中植集團宣布破產。2024年中國最大的爆雷!

2024-01-07

根據中植集團官網的公開資訊,其前身為1995年成立的黑龍江中植企業集團公司,初期主要經營造紙材料及房地產開發。1999年進行股份制改造,正式成立中植企業集團有限公司。自2001年起,中植集團進軍金融產業,同時積極拓展房地產開發業務。2002年開始大力發展信託業務,目前成為一家總部位於北京的資產管理公司。

近期中植集團宣布正式提出破產申請,同時在網路上發佈一份道歉文。若破產成功,投資人可能無法取回投資款項。這是中國迄今為止最大規模的金融風暴,牽涉的人數和資金之龐大超乎預期,可能導致15萬名富豪投資人和5000多家客戶蒙受損失,投資額範圍從300多萬人民幣到超過50億人民幣不等。

中植系旗下共有2929家投資和控股公司,其中包括15家上市公司。去年的公開資訊顯示,帳面上的淨資產只剩下2000億人民幣,主要由債權和股權投資構成,而非現金。這些債權存續時間相當長,但可回收的現金相當有限。

根據官方說法,扣除保證金和相關債務利息,公司負債約為4200億至4600億人民幣,已嚴重不足以償還債務。目前公司都是以有限責任形式登記,企業主跟大股東只需承擔有限責任。該公司負責人解值坤已於兩年前去世,即使是無限責任制度也無法向企業主進行索賠。

破產流程中的第一步是進行清算,若有多餘資產可能還錢,但由於目前已經嚴重的資不抵債,投資人想要取回資金的機率幾乎為零。

該公司本質上是透過高利息借貸進行股票交易,扣除支付給投資人的利息後,公司本身仍然獲利。不料,近年來股市和不動產表現不佳,導致中植系旗下的中融信託於2023年8月在房產投資中累積巨幅虧損,逾3500億人民幣的信託產品停止兌付,引起市場高度關注,也成為今年破產申請埋下伏筆。

該公司的道歉文如下:

2021年12月18日、中植集團實控人解直錕先生猝然離世。多位高管和核心人員先後脫崗或者離職,加之集團及旗下企業高度依附于原實控人決策,導致內部管理面臨失效狀態。集團在崗人員通過調整組織架構和機制,採取一系列自救措施,努力扭轉經營困境,但成效不及預期。集團相關產品陸續發生實質性違約,在此向各位投資者致以深深的歉意。

集團出險後聘請仲介機構進行全面清產核資,初步盡調發現:一是按照仲介機構模擬合併口徑測算集團總資產帳面金額約2000億元,由於集團資產集中於債權和股權投資,存續時間長,清收難度大,預計可回收金額低,流動性枯竭,資產減值情況嚴重;二是債務規模巨大,剔除保證金後,相關負債本息規模約為4200-4600億元。初步盡調顯示,集團已嚴重資不抵債,存在重大持續經營風險,短期內可用於兌付債務的資源遠低於整體債務規模。

由於集團資產體量龐大,產業分佈複雜、經營主體和項目主體眾多,大量代持企業資產、關聯融資及對外擔保事項還須進一步延伸審計進行核查確認,最終資產負債狀況可能還會根據核查情況予以調整,我們將及時向投資者通報相關資訊。同時,我們將理清歷史脈絡,對於可能存在的侵佔集團和投資者利益的行為零容忍,一經發現和證實,無論企業還是個人,一律依法追究相關責任並追回相關財產。

中植集團所有在崗人員對投資者產生損失深表歉意,並深刻且充分認識到整體風險化解工作的緊迫性、重要性、嚴肅性。在此,我們向廣大投資者鄭重承諾: 遵循市場化、法治化原則, 集團將嚴格遵守法律規定,積極配合並敦促仲介機構進一步深化清產核資工作,準確查清資產債務具體情況,將集團所有資產、權益,公平公正地用於投資者權益的保障。集團所有在崗人員將繼續堅守崗位、履職擔當,做好現有資產的有序運營,對於不良債權,應追盡追,應收盡收,保障投資者合法權益。

再次向所有投資者致以最誠摯的歉意!

According to public information on the official website of Zhongzhi Enterprise Group, the company's predecessor, Heilongjiang Zhongzhi Enterprise Group, was established in 1995, initially engaged in paper material operations and real estate development. In 1999, the company underwent a shareholding system transformation and officially became Zhongzhi Enterprise Group. Starting from 2001, the group entered the financial industry while actively expanding its real estate development business. In 2002, it began a vigorous development of trust business and has since become an asset management company headquartered in Beijing.

