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Half A Year Loss Of 1.1 Billion! Why Can Industry 4.0 Not Save Shenyang Machine Tools?

Time:2019/8/15 Posted:鼎盛国际-16602090555

On May 22, 2018, Shenji Group Kunming Machine Tool Co., Ltd. (hereinafter referred to as “Kunji”) was listed on the Shanghai Stock Exchange for the purpose of hitting the two delisting targets of net profit and net assets.


Just a year after the delisting of Kunming, the days of Shenyang machine tools controlled by Shenji Group were not too good. On July 12 this year, Shenyang Machine Tool Financial Report showed that after a loss of -788,000 yuan in 2018, it is expected to lose 1.1 billion to 1.45 billion yuan in the first half of 2019.




It is reported that the continuous loss has caused severe shortage of funds for Shenyang machine tools, facing the predicament of bankruptcy and reorganization. If the failure of reorganization will have the risk of being declared bankrupt, this means that Shenyang Machine Tool has faced the risk of being delisted.


Once brilliant

 

Shenyang Machine Tool originated from Shenyang First Machine Tool Plant (later Shenji Group). It was one of the “18 Arhat Factory” established in New China. It was one of the top representatives of China's machine tool industry.


China's first ordinary lathe, the first horizontal boring machine, the first vertical drilling machine, and the first CNC lathe were born in Shenyang Machine Tool Group. Since the founding of the People's Republic of China, we have provided more than one million machine tools for various fields of China's national economy. 





It is reported that one out of every 10 machine tools in China's domestic market is manufactured by “Shenyang Machine Tool”, and one out of every five CNC machine tools is manufactured by “Shenyang Machine Tool”.

In 2011, Shenyang Machine Tool stood at the top of the world and was the world's number one machine tool company.


Loss track

 

If 2011 is the year when Shenyang's machine tools are not high, then after 2012, it is the beginning of the loss of Shenyang machine tools.


From 2012 to 2014, Shenyang machine tool sales revenue is still the first in the global machine tool industry, but its profits have dropped significantly, without government subsidies, or even losses.


After 2015, the government's subsidies for the huge losses of Shenyang machine tools have been a drop in the bucket, 2016 net profit loss of up to 1.4 billion.


Judging from the figures of the financial report, Shenyang Machine Tool has a feeling of going further and further on the road of loss.


The transfer occurred in 2017. In 2017, Shenyang Machine Tool realized operating income of 4.189 billion yuan and net profit of 118 million yuan. The owner's equity attributable to shareholders of listed companies was 865 million yuan, and finally turned losses into profits.


cnc machining factory


The main methods for Shenyang Machine Tool to get out of danger are the three major measures of divesting assets, creditor's rights and debts, and government subsidies. Some people in the industry commented that "the beauty of turning around is amazing."


The world’s sales are the first, but the profits are falling.


Some people say that the machine tool is not a mobile phone, and naturally it is not as profitable as Foxconn.

Guan Xiyou, former chairman of Shenyang Machine Tool, once said that the key lies in the control of core technology in the hands of foreign parties. The CNC system on the CNC machine tool of Shenji Group can only rely on imports, and the cost of CNC system accounts for 40% of the total cost of machine tools.

So, what about the i5 of Shenyang Machine Tool?


After the successful development of the i5 intelligent CNC system in 2012, it once seized tens of thousands of large orders and created a miracle of sales of new types of machine tools in the history of machine tools in the world. Like domestic Huawei and Xiaomi, a large number of Shenyang machine tool i5 intelligent machine tools were purchased, and the order contract exceeded 1 billion yuan.


Guan Xiyou believes that from a technical point of view, the i5 intelligent system has opened a new era of Shenyang machine tool development. The i5 series machine tool not only has high error control technology, but also acts as an intelligent terminal based on the Internet, which realizes the intelligence of operation, programming, maintenance and management.


It is reported that the machine tool user only needs to purchase 2 to 3 machine tools, and can complete all processing requirements with only one clamping, which reduces the user's equipment input cost, reduces the labor cost and reduces the equipment footprint.


At that time, the i5 intelligent system was called the first in the reform of Industry 4.0. The splendid i5 series of intelligent machine tools allowed Shenyang Machine Tool to quickly open the market and let the Chinese machine machine turn over.


Speaking of this, it seems that there is no relationship with the loss of Shenyang machine tools. Should Shenyang Machinery, which is at the forefront of Industry 4.0, should not fly all the way?


However, the surge in sales has also brought the entire factory into a vicious circle of blind expansion, making many of the factory's investments useless, that is, the management and planning of the company is unreasonable.

The biggest problem with fund management is the sales process.


The Shenyang machine tool only evaluates the sales mechanism that has nothing to do with the sales volume. As a result, a large amount of equipment sold only recovers 30% of the advance payment, and the rest is divided into payment according to the usage or value of the machine tool purchaser.



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