【新唐人2014年07月22日訊】日前，山西一家民營企業宣佈下週到期的4億債券，可能無法按時兌付，因為公司董事長被帶走協助調查造成。
7月16號，山西民企華通路橋集團發佈公告說，由於企業董事長王國瑞仍在協助有關部門進行調查，不能返回企業主持工作，7月23號到期的 4億短期融資債券兌付，存在不確定性。市場觀點認為，由於本期短期融資沒有擔保，如果不能如期兌付，這期債券將成為中國首宗本金違約的債券。
公開資料顯示，華通路橋集團已經成為一家集道路橋樑、房建地產、煤炭資源、環保建材、農業餐飲為一體的綜合型大規模企業，註冊資本15億，年產值近百億，下設房產、環保等近二十家子公司及路橋、建安、機械施工、裝飾建材及建材研究所等二十多個分公司。
公司董事長兼總經理王國瑞，作為公司實際控制人，持有公司股權60.25%，是公司經營決策、資金籌措及資金調度的總負責人，屢屢躋身「胡潤百富榜」。
公開資料顯示，王國瑞因涉嫌違法，已經在7月10號被撤銷政協山西省委員會委員資格，而同一天被免職的，還有山西省委員會副主席令政策。
大陸投資顧問鄧先生：「如果說從官員們下手，最後都是落到企業那裏，不管是國企、央企、民企，凡是那些和政府官員走得近的，都可以很容易的查出來，問題是誰查，查誰，甚麼時候查，這不是一個個案。」
原四川首富劉漢，和「中旭系」的實際控制人吳兵，及商人米曉東等巨富，和所謂的民營企業家們，都被大陸媒體稱為，是給原政法委書記周永康洗錢的「白手套」。
根據「華通路橋」官網介紹，「華通路橋集團」列山西省百強企業第30名，被「中國農業銀行山西省分行」評為AAA級信用度企業，集團商標被評為山西 省著名商標，中共山西省委組織部，曾經授予這個公司「全省創先爭優先進基層黨組織」稱號。「華通路橋」還先後獲得「山西省優秀企業」、「山西省功勳企 業」、「山西省五一勞動獎狀」等100多項所謂榮譽。
北京大學光華管理學院博士生導師王建國：「權控經濟它的根本的一個矛盾在哪裏呢？主要的經濟活動都是被政府管制的，它是由這些官員來執行的， 所以他們就會收取賄賂，人家不給賄賂他不批，不放鬆控制的話，不把這個管制權、控制權放到市場去，但是你又要反貪，這個經濟就會垮掉，中國權控 經濟的情況下，貪污腐敗是它經濟發展的一個很重要的動力。」
據了解，道路橋樑建設所產生的經濟效益，佔據「華通路橋」收入的半壁江山，「華通路橋」的另外兩大支柱產業，分別是房地產和煤炭資源開發。「華通路橋」官網聲稱，目前，集團公司核准的煤炭資源儲量已經達到50億噸，形成了年核定總產能為1000萬噸的開採能力。
據報導，除了迫切需要兌付的4億元短期融資外，「華通路橋」還欠有數十億銀行借款。當地政府得知消息後，已經開始商討對策，準備兜底，要求當地銀行對「華通路橋」只能注資不抽貸，到期希望轉貸。
鄧先生：「說明政府在這裡面涉入很深，允許那些不法經營和黑金交易的話，那就一定衝擊市場經濟，對正常的經營形成衝擊和破壞，它破壞的是一個經濟環境，破壞的是一個遊戲規則，最後造成的影響，那真的是國家買單、社會買單。」
而面對發行人如此巨大變故，評級公司卻反應有些「滯後」。今年6月27號，負責債券評級的「聯合資信」，給出的跟蹤評級還維持原來的評級，債項為A-1的評級，主體評級AA-，評級展望為穩定。
採訪編輯/劉惠 後製/蕭宇
Shanxi Private Enterprise Chairman Investigated,
Facing Breach of $64M Contract
A private enterprise in Shanxi Province recently announced
that 400 million yuan ($64 million) worth of bonds due next
week may not be able to be honored on time, because
the chairman of the board was taken away for investigation.
