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It is understood that China General Technology Group has signed a strategic restructuring framework agreement with Haliang Group.
Relevant persons of China General Technology Group refused to disclose detailed information when they consulted by this reporter, but in Harbin, this news has been widely disseminated. At the symposium on Harbin's state-owned enterprise reform and state-owned assets supervision work held earlier, relevant people said that after the completion of the restructuring of China General Technology Group, it will take 3 to 5 years for the restructured enterprises to enter the capital market and form 15 The industrial scale of about 100 million yuan.
China General Technology Group is a large-scale central enterprise focusing on export trade and technology research and development. “Restructuring Haliang Group is a reflection of the company’s transfer to physical manufacturing.†China General Technology Group told the reporter.
According to the information on reorganization and restructuring, in March 1998, China General Technology Group was invested by China National Technology Import and Export Corporation, China National Machinery Import and Export Corporation (Group) Co., Ltd., China National Instrument Import and Export Corporation, China Overseas Economic Cooperation Corporation, and China Pharmaceuticals. Six major influential foreign trade and economic enterprises, including the Health Products Import and Export Corporation and China International Advertising Corporation, were established.
As one of the 55 key enterprises directly managed by the central government, China General Technology Group is active in China's economic field. It is the main channel for China to introduce foreign advanced technology and equipment, and the main force for exporting mechanical and electrical products, complete sets of equipment and foreign contracted projects. By 2008, the cumulative completion of trade and engineering contracting operations exceeded US$200 billion.
In recent years, China General Technology Group has determined the strategic goal of transforming, upgrading and strengthening the Group by restructuring and reorganizing, respectively, with China National Light and Industrial Products Import and Export Corporation, Qiqihar Second Machine Tool (Group) Co., Ltd., Henan Tianfang Pharmaceutical Group has carried out a joint restructuring and started its road of transferring from science and technology enterprises to “science, industry and tradeâ€.
Haliang Group, which will soon be included in the General Technology Group, formerly known as Harbin Measuring and Cutting Tool Factory, was officially put into operation in 1955 as one of the 156 key projects aided by the former Soviet Union during the “First Five-Year Plan†period.
However, in the 1990s, it was plagued by internal and external problems such as the system, mechanism, and “triangular debtâ€. The once glorious Harbin Group was struggling. By the beginning of the year of 1999, the cumulative loss of the amount of money reached more than 37 million yuan, and the employees were in arrears for 8 months. At this time, Haliang Group is brewing and restructuring, including the reduction of the original state-owned shares from 100% to 56% through employee participation. Afterwards, through the introduction of strategic investors, the state-owned shares and employee stocks were further reduced, realizing the diversification of property rights, and maintaining state-owned shares and employee stocks accounted for more than 51% of the total share capital.
Not only that, in March 2005, Haliang Group reorganized the German Kaishi Company, which is in the leading position in the international machine tool industry. At present, Haliang Group is in a leading position in China and the world in the world of measuring tools and cutting tools.
However, due to the acquisition of a part of the equity assets by several financial asset management companies in the process of debt-to-equity swaps, the reorganization of China's general technology has been complicated. "The historical mission of these asset management companies is to help enterprises to tide over the difficulties to a certain extent. After completing the historical mission, they should quit. But seeing the amount of Harbin is good, they are reluctant to leave." China Machine Tool Industry Association Honorary Chairman Liang Xunqi revealed to the reporter.
Liang Xunzhen also revealed that after several rounds of negotiations, the issue of holding assets of the asset management company has been basically settled, which has cleared the way for the final restructuring of China's general technology.
It is also known that since the amount of registered capital of Haliang Group was only 165 million yuan in 2003, Liang Xunyi told this reporter that “Hasize Group may not be as large as one-tenth of the size of Qiqi, but compared with the mainframe manufacturing, Measuring tools, tools, and measuring instruments are important components in machine tool manufacturing. China GM is not bound by the external eye, and is strategically very far-sighted."
General Transformation For China's general technology, the acquisition of Haliang Group is actually an improvement of “advanced manufacturing†among its four pillar businesses.
According to the company website of China General Technology Group, its four pillar industries are: advanced manufacturing, international trade and engineering contracting, pharmaceutical industry and R&D design consulting.
In September 2007, China General Technology Group’s party group expanded its meeting to determine its policy of “promoting the advancement of R&D and design consultancy to advanced equipment manufacturers and trade integration service providers.†At that time, “advanced manufacturing†was listed as The group's four pillars of business.
He Tongxin, chairman of China General Technology Group, said in an internal article that the reorganization of China National Light and Industrial Products Import and Export Corporation, Qiqihar Second Machine Tool (Group) Co., Ltd. and Henan Tianfang Pharmaceutical Group has made China General Technology Group’s total assets It has increased by 10.5 billion yuan, operating income has increased by 12.8 billion yuan, and total profit has increased by 267 million yuan. "To make the large-scale enterprise group of science, industry and trade integration from concept to reality."
It is understood that in the past February, China General Technology Group once again signed a strategic cooperation agreement with Bank of Communications, Bank of Communications will provide the Group with an intentional credit line of 20 billion yuan to support the construction of four pillar industries and implement transformation and upgrading.
"By 2013, we will basically complete the strategic transformation to advanced equipment manufacturers, trade integration service providers and R&D design consultants, and initially build an industrial chain based on technology trade, technology industry-led, and technology research and development. The value chain, the large-scale enterprise group integrating science, industry and trade has begun to take shape."
Mergers and acquisitions
On March 3, the reporter learned from China General Technology Group that China General Technology Group is about to acquire Harbin Measuring and Cutting Tool Group Co., Ltd. (“Haliang Groupâ€).