Case Analysis Of Shenyang Machine Tool Co?LTD Bond Default

Bond market is the important part of the financial market in China in recent years,with the rapid development of the bond market,bond market credit risk has also been gradually accumulated and exposure,on March 4,2014,11 super JGBS was formally become China's first default Public Offering Bond coupons to default,the bond defaults rash,led to the credit debt default in 2019 both quantity and amount for hit a historic peak so in-depth analysis of the enterprise and on how to build a bond default risk prevention system has also been widely attention,to promote the stable development of China's bond market and the healthy development of the environmental protection enterprise has a certain practical significance.Based on 15 shen machine shares MTN001 event of default as the research object,which leads to the fog to god environmental bond default risk study follow the basic steps of case analysis,from the accumulation industry regional distribution to describe the present situation of our corporate defaults,then the basic information about the company's default bonds issue is the default process follow-up disposal measures are analyzed from the profitability of operating capacity debt paying ability to describe the process of enterprise financial deterioration,and from two aspects of macroscopic and microscopic reasons for the corporate bond default is studied.Last article on the corporate bond defaults has carried on the induction summary of enlightenment on how to guard against the risks of bond defaults suggest the transformation of the first enterprises need careful,scientific development financing planning,strict controls of dependence on external financing,improving the management of accounts receivable is the second investors choose risk identification ability of the managers,diversification and keep tracking the third strengthen credit rating,a rating agency to track the risk,keep the independence,perfect rating method and the system finally,must strengthen the external supervision and market mechanism,perfect the mechanism of investor protection,perfecting the corresponding laws and regulations,protect the investors.