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Copper Tube Information

Company dynamics

brass tubes for clock weight

author:MF manufacturerstime:2022-03-17 19:32:42

brass tubes for clock weight

Da River·Dahe client reporter Zhou Shilong

Southwest Wanzhou,close318state Road。

Jinlong Precision Bronze Tube Group Co., Ltd.(Next:Jinlong Group)The new factory site in Chongqing Wanzhou Economic Development Area is in the middle of the mountain,The Panshan Highway is like a river that runs through Wanzhou.,Nine songs。

2017year12moon28Day morning,In front of this new factory door from two thousand miles away from Henan Xinxiang,A signing ceremony that matches the fate of the company。Chongqing Wanzhou District Government officially restructured the Jinlong Group in the case of absolute controlling conditions,Let the latter out of the long debt vortex completion of Nirvana。

This private enterprise ranked first in Henan、Precision copper tube global leader company announcement“Take off”,Become a veritable Chongqing company,Corporate nature will also transfer from private enterprises to state companies。A series of organizational organizations will also be launched。

Pepsi-tolerance,Golden Dragon Group Founder、Chairman Li Changjie can't see a trace of tired face。Maybe in order to find a good sign。Last month28Japanese ritual process file,The time of the contract is written into a precise and Geely figure:9:18。But entrepreneur is not a faith。Real time,No people don't care。

First night,Li Changjie and Chongqing Wanzhou have held a meeting in the local area。He is accompanying the son Li Jianping and Jinlong Group executives who are the general manager of the Jinlong Group.,Also reported with the Dahe·Dahe Fortune Cube reporter has a short exchange。That night,Perhaps they have the last time they are in the media in the media.。Various equity conversion、Involutionary detail needs to be followed。There are still many things in front of Li Changjie.。

“Can work with Chongqing Wanzhou District Government,It is the best ending of Jinlong Group。”Li Changjie said。

Flower falls Chongqing

Recombinant ceremony is launched。Li Changjie, who once created this global copper pipe industry,No speech in the whole process。

“I don't have the door, I'm going to go downhill.,Come here for almost a year.,Still a little uncomfortable。”An old home in Henan,Jinlong Group personnel who came to Chongqing early early told reporters。

(brass tubes for clock weight)2017year12moon28Day morning,Recombination ceremony and annual output8Tenh Tons Precision Bronze Tube Tong Holder Project is held in Chongqing's new site in Jinlong Group.,This marks a large-scale manufacturing private enterprise Jinlong Group, which was a Xinxiang, Henan Province, officially married Chongqing.。Recombinantly,Most of the assets of Jinlong Group in Xinxiang, Henan will move to Chongqing.,Including research and development institutions such as existing management teams and postdoctoral workstations。

Jinlong Group is an innovative manufacturing company headquartered in Xinxiang, Henan,It is the faucet in the field of refined copper tube,The market share is in the country。

This company has also been“Chinese people enterprise500powerful”The first company in Henan in Henan。

(brass tubes for clock weight)However,In recent years, the problem of capital flow breaks,Let the company have fallen into the sleep。Founder of Jinlong Group、Chairman,Li Changjie,Several degrees,Several turnover,Finally, I have reached a strategic cooperation in Wanzhou District, Chongqing.。

The ceremony is short and grand。

Li Changjie, who once created this global copper pipe industry,No speech in the whole process。

(brass tubes for clock weight)In half an hour,Wanzhou District Government leaders get a speech,The two parties officially signed。Subsequently,All participants collectively visited the entire processing and production process of precision copper tube products in the factory.。

Jinlong copper tube first phase project put into production on the same day,Land100Mu,project total investment13.8Billion,Building three precision copper pipe production lines。Production line equipment comes from Finland、Italy、America、Japan and other famous equipment manufacturers,Coupled with Jinlong Group's patented technology,After completion, it is expected to be the most advanced in the global industry.“Cast rolling method”Copper pipe production line。

