[原创]关于企业股份制改造
<p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">最近有人跟我询问企业上市的问题，在咨询专业人士后，发现上市最困难的和最复杂的地方是在前期股份制改造阶段，总结了部分材料，以馈家人。同时，我有些不解的地方，提出来请达人解惑。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt; TEXT-INDENT: -21pt; mso-list: l0 level1 lfo1; tab-stops: list 21.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">一、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业股份制改造的目的。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt;"><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业股份制改造是为了上市，这只是一个狭隘的目的。其实，企业股份制改造目的是要塑造现代企业制度，确立企业法人对企业的财产所有权，而更重要的目的在于：</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l3 level1 lfo2; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">1、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">重组企业产权结构。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l3 level1 lfo2; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">2、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">完成经营权与财产权的分离</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l3 level1 lfo2; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">3、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">促成企业财务、人事、经营上的独立和完成，把企业真正推向市场。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt;"><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">结果呢，目的是好的，不过执行过程中，党委书记变董事长、厂长变总裁、纪委书记变监事，结果一个样。通过一个制度改革，就要让人从即得利益中退出来，几乎是不可能的事</span><span lang="EN-US"><font face="">====</font></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">》企业股份制改造是一项无法完成的使命。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt; TEXT-INDENT: -21pt; mso-list: l0 level1 lfo1; tab-stops: list 21.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">二、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业股份制改造的一般程序。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">一、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业股份制改造要向当地体改委申请批准。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">二、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">清核并认定企业产权归属。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">三、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">设计企业改制方案，并与国资、上级主管部门沟通。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">四、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">开始清核资产和债权、债务。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">五、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业向国资管理部门申请评估立项。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">六、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">对企业进行财务审计</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">七、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">在审计报告基础上进行资产评估。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">八、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">剥离非经营性资产，妥善安置富余职工。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">九、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">资产处置</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">十、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">新股份公司股权设置和认股方案。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 42pt; TEXT-INDENT: -21pt; mso-list: l1 level1 lfo3; tab-stops: list 42.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">十一、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">新股份公司成立</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt; TEXT-INDENT: -21pt; mso-list: l0 level1 lfo1; tab-stops: list 21.0pt;"><span lang="EN-US" style="mso-bidi-font-family: 宋体;"><span style="mso-list: Ignore;"><font face="">三、</font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">企业股份制改造的难点。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l2 level1 lfo4; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">1、<span style="FONT: 7pt "";"> <font size="1">对企业产权的归属认定.. </font></span></font></span></span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l2 level1 lfo4; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face=""><span style="FONT: 7pt "";"></span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">2、 如同其他企业改制一样，首见的难点在于剥离非经营性资产和安置富余职工。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l2 level1 lfo4; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">3、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">对于改制企业各要害职能部门对原上级主管部门的脱钩。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l2 level1 lfo4; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">4、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">设计股权设置和认股方案。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 39pt; TEXT-INDENT: -18pt; mso-list: l2 level1 lfo4; tab-stops: list 39.0pt;"><span lang="EN-US" style="mso-fareast-font-family: '';"><span style="mso-list: Ignore;"><font face="">5、<span style="FONT: 7pt "";"> </span></font></span></span><span style="FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">落实股份制企业制度和信息披露制度。</span></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt 21pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p><p class="MsoNormal" style="MARGIN: 0cm 0cm 0pt;"><span lang="EN-US"><p><font face=""> </font></p></span></p><p><font face=""> </font></p><p></p>[此贴子已经被作者于2007-4-26 12:40:48编辑过] <p>谢谢楼主</p><p>我有初步的了解</p><p>希望有详细的案例</p> <p>手上这个咨询的企业还没开始介入,不好拿来研究.</p><p>拿个其他的案例看把..</p><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">一、企业改制前的基本情况</span></b><b><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></b></p><p></p><p></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司是一家具有多年纺织品生产、经营历史的国有大型独资企业。公司注册资本</span><span lang="EN-US" style="FONT-SIZE: 12pt;">10000</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">万元，下属多个分</span><span lang="EN-US" style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体;">(子)公</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">司。截至</span><span lang="EN-US" style="FONT-SIZE: 12pt;">2001</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">年底，公司总资产</span><span lang="EN-US" style="FONT-SIZE: 12pt;">7</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">亿元，年销售收入</span><span lang="EN-US" style="FONT-SIZE: 12pt;">6</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">亿元。