Since June this year, a long-lost hot spot has appeared in the factory area of Qingdao Huatong Yajin Machinery Equipment Co., Ltd. (formerly Qingdao Dezhu Special Steel Co., Ltd., referred to as "Huatong Yajin"). Since the first six-sided hydraulic press was shipped on June 22, Huatong Yajin's orders have come one after another. Many customers have come to "grab" the orders, and the equipment has been ordered on the production line.
And just a year ago, this was a completely different scene. Products have no market competitiveness, equipment is constantly shut down, personnel are idle, and customers are gone. Recruiting professional managers and strengthening performance appraisals has not changed the situation of the company's losses for years. What is
to regain the life of a company? " Huatong Group innovatively invented a hybrid business model, using the factory buildings, land and equipment of Qingdao Dezhu Special Steel Co., Ltd. to introduce the technical team and management advantages of Shenyang Yajin Machinery Manufacturing Co., Ltd., and give the company new life." Zhang Wei, deputy secretary of the Party Committee and general manager of Huatong Group, said that the original Dezhu Special Steel Co., Ltd., which was renamed Huatong Yajin, comprehensively innovated its product structure and transformed from an ordinary casting and processing, steel ingot, metallurgical product manufacturer to a high-end complete equipment manufacturer.
One "masterious move" to activate a "loss" enterprise. In just over three months, Huatong Yajin has changed its decline with revenue of more than 10 million yuan.
"scalpel" accurately falls on the "lesion"
"loss" enterprise governance is a systematic task. "Thousands of enterprises and thousands of faces", "loss" enterprises have complex historical problems, and to activate these enterprises, we must discuss each enterprise, , one matter, . The "scalpel" of reform must be accurately placed on the "lesion", rather than "one size fits all".
Dezhu Special Steel was the predecessor of the former state-owned Qingdao Power Station Valve Factory casting workshop, which began in 1965. In the past 60 years of development, Dezhu Special Steel has been reorganized and relocated to build new factories, and has been rising and falling in the wave of marketization to this day.
After the relocation in 2013, the former Decatur Special Steel Company built a cast steel parts production chain integrating mold production, smelting and refining, sand casting, heat treatment, and rough finishing processing. However, in the actual operation process, the product structure and quality of Decatur Special Steel cannot meet market demand, and enterprises cannot see a "way out".
Faced with difficulties, Dezhu Special Steel can only choose "shock therapy" and will be completely suspended in 2021. Although production losses were stopped, land and factory resources were idle, and machinery and equipment were still depreciated and amortized. Simply stopping production could not completely solve the problem.
Against the backdrop of Qingdao Huatong Group accelerating the governance of "loss" enterprises, many "light assets" "loss" "loss" enterprises have been cleared and eliminated. However, enterprises like Dezhu Special Steel have huge assets and complex historical problems have become a real difficulty in the group's development path. Under the overall planning of the group, some old state-owned enterprises that lack business vitality and inefficiency have stepped onto the "operating table" and began to undergo surgical treatment.
How to change Decatured special steel? " scalpel " should be accurately placed on the "lesion". In the reform of state-owned enterprises, those "beautiful girls" with high-quality assets and resources can usually "marry first" and regain vitality through mixed ownership reform. However, Dezhu Special Steel has accumulated too many historical problems in its development over the years and is basically unable to operate it. After multiple investigations, Qingdao Huatong Group found that Dezhu Special Steel is difficult to introduce partners through property rights reform. "The creditor-debtor-debtor-even legal litigation relationships involved in old enterprises are very complicated, and mixed ownership reform cannot be carried out by introducing strategic investors." Zhang Wei said.
A beautiful girl is married, and the "ugly girl" must not give up. The Party Committee of Huatong Group has made such a determination. When the product, production and management are all "not connected", we can only innovate methods and try to graft the advantages and capabilities of state-owned enterprises and private enterprises. After many screenings, Huatong Group began to "contact" with Shenyang Yajin Machinery. This private enterprise with high-end complete equipment production technology such as six-sided hydraulic press has captured the opportunity to cultivate the diamond industry, but lacks "hard currency" such as factory buildings and equipment, and the production capacity of has never been increased.
