Losses exceeded 2.6 billion yuan, and "bad debts" accumulated over 7 billion yuan.
19 On the evening of February 19, China Heavy Industry announced that it would sell 53.05438+0% equity of Shanzao Heavy Industry and 67% equity of Qingdao Wuchuan Heavy Industry to China Shipbuilding Industry Corporation, the controlling shareholder, at zero consideration.
According to the shareholder information, Shanhaiguan Shipbuilding Industry Co., Ltd. (Shanzao Heavy Industry) is a holding subsidiary of Shanchuan Heavy Industry, and China Heavy Industry's wholly-owned subsidiary (Qingdao Wuchuan) is a subsidiary of Wuchuan Heavy Industry, a wholly-owned subsidiary of China Heavy Industry.
China Heavy Industry explained that the sale was to avoid the negative impact of the continued downturn in offshore business on the overall efficiency of the company. According to the announcement, the total zero profit of Shanzao Heavy Industry and Qingdao Wuchuan in the past two years was-26438+696 million yuan. The heavy losses of Zizyphus jujuba Heavy Industry and Qingdao Wushu Ship have brought a certain drag on the overall benefit of China Heavy Industry.
In fact, in the past few years, the frequent cancellation and change of orders for offshore projects have brought heavy losses to Shanzao Heavy Industry and Qingdao Wuwu, and these irreparable losses of offshore orders are even equivalent to twice the net loss of the shipyard.
China Heavy Industry said that the offshore platforms under construction by Zizyphus jujuba Heavy Industry and Qingdao Wushu Ship occupied a lot of funds of China Heavy Industry. Both shipyards are faced with the problem of difficult disposal of offshore platforms under construction. Among them, the offshore project of Ziziphus jujuba Heavy Industry may bring losses of more than 5.7 billion yuan, which is about twice the total net loss of 2.663 billion yuan since 20 14; The loss of Qingdao Wushu in the field of marine engineering may be close to 654.38+04 billion yuan, and its net loss since 2065.438+06 is about 965 million yuan. The accumulated losses of the two shipyards on offshore projects are nearly 7 1 100 million yuan.
The report shows that the two shipyards have transferred their main assets to Shanchuan Heavy Industry and Qingdao North Ship respectively, and there will be no new shipbuilding contract in the future, only the current hand-held orders will be completed, and the follow-up business plan has not yet been determined. At present, the projects under construction of Shanzao Heavy Industry and Qingdao Wuchuan both contain a large number of offshore platforms that are difficult to deliver, and the losses of these offshore projects also account for a considerable share of the losses of the two shipyards.
About 5.7 billion yuan has not been recovered, and four jack-up drilling platforms of Shanzao Heavy Industry have been cancelled.
The offshore projects under construction of Shanzao Heavy Industry include four CJ50 jack-up drilling platforms with a total price of about 872 million US dollars (about 6.024 billion yuan). However, in the case that the first three platforms were cancelled and the fourth platform was likely to be cancelled, Shanzao Heavy Industry only received 5% of the advance payment, and the remaining 95% of the loss of about 5.7 billion yuan has not been recovered.
It is understood that in 20 13, Shanzao Heavy Industry and China Shipbuilding Industry International Trading Co., Ltd., as joint sellers, signed two CJ50 jack-up drilling platforms construction contracts (CJ50-0 1/02) with Singapore shipowner FTS Derek Pte Ltd., and then the two parties signed two CJs on September 2, 20 13. The price of each platform is 2180,000 USD (about RMB15.06 million yuan).
At that time, this order was the first time for Shanchuan Heavy Industry to build CJ50 platform, and it was also the first time for China to undertake a new platform, all of which realized automatic control and had the international leading level. The project quantity and contract amount are the highest in the history of Shanchuan Heavy Industry.
According to the construction contract, when the contract comes into effect, the shipowner will pay 5% advance payment of US$ 6,543.8+US$ 009,000 (about RMB 752.8 billion) for each platform, 5% progress payment of US$ 6,543.8+US$ 009,000 when the platform is launched, and the final payment and contract price adjustment amount will be paid when the platform is delivered. Jujube Heavy Industry began to build the first platform in June of 20 1 13, and launched four platforms from June of 20 16 to June of 20 17. However, when these four platforms were launched, the shipowner refused to pay the due 5% progress payment.
