The hottest tire city 14 enterprises went bankrupt

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14 enterprises in the "tire city" went bankrupt at one go: the annual output of 152million tires, accounting for 1/4 of the country

there is a saying spread in the rubber tire industry, "the world tires come out of China, the Chinese tires look at Shandong, and the Shandong tires are in Guangrao." Guangrao is a county with a population of only 500000 in the Yellow River Delta. Becoming the "tire capital" is also a great economic miracle. As early as 2013, Guangrao County has become the first batch of national export tire quality and safety demonstration zone, and the only national tire export base recognized by authoritative institutions in China. The production capacity of automobile wheels has reached 25.5 million sets, making it the largest wheel production base in China. In 2016, there were 51 tire enterprises above Designated Size in Guangrao County, 7 of the world's top 75 tire enterprises, and the output of radial tires reached 152million, accounting for one half and one quarter of Shandong Province and the country respectively. The total output value of the tire industry is 119.93 billion yuan, the main business income is 118.59 billion yuan, and the export is 14.24 billion yuan, accounting for one third of the export volume of similar products in Shandong Province. The whole industry has 7 famous trademarks in China, 23 famous trademarks in Shandong Province and 27 famous brand products in Shandong. Including Xingyuan group, Jinyu tire, Yongtai group and other enterprises, of which Xingyuan group and Jinyu tire are among the top 100 global tires. According to the 2016 ranking of Chinese tire enterprises released by China Rubber Industry Association, four enterprises in Guangrao County were shortlisted in the top 10. Shandong Hengfeng rubber and Plastic Co., Ltd., Xingyuan Tire Group Co., Ltd., Sailun Jinyu Group Co., Ltd. and Shengtai Group Co., Ltd. ranked third, fifth, sixth and ninth respectively. However, in recent years, many Guangrao tire enterprises have gone bankrupt and reorganized, especially many well-known tire enterprises with considerable scale have not been spared. What happened behind bankruptcy? How does "tire capital of the world" open a new round of integration

1. Since last year, many well-known tire enterprises have begun to recruit strategic investors, and many groups have declared bankruptcy. Since July 2018, many well-known tire enterprises in Guangrao County, Dongying City, Shandong Province have begun to recruit strategic investors, and many groups have declared bankruptcy. In July, Dongying City Court and Guangrao County Court accepted a number of bankruptcy and reorganization cases of tire enterprises. On July 2, 2018, Guangrao County People's court ruled that 14 companies, including Shandong Dawang Jintai Group Co., Ltd., entered bankruptcy reorganization proceedings. Since 2015, many tire enterprises such as deruibao Tire Co., Ltd., Shandong Hengyu Rubber Co., Ltd., Shandong aogory Tire Co., Ltd., Shandong Dawang Jintai Group Co., Ltd. have experienced bankruptcy

in 2018, Shandong Yongtai Group Co., Ltd., once the 32nd largest tire enterprise in the world, officially declared bankruptcy and liquidation due to the rupture of its capital chain. It is reported that Shandong Yongtai, founded in August 1995, is a large joint-stock enterprise with the production of all steel radial truck tires and semi steel radial tires as the leading industry, integrating cogeneration, new energy, scientific research, industry and trade. It is reported that in February 2017, there were obvious problems in the company's capital chain, and some suppliers and creditors came to ask for arrears. In September of that year, youxiaoming, President of Shandong Yongtai, was arrested for defrauding Dongying bank Shengli branch of a loan of 50million yuan

about a few kilometers away from Shandong Yongtai production workshop, Hengyu is also in bankruptcy liquidation. On June 25, 2018, Hengyu rubber officially filed an application for bankruptcy reorganization with the people's Court of Guangrao County, Shandong Province. According to the announcement, as of May 2018, Hengyu rubber had total assets of 1.997 billion and liabilities of 2.425 billion, and was unable to pay off its due debts on schedule, and it was obviously lack of debt repayment ability. On July 2, Guangrao County People's fashionable, extroverted and distinctive court ruled to accept the bankruptcy reorganization application submitted by Hengyu rubber, and appointed Shandong zhengzhiguang law firm as the administrator to be responsible for the bankruptcy reorganization of Hengyu rubber. It is reported that in July last year, tianjiali, chairman of Hengyu, was criminally detained by Guangrao County Public Security Bureau on suspicion of illegally absorbing public deposits. People familiar with the matter said that Hengyu only attracted hundreds of millions of yuan of funds raised by ordinary people. In fact, the bankruptcy of Shandong Yongtai is only a microcosm of many tire enterprises in Dawang town. In February, 2015, deruibao, which was one of the top 75 in the world in 2014, announced bankruptcy, with a debt of 4.7 billion yuan. According to media reports, prior to bankruptcy, deribo had established a credit "Internet Mutual Insurance" relationship with 12 enterprises, and its bankruptcy dragged these 12 enterprises into trouble. In November 2016, some assets of deruibao and its affiliated company Shandong Haolong Rubber Tire Co., Ltd. were successfully auctioned, and Shandong Hengfeng rubber and Plastic Co., Ltd. won the assets with 891 million yuan. In January 2017, two tire factories in Dongying, Shengtai tire and Xingyuan tire, merged. It is reported that there are many capital exchanges between the two enterprises, such as guarantees. It is reported that after Shengtai group's capital problems, the all steel tire project was shut down, and Xingyuan tire was also affected. On August 10, 2018, Shandong Dongying intermediate people's Court issued an announcement on the bankruptcy and reorganization of 16 companies under the ogirrey group, including Shandong ogirrey Tire Co., Ltd., ogirrey wheel group Co., Ltd. and Shandong ogirrey International Trade Co., Ltd., and began to introduce investors for asset reorganization through public recruitment. The bankruptcy of these enterprises is mostly "collapse", often involving a group, multiple industries and more than a dozen companies. Take ogirre as an example. The industries related to tyres only involve the trade of all steel radial tyres, automobile wheels and tyres. Jintai group's project involves 14 companies, including tire capsule production and sales; Thermal cracking; Tire equipment casting, etc. According to the data, as of April 2016, hundreds of rubber and tire enterprises across the country had been included in the national list of dishonest Executees/enterprises by the Supreme People's court due to unpaid loans, contract breaches, labor disputes and wage arrears, among which more than 30 enterprises were listed in Shandong alone