After several rounds of negotiations, the two parties adopted a mixed business model to reach cooperation.Dezhu Special Steel uses the factory, land and equipment of the original company to introduce partners, relying on the market and technological advantages of Shenyang Yajin, a private enterprise, to comprehensively upgrade the product structure, carry out technological transformation, re-operate the production line, and transform from a casting processing enterprise to a complete equipment production enterprise.
The original factory and equipment resources were reactivated, and the renamed Dezhu Special Steel finally found a new way out for development.
Innovative implementation of the hybrid business model
reform must touch interests, and practical measures are needed to promote state-owned enterprises to reduce losses and cure losses. Huatong Yajin's mixed business model was once faced controversy. Starting from March 2021, Huatong Group has made up its mind to press the pause button for this company to force the company to shut down its business. In November 2021, after multiple rounds of selection, negotiation and discussion, the mixed business plan was finally implemented.
This plan effectively grafts the capital, land and factory resources of state-owned assets with the technical, market and operational management advantages of private parties. According to the cooperation division of labor between the two parties, Dezhu Special Steel is responsible for providing capital such as factory equipment, Shenyang Yajin provides organizational management and market technology, and is responsible for obtaining market-oriented orders and daily production and operation.
In the reform process, preservation and appreciation of state-owned assets is the bottom line. In order to "guaranteed" business risks and prevent misappropriation of funds, Shenyang Yajin mortgaged its existing assets. State-owned assets shall establish a separate accounting system, which shall be responsible for internal settlement with partners, and send people to establish accounts and supervise them. The profit distribution mechanism agreed by both parties ensures the capital nature and fixed income of state-owned assets, and the state-owned assets party obtains a fixed income share for each order.
"After adopting the hybrid business model, state-owned enterprises rely on capital and asset elements to obtain relatively fixed income, while avoiding risks, realizing the appreciation of assets and capital. The more important significance lies in revitalizing existing assets, introducing market-competitive partners, and allowing loss-making enterprises to gain new life." Zhang Wei said that under the mixed business model, Dezhu Special Steel can ensure the integrity of equipment and the controllability of real estate. Continuing to maintain operations as a operating entity is Huatong Group's responsibility as a shareholder of state-owned enterprises to reduce losses and cure losses, and it is also an innovative measure for Huatong as a state-owned capital investment and operation company to exercise shareholder power and efficiently utilize assets.
Now Huatong Yajin has a new look. The casting workshop and heat treatment workshop were renovated, and a 4,000 square meter mechanical processing workshop was added, laying a solid foundation for transformation and upgrading to cultivate diamond complete equipment products.
Huatong Yajin is full of confidence now. As the main product after the transformation of Dezhu Special Steel, the six-sided top hydraulic press is the core equipment for preparing and cultivating superhard materials , such as diamonds and diamonds and , with high technical content and broad market prospects.
In recent years, thanks to the rapid development of emerging industries such as military industry, nuclear power, electronic information, and automobile manufacturing, large CNC machine tools, high-efficiency precision CNC machine tools, ultra-precision CNC machine tools, etc., the domestic market demand for superhard materials such as diamonds and composite sheets has reached a high-speed annual growth rate of 32.6%.
In the next three years, Huatong Yajin will continue to improve its industrial layout in six-sided top hydraulic presses, high-tech casting and forgings, diamond superhard materials, etc., and build it into an industry leader in the fields of superhard materials and high-end equipment. While revitalizing existing assets, Huatong Group also creates opportunities for Qingdao to cultivate the diamond equipment industry from scratch and from small to large, helping Qingdao to become a new cluster area for the superhard materials industry.
"mixed operation" is an important achievement of Qingdao Huatong Group's innovative capital utilization methods and cure losses and reduce losses. It is also a useful attempt by Qingdao City to promote the reform of state-owned enterprises, promote the optimization of the layout and structural adjustment of the state-owned economy, and enhance the vitality, influence and control of state-owned capital. In the future, Huatong Group will also actively promote old enterprises such as Qingzhu Equipment, Haiyi Plastics, and power station valves to embark on the road of reform. (Qingdao Daily/Guanhai News Reporter Wang Wei)
