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Bankruptcy and reorganization of Shenyang Machine Tool - is it the desolation of the machine tool industry or a mistake in the laser era

original title: bankruptcy and reorganization of Shenyang Machine Tool - is it the desolation of the machine tool industry or a mistake in the laser era source: fweek IOT

, The company and its parent company, Shenyang Machine Tool (Group), have received the notice from the intermediate people's Court of Eastman in Shenyang, Liaoning Province. Because they are unable to pay off their due debts and obviously lack the ability to pay off their debts, the creditors of the two companies apply to the court for reorganization of the company. Shortly thereafter, the court accepted the application of creditors, and Shenji group and Shenji shares successively entered the judicial reorganization procedure. According to the announcement of Shanghai clearing house on July 23, Shenyang intermediate people's court ruled to accept the reorganization application of Shenyang jinlijian Lubrication Technology Co., Ltd. (hereinafter referred to as jinlijian) against Shenyang Machine Tool (Group) Co., Ltd. (hereinafter referred to as Shenyang Machine Tool Group). On August 20, Shenji shares were reduced to "" due to the application for reorganization. This mark means that the company has suffered losses for two consecutive years and is at risk of delisting

although the bankruptcy and reorganization of Shenyang machine tool is the company's strategic choice, and the success of the reorganization with the central enterprise China General Technology Corporation is a high probability event, the 2019 semi annual report shows that the operating revenue of Shenyang machine tool in the first half of the year was 722.012, accounting for 29% of the global market, a year-on-year decrease of 78.30%, a loss of 1.41 billion yuan, a total asset of 16.578 billion yuan, and a total liability of 17.887 billion yuan. Shenyang machine tool is already insolvent and the company's operation continues to deteriorate. The prospect is worrying

the plight of China's machine tool industry

the development of machine tools in Europe and the United States is early. Starting from the 18th century, it has experienced two industrial revolutions and gradually improved in more than 200 years. However, China's machine tool industry is basically the product of the founding of the people's Republic of China, and there is a huge gap in development time with developed countries. The present situation of Shenyang Machine Tool reflects the dilemma that China's machine tool industry is facing. From the perspective of the machine tool industry chain, the upstream of the machine tool is mainly the component manufacturer, the midstream is the manufacturer of various types of machine tools, and the downstream is the industrial application. Among them, the localization rate of core components such as the upstream CNC system, lead screws, motorized spindles and high-end tools is low, occupying a high technical point in the industrial chain. In addition, the localization rate of high-end CNC machine tools in the midstream is also quite low. In 2018, the localization rate of high-end CNC machine tools in China was only 6%. China has a surplus of low-end machine tools and a large number of high-end machine tools rely on imports. China's enterprises have limited technological level, homogeneous competition and excess capacity, leading to price competition. By pressing down prices to expand the market, China's machine tool enterprises have a low overall profit margin and their growth is constrained

reasons for the fall of Shenyang machine tool

in an exclusive interview with Caijing, guanxiyou, chairman of Shenyang machine tool, summarized the reasons for the difficulties of Shenyang machine tool as follows: continuous high debt operation, prominent structural problems, outdated system and mechanism, and heavy historical burden. However, OFweek Industrial Research Institute believes that poor internal management and deterioration of external economic environment are not the main reasons for Shenyang machine tool to go bankrupt and restructure. The more important reason is the strategic error of Shenyang machine tool enterprise. Shenyang machine tool is deeply mired in the two axis and three-axis general-purpose and low-end machine tool product market. It does not see that laser processing equipment is rapidly replacing the traditional low-end machine tool market, As a result, the company's operating income fell precipitously and its profits were low

at the time of the bankruptcy and reorganization of Shenyang machine tools, Okuma and mori, both in the global machine tool field, continued to follow the people-friendly line, continuously increased R & D investment in precision machinery, MAG, jitmai, etc., continued to make progress in the core parts of machine tools, CNC systems, etc., and continuously upgraded machine tool products and solutions, vigorously developed five axis machine tools, composite machine tools, and machining centers to facilitate product industrialization Automatic production lines, integration, intelligent factories and other product businesses, continuously improve the technical content, product threshold and manufacturing efficiency of machine tool product lines, and improve product added value and profit space

in the face of the shrinking global machine tool market, the revenue of tongkuai group, a German machine tool giant, has maintained a stable growth trend. This is mainly due to tongkuai seizing the opportunity of laser technology development, vigorously developing the laser equipment business, and gradually becoming a leader in the industrial laser field. In fiscal 2017, the operating revenue of laser related products in all businesses of tongkuai group was US $2.202 billion, accounting for 70.6% of the total revenue. In 2018, tongkuai group realized a sales revenue of about 3.8 billion euros, an increase of 6%, and the company's operating revenue continued to grow. Positioned in the high-end market, tongkuai will continue to increase the investment in digital connection, and begin to optimize its sheet metal processing process to achieve fully automated production and promote the process of intelligent factory, which will provide a long-term driving force for the growth of its business volume