This is the most proud technology chain of Jinlong Group.。All three production lines have been put into production,Copper pipe production capacity will be reached8Tens of tons,Sales income will reach35Billion,Realization of taxes per year5400Ten thousand yuan。

Chongqing, which is building a national important modern manufacturing base,It is quite satisfactory to this world-class refrigeration, precision copper tube manufacturing leader.。

It is reported that,In addition to the above items,Plus, there is already settled in Wanzhou、Invest3Yiliu Jinlong Copper Trade Project,Outside of tax,Also arrange500Wake jobs,It is expected to drive the development of related industries。Participate in signing activities on the same day,Also multi-government、Bank people。

Early contact with Chongqing,It is also a foundation for the Jinlong Group's restructuring.。This reorganization has also passed the 2 years of docking。

(brass tubes for clock weight)Wanzhou Economic Development Zone is said,Afterwards, I have been cooperated with Jinlong Group.、Production transfer cooperation、Capital cooperation,Jinlong Group has achieved an increase in orders、Profit improvement。They expect,After this reorganization,The Jinlong Group will further expand effective capacity。

(brass tubes for clock weight)A game“storm”Creative crisis

“The company is in great development、Dacheng。Uncomfortable disaster,I don't blame.。”Li Changjitan Chen's own risk premise in the future in business decision。

The Queon Group's predecessor is a collective enterprise in the suburbs of Xinxiang, Henan——Xinxiang Oxygen-Oxygen Top Factory。

1994Year end,Enterprises are not good for operation,Asset debt ratio116%。At the time, the Xinxiang Municipal Party Committee used him as a reform pilot.,Li Changjie was elected by the staff of the staff。

This is a deadly。But after decades of development,The Jinlong Group has been layout throughout the world.26Brass production line,The annual copper pipe is achieved55Tens of tons,The highest sales revenue reached380Billion,Become a veritable industry faucet。

It can be said,Li Changjie created this business miracle one hand,Make Jinlong Group grows rapidly,No one。

However,A heavy asset company is running wildly,Also buried in the next accident。

(brass tubes for clock weight)Such a paragraph in the Jinlong Group's prospectus,Reflecting the Jinlong Group2012I have a research judgment on the market situation.:

(brass tubes for clock weight)“In recent years,With air conditioning、Terminal product consumption market such as refrigerators continues to increase and the market recognition of company products,Customer orders received by the company often exceed existing production capacity。”

Industry insiders,Market status,Mainly benefited from moderate loose monetary policy、Industrial upgrading wave and a series of environmental factors such as home appliances。therefore,Even if the fund is stretched,The Jinlong Group is still continuing to expand production capacity.。

2014year5moon28day,Jinlong Group in Wilcos County, Alabama, USAPineHillTown investment1Best US dollar6Ten thousand tons of precision copper pipe project completed。The project is the first investment project in my country's copper pipe processing enterprises in the United States.,It is also one of China's largest investment in the United States so far.。

This section is the period of Jinlong Group。However,Heavy asset is an advantage,Also。

Jinlong Group's funds are mainly from short-term borrowings in banks.,High financing cost,Whether it is expanding the creom production capacity or investment new energy,Need support for long-term funding。Short loan,Jinlong Group is getting more and more。

Storm。

2014year6moon,Use copper imported false warehouse list repeated mortgage loan Qingdao Port financing deception case incident,Many banks have begun to narrow the scale of non-ferrous metal raw materials,Jinlong Group as a copper processing company“Lying gun”,Bank loan is taking back。

Less than a year,Financial institutions compress the credit size of Jinlong Group、Reduce flow finance20Billion。Cause Jinlong short loan long investment30Billions of yuan,One degree is facing the risk of chain breaks。

in addition,2013Annual Jinlong is ready to list,The pre-examination has passed,Jinlong advances use short-term bank loans to build a fundraising project approved by several national development reform committees,Originally plans to replace it immediately after listed funds raised。due toIPOStop,Not only these projects may be wasteful,America、The copper plant in Mexico's investment may also suffer more than2Billion dollars huge losses。

