The country’s largest textile printing and dyeing enterprises are facing a huge crisis

This quarter, Shaoxing County, blowing the shocking “closure of the wind,” is the collapse of the local “giant” in the enterprise: the largest local enterprises, the largest in Asia, the world’s second PTA production capacity of Zhejiang HUALIAN Sanxin petrochemical limited And the country’s largest textile enterprises in Zhejiang Martial Law Group Holdings Ltd. all have been taken over by the government, faces an uncertain future.

Hualian which Sanxin list of shareholders in listed companies Hualian Holdings (000,036) and the West Village (000,936), the controlling shareholder, the well-known township enterprises in Jiangsu Huaxi Group. Martial Law and the Singapore-listed holding company for the Chinese printing and dyeing actual holders.

Yesterday, Shaoxing, according to a local source, Deputy Director Zhou Zhenmin Sanxin Union has been controlling the police, and the other shareholders of the company, Zhejiang plus Nigel Burley Holding Group Company Ltd., Sun Li Yong then lost contact, unconfirmed Said the news has to go abroad.

Hualian fruitless trips to Sanxin futures?

Concerning the Sanxin Union, the first from the futures market.

Sanxin Union’s main business for the PTA, PTA is a kind of chemical raw materials, crude oil from the refining process after a series of out mainly used in the manufacture of chemical products such as polyester. At present, China is the world’s largest consumer market, PTA, the PTA last year, China produced 5,500,000 tons, the consumption of more than 10,000,000 tons, is expected to demand in 2010 will reach 17,000,000 tons. December 18, 2006, the Zhengzhou Commodity Exchange listing of PTA futures varieties of the world’s first PTA futures varieties.

Hualian Sanxin trend in September this year to do more to take over the high price massive 150,000 tons Spot futures firm offer, the money involved in at least 10 million. If the current spot price, the prices faced by the loss of close to 500,000,000 yuan. According to the analysis, Sanxin Union to do more in the hope that this tense situation caused by the spot, took the opportunity to change the trend of prices of PTA, the remodeling market confidence.

“PTA809 contracts, positioning error, so more is the trend Sanxin Union committed to the fundamental error. In addition, the risk that recent rejections of the gambler’s mentality is to play the role of adding fuel to the flames.” Jukui game for the past 5 Billion in the futures, a futures, said such employees.

Wing On chemical and energy futures analyst Liu Wenwang in daily Chinese Commercial News reporters Cai Fangshi and Ze Biaoshi, production enterprises to enter the futures market, preserve and increase the cash itself has not done anything wrong, “other industry enterprises have also designed the PTA futures trading, only three Union Xin operation of the train of thought a little unusual. ”

Rumors arena shareholders strife

Members of the public in this story is another version with more “Jiang Hu” atmosphere.

As rumors of PTA production Hualian Sanxin Xiaoshan and a rich, Mr. Q in the futures market reached an agreement. Q Mr. Bicang, do more PTA809, will pull up the price. As the Sanxin Union and the very large amount of cash, a large number of the stock market is bound to impact the market price, the union agreed to Sanxin will be no less than Mr. Q’s price into the market. “Since the price of pulling up to a higher price into the market, the Union is good for the Sanxin.” Speaking on condition of anonymity to the futures industry, “Daily News” reporter said, “so Hualian Sanxin of goods is able to sell out, whether the number of orders or market demand will be able to absorb its output. “It is said that the two also put a penalty of 20,000,000. “Which side breach of contract, not the 20,000,000.”