The Leader Of The Chemical Fiber Group Is In The Dilemma Of Huge Debts.

< p > this year, following the continuous emergence of the capital chain crisis in Ningbo Fenghua and Hangzhou Xiaoshan areas, Shaoxing's chemical fiber leading enterprise Zhejiang Fu Fu Group has also been caught in such a dangerous situation.

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< p > the Zhejiang rich group is a famous enterprise in the raw material industry of the "a target=" _blank "href=" http://www.91se91.com/ "textile" /a ". The scale of the enterprise is more than ten billion yuan, and the profits and taxes in 2011 amounted to only 1 billion 100 million yuan.

This is a company with a glorious history. It is now in a predicament under the current situation of excess capacity and overcapacity in the chemical fiber and polyester industry.

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< p > a person who understands the current situation of enterprises tells reporters that "at present, the Zhejiang rich group is in the predicament of huge debts. The liabilities of banks exceed 5 billion yuan, of which 300 million yuan is overdue and the capital chain is on the verge of fracture.

Rongsheng group was originally seeking help from another Rongsheng Petrochemical Group, Zhejiang Rongsheng group. The Rongsheng group originally intended to acquire or become a rich investor, but because of the huge volume of its wealth and complex structure, it did not dare to directly accept the offer. Instead, it would take the form of a similar escrow operation, and it might invest capital or even buy the latter in the near future.

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< p > < strong > account liabilities 5 billion 153 million yuan < /strong > /p >

P > May 8th noon, though not in summer, but the sunshine in Shaoxing is already burning.

In the Binhai Industrial Park, which is about half an hour's drive from the Keqiao District of Shaoxing, the Zhejiang headquarters of the Fu Fu Chemical fiber group looks a little deserted. Few people walk in the huge office buildings. The Zhejiang subsidiary of the subsidiary company, which is a few hundred meters away, is also rich in Chemical Fiber Co., Ltd.

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< p > a reporter obtained a list of liabilities of the Bank of Hangzhou Fu Fu group. By the end of 2013, the Fu Fu group had involved 20 banks, and the branches of Shaoxing and Hong Kong amounted to 5 billion 350 million yuan in debt.

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< p > according to the list provided by people familiar with the situation, 4 of the loans were overdue and the total amount was 350 million yuan.

Among them, Ruifeng bank Shaoxing Binhai sub branch 180 million yuan has 40 million yuan overdue; Nanjing bank Hangzhou branch 30 million yuan all overdue; Bank of communications Shaoxing branch 261 million 300 thousand yuan has been overdue 60 million yuan, etc., a city commercial bank Shaoxing branch, overdue loan amount as high as 220 million yuan.

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< p > for the authenticity of this list, the reporter verified the bank credit officers and relevant responsible persons by SMS and telephone one by one. Some of the phones were not answered. Some of them said they had left the original bank, and the matter was not clear.

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< p > the official responsible for the office of the Hangzhou branch of the Shaoxing branch of the city commercial bank, whose loan amount is up to 220 million yuan, is not directly answered, but told reporters that "at present, it is not convenient to be interviewed on a business trip in the field."

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< p > however, for the news that the rich group's liabilities exceed 5 billion yuan and some of the loans are overdue, the relevant departments of Keqiao District of Shaoxing reply to reporters, "due to the universality of the industry, there are some difficulties in the production and operation of the rich group, but it is not insolvent.

By the end of March 2014, the total assets of the enterprises were 5 billion 592 million yuan and the total liabilities of the books were 5 billion 153 million yuan.

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< p > before that, the relevant departments of Keqiao District of Shaoxing city had said in an interview with the media, "indeed, nearly 300 million yuan of banks such as Ruifeng bank, Bank of communications and Nanjing bank appeared overdue, because the mortgage was sealed up and the bank credit was not granted temporarily."

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< p > except for bank loans, the capital chain crisis of the Fu Fu Group also involves the hidden danger of mutual insurance.

According to the reporter, the rich group involves new Zhongtian Group, Far East chemical fiber group, Hua she polyester factory and Rongsheng group in Hangzhou. Among them, Rongsheng group covers 130 million yuan guarantee, including 80 million yuan raw material and 50 million yuan cash.

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"P >," Rongsheng group told reporters in the mail, "the rich guarantee, at the same time has the corresponding assets as collateral, Rongsheng has always attached great importance to risk management and control, in the process of providing guarantees, there is a corresponding risk assessment and control mechanism, the money does not affect the Rongsheng group's normal operation and investment.

Besides, according to our understanding from the local government, the present production and operation of the rich group is basically normal, and its asset status is not as serious as the outside imagination.

Xu Maogen, chairman of the Far East chemical fiber group, once said in an interview with the media that there was a guarantee of 820 million yuan, but it was not formed by the present but left behind by history.

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< p > 2008, the leading chain enterprise of Zhejiang textile chain broke up, and many local enterprises in Shaoxing fell into mutual insurance circles.

