Since the launch of the "16 financial articles" of real estate in November last year, recently, I believe that everyone has been paying attention to how many insuring real estate companies can get out of the predicament, and Phoenix Panne has been reborn. But what caught people's attention was that asset management companies (AMCs) have become an important force in bailing out risk-taking real estate companies: on November 21, China Huarong, one of China's four major AMCs, invested 34800 million, following the financing support of 8.5 billion yuan in December last year, once again rushed to Sunac China's Sun Hongbin, and twice the cumulative amount of aid exceeded 10 billion, setting a record for the largest financing scale of insured real estate enterprises!
In addition, China Oriental, China Great Wall Assets, China Cinda, and Shaanxi Financial Asset Management Co., Ltd. and many other local AMCs have also cooperated with Sunac.
From December last year to the end of June this year, AMC intervened in 14 bailouts of real estate companies, with more than 48.4 billion yuan of bailout funds in addition to undisclosed projects, involving real estate companies such as China Evergrande, Sunac China, Kaisa, CIFI Group, Zhongnan Construction and Dexin China.
In January this year, the People's Bank of China issued more than 80 billion yuan of special loans to national asset management companies for the relief of real estate enterprises.
It can be said thatamcPresent alsoIt has become important for the real estate industry to bail outFunding**Also becomesPrevention and resolutionAll kinds of enterprises in the current societyIt is important to broaden the channels for the disposal of non-performing loans of financial institutions and promote the high-quality development of the financial industryStrength!
Except for the real estate industry, the scale of non-performing loans of various types of enterprises and individuals remains high.
It is expected that the balance of non-performing loans of commercial banks in 2023 will be 275 trillion yuan, a year-on-year increase of 659% and a non-performing loan ratio of 201%, up 009 percentage points.
According to the listing data of the Banking Credit Asset Registration and Circulation Center (hereinafter referred to as the "Yindeng Center"), there were 182 pilot non-performing loan transfer businesses in the third quarter of 2023, with a total amount of 493200 million yuan.
Great Wall Asset Management and China Cinda also participated in the disposal of the non-performing personal loan market as investors, and actively participated in the listing market to grab bags, and the AMC with the most bags in the third quarter was Liaoning Fu'an.
The overall situation of the announcement and listing of the pilot business of non-performing loan transfer in the third quarter of 2023.
Unit: 100 million yuan Unit: single.
In the primary market for non-performing assets, commercial banks are the main suppliers.
Q3 2023 Unit: 100 million yuan).
The large state-owned AMC company has strong financial strength and rich operational experience in rushing to dispose of non-performing asset packages. However, how can local AMCs like Fu'an, Liaoning Province, and even more local and private AMC institutions that have not obtained AMC financial licenses at all, operate and manage non-performing assets when they dispose of non-performing assets, so as to take a share of the non-performing assets market?
In my opinion,Local and non-governmental AMCs can start from the following aspects:
1.From relying on resources and contacts to professionally resolving risks. This is mainly to mitigate the risk. For example, when disposing of non-performing assets of personal loans, in addition to telephone reminders and local reminders, it can also be combined with arbitration, notarization, and even litigation, application for enforcement, etc., and even packaged and transferred.
2.Transfer from risk resolution to asset restructuring (industrial restructuring and upgrading).
3.The evolution from making the spread to repairing the value. This is the main principle of asset management companies to make money: fix it and sell it. Non-performing assets are sometimes gold mines, and repairing them through value is a mining trick.
How to increase the value of non-performing asset disposal?It can be carried out from the following aspects: enhancing the value of the debtor, self-debt restructuring, introducing third-party debt restructuring, exiting through capital market asset mergers and acquisitions, looking for potential debtors, finding hidden property clues, etc.
For collateral, the value can also be increased from the following aspects. For example, the collateral is effectively revitalized and renovatedFor example, land can be changed in nature, and even invested in real estate development;Operational collateral can be operated or leased to enhance its value.
Learning to fight wits and courage with all stakeholders can reduce the principal and interest.
Cut debt and increase asset value. Reduce the total amount of debt, cut interest penalty interest first, and then cut the principal and interest in half.
6.Through persuasion, consensus is reached, and the cost of judicial operation is reduced. As far as possible, there should be no judicial involvement.
7.Design outcomes and solutions that will delight everyone.
8.Adopt an enterprise hosting mechanism. Some asset packs you might think are junk, but in other places they could be gold mines.
9.Public welfare bond model. It is commonly used in the disposal of unfinished buildings.
10.Enterprise custody mechanism, reduce the whole to a zero strategy. Be patient and proficient in "25 tricks for CCP cracking and execution" and "36 tricks for CCP to deal with old people" - these tricks are explained in detail in our "Entrepreneur Capital Planning (CCP) Practical Course Class", welcome to learn more.
Zhu Gengzhou, China Capital Planning and Research Institute).