Brilliance automobile in the whirlpool of the scene

category:Finance
 Brilliance automobile in the whirlpool of the scene


It was so high spirited in those days, but now its all gone. A brilliance old employee thousands of miles away sighed.

Die without a disease is not accurate. (bankruptcy reorganization) investors have basically intended to, but it is still in the stage of confidentiality. People close to brilliance group disclosed that the debt committee is also waiting for brilliances further restructuring plan.

Brilliance to the west, BMW to the East

Huachen Zhonghua assembly workshop, located on the west side of the plant, has been shut down for several months, and the process equipment on the production line is covered with dust. Even though its office hours, the office buildings connected with it are still dark. Only a few private cars arriving at the parking lot at the gate indicate that there are still production activities here.

At present, only the stamping workshop is engaged in the production of outsourcing parts. Other workers only come occasionally, but there is no work. In the factory, a brilliance Chinese worker said that in the past two years, the people who worked in China were basically administrators and leaders. For brilliance, which was declared bankrupt and reorganized five days ago, the worker was silent for a long time, we have prepared for this.

Corresponding to the current situation of production workshop, it is the dilemma of Logistics Department of China factory. In the forklift platform area, no pedestrians warning signs are particularly prominent, but ironically, there is no one here today.

The BMW Brilliance workshop opposite China presents a completely different scene - bright lights and roaring machines, just like the performance comparison of the two companies.

According to the prospectus of 20 brilliance 01 issued in January this year, due to the poor production and sales business of the Zhonghua brand, the net assets of the parent company of brilliance were - 11.5 billion yuan, - 2.64 billion yuan and - 3.56 billion yuan by the end of 2016-2018, and the net profits were - 1.14 billion yuan, - 9.8 billion yuan and - 360 million yuan respectively.

BMW Brilliance made up for the losses. In the same period, the operating profit of BMW Brilliance was RMB 8.0 billion, RMB 10.5 billion and RMB 12.5 billion. After merging the net profit of BMW Brilliance, the average annual net profit of brilliance to the parent company was RMB 396 million.

However, BMW Brilliance alone can not save brilliance. The data shows that in the first 10 months of this year, the sales volume of Chinese brands was only about 2100 vehicles. Brilliance also admitted that several independent brands of the enterprise have been in the state of production or semi suspension in recent years, and the independent brands only produce two products of China V3 and V7, and the sales volume is low..

On November 13, due to debts of more than 10 million yuan, Gezhi automobile, a component manufacturer, filed a lawsuit to send brilliance on the road of bankruptcy and reorganization.

Restructuring is a good thing for brilliance. Its said that youll be able to go light again. The worker of Brilliance China said that he and his fellow workers do not want to see the unit which has devoted more than ten years of youth to the present situation, if there is still a chance, we would like to return to familiar jobs.

Waiting in silence

Since the court made a decision on the bankruptcy reorganization of brilliance group, all employees in brilliance have received a injunction and can not say anything The above close to the brilliance group industry said.

There is no new progress in the debt Committee of brilliance group. Everyone is waiting for the further plan of brilliance autos restructuring. In addition, insiders of Shenyang Branch of a state-owned bank said that the amount of loans from its bank to brilliance was relatively large, and the losses caused were bound to be large.

The data show that. As of October 22, the size of Huachens existing bonds was 17.2 billion yuan, of which the total amount of bonds due and sold back in 2021 and 2022 were 6.5 billion yuan and 9.2 billion yuan respectively.

Brilliance group is a key state-owned enterprise in Liaoning Province. It is not only a symbol of the old northeast industrial base, but also bears the heavy responsibilities of employment, taxation and provincial social security. Its importance is self-evident. According to Bai Yiyang, a researcher at the international research department of China Merchants Bank, corporate restructuring helps to shake off the historical burden. It can not only reduce the debt ratio and restore the financing ability, but also bring about the recovery of profitability. If the restructuring introduces war investment or debt to equity swap, corporate governance will be further optimized, especially in major investment decisions.

At present, the total assets and liabilities of brilliance are 193.3 billion yuan and 132.8 billion yuan. However, only 45.97 billion assets and 52.38 billion debts of brilliance parent company entered the reorganization procedure, accounting for 23.8% and 39.4% of the total assets and liabilities.

In the process of restructuring, brilliance group should not only consider how to overcome the difficulties this time, but also consider the long-term development in the future. In the future, there will be three kinds of restructuring plans, namely, Liaoning traffic investment as the main body, mixed ownership reform and central local cooperation Bai Yiyang said.

Bai Yiyang mentioned that Liaoning Trading had surfaced before. In May and July of this year, brilliance sold a total of 600 million Brilliance Chinas equity to Liaoning Securities Trading Group at a price of US $0.01 per share, accounting for 11.89% of the total equity of Brilliance China.

From the perspective of the current organizational structure, it is most likely to complete the restructuring with Liaoning Jiaotou as the main body. However, the mixed reform is expected to improve the level of corporate governance, and Liaoning Province has successfully built a central local cooperation model before, which has become a national model. Therefore, there are two other possibilities. Bai Yiyang said.