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Debt-to-Equity Enterprise Bought Back Stock Rights
After buying back 4 million yuan of stock rights from China Great Wall Asset Management Company, Hunan-based Artificial Board Factory has made itself the first to have recovered its stock rights among those debt-to-equity enterprises in China.
Listed in the first batch of debt-equity enterprises approved by the State Council, Hunan Artificial Board Factory was renamed Hunan Changyuan Artificial Board Co Ltd. inaugurated on August 30, 2000.
China Great Wall Asset Management Company had been the biggest shareholder of Hunan Changyuan Artificial Board Company and has actively helped it in reforming its management system. With the help of the asset holding company, the Artificial Board Company obtained profits in the same year through deepening reform and strengthening management. It had been in a loss-making situation over six successive years and has by now stepped onto a stage of sound development.
It is reported that among the 22 debt-equity swap enterprises cooperated with China Great Wall Asset Management Company, most will make profits in the same year.
By PD Online Staff Li Yan
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