Benefiting from the dividends brought about by mergers and acquisitions, the construction machinery that has been sluggish for many years has seen the hope of recovery.
According to the semi-annual performance forecast, the construction machinery in the first half of 2016 is expected to achieve a net profit attributable to shareholders of the listed company of about 30 million yuan. In the same period last year, the company was still in a state of loss, with a net profit of -34.57 million yuan. This is the first time that construction machinery has achieved profitability since it unloaded its cap this year.
From 2007 to 2014, the construction machinery suffered four losses and four losses, and the amount of losses was far greater than the profit. Due to continued losses in 2013 and 2014, construction machinery was “wearing a hat†and faced the risk of suspension of listing. In the first quarter of this year, the company still lost 22.41 million yuan. In other words, construction machinery achieved near-profit or over 50 million yuan in the second quarter of this year.
Shi Jian, a representative of the construction machinery securities business, said that the performance of Shanghai Pangyuan Machinery Leasing Co., Ltd. (hereinafter referred to as Pangyuan Leasing), which was acquired by the company last year, was released in the second quarter and became the main factor for the company's net profit growth.
Relying on its two companies, Pangyuan Leasing and Sichuan Zigong Tiancheng Construction Machinery Co., Ltd. (hereinafter referred to as Tiancheng Machinery), construction machinery made a turnaround in 2015 and the first half of this year. Among them, Pangyuan Leasing is a leading enterprise in the domestic construction machinery equipment leasing industry, and Tiancheng Machinery is a leading domestic tower crane manufacturer.
After acquiring the two companies in August 2015, the main business of construction machinery was transformed from a single construction machinery equipment manufacturer to a construction machinery equipment rental service provider.
The effect of the acquisition is also immediate. Construction machinery successfully turned losses in the third quarter of 2015, and realized a net profit of 2.64 million yuan in the current period. In 2015, the net profit was 6.09 million yuan. The company also successfully removed the hat in 2016.
However, behind the transcripts that turned losses into profits, construction machinery still has problems that need attention. Although mergers and acquisitions have brought significant performance assistance to construction machinery, non-recurring gains and losses, including non-operating income, also play a huge role in the performance of construction machinery.
In 2015, the company achieved a profit of 6.09 million yuan, but the net profit after deduction was still 10.66 million yuan. In the first quarter of this year, the company suffered a loss of 22.41 million yuan, and the net profit loss after deduction was 25.08 million yuan, of which, the non-operating income contributed 1.4 million yuan.
In the second quarter of this year, construction machinery achieved a net profit of more than 50 million yuan, of which the non-recurring gains and losses contributed, and the company has not disclosed. However, Shi Jie said: "We will make detailed disclosures in the official interim report."
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