A few days ago, the State Post Bureau deliberated and issued "Guiding Opinions on the Merger and Reorganization of Express Delivery Enterprises" (hereinafter referred to as "Opinions"), indicating that it will actively strive for preferential policies such as finance, taxation and land to support the merger and reorganization of express delivery enterprises, and strive to cultivate a number of large express delivery enterprises with annual income exceeding 10 billion and strong international competitiveness within five years. During the "Twelfth Five-Year Plan" period, that is, before 20 15, the concentration of express delivery industry will be significantly improved through mergers and acquisitions.
In fact, as early as before the promulgation of the Opinions, the integration of the domestic express delivery industry has begun to embark on the fast lane. Last year, Star Express was successfully invested by Alibaba, private express company Tian Tian Express was formally merged into HNA Group, and Best Logistics acquired Huitong Express, which ranked sixth in the industry ... More express companies are negotiating with investment institutions including IDG, Lenovo, Fosun, CDH, Huaping and Yu Xintian, and there may be more express mergers and acquisitions in the future.
As the price war intensifies, restructuring is imperative.
In recent years, the scale of express delivery service has expanded rapidly. Last year, the business volume of express delivery service enterprises above designated size reached 2.34 billion pieces, a year-on-year increase of 25.9%. The income of express delivery business accounts for 45% of the total income of the industry, and the basic role of serving the national economy is increasingly apparent. However, "problems such as small scale, weak strength, scattered management, low industrial concentration, lagging management ability, price war, frequent delays, and loss of spare parts have attracted national attention." Ma Junsheng, director of the State Post Bureau, presided over the 99th director's office meeting and said that the ultimate goal of promoting the merger and reorganization of express delivery enterprises is to optimize the industrial layout, change the development mode, and promote the transformation, upgrading and leapfrog development of the express delivery industry.
The reporter learned that there are tens of thousands of express delivery enterprises in China, of which more than 8,000 have obtained express delivery business licenses from the State Post Bureau. There are only two postal E M S and SF Express with a scale of tens of billions. The scale of "Three Links and One Reach" in the second camp is generally 654.38+0 billion yuan, and many small enterprises in the third and fourth camps are below 1 0 billion yuan. Xu Yong, chief consultant of China Express Consulting Network, said that most private express delivery enterprises are basically concentrated in the low-end market of domestic off-site business, with business volume close to 60%, but revenue less than 50%.
According to the latest data released by the State Post Bureau, the average unit price of express delivery business last year was 24 .6 yuan, down 1. 2 yuan from the end of last year. Among them, the average unit price of express delivery service in different places was 18.8 yuan, down from the end of last year 1.4 yuan. The price war has further deteriorated. "The reorganization of the express delivery industry in China is imperative," Xu Yong said.
E-commerce or joining the tide of mergers and acquisitions
The "Opinions" put forward that the state has six key points in promoting the merger and reorganization of the express delivery industry, namely, encouraging the merger and reorganization of different types of express delivery enterprises; Encourage franchised express delivery enterprises to merge and reorganize; Encourage the merger and reorganization of express delivery related industries; Encourage express delivery companies to use the capital market for mergers and acquisitions; Encourage mergers and acquisitions of express delivery companies with different ownership systems, and encourage cross-border mergers and acquisitions of superior express delivery companies.
"The merger and reorganization between horizontally related industries began last year," Xu Yong said. The reporter learned that on March 29th last year, Alibaba and Chen Xing Express Company formally signed a cooperation agreement. The former invested 30 million yuan in the latter, acquired some shares and cooperated with e-commerce distribution. In May last year, North Logistics (Holdings) Co., Ltd., a subsidiary of HNA Group, signed a cooperation agreement with the Zhan brothers, the founder of Express, and the two parties will reorganize Express by way of joint venture. In the new joint venture "HNA Express", HNA Group holds 60% of the shares and Zhan Brothers holds 40%. However, the most interesting thing is that Ma Yun and Guo Taiming invested in Baishi Logistics Technology Co., Ltd. and acquired 70% equity of Huitong Express, which ranks sixth in the industry.