Recently, Zhongzhi Enterprise Group formally announced its bankruptcy application and simultaneously released an apology statement online. If the bankruptcy is successful, investors may be unable to recover their investment funds. This represents the largest financial storm in China to date, involving an unexpectedly large number of people and funds. It could lead to losses for 150,000 wealthy investors and over 5,000 clients, with investment amounts ranging from over 3 million RMB to more than 5 billion RMB.

Under the Zhongzhi Enterprise Group umbrella, there are a total of 2,929 investment and holding companies, including 15 listed companies. Last year's public information indicated that the book value of net assets was reduced to only 200 billion RMB, primarily composed of debt and equity investments rather than cash. These debts have a considerable duration, but the available cash for recovery is quite limited.

According to official statements, deducting margin and related debt interest, the company's debt is estimated to be between 420 billion and 460 billion RMB, severely insufficient to repay its debts. The current registration status of the companies is as limited liability entities, where business owners and major shareholders have limited liability. The company's head, Jie Zhi Kun, passed away two years ago, making it challenging to claim damages even under an unlimited liability system.

The first step in the bankruptcy process is liquidation, and if there are surplus assets, there might be a chance of repayment. However, due to the severe insolvency, the probability of investors recovering their funds is almost zero.

The company's core operation involves stock trading through high-interest loans. Despite generating profits by deducting interest payments to investors, recent poor performances in the stock market and real estate led to substantial losses in Zhongzhi Enterprise Group' trust business. In August 2023, the group's trust company, Zhongrong Trust, faced significant losses in real estate investments, exceeding 350 billion RMB, causing a halt in redemption for trust products. This event garnered considerable market attention and set the stage for the subsequent bankruptcy application this year.

The company's apology statement is as follows:

On December 18, 2021, Mr. Jie Zhikun, the actual controller of Zhongzhi Enterprise Group, passed away suddenly. Several executives and key personnel subsequently resigned or left their positions. Coupled with the group and its subsidiaries being highly dependent on the decisions of the original controller, the internal management faced a state of dysfunction. Despite the group's efforts to implement a series of self-rescue measures by adjusting organizational structures and mechanisms to reverse operational difficulties, the results fell short of expectations. Substantial defaults occurred in various products related to the group, and we deeply apologize to all investors.

After the group encountered difficulties, it engaged intermediaries to conduct a comprehensive asset and capital verification. Preliminary investigations found that, firstly, the simulated merger-calculated book value of the group's total assets is approximately 200 billion RMB. Due to the concentration of group assets in debt and equity investments, with long durations and low expected recoverable amounts, there is a severe liquidity crisis, and asset impairment is significant. Secondly, the scale of debt is enormous, with related liabilities excluding margin around 4200-4600 billion RMB. Preliminary investigations show that the group is severely insolvent, facing significant ongoing operational risks, and short-term resources available for debt repayment are far below the overall debt scale.

Due to the enormous scale of the group's assets, the complex distribution of industries, and the multitude of operating and project entities, further audit verification is required for a large number of equity-holding corporate assets, related financing, and external guarantee matters. The final asset and liability situation may be adjusted based on the audit findings, and we will promptly inform investors of relevant information. Simultaneously, we will clarify the historical context, adopt a zero-tolerance policy for any acts that may have encroached upon the interests of the group and investors, and once discovered and confirmed, whether by a company or an individual, relevant responsibilities will be pursued in accordance with the law, and related properties will be recovered.

All in-service personnel of Zhongzhi Enterprise Group express sincere apologies for the losses suffered by investors. We deeply and fully recognize the urgency, importance, and seriousness of the overall risk resolution work. We solemnly pledge to the vast investors that, following market-oriented and rule-of-law principles, the group will strictly comply with legal provisions. We will actively cooperate and urge intermediary institutions to further deepen the work of asset and capital verification, accurately clarify the specific situation of assets and liabilities, and use all group assets and equities fairly and justly to safeguard investor rights. All in-service personnel of the group will continue to stand firm in their positions, fulfill their duties, ensure the orderly operation of existing assets, vigorously pursue and recover non-performing assets, and safeguard the legitimate rights and interests of investors.

Once again, we extend our most sincere apologies to all investors!