Continuous losses were forced to transform Hebei Iron and Steel cross-border LED competition
For Yu Yong, the “new head of Hebei Iron and Steel Groupâ€, the largest steel company in China, the biggest problem facing him now is how to fulfill his commitment to “completely turn losses in 2014 and fully profit in 2015†after he took office.
As a result, Hebei Iron and Steel Group announced that its Tangshan Iron and Steel and South Korea's Posco companies have jointly formed a new company to formally enter the domestic LED market. Analysts pointed out that it is understandable that steel enterprises to develop non-steel industry to make up for the loss of the main business. However, due to the large number of branches and the scattered structure of Hebei Iron and Steel, how to integrate the development of non-steel industry will be a major problem in the face of bravery.
Joining hands with South Korean steel giants to enter the LED
Near the end of 2013, Hebei Iron and Steel Group announced that its Tanggang Chuangyuan Fangda Company and South Korea's Pohang ICT Company jointly established Tanggang Pohang (Tangshan) New Light Source Co., Ltd., and officially entered the LED industry. This is the first investment decision of Hebei Iron and Steel Group since the personnel earthquake in December last year, the new "head" Yu Yong took office.
Hebei Iron and Steel Group and South Korea's Pohang Iron and Steel Group, one is the largest steel company in China, and the other is the largest steel company in South Korea. The two major steel giants joined the “cross-border†to enter the LED industry, and the two sides have confidence in this “marriageâ€. Full, it shows the "ambition" of the LED industry.
Tanggang Chuangyuan Fangda Company told Netease Finance that the new company will eventually reach the number one goal in the Chinese lighting market. Zhao Fenglai, president of Pohang ICT and general manager of Pohang LED, said that the new company will achieve profitability in 2014, “achieving the goal of ranking first in China's lighting market within five years, and even becoming the world's number one LED lighting companyâ€.
It is reported that the total investment of the joint venture project is 61.26 million yuan, which is jointly invested and managed by Tangshan Steel and Posco and is responsible for sales in the Chinese market. Its products are positioned as high-end LED lighting products with energy saving, longevity and high efficiency.
The initial design scale of the company's project is 379,000 sets with an annual output value of 207 million yuan. Tanggang Chuangyuan Fangda revealed that the new company’s medium-term goal is to achieve a sales income of 500 million yuan, and the latter and Posco will invest again as needed.
In addition, as early as 2012, Tangshan Chuangyuan Fangda Company conducted a one-year research and development on LED technology and had production conditions. According to the profile of Tangshan Chuangyuan Fangda Company, Tanggang Chuangyuan Fangda Company is a non-steel industry of Tangshan Iron and Steel Co., Ltd., responsible for the production of power equipment, cables, electrical appliances, and automation instruments.
According to the information disclosed by Posco ICT, Posco began to get involved in the LED industry as early as 2009. Its self-proclaimed LED lighting production technology is in a leading position in the world, and 179 technical patents applied for registration in Korea are applied abroad. There are 58 technical patents, and the proportion of patents applied to products in 2012 is as high as 79%.
“Pohang LED is at the forefront of technology in terms of technology and has a number of patents and know-how.†“Tanggang chose Posco for Posco’s brand and high-end technology; Posco’s choice for Tang Steel is Chuangyuan. Big market possession," Tang Gang Chuangyuan Fangda said.
Hebei Steel's "new head" vows to turn losses to develop non-steel industry
In fact, the joint launch of Pohang into the LED was in the planning of Tangshan Iron and Steel in the first half of last year, and Yu Yong, who was also the chairman of Tanggang, participated in the signing of the letter of intent and the signing of the joint venture contract from the initial negotiation to the subsequent signing of the cooperation letter of intent. . According to people close to Tangshan Iron and Steel, "LED industry is an important project in Tangshan's non-steel industry planning."
It is reported that Tangshan and Pohang started talking about LED cooperation as early as May 2013. On June 3, 2013, the two parties signed a letter of intent for cooperation, and on September 12, 2013, they signed a joint venture contract.
