In the first half of the year, the steel and steel enterprises of China Steel Association realized a year-on-year increase of 151.15% in profits. With the deepening of structural reforms on the supply side, this year the industry will not only reduce the capacity of 30 million tons, but also prevent the resurgence of “strip steelâ€, and shift from heavy-duty scale to heavy quality and low-end profitability. The situation has been reversed. At the same time, the green development of industrial enterprises has also achieved initial results. The 8th executive director (expansion) meeting of the 5th China Industrial Association held on the 25th, the good news came out. In the first half of the year, the China Steel Association members realized a total profit of 139.273 billion yuan, a year-on-year increase. 151.15%; the sales profit rate has basically reached the profit level of industrial enterprises above designated size. The long-term low profitability of the industry has been reversed.
As a basic raw material industry, the industry actively promoted the supply-side structural reform. In the first half of the year, the overall operation was stable and the overall performance was good, the benefits continued to improve, the structure was continuously optimized, and the high-quality development took a new step.
Eliminate backward release of superior production capacity
Recently, a number of listed companies released the first half of the performance forecast, highlights a lot. Valin (000932) expects to achieve a net profit of 3.38 billion yuan to 3.58 billion yuan in the first half of the year, an increase of 253% to 274%. Shougang's shares (000959) are expected to achieve a net profit of 1.42 billion yuan to 1.45 billion yuan in the first half of the year, an increase of 49.65% to 52.81%. The reason for this is that the structural reform of the supply side is indispensable.
A serious overcapacity is a prominent contradiction in long-term troubles and traditional industries such as coal. In 2015, the industry capacity utilization rate fell to 71.3%, and the whole industry was in a loss situation. “With the solid progress of capacity-removal work, the excess contradiction has been alleviated, and the capacity utilization rate has returned to a reasonable range.†Li Xinchuang, president of the Metallurgical Industry Planning and Research Institute, said that since 2016, the industry has reduced the crude steel production capacity by more than 120 million tons. It has banned about 140 million tons of “strip steel†production capacity, effectively purifying the market environment. In the second quarter of this year, the industry's capacity utilization rate reached 78.5%, an increase of 2.8 percentage points year-on-year.
Since the beginning of this year, the domestic macro economy has been steadily improving, supply and demand have been basically balanced, steel prices have been relatively stable, and superior production capacity has continued to be effectively utilized. The latest data shows that China's crude steel output reached 451 million tons in the first half of the year, up 6.0% year-on-year; the cumulative export of steel products was 34.53 million tons, down 13.2% year-on-year. From the perspective of key steel enterprises, in the first half of the year, the China Steel Association members realized sales income of 1.97 trillion yuan, a year-on-year increase of 15.33%; profits and taxes reached 214.493 billion yuan, an increase of 103.77%.
As the economic efficiency of enterprises improves, the company's asset-liability ratio continues to decline. At the end of June, the asset-liability ratio of member companies fell to 67.30%, down 3.97 percentage points year-on-year; the net amount of accounts receivable decreased by 7.68% year-on-year, and the net amount of accounts payable decreased by 6.51%.
If the industry situation is better, it will have to overcome the inertia of extensive development. This year is the deepening year of de-capacity. China must not only reduce the production capacity by 30 million tons, but also prevent the resurgence of “strip steel†and prohibit new capacity.
From the end of May to the middle of June, the member units of the Joint Conference on Resolving the Overcapacity Jointly carried out a special spot-checking work to eliminate the excess capacity of the industry and prevent the resurgence of “strip steelâ€. Judging from the spot checks, the relevant regions and their relevant departments have continuously strengthened the supervision of illegal and illegal production capacity, and the production of “strip steel†has been effectively curbed, but there are still weak links in some places. In the next step, the relevant parties will continue to focus on consolidating the results of the de-capacity.
New product development continues to make breakthroughs
Focusing on the long-term, the key to the development of the industry is to accelerate the transformation and upgrading, and to achieve quality first and efficiency first.
Yu Yong, the president of the China Steel Association, pointed out that the urgent need for the industry to move towards the mid-to-high end to improve the effective supply level of the industry is no longer a homogenized product with a large amount of coverage, but rather a personalized and differentiated demand. The main task is to fill the quality gap, enhance the quality advantage of development, innovate and improve the quality of products and services, and form a group of high-quality brand enterprises and products with international competitiveness.
