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for 111931, many old investors just have one word: pain!

Let's look at some recent reports:

Zhongguancun continues to clean up the problems left over this year ■ china securities journal

Author: Our reporter Xu Jianjun

Zhongguancun (111931) Recently, people said that this year the company will further clean up the problems left over from history, pay off debts and guarantee, and prepare for the injection of high-quality assets by new shareholders.

this person said that the company's main business in the future will focus on real estate business and biomedical business. Among them, the real estate business covers the development of real estate in science parks, residential development and construction industry. The company has set up a real estate development department to cultivate new real estate projects, and the construction industry takes Zhongguancun Construction Company as the development platform. Biomedical business is based on its holding subsidiary Sihuan Pharmaceutical Company. In these two business directions, the company has established platform companies, and the company hopes to strengthen management and become the two major business supports of the company in the future.

in p>2117, the company will further slim down, mainly by revitalizing existing property assets to repay bank loans, and at the same time, it will further clean up the problems left over from history. The company will also actively look for new projects and accumulate a number of good project resources for the future development of the company's main business. The management of its seven holding subsidiaries will change the past practice of blindly emphasizing enlargement and market share without paying attention to income.

this person also said that this year, the company will launch a series of vertical management measures in internal management to completely change the chaos of the whole system in the past. There will be new systems in the company's financial audit system, human resources system, budget system, information disclosure system and office administration management. At present, some systems have begun to be tried out, such as the implementation of vertical management of financial systems. In addition, a clear authorization system will be established between managers at all levels within the company and between the head office and subsidiaries to make the internal management rights and responsibilities of the company clear. At present, the company is in the process of budget work, and it is expected to issue business indicators in February. The head office should sign performance contracts with each budget unit and conduct regular assessment to ensure the realization of business objectives.

regarding the risk factors currently existing in the company, relevant persons said that after the guarantee problem of 3.39 billion yuan for CDMA projects has been promised to be lifted before the end of the year, the biggest problem at present is the huge amount of bank debt and heavy financial burden, which has become a huge burden in operation; At the same time, the company's property assets have a huge amount of funds, which has not brought corresponding benefits for many years; The company still has a number of major historical issues such as guarantees, debts and lawsuits to be solved, which seriously restricts the company's new projects.

Last year, Zhongguancun successfully carried out the reorganization and share reform, and three private companies, Pengtai Investment, Yuewen Audio & Video and Haiyuan Holdings, became the top three shareholders. At the same time, the subsidiaries within each budget range have basically achieved their budget targets, and the company is expected to achieve its profit targets for the whole year, including the equity transfer of China Everbright Bank and Yunshui Mountain Villa and the reversal of losses accrued in the guarantee case of Yinguangxia. The board of directors of the company has issued a pre-profit announcement, and it is estimated that the net profit in 2116 will be between 11 million yuan and 15 million yuan.