Yuan Bairen is from Doumen Town, Shaoxing City, and Doumen Town is also the location of Paojiang Development Zone where Zongheng Group is located. As the eldest son of seven brothers and sisters in the family, Yuan went out in his teens and sold wood in the Northeast in his early years. Yuan really made his fortune by selling cloth in Shaoxing county textile market and digging up the first bucket of gold. "Whether selling wood or cloth, one of Yuan Bairen's stunts is that you can instantly know how many squares of wood are needed to build a house, and you can know its material by touching the cloth." A person familiar with Yuan Bairen told reporters.
It was with this shrewd mind that Yuan Bairen took over Shaoxing No.5 Yarn-dyed Factory of Doumen Town Government in Shaoxing on 1992 after selling the cloth on 13. At that time, the factory lost nearly 2 million yuan, with outdated equipment and backward mechanism. Yuan Bairen's shrewdness in capital operation has also been further exerted. The usance letter of credit was one of his earliest tools. When Yuan Bairen took over the fifth yarn-dyed factory, he introduced advanced equipment by issuing a long-term letter of credit. The long-term letter of credit can postpone payment, which relieved Yuan Bairen's financial pressure. Since then, during the Asian financial crisis, Yuan Bairen once again displayed his financial skills and borrowed Japanese yen to buy machinery and equipment. Since then, the yen has depreciated sharply, and Yuan has made a lot of profits here-this story is widely circulated in Shaoxing. Another supplier of Zongheng Group said: "Boss Yuan is a generous person, absolutely good." Before the incident, the supplier's money, "don't rush, I will pay you back on schedule, even if it is usury." According to people close to Shaoxing Bank, about two months ago, the financial crisis of Zongheng Group reached a terminal illness. At the bank coordination meeting, Yuan Bairen couldn't help but burst into tears.
Today, Yuan Bairen has been controlled by relevant departments and the phone cannot be connected. One of Yuan Bairen's criticisms is that his management is too chaotic. "For example, during the audit, it was found that the waste from his factory was not accounted for. According to normal operation, every 100 ton of raw materials will produce 3 tons of waste products. According to the daily consumption of 1 0,000 tons of raw materials by Zongheng Group, the daily capital loss will reach10.8 million yuan. " A supplier of Zongheng Group said. In addition, according to informed sources, the general manager hired by Yuan Bairen also has his own factory and has related transactions with Zongheng Group to provide product packaging bags for him. In terms of sales, Zongheng Group is also full of loopholes. "Such a big enterprise is just a little bit leaking." The above-mentioned people sighed to reporters. During the Yuan-style Great Leap Forward, bank funds contributed greatly to the expansion of Zongheng Group. When Yuan Bairen started his business, it was largely driven by bank funds. A local person familiar with Shaoxing said. According to this person, the initial funds of Zongheng Group came from banks. "For example, if a project is launched, Yuan Bairen's company will make a feasibility report. Originally, it only needed 1 billion, but he reported that it needed 300 million, including self-raised funds 1 billion and bank loans of 200 million. But in fact, I don't have any money at all. In this way, he only spent 1 100 million, borrowed 200 million, and still has 1 100 million at his disposal. " In this regard, Yuan Bairen began the journey of "Great Leap Forward".
In 2003, Yuan Bairen tried to expand upstream and planned a PTA production line. However, since then, this project has not been approved by the National Development and Reform Commission, and this production line was finally transferred to Hualian Sanxin, which was approved by PTA project at that time and had a deeper shareholder background. "At that time, Yuan Bairen planned to register a company to do PTA projects with a registered capital of 4 billion. Moreover, this part of the registered capital is also a bank loan, and the interest on 10 day is as high as 1 100 million yuan. After the capital verification is completed, the money will be returned. " People familiar with the situation at the time said. In the end, Yuan Bairen's grand plan failed, and Yuan had already encountered a capital chain crisis. Later, he solved the problem by collective blood transfusion of many local enterprises in Shaoxing. In the eyes of people familiar with Yuan Bairen, Yuan's obsession with expanding capital operation largely benefited from his windfall around 200 1. "At that time, Yuan Bairen bought a batch of polyester, and then there was a lot of backlog. But I didn't expect him to gamble correctly and make a lot of money from it. " Since then, Yuan Bairen has set foot in local commercial banks, energy, steel and other fields. "But since then, his investment has rarely been successful." Yuan Bairen once planned to let Zongheng Group go public in domestic IPO, but with the entry of the organization, he found that the property rights were quite chaotic, and Yolanda was disheartened. With the gradual tightening of bank credit approval, Yuan Bairen's tried and tested moves began to change, and mutual insurance became one of his variants. Strangely, however, in Shaoxing, where mutual insurance is quite strong, there are not many enterprises that guarantee Zongheng Group. It was previously reported that Seiko Group was involved, but later the company came out to rumor that there was no guarantee.
