Why did those companies die absurdly

Cao Aiwu said, “Some companies have made very confused decisions.
Not to mention scientific and advanced decision-making mechanisms.
Basic things are completely absent.
What we are puzzled is that many companies have debts of several billions.
In fact, you see Looking at his governance structure, the board of directors, the board of supervisors, and the general meeting of shareholders have a pile of documents.
From our point of view, its decision-making is a person.
"

"Eat Enterprise" Private Lending

"Nowadays, many companies come to consult.
Basically, you don’t need to talk about it in 5 minutes.
The problem is basically that bunch.
Even I describe it more abundantly than they do.
I said I’ll remind you.
Do you think that’s the answer? He said that you know our company very well, and that's basically it.
" Cao Aiwu said.

Most of the situation is like this: A few years ago, with the rapid economic growth and loose bank credit, some companies invested in profiteering industries abroad.
However, under the condition of tightening credit, the economic situation declined again, and corporate profits were meager or even losses.
There was a problem with the chain immediately, and the company had no choice but to turn to private financial lending, thus heading for no return.

Cao Aiwu said that the cost of private financing is very high.
The monthly interest rate is 3, 4, and 5, which has completely violated the basic law of short-term loan.
It is a glass of poisoned wine.
There may be no industry other than drug trafficking that can make up, not to mention the market itself.
Not prosperous, which leads to these problems.
Among Huatong Lemon's billions of billions of debts, a considerable part of it is interest, which is very profitable.

Of course, not all private lending is based on investment in profiteering industries.
A financial director of a small and medium-sized enterprise expressed his helplessness to this reporter.
“You need collateral to get bank financing.
Without collateral, you can’t get financing.
I had to find a private loan for the order.
I couldn’t borrow any of the three points, so I had to borrow.
5 points, there is no way when you need it in an emergency, it eats corporate profits very much.
"

A well-known shoe company in Chengdu has been at the forefront of the industry after two generations of efforts.
However, the international trade environment has deteriorated and the domestic material and labor costs are high.
The company cannot absorb the price increase.
In addition, he has built a new factory.
They can only borrow from the private sector and eventually get into trouble.

"Under the Tenglong policy of changing birds, their factory was moved to another area, and they spent a lot of money to buy land to build a new factory.
However, the land certificate was not issued for a long time, and the real estate certificate for the factory was not issued.
More than 100 million yuan of assets could have directly financed 50 to 60 million yuan in banks, but they had to use guarantee companies to provide pure credit financing.
" A person familiar with the matter introduced.

"In the past few years, firstly, private loans were used to invest in profitable industries such as real estate and mining.
Later, non-real estate companies also borrowed from the private sector in order to save their lives.
The profits of the enterprises were only a few points, but 30-40% of the financing cost had to be borrowed.
Because other places can't borrow money, the bank draws its funds again.
" The president of a guarantee company in Chengdu told this reporter.

"This logical relationship is like this, because the overall economic situation is not good and the survival of the enterprise is difficult, which is reflected in the financial default rate and the increase in the bad debt rate.
The first gear is the guarantee company.
If the guarantee company can't handle it, the bank's risk It is directly obvious, then the bank will simply draw funds and draw loans, and do a one-size-fits-all approach, making it more difficult for companies, and then panic draws and draws, because whoever runs fast is the beneficiary.
" This person introduced.

"Finally, the guarantee company collapsed and extended to financing guarantees, small loan companies and investment and wealth management companies.
" In 2014, the Huitong guarantee case detonated the entire private financial industry in Sichuan.
The former intensive private financial companies on Chengdu East Street closed down in batches.
This street, which was positioned as a private financial street, has basically disappeared from investment and financial management companies.

The person in charge of the aforementioned guarantee company said that small loan companies should have been small-amount diversified and short-term emergency purposes, but could not help the temptation of high yields and did not realize the hidden risks.
They all do high-yield projects with 3 points and 5 points.
Then you can't control the risk.
"Once the problem breaks out, it shows that the credit chain is broken, and vicious incidents such as fund-raising fraud have erupted in batches.
"

This also made Cao Aiwu's personal feelings, "There is a creditor, I have a meeting here and he will participate, and he also participated in the meeting there, and they have become acquaintances.
There is a case in Wenjiang, he has tens of millions, and Huatong also has tens of millions.
, I also asked me if I am familiar with the company in Leshan.
I said that I had come to consult.
He said that I still have tens of millions.
This is his personal name, but in fact many people behind it raised funds.
"

Cao Aiwu also handled an extreme case.
"This company died on the way to go public.
The person who did the listing counseling in this office has not left yet.
Now my team has entered.
I said if there is any information that can be provided to me.
They said yes, they are all ready-made.
, Just give me the original IPO information, their team is still there.
"

For these cases, Cao Aiwu has a profound summary, "This shows that the company's operation is completely in a very extreme state, that is, it is excessively dependent on the outside.
To put it bluntly, whether the company can go out depends on whether it can find money from the bank.
Can you drop the pie? I'm just betting!"

