| I. PURPOSE & SIGNIFICANCENowadays, capital management of restructural assets has been an important means of bettering stored capital and of adjusting increased dispositions. Of the situations of restructuring assets in China Stock Market, what Sichuan's listed companies have done may reflect the general conditions of listed companies in the whole country. With the emphasis of the national economic development being shifted to the West China, it becomes increasingly an important concern by various circles in Sichuan that how to develop and exploit the precious resources of the listed companies, and that how to be on the alert against risks caused by restructure of assets. To propel the development of Sichuan's economy forward, therefore, the problem of restructuring assets in Sichuan's listed companies should be handled with from an overall point of view.II. BASIC CLUES & LOGICAL STRUCTURE This thesis dissects the basic reasons concerning restructure of assets in Sichuan's listed companies, and, with a thorough analysis of current situations and troubling problems of restructure of assets in Sichuan's listed companies, it also respectively puts forwards creative, constructive thoughts and proposals on further development of Sichuan's listed companies.III. MAIN CONTENTS AND KEY VIEWPOINTS This thesis consists of three parts.Part One deals with a dissection of the inside reasons concerning restructure of assets in Sichuan's listed companies, implying that listed companies are vital resources in the corresponding areas and an important means of resource dispositions. However, serious phenomena of "resources-crustalized" exist in Sichuan's listed companies, that is, irrational industrial structures, narrow developing scopes as well as lack of competitive advantages have brought about a polarization of management achievements, which, consequently, caused the companies go downhill every year and see no brilliant prospects in their management. Many listed companies cannot become leading enterprises, which are able to bring along sufficently the economic development of the local areas, and form no necessary industrial advantages. They cannot play wholly the part of the promotive force in the economic development of the local areas, and, thus, present only the values "resources-crustalized". As it is well known, different formations of assets, planned by different management systems their existential ways and operational processes (i.e. the so-called "crust of assets"), show different aspects of profitability, mobility and risks, and this demands objectively the mobility of different "crusts of assets". The above-mentioned phenomenon has essential and inevitable connections with the transitional characteristics of social economic systems that are shifting from planned economic system to market economic system in our country. So, restructure of assets in Sichuan's listed companies reflects not only the desirable calls of systematical arrangement and marketablized development, but also the historic selection of developing vigorously the listed companies in Sichuan Province. Furthermore, structure of assets also shows the inevitabilities of striving for development in the increasingly fierce market competitions, of taking advantage of the stock market to adjust the industrial structures, and of speeding up the local economic development.Part Two introduces specifically the basis conditions of restructure of assets in Sichuan's listed companies. Under the guideline, determined by Sichuan Provincial Government, of "emancipating thoughts, restructuring assets, adjusting industrial structures and shifting systems ", 38 of the 53 listed companies (A shares) in Sichuan Province have restructured their assets in different ways. These various styled movements of restructure of assets demonstrate that of either the governmental guidance or the independent operation in accordance with the market systems. With its range, depth, dynamics and variety being more advanced than the other provinces... |
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