锦州银行披露对汉能的风险敞口

 　　A Chinese city bank planning on listing in Hong Kong has indicated it has more than $440m in exposure to Hanergy Group debt, in the first case of a Chinese bank detailing its exposure to the embattled thin film solar company.

　　计划在香港上市的中国城市银行锦州银行(Bank of Jinzhou)披露，该行对汉能集团(Hanergy Group)债务有逾4.4亿美元风险敞口。这是首次有中资银行详细披露对这家陷入困境的太阳能薄膜企业的风险敞口。

　　Shares in Hanergy’s Hong Kong listed unit were suspended in May after a spectacular half-hour plunge¹. Although the company’s founder² Li Hejun had pledged Hanergy shares as well as a hydropower dam and other assets in China as collateral³ for loans, no Chinese institution has yet publicly confirmed it has outstanding loans to Hanergy or Mr Li.

　　今年5月，汉能在香港上市的公司的股票在半小时内出现戏剧性的暴跌，随后被停牌。尽管汉能创始人李河君曾将汉能股票、一座水电站及其他在华资产作为抵押品来申请贷款，但迄今还没有哪家中国金融机构公开确认自己有对汉能或李河君的贷款余额。

　　Mr Li has called the share suspension a “disaster” for his company — Hanergy has fired thousands of employees. The Financial Times this year detailed⁴ Hanergy Group’s reliance on high-interest shadow banking⁵ loans and a high level of related transactions between the parent company and the listed unit.

　　李河君称汉能股票停牌对他的公司来说是场“灾难”。汉能已解聘数以千计的员工。英国《金融时报》今年曾详细报道过汉能集团对高息影子银行贷款的依赖，以及其上市子公司与母公司之间存在大量关联交易。

　　Bank of Jinzhou, based in northeastern China’s Liaoning Province, said on page 10 of its IPO prospectus⁶ released this month that it had Rmb9.46bn in exposure as of the end of June to a “relevant group borrower” through beneficial interest transfer plans and investment in the borrower’s debt instruments. Although it did not name the borrower, a document issued by the bank in March lists investments in those types of instruments issued by Hanergy Group.

　　锦州银行总部位于中国东北的辽宁省。该行在本月公布的招股书的第10页表示，截至6月底，该行通过受益权转让计划及对借款方债务工具的投资，对某“相关集团借款方”有94.6亿元人民币的敞口。尽管该行并未点出这一借款方的名字，但该行3月份公布的一份文件列出了其对汉能集团发行的上述类型投资工具的投资。

　　“Since May 2015, according to public information, the Relevant Listco has been under investigation⁷ by the SFC and, as of the Latest Practicable Date, the trading of its shares was suspended, causing uncertainty⁸ over the value of the Relevant Listco shares pledged to our Bank as collateral,” Bank of Jinzhou said. Bank executives could not be immediately reached for comment.

　　锦州银行表示：“自2015年5月起，相关上市公司一直被证监会调查，其股份被暂停买卖，导致本行做抵押品的股份的价值存在不确定风险。”记者无法立刻联系上该行高管请其置评。

　　The prospectus said the bank had reduced its credit risk via early payment of some debt, transfer of some of the investments to two other Chinese financial institutions, and hedging, or collateralisation of the rest, but still had a net credit risk exposure of Rmb2.77bn.

　　该行招股书称，该行已通过令汉能提早偿还部分债务、将部分投资转让给另两家中国金融机构、以及对其余债务进行对冲或要求抵押品，降低了其信贷风险。不过，该行信贷风险敞口净额仍有27.7亿元人民币。

　　Beneficial interest transfer plans are a way to classify loans to trust companies as an investment. Financial analysts⁹ say Bank of Jinzhou, which is formed from several local financial institutions, is among the most active of Chinese local banks in booking the instruments.

　　受益权转让计划是一种将对信托公司的贷款归类为投资的办法。金融分析师表示，由多家地方金融机构组建的锦州银行，是对这类工具订购最积极的中国地方性银行之一。

　　Baota Petrochemical Group, a private refining and petrochemicals group based in the desert region of Ningxia, and its controlling shareholder¹⁰ together control nearly 23 per cent of Bank of Jinzhou. Baota earlier this year agreed to buy equipment and services from Hanergy Thin Film for $1.32bn, in return for shares in the solar equipment supplier, However, in July, Hanergy said Baota had not confirmed it would go ahead with the deal.

　　宝塔石化集团是一家总部位于宁夏荒漠地区的民营炼油和石化集团。该集团控股股东总计持有锦州银行近23%的股份。今年早些时候，宝塔集团同意斥资13.2亿美元从汉能薄膜发电(HTF)购买设备和服务，以换取这家太阳能设备供应商的股份。然而，汉能在7月份却表示，宝塔集团并未确认会继续这一交易。

　　A Bank of Jinzhou representative had declined to comment on a reported line of credit extended to Hanergy when Chinese media first reported the exposure in May.

　　今年5月，当中国媒体首次报道锦州银行对汉能的这一敞口时，该行的一名代表拒绝就报道中提及的该行提供给汉能的信贷额度置评。

1 plunge   

v.跳入，(使)投入，(使)陷入；猛冲

参考例句：

• Test pool's water temperature before you plunge in.在你跳入之前你应该测试水温。
• That would plunge them in the broil of the two countries.那将会使他们陷入这两国的争斗之中。

2 Founder   

n.创始者，缔造者

参考例句：

• He was extolled as the founder of their Florentine school.他被称颂为佛罗伦萨画派的鼻祖。
• According to the old tradition,Romulus was the founder of Rome.按照古老的传说，罗穆卢斯是古罗马的建国者。

3 collateral   

adj.平行的；旁系的；n.担保品

参考例句：

• Many people use personal assets as collateral for small business loans.很多人把个人财产用作小额商业贷款的抵押品。
• Most people here cannot borrow from banks because they lack collateral.由于拿不出东西作为抵押，这里大部分人无法从银行贷款。

4 detailed   

adj.详细的，详尽的，极注意细节的，完全的

参考例句：

• He had made a detailed study of the terrain.他对地形作了缜密的研究。
• A detailed list of our publications is available on request.我们的出版物有一份详细的目录备索。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 prospectus   

n.计划书；说明书；慕股书

参考例句：

• An order form was included with the prospectus.订单附在说明书上。
• The prospectus is the most important instrument of legal document.招股说明书是上市公司信息披露制度最重要法律文件。

7 investigation   

n.调查，调查研究

参考例句：

• In an investigation,a new fact became known, which told against him.在调查中新发现了一件对他不利的事实。
• He drew the conclusion by building on his own investigation.他根据自己的调查研究作出结论。

8 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

9 analysts   

分析家，化验员( analyst的名词复数 )

参考例句：

• City analysts forecast huge profits this year. 伦敦金融分析家预测今年的利润非常丰厚。
• I was impressed by the high calibre of the researchers and analysts. 研究人员和分析人员的高素质给我留下了深刻印象。

10 shareholder   

n.股东，股票持有人

参考例句：

• The account department have prepare a financial statement for the shareholder.财务部为股东准备了一份财务报表。
• A shareholder may transfer his shares in accordance with the law.股东持有的股份可以依法转让。