The prelude to the integration of central enterprises has obviously been so shocking. Some people have "selled" for the merger of central enterprises, and some people have "song down". There is a dispute over the facts. The real best opportunity for the merger and reorganization of the steel industry is to wait until some enterprises are truly bankrupt, and the value of the assets of the merged enterprise is only possible. Back to the same Chinese steel industry that will play a major role in industry consolidation, the previous news published an article on the merger rumors of Baosteel WISCO. An old leader of the former Ministry of Metallurgical Industry believed that mergers and acquisitions will solve the current capacity of China's steel industry. There is no benefit from problems such as excess, low industrial concentration, and low corporate efficiency, and it is believed that the recombination power in the region will be higher than the cross-regional restructuring. The views of the above-mentioned old leaders only represent one of the many voices in the Chinese steel industry. They believe that there are many people who are "impossible in the merger and reorganization of the steel industry", including Dai Guoqing, former vice president of the Shougang Development Research Institute. . Dai Guoqing said in an interview with the news that he has the following two views on the merger and reorganization of the Chinese steel industry: 1. The merger and reorganization of China's steel industry will inevitably have to be carried out sooner or later. The future trend of China's steel industry must be toward the structure of several large steel groups, and it is highly probable that individuals expect to have three or four hundred million tons of groups in China. From the perspective of developed countries in the world, Japan, Europe, and the United States are the top three steel companies that basically occupy more than two-thirds of the steel market. In the end, China may also have the largest steel companies in the top three or four to occupy 2/3 of China's output. In addition, some independent steel mills develop their own characteristics and focus on some market segments. From the historical evolution, it will definitely be the end. Moreover, the future of Chinese steel companies will not only be "big", but will certainly become the world's top strong enterprise. The reason for this is that the steel industry is not a “sunset industry†– in the next forty or fifty years, other materials cannot fully replace the status of steel products in terms of performance, recycling and cost performance. Secondly, the future steel The development of enterprises, the competitiveness has been mainly not reflected in the scale benefits of the production of individual factory products (in this case, at least one hundred factories in China's steel industry have achieved economies of scale), but mainly in new products, Large-scale enterprises also have scale competition in these areas in terms of new process research and development capabilities, popularization and application of advanced management experience, large-user development capabilities, and bargaining power of upstream raw materials, equipment suppliers, and financial institutions such as banks. Advantage. Therefore, the future steel group will not be a regional company limited to a certain region, but must be a national or even global company across large regions. 2. Now is not the best time for mergers and acquisitions in China's steel industry. First, China's steel industry may face even more severe demand in the next few years. In the last two or three years, I said at some internal seminars that "the peak of China's steel industry is close at hand." Last year, I even had a point that China's steel industry will fall another 120 million in the next five years. The tons are also likely to be large. This is because in the past many years, China's steel industry has expanded so much. Its demand is mainly formed by government investment and bank loan support. Now the economic development has changed, the central guidance economy has changed, and the economic structure is happening. With large adjustments, steel demand is unlikely to remain as high as ever. Many people say that steel demand only pays attention to urban real estate, but it is worth noting that the investment in manufacturing industry, especially the new investment in traditional manufacturing expansion and reproduction, is actually decreasing on a large scale. I mainly said that the investment in the construction of new factories and new production lines has been greatly reduced. At present, there are still some investments that are only completed in the construction projects, but the newly started projects have been drastically reduced. Some of the investment in the manufacturing industry is mainly in the emerging industries, as well as the technological transformation, informationization, and research and development of traditional industries. These investment 10,000 yuan of steel demand has fallen sharply compared with the past. Therefore, in another year or two, after the completion of the current traditional manufacturing projects, the decline in domestic steel demand will become more apparent. Now the Chinese government vigorously promotes the “One Belt, One Road†development strategy and supports Chinese enterprises to participate in infrastructure construction and economic development along the route. It may lead to an increase in direct and indirect exports of Chinese steel products, but considering the huge volume of the Chinese steel industry. This increase is unlikely to reach the export ratio of steel companies in Korea and Japan, and it is unlikely to make up for the gap in domestic steel demand. Therefore, the most difficult time for Chinese steel companies may not have arrived. Second, the real best opportunity for the merger and reorganization of the steel industry is that it is only possible that some enterprises will be truly bankrupt, and the value of the assets of the merged enterprises will be realized. The restructuring of steel enterprises targeting state-owned enterprises will be subject to the real reform of state-owned enterprises. implement. Only a part of the environmental protection is not up to standard, the enterprises that are not well-managed are bankrupt, and the asset prices of other poorly-operated enterprises can be truly reflected in the market, and then it is possible to talk about the willingness to merge. Now some local governments are reorganizing the steel industry. First of all, it is impossible to maintain the original scale of the target enterprises and ensure employment and local taxes. China's steel industry must shut down a large number of enterprises that do not meet the standards of environmental protection and are not well-managed. Some slightly better enterprises may reduce the scale and streamline their personnel even if they may retain them. If we guarantee the survival of the original enterprise as a prerequisite (not to mention that some people still hope to continue to expand the scale), it is very likely that the restructured enterprise can not be reborn, but it has dragged down the reorganized good enterprise. For the state-owned large-scale iron and steel enterprises, in the case that the state-owned enterprises deepening reform has not really started yet, and the local government and state-owned enterprises relations have not yet been straightened out, it is not necessarily a good thing to rush to promote both sides of the possible restructuring. The corporate structure of China's steel industry is completely different from that of railway locomotives, power generation companies, and military industrial enterprises. There are more than 200 enterprises with a capacity of over one million tons of Chinese steel enterprises. There are both central enterprises and a large number of local state-owned large steel enterprises. There are many private steel companies, so we must not expect to simply apply the combination of North-South vehicles and nuclear power companies to guide the restructuring of steel companies. For example, the rumors of the merger of Baosteel and Wuhan Iron and Steel, is the merger of the two groups as a whole, or is it just a merger of steel companies under the control of listed companies? The difference is too great! As for the restructuring of steel central enterprises and local state-owned large steel enterprises The problems and problems encountered by the reorganization of state-owned enterprises and private enterprises are completely different. For the reorganization of all steel companies, the most fundamental thing is to first consider what is the purpose of reorganization? Is it to enhance the competitiveness of the dominant enterprises, or is it mainly to allow the dominant enterprises to transfuse the inferior enterprises? Only the former is in line with economic laws, and it is expected to implement the latter on steel. Industry must have more harm than good. Sewing Measuring Tape,Tailor Measuring Tape,Custom Logo Tape Measure,Tailor Measuring Soft Tape Measure Shangqiu Hengli Measuring Tools Co.,Ltd , https://www.jjmtools.com