According to media reports, in the year when the local Zhejiang longitudinal and horizontal group collapsed in Shaoxing, the Fu Fu group involved a joint guarantee of 400 million yuan, and at the same time, because of the Zhejiang longitudinal group, it lost 700 million yuan of guaranteed credit.

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< p > the local government departments concerned in an interview with our reporter said: "the difficulties of the rich group have not caused the crisis of the guarantee chain, and the guarantee business is completely normal.

In response to the difficulties faced by the rich group, the government and enterprises are working together to resolve and hope that public opinion and related banks will give understanding and support.

However, the local government departments have admitted in the media interview that if handled properly, the new Zhongtian Group, the Far East Group and Wah House polyester will indeed be a negative drag.

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< p > < strong > development failure > /strong > /p >

< p > Industrial and commercial information shows that the former group was formerly the first polyester factory of Shaoxing County, founded in 1986. Its shareholders are < a href= "http://www.91se91.com/news/index_p.asp" > Shaoxing < /a > County (now Keqiao District), Ma Ma Town collective assets management and management company, Ma Ma economic and Industrial Corporation and Shaoxing Chemical Fiber Group Co., with a registered capital of 108 million yuan.

Public information shows that the diversified business entities of the rich group include Zhejiang fufu Chemical Fiber Co., Ltd., Zhejiang fufu Pharmaceutical Co., Ltd., Zhejiang Eurasia film material Co., Ltd., Shaoxing Sinopec petrifaction station Co., Ltd. (pferred), and Shaoxing's real estate development limited company.

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< p > at the same time, in addition to its chemical fiber and polyester film in Zhejiang Province, the Fu Fu Group set up Jiangsu Eurasia Film Co., Ltd. in Shuyang, Jiangsu, and also involved in mining. The Fushun Nickel Industry Co., Ltd. was established in Xilingol, Xilingol, Inner Mongolia, and its real estate industry has also developed to Henan and Yunnan.

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< p > the company's official website shows that since 2006, the film production and sales in the country ranked first in the same industry. Chemical fiber production and sales ranked seventh in the same industry nationwide. In 2007 and 2009, the number of top 100 enterprises in Zhejiang and 39 hundred manufacturing enterprises in the industry ranked 73, and their position in the local industry was very low. Its chairman Zhao Zhangfu has also been among the various rich list.

According to media reports, as at the end of 12 in 2012, the total assets of the rich group were audited by 14 billion 438 million yuan. What are the reasons for the losses of the rich group? {page_break} < /p >

< p > those who understand the current situation of enterprises pointed out that "during the period from 2010 to 2011, the profit of the group was more than 1 billion yuan, and since 2012 it has been reduced to a deficit of over 4 billion 500 million yuan and a loss of 1 billion 300 million yuan."

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< p > in addition, in early May, it was reported that the fortune group did appear to be operating difficulties. At present, its film production line is full load production, and the chemical fiber production line has an opening rate of about 60%. The failure of the chemical fiber production line is due to the loss of chemical fiber industry and the adoption of measures to limit production.

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< p > above, the relevant departments of the above Keqiao district said, "the operation of the rich group is normal. At present, the leading industry film production line is full load production. Chemical fiber is generally restricted by production factors because of the industry factors, and the rate of start-up of the enterprise is above 60%, which is equivalent to the general level of the industry."

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< p > analysis points out that there are two main reasons for this situation, one is the industry environment, the other is the blind expansion of investment failure leading to cash flow dilemma.

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< p > there is news that since 2003, due to the blind expansion, the investment projects of the rich group in Jiangsu, Yunnan, Guangdong, Henan and other places have mostly failed. The investment in Jiangsu Asia and Europe established in 2009 was close to 1 billion 700 million yuan, but the project did not receive the expected effect.

In Henan, Yunnan and other places, real estate projects also failed.

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< p > according to media reports, the fortune group has invested 350 million yuan in real estate projects in Chenggong, Yunnan, which also has disputes, and the lawsuit has not been settled yet.

Since 2006, the owners of the original land use right, the rich group and another investor have been lawsuits.

As a defendant, the Fu Fu Group will sit in the Shaoxing intermediate people's Court on May 30th.

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< p > < strong > Rongsheng group receiving plate > /strong > /p >

< p > according to the above understanding of the current situation of enterprises, "the rich group urgently asked for Rongsheng group to ask for help. Rongsheng group originally intended to acquire or become a wealthy investor. However, because of the huge amount of money and the complex structure of the company, the company did not dare to directly accept the offer. Instead, it took the form of a similar escrow business to take the capital and even bought the latter in the near future."

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< p > Shaoxing County Keqiao district government official website 46 work Bulletin shows: in March 12, 2014, the Fu Fu group and Rongsheng Group signed a strategic management cooperation agreement. The Rongsheng group took over the Fu Fu Group in a similar escrow way. The Keqiao district committee member, the deputy district head of the industry and Jin Xiaoming and the Secretary of the Party Working Committee (Party committee) of the Binhai Industrial Area (Wen Renshui) participated in the signing ceremony of Rongsheng group and the Fu Fu group.

