Zhejiang Tanneries Are Investing In Blind Investment, Resulting In Financial Breakage.

In March 1st, Hong Hanmin, chairman of Zhejiang Goldman Sachs Technology Co. Ltd. (hereinafter referred to as Goldman Sachs Technology), "run away"; in May 2nd, Huang Jianfu, chairman of the Zhejiang Hongchang tanning Co., Ltd. (hereinafter referred to as Hongchang tanning), lost contact with Haining; in May 4th, Pinghu enterprise Zhejiang Yida Biotechnology Co., Ltd. (hereinafter referred to as "Yida bio") closed down.

Several enterprises are star enterprises in the locality.

Hongchang leather making is one of the four largest leather making enterprises in Haining. Its output value reached 260 million in 2011. Goldman Sachs technology has more than 10 companies in Huzhou area, and its industries are all over Deqing, Nanxun and Anji. Yida is the only national leading agricultural enterprise in Pinghu.

It is quite surprising that these companies "

"It is not because of the difficulty of financing, but on the contrary, as a local star enterprise, they have received considerable financing support from local governments and banks.

According to a high-level personage of Hongchang tanning, the bank loan of Hongchang leather is about 800 million.

According to media reports, Goldman Sachs technology 1 billion 800 million debt involves bank loans of 1 billion yuan.

Then, with so much financing support, why will there be a break in the capital chain? It is whether the business owners themselves are operating poorly or the industry downturn is causing the survival dilemma, or the tight monetary policy has made it difficult to renew.

The truth is urgent to investigate.

Bank loans exceed 800 million

In May 2nd, when Huang Jian flew from Shanghai to Pudong to Canada, the employees of Hongchang tanning seemed unaware.

"From No. 2 board runner to No. 6 factory was sealed up by the court. We have been doing normal production these days. In May 1st, the chairman still told the financial man that there would be capital injection and nothing to worry about."

Ye Huiqun, a purchasing manager of Hongchang Leather Manufacturing Co., Ltd. (a pseudonym), told the network in twenty-first Century.

However, Huang Jian promised that the funds did not arrive. Only 1 days later, he went to Canada and lost contact with the country.

"Now, Huang's commitment was more like a cover for his" run. "

Ye Huiqun said.

In May 5th, due to the failure to repay the bank loans due, the Haining branch of Bank of China put forward 3 applications for property preservation to the Haining court for a total of 75 million yuan.

In May 6th, Haining court staff entered Hongchang tannery and sealed up their factories, equipment, finished products, semi-finished products and raw materials.

"According to the court, we owe 8 billion."

But for this figure, Ye Hui group is obviously unbelievable.

"The business has been pretty good in the past two years. According to the sales revenue of 260 million last year, the profit should be about 20 million, and there will be no deficit."

However, according to Cheng Jianguo, director of the Executive Office of the Haining court, the amount of debt is far more than the real assets of the enterprise. "The number of Bank of China's own reports is 2.3 billion, and there are more than one bank and many banks.

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According to a court middle-level person, Haining's local construction bank, ICBC, ABC, Jiaxing bank and even some banks in Hangzhou have made loans to Hongchang tannery, with 20 million less and more than 200 million more. The total amount is 8~9 billion, and the specific amount is still under investigation.

Because of the loan provided for Hongchang leather making, many enterprises in Haining are also involved, among which there are many large enterprises.

A person familiar with the matter provided a list of enterprises guaranteeing Hongchang tanning, including 85 million, 40 million, 50 million, 20 million to 30 million, and 40 million.

According to Ji's official website, in 2011, Ji realized sales revenue of RMB 7 billion 68 million 510 thousand yuan, an increase of 119% over 2010, and realized a profit of 118 million yuan, an increase of 211% over 2010 and a 188 million 530 thousand increase in profits and taxes, an increase of 528%.

Others such as Nile socks, Wanfang warp knitting, and Australia are also well-known enterprises in their respective industries in Haining.

For the authenticity of this list, the reporter sought evidence from the Haining court, but by the end of the press release, the office of the Haining court office was always in a state of no connection.

