Excess capacity businesses afraid of breaking loan financial fraud: lost 1 billion earn 50 million | | zombies _ overcapacity news

Many coal enterprises in Shanxi positive excess labor problem

Economic reference reported reporter recently in East Midwest more than 10 more than provinces research understand to, current steel, and coal, and colored, industry capacity excess contradictions further increased, some enterprise completely became by borrowing maintained survival of "zombie enterprise", and part difficult enterprise "Judah hold pipa half cover surface", unwilling to reported real situation, even deliberately hide financial status, behind hidden of risk not ignored. The industry believes that promoting the supply side structural reform, it is imperative to overcome some serious excess capacity, "backing + reforms" effectively release risk, through the "arms for survival" achieve new energy conversion.

　　Overcapacity led to "zombie companies"

Reporters found that since last year, China's coal and steel industry overcapacity further raising, some companies become borrow to survive "zombie companies".

Coal industry overcapacity-Cliff price declines, an industry-wide loss. Reporter in coal in Shanxi province, the research found, starting in July 2014, Shanxi coal industry losses. According to statistics, the first three quarters of last year, Shanxi coal enterprises ' loss of more than 7 billion yuan.

Information from the iron and steel industry association show in Shanxi province, Shanxi most iron and steel enterprises operating at a loss and serious loss, 7 have been halted over more than 20 key enterprises and other enterprises in a limited production run of "hemorrhagic" production, high debt ratio in some enterprises, losses in consecutive years.

Besides coal, iron and steel, nonferrous metals and other heavy chemical industry, shipbuilding overcapacity in such areas have yet to be fully digested. Since 2015, there have been a number of shipyards bankrupt. Nantong Cosco ship Zhuang Jianjun, Deputy General Manager, told reporters, shipbuilding enterprises closed down a lot now, especially private shipyards, shipbuilding overcapacity problem is very prominent, is expected to be about 40% of shipping enterprises will be eliminated.

More problems of overcapacity, a scarcity of funds. Reporters found that excess industry capacity capital chain tension-affected, financial costs rose sharply amid concerns that the Bank cut loan and take out loans, many business enterprises "still hiding half her face from us behind her guitar" and were unwilling to report the real situation, or even deliberately hide the financial situation, forming the "uncertainty" risk.

In order to prevent the Bank cut loan capital chain rupture, in the coal and steel industries and the widespread accounting irregularities. Honorary President of the National Federation of Chambers of Commerce in metallurgical enterprises originally said Zhao Xizi, 70 State-owned iron and steel enterprises, only about 10 are slightly profitable, all is lost, many iron and steel enterprises of financial statements is "profit". "Such as in a steel company reports show a profit of 2 billion yuan, we found that the money was obtained through selling assets, business income that ' do ' into ' profit '. ”

"Coal enterprises in 35 years of hardship, many companies may but this year. "One large coal company official told reporters on condition of anonymity," corporate report last year showed a profit of 50 million Yuan, is actually doing the ' books ', actually lost more than 1 billion yuan, in order to prevent bank loans, capital account to savings before. ”

A large steel and iron enterprises in central China province said that corporate loans accounted for more than one year before the 60%, now accounts for only 5% to 6%, and interest rates floating between 20% and 30%. "Enterprise asset liability rate is now over 80%, mainly rely on bank loans to stay afloat, if not made by a bank loan, the company capital chain rupture may occur. ”

"Many companies do not want to be reported, it is estimated that ' zombies ' actual number could be several times that escalation of the number of these enterprises are concentrated in sectors such as coal, nonferrous metals. "Some heads of prefecture-level cities by industry Management Bureau said.

According to Zhao Xizi introduction, current bank liabilities of 1.3 trillion yuan in China's iron and steel industry, there is 2 trillion yuan of non-bank debt, capacity in the steel industry in the process of debt risk of these liabilities are easily formed. "In particular, private lending, debt is unknown, triangular, polygonal bond with one, the risks of such uncertainty and needs attention. ”

　　"Stiff but not out" for not only to despair

Reporters found that coal and steel overcapacity in the industry, there are large number of loss-making companies, "zombies", these enterprises in order to live at the vicious competition, sale, fall into the "production more and more losses," a vicious cycle.