In the most difficult time,Li Changjie also implemented self-help:Implement management adjustment from the internal,Self-discovery20%Non-productive employees and functional department management personnel of all subsidiaries of the group,Guaranteed to reduce expenditure annual3000Ten thousand yuan;Decompose the company's business indicators to the factory、Team and individual,Eliminate all waste, etc.。

Even so,The gap is still very large。2015Reorganization of Hengliang Shares,Let the Future of the Golden Dragon Group is full of variables。

“The company is in great development、Dacheng。Uncomfortable disaster,I don't blame.。”2017year12moon27Day late,Li Changjie is in the words and the Tange Chen Chen,Insufficient risk of future risk in business decision。

(brass tubes for clock weight)Capital desire and misplacement

(brass tubes for clock weight)The most important reason for Jinlong's marriage is that the fund chain,IPOFilter is one of the biggest heart diseases of Li Changjie。After new reorganization,He still looks forward to Jinlong to be available within three years.。

The media meeting before signing,Li Changjie told Da River·Dahe Fortune Region,After the recombination is completed,Jinlong Group will actively plan,Expected2020Successfully listed ago。

(brass tubes for clock weight)“Listed”,Li Changjie15The key words repeatedly mentioned in the year。

Li Changjie's strong desire to the capital market,In the history of the development of the Jinlong Group for decades,Performance。

In the precision copper pipe industry,High revenue is normal,The profit is also normal。This home is separated from the loss vortex,Relying on technological innovation to successful companies,One level, heavy debt,A little bit of smashing industry profits,Sungling。

Jinlong precision copper tube is mainly engaged in the production of precision copper pipes and its deep processing products.、Sales and electrolytic copper sales business,In this industry,Flow cash is critical to the continued production of enterprises。2012Annual Jinlong Group,Company proposed fundraising35Billion,6Pen funding for the construction of copper pipe projects,Another7.5Billion huge fundraising is for the red bank loan。

Production capacity continues to expand,Low gross profit margin,It is the core reason for the Changlong Group for a long time.。

(brass tubes for clock weight)2009Year2011Years,The business income of the Jinlong Group is152Billion、232Billion、350Billion,But the three-year business profit is only1.54Billion、1.97Billion1.50Billion,The main business comprehensive gross profit margin is only5.3%,5.02%,3.62%,The asset liability rate is high77.78%、77.23%、76.40%。

This situation,Not only, Li Changjie's heart has the greatest pain point for many years.,It is also determined by the characteristics of the entire precision copper pipe industry.:As a metal spare parts processing enterprise,Upstream is subject to raw material supply,Downstream is subject to large manufacturing market demand for home appliances,At the same time, you must always face the challenge of competitive world.。It is inevitable that the bargaining capacity and profit margin are compressed。

Due to the heavy assets of Jinlong Group、Low gruff,And the funds in the process of enterprise development,Li Changjie is at least from5Ago,Just plan to plan。

5Years ago2012year4moon24day,The SFC disclosed Jinlong Precision Copper Tube Group Co., Ltd. first publicly issued a stock prospectus。Psycho1.4Billion,The total share capital is not exceeded after the release5.6Billion,Goal is to pay。This Jinlong Group is proposed35Billion yuan,Initiate5Six projects such as tons of precision aluminum projects。

But after this prospectus released,I have a few accidents happened,Make the road thorns of the Jinlong Group's listing。

(brass tubes for clock weight)One is the reporter's written report to the media,There are a series of problems in Jinlong Group, known as listed.,then10moon24day,Jinlong Group Supplementary Pre-disclosure Material Show,After the first pre-disclosure,Jinlong Group added a number of major lawsuits,Patent and honorary infringement, etc.。Thereafter,Intermediary agencies in the reporting documents,And errors occur when writing a declaration。finally,Jinlong Group's first shockAShares ended。

