A state-owned nonferrous metals company that documents show has 14.51 billion yuan in liabilities says it filed for bankruptcy late last year.
国有有色金属公司负债145.1亿元,且已于去年年末申请破产重整。
Guangxi Nonferrous Metals Group Co., a state-owned enterprise in the southern region of Guangxi,
2月22日,广西有色金属集团在递交给上清所的声明中指出,
said in a statement given to the Shanghai Clearing House, on February 22 that it filed an application for bankruptcy in Nanning Intermediate People's Court in December.
去年12月份,公司已向南宁中级人民法院申请破产重整。
The Shanghai Clearing House is a state-backed financial institution for the interbank market.
上清所是一家为银行同业拆借市场进行清算的国资金融机构。
Guangxi Nonferrous owed 14.51 billion yuan to 108 creditors, namely subsidiaries, financial institutions,
据某公司高管向财新提供的文件显示,集团共有108位债权人,其中包括子公司、金融机构、
suppliers, construction companies and private bondholders, according to documents one company executive showed Caixin.
供应商、建筑公司以及私募债持有人,总负债额为145.1亿元。
The largest creditors are a subsidiary named Guangxi China Tin Group Co. Ltd., which is owed 1.63 billion yuan, and China Development Bank, which holds a debt of 1.60 billion yuan.
最大债权人为子公司-广西华锡集团股份有限公司,负债16.3亿元,以及国家开发银行,负债16亿元。
"The nonferrous industry is facing downward pressure and the company had limited return on new investments in the past few years," a person close to Guangxi Nonferrous said.
据知情人士表示,过去几年间,有色金属产业下行压力巨大,新投资项目回馈有限。
"These factors have resulted in tight cash flow."
这些因素导致资金流动不足。
The firm has received government subsidies but still reported a loss of 2.29 billion yuan from 2012 to 2014, its financial reports show.
该集团已获得政府补贴,但据金融报表显示,从2012-2014年,集团损失22.9亿元。
In June last year, Guangxi Nonferrous said it was having difficulty repaying its bonds, citing excess capacity and falling prices.
去年6月份,因产能过剩,价格持续下跌,集团已无法偿还债券。
The problem was solved when China Development Bank agreed to help, a bank employee told Caixin.
银行职员对本台表示,国家开发银行帮助解决了困难。
But Guangxi Nonferrous defaulted on two other bond payments that were due in November and February, he said.
但去年11月和今年2月份到期的债券未能及时偿还。
The company is being restructured, several people with the knowledge of the matter said.
多名知情人士表示,集团正在进行重组。
Guangxi Nonferrous' executives met with creditors on March 18 to discuss restructuring, but no detailed plans were drawn up, the sources said.
3月18日,集团高管就重整问题与债权人进行会谈,但据知情人称没有制定具体方案。
The management team said at the meeting that the Guangxi government promised to see that the restructuring was done in six months.
管理团队在会上表示,广西政府承诺将在六个月内完成重整。
Guangxi Nonferrous was founded in 2008 in Nanning by the State-owned Assets Supervision and Administration Commission,
2008年,国有资产监督管理委员会在南宁创建广西有色金属集团,
a central government agency that oversees state-owned enterprises, with registered capital of 1.16 billion yuan.
注册资金为11.6亿元,该委员会负责监管国有企业。
The Guangxi government wants to protect its nonferrous metals industry, a person with the knowledge of the matter said,
据知情人士表示,广西政府希望保护有色金属产业,
and added that Guangxi Nonferrous' subsidiaries are still operating.
还称集团子公司还在运行。