Photovoltaic giant enterprises in the hottest wint

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Photovoltaic giant enterprises in the cold winter gradually enter the nationalization channel

large photovoltaic enterprises in the cold winter gradually enter the nationalization channel

according to media reports, recently, representatives of four ministries and commissions including the Ministry of Commerce, the national energy administration, the Ministry of finance, the Ministry of industry and information technology and 36 banking institutions held a meeting in Baoding, Hebei Province to discuss the future development direction of China's photovoltaic industry. At the meeting, people from all ministries and commissions basically reached an agreement to "protect the large and discard the small" for photovoltaic enterprises to enhance their competitiveness

the so-called protection refers to preferential policies, capital transfusion, expanding domestic demand, straightening out the upstream and downstream relations of the industrial chain and other measures. This is an emergency measure to avoid social problems such as large-scale unemployment caused by enterprise bankruptcy and exposure of the debt chain of banks and local governments. The government entered to exit, just as the U.S. government saved Wall Street to exit. If the emergency becomes the norm, the photovoltaic industry will go from the 10th floor of hell to the 18th floor

it is reported that on October 19, Jiangxi Saiwei sold 19.9% of its shares to Hengrui new energy, a state-owned enterprise. After that, the internal directors ushered in a "big change". Tong Xingxue took over Peng Xiaofeng as CEO, and four new members entered the board of directors, three of whom were with an error of 0.01, 200kn and 5kn, with Xinyu state-owned backgrounds. According to the media, Suntech Power may cooperate with a state-owned enterprise in Wuxi, Jiangsu Province to alleviate the company's financial difficulties. The partner may be Wuxi Guolian development (Group) Co., Ltd. (hereinafter referred to as "Wuxi Guolian") under the state owned assets supervision and Administration Commission of Wuxi

this may not be good news for the two enterprises. I wonder whether the new entrants' industry advantages, the authenticity of huge assets and development potential can withstand the scrutiny of time

Liu Zhibin, the director of Saiwei, is the chairman and general manager of Xinyu state owned Assets Management Co., Ltd; Liu Xuezhi, the director, is the vice president of Beijing Hengji Weiye Investment Development Co., Ltd. Wang Yi, an independent director, is the chief strategic adviser of China Shenfei group and the financial adviser of Xinyu Municipal People's government. Wu Shian, an independent director, is currently the president of Jiangxi Yuzhou Vocational College of science and technology, a member of the Standing Committee of Jiangxi Provincial People's Congress and a vice chairman of the education, science, culture and Health Commission of the provincial people's Congress. The background of state-owned assets is not a problem. The key is whether the management of Savi is professional and whether it is a real "director" in solar energy and photovoltaic. And Henderson Weiye, the enterprise behind the scenes, is still half covered in terms of clean energy and new energy

as for Wuxi Guolian, which was founded in 1999, is a wholly state-owned enterprise group funded by the Wuxi Municipal People's government and granted the qualification of state-owned asset investment subject. It focuses on the development of finance, and integrates trust, securities, futures, financial companies, guarantees, banks, property rights transactions, funds and other financial institutions on the same platform. If financial groups are allowed to take shares, the nature is financial M & a funds, or through capital transfusion, The core is still to send a professional and responsible management and technical team as soon as possible. Little attention has been paid to enterprise reorganization, while much attention has been paid to debt restructuring, indicating that rescue is a short-sighted emergency

when enterprises encounter difficulties, they are faced with the possibility of market-oriented asset restructuring. After the assets reorganization, the value should be increased, and the enterprise should be reborn after the reorganization. The core is the disposal of assets, the re selection of development direction, and the selection of the leader. Otherwise, it will become the famous barbarian at the door (editor's note: there is also a big distinction between small and different companies about the consequences before the acquisition of RJR nabesk). The more the assets are disposed, the worse it will be. Compared with the corresponding thermosetting materials, China's documented internationalization reorganization was the deep development of Xinqiao reorganization. After the reorganization, it was sold to Ping An of China at several times of the price. Xinqiao sent a new management team to restructure the business, establish a strict risk control system, and curb non-performing loans, which was exactly the problem of the decline of deep development at that time

there is another way, the government directly. After the financial crisis, the U.S. government rescued large financial institutions to prevent large banks on Wall Street from burning and the crisis from getting out of control. However, the rescue of the US government did not deliver nourishment to financial institutions at no cost. The U.S. government provided guarantees for the $306billion worth of assets on Citigroup's books, including mortgage-backed securities and other assets. The government received $27billion worth of preferred shares from Citigroup, which charged an interest rate of 8% in the first few years, which was higher than dozens of other banks that lent to the Ministry of finance under the $700billion rescue plan. Not only that, during the period of government assistance, all enterprises funded by the U.S. government must be subject to government regulation on executive compensation - which makes major financial institutions on pins and needles. After the situation improves, they can repay the loan and redeem their freedom as soon as possible

it can be seen that the purpose of the government's takeover is not to completely nationalize financial institutions such as Citigroup, but to give enterprises a breathing space to continue to develop. When the government enters, it is supervision rather than sending teams to operate. Entering is to exit

China's photovoltaic industry is just the opposite. Not only local state-owned assets, but also state-owned enterprises began to enter on a large scale. Pingdingshan Yicheng New Material Co., Ltd. under Pingdingshan Shenma Group and Saiwei jointly established "Pingdingshan Yicheng new energy Co., Ltd." at present, the asset liability ratio has reached 100%; Sinoma International Engineering Co., Ltd. and Savi signed a cooperation framework agreement, and the two sides will jointly develop and construct solar photovoltaic power stations; China ENFI Engineering Technology Co., Ltd. also decided to carry out strategic cooperation with Savi in the field of polysilicon photovoltaic industry. According to the introduction of the station, China Enfei Engineering Technology Co., Ltd. is an international engineering company established by China Nonferrous Metals engineering design and Research Institute in accordance with the modern enterprise system of equity diversification. Whether Savills, Suntech, or photovoltaic enterprises that are fortunate to be called large enterprises and included in the protection list, the probability of partial or even full nationalization is increasing

Shi Lishan, deputy director of the Department of new and renewable energy of the national energy administration, was right: "although the development of the photovoltaic industry is bright, the prospects of not all enterprises are bright". The rescue of the government cannot spread to all enterprises. More importantly, the prospects of an enterprise are not determined by the size, but by the leading degree of technology and the perfection of management

market restructuring or government rescue is to select enterprises with strong vitality and negative and honest enterprises. It is much better to subsidize really good enterprises by testing power conversion efficiency and environmental protection data than to blindly save large enterprises. Zhonghua glass () Department

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