Later two years,It is still a fall against falling。2015year1moon8The Daily Regulatory Commission is announced《The first public issuance of stocks in the COSCO, the basic information of state enterprises》middle,The public still did not see the name of the Jinlong Group。

Direct listing,Another capital chain crisis,Li Changjie has begun to seek the company's marriage curve docile capital market,This is the biggest movement is the Hai Liang shares acquired two years ago.。

(brass tubes for clock weight)2015year11moon17day,AStock market、The second enterprise of the domestic precision copper tube ranked the second company revealed the reorganization plan with Jinlong Group,Proposed price32.5100 million yuan to buy Jinlong Shares100%Equity。

Things have been abrupt in a year later。

Reasons for restructuring failures,Announcement explains:Bi Jinlong Shares in the original transaction base day(2015year5moon31day)There is a case where there is a relatively non-operating fund occupancy,to2015year12moon31Daily related party non-operating funds occupied funds increase,And unable to resolve in the short term。at the same time,The external economic situation has changed since the original trading base,The parties cannot agree on the trading scheme adjustment within a scheduled time.,Transactions have been difficult to continue。

Hailiang disclosure:As of2015year5moon31day,Jinlong Shares's funds have14.8Billion。After the debt debt reorganization,Form Li Changjie, Chairman of Jinlong Shares, personal debt of this fund。

Da River·Dahe Cai Cube reporter learned,The solution proposed at the time was,Hailing Co., Ltd. resolves funds occupied by paying asset prepaid methods by paying shares,That is, the total amount paid to the natural person shareholders of Jinlong14.8billion in advance,The payment was accepted by Li Changjie on behalf of and directly repaid to Jinlong shares.14.8billion in debt。

This is not a small sum。

According to insiders of the Golden Dragon Group,It is due to the company's layout of the new energy industry,with a view to the diaphragm、A complete industrial chain is formed on power batteries and lithium-ion vehicles,This funding has long relied on copper tube project blood transfusions,caused about15billion-dollar funding gap。

The edge of the south

Chongqing said that it would“pull up”,Not only help Jinlong out of trouble,It can also achieve the strategic purpose of gathering manufacturing industries in Chongqing。2016year5month starts,The local area has successively sent a number of professional working groups to Jinlong Group to investigate,2017year7The reorganization plan was officially finalized。

(brass tubes for clock weight)finally,Jinlong Group successfully reorganized with Chongqing Wanzhou in crisis。This goes back to Li Changjie and Chongqing10Fate many years ago。

2006year8moon,Golden Dragon Group has invested in15100 million yuan to build Longyu Precision Copper Tube Company in Chongqing,The company's annual output of copper pipes is nearly6tons,It is a well-known enterprise in Chongqing。State leaders have also visited here for inspection and guidance。

(brass tubes for clock weight)After learning about the difficulties of the Golden Dragon Group,Chongqing said that it would“pull up”,Not only help Jinlong out of trouble,It can also achieve the strategic purpose of gathering manufacturing industries in Chongqing。

Wanzhou District Government is keenly aware of the opportunity for strategic restructuring。2016year5month starts,The local area has successively sent a number of professional working groups to Jinlong Group to investigate,2017year7The reorganization plan was officially finalized。

Wanzhou in the northeast of Chongqing,It is an important Three Gorges immigrant bearing area.。the whole area3457square kilometers,Jurisdiction52Gezhen Township Jiedao,Total population17610,000 people,It is the largest management unit in Chongqing、most populous、Districts and counties with the largest urban volume。

