Recently, the General Office of the National Development and Reform Commission issued the "Notice on Printing and Distributing the Second Batch of Typical Cases of Revitalizing Stock Assets and Expanding Effective Investment" to publicize and promote 25 typical cases across the country. The bankruptcy and reorganization project of foreign assets in Dalian Changxing Island Economic and Technological Development Zone was successfully selected.

Effectively revitalizing existing assets and forming a virtuous circle of existing assets and new investment is of great significance for improving the level of infrastructure operation and management, broadening social investment channels, rationally expanding effective investment, reducing government debt risks and corporate debt levels. The typical cases selected by Changxing Island this time are mainly to revitalize existing assets and expand effective investment through "mergers and acquisitions". The existing assets revitalized by this project are assets held by STX (Dalian) Shipbuilding Co., Ltd.

STX Dalian Group has suffered serious losses since 2012 due to various factors at its Korean headquarters. After that, 13 companies including STX (Dalian) Shipbuilding, Heavy Industry, Ocean Heavy Industry, and Engine have successively filed for bankruptcy and reorganization. STX (Dalian) Shipbuilding Co., Ltd. entered bankruptcy proceedings in 2013. For many years, the base has been idle, and it has organized many auctions without success, resulting in a large number of idle assets and waste of resources. In July 2022, Hengli Group won the bankruptcy assets through foreclosure. After changing the ownership of the assets, it was installed into Hengli Heavy Industry Group, a wholly-owned subsidiary, to realize the reorganization of property rights and revive the factory area that had been sleeping for ten years and was overgrown with weeds. Hengli Heavy Industry has revitalized STX's idle assets and started the construction of high-end shipbuilding and equipment manufacturing industrial parks, which is of great strategic significance for the industrial upgrading of Changxing Island, Dalian and even Liaoning, and the cultivation and expansion of new kinetic energy. Since it was put into production, Hengli Heavy Industry Group has accelerated its goal of becoming a world-class shipbuilding enterprise with rapid development momentum.

According to reports, the project has the characteristics of revitalizing large-scale assets, releasing the production capacity of existing assets, and maintaining the overall social stability. The bankruptcy assets of the project are large in scale, involve many business sectors, and have a long idle time. After Hengli Group won the assets, it gave full play to its advantages of "industry + finance" and achieved effective revitalization through asset restructuring, personnel restructuring, technical restructuring and additional investment, so as to avoid long-term idleness and continuous derogation of assets; The project gives full play to the technical and operational capabilities of leading private enterprises, and the newly established Hengli Heavy Industry Group has been fully operational in January 2023; The project solved the salary, social security and subsidies owed by the original enterprise to employees, and maintained regional social stability. In the process of project revitalization, Changxing Island carried forward the work style of daring to gnaw hard bones and being good at fighting tough battles, taking optimizing the business environment as a breakthrough, providing extraordinary, fast and accurate services, and going all out to promote project revitalization, running out of the "new speed of Changxing Island", providing a new example of optimizing the business environment.