"Micro hard drive is a good project, and invested huge sums of money. The Government does not wish to put before the vanish." Guizhou Province Information Industry Department of Economic Department, the responsible person to the "First Financial Daily" said, now sued GS ongoing intensive negotiations, the Guizhou Provincial Information Industry Department stakeholders will participate in the restructuring going on, but not convenient to disclose the details now. "Likelihood of success is very high."
Transfer plan, president of Chongqing
The person referred to micro hard drives project is sued GS Shihua Co., Ltd. Micro hard drive (000920.SZ, "the sued GS"), invested heavily in Guizhou build high-tech factories. According to "Financial" reported on July 2, sued GS has closed the door. President Zhu Baoqi already submitted his resignation to the board of directors, the board has not yet passed, but still resigned away, flew to Chongqing to begin another grand plan: Chongqing "IT integrated modules."
August 2, Guizhou Province, Banking Secretary DENG Rui-lin in the "Guizhou Daily" that the end of 2005, agriculture, construction, delivery, business four commercial banks were hard to Guizhou micro loans to total 1,175 million company to produce 870 million yuan of bad loans.
It is reported that Zhu Baoqi's "IT integrated functional modules" has touched the Chongqing Municipal Government, Chongqing Hexing Jiang Yuan Technology Development Co., Ltd. (the "Hexing its source") also participated in the relevant cooperation and financing of 400 million yuan has been allowed.
However, micro hard drives in Guizhou project already trapped and so far, the project has more liabilities than assets 100 million yuan, the investment has not recovered. The introduction of magnetic sources from the company's micro hard drive technology has rapidly depreciated. Guizhou is concerned, although the ongoing restructuring efforts, but proved difficult.
Investment buried hastily hidden
In 2001, Zhu Baoqi behalf of the U.S. company's micro hard disk magnetic source project to China for development. Introduced to Zhubao Qi Hui-Jin, former chairman and sued GS roots cooperation, the establishment of GS Magicstor Technology Corporation. And the two sides reach an agreement soon: sued GS invest 81.34 million yuan, accounting for the company's total share capital of the newly established 49% to Zhu Baoqi magnetic source represented 25% of technology shares, other shareholders 26%, the company registered capital of 1.66 100 million yuan, 166 million shares of the total share capital.
But the project's technical R & D sued GS hidden so deep Hitachi hard drive "action doors." Hitachi Global Storage hard drive holds 5,000 patents, covering the hard drive technology, nothing can be said not to, if not properly designed the patent strategy, will lead to intellectual property disputes.
In addition to patents and other worries, the lack of funds is another hidden danger. In order to meet the micro-hard drive capacity expansion needs of the project, Zhu Baoqi start with the major shareholder of Guizhou Maotai Group and Yanzhou Mining Group in Guizhou Cathay Venture Capital Co., Ltd. Digital approached and reached an agreement in August 2003 established the Guizhou UWCCB micro hard drive Technology Co., Ltd., registered capital of 29.8 million U.S. dollars, from Zhu Baoqi as president.
Later, the Guizhou provincial government-led corporate restructuring and promote the merger of the two. August 2004, GS Magicstor microdrive technology and United World Chinese science and technology to complete the merger reorganization, the combined new company called United World Chinese Commercial Micro hard drive company sued GS. Registered capital of 103.4 million U.S. dollars, is the only independent intellectual property rights of the micro-hard drive business.
This item has not hurried to bring high-tech rejuvenation of poverty hope Guizhou, Guizhou and micro hard drives, how will the project's fate, too many question marks to leave the industry.