After launching, these four platforms are currently in a state of shutdown, and the installation and commissioning work has not continued. According to the international shipping network, Zizyphus jujuba Heavy Industry has only received 5% advance payment from four platforms CJ50, and each platform is $6,543,800+0.09 million, accounting for $43.6 million. The USD 43.6 million (about RMB 301.1.1.90 million) paid when the platform went online has not been paid to Ziziphus jujuba Heavy Industry.
Since the construction of the four platforms of 20 14, the annual loss of Ziziphus jujuba Heavy Industry has been continuously expanding, and the net loss has increased from 280,550,700 yuan in 20 14 to 730,697,700 yuan in 20 15 and 679,889,300 yuan in 20 16. The loss of 5.7 billion yuan brought by these four platforms is almost twice the net loss.
20 17 in may, jujube heavy industry and the shipowner unanimously agreed to terminate the construction contracts of the first three platforms. Due to the termination of the construction contract, Shanzao Heavy Industry can dispose of the first three platforms through resale or lease. According to the international shipping network, for the fourth platform, jujube heavy industry is still communicating with shipowners. If the communication fails, both parties will also terminate the contract, and then Shanzao Heavy Industry can also dispose of the platform through resale or lease. However, after 2065438+June 2007, there was no new progress in the construction and commissioning of these four platforms, and they remained idle in the shipyard.
The loss was nearly 6,543.804 billion yuan, and many marine projects under construction in Qingdao Wushu Ship ran aground.
Similar to Zizyphus jujuba Heavy Industry, Qingdao Wushu is also facing various problems caused by the difficulty in successfully delivering orders for offshore projects under construction. The grounding project of Qingdao Wushu includes two underwater robot support ships (RSV) and a jack-up drilling platform. Due to the cancellation and change of orders, these offshore projects may bring losses of nearly 654.38+04 billion yuan to Takeshi Aoshima Technology.
In the past few years, Qingdao Wushu has sustained losses, with net profit of 20 17 years-/979332 million yuan, net profit of 20 17 years-17467.170,000 yuan and 20 18 years. Obviously, the huge loss of offshore projects is undoubtedly an important reason for the continuous loss of Qingdao Wushu.
20 15 On April 6th, Takeshi Aoshima Tech signed two RSV construction contracts with the Greek shipowner TOISA LIMITED. The dynamic positioning and lifting equipment of these two RSV are the most advanced robot support ships in the world. The price of each RSV is USD 55 million (about RMB 379.85 million), and the contract amount is USD 65,438+1 10,000. However, it is reported that the actual construction cost of related RSV is likely to exceed $60 million.
According to the international shipping network, the original delivery date of these two RSVs is in the middle of 20 17. However, with the bankruptcy and reorganization of the shipowner TOISA, in June 20 18, Qingdao Wuchuan received a notice from the shipowner and unilaterally requested to terminate two RSV contracts. After that, Wu Chuan contacted two new buyers of RSV through the shipping trading company, and signed a preliminary sales intention contract. It is estimated that each ship can make a profit of 292.4 million yuan (about 42 million US dollars), which is more than 6.5438 million US dollars lower than the original contract price and 6.5438 million US dollars lower than the actual construction cost of 60 million US dollars. This means that Qingdao Wushu may lose 65.438+0.3 billion yuan in the construction of these two RSVs.
In addition, Qingdao Wushu signed the CJ46 jack-up drilling platform construction contract with Singapore shipowner Blue Ocean Drilling Company on 20131,which is the first time that Wushu has built mainstream offshore engineering drilling and production equipment as a general contractor. However, the delivery time of the platform has been delayed repeatedly, from the original 20 15 12 16 to May next year at the latest.
The total contract value of the jack-up drilling platform is $654.38+99 billion. Considering that only 5% to 654.38+00% of drilling platforms built by China Shipyard are usually paid in advance, most of the rest will be paid at the time of delivery. This platform of Qingdao Wushu may still have nearly $6,543.8 +0.8 billion (about RMB 6,543.8+0.243 billion) unpaid.
Oil prices are unstable, and the recovery of offshore market is far away. The offshore projects under construction, such as Jujube Heavy Industry and Qingdao Wuchuan, are likely to continue to run aground and it is difficult to find a way out. Even if it is successfully sold in the future, it may be difficult to recover all the heavy losses caused by huge costs. Although China Heavy Industry can greatly "improve" the company's profits by selling two shipyards, offshore projects may still be the main factor affecting the future performance of CSIC.