"As long as the production of steel can still sell out, but the price is too low, made at a loss." A large iron and steel group, officials told reporters that in 2015, China's steel exports reached 110 million tons, an increase of 20% over, indicating that demand for steel remains high.

Some coal provinces and even "more losses more overdraft" strange phenomena, some business owners reflects whether or not mining, mine maintenance costs are "rigid", in order to "dilute" the cost to maintain cash flow, some companies mining as much as possible. High levels of large enterprises, modernization of enterprises, overdraft situation is more serious, practical capacity is several times more than the designed capacity.

This anomalous overdraft not only further exacerbated the downward pressure in coal market, also resulted in a waste of resources.

From the perspective of reporter investigation found that "zombie companies" are unwilling to quit, mostly haven't been cornered, there is a certain market space, funding has not broken, some State-owned enterprises can obtain loans from the banks, some enterprise arrears owed tax materials, dead and undead. In addition, banks, employment pressures, fiscal debt risk factors such as restricted "zombie companies" exit, both enterprises, and local governments, banks, want to carry for a period of time, "didn't want to be the first to die."

The respondents generally felt that only decisive disposal "zombie companies" before the normal development of the industries with surplus production capacity, but in dealing with "zombie companies" in the process, you must clarify the boundaries of Government and market. The Government should resolve the "market failure" class contradictions of excess, a good grasp of timing nodes, avoid excessive administrative intervention, "thankless".

Industrial Policy Division at the Ministry officials believe that overcapacity is a normal market economy, but the serious overcapacity in some sectors, the market alone has been unable to resolve, so analysis of surplus is the market in which industries, trades in which non-market factors in the formation of excess capacity, "market failure" such excess, the Government introduced measures to resolve.

　　"Backing + reforms" effectively release risk

Experts interviewed believe that over-capacity in developed countries there is precedent for disposal, combine their actual requirements, explore the capacity of Chinese characteristic path, properly resolve contradictions of excess capacity.

First, improve the "backing" policy guidance "zombie companies" valid exit. Reporters found that different types of "zombie companies" risk on exit points vary, lay-offs from State enterprises concentrated in the social risks of unemployment, while private enterprises more financial risk capital chain rupture. These risk characteristics, all levels of Government need to develop well in advance of "backing" plan. "For example in terms of debt settlement, Government priorities through legal procedures ensure that the interests of creditors less than 300,000 yuan, the social risks of companies you want to minimize. "Hebei metallurgy industry association Song Jijun said.

Second, sound policy mix established operational rules. Cadres are reflected, some files due to lack of practice to resolve the overcapacity, local implementation is ineffective. For example countries encouraged the merger and reorganization of enterprises, but in the absence of approval, tax, land transfer and other clear policy, brought great difficulties to grass-roots operation. "Mergers and acquisitions are an important way to resolve the overcapacity, long processing time and transaction costs are high, we feel little enthusiasm of enterprises. "Zhejiang province by the letters Department one cadre said. Some business leaders also expressed hope in terms of taxation, land, capital and other introduced "gold content" high policy.

Once again, seize the "window period" to promote reform, cracking the overcapacity problem from the source. From the perspective of research, current excess capacity more prominent contradiction in State-owned enterprises. Some State-owned enterprise officials reflect, State-owned enterprises because of their physical mechanism causes, benefits than private enterprises in General, the current economic downturn, enterprises difficult to promote reform of State-owned enterprises "window period", hope that the Government will accelerate the reform of State-owned enterprises, institutional mechanism solution to overcapacity problem.

