Study On Strategy And Effect Of Bankruptcy Reorganization Of Q Company

Against the backdrop of negative macroeconomic impacts such as the COVID-19 pandemic and deepening supply-side reform,enterprises are facing increasingly prominent challenges in their development.Some enterprises are facing problems such as overcapacity and insufficient deleveraging ability,losing their dynamic balance in development and facing huge pressure on sustainable operation,and thus exiting the market.As the main body of market economy operation,enterprises have not been effectively utilized all the valuable production factors they carry.The bankruptcy reorganization system can reduce excess capacity and rationally allocate production factors,which is in line with the goal of supply-side structural reform.Therefore,under the current background,Q Company,as the first listed automobile and motorcycle company that has efficiently completed restructuring,has made some innovations in the mode of introducing restructuring investors,and exploring its program innovation and effect has certain reference significance for other enterprises facing similar difficulties to restore the vitality of production and operation.Based on the operating value theory,stakeholder theory and social policy theory,this paper analyzes the bankruptcy reorganization of Q Company by using the methods of case analysis,comparative analysis and event study,and studies the causes and strategies of bankruptcy reorganization.It is found that: Q company restructuring success is inseparable from the government’s help,Liangjiang New Area government organization personnel set up the "Manjianghong" fund project team,not only in the capital to help,and actively docking,the introduction of industrial investors.In addition,when the search for investors meeting the dual needs of capital and industry failed,the innovative plan of "financial investor + industrial investor" was proposed.Among them,the financial investor Liangjiang Fund joint industrial investor Geely Metroer capital injection,together to participate in the bankruptcy reorganization.Q Company makes reasonable use of the institutional advantages of bankruptcy reorganization to improve the repayment rate of creditor’s rights,improve its financial data,avoid withdrawal from the capital market,and better safeguard the interests of stakeholders.In terms of claims,financial investors inject funds that can be used to pay off debts into the company.In terms of follow-up management,industrial investors provide new business,new technology and new business model for Q Company.This not only solved its debt crisis,but also brought new impetus to the sustainable operation after bankruptcy reorganization,guaranteed the restructuring of the financial business dual development,improve the company’s long-term development ability,and fundamentally resolved the enterprise management crisis.