Jiangsu, which is also in the field of domestic machine tools, also saw the broad prospects for launching the laser industry early, laid out the laser cutting market and gradually expanded its share. On the basis of the continuous growth of the plane cutting market, Yawei announced in september2014 that it would purchase Wuxi chuangkeyuan laser equipment Co., Ltd. for 140million yuan to strengthen the layout of laser cutting equipment. Chuangkeyuan mainly focuses on the automotive manufacturing field and provides customers with system integration and related technical services of robot laser processing equipment. Its main products include small and medium-power 3D and 2D laser cutting equipment. This acquisition enabled Yawei to enter the field of industrial robots and 3D laser cutting, and accelerated the transformation and upgrading of the enterprise to high-end, intelligent and automatic. In 2018, Yawei's laser processing equipment business realized an operating income of RMB 457million, a year-on-year increase of 22.48%, and sustained rapid growth for five consecutive years. In August, 2019, Jiangsu Yawei planned to increase the capital of its subsidiary Yawei precision laser by 450million yuan, and launched comprehensive strategic cooperation in the field of precision laser with Korean KOSDAQ listed company LIS D, continuously increasing the investment in laser business

laser is known as one of the four major inventions in the 20th century, which are as famous as atomic energy, semiconductor and computer. Because of its good monochromaticity, coherence, directivity and high energy density, laser has become an important means of advanced manufacturing technology and upgrading traditional industries. The combination of laser processing system and computer numerical control technology can form efficient automatic processing equipment, which has become the key equipment for enterprises to implement timely production, and provides a new means for high-quality, efficient and low-cost processing and production. Therefore, the laser processing equipment manufacturing industry is one of the most promising industries in the laser industry

different from the development of machine tool industry, China's laser technology and laser industry are almost synchronized with the global development. In the 1950s, wangdaheng and others established China's first Institute of optics in Changchun - Institute of Optics and precision instruments and machinery of Chinese Academy of Sciences (Changchun) (hereinafter referred to as "Institute of Optics and mechanics"). Under the leadership of the older generation of experts, a number of young scientific and technological workers have grown rapidly. At the initial stage of laser technology in the last century, China's laser technology developed rapidly, and both the quantity and quality were close to the international level at that time. In recent years, China's laser technology has developed rapidly, and the technology R & D and industrialization are constantly catching up with the international level. In 1996, it was established; Established in 1999; In 2007, it was established, breaking the situation that China's fiber lasers are highly dependent on foreign imports, encountering technical blockade and price monopoly. With the independent development and rapid industrialization of low, medium and high power fiber lasers by Ruike laser, Chuangxin laser and other enterprises, the overall price level of lasers has been greatly reduced, forcing the price of similar imported products to drop by 30%-50%, and promoting the rapid penetration of laser applications in the domestic industrial field

in the past few years, laser cutting is gradually replacing traditional products such as punch, plate shears and cutting machines in metal forming machine tools. With the continuous decline of the prices of core components such as lasers, laser cutting heads and laser cutting control systems upstream of laser cutting and the continuous improvement of the technical strength, brand strength and marketing strength of domestic laser cutting equipment enterprises, the market penetration and application fields of laser cutting equipment in China have been continuously improved, The laser cutting equipment industry has ushered in a period of rapid development

Figure 4 data source of optical fiber replacing traditional processing technology: OFweek Industrial Research Institute

in 2018, the market scale of China's laser cutting equipment industry reached 21.8 billion yuan, with a year-on-year increase of 29.76%. In, the compound annual growth rate of China's laser cutting equipment industry reached 20.45%, becoming the largest and fastest growing segment of the laser market in the industrial processing field. In 2019, the price of laser, the core component of laser cutting equipment, fell sharply, further reducing the cost of laser cutting equipment purchased by customers in downstream industries, and further releasing the market demand for laser cutting equipment in China. In the first half of 2019, the market scale of laser cutting equipment in China continued to maintain rapid growth, reaching 12.3 billion yuan

chart year H1 China's laser cutting equipment market size and growth rate

data source: OFweek Industrial Research Institute's report on in-depth investigation and Prospect Forecast of laser cutting equipment industry, The continuous reduction of laser product prices has further accelerated the application of laser technology and equipment in various fields. At the same time, domestic laser enterprises Ruike laser, Chuangxin laser; Laser equipment enterprises Han's laser, Huagong laser, bond laser, Everbright laser, Dapeng laser, etc. have made great efforts to expand overseas markets. In the future, with the further increase of the share of China's laser industry in the global market, China's laser industry will usher in a sustainable development opportunity

according to the data of 2019 laser industry analysis and investment report published by OFweek Industry Research Institute, it is estimated that the market scale of China's laser industry will reach 180billion yuan by 2023, and the compound annual growth rate of China's laser industry market scale will reach 16% in the next five years. With the increasing penetration of laser technology in industrial production, scientific research and life, the laser industry still has a huge space for development. Similar to Shenyang Machine Tool Plant, the traditional machine tool market has been eroded by emerging laser processing equipment, resulting in the former leading enterprise becoming today's bankruptcy and reorganization example, which will not be an example of a certain market segment. Laser technology will be widely used in industry, communication, scientific research, medical treatment, life and entertainment

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