Central China numerical control main business loss enlarge profit dependence subsidy transfusion

Liu Tao from Wuhan November 17, three robots (300024, Stock bar) takes 40 seconds to spell one side of the wall, central China Numerical control (300161, shares bar) (300161) in such a novel way to appear in Shenzhen High Fair. According to the Times weekly reporter understand, 40 seconds behind, the Central China Numerical Control 5 person group in advance a week to adjust, independent research and development of the three six-axis multi-joint robot collaboration, the final precision reached 0.05 mm. Huazhong numerical control in the field of household electrical appliances manufacturing, machine tool processing and automotive production has been deep three years, as Hubei province, the modern intelligent equipment manufacturing sector leading enterprises, central China CNC said the layout of the robot industry "represents the highest level of our robot." But behind the technical advantages, the performance data is not ideal. Times weekly reporter found that the central China numerical control listing for more than three years, the main business losses have gradually expanded, the profit is mainly dependent on government subsidies. January 2011, the Central China Numerical control in the Shenzhen stock market gem listing to 26 yuan per share, the issue of 27 million shares, raise funds 702 million yuan. Huazhong CNC backed by Huazhong University of Technology, sitting on a wealth of research and development industry resources. Later, the central China NC began to receive a large amount of subsidies, from 2011 to 2013, subsidies from 13.45 million yuan to 66.88 million yuan in 2013. At the same time, the company's annual net profit appears to be declining, from 2011 to 43.26 million Yuan to 2013 years of 10.05 million yuan. One side is subsidized support, the other side is the company's business decline, the more "fill" the "virtual" situation in the current China's mobile robot industry upgrade, there seems to be no signs of relief. November 21–24 Day, Times weekly reporter calls the central China numerical control to verify its main business loss reasons, but have not been replied. The subsidy "bottle" in central China CNC was listed in 2011, claiming that the company is a high-end CNC system leading enterprises, with CNC systems, servo drive and motor and other core technology and industrial robot control technology. The technical advantages of Huazhong numerical control benefit from its potential educational research resources. Public data show that, as of September 30 this year, Wuhan Huazhong Science and Technology Industry Group Co., Ltd. holds 20.36% of the central CNC, Wuhan Chinese entrepreneurs venture Capital limited liability company holds 3.74%, Huazhong CNC chairman and Dong Chen Jihong in Huazhong University of Sciences, holding 1.92% With Wuhan Huazhong Science and Technology Industry Group Co., Ltd. as a concerted action, the above three total shareholding 26.02%. With the background of the university, its technical research and development resources are obvious, but the operation of CNC in central China appears weak. The reporter inspected the central China Numerical Control Annual report to show, its 2013 annual revenue is about 500 million yuan, Operating profit-47.3806 million yuan, attributable to the listed company's deduction of the net income of about 50.2281 million yuan, 2012 revenue of about 424 million yuan, operating profit of 46.6162 million yuan, belong to the listed companies deducted the net profit of about-53.1825 million yuan. At the same time, the annual net profit of Huazhong CNC is declining, from 2011 to 43.26 million yuan to 2012 years of 9.45 million yuan, 2013 of 10.05 million Yuan, to 2014 years ago three quarter only 1.28 million yuan. Relatively speaking, the Central China numerical control market performance is not optimistic, but the government's various subsidies are pouring in, the Times weekly reporter carding data show that, 2011–2013 years, in the current profit and loss of the government subsidy is about 13.4588 million yuan, 53.9707 million yuan and 66.8871 million yuan. 2014, the Central China numerical control third quarter revenue of about 137 million yuan, belongs to the listed company ordinary stock shareholder's net profit is 3.96 million yuan. The first three quarters included a government subsidy of about 52.6229 million yuan. This May, the Central China Numerical control received 6.7 million yuan of government subsidy, which is equivalent to the audited 2013 attributable to the listed company shareholders net profit of 66.63%. The proportion of more alarming subsidies also appeared on April 2 this year, the Huazhong CNC holding company Chongqing Number Robot Co., Ltd. received Chongqing city, "151" robot Industrial Technology major special grant funds 30 million yuan, which is equivalent to its 2012 attributable to the listed company's shareholder net profit of 317.31%. Chongqing Hua Number Robot Co., Ltd. is a central China numerical control layout of the first robot company in southwest. 2013, Zhongqing in the Liang Jiang New district planning robot Industrial Park, covering 2250 acres, Chongqing municipal government to the industrial park to invest hundreds of millions of yuan to support funds. In addition, Huazhong CNC also set up Shenzhen Hua-number Robot Co., Ltd. in Shenzhen, for robotics research and development, production and sales. The increase in government subsidies has led to a year-on-year rise in net shareholder profits, with a 63.29% per cent rise in net profits attributable to shareholders of listed companies in the first half of 2014, when the government's subsidy income increased. Income from government subsidies increased by 34% in the first three quarters of the year compared with a year earlier. It is noteworthy that the first half of 2014 in central China's listed companies to share the common shareholders of the net assets of 5.2808 yuan per share, down 33.18% year-on-year. The effect of research and development is difficult to measure the function of government subsidy is to