According to the data, Yu Yong has been working in Tangshan Iron and Steel. He has served as the director of the iron and steel plant of Tangshan Iron and Steel Co., Ltd., assistant to the general manager, executive deputy general manager and general manager. In 2012, he served as general manager and party committee deputy of Hebei Iron and Steel Group. Secretary, and chairman and general manager of Hebei Iron and Steel Group Tangshan Iron and Steel Group Co., Ltd.
It is worth mentioning that on December 9, last year, Hebei Iron and Steel Group experienced a mass earthquake. On the same day, the Hebei Provincial Party Committee and the provincial government announced that Yu Yong had replaced Wang Yifang as the chairman and party secretary.
The former "head" Wang Yifang left Yu Yong, Hebei Iron and Steel will soon have to announce a loss for two consecutive years. According to data provided by people from Hebei Iron and Steel Group, the Group was established in 2008 and the Group continued to make profits in 2008. In 2012, the Group's operating income decreased from 250.3 billion yuan in the previous year to 247.8 billion yuan. The annual profit of 2.923 billion yuan has turned into a loss of 522 million yuan. The person said that although the financial data of Hebei Iron and Steel Group was not disclosed, it is expected to be a loss in 2013.
Yu Yong emphasized in the group meeting on December 9 that “to achieve the full turnaround in 2014 is the Group’s current biggest goal and the biggest politics, and it is the overriding central taskâ€. For Yu Yong, the biggest problem facing him now is how to fulfill his commitment to “resolutely realize the full turnaround in 2014 and overall profitability in 2015†after taking office.
"It is expected that Yu Yong will develop the non-steel industry after he serves as the chairman of Hebei Iron and Steel." It is close to Tang Gang's speculation that Yu Yong will continue to serve as the chairman of Hebei Iron and Steel Group. "Development of non-steel industry" strategy.
The aforementioned person close to Tang Gang said that Yu Yong was considered inside the Tangshan Iron and Steel Group as the earliest person in the Chinese steel industry to propose the concept of non-steel. In 2010, during his tenure as general manager of Tangshan Iron and Steel Co., he proposed that Tangshan Steel should start planning non-steel industry. In October of that year, Tangshan Steel established a non-steel business unit and officially began to lay out its layout in the non-steel industry. Steel) The decision to develop the non-steel industry is all he personally caught."
According to reports, Tang Gang Chuangyuan Fangda Co., Ltd., which joined forces with Pohang to enter the LED industry, is one of 22 non-steel subsidiaries of Tangshan Steel. In addition, Tangshan Iron and Steel has established a number of subsidiaries such as gas companies, logistics companies, commerce companies, new business companies, Tangshan Meijin Coal Chemical Company, and real estate companies.
It is reported that in the first half of 2013, Tangshan Steel issued the “Twelfth Five-Year Development Plan for Tangshan Non-Steel Industryâ€, preparing to increase investment in non-steel industry. “The goal is that the output value of non-steel in 2015 can reach or exceed steel. The output value of the main industry" hopes that the non-steel industry will achieve "leap-forward development."
The steel giant turned its losses and was hindered by its own disadvantages.
The development of non-steel industry in Tangshan Steel has indeed achieved certain results, and the performance of other companies in the Group is better. Steel industry insiders pointed out that among the various subsidiaries of Hebei Iron and Steel, Tanggang and Handan Iron & Steel have maintained profitability, while Xuanhua Steel and Chenggang have suffered losses. Among them, Tang Gang is under the presidency of the non-steel industry, which started earlier. An important reason for its own profitability.
Looking at the entire industry, the main business of steel companies is generally difficult. According to the China Iron and Steel Association data, in September 2013, domestic large and medium-sized steel enterprises realized a total profit of 3.266 billion yuan, but “mainly affected by the increase in investment incomeâ€, the steel industry is still at a loss stage.
Zhang Changfu, vice president and secretary general of China Iron and Steel Association, expressed his feelings that from January to November 2013, the profits of the steel industry totaled 16.18 billion yuan, and the industry sales profit rate was only 0.48%. The main business of the steel industry was 5.8 billion yuan. Profit, but it is estimated that one ton of steel can only earn a pound of pork.
