By - 管理

* ST heavy steel or huge loss of nearly 4.7 billion into the listed steel enterprises suffer king 2016

Because two years of losses, the 5th is implemented delisting risk alert "Phi Star hats"。Economic Report combing earnings of listed companies (notice) found a net loss of nearly $ 4.7 billion, makes heavy steel * ST is very likely to become a "loss of the King" in 2016 listed steel prices in。* ST heavy steel secretaries of the 21st century Business Herald reporter said, "At present, the relevant restructuring is advancing, the results predict how inconvenient。"Net loss of nearly 4.7 billion in April from Phi star wearing a hat for most steel enterprises, tolerance comparatively good year for 2016, at the end of 2015 fell to lows near rebar price 1,600 yuan / ton, obtained in 2016 corrective bounce。According to APP find steel index statistics, in December last year, Shanghai rebar price once rose above the high point of 3500 yuan, the annual increase of over 100%。  In steel prices continued to rise, driven by the sharp rebound in corporate profits iron and steel。Ministry of Industry issued in early March in the run briefing, "2016 iron and steel industry to achieve profitability。Key statistics steel enterprises realized sales income of 2.8 trillion yuan; total profit 303.$ 7.8 billion in the prior year earlier loss of 779.3.8 billion yuan, profit growth of more than 100 billion yuan。"As previously reported reporters in the 21st century economy statistics, 36 major steel companies, there are 33 released 2016 annual results notice or Express。Of which 29 net profit is expected to be positive, the number of profit-making enterprises accounted for nearly 90%; of which there are 18 to profitability。Even the 2015 loss-making enterprise "" (after the merger has been delisted) also realized losses, expected 2016 net profit 4.0.6 billion yuan; (000898.SZ) expects net profit 16.1 billion, a loss of 45 than the same period in 2015.9.3 billion to improve performance significantly。  However, * ST heavy steel evening of March 31 release of the earnings report was the formation of embarrassing contrast to the above case。  Reported in the production and bulk to the market recovery in the context, * ST heavy steel (601005.SH) full-year revenue 44.1.5 billion, a loss of 46.8.6 billion yuan。At the same time, an increase of 11 asset-liability ratio.71 percent to 100.29% of net assets attributable to shareholders of listed companies to -2 billion, insolvency。  21st Century Business Herald reporter combing found that the financial report or notice, published transcripts of listed steel enterprises, only (Pre-losing 800000000-1300000000), (5-losing.300000000-6.900 million) and three losses * ST heavy steel, heavy steel of which * ST huge loss of nearly 4.7 billion, although compared with 1.3 billion last year, reduced losses, but the year 2016 to become listed steel enterprises' losses king "is still a high probability event。  * ST heavy steel edge has been struggling for years at a loss。Since 2011, the downstream steel industry, * ST heavy steel performance on a downward trend。2011 losses, 2012 losses in 2014 were lucky at the end of the year, barely avoiding the "hats" risk。And in 2015, a loss of nearly 6 billion yuan Chongqing Iron & Steel。  In the announcement of April 1, * ST heavy steel referred to as "Company of the Year due 2015, 2016 audited net profit are negative, and the end of 2016 audited net assets is negative, the company shares will be implemented retreat City risk warning。"April 5, at the occasion of the Shanghai stock market opened, shares of listed companies officially referred to by the 'Chongqing Iron & Steel' is changed to '* ST heavy steel'。  Senior steel industry Xuxiang Chun told the 21st Century Business Herald, * ST heavy steel main cause of consecutive losses, the first in recent years the market down, state-owned steel enterprises to bear the personnel, heavy debt burden; Second, the debt caused by tight cash flow, but also affect the normal production and operation of blast furnace utilization and, indirectly lead to production decline。In addition, Chongqing prices relatively remote coastal areas of steel, has also led to raw material and fuel procurement and transportation costs much higher steel。  Lange steel analyst Guo-Qing Wang also pointed out that, in the context of the previous high debt, heavy steel environmental relocation, which also increased the financial costs of。"Can also be seen from production data, heavy steel crude steel production last year was 235.50,000 tons, according to the estimated 6 million tons of production capacity, the actual utilization of only 38%。"For the mid-2017's main performance can improve, said Xu Xiangchun, the downstream demand to capacity and infrastructure such as this year's steel industry continued implementation of the growth is expected to bring better market environment for steel prices and profits。For heavy steel ST * This is a favorable external conditions, and whether the losses, cost efficiency and reform of key aspects of its business as a still。  