However, through consulting relevant information, the reporter found that in a "prospectus for collection of small and medium enterprises in Haining 2012, Zhejiang", there was a clear record: at the end of 6 2011, Ji's accumulated external guarantee amounted to 163 million yuan, accounting for 37.08% of the net assets at the end of the current period.

The guarantor is Haining Guangyuan Chemical Fiber Co., Ltd. (guarantee amount is 78 million yuan), and Zhejiang Hongchang tanning Co., Ltd. (guarantee amount is 85 million yuan).

In addition, the statement also mentioned that "if Guarantee Corporation is in the future to pay difficulties, he will perform corresponding security responsibilities."

The top executives of the Hongchang tanning industry, who mentioned earlier, told the network in twenty-first Century that Mr. Ji and his former boss Liang Wensheng were classmates, and he had secured more than 200 million of the largest guarantee for tanning leather, and now about 80 million.

It is conceivable that if the corresponding guarantee responsibility is fulfilled, what kind of fate will these enterprises face?

This is also a problem before the government of Haining.

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Multielement investment

For the Hongchang tanning boss "run away" incident, the Haining Leather Industry Association official said that the company had been producing and selling all the time, and environmental protection verification has also been passed.

According to Ye Youqun's statement, the operation of Hongchang leather industry is feasible in the past two years. In order to expand the scale of enterprises, the company invested 20 million yuan in 2010 to build a new Haining Ya fan sofa industrial company which produces sofa products, extending to the downstream of the leather industry.

Although this year's situation is not as good as last year, it will not cause much losses.

And just a few months ago, Huang Jian also visited Yingtan, Hunan, and wanted to invest in a sofa product project.

"Huang has gone back and forth about 10 times, and the leaders of the local government have a good relationship with each other. The projects are almost the same, and there are about 400 or 500 acres of land invested."

According to this statement, the reporter contacted the director of the Yingtan Development Zone, director Huang Jian, who said that he had been to Yingtan once. For that project, it was only a preliminary intention. It did not reach the actual stage. Even if it was negotiated, the land index would have 100 mu at most, and there would not be 4 or 5 acres.

For Huang Jian himself, ye director said he was not familiar with it, but heard that the capital chain failed because of the failure of capital operation.

This argument has also been recognized by a local government worker. It is obvious that only normal operating companies do not need such a large bank loan.

The top executives said that the boss's mind was no longer on the corporate side. He had real estate projects in Shanghai, and he also invested in futures and speculation.

The enterprise may be just a collateral that he borrows from the bank. Before 2011, Huang Jian was not the largest shareholder of Hongchang tanning until January 2011, and Huang Jiancai became a major shareholder.

The 4 and 5 acres of land invested abroad may only be a cover for larger scale financing.

Reporters in the Hongchang leather tanning investigation, in the company to convey the indoor address book, did not find Huang Jian's name and contact way, instead is the former major shareholder Liang Wensheng's name.

"Although the boss often comes to the factory, he never asks about the production, and the speech is also the general manager."

Ye Huiqun said so.

According to senior executives, the huge debt may be due to multiple investment failures in real estate, futures and exchange rates.

"No one knows about the specific losses. It was said that Huang had asked the government for bankruptcy before running away, but was refused."

But this argument has not been confirmed by the relevant people of the Haining municipal government.

The senior person told reporters at the same time that

In the huge debt, the proportion of private lending is not large, most of which are still bank loans. The 75 million yuan loan that the Bank of China failed to repay this time is the direct inducement of Huang Jian's "run away".

Enterprises have changed hands many times

According to investigation, from 2005, the actual controller of tanhong leather has been changed at least 3 times in 7 years.

Industrial and commercial information shows that Zhejiang Hongchang tanning Co., Ltd. was established in March 2004 by Hongkong Yi Ping International Co., Ltd., with a registered capital of 30 million 500 thousand US dollars and a total foreign capital of US $25 million.

In January 2011, the corporate juridical person was changed from Liang Wensheng to Huang Jian.

"Hongchang leather was first invested by a South Korean boss, and then sold to Liang Wensheng, Dalian. In 2011, Liang Wensheng quit to set up an environmental protection company, and Huang Jian accepted his shareholding as a major shareholder."

