On June 18th, the rumored Shandong Heavy Industry Group finally unveiled the long-covered veil in Jinan, and Shandong Province has thus begun to unify the province's equipment manufacturing industry.
It is understood that the newly established Shandong Heavy Industry Group has become the largest group of listed companies in Shandong Province, including four listed companies listed in Hong Kong and the Mainland, Weichai Power (Hong Kong and the Mainland A shares), Weichai Heavy Machinery and Shantui. Shares.
Listed company has no reorganization plan
Tan Chengyi, director of Shandong Provincial State-owned Assets Supervision and Administration Commission, introduced that Shandong Heavy Industry Group was established by Weichai Holdings, Shangong Group, and Auto Industry Group. After the establishment of the framework remained largely unchanged, that is, under the group set up the Weichai Holdings, Construction Machinery Group, the same name, Shandong Automotive Industry Group was changed to Shandong Auto Parts Group. The four listed companies postponed to become third-tier companies under the heavy industry group, and the second-tier group's ownership of listed companies remained unchanged.
Weichai Holding Group has total assets of 24 billion yuan, and its sales revenue in 2008 reached 42.8 billion yuan. Weichai used to be the Weifang Diesel Engine Factory owned by the Shandong State-owned Assets Supervision and Administration Commission. In March 2004, the reformed Weichai Power was listed on the main board of the Hong Kong Stock Exchange. In April 2007, it passed the “absorption and merger†method, and Weichai Power returned to the domestic A shares. The market has now become China's largest auto parts company; Shandong Construction Machinery Group has a total asset of 4.26 billion yuan and sales revenue of approximately 7 billion yuan. In November 1996, it was restructured and established on the basis of the Shandong Engineering Machinery Group Corporation. It is a wholly-owned enterprise of the Shandong State-owned Assets Supervision and Administration Commission. Currently, it has several listed companies such as Shantui shares of the listed company, Shandong Zhongyou Construction Machinery Co., Ltd., and Shandong Ruichi Machinery Co., Ltd.; Shandong Automobile Industry Group currently has total assets of 2.8 billion yuan, sales revenue of about 2 billion yuan, and ownership of ownership and 12 custodian companies.
After the establishment of Shandong Heavy Industry Group, the total assets reached 31.06 billion yuan, spanning the two major industries of automobiles and construction machinery.
Regarding doubts about whether the new group concerned will be reorganized after the establishment of a new listed company, at the press conference after the unveiling ceremony, Tan Xuguang, who has been appointed as Chairman of the Group and Secretary of the Party Committee, told reporters: “The group does not have any Reorganization plan."
In order to promote the reorganization of large companies, Shandong Province led the establishment of Shandong Steel Group last year. However, since its establishment more than a year ago, Shansteel has not been able to effectively integrate steel enterprises in the province. The three major steel plants including Jigang and Laigang have maintained their independence, and the production capacity of Jinan Iron & Steel and other enterprises has still not been effective. Compression, even if the joint procurement, financial unification, and other platforms such as Shanshan Iron & Steel’s headquarters were launched at the beginning of this year have not yet been effective, it has left a heavy shadow for the restructuring of Shandong Heavy Industry Group.
In response to such doubts, Tan Xuguang said: "The restructuring of the three companies has strong synergies and there is no competitive relationship with the industry within the new group." Tan Xuguang also emphasized that the establishment of Shandong Heavy Industry Group is "government-driven." The subtle differences between "push" and "dominant" words indicate that Shandong Heavy Industry Group may be different from Shansteel Group's reorganization.
Pushing big business strategy
The output value of Shandong's equipment manufacturing industry is still among the top in the country, but there are many hidden problems. The former Shandong Provincial Economic and Trade Commission issued the "Eleventh Five-Year Plan for Development of Machinery Industry in Shandong Province" in 2008, pointing out that "the province's total machinery industry ranks in the forefront of the country, but its economic efficiency and operation quality are also far from coastal developed provinces and cities. There is a certain gap."
The plan also said: "At present, most of the leading enterprises have not yet reached the scale of the economy. There are fewer large enterprises that can support and drive the optimization and upgrading of the industry structure, especially large-scale enterprise groups with prominent primary industry, strong core competitiveness, and strong enthusiasm. At present, there are only one enterprise with an annual sales revenue of over 20 billion yuan and 10 billion yuan, and a total of 10 companies with a sales revenue of over 4 billion yuan. The number of backbone enterprises is relatively low.
The Shandong Heavy Industry Group has a good reputation. The first thing to solve is the problem of small scale.
Tan Xuguang said: "In 2007, the Weichai Group made plans to use 3-5 years of sales revenue of 100 billion yuan. Now, the establishment of Shandong Heavy Industry Group has accelerated this plan."
He believes that under the effective allocation of internal resources of Shandong Heavy Industry Group, Weichai Holding Group can further strengthen the independent supporting position of the power system and create a competitive power system manufacturing base; ShanGong Group will continue to maintain the position of the domestic bulldozer industry The next step will be to enter 10,000 units of production capacity. With the help of China's auto industry development, Shanhwa can quickly form a passenger car parts resource platform with a rational product layout, high system integration, and low logistics costs.
Since the integration of the automotive industry in Shandong Province has not yet been completed, the focus of the development of the Shandong Heavy Industry Group for a period of time in the future will be concentrated in the construction machinery industry. Tan Xuguang also categorically denied the heavy industry group's next step in integrating bus passengers.
Tan Xuguang said: "We don't have any idea of ​​relocating passenger cars." Previously there were rumors that the integration of Shandong's automobile industry chain was divided into two major parts. Weichai has always become the core competitive advantage to integrate automotive parts and downstream. The construction machinery industry, China National Heavy Duty Truck Co., Ltd. vehicle manufacturing advantages integration of the province's auto industry.
In the construction machinery industry, Shandong lacks a large enterprise group that is in equal position with it. In 2008, the sales revenue of all machinery industries in Shandong exceeded the trillion mark and reached 1,090 billion yuan, ranking second in the industry in the country. However, the contrast among the advantageous enterprises in the construction machinery industry is notable. XCMG’s sales revenue in 2008 reached 40.8 billion yuan. At the same time, Shantui’s sales in the country’s bulldozer industry accounted for only 6.518 billion yuan in 2008.
The Xuzhou and Changsha plates represented by Xugong, Sany Heavy Industry and Zoomlion have also won development opportunities.
In 2008, Jiangsu Province promulgated the "Decision on Accelerating the Rejuvenation of Old Industrial Bases in Xuzhou." Xuzhou City's plan is to use XCMG as the leading tool to achieve a total output value of 150 billion yuan in Xuzhou's equipment manufacturing industry; and in Changsha, 2008. The total annual operating revenues of the three companies, namely, a heavy industry, Zoomlion, and Shanhe, total more than 50 billion yuan. Sany Heavy Industry and Zoomlion also plan to make sales revenue of 100 billion yuan in 3-5 years respectively.
At the unveiling ceremony, Shandong Provincial Governor Jiang Daming emphasized: “Shandong Heavy Industries Group has undertaken the historic mission of realizing the development of the equipment manufacturing industry in our province.†He said: “Accelerating the adjustment of the equipment manufacturing industry structure and optimizing the allocation of resources It has become a strategic task for the development of the equipment manufacturing industry in our province."
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