Chongqing Iron and Steel Group chairman Liu pointed out that in 2016 only added Chongqing Iron & Steel failed losses, two years of losses would have been "ST" processing at a meeting early on, "if another loss in 2017, will be forced to suspend the listing。2017 is a mid-heavy steel turn around the crucial year, heavy steel must be crossed this bridge control loss losses。"Reorganization is still advancing Chongqing SASAC has repeatedly helped coordinate the heavy steel drop this burden。Last April, when heavy steel due to financial difficulties can not purchase raw materials on their own on the occasion, the parties concerned under the coordination of Chongqing, Chongqing Iron & Steel Group and private enterprises PanVenture signed a two-year "processing agreement"。To provide the desired aspect PanVenture produced by ore and coal and other raw materials, heavy steel to produce steel again referred PanVenture processing and marketing。  But this is regarded as a mixed business model of cooperation to try, not as envisaged smoothly。Starting from the second half of 2016, continued skyrocketing coal and iron ore to make PanVenture Group also encountered difficulties in procurement, heavy steel has been unable to achieve full capacity。Eventually the two sides ahead of the end of last year "amicable divorce"。  In the earnings report, * ST heavy steel known as "due to the adoption of production and processing business model, reporting period June-December earnings of only processing fees, leading to a substantial decline in sales of" change, "production business model in 2016 the main factor in the sharp decline in revenue。"Facing severe pressure on the operation and delisting risks, * ST heavy steel at the same time a substantial cost reduction and promote reform, it is also brewing 'financial swap Steel' recapitalization。  This is known as a single restructuring plan "to change Steel finance" as early as last June 2 announced, involving local state-owned domestic first single operating platform on the market。  According to the program previously announced restructuring will include at least two parts: First, the sale of assets, listed companies will present all assets and liabilities can be set out, workers and businesses all set out by the Parent Group to undertake in order to achieve the steel business from the listed divestiture; at the same time, listed companies to issue shares to the holding and other counterparties Yufu, Yufu holding's acquisition of high-quality financial assets sitting on many financial and investment group's 100% stake in Yufu。  21st Century Business Herald had learned from sources close to the heavy steel aspects, "if the program ultimately passed, not only Yufu Group is expected to become the first landing of capital markets state-owned capital operating company, but also for Chongqing Iron & Steel Group injected about 20 billion yuan the size of cash flow。"The industry believes that the financial assets have continued profitability into the listed company, both to achieve Yufu backdoor listing, raise the level of securitization of state assets, but also help the steel business to supplement working capital loss。Kill two birds restructuring plan, it seems multiparty step "good move"。  The latest announcement shows that at the end of 3, * ST heavy steel selected independent financial adviser to the reorganization, the audit agency, the rating agencies, legal advisers and other intermediaries, and actively carry out due diligence, audit, evaluation and other related work。"The major asset restructuring is still in the pipeline。The company is now actively discussing the feasibility of further trading scheme with interested parties, and organizations interested parties to sort out the scope of the underlying assets and in-depth demonstration。"* ST heavy steel secretaries said Thursday by telephone to the 21st Century Business Herald:" If the announcement said, related to the restructuring plan still trying to promote, for the final result, it is not yet predict or statement。"Xu Xiangchun analysis, despite the Chongqing parties attach great importance to this 'financial swap Steel' restructuring, but with the personnel turnover and changes in the market, until the very last approved, there are still some variables restructuring。But it also stressed that, as the cradle of Chinese iron and steel industry production capacity and more advanced large-scale steel enterprises, State-owned Chongqing and other aspects believe will aid policies, financial instruments, and to help turn around the heavy steel upgrade。"Do not rule out the possibility in the future also taken heavy steel and other means to resolve the plight of debt-equity swap。"Currently, * ST heavy steel still suspended in June last year, the stock has been suspended for 10 months。(Original title: * ST Chongqing Iron & Steel huge loss of nearly 47 million, or a loss into a 2016 listed steel enterprises king) (Editor: DF305)