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The aircraft heavy machine termination or additional wind power equipment manufacturers will continue to spend the winter

  The aircraft heavy machine (600 765) 24 Notice to terminate a major reorganization of assets, because the main subject of business to be acquired in flight performance decline Teng-hui, continued profitability uncertain future. This once again confirms the wind power equipment industry continues to slump in the status quo.

    Hui Teng-than-expected results

    The aircraft heavy machine placement of the main subject of the business to be acquired in the Air Teng-hui is the largest supplier of wind turbine blades. The aircraft heavy machine said, because this year the state industrial policy continued to tighten wind power and wind power equipment market capacity and other factors decline sharply, the Air Teng-hui to future operatingratchet tie dowm results and sustained profitability, stability there is a big uncertainty.

    According to the aircraft heavy machine's semi-annual report, the Air Teng-hui in the first half loss of 107 million yuan. Since last year, the Air Teng-hui's performance decline in a row. Air Teng-hui in 2010, achieved net profit attributable to parent company, 44.1731 million yuan, more than 346 million yuan in 2009, down 87%.

    It is because of the decline in the performance of Air Teng-hui, the aircraft heavy machine was in March this year had to adjust additional options, reduced issuance of shares.

    According to the aircraft heavy machine in October 2010 announced additional plans, the company intends to China Aviation Industry Group, your flight (Group) Company, Huiyang propeller company, KMT Wind (Hong Kong) and three other company's private placement purchase of new energy and malleable plates assets, specifically including Guizhou Aviation casting Angelina's 100% stake in the aircraft industry 30.7% of new energy investment company shares, the Air Teng-hui and 80% of the shares authorized to manage your way Air Group acquired 12 state-owned land use rights. The estimated value of 1.792 billion yuan of assets, according to issue price 15.35 / share basis, is expected to issue 116 million shares.

    The private placement to buy major assets in the Air Teng-hui in 2009, the company earned 346 million yuan. Insider said, "do not know the route so a baby Baoding hidden assets." Farewell, but with the wind power market, the explosive growth in the aviation Teng-hui in 2010 net profit dropped sharply. This led to additional changes in aircraft heavy machine program.

    In March, the aircraft heavy machine will purchase the assessed value of the assets down to 1.457 billion yuan, down to 9494.17 million additional shares.

    In order to successfully complete the issuance, the aircraft heavy machine replacement in the aircraft Teng-hui's leadership, and made a profit target. Under the new leadership plan in May of this year, the Air Teng-hui is expected to be completed this year, 2.02 billion yuan of sales revenue, net profit of $ 117 million. Under the plan, the Air Teng-hui in the first half is expected to complete 6 billion in revenue, net profit of 30 million yuan. Obviously, Hui Teng target during the first half is far from complete.

    Wind power industry downturn

    Decline in the performance of wind power equipment manufacturers should be attributed to raw material price increases and market competition.

    Statistics show that since July last year, prices rose more than 200% of rare earth. NdFeB main raw material and metal neodymium oxide, praseodymium prices by 6 times. This leads to the cost of wind power manufacturers have increased significantly.

    Some analysts estimate prices push by NdFeB permanent magnet, permanent magnet unit cost per kilowatt-year increase of over 200-300 dollars. Each 1.5MW direct-drive permanent magnet machines margins will drop as 10 percentage points.

    "Due to rising raw material prices, including Jinfeng technology vendors, including wind power machine parts down the purchase price, or even limited production." A brokerage analyst said.

    Semi-annual report just released the Hunan Electric shares disclosed in its wind power equipment gross margin is only 8.03%.

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