Cosun Group was incorporated in April 1992 as a traditional fixed-line telephone maker in China.
At the time, Cosun Group had been one of the top-500 Chinese companies for several years, with around 20 independent corporate entity subsidiaries.
[3] In January 2017, the phone maker Cosun Group defaulted on $166 million in bonds, "hitting investors who hadn’t even bought the securities" in the investment marketplace.
The Wall Street Journal described it as "one of the most high-profile failures to hit China’s sprawling network of Internet-based financial firms.
"[4] Qiao Xing Mobile Communication was put into liquidation in the British Virgin Islands in 2015 by The Seiden Group, with local counsel at Applebys.