Ordos subsidiary plunged into crisis

A few days ago, it was reported that the Xinyi Real Estate Subsidiary developed by Ordos had borrowed money everywhere and subsequently broke the capital chain, and used assets such as real estate and farmers' markets as a way to pay off debts. Ordos Group has failed to give a positive response to this incident.

With regard to Ordos Group's 90% shareholding in Erdos Real Estate Development Co., Ltd. in Xinyi, where local fund-raising and the capital chain were broken, many people from the Ordos Group could not respond this morning.

An insider of the company stated that this was a matter last year, and the reporter’s response to another department responsible mainly for field operations was that the leaders had traveled. The acts of the Ordos Group leaders that they deliberately avoided many times have been questioned.

The Erdos Group, with total assets of over 34.1 billion yuan, is located in Dongsheng District, Erdos City. It has 126 member companies and more than 26,000 employees. It is understood that the group's annual sales income will reach more than 20 billion yuan, and the company's cashmere products will have a production and sales capacity of more than 10 million, accounting for 40% of China and 30% of the world.

At present, Ordos has several major business segments. The first is its core segment --- cashmere products processing. There are more than 3,000 stores in its marketing department, and the revenue of the textile and apparel segment will reach 100 billion yuan in the next five years.

The chessboard well circular economy block characterized by circular economy is another major business of the Group. The group has completed a total investment of more than 20 billion yuan in the Qipanjing Park. The main products and production capacity are: 4.5 million tons of raw coal mining and washing, 600,000 tons of coking, 1.81 million kilowatts of power installed capacity, 1.2 million tons of ferroalloy products, 1.2 million calcium carbide Tons, urea 1.1 million tons, polysilicon 3,000 tons, water supply 30 million tons.

In addition, the new energy sector with coal chemical industry as the core is the focus of the Group's future development. It has invested 33 billion yuan to build an annual output of 40 million tons of raw coal, 40 million tons of raw coal washed, 60 million tons of coal shipped, 10 million tons of green injection material, and 1 million tons of clean fuel oil.

For real estate business, the group also nurtured the process.

At present, the Ordos Group's 15 projects, including Shanghai, Zhongshan, Hohhot and Ordos, with a development area of ​​6 million square meters, are in progress.

Despite the large number of real estate developments in Ordos, the Ordos Group has never been able to give a positive response to the fact that Xinyi, a real estate subsidiary, borrowed money everywhere and subsequently broke the capital chain and used assets such as real estate and farmers' markets as a means of debt repayment. The shareholdings of Erdos Group and Jinxunhua New Ordos Real Estate Company were 90% and 10%, respectively. However, this minority shareholder served as the company’s chairman and general manager and controlled the company. This is difficult to understand.

According to Xinyi locals, after the real estate company was in crisis, they did not find that the Ordos Group had sent people to deal with this matter, nor had they heard that the Erdos Group had contributed to the rescue, but let it go.

A number of creditors also stated that since September last year, the progress of debt liquidation has mainly been achieved by looking at the announcement of the sales office of the new city of Ordos Real Estate, which is located in the real estate city's Garden Sales Office. There are no people from the Ordos Group to come to them. contact.

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