Vice governor of Henan Province: credit is the life of an enterprise

category:Finance
 Vice governor of Henan Province: credit is the life of an enterprise


According to the Henan provincial government network, Wang Xinwei is responsible for the supervision of industry and operational state-owned assets and enterprise reform, and is in charge of the Provincial Department of industry and information technology and the state-owned assets supervision and Administration Commission of the provincial government.

On November 10, Yongmei holdings announced that due to the shortage of working capital, 20 Yongmei scp003 failed to pay the principal and interest in full on schedule, which has constituted a substantial breach of contract, involving a total amount of 1.032 billion yuan of principal and interest, causing widespread concern in the market.

The reasons for the market to question Yongmeis debt evasion are as follows: the money on the account is not paid back, the resources are not coordinated to cash the bonds, and the equity of Zhongyuan bank is transferred. In particular, Yongmei announced on November 3 that it plans to transfer shares of Zhongyuan bank and several coal chemical industry subsidiaries which are insolvent. The total amount of assets transferred out free of charge involves net assets of - 560 million yuan and net profit of - 700 million yuan in 2019.

Market participants questioned that although Yongmei will be the loss of the chemical sector, but as a high-quality asset, Zhongyuan bank has also been transferred out free of charge. Yongmei holds 1.15 billion shares of Zhongyuan bank, with a shareholding ratio of 5.76%. According to the recent stock price calculation, the market value of Yongmeis shares in Zhongyuan bank is about 1 billion yuan. Financial data show that in the first half of this year, Zhongyuan bank realized a net profit of about 2 billion yuan, and roughly calculated that the investment income of Yongmei was 110 million yuan.

The reporter learned that at the 20 Yongmei scp003 holder meeting held on November 23, the relevant person in charge of Yongmei responded that the equity transfer of Zhongyuan bank was not a free transfer, but a consideration transfer. In order to raise funds as soon as possible, if we follow the procedures for the sale and purchase of state-owned assets, the evaluation period will be long. In fact, the stock price of Zhongyuan bank is less than HK $1 / share, and the actual transfer is based on the price of 2 yuan / share, and the coal assets are also included in the bank

China government website disclosed on November 22 that the financial stability and Development Committee of the State Council held the 43rd meeting of the Financial Committee on November 21 to study and standardize the development of the bond market and maintain the stability of the bond market. The meeting proposed that we should improve our political standing and earnestly fulfill our responsibilities. Financial supervision departments and local governments should proceed from the overall situation and in accordance with the requirements of comprehensively ruling the country in accordance with the law, resolutely safeguard the authority of the legal system, implement the regulatory responsibility and territorial responsibility, supervise and urge all kinds of market entities to strictly perform their main responsibilities, and establish a good local financial ecology and credit environment. The meeting also pointed out that we should uphold the zero tolerance attitude and maintain market fairness and order. We should strictly investigate and deal with all kinds of illegal acts such as fraudulent issuance, false information disclosure, malicious transfer of assets and misappropriation of issuance funds in accordance with the law, severely punish all kinds of evasion and cancellation of debts and protect the legitimate rights and interests of investors. Source: Chen Hequn, editor in charge of economic report in the 21st century_ NB12679

China government website disclosed on November 22 that the financial stability and Development Committee of the State Council held the 43rd meeting of the Financial Committee on November 21 to study and standardize the development of the bond market and maintain the stability of the bond market. The meeting proposed that we should improve our political standing and earnestly fulfill our responsibilities. Financial supervision departments and local governments should proceed from the overall situation and in accordance with the requirements of comprehensively ruling the country in accordance with the law, resolutely safeguard the authority of the legal system, implement the regulatory responsibility and territorial responsibility, supervise and urge all kinds of market entities to strictly perform their main responsibilities, and establish a good local financial ecology and credit environment.