Hundreds Of Millions Of Billions Of Billions Of Billions Of Billions Of Billions Of Billions Of Billions Of Billions Of Billions Of Billions Of Dollars In Debt Are Needed.

Yuan Bairen, chairman and general manager of Zhejiang longitudinal and horizontal group, is now under surveillance because of the financial crisis. In October 8th, he was the only local entrepreneur in Shaoxing. He was the first local entrepreneur in the world. He won the first prize in the list for 7 billion yuan.

10 days ago, the reporter was confirmed by the Shaoxing municipal government and the Management Committee of the new area of Zhejiang, who was once a major textile giant in China.

Until yesterday, the working group had initially checked the deficit of 1 billion yuan, and the inspectors said that if there was 2 billion or 3 billion of the deficit, it would be clear soon.

On the spot, dealers will seize the Shaoxing port of warehouse Hangzhou Hangzhou Expressway every day, that is, the broad asphalt road leading to the urban area of Shaoxing.

Driving two or three minutes, you can see the "vertical and horizontal Holdings" along the line.

In fact, the newspaper reporter has been paying close attention to the rumors of financial crisis since September.

During the 3 months' interview, reporters found that "vertical and horizontal" is constantly being heard out of various capital chain breakages, and the company is always forced to continue to rumor.

The vertical and horizontal holding group was founded in 1995 to start production of polyester chemical fiber, and the main business income of the industry was 8 billion 705 million yuan in 2007.

It has a wide range of operations, integrating chemical industry, differential fiber, finance, energy, real estate and other diversified businesses. The scope of development is in Sichuan, Chongqing, Tianjin, Hubei, Anhui, Hebei and so on. There are 1 Group Holding Companies, 6 industrial enterprises, 1 real estate enterprises, 3 investment companies and other enterprises, with a total registered capital of 2 billion 154 million yuan, 14 overseas investment and a total investment of 1 billion 875 million yuan.

Now, the company is accepting the investigation and verification of the working group of "reorganization and recovery" jointly organized by local governments at all levels.

The members told our reporter that it is a fact that the "vertical and horizontal" insolvency right now.

Yesterday, when reporters once again made a special trip to the "vertical and horizontal" field, it was found that there was no difference from the previous visits. The production of the enterprises was running normally, and the workers in the workshop were busy and busy.

On the face of it, we did not find the company's precarious business situation and the crisis mentality of staff panic.

However, when the reporter walked away from the gate for more than half an hour, he looked around and found his warehouse location when he came to a small side door.

Here, it is said that dealers are coming to "grab goods" every day.

Generally, "grab goods" are dealers from Jiangsu, Shanghai and other places, and a large number of pport vehicles come in at the same time.

Before the robbing of the warehouse, the crossroads group was in trouble in October 23rd.

A subsequent investigation revealed that the company was insolvent.

A bank personage said, in fact, once the production equipment is auctioned, it can't be worth anything at all. How much is the actual deficit?

When the price of chemical fiber fell sharply, and the blind investment was carried out, the relevant personnel of the New District Management Committee of the new area, who was located at the crossroads group, disclosed to reporters last night that the "capital and chain" had broken the capital chain at 7.

The person in charge said that since October this year, there has been a shortage of cash flow in the vertical and horizontal holding group, which is the main reason for the difficulty of capital turnover. On the one hand, because of the sharp collapse of international oil prices, the price of domestic chemical fiber raw materials and products has fallen sharply, resulting in a loss of PTA.

On the other hand, the vertical and horizontal holding group itself is not well managed, blindly investing in the outside world, the front line is too long, and some long-term investments take up a lot of money.

In the earlier stage, when the price of chemical fiber raw materials decreased, a large amount of capital turnover was required in a short time, and some long-term investments of the company, such as real estate projects, molybdenum mining investment projects and hydropower projects, were difficult to cash in.

Those who are familiar with the situation say that the Zhejiang longitudinal group has come to this day and has nothing to do with Yuan Bairen's means of operation.

Yuan Bairen, chairman of the age of 43, was awarded various honorary titles. In 2000, he was awarded the honorary title of famous entrepreneur of Zhejiang Province, outstanding entrepreneur of the whole country, Shaoxing model worker, Zhejiang Youth Federation member, Zhejiang youth 54 medal and so on. In 2004, he was named the new fortune Rolls-Royce 164th rich list 164th.

Yuan Bairen has always been delighted to hear that: in 1992, the government of Doumen town of Shaoxing county made the five Shaoxing dyed weaving factory with a loss of nearly 2 million yuan, and gave it to Yuan Bairen, who sold it for 13 years in China Textile City.

By using the method of issuing long-term letters of credit, the five weaving mills introduced international advanced equipment, and the company went out of continuous losses.

The advantage of a long-term letter of credit is that you can get goods only by paying about 10% of the deposit.

After the contract expires, the balance will be paid again.

In this way, funds can be alleviated temporarily.