2. The mystery of Bankruptcy: the transformation of old and new kinetic energy, environmental protection, and internet mutual protection

as we all know, at present, the domestic and foreign tire market demand is insufficient, structural overcapacity, tire exports, environmental protection and other issues are prominent. At the same time, this is also a pain in the process of the transformation of old and new kinetic energy, and the price of the excessive barbaric development of the tire industry. In particular, the decade from 2001 to 2010 is a decade of rapid and savage development of the tire industry. "Expanding production, seeking scale, and resisting risks" has become the goal of enterprises. Relying on bank blood transfusion, enterprises have cultivated the competitive advantage of being rich and powerful, and even many enterprises have embarked on a three-dimensional business path of diversified development. However, with overcapacity and fierce homogenization competition, the original advantages have become weak, and the price war makes enterprises unable to make ends meet. After the blood transfusion function of the bank was lost, the hematopoietic function of the real enterprise was not available, leading to the interruption of the cash flow of the enterprise and the road of no return. At the same time, the increase in bankruptcy of tire enterprises is also related to internet mutual insurance. Dahai group and Jinmao group are "brothers and sisters" of internet mutual insurance. Shandong Dahai Group Co., Ltd. also entered the bankruptcy reorganization procedure. Although Dahai group does not produce rubber tires, it is also located in Guangrao, and its bankruptcy is largely dragged down by guarantees. The 2018 semi annual report of Dahai group corporate bonds shows that as of the end of the first half of the year, the balance of the company's external guarantees was 2.047 billion yuan; The increase and decrease of external guarantees of the company during the reporting period was 626million yuan; The total amount of outstanding and outstanding external guarantees is 2.672 billion yuan; The total amount of outstanding and outstanding external guarantees exceeds 30% of the net assets at the end of the reporting period. According to insiders, with the support of the government, the risk of the Guarantee Circle accumulated in Dongying City in the past is gradually becoming smaller and even resolved. The reorganization and follow-up work of Dahai group will also help to thoroughly solve the regional financial risks it faces. Dahai group is facing bankruptcy reorganization rather than bankruptcy liquidation. The enterprise will continue to operate in order to realize debt liquidation and enterprise adjustment. At present, the production and operation of the subordinate factories of the group are normal, and the wages of employees are paid normally

3. After the great integration, the city of tires will break through in the cold winter. In recent years, Guangrao County hopes to continuously improve its independent research and development ability and innovation ability, so as to accelerate industrial development by promoting adjustment with investment and optimization with increment, focusing on industrial clusters and high-end industries, and creating a new batch of high-tech, high-efficiency, low energy consumption and low pollution high-efficiency car radial tires, truck radial tires and engineering radial tires, Enhance the competitiveness and influence of the two major industries of rubber tires and auto parts in the international market. The occurrence of a series of events may mean that the "tire capital of the world" has started a new round of integration. According to an industry insider, after this round of integration, the local tire industry in Guangrao may undergo earth shaking changes. At present, the tire industry in Guangrao County has already achieved "interconnection", hoping to take this opportunity to transform and upgrade. With the help of Internet, Shandong Haoyu Rubber Co., Ltd. has built the first professional rubber tire e-commerce platform in China - tire king. Then, Guangfeng rubber tire trading center, the first spot trading market of rubber tire commodities in Shandong Province, operated smoothly and became an innovative e-commerce trading platform integrating "high-end financial derivatives trading of interconnected bulk raw materials and finished products". According to the 2017 annual report of Guangrao County on government information disclosure, Guangrao County plans to exceed 100billion yuan in GDP by 2021; Build an internationally renowned "tire city". Rubber tire industry is one of the leading industries in Guangrao County. After years of development, Guangrao County has formed a relatively complete industrial system. Since 2014, Guangrao County has carried out the establishment of a national famous brand demonstration area for the rubber tire industry, driving the development of the rubber tire industry in the county to an intensive and standardized advanced management mode

on May 30 last year, Guangrao County Government made public the CPPCC proposal of "suggestions on integrating Guangrao tire industry and expanding tire control system: mainly including those industries controlled by computers" put forward by Guangrao County Bureau of quality supervision. In the proposal, it is proposed to establish Shandong tire group company, integrate tire enterprises, and create a famous tire brand "Le'an". Le'an is the old name of Guangrao, with historical and cultural heritage. At the same time, "Le'an" means peace and peace, which is easy to form awareness in the market and form a sense of identity within a certain range, which is conducive to the expansion of the brand and enhance the value of the brand. After integration, "tire city" will be reborn and break through in the cold winter

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