Responsible editor: Sun Ailin SN146

Article keywords:
Overcapacity, zombies

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产能过剩企业怕断贷财务造假:亏10亿称赚5千万|产能过剩|僵尸企业_新闻资讯

山西诸多煤企正面临产能过剩问题

　　《经济参考报》记者近期在东中西部10余省份调研了解到，当前钢铁、煤炭、有色等行业产能过剩矛盾进一步加剧，一些企业完全沦为靠借债维持生存的“僵尸企 业”，而部分困难企业“犹抱琵琶半遮面”，不愿上报真实情况，甚至刻意隐瞒财务状况，背后隐藏的风险不容忽视。业内认为，推进供给侧结构性改革，当务之急 是化解一些行业严重的过剩产能，以“托底+改革”有效释放风险，通过“断臂求生”实现新旧动能转换。

　　产能过剩加剧催生“僵尸企业”

　　记者调研发现，去年以来，我国煤炭、钢铁等行业产能过剩矛盾进一步加剧，一些企业完全沦为靠借债维持生存的“僵尸企业”。

　　产能严重过剩的煤炭行业遭遇断崖式的价格下跌后，出现了全行业亏损。记者在煤炭大省山西调研了解到，从2014年7月起，山西煤炭行业出现连续亏损。根据有关统计，去年前三季度，山西煤炭企业亏损70多亿元。

　　山西省钢铁行业协会提供的信息显示，当前山西绝大多数钢铁企业处于亏损和严重亏损状态，20多家重点企业已有7家全面停产，其余企业大多处于限产运行的“失血性”生产之中，部分企业负债率过高，连续多年亏损。

　　除煤炭、钢铁、有色等重化工行业外，造船等领域的产能过剩也还没有完全消化。2015年以来，我国已有多家造船企业破产。南通中远船务有限公司副总经理庄 建军对记者表示，现在船企倒闭得很多，尤其是民营船厂，造船能力过剩的问题十分突出，预计将有约40%的船企会被淘汰。

　　越是产能过剩的困难行业，资金越成为稀缺资源。记者调研发现，产能严重过剩行业受资金链紧张影响，财务成本大幅上升，由于担心银行断贷、抽贷，不少经营困难企业“犹抱琵琶半遮面”，不愿上报真实情况，甚至刻意隐瞒财务状况，形成“不确定性”风险。

　　为了防止银行断贷造成资金链断裂，在煤炭、钢铁等行业，财务作假的现象普遍存在。全国工商联冶金企业商会原名誉会长赵喜子说，70家国有钢铁企业中，仅有 10家左右是略有盈利，其余全部是亏损，可不少钢铁企业的财务报表显示的却是“盈利”。“比如一家钢铁企业报表显示盈利20亿元，结果我们调查发现，这些 钱是通过卖资产得来的，企业把这笔收入‘做’成了‘盈利’。”

　　“煤炭企业还有三五年的困难日子，很多企业可能挺不过今年。”一位不愿透露姓名的大型煤炭企业负责人告诉记者，“企业去年报表上显示盈利5000万元，其实是做的‘假账’，实际上亏损10亿元以上，为了防止银行抽贷，把以前节余的资金做到账里去了。”

　　中部某省一家大型钢铁企业负责人说，以前企业一年期以上贷款占60%，现在只占5%至6%，而且利率还上浮了20%至30%。“现在企业资产负债率超过80%，主要靠银行贷款维持运转，如果有一笔银行贷款发不下来，公司就可能出现资金链断裂。”

　　“很多企业不愿意被上报，估计‘僵尸企业’的实际数量可能数倍于上报的数量，这些企业主要集中在煤炭、有色等行业。”某地级市经信委行业管理科负责人介绍称。

　　据赵喜子介绍，当前我国钢铁行业银行负债1.3万亿元，还有2万亿元非银行负债，在钢铁行业去产能过程中，这些负债极易形成债务风险。“尤其是民间借贷，债务信息不明，三角债、多角债充斥其中，对于这类不确定的风险，需引起高度关注。”

