原董事长赵伟国被判死缓，紫光集团破产重组后如何“求生”？

Core Viewpoint - The article discusses the downfall of Unisplendour Corporation, highlighting the legal issues faced by its former chairman Zhao Weiguo, the company's financial troubles, and the ongoing challenges in restructuring and managing its vast array of subsidiaries [1][5][6]. Group 1: Legal Issues and Financial Misconduct - Zhao Weiguo, the former chairman of Unisplendour, was sentenced to death with a two-year reprieve for embezzlement and other crimes, including causing significant losses to the state [1][5]. - The court found that from 2014 to 2021, Zhao misappropriated state assets worth over 470 million yuan and caused losses of approximately 890 million yuan to the state [5]. Group 2: Company Growth and Debt Crisis - Under Zhao's leadership, Unisplendour expanded rapidly through acquisitions, increasing its assets from 1.3 billion yuan to 297.8 billion yuan between 2013 and 2019 [2]. - However, by late 2020, the company faced severe liquidity issues, failing to repay loans and bonds totaling over 10 billion yuan, leading to substantial debt defaults [3][4]. Group 3: Restructuring Efforts - Following Zhao's exit, Tsinghua Holdings initiated a debt risk resolution team, revealing that Unisplendour's asset value was approximately 121.5 billion yuan against debts of about 137.6 billion yuan, indicating insolvency [4]. - In July 2022, Unisplendour completed its asset restructuring, with a new strategic investor taking over 100% of the company's shares [7]. Group 4: Current Performance and Challenges - Despite restructuring, Unisplendour's subsidiaries, such as Unisplendour Co. and Unisplendour Guowei, continue to face significant operational challenges, with revenue and net profit declining in 2024 [8]. - Unisplendour Co. reported a revenue of 79.02 billion yuan, a year-on-year increase of 2.22%, but a net profit decline of 25.23%, while Unisplendour Guowei's revenue fell by 27.26% [8].