The hottest capital pressure will not be reduced.

2022-07-29
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No reduction in capital pressure this year, the domestic steel industry or "another lost road"

no reduction in capital pressure this year, the domestic steel industry or "another lost road"

China Construction Machinery Information Guide: after a long period of trough, China's steel industry turned losses into profits in the first quarter of this year, achieving a profit of 2.486 billion yuan. However, the good times did not last long. The tiny sales profit margin was close to exhaustion in March. Analysts pointed out that the current domestic steel industry has a high asset liability ratio and a large amount of accounts receivable

in the first quarter of this year, after a long period of low ebb, China's iron and steel industry turned losses into profits, achieving a profit of 2.486 billion yuan. However, the good times did not last long. "The tiny sales profit margin was close to exhaustion in March". Analysts pointed out that the current domestic steel industry has a high asset liability ratio, a substantial increase in accounts receivable, increasing sales difficulties and pressures, and the steel plant operation is becoming increasingly difficult, so we have to "burn our eyebrows and look ahead"

"there are still many uncertainties about whether we can keep the small profits or keep the balance in the later period."

the total asset liability ratio is close to 70%

"the overall operation situation of China's iron and steel industry this year is still grim, and the total asset liability ratio is close to 70%, which has entered high-risk areas. First of all, we should take the resource-saving development path," China Iron and steel Association pointed out in the analysis report on May 13

according to the main indicators of the first quarter, at the end of March, the 86 key large and medium-sized iron and steel enterprises listed in the financial statistics of CISA had a total debt of 2978.9 billion yuan, an increase of 188.9 billion yuan year-on-year. The total asset liability ratio was 69.12%, up 1.49 percentage points from 67.63% in the same period last year

"the asset liability ratio is close to 70%, which means that 70% of the industry's assets are borrowed," said xuyanyan, a researcher at my iron and Steel Research Center. "The asset liability ratio of Baosteel in recent years is generally about 50%, while that of WISCO and Angang is about 62% and 50% respectively."

asset liability ratio indicates how much of the company's total assets are raised through liabilities. This indicator is a comprehensive indicator to evaluate the company's debt level

in fact, at the end of the first quarter of this year, the asset liability ratio of the steel industry continued to rise. Statistics show that at the end of the first quarter of this year, 16 of the 44 listed steel enterprises had positive month on month growth in asset liability ratio, accounting for 1/3; The asset liability ratio of 31 enterprises exceeded 50%, accounting for more than 70%. Among them, the asset liability ratio of Chongqing Iron and steel, *st Shaogang, Fushun Special Steel, Valin Iron and steel and Bayi Iron and steel exceeded 80%

according to statistics, at the end of 2012, the overall asset liability ratio of the iron and steel industry increased by 1.44 percentage points year-on-year. There were 44 listed companies, with an average asset liability ratio of 60.35%

steel plant operation: "we have to 'burn our eyebrows and look ahead'"

according to the data, from the perspective of the amount and duration of loans from the steel enterprises to the bank, the short-term loans were 92, the standard 220V power supply and power supply system were 07.9 billion yuan, an increase of 111.3 billion yuan year-on-year. Long term loans amounted to 386.1 billion yuan, a year-on-year decrease of 3.5 billion yuan. In the collection and payment, the net amount of accounts receivable was 120.2 billion yuan, an increase of 11.2 billion yuan over the same period last year. 5. The net amount of accounts payable for starting the beam motor was 120.2 billion yuan, a decrease of 11.2 billion yuan over the same period last year. The management expense was 28.9 billion yuan, an increase of 3billion yuan on a year-on-year basis. The financial expenses were 20.3 billion yuan, an increase of 1.4 billion yuan year-on-year. The sales expense was 8.1 billion yuan, an increase of 600million yuan on a year-on-year basis

the CISA report pointed out that the long-term loan decreased, while the short-term loan increased, indicating that the operation of the steel plant was becoming increasingly difficult and had to "burn eyebrows and look ahead"; The substantial increase in accounts receivable indicates that due to the bad market, "people owe" bad debts may increase and cause difficulties in capital turnover; The substantial increase of management, finance and sales expenses indicates that with the increasing difficulty and pressure of sales, the corresponding expenses have increased significantly

xuyanyan also said that from the situation of listed steel enterprises, the asset liability ratio is generally high, and most enterprises' cash flow from operating activities is not very good. From the operating cash flow per share of steel enterprises in the first quarter, nearly one third of the net operating cash flow of steel enterprises was negative, and the operating cash flow of some steel enterprises that made profits in the first quarter was also low or even negative, "this shows that the main business operation of steel enterprises is not optimistic at present, and the product payment collection efforts of some enterprises need to be improved"

according to her analysis, on the one hand, due to the great pressure on product inventory of some enterprises, on the other hand, the main business of steel enterprises has generally performed poorly in recent years (there are many loss making enterprises). "From the current situation of the entire steel industry, the business environment faced by steel enterprises is still grim. It is expected that the performance of listed steel enterprises in the second quarter is difficult to be optimistic."

uncertainty still exists. The steel industry is still struggling.

according to the statistics of China Steel Association, in the first quarter, large and medium-sized steel enterprises achieved a sales revenue of 875.85 billion yuan, an increase of 0.94% year-on-year; Profits and taxes reached 20.346 billion yuan, a year-on-year increase of 30.24%; The company realized a profit of RMB 2.486 billion, turning losses into profits on a year-on-year basis

some analysts pointed out that although the whole industry had a profit of nearly 2.5 billion yuan in the first quarter, the revenue profit margin dropped to 0.9%. "It should be said that this is basically negligible for industries with 4.3 trillion assets."

analysts said that although the economic benefits of the whole iron and steel industry this year have significantly improved compared with the same period last year, "from the perspective of trend, the tiny sales profit margin is close to exhaustion in March. Whether it can keep the small profits or keep the balance in the later period is still full of uncertainty." It is reported that the loss of the iron and steel industry reached 35% in March, and it is likely to expand month by month

insiders also pointed out that although the national steel industry had a profit of 1.6 billion yuan in 2012, if the investment income and less depreciation were deducted, there would be a loss of at least 10 billion yuan

in addition, an analysis report pointed out that since this year, after the national spot steel price reached a phased high on February 20, the steel price began to fall sharply after the Spring Festival, and repeatedly hit new lows since the beginning of the year. At present, it is running at the bottom for nearly five years and building a phased bottom. It is predicted that the main iron and steel industry in China may fall back into a loss situation in April, and the situation in May may may be difficult to be optimistic. According to the analysis, the operation environment of national steel enterprises in 2013 is still severe and the journey is still very difficult

it is worth mentioning that the supply chain management innovation has effectively integrated group warehousing and channel resources. According to the main indicators of CISA data in the first quarter, the 86 key large and medium-sized iron and steel enterprises listed in the financial statistics of CISA have accumulated an inventory of 583.1 billion yuan, an increase of 10.2 billion yuan year-on-year. Among them, the inventory of finished products was 186.8 billion yuan, a year-on-year increase of 8.5% and an increase of 14.6 billion yuan

"the inventory data shows that the industry is under great pressure in the later stage, and the benefits of iron and steel enterprises will face greater uncertainty."

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