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[ China Agricultural Machinery Industry News] Due to the slowdown in the growth of the agricultural machinery market, the new three-board company's modern agricultural equipment continued to lose money, and was eventually capped "ST" due to negative net assets. The modern agricultural machinery that continuously increases research and development admits that with the internationally renowned agricultural machinery enterprises occupying the market, it is more and more difficult for enterprises to turn losses into difficulties.
Agricultural machinery industry shuffles modern agricultural equipment
Agricultural machinery market growth rate slows down Modern agricultural equipment is ST
Established in July 2001, Hyundai Agricultural Machinery (430010) was jointly established by China Agricultural Machinery Institute Joint Steel Research Institute, Tsinghua Unisplendour, Capital Assets and Machinery Institute. It is an agricultural equipment enterprise specializing in R&D and production of modern agricultural equipment. Products include ploughing machinery, sowing and planting machinery, plant protection machinery, water-saving irrigation machinery, harvesting machinery, post-harvest processing equipment.
According to the data, China Agricultural Machinery Institute is the major shareholder and actual controller of modern agricultural equipment. At present, it holds a total of 81.51 million shares, accounting for 67.93%. As the main business sector of China Agricultural Machinery Institute, modern agricultural equipment develops modern agricultural machinery and equipment by utilizing the technology, management and talent advantages of China Agricultural Machinery Institute in the field of agricultural machinery.
In recent years, the growth rate of the agricultural machinery market has slowed down, and modern agricultural equipment has fallen into a profitable quagmire.
The data shows that China's agricultural machinery industry's annual income and profit growth rate are showing a weak state, reaching the bottom of the decade. In 2016, the total revenue of the main business of agricultural machinery enterprises above designated size was 451.639 billion yuan, a year-on-year increase of 5.8%, and the total profit was 25.524 billion yuan, an increase of only 1.39%.
Last year, in order to digest inventory products, modern agricultural equipment and subsidiary sales lowered the sales price. The sales price of agricultural machinery products equipped with “National 2†engines decreased by 30-50% compared with the previous year, resulting in a gross profit margin of 4.67% in the agricultural machinery sector, down from the same period of last year. 9.02%.
In 2016, modern agricultural equipment realized revenue of 141,400 yuan, a decrease of 38,600 yuan from the same period of the previous year of 180,000 yuan, a decrease of 21.43%. Not only that, modern agricultural equipment suffered losses in recent years, and the loss in 2016 reached 454 million yuan. As the company's net assets at the end of the consolidated statement was RMB -1,638,800, the risk warning period was entered on May 3, 2017, and the stock short name was changed to ST Hyundai.
Market competition is intensifying
The competition in the agricultural machinery market is becoming more and more fierce. The data shows that there are more than 10,000 agricultural machinery enterprises in China, and there are more than 2,400 large-scale enterprises. The brutal market competition will intensify the reshuffle of the agricultural machinery industry.
However, the problem of China's agricultural machinery industry as a whole is “big but not strong, structural imbalance†has not been fully solved, and product homogenization competition has become a major challenge in the agricultural equipment industry.
It is worth mentioning that in order to improve the intelligence of agricultural machinery and equipment and the intelligentization of the production system, agricultural machinery and equipment has been listed in the “China Made 2025†key areas as the national strategic level. In order to increase the company's new revenue growth point, modern agricultural equipment has also begun to transform and upgrade.
The degree of emphasis on R&D in modern agricultural equipment is also increasing. In the past two years, the company's research and development expenses have shown an increasing trend, and the proportion of main business income has also increased. In 2016, in order to build silage machinery, water-saving irrigation machinery, plant protection machinery and potato machinery and other products, modern agricultural equipment research and development expenditure was 66,171,300 yuan, accounting for 4.68% of operating income.
However, modern agricultural equipment said that as international well-known agricultural machinery enterprises rely on product performance and quality to occupy the market in a big way, it is more difficult for enterprises to turn to loss and step into benign development.