On March 27th, 2020, a civil judgment of Guangrao County People's Court showed that Qingdao Xishui International Trade Co., Ltd. had to pay 479 10000 yuan to hengfeng bank, in which Shengtai Group Co., Ltd. was jointly and severally liable for "interconnection and mutual insurance" and Xingyuan Tire Group Co., Ltd. was jointly and severally liable for "interconnection and mutual insurance".
When the gate was on fire, the fish in the moat suffered.
On September 30th, 20 17, hengfeng bank signed a working capital loan contract with Xishui Company, stipulating that Xishui Company would borrow 44.36 million yuan from hengfeng bank, and the loan period was from September 30th, 20 17 to September 30th, 20 18. Shengtai Company and Xingyuan Company respectively signed a maximum guarantee contract with hengfeng bank, agreed to provide guarantee for the above debts, and agreed on the scope and duration of the guarantee.
After the signing of the contract, hengfeng bank issued the loan as agreed, but Xishui Company failed to fulfill its repayment obligations as agreed in the contract. On March 27, 2020, the civil judgment of Guangrao County People's Court showed that Qingdao Xishui International Trade Co., Ltd. had to repay hengfeng bank 47,965,438+00,000 yuan, of which Shengtai Group Co., Ltd. and Xingyuan Tire Group Co., Ltd. were jointly and severally liable for "interconnection and mutual insurance".
"Interconnection and mutual protection" has a long history
"Interconnected mutual insurance" loans appeared after the international financial crisis in 2008. At that time, small and medium-sized enterprises generally faced the problem of difficult and expensive financing, and the regulatory authorities introduced the "interconnection and mutual insurance" model. The financing environment is tight, bank credit is tightened, private enterprises can only hold a group to keep warm, the requirements of environmental protection and safe production are constantly improving, the financing environment of small and medium-sized tire enterprises is more difficult, and enterprises "join hands" to enter the "mutual insurance circle"
It is not the first time that Shengtai Group has been implicated in "interconnection and mutual protection". 2065438+July 2008, Shengtai Group assumed joint and several liability for Shenzhen Power Star Tire, returned 30 million yuan to Shenzhen Branch of Postal Savings Bank, and had to pay late fees. 20 18 1 1 Shengtai Group is jointly and severally liable for Shandong Lin Hao Copper Co., Ltd. to repay the principal and interest of Agricultural Bank, and the machinery and equipment mortgaged by Shengtai Group are also auctioned.
"guarantee chain" or "death chain"
A few years ago, the domestic tire industry developed rapidly, and many tire enterprises in Dongying, Shandong Province saw business opportunities. In order to obtain loans and promote business development, these small and medium-sized enterprises have established a debt relationship of "interconnection and mutual insurance". However, with the decline of the market, some tire companies are insolvent and have to rely on government support and bank lending for a long time. Behind these enterprises, there are often a large number of "interconnected and mutual insurance" enterprises. The "guarantee chain" may thus evolve into the "death chain" of the enterprise.
People in the tire industry have been worried that many tire enterprises in Dongying will fall like dominoes because of this complicated guarantee relationship.
Perhaps it is for this reason that the local government is very worried about the bankruptcy of tire enterprises. It is understood that once enterprises encounter financial problems, the government will come forward to coordinate and solve them. From banks to local governments, they all put forward suggestions on how to solve the problems caused by guarantee. The General Office of the China Banking Regulatory Commission recently issued the Notice on Further Investigating the Risk Hidden Dangers of Enterprise Interconnected Mutual Insurance Loans, and the Shandong Higher People's Court recently issued the Ten Articles on Service to Ensure the High-quality Development of the Private Economy, all of which are looking for solutions to the financing difficulties and expensive financing of tire enterprises.
At present, tire enterprises all over the country are in a difficult transition period, so it is inevitable to eliminate backward production capacity. But for promising tire enterprises, policies are needed to guide them out of the abyss of guarantee. In the reshuffle wave of tire industry, some enterprises are doomed to be eliminated, but more healthy tire enterprises will survive and create a better tire market.
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.