The relationship between "vertical and horizontal" and the banking sector is also very close.

After borrowing money, Yuan Bairen invested a lot of money in capital intensive industries: steel and iron.

In early 2003, the vertical and horizontal group built 2 million 500 thousand tons of medium and wide steel rolling projects in Handan, Hebei; two, electricity.

In August 2003, Zhejiang longitudinal and horizontal group invested 65% and Badong electric power company of Hubei province to build a cascade hydropower station along the river crossing. The total investment of the power station is 1 billion 100 million yuan, the total installed capacity is 170 thousand kilowatts, and three, real estate.

In 2003, the Real Estate Company set up a "wealth center" project.

Four, finance.

The company owns shares of several city commercial banks such as Three Gorges bank and Shaoxing commercial bank.

After verification, 5 special working groups are stationed in enterprises. After the difficulties in working capital in the vertical and horizontal groups, the Shaoxing municipal government and the new management committee of the new area pay great attention to taking solid and effective measures to help enterprises overcome difficulties.

First of all, the Ministry of vertical and horizontal holding group "retreat two into three", implement demolition and pformation, temporarily solve the problem of shortage of liquidity, and set up a government funded emergency guarantee agency, actively carry out enterprise guarantee chain disposal, capital verification, debt and debt registration and so on.

In view of the fact that enterprises are facing difficulties in production and operation, a reputable and strong chemical fiber enterprise has been put into practice to ensure that the enterprise has not ceased production and the stability of its workforce.

At present, there are 3800 employees in the enterprise, and the wages of enterprises are distributed on a monthly basis, and the workforce is stable.

It is learnt that, in order to further intensify the efforts to solve difficulties and reorganization, the Shaoxing municipal government recently set up a "leading group for solving difficulties and restructuring work of the vertical and horizontal groups", with 5 special working groups, namely the production protection group, the debt and debt verification team, the petition and maintenance group, the debt and debt disposal group and the reorganization negotiations.

On the basis of asset liquidation and debt and debt checking, we will promptly study and confirm the relevant plans and strive to make enterprises get out of difficulties as soon as possible.

Compared with some time ago, the rescue of the giant tycoons such as "Jiang long holding" and "Hualian three Xin" has been more unprecedented in Shaoxing. The list of the 5 working groups has 26 leaders in the front line, which is the biggest action of Shaoxing governments at all levels to rescue the crisis enterprises.

(1120901) link textile fabric company is worried. Zhejiang longitudinal group is a case in which Shaoxing textile industry is in trouble.

Since the beginning of this year, Shaoxing has a large influence on the production and production enterprises. The main enterprises in Shaoxing are Hualian three Xin, Jiang long holding, Wuhuan spandex, Jin Xiong, Shaoxing Yao long, Shengzhou Best, and so on. The 6 major enterprises in Hong Kong are

The occurrence of this series of events is due to the fact that entrepreneurs are blindly seeking big debts and excessive liabilities, but there is a commonality behind them: textile enterprises are in a very difficult position.

Shaoxing textile and chemical fiber industry encountered difficulties, the other textile and chemical fiber enterprises across the country also encountered - S Yi Hua, the main business is polyester chemical fiber, and production of polyester raw material PTA.

In the three quarter, S reported that most polyester products suffered losses due to the high price of polyester raw materials and fuel and the decline in downstream demand.

Huaxi Village, the main polyester staple.

The company's net profit in the first quarter was 15 million 150 thousand yuan.

The net profit in the two quarter was 27 million 910 thousand yuan.

The net profit in the three quarter was 18 million 130 thousand yuan.

Net profit in the three quarter decreased by 35% compared with the previous quarter.

Jiangnan high fiber, business similar to Huaxi Village, the main product polyester top, composite staple, exports accounted for only 1.1%.

In the first quarter, the net profit of the company was 17 million 930 thousand yuan.

The two quarter was 20 million 130 thousand yuan.

Net profit of 17 million 760 thousand yuan in the three quarter.

By contrast, net profit fell by 11% in the three quarter.

Shandong Hailong, the main viscose (fabric made of cotton or other natural fibers as raw material).

The company said that the viscose fiber market was weak, prices fell, raw material and energy prices rose sharply, and the company's profit level dropped sharply due to the appreciation of the renminbi and the reduction of export tax rebates.

Net profit is expected to drop by 50% to 100% over the same period of last year in 2008.

Nanjing chemical fiber business is similar to Shandong Hailong. In the semi annual report, the company reported that the average selling price of viscose filament decreased by 3.28% over the same period last year. The unit production cost increased by 26.23% over the same period last year, and the operating profit rate decreased by 25.64% compared with the same period last year. The average selling price of viscose staple decreased by 24.45% compared with the same period last year. The unit production cost increased by 45.81% compared with the same period last year, and the operating profit rate decreased by 12.34% compared with the same period last year.

Yang Jing: editor in charge