carry out the implementation of national key scientific research projects, and the benefit of enterprises mainly comes from the improvement of research ability and the enhancement of product core competitiveness. Times weekly reporter According to the initial statistics of the public data, from 2011 to 2013 received government subsidies of 13.45 million yuan, 53.97 million yuan and 66.88 million yuan, 3 year cumulative received government subsidy over 130 million yuan. From its research and development input, 2012 Research and Development investment of 52.22 million yuan, 2013 investment 67.27 million yuan, to the first half of this year also invested 39 million yuan, an increase of 84.04%. From this perspective, central China's numerical control research and development investment and government subsidies are basically flat. Times weekly reporter found that the Central China Numerical Control research and development investment accounted for the increase in the proportion of revenue, research and development investment accounted for annual increase in revenues, 2011 to 2013, respectively, 6.11%, 12.3% and 13.46%, although research and development investment accounted for the total revenue proportion of the annual rise, but the results are not idealNC machine Tool performance growth is limited. Times weekly reporter survey found that central China CNC main machine tool manufacturing at present market demand continues to slump. In fact, with foreign brands in the domestic market constantly infiltration, the domestic market low-end products are more serious, high-end CNC system in technology still has a certain gap with foreign countries. "At present, more than 80% of domestic CNC machine tools equipped with imported high-grade CNC system, users of the use of domestic high-end CNC system concerns, lack of trust." "A numerical control expert, who declined to be named, said to the Times weekly reporter. In addition, the Central China CNC management costs are also worthy of concern. The third quarterly Bulletin of 2014 shows that high management costs, from the beginning to the end of the third quarter, its management costs about 104 million yuan, accounting for more than 419 million yuan in the current period of 24.8%, while the previous management cost of about 0.78 yuan, accounting for the total revenue of 315 million yuan in the last period of 24.8%, the management costs are basically flat. The industry insiders said over the past decade, by the domestic machine tool market demand for sustained vigorous, domestic CNC system industry in the plant, equipment and other hardware to promote a larger, but the core technology research, innovation ability training, technology manufacturing and other soft power investment is obviously inadequate, industrial upgrading and product restructuring is still a long way. The concept of transformation robot in central China numerical control has raised funds to build a number of projects, but in the company's "fund-raising commitment project Situation table", a part of the acquisition, investment projects did not complete the expected plan, the reason is misjudged the industry trends, the overall decline in the machine tool industry, the market competition Societe Generale Securities (601377, shares bar) research report shows that the first half of this year's CNC machine tool operating quality decline, the loss of enterprises accounted for 47%, the total profit fell 10% year-on-year. In fact, the central China Numerical control has been the performance has not been recognized by the market. Flush (300033, stock bar) data show that the recent company share price hovering around 15 yuan, the Central China Numerical control of the current robot concept hot topic, gradually in the transformation trend of the robot industry is more obvious. Since last year, the Central China numerical control successively through the holding, the participation or the establishment sole proprietorship enterprise, consummates own industrial layout. December 26, 2013, the company invested in the establishment of Chongqing Hua Number Robot Co., Ltd., the company to cash and intangible assets total investment of 45.9 million yuan, the shareholding ratio of 51%; March 2014, the company invested 2.55 million yuan to set up Shenyanghua Intelligent Technology Co., Ltd., the company registered capital of 5 million yuan, Company shareholding ratio of 51%, at the same time the company holds the Wuhan New Granville Technology Co., Ltd. 39.66% Equity, through with the company shareholder Chen Wu (holding new Granville Odd 12.02% stake) signed a concerted action agreement, the company in the new Granville shareholders will vote to reach 51.68%, the above are included in the consolidated statement scope. Huazhong CNC also set up the acquisition of Wuhan Hi-Tech Machinery Equipment Manufacturing Co., Ltd. all equity, investment in the establishment of Yunnan Hua XI CNC Equipment Co., Ltd. and so on. During the first half of 2014, the total operating income was about $2.83, which was increased by 33.48% over a year earlier, mainlyNew Weich, Chongqing company included in the merger scope. Not only that, central China CNC also set up a robotics company in Shenzhen, to achieve integration of production and marketing research and development. In addition to South China, the western layout, but also in Hubei province Xiangyang and other investment. 2014 The third quarter reported that in the machine tool industry downturn, the Central China CNC technology platform to the robot, energy-saving areas to expand. Company subsidiary Chongqing Hua Number Robot Co., Ltd. and Shenzhen Hua Number Robot Co., Ltd. has cooperated with the relevant enterprises, developed six-axis joint-type robot, truss-type manipulator, to achieve small batch production. The company's latest development of dual-arm horizontal joint robot control system, has begun in the user's trial, the robot is mainly used for tableware automation production line. But in the "milk" situation, the Central China numerical control in the more and more open robot industry market, how to "grow", is still to solve the problem.