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News & Trends

JFMI Disposes “Zombie Enterprise" Rapidly and Effectively in the Mode of Being Brave to Take Responsibilities, Playing Hardball and Tackling Difficulties

JFMI implemented spirits of the Fifth Plenary Session of the Eighteenth CPC Central Committee, Central Economic Work Conference and spirits of series important speeches made by General-Secretary Xi Jinping and responded to requirements for disposal of zombie enterprises proposed by State-owned Assets Supervision and Administration Commission of the State Council. After Yangzhou JFMMRI Metalforming Machinery Co., Ltd. subordinated to JFMI was listed as the “zombie enterprise”, JFMI fully carried forward the spirit of assaulting fortified positions, overcoming difficulties, playing hardball and tackling difficulties, united thoughts, took responsibilities bravely and quickly established the work group, which has gone to Yangzhou JFMMRI Metalforming Machinery Co., Ltd. on August 2, 2016 to carry out the work. According to the actual situation of Yangzhou JFMMRI Metalforming Machinery Co., Ltd., the detailed work scheme was formulated. During the work, the work group put maintaining of stability, safety protection of the state-owned assets and maintaining of various parties’ legal interests as per laws in the first place all the time, took various measures simultaneously and arranged the professional lawyer team to carry out the work comprehensively, which solved the resettlement of staffs appropriately, protected safety of the state-owned assets effectively and maintained interests of the creditors to the most degree. By a series of effective disposal measures, the bankruptcy case of Yangzhou JFMMRI Metalforming Machinery Co., Ltd. was put on record formally in local court on September 6, 2016 and the work group has achieved the seamless connection with the bankruptcy administrator. In the meantime, various works of the work group were recognized and praised by local government, Company’s staffs, creditors and bankruptcy administrator.

　　At present, the economic downward pressure is still enlarging and the industry is confronted with the unprecedented difficulties and pressure. In the future work, JFMI will continue to carry forward the spirit of taking responsibilities bravely and overcoming difficulties, give full play to the motivation, initiative and creativity of all-level cadre staffs, actively lead cadre staffs to unite as one, spare no efforts to promote the continuous and sound development of the Company.