Asset reorganization refers to the reasonable division and structural adjustment of the assets and liabilities of the original enterprise when the enterprise is reorganized into a listed company, and the reorganization and setting of the assets and organizations of the enterprise through merger and division. The narrow sense of asset reorganization only refers to the division and reorganization of assets and liabilities of enterprises, while the broad sense of asset reorganization also includes the establishment and reorganization of enterprise institutions and personnel, and the adjustment of business institutions and management systems. At present, the assets reorganization generally refers to the assets reorganization in a broad sense.
Asset reorganization is divided into internal reorganization and external reorganization. Internal reorganization means that enterprises (or asset owners) readjust and allocate their internal assets according to the principle of optimal combination, so as to give full play to the partial and overall benefits of existing assets and bring the greatest economic benefits to operators or owners. In this reorganization process, only the internal management mechanism and asset allocation of the enterprise have changed, and the ownership of assets has not been transferred, which belongs to the internal operation and management of the enterprise. Therefore, there is no legal relationship between rights and obligations with others.
External reorganization enables enterprises or enterprises to divest non-performing assets and allocate excellent assets through asset trading (acquisition and merger) and exchange, so as to give full play to the benefits of existing assets and obtain the maximum economic benefits. In this form of asset reorganization, enterprises buy or sell some assets, or lose the qualification of independent subject. In fact, the ownership of assets is only transferred between different legal subjects. Therefore, the legal essence of this form of asset transfer is asset sale.
Related contents of reorganization of listed companies:
The way of reorganization
Listed companies realize asset reorganization by purchasing assets, replacing assets, selling assets, leasing or trusteeship assets, donated assets, and restructuring corporate liabilities.
The specific work of asset reorganization includes:
The reorganization of enterprise assets and liabilities occurs at the enterprise level, and can be realized with the approval of the board of directors or shareholders' meeting according to the authorization;
The reorganization of enterprise's equity involves the change of shareholders or the increase of share capital, which generally needs to be examined or approved by the relevant competent departments (such as China Securities Regulatory Commission and Stock Exchange), and the approval of the national financial department is also needed for the state-owned equity.
Realizing asset reorganization will bring the following benefits.
1 improve the capital profit rate
2 Avoid horizontal competition
3 reduce related party transactions
4. Separate the assets that are not suitable to enter the listed company.
What kind of company is suitable for asset restructuring?
When the scale of the enterprise is too large, resulting in low efficiency and poor efficiency, in this case, the enterprise should divest some businesses that are losing money or whose costs and benefits do not match; When the scale of the enterprise is too small and the business is single, which leads to greater risks, we should enter new business areas and carry out diversified operations in time through acquisition and merger to reduce the overall risks.