Although the place is located in the southwest hinterland,With the construction of high-speed rail network in recent years,The traffic location advantage is also more obvious。Yudong、Chuandong、Hubei、Qianbei、Southern Shaanxi、Comprehensive transportation hub and material distribution center in western Hunan,Owning the golden waterway of the Yangtze River、Airport、railway、highway、Deep water port terminals and customs ports。It is one of the four major hub ports in Chongqing.、The only perennial deep-water good port among the main hub ports in the upper reaches of the Yangtze River,Open to traffic and high-speed railway under construction2strip。

Wanzhou Economic and Technological Development Zone, where Jinlong Group is located,Formerly known as Chongqing Wanzhou Industrial Park,2010year6moon,Approved by the State Council to upgrade to a national economic and technological development zone。

Wanzhou's local industrial base itself is relatively solid,The Economic Development Zone also quickly formed energy building materials、Specialty Chemicals、Car manufacturer、Lighting electrical、Equipment manufacturing and other industrial clusters。Currently,Enterprises in the area269Family,Among them, industrial enterprises above designated size83Family。

(brass tubes for clock weight)It is reported that,Wanzhou has acquired the Golden Dragon Group in the early stage5.53%of shares(This part of the shares was originally held by Hailiang Group),At the same time, it also acquired Cameron, a joint venture between the group and Germany to produce high-end copper strips.16%of shares。Jinlong Group Wanzhou relocation and construction team has been established,The change of Jinlong's registered place to Wanzhou has been completed,Financial tax registration、Change procedures such as human resources insurance will also be completed soon。

2017year12late month,Wanzhou Economic and Technological Development Zone has been in accordance with the agreement between the two parties,acquired90%The above shares of Jinlong Group。

Wanzhou's Congenital Conditions,Can carry the whole industry chain transfer of Jinlong Group,Showed full sincerity to the arrival of this private enterprise in Henan,A series of policies have been proposed、financial support plan。

Through the early help of the Wanzhou government,Jinlong Group finally broke out of the haze of years of losses,gained profit。Li Jianping, general manager of Jinlong Group, told Dahe Daily·Dahe Finance Cube reporter,2017The annual output is nearly50tons,expected profit1.8billion。in addition,Introduction of Li Jianping,The restructured Golden Dragon Group will adjust its products to、Resource structure is the focus of work,strive for2018Annual goal of doubling profits。

Reflection and Rebirth

this71The most comforting thing for the elderly is“No interest is owed to the bank for three years”and“the most difficult time,The core team does not disperse,Core technology is not lost,The market is also expanding”。

Whether it is2008Introduced strategic investor Standard Chartered Bank、Goldman Sachs and Lehman Brothers25%equity,The bankruptcy of Lehman Brothers;or repeated failures、“lie down”Qingdao Port Financing Fraud Case、Mergers and Acquisitions Hailiang CoincidenceAStocks tumbled……on the way of development,The Golden Dragon Group has indeed lost some luck.。

“in the face of disaster,rarely if ever。”Li Changjie, who is over seventy years old, said in retrospect,“Jinlong Group is a strong player in technological innovation,but relatively weak in the use of capital,Poor resource integration ability。no wonder others,We can only blame us for having a shallow understanding of the capital market.,way less,slow pace,And the company is expanding too fast before the food and grass are gone.。”

As Wanzhou reached a controlling stake in Jinlong Group,Li Changjie will inevitably lose absolute control over the company。

From state to private,re-state,when everything is about to end,What Li Changjie feels most relieved is that“No interest is owed to the bank for three years”and“the most difficult time,The core team does not disperse,Core technology is not lost,The market is also expanding”。

he thinks,These are the most important precipitations of the company for decades,It is also the biggest motivation for the Wanzhou government to target acquisitions.。

Jinlong Group can develop for 20 to 30 years and stand firm,Confidence lies in innovation,From manufacturing to creation to intelligent manufacturing,Achieved“triple jump”,Developed high cleanliness fluorine-free copper tube、super fine diameter、A series of high-tech products such as a series of high-efficiency heat transfer internal threaded pipes such as thin and high teeth……

