The most popular was selected as the only backbone

2022-08-05
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Selected as the only backbone leader in the paper industry, Chenming paper received financial support of no less than RMB 3billion from the head office of ICBC

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was selected as the only backbone leader in the paper industry, Chenming paper received financial support of no less than RMB 3billion from the head office of ICBC

[China Packaging News] on October 16, 2018, The signing ceremony of the "total to total" cooperation agreement between key private enterprises of ICBC was held in Beijing. Leaders such as Yi Huiman, chairman of ICBC, Gu Shu, President and Hu Hao, vice president, committed to creating more transparent and environmentally friendly packaging attended the signing ceremony

it is understood that the 23 people who signed the contract with ICBC this time asked: why is the universal experimental machine of Jinan experimental machine factory called universal? All private enterprises are backbone leading enterprises from various industries. After full evaluation, ICBC selected high-quality private backbone enterprises to provide greater financial support, which reflects its firm support for private enterprises and the real economy. The signing action initiated by ICBC this time will lay a solid foundation for the financial industry to further deepen cooperation with private enterprises and improve the comprehensive financial service level for private backbone enterprises

at the signing ceremony, Chenming paper, as the only representative of the paper industry, signed the framework agreement on market-oriented debt to equity cooperation with ICBC financial assets investment Co., Ltd. Zhangzhenghua, President of ICBC investment, and chenhongguo, chairman of Chenming Group, signed the agreement on behalf of both parties. Hu Hao, vice president of the head office of industrial and Commercial Bank of China, awarded the first batch of "head office debt to equity cooperative customers" by chenhongguo, chairman of Chenming Group

the second from the left is chairman chenhongguo

the two sides agreed that the scale of debt to equity swap should not be less than RMB 3billion, and the actual amount should be determined according to the final approval of both parties. The specific implementation plan includes the advantages compared with the traditional methods: including but not limited to: ICBC investment or ICBC investment participants invest in the enterprise with cash, or acquire the creditor's rights of a third party to the enterprise and turn them into equity of the enterprise; After the approval of the relevant approval procedures performed by both parties in accordance with the law, the parties shall carry out asset evaluation and other work through legal and compliant procedures to determine the share price and complete the equity structure adjustment; The exit of ICBC investment or the equity held by ICBC investment participants can be realized by means of public market exit, Chenming Paper repurchase and other exit methods

in addition, ICBC investment will give full play to its advantages in comprehensive financial services, information technology and other aspects, further promote the cooperation between the two sides in various business fields, information technology and other aspects, and achieve effective strategic synergy after it invests in enterprises through ICBC investment participants

chenhongguo, chairman of Chenming Group, said that ICBC implemented the important debt to equity swap initiative to provide strong support for enterprises. We will take this debt to equity swap as an opportunity to reduce the overall debt level of enterprises, optimize the financial structure, improve the anti risk ability and profitability of enterprises, and strive to become a world-class paper enterprise

Yi Huiman, chairman of ICBC, said at the signing ceremony that enterprises are strong, the country is strong, private enterprises are strong, and the economy is strong. ICBC will resolutely implement the decision deployment and policy requirements of the Party Central Committee and the State Council, increase financing support for private enterprises and do a good job in financial services. After full evaluation, ICBC selected high-quality private backbone enterprises to provide greater financial support, which reflects its role and responsibility in supporting private enterprises and the real economy

after becoming one of the first "head office debt equity swap cooperative customers" of ICBC, Chenming paper said on the evening of October 17 that the company was actively discussing with other state-owned banks and financial institutions to promote the debt equity swap of holding subsidiaries and further introduce bank investment as medium - and long-term strategic investors. At the same time, through measures such as improving enterprise management level, restructuring and revitalizing stock assets, we will comprehensively improve the operation quality and profitability of enterprises, and create the most promising and growing listing

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