XCMG will inject energy assets three joint venture company has its own advantages
Recently, Xugong in energy assets, the controlling shareholder of the company intends to Xuzhou Xugong Co. Hirschmann Electronics Co. Ltd and Xuzhou Patel Control Technology Co. Ltd., Xuzhou axle company 3 strong profitability of the company into xugong. In addition, XCMG intends to purchase all the equity of Xugong Foundation Construction Machinery Co., Ltd., thus further enhancing the profitability of listed companies.
In the near future on a series of capital operation of Xugong, as the controlling shareholder without the burden of the company transferred to the listed companies, but to allow the acquisition of listed companies earning assets. Analysts believe that the Department of XCMG limited efforts to maintain the growth of listed companies, in the "willing" between the controlling shareholder's responsibility.
Three joint venture companies have their own advantages
According to previous announcement, August 2009, during the Xugong major asset restructuring, XCMG limited had promised, in Xuzhou, Xuzhou Hao Rothman Patel, etc. the profitability of the 5 axle joint venture strong under the premise of the joint venture company will invest in the appropriate time into Xu machinery. At present, Xuzhou Hao Rothman and other 3 companies have commitment to comply with conditions, namely high asset quality, strong profitability; therefore, the company decided to buy xugong.
Public information, Xuzhou Hirschmann electronic limited company is by the German Hirschmann and Xugong Group joint venture, Xuzhou is in Germany he thought man Hirschmann department, the world's largest mobile Hirschmann mechanical control system R & D and production base, with German synchronization products and technology. With rich experience in application development, professional technical team, nationwide sales and service outlets, including service in XCMG, Zoomlion, Zhenhua, Liugong and other hundreds of China partners.
Xuzhou Patel is a Canadian company IRD and Xugong joint venture, founded in 1993, based on the weighing system technology and key parts of the road with the world advanced level in the IRD company to introduce the development and manufacturing of high and low speed road dynamic weighing system. Since Xuzhou pat introduced since 2000 PAT brand bending plate weighing system, share the products in the domestic market has remained above 70%.
Axle was founded in July 1, 1996, is the largest construction machinery and special vehicle axle China professional production enterprises, jointly set up by the United States and Xugong Meritor company. The total investment of the company is 24 million 87 thousand US dollars, the registered capital is 16 million 803 thousand US dollars, and there are nearly 1000 employees, including more than 100 engineers and technicians. Axle as an engineering machinery and special vehicle axle specialized production enterprises, the main products include automobile crane, loader, road bridge bridge bridge, construction machinery axle and other four major categories of 300 kinds of bridge.
The data further show that the first quarter of this year, Xuzhou pat achieved operating income of 3363 million yuan, net profit 148 million; Xuzhou Hirschmann achieved operating income of 5963 million yuan, net profit 1472 million. In addition, the first quarter of this year, holding time operating income 218 million yuan, accounting for 32.22% of revenue last year, net profit of 9 million 680 thousand yuan last year, a loss of momentum.
For the injection of the three assets, Xugong that help companies build more perfect product line engineering machinery parts, make full use of the company unified procurement platform, sales channels, reduce the target company's procurement cost and the cost of sales, is conducive to further enhance the company's profitability. In fact, in enhancing the profitability of listed companies, Xugong machinery also has a good news.
Get rid of the bad fortune of high quality assets
It is understood that, in order to improve the industrial chain company, plans to buy Xuzhou Xugong Xugong foundation engineering machinery limited company all the shares, the Xugong foundation currently holds 100% stake in Xugong co..
From the operating situation, the Xugong foundation in the first quarter of this year to achieve operating income 657 million yuan, accounting for 40% last year; net profit of 51 million 920 thousand yuan, more than half of last year. Therefore, the "Xugong foundation" of the quality of the assets acquired, the listed companies that help the company to further improve the product line, the company's current and future financial condition and operating results will have a positive impact.
An understanding of the Xugong foundation market sources told reporters that the Xugong Xugong Group is based on the professional development of piling machinery, non excavation machinery, coal mine machinery subsidiary business scale of nearly 1 billion 500 million. At present, with the Xugong foundation piling machinery, non excavation machinery, coal mine machinery three kinds of high-tech products the company technology center was identified as Jiangsu Province Engineering Research Center, many of the products won the provincial science and technology progress award, national machinery industry, in 2011 the company successfully passed the provincial identification of high-tech enterprises, "the large-scale intelligent Trenchless Directional Drilling Rig R & D and industrialization smoothly through the national torch project. Products have been exported to South America, Central Asia, Africa and so on nearly 20 countries.
To be the Xugong foundation into the listed company, Xugong intends to cash to buy one hundred percent stake in the listed company or show strong bullish on Xugong foundation, also shows that the current financial structure of listed companies is steady, smooth financing channels, the overall solvency is extremely strong.
It is worth noting that in the usher in a finite number of assets into the controlling shareholder XCMG XCMG Limited has at the same time, the "good faith" in breach of contract, and no to continue the implementation of Mining Machinery Co. Ltd., Xugong Xugong construction machinery leasing company into the company's commitment. In fact, XCMG has been in low margin products digging machine, balance situation of high, and leasing companies currently weak profitability, higher business risk.
