Research On Debt Crisis Disposal Method And Effect Of Salt Lake Shares

In recent years,our country has deeply promoted the reform of market-oriented and rule of law to prevent and resolve major financial risks.After breaking the rigid payment expectation of corporate bonds in2015,the debt crisis of Chinese enterprises occurred frequently,which aroused the attention of national public opinion.Therefore,it is worth studying deeply to choose which disposal mode can be used when Chinese enterprises break out debt crisis,and which effect will be produced by this mode,in order to provide referable case for Chinese enterprises and provide theoretical basis and case support for preventing the significant financial risk.In this paper,Salt Lake Shares,a listed company that successfully and efficiently handled a debt crisis involving 48.273 billion yuan in 2020,is selected as the research object,which is typical and enlightening.In this paper,the single case study method is combined with quantitative and qualitative analysis method to study the way and effect of the debt crisis disposal of Salt Lake Shares,and the enlightenment is summarized for reference.This paper consists of six parts,striving to combine theory and practice,illustrated the research results in an easy-to-understand way.The research process is as follows: Firstly,it summarizes and comments relevant researches at home and abroad to explain the relevant concepts and theoretical basis;secondly,it analyzes the causes and manifestations of Salt Lake Shares in debt crisis,sort out the process of its successful disposal of debt crisis,extract the disposal methods of Salt Lake Shares debt crisis from the disposal process,and analyzes the effects of the disposal methods.Finally,it draws conclusions to summarize the enlightenment.It is found that the disposal method adopted by Salt Lake Shares has produced positive effects and successfully handled the debt crisis.Specifically speaking,its disposal methods and effects are as follows: first,it actively obtains external assistance for bankruptcy reorganization,which enables Salt Lake Shares to survive,improves the time efficiency of crisis disposal and keeps the staff stable;Second,it quickly stripped off the loss-making sector and actively resumed listing,which improved the asset structure of Salt Lake Shares,reduced the cost rate and improved the profitability,thus turning the loss into profit and restoring the ability of cash flow.Besides,it included the profit and loss of the loss-making sector into the 2019 profit statement by reasonable use of the adjustment rules after the balance sheet date to meet the requirements for listing restoration.Successful resumption of listing;Third,the comprehensive use of cash,debt retention and market-based debt-to-equity swap for classified repayment has properly disposed of a huge debt of 48.273 billion yuan,and market-oriented debt-to-equity swap has optimized the capital structure and reduced financial risks.The introduction of shareholder representatives to the board of directors and the board of supervisors has improved corporate governance,and the relative control rights remain unchanged in debt-to-equity swap.In the end,on the basis of summarizing the disposal methods adopted by Salt Lake Shares and their effects,the paper puts forward the corresponding enlightenment for reference,and explains the research deficiencies and prospects.