He said, “It turned out that the downward pressure on the economy was not that great, the financial policy was relatively loose or the management was not very standardized.
Give everyone some opportunities.
Now that the tide has receded, I found myself swimming naked.
It turned out to be covered up.
Now, once the bank’s Whether it is due to funds or the market, or the butterfly effect, the assumptions it relies on no longer exist.
"

How to break the corporate crisis?

The business of Haocheng liquidation mainly includes accepting the appointment of the court to serve as the bankruptcy administrator of the enterprise, accepting the enterprise's entrustment to provide consulting services for enterprise bankruptcy liquidation, dissolution and liquidation, etc.
, and also accepting the entrustment of creditors to declare claims and participate in bankruptcy procedures.
However, the most common business is bankruptcy and liquidation, but companies, governments, and courts have insufficient understanding of bankruptcy and reorganization.

According to Cao Aiwu, according to the Bankruptcy Law, there are three ways to go bankrupt: bankruptcy liquidation, bankruptcy reorganization, and bankruptcy settlement.
Now most bankruptcy cases adopt bankruptcy liquidation and dispose of assets to pay off debts.
The bankruptcy reorganization embodies the essence of the bankruptcy law as a "rescue law", which regenerates the enterprise by preserving corporate assets, recruiting investors, and revitalizing existing assets.

Now companies lack the thinking and methods to deal with debt crises.
Once the creditors encounter the difficulties of the company, they will go to the government to make trouble and interfere with the production and operation of the company.
The result is that no one can find a proper way to solve the debt crisis.
This is a relatively troublesome problem at present.
On the one hand, it has evolved into a social contradiction.
On the other hand, it does not solve the fundamental problem of the enterprise.

Cao Aiwu said that whether the reorganization system is a better system for creditors or debtors, the government is also very relaxed.
The reorganization system is to give the debtor a chance to survive.
The creditor and the debtor reach a certain compromise and understanding, and the investors dare to take the money in.

He introduced that once the creditors and debtors agree to enter the reorganization process, there are several great benefits.
The first creditor’s rights will cease to accrue interest, and the second lawsuit will be terminated.
It is relatively light, and there is a lot of room for the enterprise to revitalize its assets.

However, "Nowadays, many companies find investors themselves after encountering this kind of more acute problem.
However, their debts are not effectively isolated, they cannot be stripped, and they lack a negotiation mechanism, so they have not been able to find them.
In the process of not being able to find it, he has to maintain his bank credit, so the cost is very high.
" Cao Aiwu said.

“There are tens of thousands of bankruptcy cases in the country each year, but only more than 120 of them are bankruptcy reorganizations.
" Cao Aiwu said that in 2013, the first company reorganization case accepted by the Chengdu Intermediate People's Court was Sichuan Haocheng Liquidation as the administrator.
Jinfeng Paper's bankruptcy and reorganization case.
The company had a debt of more than 1 billion yuan at the time, and eventually the company was reborn and reborn.

"Jinfeng Paper has used 265 million yuan to pay off the external debt of 1.
25 billion yuan.
Now everyone is happy.
In addition to the consideration of the acquisition of the company, the investor has invested another 200 million yuan to carry out technological transformation, and now it has become the southwestern region.
The only company with a license to produce cigarette paper, if it was handled in the bankruptcy liquidation method at that time, then the machinery and equipment would be sold, and it would become a very high-quality company after transformation.
It will not be ruled out to go public in the future.
” Cao Aiwu Introduction.

He believes that although Huatong lemons are indeed very high in debt, its brand still has a value.
Moreover, as a healthy fruit, Anyue has unique planting conditions.
If there is a suitable investor, it can introduce professional The team, combined with the current location advantages of Anyue, coupled with government support, will make this industry bigger and stronger.

Cao Aiwu said, "The government's concept must also be changed.
Some companies withdraw from the market, as long as they withdraw according to law, and are eliminated according to law, it is normal for them to be eliminated if they are uncompetitive.
The debt crisis has to give the society an explanation.
It is better than running away.
To run away means that there is neither social responsibility nor legal responsibility, so that the security of social transactions is the biggest threat.
The reorganization is to solve the problem with a developmental perspective.
In the face of the current situation, Cao Aiwu is also in the flower industry.
Time to reflect this problem with entrepreneurs and relevant government departments, “Now the government is gradually realizing this problem, and some experts have also followed up with relevant provincial leaders’ reports on special topics.
During the current economic downturn, companies are facing difficulties.
At that time, the use of the reorganization system can not only resolve social conflicts in a timely manner, but also enable some companies with hope of regeneration to get rid of the predicament.
"(Source: Global Coatings Network ) (For more information, please log in: Global Coatings Network http:// )