Oct. 29 Japan of shares (600,074) Pre-losing released annual results announcement in 2007 that the scale corporate borrowers, interest rates, corporate financial burden. This shows that companies are being caught in serious financial difficulties.
Previously, the company disclosed, as of October 13, 2007, the company overdue loans total of 39 pens, a total of 1,343,982,500 yuan; overdue secured a total of 27 document, namely, 928,355,200 yuan. So, the company is so huge overdue loans and overdue How is the security of it?
the debt crisis of the shares in the application of the controlling shareholder of the Group Ltd., the actual control of natural Zhang Guoping, Shen Pacific Group owns 70% of the shares held by his brother Zhang Guoxing application of the Group of 30 % of the shares.
from the public of the situation, mainly by the company into a debt crisis have serious referrals and Jiangsu's richest Pacific Construction Group Co., Ltd. Jiangsu drag. Notice that since 2005, a major shareholder in application of the Group and the Pacific relationship between the mutual insurance group, application of group security for the Pacific Group, the amount of .2006 of 1 billion yuan in September, the Pacific Group of funds strand breaks, the relevant application of the creditor bank held responsibility for the Group's joint and several guarantees, and quickly spread to to share in up to.
Although Pacific Group is overdue guarantee funding crisis caused by application of the fuse group, but use its own funds in recent years, the various problems arising in the course, is its current difficulties encountered the root cause.
application of Group Claims Commission to relevant sources, application of the Group and its companies currently control the size of loans is about 60 million, has a large number of overdue loans.
data provided by authoritative sources, Shenda Group only loans for nearly two months due to 10 pen, worth a total of 260 million yuan; November 8 pen acceptance due, a total of 60 million yuan; currently valid external guarantees up to 74 pen, 71 of which guarantees the security contract pen, 3 pen guarantee the mortgage contract, the amount was 23.8361 million and 157 million.
the earlier report of an unaudited, as of November 30, 2006, Application of Group total assets of 5.916 billion yuan, Total liabilities 4,207,000,000 yuan, only 524 million equity, equity ratio of only 8.85% of assets, asset-liability ratio is very high.
application by the majority shareholder of the Group's influence over shares in the size of loans is also very alarming. the end of last at the end, only short-term loans reached 2.319 billion yuan, has 607 million of notes payable. To date in mid-and short-term loans continued to expand, to 2.445 billion yuan.
addition to high debt, the amount of external guarantees of shares is also extremely amazing, far more than the net assets. in the first half figures show, the company guarantees the balance of a total of 1.5031 billion yuan, accounting for the proportion of net assets up 152.18%, which directly or indirectly to the asset-liability ratio is more than 70% of the object to provide security guarantees the amount of 675 million.
company into a debt crisis.
blind expansion of the company's debt crisis is mainly derived from blind expansion. in accordance with the idea of Zhang Guoping, Group to be accumulated over more than 8 billion yuan of industrial added value, profits and taxes total more than 5.0 billion, 2.
blueprint to achieve this, application of blind expansion of the Group, the financial deficits of shares is also the case of a series of asset acquisitions .2006 far, the company has invested 180 million yuan acquisition applications Jiangyin held by the Group of Hotels, Limited application of 70% stake, a premium of 32%; spend 2 billion acquisition of application of the Group, Jiangsu Ying Huan companies were held by the Real Estate Co., Ltd. Changzhou Yuyuantang 39% and 51%, premium of 85%; the same time, application of the Group and Changzhou, Jiangsu Ying Huan Yu companies were the source and the application will reach a large hotel in the transfer of 120 million yuan in debt up to share together. In addition, the company 254 million yuan in 2006 to the transferee also Jiangsushenlong along the fixed assets investment in sub-package Development Co., Ltd. Business Building and land use rights and so on.
While the above acquisition, the shares are up on third-party claims as a means of payment, but greatly reduced in this type of acquisition of shares of asset liquidity. and a mysterious third party who in the end, the shares have not been disclosed up.
of shares in the Board of Directors also adopted the , to 5.3 billion yuan for Shannon transferee company owned by entrepreneurs of Chinese Famous Trademark , its main source of funds for the bank borrowings. As June 30, 2007, the company short-term loans amounted to 2.445 billion yuan, 209 million long-term loans. Since the debt crisis, the lending bank loan by way of not only charge compression in the company's turnover of working capital, making the company is cash-strapped state, and caused a large number of overdue loans and overdue guarantees.
as a result of restructuring the way out of debt crisis, of shares from September 11 consecutive suspension. Inc. disclosed in the Finance Office of Jiangsu Provincial Government and Jiangsu Banking Regulatory Bureau of the coordination and promotion, through consultation between the parties decided to resolve the debt restructuring, corporate debt crisis. the creditor banks of the creditor banks committee organized by the Agricultural Bank of China Jiangsu provincial branch line as a creditor banks led by the Committee. At present the Commission has reached with creditor banks debt restructuring intention syndication program, which the creditor banks are reported to their head office for approval being.
present, the company undergoing a major debt restructuring preparatory work for the rational allocation of assets, centralized management, the company intends to invest along the river last year from Shannon Development Co., Ltd. and Jiangsushenlong Venture Group Ltd. in acquiring commercial building and related sub-package of development sites by the company holding all the change Application of the real estate subsidiary of Jiangyin Co., Ltd focus on the transferee, by its centralized management, unified development, utilization. The company has access to the local government on real estate, land transfer fee concession in the instructions, and some of the land ownership transfer procedures have been completed.
10 29, company announcements, the current debt restructuring program the company is still in discussion among the uncertainty, according to the relevant provisions of the stock to continue to suspend shares, to be determined and announced after the relevant issues company's shares to resume trading.
transferred from the China Economic Times
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