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< p > according to the information of the Keqiao district Party committee's work bulletin, since 2013, Jin Xiaoming, deputy director of the Keqiao District Committee and Deputy Secretary of the district Party committee, and Wen Renshui, Party Secretary of saddle Town, have gone to the research group of Fu Fu Group for several times to discuss how to help them overcome difficulties.

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< p > to this, Rongsheng Petrochemical Company (Rongsheng 002493.SZ), a listed company holding Rongsheng holdings, said in an e-mail to the reporter, "the cooperation between Rongsheng group and the Fu Fu Group is limited to the management output. The purpose is to help the rich group optimize management and enhance the level of enterprise development, and does not include capital exchanges. Both are independent market participants. The knowledge of the rich group is limited to market information, and the financial problems that are rich are not yet clear."

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< p > although Rongsheng has strongly expressed its understanding of the rich group, it is only limited to market information. However, I am afraid that is not the case.

In 2010, the two companies appeared in the prospectus of 002386.SZ.

As early as 2007, Tianyuan Group introduced Rongsheng holdings, de Mei chemical industry, and Fu Fu Chemical fiber three as strategic investors.

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< p > in addition, reporters read the 2011 Annual Report of Tianyuan Group, and learned that Zhejiang Rongsheng group and Hangzhou Chengyang Investment Co., Ltd. are second largest and fourth largest shareholders of Tianyuan Group respectively.

Hangzhou Chengyang Investment Co., Ltd. is the sole proprietorship of chemical fiber, established in May 6, 2008, the 23 floor of the green capital World Trade Square in Xiaoshan District North dry street, the legal representative Chen Linfu, the registered capital and the registered capital of 10 million yuan.

The business scope is industrial investment, enterprise management consultation and information consultation service.

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< p > Rongsheng group was established in September 13, 2006 with registered capital and paid in capital of 200 million yuan. It is registered as No. 98 Hongyang Road, Yunong Town, Xiaoshan District, Hangzhou City, Zhejiang province. The legal representative is Li Shuirong, whose business scope is industrial investment, enterprise management consulting, computer software development, indoor and outdoor architectural decoration, sales of chemical fiber products, and information consulting service.

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"P > not only that, but Li Shuirong and Chen Linfu are also vice chairmen and supervisors of Tianyuan Group. From this point of view, the relationship between the two companies is not as simple as that of Rongsheng petrochemical.

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"P >" Rongsheng group said, "Rongsheng and rich investment Tianyuan Group is a normal business behavior, the specific circumstances of the stock holdings of Tianyuan Group related announcement.

We do not comment on the fact that the executives of Tianyuan group were elected in strict accordance with the relevant procedures.

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"P" earlier, Wen Shui said in an interview with the media that the cooperation with Rongsheng group had been basically arranged, but did not disclose details of bilateral cooperation.

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< p > for this reason, the reporter called Zhao Zhangfu, the chairman of fortune group, several times, and sent text messages to verify whether all the information related to the rich group was true. He made an appointment with Zhao Zhangfu, the chairman of the Fu Fu Group, and then went to the Fu Fu Group for verification and verification, but failed to get a positive response from Zhao Zhangfu for two times.

In the office of the Fu Fu group headquarters, the reporter met Chen Linfu, deputy general manager. To this end, Chen Linfu said, "no comment, all the questions asked the government, the government understands the real situation of the enterprise."

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Chen Linfu P said that the reason why the government understood the real situation of enterprises was the enterprise nature of the rich group. According to public information, the first polyester factory of the Shaoxing county's first polyester plant was originally a collective enterprise in Ma An town. The competent authorities had already approved its restructuring, but the Fu Fu group had never done it.

Industrial and commercial information shows that Ma Ma Town collective assets management and management company and Ma On Zhen Economic and Industrial Corporation are still shareholders of the Fu Fu Group, nor have they registered for registration of industrial and commercial changes.

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< p > however, the relevant departments of Keqiao district said in an interview with the media, "the rich group is nominally collective enterprise, and the essence is private enterprise."

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< p > besides, it is reported that the finance of Ma Ma Town in Keqiao District of the Fu Fu Group has provided an emergency loan fund of 100 million yuan for the company.

However, compared with the about 5000000000 yuan debt of the rich group, it seems a drop in the bucket.

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< p > according to the press, since this year, in order to strengthen the industrial a href= "http://www.91se91.com/news/index_c.asp" > Enterprise < /a > operational risk monitoring and prevention, strengthen coordination and cooperation, and enhance the risk prevention ability of enterprises, the Keqiao District, which is located in the rich group, has issued the document on the implementation of further implementation of risk enterprise assistance (Trial Implementation) (District Office [2014] 35).

The document clearly points out that enterprises with risks have to be disposed of according to the principle of "treating differently, classifying and resolving".

For large and widely involved large enterprises and large groups, we should maintain production and operation as far as possible and safeguard regional financial security and social stability in accordance with the principle of "ensuring and ensuring".

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