A Case Study On The Bankruptcy Reorganizaion Of Nanjing Tanker Corporation

The global economy has been developing rapidly in recent years,but it is also facing huge risks and challenges brought by overcapacity.Overcapacity makes China’s economic growth trend start to slow down or even the economic downturn,the ratio of assets to owners’ equity of enterprises keeps rising,and the financial risks are getting bigger and bigger.Because of their special corporate nature,state-owned enterprises have a heavy debt burden,especially many listed state-owned enterprises with a large debt scale will be unable to continue,have been in bankruptcy crisis,struggling in the delisting edge.On the basis of the existing research and theoretical basis,By analyzing and sorting through re-listing case of? NANJING TANKER CORPORATION(hereinafter referred to as NJTC).Firstly,the paper introduces the 27 years’ history from the establishment of NJTC to the re-listing of NJTC,and then analyzes the internal and external causes that lead NJTC to fall into the bankruptcy crisis;Then it introduces the content of bankruptcy reorganization plan after delisting and analyzes the performance of the reorganization with a number of financial indicators;Finally,the paper draws the conclusion of the bankruptcy reorganization case of NJTC and puts forward the enlightenment and suggestions for the government,securities regulatory commission,enterprises and small and medium investors.This paper hopes that through the study of the case of the bankruptcy reorganization of NJTC,it can supplement the study of the bankruptcy reorganization theory of state-owned enterprises and help the enterprises in difficulties.As the first share that was forced to be delisted after delisting reform,it is also the first practice since the implementation of the re-listing system.The case is not only representative,but also relatively new,and the relevant research is also relatively few.Its successful restructuring program content can also be used for reference by enterprises in bankruptcy difficulties,and the case of its rebirth and re-listing will make enterprises in the delisting stage regain confidence.