Wei Qiao Group 30 Billion Debt Ceiling, Wei Qiao Textile Market Plunged Nearly 5%
April 22nd hearing was affected by the debt problem of the parent company Wei Qiao group. 02698.HK dropped nearly 5% in early trading, and dropped 2.6% to 1.49 Hong Kong dollars as of the time limit.
On the news side, the China Securities Index recently revealed that the "16 Wei Qiao 01" implied default rate was 8.9973%, more than 7%. Previously, the same "Shandong Wei Qiao 03" and "19 Wei Qiao 01" bonds issued by the Shandong Wei Qiao aluminum and Electric Company Limited of the Wei Qiao pioneering group of the 16 were also encountered in the same situation.
According to reports, Wei Qiao group's bonds are mainly borne by two companies, namely, Shandong Wei Qiao aluminum Electric Co., Ltd. and Shandong Hongqiao New Material Co., Ltd. (hereinafter referred to as "Shandong Hongqiao"). Among them, Wei Qiao aluminum and electricity stocks are currently 6, with a scale of 15 billion 800 million yuan, and the bonds due in one year are about 6 billion yuan.
Shandong Hongqiao currently has 25 stocks of bonds, with a scale of 27 billion 131 million yuan, and the bonds due in one year are about 9 billion 500 million yuan.
Public information shows that Wei Qiao group is a large enterprise with 11 production bases, including textile, dyeing and finishing, clothing, home textiles, thermoelectric and other industries. Since 2012, he has been the top 500 in the world for many years.
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