52 Listed Companies Put 16 Billion "Usury" &Nbsp, The Highest Annual Interest Rate Of 21.6%.

In the tide of universal lending, the group of listed companies has turned to "

Based on public data, market institutions released 112 A share listed companies from 1 to June in 2011. "

Among them, the one-year interest rate of Zhejiang enterprise and enterprise is 21.6%, which is 3.42 times the bank loan interest rate of 6.31%.

This is also the highest A share listed company. "

Zhejiang University professor Shi Jinchuan said that many listed companies involved in usury will raise the cost of social financing, and there is a potential threat to the real economy.

Between 1 and July this year, 14447 small and medium-sized enterprises in Zhejiang were closed down due to problems such as capital chains.

52 listed companies compete for 16 billion usury.

Entrusted loans have become a new financing way for many enterprises.

According to the central bank statistics, RMB loans increased by 4 trillion and 170 billion yuan in the first half of this year, 449 billion 700 million yuan less than that of the previous year, and entrusted loans increased by 702 billion 800 million yuan, an increase of 382 billion 900 million yuan compared with the same period last year, an increase of nearly 120%.

Among them, involving 52 listed companies and 112 "entrusted loans", the total amount of loans exceeded 16 billion yuan, an increase of nearly 38% over the same period last year.

According to incomplete statistics from the newspaper, in recent three years, the annual lending rates of listed companies are 40, 86 and 90 respectively, with the annual interest rate rising from 6% to 20% or even higher today.

For example, in January this year, Xiang Yi Rong borrowed 50 million yuan from its own capital to loan to the Oriental dragon, with a term of one year and an annual interest rate of 21.6%. In June 3rd, it offered loans to Nantong Mai Xiang for 55 million yuan, and the interest rate for one year was 21.6%.

For many years, it has been keen on lending.

In 2008, it issued a one-year trust product through the Construction Bank to obtain 300 million yuan, and the loan interest rate was 7.47%. Subsequently, it extended 100 million yuan to Jiaxing Guangyuan Real Estate Development Co., Ltd. for a period of 1 years, and the entrusted loan interest rate was 18%.

Once in and out,

Reporters noted that every loan entrusted by the company has real estate or equity interest of the developer, which makes the listed companies more secure in entrusting loans.

However, the real estate industry, which is caused by regulation and control, leads to fund shortage.

"The interest rate of entrusted loans is more than 20%, which is difficult for the general manufacturing enterprises to bear, but the real estate enterprises dare to borrow."

A state-owned bank said that the bank charged 0.3% of the handling fee, the finance company got about 5% of the handling fee, and the real estate business got 12% annual life saving loan.

It is precisely under the temptation of high returns that many listed companies compete to lend.

Zhejiang Shenghua company (600226) has recently been exposed to "ignoring environmental protection failure, the subsidiary has been illegally put into operation for more than five years", but last year it provided 3 companies with a total of 150 million yuan entrusted loans.

By June this year, Limited by Share Ltd, the borrower, was paying 50 million yuan and interest on loans.

In accordance with the agreed loan period of 12 months and 14.4% annual interest rates, the sum of money earned by the company is 7 million 200 thousand yuan, accounting for 10% of the net profit in the first half of 2011.

What is more, many companies entrust loan income to close or exceed the main business.

In January of this year, Qianjiang biochemical (600796) entrusted loans to 150 million yuan, the annual interest rate was 20%, the interest income in one year was about 30 million yuan, and its net profit in the first quarter was only 13 million 690 thousand yuan. Wuhan Jianmin (600976) has been lending 150 million yuan this year, the annual interest rate is 20%, the annual interest income is 30 million yuan, and its net profit in the first half is only 36 million 200 thousand yuan.

In the first half of the year, Dongfang communications (600776) granted loans to several enterprises 340 million yuan, with an average interest rate of 11% and an annual income of 37 million yuan.

Its net profit last year was only about 98000000 yuan, less than 26 million yuan in the first quarter of this year, and the main industry's yield was only 4%.

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The net profit of last year was 145 million, while the usurious loan of more than 300 million yuan contributed 69 million 940 thousand interest income, accounting for 48% of the total profit.

Of the total assets of 2 billion 50 million, more than 1 billion contributed by assets such as entrusted loans and pawnage funds.

Insiders say, in fact, many companies, for the sake of high yield, take advantage of the gold lettered signboard of listed companies, get relatively low interest rate loans from banks, and then issue entrusted loans at higher interest rates, and earn profits from them.

Looming risk of lending

Some worrying signals are being released.

In January of this year, the essence of VIC made a loan of 150 million yuan to a real estate developer in Shaoxing, with a term of 6-12 months, with an annual interest rate of 14.4%.

In August 2nd this year, because of the serious capital chain problem, the local government dispatched a special task force for this purpose. At present, the related debt and debt are still in the process of disposal.

Xiang Yi Tong has also been deep in mud.

In 2008, Zhejiang's leaps and bounds group and Nan Wang Group and other private enterprise chains tightened, and the pawnshop of the company had paid 60 million yuan to the leaping pawnshop and 70 million yuan to the South pawnshop.

In June 25, 2010, the loan to Hangzhou modern Associates Investment Company was 71 million yuan one year loan, which was overdue.

By May 3rd this year, the claim was pferred to Hangzhou Tian to trading company for 78 million 868 thousand and 700 yuan.

Recently, a similar economic dispute has emerged in Shanghai.

A real estate company received a loan of 150 million yuan through the entrusted loan, with an annual interest rate of 12%. After that, there was a problem in the capital chain of the borrowing enterprise, which could not repay the loan.

In addition, a number of listed companies such as Guangdong electric power and Rhine real estate have also announced the renewal of entrusted loans, with the extension period ranging from 6 months to 1 years.

Insiders analyzed that after the maturity of the entrusted loan, the overdue or extended period did not exclude the problem of the repayment ability of the loan company.

All these risks are committed by the issuing banks themselves, and the interests of shareholders of listed companies will obviously have hidden dangers.

"A large number of bank loans will expire in the second half of this year, which will cause great pressure on the capital chain of enterprises. We have been afraid to release loans, and entrusted loans may also be contagious by risks."

A city businessman in Zhejiang said.

Shi Jinchuan, a professor at Zhejiang University, points out that the participation of Listed Companies in usury may not only cause the entity industry to despise the main business or even neglect the main business, but also greatly raise the cost of social financing.

And the high cost and high financing cost are all small and medium enterprises that are difficult to finance and difficult to finance. This is a more fatal blow to SMEs.

But when the listed companies' "spare cash" spillover, many small and medium-sized enterprises in Zhejiang are closing down.

In August 27th, Lou Zhiming, deputy director of the Zhejiang Provincial Commission for information and communications, revealed on the 2011 third party financial services forum that this year the SMEs were extremely unhappy. The cost of enterprises in the 1~7 months increased by 10% compared with the same period last year, while the factory factory prices rose only 6.2%, and 14447 small and medium-sized enterprises failed to support them.