Abstract The disclosure period of the semi-annual report of the machine tool listed company in 2014 is concentrated in the second half. According to the data, the company achieved operating income of 160 million yuan, down 36.54% year-on-year. The net profit attributable to shareholders of listed companies was -291.77 million yuan, a loss compared with the same period last year...
The disclosure time of the semi-annual report of the machine tool listed company in 2014 is concentrated in the second half. According to the data, the company achieved operating income of 160 million yuan, down 36.54% year-on-year. The net profit attributable to shareholders of listed companies was -29.77 million yuan, which continued to expand compared with the loss in the same period last year. In the same period, Kunming Machine Tool lost RMB 38,537,100, and the loss range narrowed slightly year-on-year. According to the National Bureau of Statistics, in the first half of this year, the loss-making enterprises in the machine tool industry accounted for 13.8%, and the losses of China's holding companies accounted for 41.8%. Among the eight sub-sectors, the largest loss is metal cutting machine tools, accounting for 24.7% of loss-making enterprises, and its holdings in China accounted for 50.8% of losses.
The loss-making enterprises in the key contact network of the Machine Tool Association accounted for 38%, of which 45.5% were gold cutting machines and 18.2% were forming machines.
Increased pressure
In the market adjustment of the machine tool industry in the past two or three years, there is no expectation that the market will pick up.
As one of the leading domestic machine tool industry, the development of Qinchuan is representative. According to an analysis report of the company, the market trend of the company's leading machine tools is difficult to reverse, the income structure has undergone major changes and the profitability has fallen sharply.
After the market adjustment in the past two years, the domestic machine tool industry is expected to show “recoverable growth in 2014, but the growth rate is not large, and the market is stable and solidâ€.
The company's machine tool-based product demand and revenue continued to decline or remained flat, and the gross profit margin of machine tools in the past two years fell to a low level of around 15%; at the same time, the income from import and export and raw materials trading with extremely low gross profit margins grew rapidly. Although the company's operating income has increased, the overall gross profit margin has fallen sharply and losses still occur.
Under the circumstance of market depression, the company’s financial constraints are self-evident. The economic downturn cycle of Huadong CNC has started in 2011. Due to the capital expenditures such as CNC large-scale machine tool technological transformation and the continuous growth of supporting operating funds, the company has increased the scale of working capital loans, current ratio, quick ratio, and cash ratio. Such short-term solvency declines significantly. Since 2012, Huadong CNC has suffered from the slowdown in order demand growth and the delay of some customer orders. The ratio of liquidity to inventory of the company has gradually increased, and the turnover rate of accounts receivable has also decreased, resulting in quick ratio and cash ratio. The decline is obvious.
On the evening of August 15th, the company published a mid-year report. The company achieved a net profit of 6.437 million yuan in the first half of the year, down 28.6% year-on-year. During the period, the company achieved operating income of 142 million yuan, down 14.83% year-on-year. Affected by the macro economy and downstream industries, the customer's production tasks are not full, resulting in a certain decline in the company's performance. As the downstream customers of the company did not pay the purchase price in accordance with the contract, the sales revenue of the company was not realized, resulting in the actual operating results of the company in the first half of the year being lower than the previous forecast.
According to the economic operation data of the National Bureau of Statistics from January to June 2014, the main business income of metal processing machine tools increased by 8.7% year-on-year, metal cutting machine tools increased by 6.4%, and metal forming machine tools increased by 13.3%. Compared with the first quarter, it changed by -0.5, -1.3 and 1 percentage point respectively.
According to the statistical data of the key contact network of the Machine Tool Association, the sales revenue of all enterprises in January-June 2014 decreased by 2.6%. Among them, metal cutting machine tool product sales revenue decreased by 7.7% year-on-year; metal forming machine tool product sales revenue increased by 4.3%.
High-end products are favored
Although the market is at a low point in more than a decade, there are still companies that are going upstream and creating good results.
