December 15, 2016, the company announced that the company intends to Beijing subsidiary of 31 machines 100% stake 4 billion 100 million, transfer to Shenzhen 31 technology. This is the second time this year the company used "downsizing" of the divestiture, and frequently "downsizing" behind the construction machinery market is biting cold winter.
Public information shows that the transfer of 31 heavy machinery mainly to construction machinery, as of July 1, 2016, the total assets of Beijing's 31 machines about 4 billion, net assets of about 2 billion 600 million. And the company's 2015 annual performance poor, net loss of 43 million yuan.
It is the fundamental purpose to go to production capacity and revitalize non operating assets. Huaan securities analysis, the stripping non-performing assets of the company will greatly release the provision of pressure, in the past two years, the company losses of up to 580 million, the company asset structure will be optimized, the balance sheet will usher in a strong repair.
In March this year, there was a "downsizing" campaign. Stripped of the assets of the transaction is the transferee 31 technology company, transferred to the 31 group. The company has accumulated a large amount of land and factory buildings, and has suffered a net loss for two consecutive years.
At the same time, the company also played a combination of boxing, "in stripping the 31 heavy machine at the same time, plans to transfer to the 31 group two subsidiary part of accounts receivable, respectively is 31 and 31 automobile manufacturing company car lifting machinery company. GF Securities carried out an estimate, this set of "combination" invigorated the stock of assets, involving more than 10 billion of the size of funds.
One side is listed companies frequently "downsizing", and the other side is stepping up layoffs. Huaan securities analysis, by the end of 2015, the number of employees has dropped to about 31% of the peak period, and calculated that the company in the capacity reduction and downsizing of the severance pay spent pointed out that 83 million yuan higher than the forecast.
Heavy layoffs, frequent downsizing is behind the winter market construction machinery. The company is trying to adapt to shrinking market demand.
2011 is the real inflection point of the real estate industry, investment and sales down, indicating that the golden age of real estate has become the past. And construction machinery to real estate sales and investment as the main driving force, in that year into a downturn. Many enterprises in the industry into revenue, net profit double decline predicament, Sany as the leading domestic concrete machinery, but also can not escape the downturn in the market.
Machinery industry first echelon performance emergency. GF Securities in 2014 statistics of 9 representative construction machinery listed companies, their total operating income declined to about 50% of the peak period, the net profit dropped to about 20% of the peak period. In addition to Sany, ZOOMLION, there is no lack of team and Xugong Shantui and other leading enterprises.
However, as one of the enterprises that have taken the initiative to adapt to the difficult position in the industry, Sany has made efforts to strengthen capital turnover and cost control in recent years, and has achieved some success. Because construction machinery projects are usually collected at the end of the year, it is difficult to make cash flow when the profits are poor. But for the first three quarters of 2016, the net cash flow reached about 2 billion, compared with the same period in the past 5 years, has been restored to a higher level. And, despite the decline in revenue and net profit, but the company's gross margin after 2014 is picking up trend.
Fortunately, "the worst is over."".
Huaan securities in 2015 this evaluation of the construction machinery industry, and analysis, with the new measures of the new government to implement the stable, domestic marathon will gradually release the market demand, so as to promote the industry to get rid of the bottom state.
At the same time, the improvement of the monetary environment is also a good beginning. In November 21, 2014, the people's Bank of China announced that interest rates cut, as an effective means of improving real estate sales, for the upstream of the construction machinery industry indirectly promote the role.
