"I didn't get depression under such great pressure, and I didn't get it."
65438+1October 17, Beijing Chinalco Building. Sitting in a seat about 1 m away from the reporter of China Business News, Xiong Weiping pushed aside a dozen thick materials and said, "Actually, I don't want to follow them. Since it is a forum, it may be more realistic to talk casually. "
Xiong Weiping is currently the chairman of China Aluminum (hereinafter referred to as "Chinalco") and concurrently the chairman of China Aluminum (60 1600). Shh). Compared with the previous two leaders, Xiong Weiping, who returned to Chinalco in 2009, faced a more complicated market. China Aluminum, which he was in charge of, lost more than 8 billion yuan the year before, but half of the credit for turning losses last year came from asset disposal.
As the largest aluminum product company, Chinalco failed to show its ability to resist the industry cycle. Xiong Weiping asked himself, "We didn't become the best enterprise in the industry when it was bad. Why is the loss so serious? "
Facing the reporter of China Business News, Xiong Weiping spoke openly to Kan Kan about Chinalco's predicament and its efforts to extricate itself from difficulties. Chinalco, which is in charge of the company, has a huge loss, and naturally there is a hurdle in its chest that is difficult to resolve, so this time, "speak out, get it off your chest."
Talking about industry: helplessness to the market
"We suffered heavy losses the year before last. Only the joint-stock company lost 8.23 billion yuan, and the hats of the top ten loss-making households were heavily pressed on their heads. " Xiong Weiping talked about this topic, talked about the excitement, raised his left hand and gestured back and forth to make people understand what he was thinking.
Xiong Weiping has a clear understanding of Chinalco's current predicament. He believes that the first major reason for Chinalco's huge losses is that its business, especially aluminum business, is in an industry with overcapacity. "After I returned to Chinalco in 2009, I really didn't catch up with the good times and was really helpless to the market."
By the end of last year, the national electrolytic aluminum production capacity was 34 million tons, but only about 24 million tons could be put into production, and the operating rate was only about 70%. What's more, in recent years, the price of aluminum has almost fallen unilaterally: the average price is 2018,000 yuan, 2016,000 yuan, and 2016,000 yuan.
This price level has been lower than the industry average cost line.
The impact from the market can't cover up the problems that Chinalco has had for many years.
Why didn't Chinalco become one of the best enterprises when the industry was bad? The result of Xiong Weiping's thinking about this is the second biggest reason for losses of Chinalco and its listed companies: there are some loss-making industries, but not all of them are loss-making enterprises. "The pressure of our loss is not only caused by the big market, but also by our own lack of competitiveness."
China Aluminum 200 1 was formally established. It has a history of more than ten years, but it is like a heavy old car, full of a number of old enterprises with relatively backward technology and equipment and production capacity. The first alumina plant in China and the aluminum processing enterprises in the electrolytic aluminum plant are both in Chinalco, and they are still producing, but the market has changed for so many years, and many enterprises that used to make money began to lose money.
"Alumina enterprises are losing money. First, backward production capacity is not Bayer method, and energy consumption is higher than others. This production capacity is about 4 million tons; The second is that there are many people. A 2 million-ton alumina plant with 1 000 private enterprises. When I came back in 2009, there were 1.200 people, including 1.000 cadres at or above the division level. How do you compare? "
In contrast, Wei Qiao, Xinfa and other private aluminum enterprises mostly need raw materials from abroad, and adopt low-temperature Bayer process. The high-temperature Bayer process has a temperature of 260 degrees Celsius and a low temperature of 140 degrees Celsius, which is only half of the energy consumption. However, because Chinalco does not have its own power plant, the average electricity price is 0. 12 yuan/kwh higher than that of private enterprises, and from the perspective of comprehensive power consumption, it is more than 1680 yuan per ton.
Xiong Weiping also said that there is still a big gap between the internal marketization of the system and mechanism and other companies, the core of which is reflected in three aspects: "Whether managers can go up or down, whether employees can go in or out, and whether income can go up or down is also a common problem of state-owned enterprises".
Our reporter learned from Chinalco that after several years of efforts, Chinalco's current alumina plant still has an average of 6,000 to 8,000 employees, of which in the fourth quarter of last year, Chinalco lost 1.9 million due to retirement. "If the number of employees can reach the level of private enterprises, I will not lose money." But this is almost impossible. "Chinalco cannot suddenly fall into the same position as private enterprises." Xiong Weiping said.
Listed companies: turning losses from capital operation
Back to 20 12, the loss of China aluminum industry in that year was locked at 8.23 billion yuan. Until the third quarter of last year, although this central enterprise had greatly reduced its losses, its losses were still more than1.800 million.
If 20 13 continues to lose money, China Aluminum will have to wear the hat of ST, and Xiong Weiping, the company's helm, will be affected by "the market's incomprehension, the resentment of shareholders, the bank's consultation and the cost of issuing bonds".
