The hottest state-owned assets appreciate in the f

The state-owned assets appreciated in the flow

a small state-owned enterprise in a loss situation created a profit of 14million yuan and paid more than 4million yuan of tax in the second year of merger, which suddenly became a "sweet cake" from the "burden" of society. Is it the "gift" of the merging party? Is it their own "hardship"? Or the "special care" of the government? The practice of the operation of Shanghai Pudong New Area printing factory since it was merged for more than a year has provided us with the answer

I. background of the merger

1. Brief information of the merged Pudong New Area printing plant and the merging party mozihua company

the Pudong New Area printing plant was built in June 1952 and has a history of more than 40 years. Its predecessor was Shanghai Chuansha printing plant, which is a local state-owned enterprise. The enterprise is mainly engaged in the printing of general invoices, various vouchers and account books. Due to its outdated production equipment and backward technology, it can not adapt to the increasingly fierce market competition, and its business volume continues to shrink. In 1997, the sales volume was only 2.62 million yuan, the profit was 6000 yuan, and the debt reached 876600 yuan. The short-term loan of the bank is 500000 yuan, and the current asset is 1010500 yuan, but the inventory accounts for 566400 yuan, while the monetary capital is only 304800 yuan, and the accounts receivable is 118100 yuan. The financial situation of the enterprise is quite difficult

mozihua company is a group company with a series of subsidiaries, which is based on Pinghu Xincang No. 1 garment factory and has implemented diversified operations in recent years. It is an export-oriented Sino foreign joint venture mainly engaged in the production of export-oriented clothing with obvious specialization. The company is set up and managed according to the modern enterprise system. The company has gathered a group of middle and senior management talents with rich experience in international and domestic trade and industry. In 1995, the company was listed as the top garment enterprise in China by the China National Textile Association and ranked first in the profit and tax of China's garment industry for three consecutive years. In 1997, the group's output value reached 2.2 billion yuan, profits and taxes 150 million yuan, and foreign exchange earnings from exports 220 million US dollars. The company has 9 clothing subsidiaries, 2 printing companies and a series of subsidiaries and offices serving the clothing industry. Zhejiang mozihua Printing Co., Ltd. is a subsidiary mainly engaged in printing clothing packaging materials. In recent years, with its first-class printing equipment and technology, the company has undertaken the current printing business of national value-added tax invoices, bank clearing machine transfer bills and other special business tickets with difficult printing technology and high anti-counterfeiting requirements. In 1997, the output value was 90million yuan, the profit was 20million yuan, and the tax was 4.04 million yuan

2. The internal motivation of the merging parties to implement the merger

Pudong New Area printing factory has fallen into difficulties in operation in recent years due to various reasons, mainly manifested in: (1) the enterprise management does not meet the requirements of the market economy, the internal lack of a guarantee mechanism for normal operation, no personnel mobility, no gap in distribution, and no competition for posts. (2) Employees have low education level, large age structure, high dependence on the enterprise, more retired workers and heavy burden. The average age of employees is 41 years old, 49% are female employees, 48% are employees over 40 years old, and 94% are employees with junior high school or below education level. (3) The equipment is old and unable to participate in the fierce market competition. The printing equipment belongs to the 1940s and 1950s. The state has no investment, and the enterprises are unable to purchase advanced equipment. The enterprises do not have the material conditions to participate in the competition, so it is difficult to sustain. (4) The lack of professional talents, weak technical force and the liberalization of talent flow have caused a large number of brain drain. The loss of business talents leads to the decline of enterprise sales and the loss of technical talents, which directly affects the quality of products

mozihua company urgently needs to expand its production scale due to the rapid expansion of business. The main reasons for its merger are: (1) merger and reorganization is conducive to changing the single mode of the company's products. Retain the original ordinary printing business, at the same time, introduce advanced equipment, add special tickets with high technical content and high anti-counterfeiting requirements, color self-adhesive trademarks, high-end color packaging paper and other printing businesses, making it a modern printing enterprise with multiple varieties and high technology. (2) The company can make full use of the advantages of Shanghai economic center. The company belongs to 22. Noise: there are many economic entities with a certain scale and financial strength when the host noise is lower than 65dB; The company has a development foundation in Pudong New Area; The company can further expand in asset capital management, international finance, trade, printing, and the opening of the domestic clothing market. 4. Protection: regularly check whether the buttons on the control panel are issued normally. (3) It is beneficial for the company to obtain time efficiency. Compared with internal investment, mergers save the time required for production and training new employees, so that enterprises can quickly put into production and achieve rapid expansion of scale in a relatively short time. (4) The implementation of mergers can also enjoy the preferential policies of the government. For example, the preferential policies on taxation and personnel placement stipulated in the "several supporting policies of Pudong New Area on supporting advantageous enterprises to merge and transfer small enterprises"