In response to the shortage of high-end supply, the backbone enterprises are aiming at high-tech, hard-core and hard-core, and new breakthroughs in new product development and application. Baowu Group has developed and applied the world's largest high-strength pipeline steel with the largest caliber, the thickest wall and the highest steel grade. The main performance indicators such as average loss and magnetic induction of B20R065 brand-oriented silicon steel products are at the global leading level. Angang has developed and mass produced the first batch of Q420qF bridge steel with impact toughness of minus 60 degrees Celsius.
In order to better meet the needs of the transformation and upgrading of the downstream industry, many enterprises have been focusing on technological transformation and innovation, and continue to promote the adjustment and optimization of product variety structure. Since the beginning of this year, thanks to the high-quality, high-tech and high-value-added products, the Hebei industry has achieved “quantity reduction and increaseâ€. From January to May, in the case of crude steel, pig iron and steel production decreased by 7.52 million tons, 13.34 million tons and 4.04 million tons respectively, the Hebei industry realized a profit of 33.431 billion yuan, an increase of 119.66% year-on-year; It was 7.61%, an increase of 3.80 percentage points year-on-year.
Industry insiders lamented that in the past, the number of large-scale fights and the price of cabbage sold, the company is miserable. Nowadays, the quality is good, the market returns are good, and the whole industry has a high heart.
Strengthening environmental protection and promoting green development
Under the situation that the country vigorously promotes the construction of ecological civilization, as a “two high†industry, the industry is facing increasing environmental protection pressure, and it has become a strategic choice to continue to promote green development in the development of reduction.
Hebei Handan Iron & Steel Co., Ltd. firmly established and practiced the concept of “Green Water Qingshan is Jinshan Yinshanâ€. In recent years, it invested 13.8 billion yuan to implement 115 environmental protection and energy conservation projects. Nowadays, the greening area of ​​the plant area of ​​Handan Iron and Steel has exceeded 55%, and it has realized that “the mine does not see the mine, the coal does not see the coal, the material does not see the material, and the iron does not see the ironâ€.
Guo Jingrui, chairman of Handan Iron and Steel Co., said that the company will fully promote the production of clean, green and high-end products, and strive to become a green demonstration enterprise with good efficiency, high efficiency, low consumption, low emissions and beautiful environment.
Anyang (600569) company invested 3 billion yuan in 2017, using the most advanced technology, the most mature technology, the highest level of equipment configuration, high starting point for environmental protection transformation, covering all production processes. At present, Angang's coke oven flue gas treatment has reached the global leading level, and its related technologies are promoted throughout the industry.
“The industry has carried out a new round of environmental protection and upgrading. Through vigorously promoting advanced technology, strengthening internal management, managing unorganized emissions, and improving green coverage of the plant, the company has promoted a significant improvement in the environmental performance of enterprises.†Yu Yong said that In the half year, the amount of wastewater discharged from the members of the China Iron and Steel Association decreased by 4.14% year-on-year, the sulfur dioxide emissions decreased by 9.73%, the dust decreased by 8.5%, the industrial dust decreased by 12.38%, and the new water consumption per ton decreased by 5.71%. Consumption decreased by 3.76% year-on-year, and emissions of tons of steel particulate matter decreased by 16.18% year-on-year.
Although a group of key enterprises have made significant progress in energy conservation and environmental protection, overall, the green development of the industry is still in its infancy, and the problem of uneven development among enterprises is also very prominent.
It is reported that the "Three-Year Action Plan to Win the Blue Sky Defence War" has been issued and implemented in the near future. The Beijing-Tianjin-Hebei region and the surrounding areas, the Yangtze River Delta region, and the Yan Plains are the key areas to continuously implement air pollution prevention and control actions. The industry is listed as Key industries. With the continuous upgrading of environmental protection policies, the introduction of ultra-low emission standards will force steel enterprises to implement environmental protection technology reforms and improve environmental protection technology and management.
“Green transformation is the inherent requirement of enterprise development.†Li Xinchuang pointed out that there is still a lot of work to be done to truly realize green enterprises. The industry should consider the overall layout of the six-in-one "green mine, green procurement, green logistics, green manufacturing, green products, green industry" from the aspects of manufacturing process, product life cycle and all-round development of green industry.
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