The road to reorganization
Compared with Hualian Sanxin, the restructuring of Zongheng Group is more difficult. "Hualian Sanxin's production capacity and equipment are the most advanced, and the industry has been in a downturn for a long time. Some companies are willing to go in and gamble. And Zongheng Group, its equipment is relatively old, plus the booth is too big, and there are not many dare to follow. " A creditor of Zongheng Group is not optimistic about its restructuring. According to Shaoxing Bank sources, so far, Zongheng Group's total liabilities are about 7.8 billion yuan, and its remaining assets are valued at about 3 billion yuan. In the eyes of people familiar with the matter, the Shaoxing municipal government has handled it better, that is, "let enterprises not stop working." The reporter learned that the Shaoxing municipal government has initially drawn up six measures, including the government providing 65.438+0 billion yuan of interest-free government-guaranteed loans for 654.38+00 years (it can also share shares with state-owned funds after restructuring according to Hualian Sanxin model, not participating in dividends, and withdrawing in time), changing the land use nature of relevant plots, and requiring the guarantee enterprises to bear some responsibilities. In fact, the business of Zongheng Group has been undertaken by Shaoxing local enterprise Zhejiang Zhoushan Road New Materials Co., Ltd. (hereinafter referred to as "Zhoushan Road"). "And this is just a delaying tactic for the government to reorganize the Zongheng Group. At present, there is no suitable reorganization party." Shaoxing local bankers close to Zongheng Group said frankly. However, there is still some time for Zongheng Group to get out of the predicament. The processing contract of Zhouzhi Road has been extended from the previous two months to half a year, and the processing cost has also increased to 80,000 yuan per day. "Doing so will not lead to factory shutdown and chaos, thus paving the way for restructuring." A person familiar with the matter said. Around the vertical and horizontal reorganization, including Shaoxing local private boatmen's road, Blessing Group, Shaoxing local state-owned Zhejiang Chemical Fiber Union Co., Ltd. (hereinafter referred to as "Zhejiang Hualian"), Xiaoshan PTA production enterprise Yisheng Petrochemical, and even an investment company in Beijing and Handan Vertical and Horizontal Iron and Steel Group (hereinafter referred to as "Vertical and Horizontal Iron and Steel"), various versions have come and gone. "There are two paths to restructuring, one is overall restructuring, and the other is split and reorganized. The former is similar to the model of Hualian Sanxin and is more popular with the government. " A person close to the Shaoxing municipal government said. The source also briefed the reporter on the restructuring of local governments. "The first choice is vertical and horizontal steel." The person told reporters. Zongheng Steel is an investment project of Zongheng Group in Handan, Hebei Province in 2003. However, in July 2005, Zongheng Group transferred 40% equity of Zongheng Steel to Handan Sanlian Iron and Steel Metallurgical Casting Co., Ltd., and the two parties have no equity relationship so far. According to public information, Zongheng Steel is a Sino-foreign joint venture, which was established in 2003. Located in Hucun Industrial Zone in the western suburb of Handan City, this enterprise is a comprehensive iron and steel joint enterprise integrating sintering, ironmaking, steelmaking, steel rolling, oxygen production and residual heat and pressure power generation. It has more than 4,000 employees and produces more than 2.5 million tons of iron, steel and wood every year. It is a large-scale iron and steel enterprise group supported by Hebei provincial government during the Eleventh Five-Year Plan period and the largest local private iron and steel enterprise in Handan. In 2007, Zongheng Steel achieved a strip output of 30 1 10,000 tons, with sales income of 9 billion yuan and profits and taxes of more than 654,380+0 billion yuan. However, on June 5438+February 1 1 day, an insider of Zongheng Steel said that although the Shaoxing Municipal Government sincerely invited Zongheng Steel to participate in the restructuring, Zongheng Steel was "unintentional and unable to participate".
In addition, another hot topic of restructuring Zongheng Group is Shaoxing local state-owned enterprise Zhejiang Chemical Industry Union. "But this year, Zhejiang Hualian had a hard time. If you participate in restructuring, you will inevitably need the strong support of local governments. " The person told reporters. Zhejiang Hualian's status as a state-owned enterprise has increased a lot of chips for its restructuring of Zongheng Group. "If Fang Shimin enterprises are reorganized, local governments will give too many policies, and it is easy to bear political risks, but state-owned enterprises need not worry." The person commented. According to informed sources, the restructuring plan of Zhejiang Hualian is currently being worked out, and the biggest policy given by the local government is to change the nature of some land owned by the company from industrial land to commercial land. This method has been adopted by local governments in many crises of Shaoxing enterprises.