Study On Bankruptcy Reorganization Strategy And Effect Of Qinghai Salt Lake Industry Co.,Ltd.

In the environment of market economy,the competition among enterprises is very fierce,and large state-owned listed companies will also face many challenges.Many companies are in deep trouble for various reasons,and some companies may declare bankruptcy.Once the enterprise goes bankrupt,the interests of everyone cannot be guaranteed.Therefore,China began to improve the bankruptcy law and use the bankruptcy reorganization system to save those enterprises that still have operational value.Salt Lake Co.,Ltd.owed huge debts due to diversified investment projects,which led to bankruptcy reorganization.Salt Lake Co.,Ltd.is the first large state-owned listed enterprise in the chemical industry to carry out bankruptcy reorganization,which is representative.Therefore,this paper selects Salt Lake shares as the research object by means of case analysis.Firstly,it expounds the business situation,reorganization process,implementation scheme and current situation of Salt Lake shares before reorganization.Secondly,it analyzes the rationality of the bankruptcy reorganization of Salt Lake shares and the bankruptcy reorganization strategy.Then,the effect of bankruptcy reorganization is comprehensively measured from three perspectives:market performance,financial performance and the impact on stakeholders.Finally,the following conclusions are summarized:first,in the process of bankruptcy reorganization,the reorganization of assets,finance,strategy and operation and corporate governance clears the obstacles for future sustainable operation;Second,bankruptcy reorganization helped Salt Lake reduce the debt pressure;Third,the reorganization has realized the win-win of the company’s multi interests;Fourth,the government supports the promotion of bankruptcy reorganization.According to the research conclusion of the bankruptcy reorganization of Salt Lake shares,this paper obtains some successful enlightenment and the risks to be avoided in the future.Reorganizing the company should innovate the debt repayment scheme and flexibly resolve the debt crisis;Guard against the possible risks of debt to equity swap;Improve the withdrawal mechanism of creditors;Enterprises should also strengthen communication with the government and obtain government support,which is conducive to the smooth progress of reorganization.The Enlightenment from the success of bankruptcy reorganization of Salt Lake shares can not only improve the theoretical system of bankruptcy reorganization,but also provide experience for state-owned listed companies in similar difficulties.