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| Published：2020.12.19 News Sources：Qingdao Gute Ship Supplies Co., Ltd. Views： | |||
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Regroup and start again! Antong Holdings successfully restructured
At the handover ceremony, Zeng Guo, deputy head of Fengze District, Quanzhou City, was represented by the manager and Wang Jingwen, secretary of the party committee and president of Antong Holdings, came to the stage for the handover of the company's property and business affairs. At this point, Antong Holdings will shift from restructuring to operation, opening a new chapter in corporate development. Through this event, Antong Holdings delivered a new blueprint for corporate development, further releasing positive signals and boosting market confidence. As the country's first listed company with multimodal transportation as its main business, Antong Holdings started from Quanzhou, the starting point of the Maritime Silk Road, and after years of hard work, it has become the top three domestic container logistics companies in the country. In 2018, the company fell into a liquidity crisis, superimposed on the impact of adverse environmental factors such as the shipping market downturn, and the company's development fell into a trough. The dilemma faced by Antong Holdings has attracted the attention of the Quanzhou Municipal Government and Fengze District Government, and decided to resolve the debt crisis through reorganization procedures. The Fengze District Government led the establishment of a liquidation team and introduced King & Wood Mallesons with rich experience in corporate restructuring. With the completion of the reorganization plan, Antong Holdings has introduced reorganization investors with obvious advantages in corporate management, business coordination, and resource support. China Merchants Port and AVIC Trust have become important strategic coordinators of Antong Holdings. The interests of creditors, shareholders and employees of the company are protected. Zheng Shaoping, the new chairman of Antong Holdings, said that in the future, Antong Holdings will provide differentiated and high-quality services by realizing the integration of “port, shipping, and cargo”, and build an “open, smart, and win-win” platform-based business model. The society shares Antong’s logistics resources, creates new development models in traditional industries through technological innovation, model innovation, and cultural innovation, and provides customers with an overall supply chain solution integrating "logistics, trade, finance + technology". Antong Holdings currently has 93 shipping outlets, covering 179 business ports along the coast and along the river; 14 railway outlets, serving 768 railway stations; operating 68 ships with a total capacity of 1.792 million deadweight tons, of which 46 are self-owned ships and a capacity of 149.3 10,000 tons, accounting for 83.3%; 275,000 TEUs of containers were put in, and its own container volume accounted for 33%; the company's comprehensive capacity ranked 16th in the world and the top three in China. After the successful reorganization, Antong Holdings will further optimize its asset-liability structure, continue to improve its operation and profitability, and inject new development impetus into subsequent business expansion. At the meeting, based on the principle of “giving full play to advantages, mutual promotion, and long-term cooperation”, Antong Holdings cooperated with Xinyirun Supply Chain Management (Shanghai) Co., Ltd., AVIC Trust Co., Ltd., China Merchants Port (Shenzhen) Co., Ltd., and Yingkou The four partners of the Port Group Co., Ltd. signed a comprehensive strategic cooperation framework agreement to achieve multi-party strategic coordination, superiority upgrades, and a win-win future. |
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