Another Chemical Fiber Enterprise Clearance Sale, Once The 500 Largest Chinese Textile Enterprises Liabilities Exceeded 9 Billion Bankruptcy Reorganization!

Recently, a million million Porsche Cayenne cars were auctioned at a price of 189 thousand yuan.

This enterprise used to be Yongtai textile for a while. Its total assets are over 1 billion, and its liabilities are 1 billion. Later, because of poor management, the people's Court of Xiaoshan District of Hangzhou decided to go bankrupt and liquidated. Besides the chairman's car Cayenne, the company's equipment and shares were also sent, and the starting price of the 3000 yuan was also given by the evaluation agency.

It is reported that Yongtai textile is one of the most famous textile producers in China. Bankruptcy is caused by the investment in real estate by subsidiary companies, resulting in the fragmentation of capital chain and finally being dragged down by diversified development.

Debt exceeds 9 billion of *ST in the middle of the bankruptcy reorganization, Ningxia's pride and once the top 500 Chinese textile enterprises!

According to the latest news, China Textile Industry Association has been selected as the top 500 Chinese textile and garment enterprises in 2008~2009, and has been announced by the Ningxia textile and Light Industry Bureau as the "top ten enterprises in Ningxia textile industry" in the evening of July 10th. The company received the "civil ruling" and "decision" issued by the Yinchuan intermediate people's court in July 9th. The ruling accepted the application of the Ningxia Shanghai Yong run Cci Capital Ltd's reorganization of the company, and the decision was designated by the relevant departments and agencies recommended by the Yinchuan Municipal People's government to form a liquidation group to serve as the manager of the Ningxia silver industry. The company's decision was made in July 9th.

*ST Zhong Rong said frankly, influenced by many lawsuits, the financing environment changed, the company's funds were more intense, and the procurement of raw materials was limited, which had a huge impact on the production and operation in the later stage. Reporters also learned that, due to the further deterioration of the debt crisis of the joint-stock company in 2018, resulting in no funds to purchase raw materials, resulting in a sharp decline in their production capacity.

In view of this shortage of liquidity, in 2018, the company's production and business strategy changed from the original mode of large production and large trade to the form of production trade + entrusted processing, so as to maintain the operation of the company. Although the total output in 2017 did not reach the design capacity, it was mainly affected by the previous year's tax and lost the large customers such as UNIQLO. However, there was no large area shutdown.

In 2018, because of the shortage of funds, the company failed to receive the relevant raw materials of large quantities of raw materials purchased in advance at the end of 2017, and cancelled some orders, resulting in a decline in sales revenue in 2018 and corresponding production decline. At the same time, due to the gradual start of 2018 and major litigation, cashmere raw materials and yarns, which are used as mobile pledge, need to store two times value of goods to go out of the warehouse, which also affects the liquidity of the company, resulting in some orders not being delivered in time, affecting sales revenue, resulting in the company's workshop being discontinued at different levels. It is understood that as of March 31, 2019, the total assets of the Bank of China's gross assets were 7 billion 669 million yuan and the total liabilities amounted to 9 billion 3 million yuan.

Public information shows that the Limited by Share Ltd of Ningxia cashmere cashmere Limited by Share Ltd, formerly known as Ningxia St. snow velvet Limited by Share Ltd, was founded in 1998. It is mainly engaged in the production and sale at home and abroad of no plush, cashmere, cashmere yarn, cashmere products.

Behind the unusually hot auction market: small and medium-sized chemical fiber enterprises in recent years have had a hard time.

In recent years, the auction market is very lively. As we all know, small and medium-sized chemical fiber enterprises have been having a bad time in recent years. In addition to layoffs, pay cuts and mergers and acquisitions, enterprises are facing the problem of capital chain. Some enterprises choose to sell their property in order to seek self-protection, and even some enterprises are forced to liquidate into the auction process.

The factory premises, equipment, owners' assets, vehicles, and even the saplings of the factory area have been auctioned by law.

The above content is derived from the judicial auction platform. If there is a difference, please take the actual situation as the criterion. )

From the above data, we can see that many enterprises choose to reduce their businesses in order to protect themselves. Some transfer their own equity and some sell their property.

In addition, after the bankruptcy and liquidation of the enterprise, the remaining equipment and articles can be described as "clearance sale", which is large enough for vehicle land and air conditioning printers, all of which are packaged and sold, and the starting price ranges from tens of thousands to tens of millions. In this statistical data, what is being carried out is the glycol storage tank under the name of Zhejiang Far East chemical fiber group, which is located at the port town branch of Ningbo Port Co, and the auction price is 4032000 yuan for judicial auction again.

Speaking of Far East chemical fiber, we have to mention its parent company, Far East petrochemical.

Zhejiang Far East Petrochemical Group is a comprehensive large enterprise group which integrates polyester, polyester spinning, polyester staple, elastic, printing and dyeing, real estate and thermoelectricity as a whole. It is a state-level key high-tech enterprise, a national "contract keeping, heavy credit" unit, one of 26 key cultivation and development large enterprise groups in Zhejiang Province, and a "five batch" key backbone enterprise in Zhejiang Province, and has been awarded "gold customers" by many banks.

As one of the 5 largest PTA production enterprises in China, the Far East petrochemical company has 4 sets of PTA production units, with a total capacity of 3 million 200 thousand tons. The company covers an area of about 1370 Mu and employs 793 people, producing PTA200 million tons in 2014, accounting for 7.4% of domestic capacity and 11 billion yuan in sales revenue. The company's annual polymerization capacity has reached 800 thousand tons. It has matching melt direct spinning differential filament and short fiber production capacity, adding 280 thousand tons of DTY silk and 120 million meters of foreign dyeing and finishing fabrics. Whether it is production scale or economic efficiency, it ranks first in Zhejiang Province, and is also an influential enterprise in the field of international chemical fiber industry.

In July 2015, Far East chemical fiber was applied for bankruptcy and liquidation, and then its overall assets, including buildings, structures and other auxiliary facilities, machinery and equipment, electronic equipment, biological assets, intangible assets and so on, were auctioned for auction. The auction price was more than 1 billion yuan, and the final turnover was as high as 1 billion 600 million yuan.

"The remnant is king"! We must remain awe of the market.

At present, the chemical fiber industry is experiencing a stormy journey, with bitterness, sweetness and bitterness. In recent years, a few chemical fiber factories are still in the edge of being eliminated. The sweetness is finally coming to light in the polyester industry.

For the market, after many years of strong wind and heavy rain, the whole polyester industry is operating cautiously. Those that are nearly eliminated will become the past tense. After this wave of sand washing, I think the remaining polyester factories will be the top ones, and "the leftover is king".

I hope that while we are sob about the cruel market, we will also remind you of your awe of the industry you are engaged in.