The Design And Analysis On The Reformance Of Wuhan Machine Factory

After more than 30 year's exploration and practice, the transformation of our country's state-owned enterprises has obtained some unprecedented theoretic understanding and entered into a stage of rapid promotion. The reform of the state-owned enterprises is intensely but orderly carried on.The thesis selects the project of the reform of the machinery factory of Wuhan of No. 8 Engineering Bureau of Water Conservancy & Water Power of China as the research object. It discusses about the transform theory, analyzes the history and present situation of the corporate, including the property structure, the present situation of personnel as well as the analysis of capital-debt, and brings forward the necessity of the reform so that it can gain the chance of survival and development.The thesis focuses on the design of the reform project. According to the basis and principles of the design, considering the actual situation of the enterprises, the thesis proposes the overall design, i.e."performing the reform in separate parts, collecting funds through debt reorganization and equity-raising, and then completing the reform together", and discusses on the details of how to carry out the reform, which can guarantee the fund. The core content of the project of state-owned enterprises reform is the choice among the five reforming mode which presently includes MBO.Debt-for merger: Increasing-investment-patterns (including the debt-to-equity swap), Purchase assets and Bankrupt reorganization. Through analysis and discussion, the author set forth the reforming mode suitable to the corporation, which is a mode: bankrupt reorganization. Then the thesis analyzes the difficulties in the design, including problems such as the treatment of the property, personnel allocation and the setting of stock of the new corporation.In the final part of this paper, the thesis proposes the performing scheme of the reforming project and the strategy of further development based on the research on the project design, and hopes that this research can help the corporation carry out the reform task quickly and successfully.