Li Bin, the new chairman of Ziguang group: first, solve the debt and capital problems and reshape the credit reputation
Time:2022-07-15
Views:1975
Source: surging news
After the completion of equity delivery of Ziguang group, Li Bin, the new chairman of Ziguang group, sent a "letter to all employees of Ziguang group" on July 13. Li Bin said in the letter that first of all, we should solve the current debt and capital problems and reshape the company‘s credit and reputation with a healthy balance sheet and capital management system. He also said that Ziguang group would set up three new headquarters to support the efficient development of industrial companies.
In the afternoon of July 11, Ziguang group and its subordinate companies announced that Ziguang group had completed the equity change of the company on July 11 in accordance with relevant laws and regulations and the restructuring plan, and the holding platform Beijing zhiguangxin Holding Co., Ltd. (hereinafter referred to as "zhiguangxin holding") established by the strategic investor "Zhilu construction and broadcasting Consortium" undertook 100% of the equity of Ziguang group. The board of directors of the company elected Li Bin as the chairman of the company.
Deal with debt problems and reshape the company‘s credit and reputation
Ziguang group has expanded significantly in recent years, resulting in a high debt ratio. Finally, the capital chain was broken and creditors applied for bankruptcy reorganization.
In his letter, Li Bin affirmed that Ziguang group has made a "better" layout in the field of chips and cloud networks over the years, and occupies a leading position in the industry. But he also pointed out that in recent years, the debt ratio of Ziguang group has been high, the capital chain has been broken, and the company‘s cash flow can not even cover the loan interest, let alone repay the principal. This led to the loss of confidence of all creditors in the development of Ziguang group, resulting in the company having to go into the judicial process of bankruptcy and reorganization. It has a very negative impact on the operation, financing, R & D and foreign cooperation of each subsidiary.
Li Bin said that we should first solve the company‘s current debt and capital problems, rebuild the company‘s credit and reputation with a healthy balance sheet and capital management system, restore the confidence of investors and creditors, and restore the equity and debt financing capacity of entity companies.
He revealed that he would first use a large amount of equity capital contributions to repay creditors, significantly reduce the debt ratio, go light, and create a good business environment for all subsidiaries. "If this problem is not solved, the subordinate enterprises of the group will continue to bear a heavy burden, affecting the future survival and stability, reputation and morale, and the group and its subsidiaries will not be able to further sustain and develop healthily."
In the future, R & D will focus on core IP, design, process and tool software
How will new purple light group go next?
Li Bin said that after the company resumes normal operation, it needs to carefully study the long-term development strategy, core technology and core competitiveness of the group. This requires in-depth analysis of the current situation and the competitive environment at home and abroad with the existing management team, and planning before moving. "In the future, we will fully listen to the opinions and suggestions of the leading groups of the group and its subsidiaries, formulate short, medium and long-term business and strategic plans in combination with the existing products, technologies and market conditions, supplement resources as needed, and provide corresponding strength support and strategic support."
However, Li Bin also pointed out that the scientific and technological R & D investment of new Ziguang group is mainly centered on "the layout of core IP, design, process, tool software and other aspects", which is the top priority of future development.
He revealed that the group company will discuss with various industrial companies to set up special classes in the related structure, materials, processes and other directions to help connect with leading enterprises or scientific research institutions at home and abroad and cooperate to jointly tackle key problems. By concentrating the power of the whole group for precise investment, we can form a joint force to help industrial companies occupy the highland of core technology.
Similarly, the plight of Ziguang group in recent years has led to the loss of a large number of technical talents. In this regard, Li Bin pointed out that the recruitment and use of talents must be all over the world, and can not engage in mountaineering. We should share the operating income with the management team and core talents of the enterprise, and give them sufficient authorization, sufficient resources and effective incentive mechanism.
Three new headquarters drive coordinated development
In recent years, Ziguang group has made layout around chips and cloud network. It has many industrial companies and covers a wide range of fields.
However, the New Oriental believes that Ziguang group is fighting on its own, lacking resource sharing and management coordination. In addition, there are obvious weaknesses in the layout of the company‘s industrial chain in some key mitigation.
Li Bin said that the existing businesses of Zhilu Jianguang holding company and Ziguang group are highly complementary, which can make up for some weaknesses in the industrial chain for the group. In terms of market customers, we can also help some enterprises of the group enter the automotive electronics, industrial control and other fields with low market share by connecting the marketing system and taking advantage of the existing resource advantages of shareholders, and further consolidate and strengthen the dominant position of the group in the fields of consumer electronics, mobile communications and the Internet of things.
To this end, Ziguang group will set up three new headquarters to support the efficient development of industrial companies, namely business headquarters, enabling headquarters and management headquarters.
Li Bin mentioned in the letter that the business headquarters will divide the group‘s core business into several sectors to help the group‘s physical enterprises achieve steady growth from the perspectives of development strategy, investment and financing, industrial collaboration and so on. The enabling headquarters will set up three centers for capacity construction, scientific research and innovation, and international cooperation to integrate resources and intensify unified investment in the construction of industrial chains urgently needed by subsidiaries but without sufficient funds and talents, as well as the development of some cutting-edge technologies. The management headquarters will provide financial, human, legal, information and other middle and back office service support for the industrial companies controlled by the group.
For the future development strategy of Ziguang group, Li Bin put forward five directions and principles to maintain foresight, openness and fairness, and adhere to marketization and promote internationalization.
He also reminded that today‘s Ziguang group has a large scale, and its business development and management level are uneven. Coupled with the heavy pressure of capital problems and debt, it is also facing great competition and challenges. If combined with a number of large and medium-sized enterprises controlled by Zhilu Jianguang, the shareholder, the scale will be larger, the industrial coverage will be wider, the management will be more complex, and it will be more important for the industrial chain. "The larger the enterprises and organizations, the greater the responsibilities they bear. The more extensive cooperation they should seek, the more modest they should be."
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