In addition, the emerging online shopping market in recent years has provided new investment impetus for the express delivery industry. The data shows that in 2008, the number of parcels driven by e-commerce in China exceeded 500 million, accounting for about 1/3 of the annual business volume of express delivery industry. According to the Research Report on Online Shopping Market in China in 2009 released by C N N IC, the total online shopping consumption in the first half of 2009 was11952 million yuan, and some e-commerce enterprises set foot in the express delivery industry.
Liu, Chairman and CEO of JD.COM Mall, revealed that in 20 1 1 year, JD.COM Mall will continue to increase its logistics investment, and at the same time start construction of 7 first-class logistics centers and 25 second-class logistics centers. The recent third round of financing of $6,543.8 +0.5 billion will also be almost entirely invested in logistics and technology research and development construction projects, and 5-6 billion yuan will be invested in logistics construction in the next three years. "Self-built distribution e-commerce companies including JD.COM, Dangdang and Ke Fan may also become a force in the merger and reorganization of the express delivery industry in China." Xu Yong said.
There are many problems after horizontal acquisition.
However, Xu Yong believes that the horizontal M&A of the express delivery industry in China faces great challenges. "At present, the influence of M&A and the acquired companies on the market has not yet emerged. Whether it is HNA or Baishi, after the merger, it is obvious that how franchisees transform, how to develop ideas, and how to promote strategic development in business structure have not yet entered the operational level. " Xu Yong said that he personally believes that this shows that horizontal affiliates have insufficient understanding of entering the express delivery industry.
The express delivery industry has to face three major challenges. First, capital investment will affect many follow-up factors. Secondly, talents, especially the training of professional managers in the express delivery industry; Finally, what kind of new business model should be established. In the business model of capital, talents and technology, the core is capital. "That kind of toothpaste-squeezing investment model is not suitable for express delivery companies, and it is difficult to have an impact. Therefore, mergers and acquisitions that are blindly impulsive than rational will not succeed. "
The reporter learned that recently, the international express delivery giant D H L announced that it would fade out of the domestic express delivery business. It is reported that the company will sell its 0/00% shares of Sinotrans Quanyi Express/KLOC-0 to Shenzhen Youhe Daotong Industrial Co., Ltd. at the bargaining price of 1 100 million yuan before the end of July, and the purchase price of DHL in 2009 was 300 million yuan. Analysts in the logistics industry of CITIC Construction Investment believe that the reason for its withdrawal is that the low-price competition in the express delivery industry in China and the high cost of laying the network are quite different from investors' expectations.
Vertical acquisition lacks financing channels.
But "the most difficult thing is the vertical M&A of China express industry", Xu Yong thinks.
The reporter recently learned that China Post Express has begun to enter the IPO process. Once successfully listed, it will become the first express listed company in China. In addition, the listed companies in China's logistics industry are mainly concentrated in ports, docks, shipping, information technology and other fields, and there are no real listed companies in the express delivery industry.
"Direct-operated enterprises are generally more likely to go public, but there are not many direct-operated networks for express delivery enterprises in China." The owner of a logistics company in Guangzhou said that according to the statistics of the General Post Office, by the end of 20 10, there were 2 176 express delivery independent sorting centers with 64,000 outlets, an increase of 84% over the end of last year. However, most of these outlets belong to non-direct franchise outlets. "They are cost-oriented and have diversified interests. If the new competitors in the industry will not have a big impact on them and there is still room for survival, they will generally not be able to transform into professional managers in the express delivery industry. This gene cannot be changed. "
However, before Daejeon, Tianjin, several express delivery companies with direct network were acquired by FedEx, and D D S closed down. There are only a handful of China express companies that have the strength to go public, such as SF Express and ZJS. "There is no financing channel, which means that there is no funds to support mergers and acquisitions."
