Iron and steel industry over 3 trillion of the total liabilities of a number of listing Corporation to withdraw from
Supply side reform has become the most concerned about the vocabulary, from the supply side of the structural reforms began to show. Today, the supply side of the reform and clean up zombie enterprise has become the focus of policy, continued to struggle in the steel industry to bear the brunt of the break line.
In recent years, steel prices rising debt ratio, profitability decline, once the phenomenon of loss of the entire industry. Current total liabilities of China's steel industry more than 3 trillion yuan, the average asset liability ratio of iron and steel enterprises in the 70% or so, even in the three quarter of last year, listed steel prices eight one steel appeared in debt ratio of 100% of the situation.
Listed steel enterprises in the iron and steel enterprises have obvious advantages in financing over the past 5 years, listed steel prices without a sustained loss of more than three years, does not belong to the category of zombie enterprises. But this is a false impression of government subsidies to cover, if eliminate government subsidies and stripping assets and other factors, according to the net profit after deduction of non estimates, 34 listed steel companies have several continuous 3 years or even for three consecutive years more than loss.
With a sudden turn for the worse situation in the steel industry in recent years, many iron and steel enterprises into comprehensive loss. Since 2015, the case of enterprises stripping steel assets increased significantly. It is worth noting that, to the supply side of the supply side of the structural reform of the first five tasks, but the staff placement and debt disposal and other issues, the steel industry will become a problem to be solved in the process of production.
Steel prices listed first is insolvent
Recently, the industry leader in Baosteel raised the 2016 2~3 month main steel products ex factory prices, or in the 60~200 yuan / ton range. At the same time, the steel market prices recently ushered in returning to the rally. But "my steel net monitoring of steel price data show that steel prices since 2011 in the overall downward trend, although meantime uninterrupted appear rebound in the market, but the composite steel price index after 5 years the overall decline in more than 6 percent.
Steel prices continued to fall, mainly due to overcapacity in steel. 2012 1, February, the steel industry has entered the new century for the first time in the industry wide losses, and in the next few years, the steel industry continued to struggle in the profit and loss line.
According to the China Iron and Steel Association statistics, in 2012 that year, China's key steel enterprises realized profit of RMB yuan, down 98.22%, of which the amount of loss of business losses of $. The latest data show that in the first 11 months of 2015, the total loss of key steel enterprises.
At the end of last year, the central economic work conference held in the central economic work conference, focus on promoting the supply side of structural reform. Categorically disposal of zombie companies, will reduce the excess capacity, has become a pressing matter of the moment.
So-called "zombie" companies, that is does not conform to the country's energy consumption, environmental protection, quality, safety and other standards and long-term losses in the industries with excess capacity; sustained losses of more than three years and does not conform to the structure to adjust the direction of the enterprises. In December 9th last year, the State Council executive meeting made it clear that the clean-up disposal of zombie enterprises, to achieve a significant decline in operating losses of enterprises by the end of 2017.
2017 year operating loss of business to achieve a significant decline in the amount of money, which means that steel and other industries to excess capacity to capacity, clean up zombie enterprises, the task must be achieved within two years.