The hottest agricultural machinery capital strengt

2022-07-30
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Abstract: there are three kinds of integration forces in the agricultural machinery industry, one is the acquisition of domestic assets by foreign capital, the other is the internal capital of the domestic agricultural machinery industry, and the other is the cross-border domestic capital

in 2016, the total output value of the domestic agricultural machinery industry was 460billion yuan, while the combined market value of several enterprises listed on the main board was less than 40billion yuan. It can be said that the domestic agricultural machinery industry is an industrial highland and a capital depression. According to the analysis of some experts, the main reason is that the degree of organization of the whole industry is very low, and the best way to improve the organization and centralization is to acquire the memory resources of the whole industry

in recent years, the agricultural machinery and equipment industry has attracted more and more attention from the capital market, and some institutions and investors are eager to enter. However, due to the particularity, closeness and relative backwardness of the industry, it can only linger at the door. It is precisely because of the low degree of organization and capitalization of the whole domestic agricultural machinery industry chain that the space for industrial capital operation is still very large

the concentration of the whole industrial chain of domestic agricultural machinery is low

in the process of transforming from a large manufacturing country to a powerful manufacturing country, China has built a complete industrial chain consisting of "raw materials, parts, semi assemblies, assemblies, complete machine manufacturing, circulation, logistics, users and aftermarket". From a global perspective, China's agricultural machinery industry chain is not only a part of the global agricultural machinery industry chain, but also maintains good independence, which is caused by the low degree of marketization in China, the particularity of the Chinese market and the low penetration of foreign parts enterprises into the domestic market

at present, domestic agricultural machinery manufacturing is in the stage of multi Oligarchic Competition, acting as the organizer and maintainer of the industrial chain. The market share of the top five companies in the industry is 23%, and that of the top ten companies is 35%, which is the most organized link in the whole agricultural machinery industry chain. Only with a high degree of organization can we have a say, so this link can lead the development of the industry chain

for example, Lovol heavy industries is the core of the combine harvester industrial chain in Weifang, Shandong Province. The upstream and downstream parts and components and circulation of the overall manufacturing are in the position of being followed and led, but this balance of power is changing

the circulation of domestic agricultural machinery is in the stage of full competition. There are more than 10000 enterprises in the whole industry. However, except Jifeng agricultural machinery is a national chain enterprise, other enterprises are regional and local enterprises. The disordered competition in the whole industry is very fierce, and the degree of capitalization is low. Therefore, it is urgent to improve the degree of organization, and the means of capital should be the most direct and effective

integration will become the mainstream in the future

2016 agricultural machinery industry operation index was released: industrial added value increased by 7.7%, down 0.7% from the previous year, and the growth rate decreased significantly; The total main business income of agricultural machinery enterprises was 451.639 billion yuan, an increase of 5.8% over the same period of last year, 1.64 percentage points lower than that of the national machinery industry; Agricultural Machinery Enterprises above Designated Size achieved a total profit of 25.524 billion yuan, an increase of 351million yuan over the previous year, an increase of only 1.39%, 4.15 percentage points lower than the profit growth of the national machinery industry. In 2016, the income and profit growth of agricultural machinery industry showed a weak trend, reaching the bottom in the past decade

first of all, let's introduce its hydraulic system in the growth and rapid development period of the industry. The opportunity of the industry lies in the industrialists. As long as you focus on a good project and invest capital, land and labor, you may have a good harvest. However, the low-speed development of the domestic agricultural machinery industry in the later period will not be a "labor pains", which is likely to be a new normal. At this stage, there are fewer investment opportunities in the industry. If there are opportunities in sub sectors, a large number of opportunities should be the integration of stock resources and the high-precision group of temperature control

in fact, since 2004, a number of powerful enterprises have grown up in several links of the agricultural machinery industry chain. Whether in the whole machine manufacturing sector or in the parts sector, there are many specialized enterprises with an output value of more than RMB 100million. Many of these small and medium-sized enterprises have global competitive strength and have good growth, and are "delicious" in the eyes of domestic and foreign capital. It is understood that several large domestic agricultural machinery parts manufacturing enterprises almost have transnational parts bosses in contact with them, and some have been pocketed. For example, Yituo Chuang technology, which produces axle, has been purchased by Germany caiyifu

there are three kinds of integration forces in the agricultural machinery industry. One is the acquisition of domestic assets by foreign capital, the other is the internal capital of the domestic agricultural machinery industry, and the other is the cross-border domestic capital

according to the history of mergers and acquisitions of domestic agricultural machinery industry in the past 30 years, foreign capital's mergers and acquisitions of domestic agricultural machinery enterprises are the mainstream, mainly European and American capital, and mainly mergers and acquisitions of similar items of industry capital. The famous mergers and acquisitions are that John Deere of the United States bought and acquired Tianjin tractor factory and Jiamusi harvester factory in the 1980s, and Ningbo Benye in early 2000, In addition, krass of Germany acquired Shandong Jinyi Chunyu and AGCO acquired Dafeng. However, from the effect of opening the power switch of the measurement and control box first after the acquisition, the acquisition of domestic capital by foreign capital was not very successful. In particular, John Deere's acquisition basically ended in failure and was a "double loss". The acquiree Chinese enterprises not only did not get the technology and products they dreamed of, but also lost the channel, brand and the team with the maximum stroke (mm) of 9 pistons, What is more sad is that these enterprises have also lost the development period of China's "golden decade" of agricultural machinery

according to experts' analysis, in the next decade, when domestic agricultural machinery enterprises look for partners, the opportunities for foreign investment may become smaller, and the baton of capital integration in the domestic agricultural machinery industry will shift from foreign investment to domestic capital

there are deep-seated reasons for this change: first, the domestic agricultural materials industry has already had its own capital platform. According to incomplete statistics, there are about 15 listed companies on the main board related to agricultural machinery in China, and more than 40 on the new third board. These listed companies have cooperated with Hony capital, Jiuding capital, CITIC Securities, Southwest Securities and other capital to establish industrial M & a funds, A series of mergers and acquisitions will be carried out for the stock resources of the agricultural machinery industry

the pace of globalization has accelerated.

in the past, the domestic agricultural machinery industry has been a one-way flow of foreign capital to China for a long time, that is, only foreign capital purchases domestic capital instead of domestic capital, but now the situation has changed

the change began with Yituo Co., Ltd., the largest tractor manufacturer in China. In 2011, Yituo Co., Ltd. wholly purchased McCormick, a French power train manufacturer. Now, Guosan products equipped with McCormick transmissions have been sold in large quantities worldwide. In 2015, Lovol heavy industries, another giant agricultural machinery enterprise in China, acquired apos, an Italian national treasure agricultural machinery brand, and the cross-border mergers and acquisitions of matemark, an agricultural machinery enterprise, and Gordoni, a high-quality tractor brand, gave the global agricultural machinery industry a glimpse of the power of China's agricultural machinery capital

according to the analysis, in the future, the domestic agricultural machinery capital will face the capital mergers and acquisitions of Europe, America, Japan and South Korea, and the direct investment will increase. The one-way flow of capital for a long time is expected to change. China's agricultural machinery industry will change from learning technology and introducing products to cross-border direct industrial mergers and acquisitions. The pace of globalization of China's agricultural machinery industry will also accelerate, and China's agricultural machinery manufacturing will appear in the global agricultural machinery industry chain in another role

in any case, China's agricultural machinery has become an important link in the global industrial chain. At the same time, the capital power of China's agricultural machinery has also risen. The voice of Chinese enterprises will be included in the global capital integration

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