Environmental factors are mainly: national policy adjustment, company decision-making mistakes, poor management and media reports.
The cause of the giant group crisis began with the huge investment in the construction of the giant building. 1993, Giant Group decided to build a giant in Zhuhai.
Architecture. The building is designed with 70 floors and the height is over 200 meters. When completed, it will become the best in China. The building is located in the center of Zhuhai.
Prosperous areas. At that time, the real estate in China was the hottest, and the "giant" at that time was growing at an annual rate of 400 times.
Value-added, so, building a giant building is not a whimsical thing for the giant group, and it will become a giant after completion.
The symbol of rapid development of career. With the good wishes of all the staff of Giant Group and the vision for tomorrow, the Giant Building broke ground.
Work. At that time, the sale of uncompleted residential flats in Hong Kong raised 80 million yuan, and the mainland raised 40 million yuan, and the rest were collected by the giants.
The organization raised its own funds.
Giant Building was built in the specific economic environment of 1992 ~ 1993. Due to the national macro-control, China house
The real estate market suddenly cooled down. At that time, the giant building had just broken ground. Therefore, few people are interested in the pre-sale of uncompleted flats.
It is hard to see that Giant Group underestimated the long-term economic adjustment and real estate market risks, and did not make a full investigation.
Certificate. In addition, the Giant Building was delayed by 1 1 month due to floods and major technical problems. Also, the Giant Building is very big.
Xiamen has never borrowed a penny from beginning to end. At that time, the company was too confident in its own strength and thought it didn't need a bank loan.
Money, they can solve the problem of money. Now it seems that the idea at that time was a mistake. The total debt of the giant group is nearly 2.
1 100 million yuan, of which the bank only has more than 65.438+million yuan, and the creditors are mainly small investors and small processing plants, and the company's debts are settled.
The structure is seriously unreasonable