Motivation And Performance Study Of Debt Restructuring Of Kaisa

With the continuous growth of China’s economy,listed companies are growing.However,in the process of development,some listed companies have problems such as poor asset-liability structure and weak solvency,which have a negative impact on the overall development of China’s listed companies and the market.In order to get rid of financial crisis,enterprises often resort to debt restructuring to solve the debt problem.Debt restructuring is an effective way of capital operation.It can rationally adjust the structure of assets and liabilities,reduce financial risks and bring vitality to enterprises when financial distress occurs.In recent years,it has been used by many listed companies.In recent years,real estate enterprises have developed rapidly and obtained huge profits.However,under the huge benefits,there are also serious high leverage risks.The leverage ratio of Housing enterprises has been high,and there is a trend to continue to rise.The asset-liability ratio of the real estate industry has become the third highest after the banking and non-bank financial industries.This paper uses case analysis method to analyze the case of debt restructuring of Jiazhao Industry,a well-known real estate listed company,across 65 billion domestic and foreign debt restructuring caused by cross-default.Firstly,this paper elaborates the concepts and theoretical basis of debt restructuring,introduces the basic situation of debt restructuring of Jiazhaoye,and analyses the particularity of debt restructuring of Jiazhaoye from the two debt restructuring schemes proposed by Jiazhaoye and the reaction of the market.Then it analyses the causes of debt restructuring of Jiazhaoye.At present,Jiazhaoye has a high debt ratio,great pressure on repayment of debts,and assets freezing leads to the breakdown of the capital chain.However,Jiazhaoye has a strong strength,various ratios are relatively stable before the debt problem arises,and the company’s business prospects are good.In order to protect the rights and interests of creditors and other stakeholders,Jiazhaoye urgently needs to get rid of its finance through debt restructuring.Predicament.This paper analyses the financial performance of Jiazhao industry from the aspects of solvency,profitability,operation ability and growth ability.It also analyses the management performance of Jiazhao industry from the aspects of resource integration ability and operation development ability,and comprehensively analyses the effect of debt restructuring of Jiazhao industry.Finally,it comes to the conclusion that equity concentration is conducive to debt restructuring and debt restructuring is an effective way for enterprises to solve financial difficulties.This case is the first case of real estate overseas bond default and restructuring in China.It can provide valuable experience and lessons for enterprises and creditors both at home and abroad in dealing with debt default.The debt restructuring scheme is a result of many games between the two sides and finally reached an agreement.It is worth further study and study by listed companies with similar situations.