A person in charge of investment promotion in Haining foreign trade and Economic Cooperation Bureau told the twenty-first Century net.

It is understood that in the early days of the founding, Hongchang tanning had also encountered.

Difficult problem.

"At the beginning of its establishment, the capital strength of the enterprises was not strong enough, and there was not so much financing support, so some of the land was leased to several Wenzhou bosses, which were developed in the form of leasing.

In the first few years, the efficiency of the enterprise was good and bad, but it didn't get better until two years ago. "

Ye Huiqun came to Hongchang tannery in 2005 and understood the history of the development of this enterprise.

In his impression, the great development of Hongchang leather making should be calculated from 2009.

"The leather industry is criticized most by the outside world is the pollution problem.

That year, the state began a very strict environmental inspection, and eliminated many small scale tanning enterprises.

In September 2009, the environmental protection department of the Ministry of environmental protection, a "environmental protection storm" named "bright sword", clearly pointed out that we should eliminate and resolutely ban illegal tanneries and eliminate the tannery production line under the annual processing capacity of less than 30 thousand sheets.

After this rectification, the whole country

There are only 100 out of more than 1000 out of the peak.

Tanning enterprises in Haining were reduced from 13 to 9.

According to a Haining Leather Industry Association's "Haining leather tiger list", in 2008, Hongchang leather has not yet entered the top ten in leather enterprises, but in 2009 and 2010 after the environmental protection rectification, Hongchang tanning ranks among the top ten, ranking sixth.

In leather making enterprises, it ranks third.

Or facing bankruptcy

"If we want to meet the national environmental standards, we need strong financial strength, and waste water, waste gas and waste residue need to be processed. In order to meet the requirements of environmental protection, our company has invested about 30000000 in the purchase of equipment.

The annual depreciation and processing cost of equipment is about 10 million. "

Ye Huiqun said.

In 2010, the state further improved the entry threshold and environmental protection standards.

The Ministry of environmental protection began to carry out environmental protection checks on leather making enterprises throughout the country every year.

And issued a list of tanneries that are suitable for environmental protection.

Since 2010, a total of 3 batches of 49 enterprises have been released.

There is a huge difference in whether enterprises enter the list.

The Ministry of environmental protection stipulates: for tannery enterprises not included in the announcement, the environmental protection departments at all levels shall suspend the examination and approval of their environmental impact assessment documents of new (alteration or expansion) projects, and shall not provide all kinds of special funds for environmental protection, and shall not accept their applications for Environmental Protection Verification on the listing, and shall not produce environmental compliance, compliance or compliance documents for any area, including processing trade of raw skins.

Hongchang tannery entered this list in 2011, and passed the environmental protection inspection this year in April.

If the boss works well, the business prospects are good.

When he said this, Ye Hui group felt sorry.

Ye Huiqun's regret is not unreasonable. In May 7th, Xingye technology landed in the capital market and became the first domestic leather industry.

The industry said that because the leather industry listing needs to go through many strict EIA marks, the Societe Generale technology has successfully entered the capital market, which has symbolic significance, which means that leather industry represented by Xingye leather has cracked the bottleneck of pollution control.

"This list is still very valuable. Therefore, after the tanhong incident, the first idea of the government is to keep the enterprise and consider the other local enterprises to take over."

But with the gradual and clear debt of Hongchang tannery, the enterprise has already been seriously insolvent, and the possibility of being rescued and reorganized is getting smaller and smaller.

"The Haining municipal government has abandoned this idea. Through the verification of assets, the net assets of Hongchang leather industry are less than 200 million, but the liabilities have reached more than 800 million, the gap is too large, no enterprise is willing to take over, and the government has financial difficulties," the insider said.

It is estimated that we should go bankrupt.

From the development of a small and medium-sized enterprise to a star enterprise to a bankrupt enterprise, from the original "end of the road" to the "big guests" of the major banks, 7 years of Hongchang tannery changed 3 times and liabilities 800 million, which included both the blind investment of entrepreneurs and the oversight of the banking system.