However, for the overall development of non-steel industry in Hebei Iron and Steel Group, analysts pointed out to Netease Finance that Hebei Iron and Steel Group has “gene defectsâ€, which are reorganized and integrated by various independent steel mills, with many branches and steel mills, and each branch steel mill The product structure is also different. Compared with Baosteel, Wuhan Iron and Steel and other steel enterprises to develop non-steel industry, if the steel mills of Hebei Iron and Steel Group invest in non-steel industry separately, the capital pressure will be relatively large. If the joint venture is invested, it is necessary to pay attention to the integration effect.
The analyst also said that since last year, iron and steel enterprises in Hebei have been affected by environmental remediation measures. Hebei Iron and Steel Group is located in Hebei. It is expected that environmental protection expenditure will be more than that of other provinces in the later period. test".
However, for Tangshan Iron and Steel Group's Tangshan Iron and Steel Group Co., Ltd. to join the LED industry, and announced that it will become the first in the Chinese lighting market within five years, LED industry analysts are not optimistic.
Some LED analysts told Netease Finance that in the Korean LED market, the more well-known brands are Samsung and LG, etc. Although in recent years, it has been heard that the steel company in Pohang, South Korea is entering the LED industry, but the brand is well-known in the Chinese market. not tall.
“Posco has not sold (LED products) in Chinaâ€, Tangshan Chuangyuan Fangda Company stated that “Pohang LED is at the forefront of technology in terms of technology and has many patents and proprietary technologiesâ€, and the new company will eventually reach China. The number one goal in the lighting market is "the difficulties (mainly) that will be encountered are the market and cost."
Analysts told Netease Finance that with the support of policies, the maturity of current technology and the decline in product costs, LED lighting replacement is expected to occur this year, that is, the lighting field will be in an explosive period. However, this analyst is not optimistic about Tang Gang's joint efforts with Posco to enter the LED industry. At present, the competition in this market has been very fierce. "I want to be the first in China's LED lighting market within five years, and I don't see this possibility at present." .
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
As a result, Hebei Iron and Steel Group announced that its Tangshan Iron and Steel and South Korea's Posco companies have jointly formed a new company to formally enter the domestic LED market. Analysts pointed out that it is understandable that steel enterprises to develop non-steel industry to make up for the loss of the main business. However, due to the large number of branches and the scattered structure of Hebei Iron and Steel, how to integrate the development of non-steel industry will be a major problem in the face of bravery.
Joining hands with South Korean steel giants to enter the LED
Near the end of 2013, Hebei Iron and Steel Group announced that its Tanggang Chuangyuan Fangda Company and South Korea's Pohang ICT Company jointly established Tanggang Pohang (Tangshan) New Light Source Co., Ltd., and officially entered the LED industry. This is the first investment decision of Hebei Iron and Steel Group since the personnel earthquake in December last year, the new "head" Yu Yong took office.
Hebei Iron and Steel Group and South Korea's Pohang Iron and Steel Group, one is the largest steel company in China, and the other is the largest steel company in South Korea. The two major steel giants joined the “cross-border†to enter the LED industry, and the two sides have confidence in this “marriageâ€. Full, it shows the "ambition" of the LED industry.
Tanggang Chuangyuan Fangda Company told Netease Finance that the new company will eventually reach the number one goal in the Chinese lighting market. Zhao Fenglai, president of Pohang ICT and general manager of Pohang LED, said that the new company will achieve profitability in 2014, “achieving the goal of ranking first in China's lighting market within five years, and even becoming the world's number one LED lighting companyâ€.
It is reported that the total investment of the joint venture project is 61.26 million yuan, which is jointly invested and managed by Tangshan Steel and Posco and is responsible for sales in the Chinese market. Its products are positioned as high-end LED lighting products with energy saving, longevity and high efficiency.
