Industrial and commercial bank of investment banking analyst told reporters, subject to rising costs, factors such as overcapacity and lack of market demand, in 2012 domestic steel enterprises will be more difficult
Recently, Chongqing iron and steel announcements, company 2011 loss $ 1.471 billion, fell 13,153%, the company became the angang 2.146 billion dollars after the huge losses the second largest loss in iron and steel enterprise, shaogangsongshan and *ST steel lost $ 1.138 billion and $ 689 million, respectively.
How to turn around as iron and steel enterprises on topics of common interest. Expenditure under the weight of two mountain, 2012 business situations difficult iron and steel enterprises capacity optimistic.
Expansion and rising cost pressures.
For listed companies, face the enormous business pressure, one way to survive is the reorganization of assets, to the transformation of their blood transfusion and hematopoiesis.
On February 24, Chongqing iron and steel announced the suspension, notice several times since then to continue business. Among them, announced on March 5 for 30 days should have been the Ching Ming Festival on April 5 after resumption of Chongqing iron and steel, said business between May 7 and resumed trading once again.
Business for significant matters were finally lifted the veil on the back: Chongqing steel group company shareholders will inject new iron and steel base of longevity of assets. The preliminary plan of reorganization to the Chongqing steel group directed by the company to issue shares to buy, also plans to apply to the regulator to other social investors to issue shares to raise funds to support restructuring after the completion of the company's operation and development.
At present, Chongqing iron and steel Fund pressure is huge. Not only after the complete reorganization of assets of the company and support the company's restructuring business development requires a lot of money, which the relocation of production facilities is required for static investment 1.925 billion, to the British along the leased production equipment for four years at a cost of $ 1.3 billion. In the case face great financial pressure, the company announced at the end of last year, at a cost of us $ 3 billion annex Australia Istanbul Golden mountain iron mine; $ 2.2 billion of investment construction in jiangjin iron bases, Taizhou Jingjiang port Xingang port operation area and terminal three project, as well as three peaks at a cost of $ 185 million acquisition of its parent company, rail companies.
Not only that, pressure increases while Chongqing iron and steel's own funds, Jingjiang logistics subsidiary in the country $ 700 million Development Bank loan guarantees, companies risk increasing again.
Chongqing iron and steel 2011 report shows that in terms of cost, company accounts payable increased 70.6%, amounted to $ 4,808,932,000; non-spending increased by 330.27%, amounted to $ 7.861 million; operating costs increased by 46.99%, amounted to $ 22,571,662,000. Rapidly increasing costs and expenses at the same time, Chongqing iron and steel trading profits than "roller coaster" fall faster, 2011 year operating profit fell to-$. Down the 1015.3%.
Iron and steel enterprise open source increased pressure.
Iron and steel industry loss has become a universal problem, even Valin steel profit last year was $ 1.16 billion rely on Government subsidies to an awkward turn. 2011 national key large and medium-sized iron and steel enterprises profit fell 4.51%, sales of only 2.4%, losses to expand 3.9%, 2012 continues to face dual extrusion of weaker demand and high prices of raw materials. It can be said that fundamental way out for iron and steel enterprise development is "revenue", similar to the Chongqing iron and steel restructuring of self-help, if lack of autologous hematopoietic function, blood transfusions are also difficult to turn things around.
Open source, the major iron and steel enterprises have increased sales to increase revenue. At present, domestic steel product, but selling fewer products. Reporters from the Chongqing steel 2011 main form, selling products of only the hot coil and sheet, last year sales of $ 8,168,120,000 and $ respectively, specializing in income and 34.83%. Hot coil and sheet metal and steel major downstream industries such as railways, ships and cars, and downstream enterprises to reduce serious demand for steel.
Among them, 2012 the Ministry of railways infrastructure investment of $ 400 billion, $ 700 billion to significantly reduce in 2011 than originally planned. 2011 national macro-control, exit of the encouraged policies, factors such as higher base from a year earlier, and some of the city's restriction of influence, China's automobile production and sales growth to fall sharply, as a 13-year low. 2011 national new undertaking order 36.22 million deadweight tonnes of ships, down 51.9%. 2012 real estate regulatory policy unwaveringly, China's real estate market, or will enter the depth adjustment, and will provide an impetus to growth in fixed asset investment to decline further. Under the influence of real estate regulation, as the largest user of real estate profiles and building materials enterprises, due to underemployment, reduced demand for steel products.
Stream of iron and steel enterprises limited.
Throttling is in iron and steel enterprises profit is a magic weapon. With urban expansion and environmental protection requirements of the sector, domestic steel companies have relocated, moving to enjoy substantial government subsidies, but the move also require huge expenses, which include the purchase or lease of new equipment, staff housing, which require a huge funds to support it.
Increased raw material costs increased losses in the iron and steel enterprises. Recently, Qu Xiuli, Deputy Secretary-General of the China iron and steel Association in a media interview, it is revealed the cause of the loss of the iron and steel industry: "because of the original burning materials such as iron ore prices up sharply, rising production costs in iron and steel enterprises. ”
Domestic iron and steel enterprises in expenditure under the dual pressure of 2012 what do iron and steel market performance will be? To this end, the Bank Investment Banking Department of steel industry analyst, who asked not to be named told reporters, domestic steel enterprises subject to rising costs, factors such as overcapacity and lack of market demand, 2012 in iron and steel enterprise will be more difficult.
Earlier this year held on 2012 Director of the China iron and steel Association meeting, participating heads of large steel mill Baosteel, Shougang, angang, 2012 judgments generally are not optimistic about the situation, operating conditions are deteriorating in iron and steel industry, iron and steel industry will face a more severe test.
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