3. The mutual advantages of the two sides of the merger provide the possibility for the implementation of the merger

although the Pudong New Area printing plant is in trouble, it has certain advantages in the following aspects: (1) as a state-owned enterprise with a history of more than 40 years, Pudong New Area printing plant has a group of employees who are familiar with printing technology, and can undertake some printing businesses with high printing technology requirements and difficulties, which is a valuable asset of the factory. (2) The factory covers an area of 6.72 mu, and has a number of fixed assets such as plants and equipment, which provides space for the transformation of the factory and the renewal of equipment, and lays a foundation for the expansion of production, so that the merging party can be put into production quickly. (3) It has five qualifications in the printing industry, including tax invoices, receipts of administrative institutions, confidential documents, trademarks and provincial printing licenses for books and periodicals. These qualifications are also a special resource for printing plants. (4) Located in Pudong New Area, with superior geographical location, convenient transportation and low transportation cost, it can better radiate the whole East China while ensuring the supply of products to the Shanghai market

advantages of mozihua company: (1) the company is set up and managed according to the modern enterprise system, and has rich experience in international and domestic trade and industry; It has a modern management system and international first-class equipment and technology; It has 9 clothing subsidiaries, 2 printing subsidiaries and a series of subsidiaries and offices serving the clothing industry; It is a Sino foreign joint venture enterprise focusing on the production of exported clothing and with obvious specialization. It develops both foreign trade and domestic sales, and has flexible and diverse modes of operation. (2) The company has a strong marketing network and information system. The industrial clothing exported to Japan has accounted for more than 20% of the total demand for clothing in Japan, and famous clothing manufacturers from all over the world have been coming to negotiate; Set up 100 chain stores in nearly 100 medium-sized and above cities in China, and after the merger, we can take advantage of the great environment developed in Pudong to develop the Shanghai market; The company has a computer Internet information system. (3) It has financial and financial advantages. Some of the company's other investment projects have entered the return period. In addition, the listing of mozihua's shares and other financing channels and measures have relatively sufficient sources of funds

4. The elimination of obstacles between the two sides of the merger has laid the foundation for the realization of the merger

in the process of merger negotiation, the merger parties reached an agreement in many aspects, but encountered some obstacles at the same time:

the obstacles of Pudong New Area printing factory were eliminated. During the merger negotiation, the printing factory encountered many resistance, especially from the staff. Some employees believe that the merger is to sell the enterprise to "outsiders", which is emotionally unacceptable; Some workers are worried that after the merger, they will be managed by "outsiders", and their enterprise ownership status will be lost, and they will become "second-class citizens", and their rights and interests will not be guaranteed; Others expressed concern about the future prospects of the merged enterprise. In this regard, the leaders of the printing factory began with changing the employees' thoughts, strengthened the ideological work of the employees, did a good job of patient persuasion and persuasion, explained to the employees the important role of mergers and acquisitions in the development of the enterprise, and also led the representatives of the employees to Zhejiang mozihua company to make a field visit, so as to boost morale, build confidence, and relieve the worries of the employees

the obstacles of mozihua company are eliminated. Mezhihua company believes that the merger of an old state-owned enterprise such as the printing factory in Pudong New Area, which has obsolete plant equipment and heavy staff burden, will cost a lot. If the merger is carried out according to the 933000 net assets on the book of the printing factory, the interests of the company will not be guaranteed, and thus the idea of going elsewhere came into being. In this regard, the state-owned assets management department of the new area, proceeding from the long-term development of the enterprise and the vital interests of the employees, made a decisive decision and agreed that mozihua group would implement a zero asset merger of the Pudong New Area printing plant in the name of its Pinghu Xincang garment factory No. 1

$page break $2. Main measures taken after the merger

after the merger of the printing plant in Pudong New Area, mozihua company formulated the overall plan for the development of the printing plant in Pudong New Area. It is proposed to gradually expand the scale of the printing plant in Pudong New Area and improve its efficiency year by year through the construction of new plants, the purchase of new equipment, the increase of printing varieties, and the increase of output. Five years later, it will become one of the largest printing enterprises in China

the root cause of the current difficulties of the printing factory in Pudong New Area is mainly the poor operation mechanism, and the prominent problem is the poor product sales. To this end, mozihua company, in combination with the overall development of the company and the development requirements of the printing plant in Pudong New Area, has taken a series of measures to restructure the printing plant in Pudong New Area, focusing on mechanism restructuring, product restructuring, asset restructuring, debt restructuring and personnel restructuring

1. Mechanism reorganization

after the Pudong New Area printing plant was merged, it will become a wholly-owned subsidiary of mozihua company, and its production and operation will be carried out in accordance with the model of modern enterprises. Due to historical reasons, although the Pudong New Area printing factory has been market-oriented, due to mechanism defects, it seriously lacks the ability to resist market storms and cannot meet the requirements of modern enterprise operation. To this end, mozihua company reorganized the mechanism of the printing plant

first, strengthen market awareness and market mechanism. Enhance the ability of enterprises to explore the market, so as to reverse the current situation of poor product sales. Combine the strengthening of the market mechanism of the Pudong New Area printing plant with the overall operation of the company, and the powerful laizhihua Printing Co., Ltd. helps and supports the Pudong New Area printing plant to develop the market, with the consumption of the company's own printing materials as a guarantee

secondly, we should further improve the employment mechanism and incentive mechanism to create a good environment for excellent talents and provide conditions for employees to become talents. According to the contribution of employees, the level of distribution should be raised to fully reflect the principle of distribution according to work. We should really make the best use of people and materials, and mobilize the initiative and enthusiasm of cadres and workers to the greatest extent

third, introduce competition mechanism. The system that employees can enter and leave, and cadres can go up and down has been implemented to improve the efficiency of various posts, forming an orderly competition mechanism within the enterprise

fourth, establish a staff security mechanism. During and after the reorganization, the Pudong New Area printing factory cooperated with the establishment and improvement of the social security system in accordance with the relevant laws and regulations of the state, Shanghai and Pudong New Area,