Fortunately, the aluminum industry in China has improved. It is estimated that the company will turn losses into profits in 20 13, and the net profit attributable to shareholders of listed companies is about 10 billion yuan. "The year before last, it lost more than 8 billion yuan, and last year it was profitable 10 billion yuan. A big number is 10 billion yuan. " According to Xiong Weiping's calculation, not only did China Aluminum achieve profit last year, but China Aluminum also significantly reduced its losses.
How did the loss reduction scale of 654.38 billion yuan come from?
Selling assets to China Aluminum, the major shareholder of China Aluminum, is the main means.
Xiong Weiping admitted to our reporter that, on the one hand, it was indeed the joint-stock company that made two capital operations with Chinalco. "On one occasion, I bought the whole aluminum processing business, and I also bought the Guizhou Alumina Factory. This piece is about 654.38+0 billion; The second is the replacement of the Simandu iron ore project, which is expected to be 5.4 billion, totaling more than 6 billion twice. "
China Aluminum is also trying to turn losses. "China Aluminum lost 3 billion yuan last year, and the price factor was 3.6 billion yuan, which means that it actually lost 6 billion yuan."
According to Chinalco's calculation, Chinalco can successfully turn losses, and capital operation accounts for about two-thirds of the credit. If the price factor is included, trading with the assets of major shareholders is equal to half of the income, and the other half is on ourselves.
In fact, among all the business sectors of China Aluminum, only the aluminum sector is still losing money. After adjustment, Chinalco has transformed from a single aluminum company to a comprehensive mining company, in which the proportion of aluminum assets has dropped from 90% to 46%, and the proportion of sales revenue has dropped to 40%. In 20 13, other businesses except aluminum contributed 4.35 billion yuan to the company.
According to Xiong Weiping, the above assets sold to major shareholders will also be further processed. "Under the platform of Chinalco, it is being cultivated, incubated and advanced. We are confident that we will be profitable within one or two years. If we lose money, we will close it and return it to the aluminum plate in due course, depending on the situation of listed companies. "
About the future: whoever rises is the sun.
"Our goal is 20 15 to get rid of the predicament in essence. If the market is good, this goal will be achieved soon, but I didn't expect the market to be so difficult. " At the forum, Xiong Weiping told the reporter of China Business News.
In Xiong Weiping's eyes, the essence of extricating itself from difficulties is not only that Chinalco should be profitable as a whole, but also that all its sectors, especially the aluminum sector, should be profitable. "We can't lose money because of the economic cycle. 20 1 1 We are also profitable, but not essential. "
In order to achieve this goal, China Aluminum began to implement internal operation transformation on 20 10.
Our reporter learned that the Southwest Aluminum Plant under Chinalco began market-oriented reform in 65438+February the year before last. The specific way is to select the top leaders of enterprises through market-oriented, and then the general manager nominates and sets up a management team to set a three-year business goal, and then mortgages millions of management risks, while employees are linked to welfare, such as piece rate and quota. "The elected general managers are all in my field of vision, but the difference is that now a group of people compete, at least one general manager comes out, and 5 to 1 1 people compete for posts. The bear said.
The effect is obvious. Among them, the original budget loss of Southwest Aluminum Factory was 230 million yuan, and the final profit was 50 million yuan. China Aluminum currently has 17 market-oriented reform units, which contributed 2 billion yuan last year.
"This kind of market-oriented reform is only the beginning, and it is impossible to follow one road and one model. Last year, the simulated legal person contracted and leased was promoted, which is very strong this year. One is to promote the mixed ownership economy, and the other is to take the lead in piloting employee stock ownership. The standard is' after the reform, is the efficiency improved, the vitality of the enterprise enhanced, the income of employees increased, and the mental state of employees improved'. " Xiong Weiping said.
According to Chinalco's vision, in addition to the key guarantee of resources and military materials, enterprises in other competitive industries such as electrolytic aluminum and alumina are also open to the outside world, holding shares and participating in shares. Take the rare earth plate as an example. "The next step of market-oriented reform will make rare earth truly become the market subject of modern enterprise system with diversified property rights and standardized legal person structure, and let it work hard in the market."
In addition to the enterprise's own reform, Xiong Weiping also expects the external economic environment for Chinalco's survival to change. "China's development mainly depends on the real economy, and it is impossible not to break the two monopolies in the next step. One is bank monopoly. I recently visited six major banks, each with a profit of more than10 billion; The second is the power grid monopoly. " However, he is only cautiously optimistic about this. "There is a process that needs comprehensive adjustment." "If enterprises want to survive, Chinalco will definitely develop rapidly after it comes."
"Chinalco has its moments of glory, its moments of hardship and its moments of glory," Xiong Weiping said. "Whoever rises is the sun."