“Runaway boss” reflection: excessive investment, PV I “planted” on the money trail

Polaris solar PV net news: over the past 4 years, and dozens of owners in Wenzhou “run” incident, also because of insolvency more than more than 10 owner committed suicide. After 3 years, Wenzhou “running boom” landmark event two protagonist–Hu Fulin, Sun Fucai finally untied, facing Xinhua News Agency recently, Frank opened her own journey. “At that time there was a ‘ bitter ‘ knot, I do not know how to unlock it. “Hu Fulin said. Hu Fulin, Sun Fucai from strife, and nowhere to put down everything, having gone astray, reflecting changing contemporary Wen Shang to face struggling hard to credit crash reconstruction.

Crisis: at 2 o’clock in the morning the debt collector squat Office

Hu Fulin, Wenzhou glasses industry leading enterprise group Chairman. On September 21, 2011, 2 billion yuan through the body so much insolvency exodus United States, became a sensation throughout the “running boom” landmark events.

Sun Fucai, Aomi business General Manager of Zhejiang. Hu Fulin “running away” after more than 10 days, he arranged more than 300 employees of the company collectively went to Yandang mountain tourism, and then took the opportunity to “withdraw its role.” He owed the Bank and borrowing more than 260 million Yuan.

Hu Fulin said: “every day there is a another group of creditors DUN sitting in my Office, until two or three hours early this morning refused to go, banks and a finally borrowed tens of millions of dollars from private lending ‘ bridge ‘ funds collected. I’m helpless hopeless people came down, quickly get away. ”

Sun Fucai recalled: the Omega company do well with the edge of the hygienic level fluid pump valve. In previous years due to a thriving, free hand and borrowing billions of dollars to banks, expanding the scale of production. Behold 2011 country tightened, I would like to renew loans of Bank funds appeared, after a one-month delay put down. Other side of the huge, high-interest lending also was unable to return, and the interest is rolled higher, DUN, more and more people, resulting in threats of physical harm.

“My funds to collapse the chain, people were also forced by debt, was eventually forced to flee. “Heavy Sun Fucai said.

In their respective Office facing reporters, the two talk about boss tone calm. Sun Fucai continued smoking, usually a pack of cigarettes, but in the “run” of the Shanghai one month he smoke two or three packs a day; every now and then while Hu Fulin pinch severe gout in his left leg with his hand, 3 years after the reunification, he has been too busy to attend to take to hospital for medical treatment.

“It was the kind of thing, is definitely the responsibility of enterprises. “Hu Fulin said from the eyewear industry leading to excessive investment in the photovoltaic industry, though it is highly profitable but also hidden high investment risks, subsequently suffered sluggish overseas market step by step fading, PV industry as a whole, such as stacking, investment failure almost inevitable. Hu Fulin, reflection, and its fall was mostly “planted” in the absence of a good grasp of financial chain. Enterprise products, markets, profit, and prospects are very good. I am ambitious to achieve the globalization of product. To this end, the supercharged energy accelerate the speed and scale of development, built a stage and occupies 30 acres on the second stage, and excessive financing to banks and private, debt is too large the results beyond endurance.

The two “run” bosses agree that, when encouraged by the easy credit environment, the local Government has also actively encouraged them to expand capacity and diversified investment, to a certain extent excessive release “get stronger” signal, making decision-making more heat.

They complain about most is the Bank. On one hand, every bank tries hard to “work” mobilizing enterprises let go loan mortgage shortage would encourage enterprises to find security, mutual insurance. The other hand, loan interest plus a variety of additional costs, an average of about 1.5 times the benchmark interest rate times due to high funding costs. Often began to buckle in a bank loan, loan, every bank has “galvanized” due to an almost instant “bleeding”.

Private lending was also “crazy”. “A phone call, ious not playing can be borrowed tens of millions of in one day. “Hu Fulin said. Private lending offers unparalleled convenience and soaring interest rates have remained at 60% per cent per annum, some short term “turn around money” commuted annual interest rate as high as 100%. Sun Fucai said, “but then wake up and see this is a vampire, but got just can’t get rid of. ”

Reconstruction: the rest of efforts to pay off debt to regain credit

Hu Fulin, from the United States came back, local governments and the banks, courts and other departments work together to support the letter group, asset restructuring, Hu Fulin after successful introduction of strategic investors, companies are “Heroes”. “Road of Wenzhou business losses is the biggest ‘ credit ‘ and ‘ confidence ‘. “Hu Fulin said. He disclosed that in the United States during a business leader Zeng Fa information in Wenzhou said to him: “your behavior on Wenzhou entrepreneur image damage, came back as soon as possible, we can help you. “” I see tears streaming down on the spot. “Hu Fulin said that Wenzhou people doing business in the early years, clearing hundreds of thousands of dollars in cash, bag a bag to each other,” is the most valuable credit “.

Sun Fucai also believes that he can come back, is hate kids and parents walked out the door to head in the future, being neighbors stuck into my back says “they’re deadbeat.” Today, Sun Fucai successfully introduced strategic investors.

In Zhejiang Province in recent years has been recognized “the runaway tide” on the various consequences of the credit system has been severely damaged, provincial Governor Li Qiang said: “Zhejiang can pay anything imported, but credit cannot be introduced,” “runaway boss, to be brought back at all costs.” And crack down on companies “debt escape”, already is a major task of Governments and law enforcement departments at all levels.

Return of the two businessmen from Wenzhou, still saddled with debt on the shoulders, in this regard, Hu Fulin found out, he gestures with his hands, told reporters: “the past is already below sea level, every step I take is now on the rise, climbing, which makes me feel calm. ”

“I am only 40 years old, then dry ten or twenty years no problem, as long as I live, be sure to make efforts to pay off, looked up man! “Sun Fucai said.

Original title: Wenzhou “running boom” protagonist talk about running: at that time had a “bitter” knot

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