on the giant group in January 1997 when the crisis occurred in the assets, liabilities, Shi Yuzhu after the comeback to the media made a detailed description:
I say first debt: Hongkong 100 million uncompleted, domestic 50 million flats, this is 150 million. Then the operating in debt, there are several, one is that the production of health products raw materials suppliers, one is we owed others, there is a two node, is to write to my pen on the raw materials, raw materials to settle, then rules generally do.
so accumulated? Because there are some other, including computers, this piece is about 100 million. This debt is 250 million.
my assets are like this: giant building, the audit result is 170 million, of course, everything in it. The land of the money, we are clear; design fees, about 10000000 Hong Kong dollars.
there is a piece of assets, we have 10 thousand square meters (square) meters of office buildings, is their own property, which even bought a decoration, spent about 50000000. This is 2. 200 million.
we have more than 300 million of the receivables.
general operation, I am with the raw material suppliers are two into one, I am also with agents into the two knot. Under normal circumstances, the problem can not be exposed.
300 million there are 1 hundred million receivables into two nodes, has a good reputation, not a problem; the other two hundred million with management, for it is difficult, not all get back, but the intensity is big, playing the lawsuit, come back a little more can.
such a calculation, my assets from the book is not too bad.
said the media giant bankruptcy, the situation has changed, you owe others, a little Lai away, people are catching up; others owe you, he thought the giant went bankrupt, not to you, at least he told you to drag, and this debt as long as two years (from the drag, *) Law (speaking) you can’t catch them.
so this piece of receivables fell.
but when Shi Yuzhu has been like a trapped beast, he said:
it was a difficult time. We didn’t even have the money to go to court. A lawsuit to pay a sum of money.
crisis comes, Shi Yuzhu has only two options:
is a bankruptcy, but the government bankruptcy is not agree, because at that time the famous giant is very large, it may not realize, (then) Zhuhai is the most famous business giants, if the giants went bankrupt, the Zhuhai investment environment has a great impact, so we talk with government officials (bankruptcy), the government does not agree, said about the bankruptcy does not talk. We then did not go bankrupt, but we also can not save, say with it, a drag also only in this way, we will not, do what.