The initial design scale of the company's project is 379,000 sets with an annual output value of 207 million yuan. Tanggang Chuangyuan Fangda revealed that the new company’s medium-term goal is to achieve a sales income of 500 million yuan, and the latter and Posco will invest again as needed.
In addition, as early as 2012, Tangshan Chuangyuan Fangda Company conducted a one-year research and development on LED technology and had production conditions. According to the profile of Tangshan Chuangyuan Fangda Company, Tanggang Chuangyuan Fangda Company is a non-steel industry of Tangshan Iron and Steel Co., Ltd., responsible for the production of power equipment, cables, electrical appliances, and automation instruments.
According to the information disclosed by Posco ICT, Posco began to get involved in the LED industry as early as 2009. Its self-proclaimed LED lighting production technology is in a leading position in the world, and 179 technical patents applied for registration in Korea are applied abroad. There are 58 technical patents, and the proportion of patents applied to products in 2012 is as high as 79%.
“Pohang LED is at the forefront of technology in terms of technology and has a number of patents and know-how.†“Tanggang chose Posco for Posco’s brand and high-end technology; Posco’s choice for Tang Steel is Chuangyuan. Big market possession," Tang Gang Chuangyuan Fangda said.
Hebei Steel's "new head" vows to turn losses to develop non-steel industry
In fact, the joint launch of Pohang into the LED was in the planning of Tangshan Iron and Steel in the first half of last year, and Yu Yong, who was also the chairman of Tanggang, participated in the signing of the letter of intent and the signing of the joint venture contract from the initial negotiation to the subsequent signing of the cooperation letter of intent. . According to people close to Tangshan Iron and Steel, "LED industry is an important project in Tangshan's non-steel industry planning."
It is reported that Tangshan and Pohang started talking about LED cooperation as early as May 2013. On June 3, 2013, the two parties signed a letter of intent for cooperation, and on September 12, 2013, they signed a joint venture contract.
According to the data, Yu Yong has been working in Tangshan Iron and Steel. He has served as the director of the iron and steel plant of Tangshan Iron and Steel Co., Ltd., assistant to the general manager, executive deputy general manager and general manager. In 2012, he served as general manager and party committee deputy of Hebei Iron and Steel Group. Secretary, and chairman and general manager of Hebei Iron and Steel Group Tangshan Iron and Steel Group Co., Ltd.
It is worth mentioning that on December 9, last year, Hebei Iron and Steel Group experienced a mass earthquake. On the same day, the Hebei Provincial Party Committee and the provincial government announced that Yu Yong had replaced Wang Yifang as the chairman and party secretary.
The former "head" Wang Yifang left Yu Yong, Hebei Iron and Steel will soon have to announce a loss for two consecutive years. According to data provided by people from Hebei Iron and Steel Group, the Group was established in 2008 and the Group continued to make profits in 2008. In 2012, the Group's operating income decreased from 250.3 billion yuan in the previous year to 247.8 billion yuan. The annual profit of 2.923 billion yuan has turned into a loss of 522 million yuan. The person said that although the financial data of Hebei Iron and Steel Group was not disclosed, it is expected to be a loss in 2013.
Yu Yong emphasized in the group meeting on December 9 that “to achieve the full turnaround in 2014 is the Group’s current biggest goal and the biggest politics, and it is the overriding central taskâ€. For Yu Yong, the biggest problem facing him now is how to fulfill his commitment to “resolutely realize the full turnaround in 2014 and overall profitability in 2015†after taking office.
"It is expected that Yu Yong will develop the non-steel industry after he serves as the chairman of Hebei Iron and Steel." It is close to Tang Gang's speculation that Yu Yong will continue to serve as the chairman of Hebei Iron and Steel Group. "Development of non-steel industry" strategy.
The aforementioned person close to Tang Gang said that Yu Yong was considered inside the Tangshan Iron and Steel Group as the earliest person in the Chinese steel industry to propose the concept of non-steel. In 2010, during his tenure as general manager of Tangshan Iron and Steel Co., he proposed that Tangshan Steel should start planning non-steel industry. In October of that year, Tangshan Steel established a non-steel business unit and officially began to lay out its layout in the non-steel industry. Steel) The decision to develop the non-steel industry is all he personally caught."
