"You can actively participate in the restructuring of the enterprise, and hope to make the enterprise achieve better development through your own efforts, this courage and determination is worthy of recognition. ”

Bao Feiyang said with a smile: "Of course, I also believe that since everyone has the idea of participating in the restructuring of the enterprise, they are also very optimistic about the prospects after the restructuring of the enterprise." It has been more than 20 years since the reform and opening up, and in the past 20 years or so, we have done a lot of things, but in the final analysis, we are actually doing one thing, that is, loosening the bonds, loosening the restrictions on the economy, loosening the bonds on society, and also loosening the restrictions on the state and the government, and loosening the bonds for everyone...... After the relaxation, the driving force of economic development came out, so in the past 20 years, our economy has developed rapidly, and everyone has been loosened, everyone's motivation has also come out, and the ability has also been brought into play, so some people have become rich and grown up first, and more and more entrepreneurs have appeared......"

"Enterprise restructuring is also a thing in the process of loosening, we must loosen the constraints on enterprises, loosen the various factors that hinder the development of enterprises, and let everyone take great strides forward. I believe that everyone can see this historical process, it is foreseeable that with the completion of the three-year reform of state-owned enterprises, the constraints tied to most of the domestic enterprises will be loosened, and the biggest constraints restricting China's economic development will also be loosened, and after being loosened, the domestic economy will usher in a new wave of development climax, so all walks of life, there will be a very good development environment, and as long as the enterprise is loosened, we will do it seriously, it will definitely be able to do well. ”

Chen Jingming smiled and said: "It is said that the mayor of the Bao District is an expert in the economy, since the head of the Bao District came to our Huixun, there have been several major projects in the district, whether it is Tianjiang Economic and Technological Development Zone, or Dongsha Industrial Zone, Huixun University Town, our Huixun is really changing every day......

"That's right, but what I feel most about is not these projects brought by the head of the district, but through these projects, the head of the district has laid the development pattern and foundation for our Huixun District in the next ten or even twenty years. It can be said that with this framework built by the mayor of Bao District, there will be no problems in the development of Huixun District in the future for 20 years, and sooner or later it will become one of the best areas in Pujiang City!"

"Yes, the overall situation and future vision of the mayor of Bao District are indeed difficult for ordinary people to reach, so the judgment on the future economic trend just mentioned by the mayor of Bao District also greatly increased my confidence. The building materials factory has been sluggish in recent years, but as long as the restructuring is successful, we building materials people are also confident that the enterprise will be done well!"

Bao Feiyang waved his hand, he just listened to these praise sycophants, and he wouldn't take them seriously. As for laying the foundation for the next 20 years in Huixun District...... It is far from enough to be just a few large projects and development zones, and whether or not we can smoothly promote the current enterprise restructuring work is the key.

Bao Feiyang said with a smile: "If this restructuring is successful, so that the current enterprises in Huixun District can travel lightly and flourish, it will lay the foundation for the development of Huixun in the next 20 years, and to achieve this, everyone's efforts and contributions are indispensable." ”

After some greetings, Bao Feiyang once again talked about the issue of asset appraisal in the restructuring: "It is a common traditional method to determine the share capital of an enterprise according to its net assets, which has its reasonableness, but also its unreasonableness. ”

"Just like the things we usually buy, the price is not necessarily determined according to the cost price plus a reasonable profit, there is still a big difference between the company we buy and the consumer goods we buy. Specifically, the acquisition of an enterprise is not only to buy plant and equipment, but also to buy plant and equipment, but also to include a complete set of tangible and intangible assets of the enterprise from business license, production license to technology accumulation, production experience, and sales channels. The ability to sell, even if these capabilities seem to be poor, but compared to starting from scratch, the acquisition of existing enterprises can save a lot of time and energy, for a simple example, Chen Factory Director is now 4 million, how long will it take to build a factory with a production capacity comparable to that of the second agricultural machinery factory?"

Chen Jingming pondered for a while and said: "This depends on the situation of the formalities handled by the government, if everything goes well, considering the cycle of plant construction, it should be possible in half a year at the earliest!"

"Is four million really enough?" asked Bao Feiyang.

Chen Jingming thought for a while and said: "It is definitely not enough to build a new factory, but the plant of the second agricultural machinery factory is old, and the equipment is also old......

"The factory building is indeed old, and the equipment is also old, but it can still produce normally, if you go to buy second-hand factories and second-hand machines, is it possible to achieve it?" Bao Feiyang continued to ask.

