2023 is coming to an end, and since the beginning of this year, many cement factories have no choice but to declare bankruptcy due to "insolvency". During the year, more than 60 cement companies were listed on the bankruptcy reorganization platformAmong them, there are many former famous enterprises. At this stage, the real estate recession, infrastructure investment is not as expected, cement,Sand and gravelThe concrete industry chain has been affected to varying degrees. The market activity continues to be sluggish, the first low level is hovering, the overcapacity area is gradually increasing, the downstream and related industries are frequently negative information, many sand and gravel companies have issued a sigh of "sand and gravel market encountered" cold snap "", and have shouted:Sand and gravel ** "freezing point" is coming!
According to previous newsFrom the beginning of this year to SeptemberThere are already inclusions11SandStoneEnterpriseDeclaration of bankruptcy or entry into bankruptcy proceedingsIn the face of such a situation, where will the next sand and gravel industry go?
11 sand and gravel enterprises declared bankruptcy or entered bankruptcy proceedings
Dongju Sand and Gravel Import and Export Lianyungang Co., Ltd., Dongju Sand and Gravel Import and Export Lianyungang Co., Ltd., Mishan Mulinghe Sand and Gravel Distribution Station, Jiayin Longchang Sand and Gravel Distribution, Taizhou Zhegang Sand and Gravel, Fuzhou Hengsheng Sand and Gravel, Fuzhou Henglu Sand and Stone, Chongqing Raymond Rock Sand and Stone Products, Guangxi Luyuan Building Materials Company Bankruptcy Liquidation Assets Second Auction, Jixi City, Jiguan District, Sunsheng Village Sand and Gravel Factory, Mudanjiang City, Heilongjiang Provinceand other sand and gravel enterprises and building materials enterprises are liquidated or enter bankruptcy procedures.
The cement ** has been falling endlessly, and the performance of the cement plant has declined seriously
Circulation field po 42.5 Bulk cement**
Data**: National Bureau of Statistics.
Affected by the continuous adjustment of real estate and the serious overcapacity of the cement industry, the volume and price of the cement market fell together. In the first three quarters, the national cement output was 149.5 billion tonsThe full-caliber decreased by 4 year-on-year32%, the output hit a new low in the past 13 years. In terms of efficiency, affected by the deep decline in cement ** and the decline in demand, the industry's efficiency has shrunk sharply, and the loss of cement enterprises may exceed 50%. Judging from the third quarter report of 19 listed companies in the cement industry, only two enterprises, Tower Group and Qingsong Jianhua, achieved profit growth, and five companies including Jidong Cement, Shanshui Cement, Yatai Group, **Tianlu and Fujian Cement suffered lossesThe profits of the remaining 12 companies fell year-on-year.
Profitability of 19 cement listed companies in the first three quarters of 2023
Data**: Financial reports of listed companies for the third quarter of 2023.
Receivables have increased sharply, and more than 1,600 downstream construction companies have gone bankrupt
It can be seen from the third quarter financial report data of various enterprisesDue to the increase in "credit sales", the accounts receivable of most enterprises have increased significantly. Among them, Conch Cement's notes receivable and accounts receivable in the first three quarters of 2023 are 137400 million yuan,A year-on-year increase of 5368%，Among them, 88 notes receivable9.2 billion, a year-on-year increase of 4071%, accounts receivable 485.3 billion, a year-on-year increase of 8493%。
List of notes receivable and accounts receivable of some listed companies
As of September 30, 2023.
Data**: Financial reports of listed companies for the third quarter of 2023.
Most of the listed companies are the leading enterprises in the industry, and the large decline in the performance of listed companies also means that the performance of the entire industry has declined significantly year-on-year. An increase in accounts receivable also means that some accounts are written off on credit or there is a "bad debt risk". At the same time, most of the non-leading companies in the industry have been struggling on the verge of bankruptcy for a long time.
From the perspective of the downstream market,In November, another 306 construction companies declared bankruptcy reorganization, and more than 1,300 construction enterprises that had been bankrupt and reorganized have reached more than 1,600. This also means:On average, more than 100 enterprises go bankrupt and reorganize within a month.
