Qingdao Jiaozhou Textile Industrial Park Forms A New Pattern Of Win Win.

The whole factory building, clean environment, and roaring machines are busy production. Qingdao, Shandong city Jiaozhou Textile Industrial Park The first impression of a person. At present, more and more textile enterprises in the old town of Qingdao have entered this new industrial base.

But in the past few years, dozens of Qingdao textile enterprises here are in production pause or half stop due to various reasons such as technology, system, management and so on. Nearly 30 thousand workers are unable to resettlement, and are generally faced with serious insolvency problems. Thus, several banks jointly sold the 2 billion 34 million yuan bad assets package owed by 35 textile enterprises in the textile industrial park to the the Great Wall Asset Management Co. After 3 years of asset reorganization, they revitalize their creditor's rights and business operations. Now, enterprises have been reborn, workers have been rehoused, the urban environment has been optimized, and the claims of the Great Wall management companies have been realized. Win-win situation 。

　　 Fine operation, "bad" to "high quality"

　　 Teng cage replacement Spin off Enterprises

In the past, dozens of textile enterprises failed in technological transformation due to insufficient investment, and the production equipment was outdated and the business efficiency was poor. Not only did they lose the ability to rely on operating income to repay foreign debts, but they also failed to pay wages and social security funds. Against this background, the textile industry in Qingdao once wanted to start the whole bankruptcy plan, so the Great Wall Co's purchase of the Qingdao textile package claims would be a loss, and may even be faced with a situation of no harvest.

In order to avoid the result of bankruptcy as a whole and reduce the loss of creditor's rights, the Great Wall Co, after detailed investigation and demonstration of Qingdao textile enterprises, summed up its advantages and disadvantages, and decided to unite with all parties to make full use of its superior resources, and use debt restructuring and asset management to raise the value of the project.

In 2007, Great Wall Co and Qingdao Textile General Corporation reached a consensus and signed an agreement: on the one hand, the Qingdao Textile General Corporation, with the allocated land of its enterprises, incorporated the land into the land reserve according to the government's plan, and implemented the recruitment, auction and suspension of cash in the open market, and fully used the local government's policy of returning 80% of the proceeds from the disposition of the land to the enterprises in the open market, and 50% of them used for the relocation of the textile enterprises and the relocation of the enterprises and equipment, and 50% for the repayment of the Great Wall Co 450 million yuan loan by the end of 2008, so as to realize the asset recovery. On the other hand, we should build a business platform to reorganize Qingdao textile real estate development company, and develop some land for textile enterprises to realize asset appreciation.

During the implementation of the agreement, creditors Great Wall Co faced many practical difficulties. If the land enters the government's stock market and circulation, it needs to be lifted and sequestrated. Moreover, how can we make profits through the operation of land auctions without full compensation and loss?

In addition, at the beginning of the project, the key point is the gradual resettlement of employees and the gradual relocation of enterprises, which requires a large amount of start-up capital. At that time, the Great Wall Co entered the field in a timely manner, and obtained two pieces of land through the participation in sorting and bidding. It took the initiative to postpone the repayment time of loans, and used hundreds of millions of yuan compensation to complete the resettlement plan smoothly. To compete for land, Great Wall Co will give full play to the resource advantages of all the parties and actively introduce strategic investors. First, the construction of the limited price housing of nearly 300 thousand square meters will be started first. It will be used for the resettlement of the residents in the textile enterprises, and the commercial housing will be developed synchronously, and the profits will be realized through market operation, and the value of assets disposal will be repaid and improved. {page_break}

　　 Innovative ideas, win win Quartet

Scientific planning, transformation and development

"This series of measures has promoted the transformation of the textile industrial park, and revitalize the assets and maximize the value of state-owned assets." Hu Jianzhong, general manager of the Ji'nan Office of Great Wall Co, told reporters that the process of revitalization of creditor's rights is to transform the "bad assets" into "high-quality products" through the comprehensive use of debt restructuring, value-added investment and business integration, reflecting the transformation of Great Wall Co's ideas from disposing assets to managing assets.

The most fundamental reason behind these changes lies in the fact that the Great Wall Co has proposed a package reorganization plan for the rational operation of land originally located in the urban area, and has started the development of real estate through investment. Thus, the funds needed to relocate and re start the business have been solved, and the plan has become a reality.

"Teng cage replacement" is a win win situation, but this road is not smooth sailing. Because these textile enterprises had many debts and complicated interests, the land could not be liquidate according to the original plan. At the end of 2008, the Great Wall Co only recovered about 30000000 yuan. Based on the scientific judgment of the basic situation and prospects of the project, Great Wall Co agreed to postpone and strengthen the follow-up management of project implementation, and constantly seek breakthroughs. Finally, by introducing new strategic investors, at the end of August this year, a one-time cash recovery of 243 million yuan was achieved. At this point, Qingdao's textile enterprises' claims accumulated 465 million yuan in cash, and 10 million yuan in Real Estate Company after the reorganization and reorganization.

From three to 465 million years ago, we can recover 465 million yuan, realize interest income of about 70000000 yuan, and increase the value of equity by nearly 100 million yuan. Great Wall Co has raised the value of assets through meticulous protection, detailed investigation, full marketing, effective reorganization or open disposal of assets, and created a win-win situation for all local governments, enterprises, employees and asset companies.

This is the innovative practice of Great Wall Co in refining assets, and it is also a microcosm of Asset Management Co's efforts to transform and develop. In the past three years, Great Wall Co has bid for the acquisition of 16 commercialized assets packages including Huaxia, Guangda and so on by means of meticulous disposal, involving 13 billion 800 million yuan in the principal amount of debt, and the assets that have been disposed of have been fully realized. In addition, the business platform of Changsheng life insurance, Shanghai investment and Shenzhen Guosheng guarantee has a good momentum of development. Innovative financial services products are continuously launched. A comprehensive Asset Management Co, which takes the management and disposal of non-performing assets as its main business, has investment banking and financial services functions, has a mature profit model and sustainable development capability.