Huatong group, a private enterprise in Shanxi, released it’s
announcement on July 16 that the chairman, Wang Guorui,
is still assisting the relevant investigative department, and
won’t be able to go back to work.
So, the redemption of the $64 million financing bonds
due on July 23 is uncertain, the notice says.
Market analysis says it’s a short term financing
without guarantee;
If the company can’t honor the bonds on time, it’ll be
China’s first breach of bond principal.
http://stock.jrj.com.cn/2014/07/17093617621773.shtml
Public information shows Huatong group is an integrated
large-scale enterprise that is involved in roads and bridges,
housing construction, real estate, coal resources, eco-friendly
building materials, agriculture and food.
It has 1.5 billion yuan ($241 million) of registered capital, and
nearly 10 billion yuan ($1.6 billion) of annual production value.
It has 20 real estate and environmental branch companies
and another 20 branch companies for road and bridge,
construction, installation, mechanical construction,
decoration materials, and construction institutes.
Wang Guorui, the chairman of the board and the general
manager, holds 60.25% of the company equity.
He’s the overall responsible person for the company’s
operating decisions, financing and funding.
He has appeared on Hurun Rich List several times.
On July 10, Wang’s qualification for member of Shanxi
committee, was removed on suspected violation of the law.
On the same day, Ling Zhengce, vice chairman of the
Shanxi Committee was also dismissed.
Mr. Deng, investment advisor in mainland China,“when
investigating officials, [the corruption] all eventually leads
to enterprises no matter state-owned or private-owned.
All those enterprises that have close ties with officials are
easy to find out the problems.
The key is who to investigate, and when to investigate.
It’s not a single case.”
Liu Han, former richest man in Sichuan Province, Wu Bing,
who controls Zhongxu Investment Co. Ltd, and wealthy
businessman Mi Xiaodong, are private entrepreneurs who
are considered by Chinese media as the “white gloves”.
They whitewash dirty money for former secretary of the
Political and Law Committee, Zhou Yongkang.
http://bbs.tianya.cn/post-50910-4381-1.shtml
According to Huatong Group’s official website,
the company is the top 30 company in Shanxi.
It’s evaluated as the AAA level credible enterprise,
and the famous Shanxi trademark.
The Shanxi Chinese Ccommunist Party (CCP) Committee
also awarded Huatong group “Creative and excelling grass-
root party organization in the Province.” The company has
earnt over 100 honors.
Wang Jianguo, doctoral supervisor, Management team
of Peking University, “what’s the root of power controlled
economy? All the major economic activities are controlled
by the government, implemented by the officials.
Thus, they take bribes, without which they don’t give
project permits to companies.
If not loosening up control, or giving the power of
control to the market, the economy will collapse.
In China’s power controlled economy, corruption is a
major power that drives development of the economy.”
Half of the economic benefits of Huatong come from road
and bridge construction.
The other two main industries are real estate and
development of coal resources.
Huatong’s official website says the company’s
coal reserves have reached five billion tons.
They have a mining capacity of 10 million tons a year.
Besides the $64 million bonds in need, Huatong also
owes billions yuan to bank loans.
Local government has started to discuss measures to
solve the crisis.
They are asking local banks to inject capital and not to
recover the loan early, and transfer the loan when it’s due.
Mr. Deng said, “it shows the government is deeply involved.
Allowing illegal business deals and trades will impact
and damage market economy.
It destroys the economic environment, rules of the game,
and will eventually impact the nation and society.”
Facing such big change of the issuer, the evaluation
company’s reaction is late.
On June 27, Lianhe Ratings still gave
Huatong a high level as before.
Huatong’s debt was leveled to A-1, and overall was leveled
at AA-, which is a stable evaluation result.
Interview & Edit/LiuHui Post-Production/XiaoYu