In the semi-annual report, during the reporting period, a number of newly developed robots of the company have been put into production. At the same time, the core product of the high-end CNC system, the Huazhong 8-type CNC system, has been upgraded and upgraded, and the V1.2 version has been released.
According to the disclosure, the company's newly developed Cartesian robot has been mass-produced, mainly used in the injection molding manufacturing industry; cylindrical coordinate robots have entered the small-volume production stage, mainly used for parts stamping in the auto parts manufacturing industry; multi-joint robots have also entered small In the mass production stage, it is mainly used for loading and unloading machine tools and palletizing of automated production lines. The newly developed truss multi-axis robots have begun to be applied in household appliance production lines and bowl production lines. In addition, the company's HNC-180GCE grinding machine CNC system has been put into mass production, HNC-808GCE grinding machine CNC system has completed a small batch of trial production and trial at the customer. These products are the company's current important research and development projects.
In 2014, the company will strive to get out of the predicament and expand and expand the industrial chain around the main business. In the field of robotics, the company will fully rely on the complete set of solutions for key components such as control systems, servo drives and servo motors in industrial robots and robots, and expand the market share of industrial robots and robots. At the same time, the company relies on the Huazhong 8 technology platform to gradually form a series of special plane products with market demand.
According to its semi-annual report, the revenue during the reporting period was 283 million yuan, up 33.48% year-on-year; the net profit attributable to shareholders of listed companies was 5,246,200 yuan, up 63.29% year-on-year.
In the face of the sluggish machine tool market environment, Qinchuan Development has accelerated its business transformation and product structure adjustment, and is focusing on the development of key functional parts and components business, which is expected to be on the market soon. The company is focusing on the development of key functional components, especially for large-scale special gear transmission products, robot reducer products, military-related products, and technical transformation. The goal is to obtain as soon as possible the large-scale production and sales of key component products. breakthrough. Qinchuan Development has the advantages of key component design technology and process equipment manufacturing. At present, it has cooperated with many downstream customers for trial production, trial use and small batch production.
The semi-annual report of Shenyang Machine Tool showed that during the reporting period, the company realized operating income of 3.819 billion yuan and net profit attributable to the parent company of 9,191,500 yuan.
In the first half of 2014, the company laid out the layout for restructuring. First, the company's organizational model shifts to the "inverted triangle" model. In the first half of the year, the company fully promoted the transformation of the organization to the “inverted triangle†model, promoted the transformation of the enterprise organization from manufacturing to market service, realized the company's advantageous resources, focused on market services and product research and development, and the manufacturing system was flexible and flexible. The organizational structure and staffing of major units within the company have been basically adjusted in accordance with the “inverted triangle†mode.
Second, focus on the industry and enhance market capabilities. The establishment of the automotive, electronics, and aerospace industry departments to strengthen the market targeting of products, to achieve a high degree of focus on industry customers, mainly to carry out industry-oriented process research, develop industry solutions around products, and develop professional product manufacturing; In order to promote the development of “incremental market†and develop the potential of “stock marketâ€, the Remanufacturing Division established the Remanufacturing Division. The establishment of the Remanufacturing Division is conducive to the company to explore the creation of a remanufacturing model, build a systemic maintenance service system, build outsourcing service capabilities, and promote sales capabilities; continue to promote the construction of 4S stores, newly established 3 4S stores in the first half of the year, online nationwide marketing network.
At the same time, Shenyang Machine Tool continued to promote the I5 system to carry out work and upgrade product technology. In the first half of 2014, the company continued to promote the I5 system, promoted the mass production of I5 intelligent machine tools, and identified six main models equipped with I5 systems such as i5T3.3, i5T5.2, i5M4.1, and i5M4.5. Five demonstration users were established in Sichuan, Fuyang, Xuchang and Suzhou, and an demonstration line of intelligent machine shop management system with I5 system as the core was established.
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