goodgamepokerstudio|*ST金科重整草案已基本形成 董事长、总裁月薪降至3万元
Log in to Sina Finance APP to search [Xinpi] to see more evaluation levels.
The summary of the survey disclosed today (May 5) showsGoodgamepokerstudio* ST Jinke (000656) held a performance presentation on April 30th. As the first national housing company in China to enter into restructuring, * ST Jinke focused on the progress of restructuring at the meeting. At present, the restructuring draft has been basically formed, and the company is conducting in-depth communication with potential war investors. At the operational level, * ST Jinke proposes to achieve no less than 7% by 2024.GoodgamepokerstudioAt the same time, Chairman Zhou Da and President Yang Chengjun of the company took the initiative to reduce their monthly salary to 30,000 yuan.
As once the national benchmark housing company of TOP20, * ST Jinke signed a contract to sell more than 200 billion yuan in 2020, but the sales of the company and its investment companies were only about 26.4 billion yuan in 2023. Sluggish sales have led to the deterioration of the balance sheet. By the end of 2023, * ST Jinke had total assets of 224.219 billion yuan, liabilities of 203.591 billion yuan, and asset-liability ratio of 90.8%. The company reported that at the end of the period, the book balance of monetary funds was 7.038 billion yuan, the total principal of interest-bearing liabilities was 72.65 billion yuan, and the principal of interest-bearing debts overdue was 25.31 billion yuan. Some operating payables were also overdue.
With debt reduction as the goal, in August 2023, * ST Jinke officially announced its intention to apply to the court for restructuring and pre-restructuring, aiming to achieve Nirvana rebirth through judicial restructuring and the introduction of war investment procedures to resolve liquidity risks. On April 22nd this year, * ST Jinke's application for restructuring was formally accepted by the court.
* ST Jinke's restructuring has attracted so much attention that Standard & Poor's, the rating agency, believes that this restructuring is not only a way for Jinke to save itself, but also a restructuring template for similar companies out of risk. S & P believes that if the restructuring is successful, it will lead to a comprehensive restructuring plan, including debt reduction and the injection of new equity. After restructuring, the enterprise may repair its balance sheet and be able to operate normally. S & P expects that court restructuring should not take long because the ST Jinke has signed a framework agreement with strategic investors.
* ST Jinke revealed at the meeting that based on the audit evaluation data and with the support of intermediaries, Jinke restructuring plan (draft) has been basically formed. The overall idea of the plan is "priority restructuring of two platform companies, normal operation of each project company, agreement reorganization of one batch, judicial reorganization of one batch, divestiture and disposal of one batch".
At present, * ST Jinke is continuing to conduct in-depth communication with potential war investors. With regard to Great Wall Guofu Real Estate, which has previously reached a strategic investment framework agreement, * ST Jinke said that the two sides have established a good work coordination mechanism to continuously, comprehensively, systematically and solidly promote all kinds of work. Great Wall Guofu Real Estate Co., Ltd. is an AMC institution Great Wall Asset Management Co., Ltd., with real estate development and operation as the main investment and operation platform.
In addition, * ST Jinke also revealed that "in the process of promoting restructuring, a number of strong and resource-rich industrial investors have expressed their intention to participate in the restructuring to the company, and the relevant parties are in the process of active contact." Under the premise of legal compliance, * ST Jinke will explain to professional investment institutions the logic, value and path of corporate restructuring, introduce more medium-and long-term investors for the company, and jointly maintain the dominant position of listed companies.
* ST Jinke said that the company will cooperate with the people's court and managers to carry out various formal restructuring work in an orderly manner. Including organizing the declaration of creditor's rights and carrying out creditor communication, recruiting strategic investors and signing formal agreements, perfecting and optimizing the draft restructuring plan on the basis of communication with creditors and strategic investors, promoting Jinke shares and Chongqing Jinke judicial restructuring and project company risk resolution cooperation, promoting creditor voting, and so on.
"the company will also fulfill its obligations of information disclosure in a timely manner in accordance with the requirements of the regulatory rules, strive to complete all restructuring work within the specified time frame, maintain local social and financial stability, and ensure that the goal of the 'Baojiao Building' is achieved as scheduled. Restore the virtuous circle of the company's production and operation as soon as possible, improve the company's investment value, and protect the legitimate rights and interests of investors." * ST Jinke said at the results meeting.
By the end of 2023, * ST Jinke has 276 projects under construction, covering an area of about 30.69 million square meters. * ST Jinke plans to deliver an area of not less than 12 million square meters and no less than 75000 sets in 2024, with a delivery rate of more than 92%, of which the Baojiao building in Chongqing will be fully completed.
"with the strong support and help of the Chongqing Municipal Housing and Construction Commission and the party and government at all levels, the risk of Jinke National Baojiao Building can be controlled as a whole." * ST Jinke stressed at the performance meeting. * ST Jinke also said that in order to speed up the restructuring process of the company, Chairman Zhou Da and President Yang Chengjun of the company volunteered to reduce their salary voluntarily and voluntarily receive 30,000 yuan before monthly salary tax in the next 12 months from the date of disclosure of the company's 2023 annual report. The above monthly salary includes basic salary + performance salary + post salary + overtime pay.
It is reported that after the * ST Jinke reorganization application was formally accepted by the court, the Chongqing municipal government held a "Special Promotion meeting for Judicial restructuring of Jinke shares" on April 27, which was attended by representatives of the municipal government, the Municipal High Court, the Municipal Party Committee Finance Office, the Municipal Housing and Construction Commission, the Liangjiang New District Management Committee, Great Wall assets and Jinke shares. At the meeting, the municipal party committee and municipal government demanded that special work classes should do their best and do what they can, further strengthen their support to Jinke, fully support Jinke's successful restructuring, and turn Jinke's restructuring into an example of industry risk resolution.