由于市场竞争激烈及公司各项费用居高不下，当年实现税后净利润</span><span lang="EN-US" style="FONT-SIZE: 12pt;">100</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">余万元。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p></p><p></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司现有员工</span><span lang="EN-US" style="FONT-SIZE: 12pt;">10000</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">多人，其中下属分（子）公司</span><span lang="EN-US" style="FONT-SIZE: 12pt;">3000</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">余人。员工整体较为年轻，平均年龄在</span><span lang="EN-US" style="FONT-SIZE: 12pt;">35</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">岁左右，此外员工文化水平普遍不高，高中以下文化程度的员工占总人数的</span><span lang="EN-US" style="FONT-SIZE: 12pt;">75%</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p></p><p></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司由于所处行业属于国有资本逐步退出领域，故在当地政府要求下开始进行改制。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p></p><p></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">由于其在改制方案设计中存在难以克服的困难，因此</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司委托某公司重新设计并起草新的改制方案。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p></p><p></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">某公司在接受委托后马上组织人员成立咨询工作组，工作组在现场走访和广泛的沟通后了解到</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司目前主要遇到如下难点。首先，从经营状况看由于</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司处于竞争性领域且各项负担过重，</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司长年处于微利状况，公司经营班子对改制后新公司的发展信心不足。其次，从股权结构看</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司在扣除改制成本后仍留有部分净资产（经营者员工无购买能力），因此国有资本最终退出问题没有解决。最后，从持股比例看由于</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司员工众多，因此如果简单的将员工经济补偿转为改制后公司股份，员工群体将成为新公司的第一大股东，经营班子将无法实现在新公司持大股的目的。</span></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';"></span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p></p><p></p>
[此贴子已经被作者于2007-4-26 15:15:16编辑过] <span><strong>改制模式一：A公司整体改制方案<p></p></strong></span><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">设计要点——</span></b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">该方案主要内容是</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司以整体改制方式，将其由原有国有独资公司改制成由</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司经营者员工控股，国有参股的产权多元化的有限公司。在改制过程中，新注册成立的公司将承接原有</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司的全部资产、债务、权益、业务及人员。其中经营者员工因解除合同发生的经济补偿及相关费用从评估后的国有净资产中扣除。</span><span style="FONT-SIZE: 12pt;">
</span></p><span style="FONT-SIZE: 12pt;"><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">实施难点——</span></b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">该方案在实施过程中有以下两个难点：</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">首先，从股东构成看，尽管</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司改制后从原有的国有独资企业改制为股权多元化的有限公司，但由于国有资本的存在新</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司国有色彩依旧很浓。因此如何处理国有股股东与经营者、员工的利益关系是实施中的一个难点问题。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p class="MsoNormal" style="TEXT-INDENT: 24pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.0pt; mso-line-height-rule: exactly;"><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">其次，从股权比例看，由于在方案中采取员工以经济补偿折股的方式，员工将成为新公司的第一大股东，而</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司经营者团队及主要技术、业务骨干则持股比例较低，因此如何使经营者团队及骨干在新公司持大股是实施过程中应解决的另一难点问题。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><span lang="EN-US"><p></p></span></span> <p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">改制模式二：</span></b><b><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span></b><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司分立式改制方案</span></b><b><span lang="EN-US" style="FONT-SIZE: 12pt;"><span style="mso-spacerun: yes;"> </span><p></p></span></b></p><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">设计要点——</span></b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">该方案主要内容是经营者员工在将</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司全部资产、负债、权益全面承接后根据资产性质予以优化，其中以经营性资产组建的</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A1</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司承担未来发展的职能，以非经营性资产及现有土地组建的</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A2</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司承担公司富余人员、离退休人员的安置职能。需要指出，由于分立前</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司已经由经营者员工全部承接，因此今后</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A2</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司的运营费用将主要来自土地租赁收入及</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A1</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司在各方面的支持。</span></p><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';"><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">方案特点——</span></b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">本方案的最大特点是经营者员工在承接全部资产后根据</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司的资产性质重新对其进行整合和优化，将</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司一分为二。其中以经营性资产为主成立</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A1</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司，以非经营性资产为主成立</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A2</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司。</span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></p><p class="MsoNormal" style="TEXT-INDENT: 24.1pt; LINE-HEIGHT: 25pt; tab-stops: 112.0pt; mso-char-indent-count: 2.0; mso-char-indent-size: 12.05pt; mso-line-height-rule: exactly;"><b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">实施难点——</span></b><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">在本方案中，由于资产的分割从公司整体角度看是没有实质变化的，因此</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A1</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司如何在保证自我发展的前提下维持</span><span lang="EN-US" style="FONT-SIZE: 12pt;">A2</span><span style="FONT-SIZE: 12pt; FONT-FAMILY: 宋体; mso-ascii-font-family: ''; mso-hansi-font-family: '';">公司存续是本方案的主要实施难点。</span><b><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span></b></p></span><span lang="EN-US" style="FONT-SIZE: 12pt;"><p></p></span> <p>这个案例不是改制上市的,而是国退民进的,牵涉到国有资产退出,所以比较复杂点.</p> <p>学习学习</p> 还有其他案例么？
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