Note: This table is a summary of the information on the bankruptcy and reorganization cases of national construction enterprises from November 1, 2023 to November 30, 2023
Stimulated by trillions of national bonds, the cement market rose generally, up to 105 yuan tons
From the end market,The recent issuance of trillions of treasury bonds has greatly boosted market sentiment, and cement has changed its previous ups and downs, and has risen since December. Guizhou Qiannan, southeast Guizhou, Guizhou medium area cement ** increased by 30-105 yuan tons. A number of enterprises in Yunnan have notified an increase of **30-55 yuan tons. Dali, Lijiang, Diqing and other regions raised cement ** 30-40 yuan tons;Wenshan, Honghe, Qujing and other areas raised cement **50 yuan ton;Baoshan and Dehong areas raised cement **30 yuan tons;The Nujiang area increased by 30 yuan tons. Cement enterprises in Wuhan, Hubei Province and surrounding areas raised **10-30 yuan tons. Guangdong Zhanjiang raised bulk cement **10-15 yuan ton. Anhui Hefei, Anqing, Tongling, Chizhou, Fuyang, Huainan mainstream brand cement increased by 10-30 yuan tons. Suzhou, Huaibei, Xuzhou and other places in Jiangsu Province raised cement ** by 10-25 yuan ton, and the leading enterprises in Guangxi Beihai region notified the cement ** by 10-20 yuan ton. Hunan Hengyang, Shaoyang, Changde, Loudi, Xiangtan, Zhuzhou, Changsha, Yongzhou market cement ** increased by 10-30 yuan tons. Some kiln enterprises in Liaoning have notified an increase in clinker **10-15 yuan tons.
Notice of price increase of some enterprises.
The price increase has allowed some cement factories that are almost unable to hold on. Cement enterprises in various regions have quickly entered the stage of blood recovery, and individual small workshops that sell counterfeit and counterfeit and ultra-low prices have ...... "full blood".
Relevant industry sources saidAt this time, large enterprises and small enterprises, high cost and low cost are raised together. Large enterprises have increased their profits, and small and medium-sized enterprises have revived after blood transfusions, and the surplus is still serious. With such a rise and a trillion stimulus, there may be a "high starting point" in the first quarter of 2024. But it is not excluded that some companies have stopped production and holiday, and this round of price increases is lonely!
In the face of such a situation, where will the next sand and gravel industry go?
At present, the sand and gravel industry is not only suffering from the sluggish market demand caused by real estate, but also under the comprehensive influence of "overcapacity", large enterprises continue to enter, large mines continue to increase, and competition is intensifying, the sand and gravel market has seen the impact of "volume and price fall", and many sand and gravel companies have been unable to withstand bankruptcy.
Hu Youyi, president of the China Sand and Gravel Association, said, "At present, under the situation of economic downturn, the construction of large-scale stone mines in many places and the surplus of sand and gravel industry in some areasThe sand and gravel and equipment industry has entered a period of 'big waves and sand', and enterprises have to endure unimaginable tests and tribulations in the fierce competition.
The data shows that in the first half of the year, the total output of sand and gravel in the country decreased year-on-year;As of June 30, the national natural sand in the sand was 135 yuan tons, a year-on-year increase of 14%, the medium sand of machine-made sand is 95 yuan tons, a year-on-year increase of 78%, 16-25 mm gravel ** was 89 yuan tons, down 8 percent year-on-year25%。At the beginning of this year, the operating rate of the production line of the national sand and gravel mining plant fell at a high level, and the operating rate was 19% during the trough period, and began to rise slowly after the Spring Festival, until mid-March, the operating rate remained at about 60%, and the operating rate was 68% at the end of April, reaching a high point. Overall, in the first half of the year, there was an oversupply of mines, downstream demand was not as good as in previous years, and in the case of inventory accumulation, some mines and plants declined in terms of the number of start-up units or start-up time.
Although the market environment is not ideal, opportunities still await those who are prepared!Hu Youyi analyzedChina wants to reach 80% of the urbanization rate of developed countries, and it is expected that the urbanization rate will increase by one percentage point every yearIt will take about 15 years。From January to March 2023, the contract value of new contracted projects signed by Chinese enterprises in countries along the "Belt and Road" is 1,748900 million yuan, a year-on-year increase of 118%。There is sand and gravel on the construction site, and sand and gravel are used for projects, which is a big market for sand and gravel and equipment, and we must learn to find "opportunities" from the "crisis".
The big waves wash the sand, and the sinking is gold. In the face of the current development status of the industry,The development era of traditional extensive and rapid expansion is over, and high-quality development will become the main theme and the only choice for the sand and gravel equipment industry. Hu Youyi believes that the high-quality development of the sand and gravel industry needs to be reasonable and worth the moneyThe high-quality development of sand and gravel enterprises needs profits!Production cost is a key issue for sand and gravel enterprises to control in the future
In the future, the operation of sand and gravel enterprises should not only rely on innovation and development, but also be in line with the "conservative" and stable business ideas. Focus on corporate development strategy. Strategy is the direction of enterprise management, tactics is specific management practices, and strategy should follow the development trend of the market environment.
Trends determine strategy;
Strategy determines business;
The business decides the organization;
Organization determines talent!
Editor-in-charge |Liu Chai · Audit |Zhang peng.
*: National Bureau of Statistics, National Enterprise Bankruptcy and Reorganization Case Information Network, Cement People Network, China Sand and Gravel Association.
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