Media Coverage explore ways to invigorate non-performing assets and "turn everything into gold" to escort the real economy
Release time:2019-08-21 11:44:25| Browse times:

"If it were not for the acquisition of this non-performing asset, there would be no orders with an annual output value of more than 100 million yuan." Dongqiang Cao, chairman of Zhejiang Greatpower Lithium Power Industry Co., was overjoyed when he mentioned the bad assets to reporters.


It is reported that the non-performing asset belongs to a factory that covers an area of about 158 mu. The sewage system, production line, laboratory and other facilities in the Greatpower factory have been renovated. About 600 million yuan has been invested in the first phase. At present, the annual output of lithium electronic power battery material is 3000 tons, and the output value reaches 1 billion yuan. After the second phase is put into operation, the annual output will reach 6,000 tons.


Recently, the reporter investigated and found that there are still many industrial investors like Greatpower who have transformed and resumed production after acquiring non-performing assets. Some firms have quit, but the good news is that more advanced productivity can be linked up. Factories that were forced to close in the past because of poor management and aggressive investment have taken on a new look.


Non-performing assets show new vitality and asset management companies play an important role. Greatpower was able to compete for this factory and realize the revitalization and value reconstruction of non-performing assets. This is the result of the accurate locking of non-performing assets by Zhejiang Branch of China Huarong Asset Management Co., Ltd. which can give full play to the asset value investors after acquiring non-performing assets. The factory of Hangzhou Yikyung chemical co., LTD could not have been reformed without the establishment of m&a fund by the asset management company to repair and restructure its assets.


Reporters learned that the current asset management companies are more inclined to choose the real business needs, to achieve maximum industrial value of the non-performing asset investors.


Asset management, once a little-known business, is playing the role of economic scavenger. As the main force of the disposal of non-performing assets, asset management companies have generally increased the investment in this field. In the first half of this year, China Orient Asset Management Company invested 49.364 billion yuan in new non-performing asset business, and China Great Wall Asset Management Company purchased 39.518 billion yuan of financial non-performing asset creditor's rights and disposed 16.618 billion yuan in cash.


Guixin Dong, secretary-general of the China Association of Mergers and Acquisitions, said that the revitalization of non-performing assets into assets with industrial value is of great significance to defuse financial risks, avoid resource waste, promote industrial restructuring and economic transformation and upgrading.


According to reports, some enterprises quit, and then asset management companies help revitalize, and new enterprises upgrade replacement ready for development in the end. With the help of the financial industry, enterprises' micro subjects metabolize and have a virtuous cycle, which injects endless vitality into Chinese economic development from survival of the fittest to high-quality development.

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