Currently,All functional departments of the company's Xinxiang headquarters、Three cores of copper tube technology research and development“Chinese Academy of Sciences Copper Tube Engineering Research Center”、“Jinlong Group Applied Science and Technology Research Institute”、“Jinlong Group Postdoctoral Workstation”The relocation of Chongqing is in full swing。Predictably,The technical gene injected by Li Changjie, an engineer, into the Golden Dragon Group,will be continued in Chongqing。

(brass tubes for clock weight)at the same time,from2000The lithium battery new energy industry, which has been deployed across industries by Jinlong Group since 2008, is also expected to show greater energy.。

17years,Jinlong Group's deep cultivation in the field of lithium battery diaphragm products,dry process、wet process、Coating the three major products,Comprehensive coverage of the power battery market。2016The annual production and sales output of dry process diaphragms reaches more than 100 million square meters,The output is ranked first in China。Dynamic lithium ion battery year production capacity1.8Yi'an,Supply new energy vehicles and energy storage, etc.。

(brass tubes for clock weight)According to the agreement,This time, Wanzhou restructuring Jinlong Group,No new energy sector for non-operating related transactions。In the first half of last year,China Ping Coal God Marta Group in the New Energy Field of Long-Term Layout is taken over in Xinxiang Municipal Government,Also docked with the Jinlong Group,Exhibit its lithium-related business。

For this restructuring,Relevant people in Xinxiang City, Jinlong Group,Xinxiang is the national fixed-point new energy building city,Jinlong Group has this property,After all, I solved the way out of the traditional industry.,And Jinlong Group's new energy project in Xinxiang,Currently show the power of vitality,Xinxiang Municipal Government has been vigorously promoting its development,“How to introduce strategic investment,Do a good job,The relevant departments are actively planning”。

“Leisure Tan shadow,Change the star shift a few degrees。”Back to the business thirty years history,Li Changjie, who has graduated from Zhengzhou University theory, and Li Changjie.《Teng Wangge poetry》,“Guo Taiming and I speak,Victory is not a future developed teacher,Don't be too pessimistic,lay down,In exchange, it is awake。”

World's refugee。Reporter from71I read a little meaning in the sigh of Li Changjie.。

Take the past,Yuanshi Gao Road,Like a beautiful peak of Bashi、Vast。

Jinlong Group's main node

2017year

Wanzhou Economic Development Zone according to both parties,Acquire90%The above Jinlong Group Shares

2016year

Wanzhou District Government sent a number of professional working groups to Jinlong Group,same year7Monthly fixed restructuring plan

2015year

Hai Ling shares M & A Jinlong Group,Ended with failure

2014year

Investment in Alabama in the United States1Best US dollar6Ten thousand tons of precision copper pipe project completed。same year“Qingdao Port financing deception”Event outbreak,Bank contraction loan,Jinlong Group broke off debt crisis

2012year

(brass tubes for clock weight)Jinlong GroupIPOFirst shockAshare,Proposed35Billion yuan,Endlessly

2009year

Established Suzhou Longyue Yue Vehicle Co., Ltd.、Henan Lithium Power Co., Ltd.

2008year

Pandem、Goldman Sachs foreign financial institution investment

2006year

Establish Chongqing Longyi Precision Copper Tube Co., Ltd.

(brass tubes for clock weight)2004year

State-owned Pingchuan Winery、Xinxiang Electric Tools Factory、Weihui Tools Factory、Suzhou Canghuan Copper Company and other state-owned enterprises,Jinlong Group has gradually restructured into private joint-stock enterprises by the national-owned collective nature

(brass tubes for clock weight)1994year

Li Changjie,China's first、World second cast rolling methodACRCopper pipe production line——Key national plan projects and national key new product plan projects

1987year

Xinxiang Oxygen-Oxygen Top Factory(Jinlong Group predecessor)Establish,Introduced Finnish upper-leading oxygen-free copper rod production line

source:Dahe client