　　“僵而不退”只因未到绝境处

　　记者调研发现，在煤炭、钢铁等产能严重过剩行业，存在大量亏损企业、“僵尸企业”，这些企业为了生存不惜恶性竞争，降价销售，陷入“生产越多、亏损越多”的恶性循环。

　　“钢材只要生产出来还是能卖得出去，只是价格太低，亏本赚吆喝”。一大型钢铁集团相关负责人告诉记者，2015年我国钢材出口达到1.1亿吨以上，同比增长20%以上，这说明钢材的市场需求依然很大。

　　一些煤炭大省甚至存在“越亏损越超采”的怪现象，一些企业负责人反映，不论开采与否，矿井的维护成本都是“刚性”的，为了“摊薄”这些成本，维持现金流，一些企业就尽可能多开采。越是大企业、现代化水平高的企业，超采情况越严重，有的煤矿实际产能比设计产能多出好几倍。

　　这种反常超采，不仅进一步加剧了煤炭市场下行压力，还导致资源浪费。

　　从记者调研了解到的情况看，“僵尸企业”之所以不愿退出，主要是还没被逼到绝境，产品还有一定市场空间，资金链还没有断裂，有的国有企业甚至还能从银行获 得贷款，有的企业欠薪欠税欠材料费，僵而不死。此外，银行债务风险、就业压力、财政税收等因素，都制约着“僵尸企业”的退出，无论是企业本身，还是地方政 府、银行，都想再扛一段时间，“不愿意自己先死”。

　　受访人士普遍认为，只有果断处置“僵尸企业”，才能让产能过剩行业正常发展，但在处置“僵尸企业”过程中，必须厘清政府与市场的界限。政府应着力化解“市场失灵”类过剩矛盾，把握好时机节点，避免行政过度干预、“出力不讨好”。

　　工信部产业政策司相关负责人认为，产能过剩是市场经济的常态，但当前我国一些行业出现的严重产能过剩，单靠市场已经无力化解，因此要分析哪些行业过剩是市场形成的，哪些行业的产能过剩是非市场因素形成的，对“市场失灵”类过剩，政府要出台措施着力化解。

　　以“托底+改革”有效释放风险

　　受访专家认为，产能过剩问题在发达国家已有处置先例，我国需结合自身实际，探索中国特色的去产能路径，妥善化解产能过剩矛盾。

　　首先，完善“托底”政策，引导“僵尸企业”有效退出。记者调研发现，不同类型“僵尸企业”退出时的风险点各有不同，国有企业集中在职工下岗失业带来的社会 风险，而民营企业更多是资金链断裂带来的金融风险。针对这些风险特点，各级政府需提前制定好“托底”预案。“比如在债务清算方面，政府要通过法律程序优先 确保30万元以下的债权人利益，将企业退出带来的社会风险要尽量降低。”河北省冶金行业协会副会长宋继军说。

　　其次，健全配套政策，制定可操作性强的实施细则。基层干部反映，一些化解产能过剩的文件由于缺乏操作细则，在地方落实效果欠佳。例如国家虽然鼓励企业兼并 重组，但在审批、税收、土地转让等方面都缺乏明确政策，给基层操作带来很大困难。“兼并重组是化解产能过剩的重要途径，可审批时间长、交易成本高，我们感 觉企业没什么积极性。”浙江省经信部门一位干部说。一些企业负责人也表示，希望在税收、土地、资金等方面出台“含金量”高的政策。

　　再次，抓住“窗口期”推进改革，从源头上破解产能过剩症结。从调研情况看，当前产能过剩矛盾在国有企业表现得更为突出。一些国企负责人反映，国有企业因其 体质机制原因，效益普遍不如民营企业，当前经济下行、企业困难正是推进国企改革的“窗口期”，希望政府能够加速国企改革，从体制机制上破解产能过剩难题。

责任编辑：孙爱林 SN146

文章关键词：
产能过剩 僵尸企业

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