After the replacement of the restructuring party in Jiangxi Saiwei, the new reorganization plan was approved!

On January 10, 2018, Xinyu Intermediate People's Court ruled according to the voting results of the creditors' meeting, and approved the reorganization plan of Jiangxi LDK Solar High-Tech Co., Ltd. and LDK Solar High-Tech (Xinyu) Co., Ltd. and terminated the competition. The reorganization process of the two companies.

On November 17, 2015, Xinyu Intermediate People's Court ruled that the two companies were reorganized. On September 30, 2016, Xinyu Intermediate People's Court ruled to approve the draft plan for the reorganization of the two companies and terminate the reorganization process of the two companies. Later, the China Securities Regulatory Commission issued new regulations for the refinancing of listed companies, resulting in the approval of the Savi. The two company restructuring plans cannot be implemented.

In March 2017, the managers of the two companies in the company successfully consulted the creditors on the reorganization path of the two companies through creditors' meetings and written correspondence. The creditors agreed that the value of the reorganization of the two companies was greater than the liquidation value, indicating that I agree that the two companies will be transferred to the bankruptcy liquidation process. Based on this, after the demonstration of Xinyu Intermediate People's Court agreed that the two companies continued to reorganize, the manager immediately launched a new round of strategic investors to find work, and finally decided on October 18, 2017 that Hehe Energy Technology (Jiangsu) Co., Ltd. Wuhu Huarong Xinya Investment Partnership (Limited Partnership) is a new restructuring strategy investor of Saiwei Company. It is agreed that the restructuring investor will pay a consideration of RMB 1.795 billion to acquire 100% equity of Saiwei Company and will settle the price according to this consideration. The debt of the two companies.

On December 29, 2017, Saiwei Company and the Manager invited the creditors' meeting to vote on the draft reorganization plan of the two companies. The employee labor creditor group, the tax creditor group and the investor group all agreed to reorganize the draft plan and have specific property guarantee. The proportion of the creditor group and the ordinary creditor group is higher than the proportion of the same voting group's creditor's rights as stipulated in the bankruptcy law, and the proportion of the creditor's representative accounted for two-thirds of the total creditor's rights. The draft of the reorganization plan was voted by a high vote.

It is reported that according to the reorganization plan, investors will start from the "reform, increase, stop, and lead" multi-faceted, fully integrate the existing resources of the two companies to increase production capacity, reduce costs and increase efficiency. In the next few years, the company will carry out comprehensive technical upgrading and upgrading of the ingot plates of the two companies; shut down the existing mortar slicing production line and newly invest in the diamond wire production line; the battery segment will be automatically modified and new PERC battery production line will be added; And through the financial institutions or other industrial investors around the new energy industry chain, set up industrial guidance funds and mergers and acquisitions funds. Through reorganization, Savi will continue to be one of the most influential companies in the domestic PV industry. The successful reorganization of the two companies will help to promote and promote the further development of the photovoltaic industry in Jiangxi Province and even in China, which will help maintain and increase employment and contribute to social stability.

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