Fully open the domestic parcel delivery market and issue licenses to foreign companies.
2065438+On September 24th, 2004, the executive meeting of the State Council was held to deploy and improve the accelerated depreciation policy of fixed assets, promote the technological transformation of enterprises, support the entrepreneurial innovation of small and medium-sized enterprises, and decide to further open the domestic express delivery market to promote fair and orderly competition among domestic and foreign investors.
The meeting pointed out that in order to conform to the trend of the new technological revolution and promote China's economy to the middle and high-end level, we must make great efforts to promote technological transformation of enterprises. By improving the current accelerated depreciation policy of fixed assets, reducing the tax burden, speeding up enterprise equipment renewal, scientific research innovation, expanding manufacturing investment, and promoting mass entrepreneurship, it is of great significance to "break through the cocoon" of traditional industries, enhance the stamina and vitality of economic development, and achieve quality upgrading, efficiency upgrading and sustained and stable growth.
The meeting determined that:
After 1 .201410/0, the newly purchased instruments and equipment for R&D by enterprises in various industries, whose unit value does not exceed110,000 yuan, are allowed to be included in the current cost at one time and deducted before tax; If it exceeds 6,543,800 yuan, the depreciation period can be shortened by 60%, or the depreciation can be accelerated by methods such as double declining balance.
Second, fixed assets with a unit value of less than 5,000 yuan held by enterprises in various industries are allowed to be included in the current cost at one time and deducted before tax.
3. For the fixed assets newly purchased by biopharmaceutical manufacturing, special equipment manufacturing, railway, ship, aerospace and other transportation equipment manufacturing, computer, communication and other electronic equipment manufacturing, instrument manufacturing, information transmission, software and information technology service enterprises after 20 14+ 1, the depreciation period is allowed to be shortened by 60% according to the specified years, or timely according to the implementation situation. The meeting called for speeding up the implementation of the above policies, striving to arm "Made in China" with advanced technology and equipment, and launching products with higher added value and stronger market competitiveness.
meaning
Expanding all-round active opening-up and creating a business environment in which domestic and foreign-funded enterprises treat each other equally and compete fairly is a major policy orientation that China has long adhered to. At present, China's international express delivery business has been basically opened to foreign investment, and domestic express delivery business in major cities has also been opened to some foreign-funded enterprises in batches. According to China's commitment when it joined the World Trade Organization, further opening up the domestic market and allowing domestic and foreign express delivery enterprises to compete on the same stage will help to force domestic enterprises to improve their management and service levels and give consumers more choices. At the same time, promoting the express delivery industry to become the "dark horse" of the development of modern service industry can also promote the logistics industry in by going up one flight of stairs, further invigorate circulation, stimulate domestic demand, increase social employment, and actively contribute to stabilizing growth, restructuring and benefiting people's livelihood. The meeting decided to fully open the domestic parcel delivery market and issue business licenses to foreign-funded express delivery enterprises that meet the licensing conditions according to the approved business scope and business area. The meeting stressed that it is necessary to adhere to the combination of release and management to ensure the orderly and healthy development of the express delivery industry. First, improve business licensing procedures and strengthen qualification examination. Simplify procedures and improve efficiency. The second is to promote the coordinated development of express delivery, e-commerce and manufacturing, smoothly connect with the comprehensive transportation system, and support the solution of problems such as the difficulty of urban express delivery vehicles. Ensure the safety of delivery. The third is to encourage express delivery companies to merge and reorganize, and improve and implement the filing and review system for foreign mergers and acquisitions. Strengthen the management of agents and franchisees, and seriously investigate and deal with illegal business, out-of-scope business, illegal agency and other acts. Let the sunrise industry of express delivery be more prosperous, create conditions for stimulating residents' consumption, and provide convenience for the vast number of businesses and hundreds of millions of people.