The Winter Has Arrived: A Leading Chemical Fiber Enterprise In Zhejiang Has Gone Bankrupt And Bankrupt, And 826 Million Yuan Has Been Auctioned Off.

Huaxin Chemical fiber is one of the top 100 enterprises in Ningbo and China's chemical fiber leading enterprises, mainly producing polyester filament and polyester chips. In November 5th, the news of the bankruptcy auction of Hua Xin chemical fiber was in the circle of friends.

At present, the new, old Huaxin Park, real estate and operation equipment are actually occupied by Ningbo Da Wo Chemical Fiber Technology Co., Ltd. to maintain the normal operation of the company, and Xin Huaxin still employs thousands of employees. There is no wage arrears at present. The auction is to determine the new and old Huaxin to reorganize investors. The highest bidder will become the new and old Huaxin restructured investor, and enjoy 100% of the new and old Huaxin shares. The reorganization assets under it are limited to the operating assets under the name of new and old Huaxin.

　　 On 05 November 2019 10:29:09, the final auction price was 826000000 yuan.

Bankruptcy continues to ferment

Affected by the global financial crisis and bank lending, various kinds of negative information happen frequently in chemical fiber enterprises: parking, bankruptcy, bankruptcy and reorganization. Some factories with limited production capacity and limited capital strength have to face the risk of being eliminated in the fierce competition. But the reality is that the problem of excess capacity in polyester industry is still serious.

This year, due to the lack of terminal demand and other factors, the survival conditions of chemical fiber textile enterprises are much more difficult than in previous years. Except for textile enterprises, the bankruptcy auction case of chemical fiber enterprises on Taobao judicial auction website has increased a lot.

　　 As is known to all, 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 insurance, 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 were all auctioned off by law.

Why are bankruptcy liquidation reasons?

However, these famous textile and chemical fiber enterprises in Xiaoshan still can not escape from bankruptcy and liquidation, and once the scenery is boundless, they are now disappointed. What causes it?

1, the market demand situation has changed, resulting in unsalable product sales and production decline.

2, when liquidity is seriously insufficient and enterprises can not operate normally, especially when the state is tightening money, enterprises can not borrow money from banks, and there are no other channels for financing, resulting in enterprises unable to produce normally, and good equipment can not give full play to their advantages.

3, enterprise managers make mistakes in decision-making, without serious feasibility investigation and study, blindly expand the production of new production or new projects, resulting in too heavy business burden, so that the original operation of the business downturn.

4, debt management is a double-edged sword. Good use can enable enterprises to raise funds quickly, reduce operating costs, reduce tax burden, gain financial leverage benefits, and so on. However, if the choice of liabilities, quantity, channel and mode is unreasonable, and improper use of debt funds, it will also bring a lot of negative effects to enterprises.

Leading industry carries on strategic conformity as carrier

Big but not strong is the "heart disease" of chemical fiber industry in most areas. It is precisely because of this, the chemical fiber textile industry forced transformation, more and more areas of chemical fiber textile industry "re integration".

For example, the Xiaoshan government has announced on the Internet: plans to close down 1000 enterprises (workshops); upgrade 1000 enterprises; all 8 recycled fiber enterprises are shutting down; shutting down the city line chemical fiber (polyester) enterprises 2, from the current 14 to 12 below; shutting down the ring line printing and dyeing enterprises, the existing 35 printing and dyeing enterprises into more than 19 enterprises.

　　 At present, the top six polyester filament enterprises in the industry include more than half of the total capacity of Tong Kun, Xin Fengming, Sheng Hong, Heng Yi, Heng Li and Rong Sheng, and the industry concentration has been improved. In the next few years, polyester filament is still expanding only large enterprises such as Tong Kun, Xin Fengming and Sheng Hong, and the industry concentration will be further improved. With the three places of Jiangsu Wujiang, Jiaxing Tongxiang and Hangzhou Xiaoshan as the representative, the capacity gathering area has gradually matured, and the polyester River and lake have ushered in the "Three Kingdoms era".

According to industry analysis, some small businesses that are weak in production capacity and can not be transformed in time will be reorganized and eliminated in the shuffle.

In the development of high and new technology today, all walks of life are no exception, especially in traditional chemical fiber textile industry. Apart from long-term precipitation, we need more innovative power to occupy the market with new products and technologies.

In addition, the added value of textile products can not be ignored. There is no doubt that in the face of the increasingly globalized and open chemical fiber textile market, there are opportunities and challenges for any country, any enterprise, any chemical fiber textile person, and there is an infinite possibility.