Three Major Cotton Mills In Zhengzhou

On the morning of 21 th, Crowne Plaza, Zhongzhou, Zhengzhou, with the three hammer of the auctioneer, the Zhengzhou one cotton, three cotton and four cotton successfully pferred the overall property rights with the total price of 627 million yuan.

This means that from this moment, 6 state-owned cotton spinning enterprises in Zhengzhou turned into private enterprises.

The auction was held at the crown holiday hotel in Zhongzhou, Zhengzhou at 21 a.m. at 10 a.m., which attracted a lot of attention.

Because the target of the auction is the overall property rights of three cotton spinning enterprises in Henan song Yue Group, namely Zhengzhou cotton limited liability company (hereinafter referred to as cotton), Zhengzhou Sanmian limited liability company (referred to as Sanmian) and Zhengzhou four cotton limited liability company (referred to as four cotton).

On the same day, a total of 6 enterprises were eligible to participate in the auction.

There is no suspense about the auction. The overall property rights of the three cotton spinning enterprises are all sold at the bottom price.

Yi cotton was jointly shot by Zhengzhou Weisheng Investment Co., Ltd. and Zhengzhou Hanyuan Real Estate Co., Ltd. at a price of 235 million 254 thousand and 400 yuan. Four cotton was jointly captured by Henan Sheng run real estate Co., Ltd. and four cotton property limited company at 186 million 853 thousand yuan price. Sanmian was jointly shot by Henan plains holding group and Zhengzhou Hongxing Real Estate Co., Ltd. at 204 million 978 thousand and 400 yuan price.

What is interesting is that almost no one in the auction is willing to increase the price, even if the minimum fare increase is only 5 thousand and 600 yuan, and no one is playing cards, and auction and signature confirmation will all come to an end within 30 minutes.

Ding Zhengzhong, chairman and general manager of Henan song Yue Group, told reporters, "compared with the expectation, the auction is relatively smooth on the whole, and I have full confidence in the future."

A staff representative of song Yue Group said, "the land price has dropped a lot compared with last year. If it was sold last year, it would certainly sell more money."

A person in charge of the Zhengzhou SASAC said that the success of the auction is a milestone in the process of restructuring Zhengzhou's state-owned enterprises.

[review] cotton textile enterprises to accelerate strategic restructuring, according to Ding Zhengzhong, more than 50 years ago, the state invested 176 million yuan in Zhengzhou, successively built 6 national all-around large-scale cotton textile mills, that is, Zhengzhou's first to six country cotton mills, and Zhengzhou has since become one of the six major textile bases in the country.

These cotton mills have been profitable for a long time. In the past 50 years, they have accumulated 7 billion 100 million yuan in national profits tax.

In the late 1990s, due to the inflexibility of the mechanism, the backwardness of equipment and the shortage of funds, the major cotton mills had been wandering in difficulties.

The two plant of the former national cotton mill was pferred last year, and the five factories and six factories of the former national cotton were implemented policy bankruptcy.

Before and after 2002, banks in the name of Asset Management Co entered into shares of cotton, three cotton and four cotton for debt to equity swap without paying interest.

However, the state-owned assets have not withdrawn and the status of the employees has not been changed.

In 2003, the "land for survival" method was adopted by the government, that is, the relocation of the six major cotton mills, the pfer of the right to use the original site to the real estate developers, the renewal of the equipment with the land price difference and the re participation in the market competition.

As early as in 2006, four cotton joint venture with Zheng Dong New District Thermal Power Co., Ltd. and Henan sunrun Real Estate Co., Ltd.; Henan plains holding group has acquired part of the stake in Sanmian, while Henan plains holding group is a holding company of Zhengzhou China Garden Construction Development Co., Ltd., a local real estate enterprise in Zhengzhou.

Under the direct leadership of the Zhengzhou municipal Party committee and municipal government, since 2005, the strategic reorganization of the textile industry in Zhengzhou, which has the largest assets, the largest number of personnel and the most complicated contradictions, has been launched in an all-round way.

By the end of 2007, more than 30 thousand state workers had been completed.

Based on this, Zhengzhou has made a plan to set up a "Textile City".

In the envisage, the corresponding industries will move together, plus several large cotton mills that have been upgraded and upgraded. Zhengzhou has become a National Textile City, and many cotton mills that have been losing money can also reappear brilliantly.

The plan immediately entered the actual operation procedures, but then there were differences among the parties concerned, which eventually led to several cotton mills scattered to three places.

Therefore, the relevant departments in Zhengzhou speeded up the strategic reorganization process of several cotton spinning enterprises.

[investors] invest 6 billion 500 million to build three first-class textile enterprises. "In the process of attracting foreign investment, we have identified the guiding ideology of changing land and real estate development into industrial restructuring and cooperation. We must invest in a certain scale of modern textile enterprises in the suburbs of Zhengzhou within a certain period of time, so as to allow the relocation of old enterprises, and to make Zhengzhou textile industry bigger and stronger. We must give priority to resettlement of old enterprises, and we must assume the debts of old enterprises.

On the premise of meeting the above conditions, the old enterprise site can be developed according to the unified urban planning of Zhengzhou.

Ding Zhengzhong introduced.

In the past two years, one cotton, three cotton and four cotton have carried out strategic investment negotiations with more than ten enterprises respectively.

After repeated consultation and screening, and through strict legal procedures such as assessment and auditing, and after 40 days' publicity, a total of 6 enterprises were eligible to participate in the auction.

Among the 6 enterprises, 5 are real estate development enterprises. Only Zhengzhou Weisheng Investment Co., Ltd. is a subsidiary of Fuzhou Hua Guan group, and the Hua Guan group is a textile enterprise.

Ding Zhengzhong said that under the severe impact of the textile industry and the real estate industry, these enterprises dared to accept the overall property rights of cotton, three cotton and four cotton, indicating that they have the strategic vision and strong strength to invest in Zhengzhou's textile industry.

"According to the agreement of intent signed between enterprises and investors, the investors will invest 6 billion 500 million yuan in installments, and build 3 world-class textile enterprises in Zhengzhou suburban counties, with four times the spindle stock, and the sales revenue and profits tax will be 4~5 times.

At that time, Zhengzhou textile industry is expected to create brilliant future. "

Ding Zhengzhong said.

Chang Wei, general manager of Henan sunrun Real Estate Co., Ltd., said: "we bought land in Baisha Town Industrial Park in Zhongmu County, and the factory will soon be relocated.

According to the plan, the cotton, the second cotton and the six cotton moved to the Longhu Industrial Park in Xinzheng, and the third cotton was stationed in the Zhongyuan Textile City of Zhongyuan town.

Four cotton has the advantages of staff quality and management technology advantages, so long as we have modern equipment, we have great confidence in investing in Zhengzhou's textile industry.