The reporter learned from the asset transfer auction of Gansu Changtong Cable (Group) Co., Ltd. held yesterday that after two hours of continuous bidding, part of the assets of the bankrupt company Gansu “Changtong Cable†was changed to 266 million yuan.
Gansu Changtong Cable Group is the largest wire and cable manufacturing enterprise in the northwest region and is located in Baiyin. On March 4th this year, the Baiyin Intermediate People's Court of Gansu Province announced that as of October 31, 2010, the group had total assets of 146 million yuan, total liabilities of 248 million yuan, and an asset-liability ratio of 169%. Insolvency is not enough to declare its bankruptcy debt.
Yesterday the auction was sponsored by Baiyin City Industrial and Information Technology Committee, Baiyin Bureau of Land and Resources, Gansu Changtong Cable (Group) Co., Ltd. bankruptcy administrator. Among the Changtong cable targets that have been transferred, only one valuation of the land has exceeded RMB 500 million. According to related parties of the Quartet auction, at the auction site, the auction of the 4-B plot, which covers an area of ​​47.91 mu, was once very fierce. This bid started with a unit price of 1.1 million yuan per acre, and after more than 20 rounds of intense bidding, the final The price of 1.56 million yuan per mu was won by No. 6 bidder. However, due to the price adjustment policies of the province and the impact of the real estate market, buyers at various auctions yesterday adopted a more cautious attitude in the auction of other parcels. In the end, this part of Changtong Cable's asset target was changed to a total of 266 million yuan.
Gansu Changtong Cable Group is the largest wire and cable manufacturing enterprise in the northwest region and is located in Baiyin. On March 4th this year, the Baiyin Intermediate People's Court of Gansu Province announced that as of October 31, 2010, the group had total assets of 146 million yuan, total liabilities of 248 million yuan, and an asset-liability ratio of 169%. Insolvency is not enough to declare its bankruptcy debt.
Yesterday the auction was sponsored by Baiyin City Industrial and Information Technology Committee, Baiyin Bureau of Land and Resources, Gansu Changtong Cable (Group) Co., Ltd. bankruptcy administrator. Among the Changtong cable targets that have been transferred, only one valuation of the land has exceeded RMB 500 million. According to related parties of the Quartet auction, at the auction site, the auction of the 4-B plot, which covers an area of ​​47.91 mu, was once very fierce. This bid started with a unit price of 1.1 million yuan per acre, and after more than 20 rounds of intense bidding, the final The price of 1.56 million yuan per mu was won by No. 6 bidder. However, due to the price adjustment policies of the province and the impact of the real estate market, buyers at various auctions yesterday adopted a more cautious attitude in the auction of other parcels. In the end, this part of Changtong Cable's asset target was changed to a total of 266 million yuan.
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