Shenyang Machine Tool (Group) Co., Ltd. (hereinafter referred to as Shenji Group), the largest domestic machine tool manufacturer, will be reorganized by central enterprises.
On January 14, Shenyang Machine Tool Co., Ltd. (hereinafter referred to as Shenyang Machine Tool, 000410.SZ) announced that it had received a letter of notification from the controlling shareholder Shenji Group on the 13th, and the Shenyang Municipal Government and China General Technology (Group) Holdings Limited Liability The company (hereinafter referred to as China General Technology Group) signed the "Framework Agreement on Strategic Restructuring of Shenyang Machine Tool (Group) Co., Ltd.".
The announcement said that the Shenyang Municipal Government and China General Technology Group will jointly promote the comprehensive reform of the Shenji Group with the support of the eight ministries and the Liaoning Provincial Government.
China General Technology Group is a state-owned key enterprise directly managed by the central government. Its three core businesses are advanced manufacturing and technical service consulting, medical health, trade and engineering contracting.
According to the measures, the company will establish a standardized and market-oriented corporate governance structure and organizational structure, focusing on advanced equipment manufacturing through measures such as reform and restructuring and thorough resolution of historical issues.
In December 1995, Shenji Group reorganized the assets of Shenyang First Machine Tool Plant Shenyang First Machine Tool Plant, Shenyang Second Machine Tool Plant (Zhongjie Friendship Factory) and Liaoning Precision Instrument Factory. The main production base is in Shenyang. Kunming and Arthurs Reben of Germany, the listed platform is Shenyang Machine Tool. Shenyang State-owned Assets Supervision and Administration Commission is the major shareholder of Shenji Group, holding 65.31% of the shares.
Since the fourth quarter of last year, the Shenyang machine tool, which is the leading domestic machine tool, has been trading at more than 6 yuan, which is 85% lower than the 40 yuan with the best stock price.
Shenyang Machine Tool was launched in 1996. In 2013, its operating profit began to lose money; in 2015, its net profit suffered a loss of 640 million yuan; the loss in 2016 expanded to 1.437 billion yuan. In May 2017, “People wears a hat†– due to two consecutive years of losses, the stock abbreviation was renamed “*ST sinking machine†by “Shenyang Machine Toolâ€.
In 2017, Shenyang Machine Tool achieved operating income of 4.189 billion yuan, down 32.91% year-on-year; realized net profit attributable to shareholders of listed companies of 118 million yuan, up 108.39% year-on-year, turning losses into profits, and lifting the risk of delisting in 2018.
This was mainly due to the signing of the “Shipment Agreement between Shenyang Machine Tool Co., Ltd. and Shenyang Machine Tool (Group) Co., Ltd. Assets Sale†by Shenyang Machine Tool and the controlling shareholder Shenji Group, to transfer some non-“i5 strategy†business assets and liabilities. The Shenji Group was given and the Creditor's Rights and Exemption Agreement was signed with the supplier, which eased the financial pressure and lowered the debt ratio.
In the first half of 2018, Shenyang Machine Tool earned RMB 25 million, but it turned negative again in the third quarter. According to the report released in the first three quarters of 2018, Shenyang Machine Tool realized operating income of 4.205 billion yuan, a year-on-year increase of 33.32%; net profit attributable to shareholders of listed companies was -175 million yuan, and the company's earnings per share was -0.23 yuan.
Shenyang Machine Tool said that the reason for the loss in the first three quarters of 2018 was that since the second quarter of the year, due to the macro environment, especially the financial environment, the company's sales revenue has dropped significantly, and financing costs have increased.
As the "mother of industry", the machine tool industry is directly related to the manufacturing level. In recent years, China's machine tool industry has begun to reshuffle in the context of the constant demand in the domestic aerospace, power equipment, construction machinery and automotive industries. Not only Shenyang machine tools, but also a number of machine tool companies have a crisis.
In November 2017, Dalian Machine Tool Group was convicted and reorganized by the court, directly linking its peer creditor Huazhong CNC (300161.SZ), and Huazhong CNC's 2017 non-net profit loss was 32,479,500 yuan.
Qinchuan Machine Tool (000837.SZ), which ranks second in the industry in terms of revenue, has a negative net profit for three consecutive years since 2015; Qinghai Huading (600243.SH), which is ranked in the middle reaches of the industry, is also losing money. year.
This is mainly because the domestic machine tool industry is experiencing the pain caused by the contradiction between supply and demand, the overcapacity of low-end CNC machine tools, and the shortage of high-end CNC machine tools.
According to the statistics of the Prospective Industry Research Institute, the demand for high-end CNC machine tools in China increased from about 10% to 15-20% in 2013-2017, but the localization rate of high-end CNC was only from 2 in the past five years. % increased to 6%, and most high-end CNC machine tools still rely on imports.
According to Shenyang Machine Tool, at present, China's machine tool industry urgently needs to rebuild and integrate with new methods and new paths, optimize industrial layout, highlight high-quality development, and form a new pattern of independent leading, clear division of labor, and focus on the main business. Equipment China.
The implementation of the framework agreement for the restructuring of the Hirakata Group and China General Technology Group is subject to the procedures of state-owned assets approval.
As of the same day, Shenyang Machine Tool reached a daily limit, closing at 7.01 yuan / share, the stock price returned to more than 7 yuan.
It is SINOFUJI's concern that the Bushing Cover made by traditional manufacturing process, had been presented that the appearance is almost irregular, the dimension consistency is poor, and the insulation performance is unsatisfied.
While SINOFUJI bushing cover with new molding process presents kinds of advantages:
- Superior performance of aging and electrical insulation.
- regular appearance and accurate consistency in dimensions.
- Could be easily met with personalized design with high production efficiency.
- High material utilization thus total cost is lower than that of traditional process.
- In the cater for requirements of all kinds of special and complex shape thus to expand application scope of this products.
- It is environment friendly cause the cutted raw materials in the manufacturing process can be recycled for production use.
Bushing Cover
Wire Clamp For Insulation Cover,Insulated Cover For Wire Clamp,Animal Outage Protection,Cable Protection Bushing Cover
ShenZhen FUJI Electric Material Co., Ltd , https://www.sinofuji.com