Chen Jingming shook his head: "Even if it is second-hand, it is impossible to take down the plant and equipment of the second agricultural machinery factory for four million, in fact, the asset assessment of this piece is nearly 10 million, but there are many problems in the second agricultural machinery factory, especially the debt." ”

Bao Feiyang waved his hand and said: "Let's not talk about debt, that is, just plant and equipment, even if it is second-hand, it will be at least eight or nine million, and if you directly acquire the shares of the second agricultural machinery factory, you can also save at least half a year's time, half a year, just say that the income should be a lot, and more importantly, be able to occupy the market in advance and gain competitive advantages, which is also crucial for the future development of the enterprise!"

Bao Feiyang said: "In the mature stock market and capital market, the evaluation of enterprise value depends on the quality of enterprise assets and the net assets of the enterprise, but in the end, the market value of the enterprise is not equal to the net assets, but also depends on the intangible assets of the enterprise, the ability and potential of production and operation, and the profitability and potential ......."

"The operating conditions of many enterprises in the district are not very good, there are many reasons, taking the second agricultural machinery factory as an example, the market situation of agricultural machinery is very good, especially since this year, the market recovery is strong, and the potential of the export market is also huge. The second agricultural machinery factory also has a good production capacity and perfect sales channels, although the current sales situation is not good, but it is still very stable. The problem of the second agricultural machinery factory is that the product model is old, can not keep up with the changes of the times and the requirements of the market, that is, the upgrading and product design has not kept up, there is not enough market development ability, the development ability is not enough, on the one hand, because of the product problem, there is the ability of the sales staff can not keep up, compared with some private and joint-stock enterprise sales personnel, the sales staff of the second agricultural machinery factory is not proactive enough, has not changed from the past to wait for customers to go to the ground to find customers, Pull customers up, I am talking about the overall situation, last year the second agricultural machinery factory participated in the Canton Fair, and got an order from the United States, which shows that your management is still aggressive, should also be aware of the problems of the enterprise. ”

Bao Feiyang said: "The benefits of the second agricultural machinery factory are not good, in addition to the market has not been completely opened, in a small achievement, there is an expansion at the same time, but also lost a lot of market, sales have not improved much, but also with the heavy historical burden of the enterprise, huge bank loans and liabilities, including a large number of inventory and accounts receivable, as well as redundancy is seriously related. ”

"Restructuring is not throwing burdens, the district has determined to withdraw from some of the district's enterprises, sell all or most of the equity, but the district is not a change to the restructuring of the enterprise, and then ignore it, the purpose of the restructuring is to loosen the bindings for everyone, is to solve the problem, some historical problems are more serious, can only make certain sacrifices, but can solve the problem, we hope to solve it through the restructuring. ”

"Take the second agricultural machinery factory as an example, the asset appraisal and the write-off of non-performing assets should be carried out at the same time, we must assess the present value and risk of non-performing assets, and carry out corresponding write-off and evaluation of total assets according to the situation of non-performing assets. In terms of debt, it is also necessary to help enterprises make reasonable arrangements, such as interest reduction, installment repayment, and debt-to-equity swaps. The district will also actively mobilize resources from all aspects to solve problems in production and sales for enterprises, so that enterprises can develop better......"

At the meeting, Bao Feiyang gave a more detailed interpretation of the policies in the district, and at the same time, the district also determined the restructuring schedule of some enterprises according to the research situation and the feedback of the enterprises themselves.

At the same time as doing the work of enterprises in the district, Huixun District has issued a restructuring of enterprises in the district, welcoming all kinds of capital to participate in the news and invitation, with the progress of the restructuring work, there are also some enterprises and capital interested in Huixun District enterprises to send personnel to visit.

The district has also hired a number of professional auditing companies, accounting companies, and management consulting companies to investigate the situation and take inventory of the assets of the enterprises to be restructured, and have taken the lead in restructuring some enterprises whose conditions are relatively simple.

Taking the No. 2 Agricultural Machinery Factory in the district as an example, the assets of the No. 2 Agricultural Machinery Factory were re-audited and counted, and in consideration of the inventory loss and bad debts, the total assets of the enterprise were finally determined to be 37 million, which was 6 million more than the original figure. Correspondingly, corporate payables and past bad debts are written off. The net assets of the enterprise were finally determined to be 20 million.

Compared with the original plan, the land of the No. 2 Agricultural Machinery Factory is no longer included in the asset project, but a new lease contract has been signed, and the district will deduct part of the inventory loss and bad debts of the No. 2 Agricultural Machinery Factory with five years of rent.

The biggest difference is also in the resettlement of employees and the treatment of debts, part of the bank loans and corporate debts into shares of the No. 2 Agricultural Machinery Factory, this part of the debt reached 7 million, and in the case of debt deduction, the total share capital of the enterprise increased to 27 million.