According to reports, Tang Gang Chuangyuan Fangda Co., Ltd., which joined forces with Pohang to enter the LED industry, is one of 22 non-steel subsidiaries of Tangshan Steel. In addition, Tangshan Iron and Steel has established a number of subsidiaries such as gas companies, logistics companies, commerce companies, new business companies, Tangshan Meijin Coal Chemical Company, and real estate companies.
It is reported that in the first half of 2013, Tangshan Steel issued the “Twelfth Five-Year Development Plan for Tangshan Non-Steel Industryâ€, preparing to increase investment in non-steel industry. “The goal is that the output value of non-steel in 2015 can reach or exceed steel. The output value of the main industry" hopes that the non-steel industry will achieve "leap-forward development."
The steel giant turned its losses and was hindered by its own disadvantages.
The development of non-steel industry in Tangshan Steel has indeed achieved certain results, and the performance of other companies in the Group is better. Steel industry insiders pointed out that among the various subsidiaries of Hebei Iron and Steel, Tanggang and Handan Iron & Steel have maintained profitability, while Xuanhua Steel and Chenggang have suffered losses. Among them, Tang Gang is under the presidency of the non-steel industry, which started earlier. An important reason for its own profitability.
Looking at the entire industry, the main business of steel companies is generally difficult. According to the China Iron and Steel Association data, in September 2013, domestic large and medium-sized steel enterprises realized a total profit of 3.266 billion yuan, but “mainly affected by the increase in investment incomeâ€, the steel industry is still at a loss stage.
Zhang Changfu, vice president and secretary general of China Iron and Steel Association, expressed his feelings that from January to November 2013, the profits of the steel industry totaled 16.18 billion yuan, and the industry sales profit rate was only 0.48%. The main business of the steel industry was 5.8 billion yuan. Profit, but it is estimated that one ton of steel can only earn a pound of pork.
However, for the overall development of non-steel industry in Hebei Iron and Steel Group, analysts pointed out to Netease Finance that Hebei Iron and Steel Group has “gene defectsâ€, which are reorganized and integrated by various independent steel mills, with many branches and steel mills, and each branch steel mill The product structure is also different. Compared with Baosteel, Wuhan Iron and Steel and other steel enterprises to develop non-steel industry, if the steel mills of Hebei Iron and Steel Group invest in non-steel industry separately, the capital pressure will be relatively large. If the joint venture is invested, it is necessary to pay attention to the integration effect.
The analyst also said that since last year, iron and steel enterprises in Hebei have been affected by environmental remediation measures. Hebei Iron and Steel Group is located in Hebei. It is expected that environmental protection expenditure will be more than that of other provinces in the later period. test".
However, for Tangshan Iron and Steel Group's Tangshan Iron and Steel Group Co., Ltd. to join the LED industry, and announced that it will become the first in the Chinese lighting market within five years, LED industry analysts are not optimistic.
Some LED analysts told Netease Finance that in the Korean LED market, the more well-known brands are Samsung and LG, etc. Although in recent years, it has been heard that the steel company in Pohang, South Korea is entering the LED industry, but the brand is well-known in the Chinese market. not tall.
“Posco has not sold (LED products) in Chinaâ€, Tangshan Chuangyuan Fangda Company stated that “Pohang LED is at the forefront of technology in terms of technology and has many patents and proprietary technologiesâ€, and the new company will eventually reach China. The number one goal in the lighting market is "the difficulties (mainly) that will be encountered are the market and cost."
Analysts told Netease Finance that with the support of policies, the maturity of current technology and the decline in product costs, LED lighting replacement is expected to occur this year, that is, the lighting field will be in an explosive period. However, this analyst is not optimistic about Tang Gang's joint efforts with Posco to enter the LED industry. At present, the competition in this market has been very fierce. "I want to be the first in China's LED lighting market within five years, and I don't see this possibility at present." .
(This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED. Readers need to verify the relevant content by themselves.)
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