On February 16, 2013, the National Development and Reform Commission issued the Decree No. 21, “Decision of the National Development and Reform Commission on Amending the Relevant Provisions of the Industrial Structure Adjustment Guidance Catalogue (2011 Edition)â€, and adjusted the “11. Machinery†The 15 categories of "wire and cable manufacturing projects" have made the industrial policy more clear, especially the suppression of excess production capacity. The new policy has been implemented since May 1. Recently, Wuxi City, Jiangsu Province conducted a sample survey of 100 key wire and cable source companies in China (Yixing) Cable City, one of the country’s four major wire and cable production bases (announced taxes exceeding RMB 1 million in 2012). The survey shows that after the introduction of the New Deal, the cable industry showed a good momentum of speeding up growth, increasing profits and taxes, accelerating R&D, and increasing integration.
It is reported that the wire and cable production base products accounted for 12% of the national market share, of which the power cable accounted for over 14% of the national market share. The 100 key tax source enterprises surveyed completed sales of 26.869 billion yuan in the first seven months of this year, an increase of 7.6% compared to the same period of last year, and achieved a profit tax of 1.675 billion yuan, an increase of 8.4% year-on-year (February introduced the policy and completed sales of 24.745 billion yuan in July. , an increase of 7.8% over the same period of last year, and achieved a tax of 1.512 billion yuan, a year-on-year increase of 9.6%). As of the end of July, 83 out of 100 enterprises were profitable, 17 enterprises were in loss, and loss-making enterprises decreased by 6 compared with June.
The survey found that due to the influence of the national industrial policy, enterprises increased investment in R&D and marketing of non-restricted products, especially for the national power grid renovation projects, marine and new energy strategic markets, and accelerated the market expansion of aluminum alloy cable products. Of the 100 key tax source companies surveyed, 46 had production orders for more than 6 months, 44 for 3 months, and 10 for orders less than 3 months. The number of orders increased from 81 in the same period of last year, unchanged or reduced by 19; the amount of orders increased from the 75 in the same period last year, unchanged or reduced by 25; order prices increased from the same period last year, 72, unchanged or dropped by 28 . In addition, there are 82 companies with good prospects for the industry (82%); 18 think that the market situation is grim and not optimistic (18%). In an investigation, the head of the financial department of China Chaochao Cable Co., Ltd. said: “This policy adjustment combines the development of wire and cable manufacturing industries and clearly limits the production capacity with serious excess conditions, and the implementation is more operational. The implementation of the New Deal will promote the industry. With the transformation and upgrading, the wave of mergers and acquisitions will rise. A new round of reshuffle will promote industrial intensification and enhance the overall competitiveness of the industry."
At the same time, large-scale companies are also accelerating mergers and acquisitions, mergers and acquisitions. A-share listed company Zhongchao Cable Co., Ltd. completed the acquisition of Pearl Cables, Remote Cables, and Xizhou Magneto Cables' large-scale cable companies through additional issuance of funds, and successfully completed the effective integration of R&D resources and production capacity. In this survey, 57 enterprises in 100 enterprises plan to develop a diversified product road, actively follow up on the national smart grid project and rural grid reconstruction project product requirements, take the initiative to participate in upgrading and transformation, and try their best to reduce the adverse effects of product homogenization. Take a differentiated competitive path. Among them, Jiangsu China Coal Cable Co., Ltd. has actively introduced strategic partners to build special production lines for warship cables and rail transit locomotives, etc., on the basis of continuing to expand the advanced production capacity of fire-retardant cables for coal mines, basically stopping the production of restricted wire and cable. .
According to the survey, the New Deal was released on February 16 until the end of July. The newly added R&D expenses of the 100 companies surveyed reached 1.82 billion yuan, an increase of 33.4% year-on-year. For example, the Far East Holding Group, the largest power cable manufacturer in the country, has conducted 21 new product research and development projects at the same time, and some of the new products have been put into trial operation in May. At present, the wire and cable base has 8 provincial-level engineering and technology research institutes; 5 national torch plan projects, 5 national key new products, and 70 high-tech products in Jiangsu Province.
In terms of taxation, the companies surveyed also have their own claims. At present, the wire and cable industry enjoys preferential tax policies such as "plus deductions" for corporate income tax and low-tax rates for high-tech companies. However, there are many restrictions, complicated approval procedures, and fewer companies enjoy preferential policies. Among the 100 companies surveyed, only 12 companies were identified as high-tech enterprises, and 22 enterprises considered that the tax burden was heavy. Many companies surveyed stated that they would recommend expanding the scope of tax deductions for R&D expenses of enterprises, introducing tax exemptions for incentives and subsidies for scientific and technological talents, and increasing policy support for energy-saving technology R&D, investment in technical equipment and other policies, corporate equity restructuring, and listings. In order to guide the cable industry to the development of high-end technologies.
It is reported that the wire and cable production base products accounted for 12% of the national market share, of which the power cable accounted for over 14% of the national market share. The 100 key tax source enterprises surveyed completed sales of 26.869 billion yuan in the first seven months of this year, an increase of 7.6% compared to the same period of last year, and achieved a profit tax of 1.675 billion yuan, an increase of 8.4% year-on-year (February introduced the policy and completed sales of 24.745 billion yuan in July. , an increase of 7.8% over the same period of last year, and achieved a tax of 1.512 billion yuan, a year-on-year increase of 9.6%). As of the end of July, 83 out of 100 enterprises were profitable, 17 enterprises were in loss, and loss-making enterprises decreased by 6 compared with June.
The survey found that due to the influence of the national industrial policy, enterprises increased investment in R&D and marketing of non-restricted products, especially for the national power grid renovation projects, marine and new energy strategic markets, and accelerated the market expansion of aluminum alloy cable products. Of the 100 key tax source companies surveyed, 46 had production orders for more than 6 months, 44 for 3 months, and 10 for orders less than 3 months. The number of orders increased from 81 in the same period of last year, unchanged or reduced by 19; the amount of orders increased from the 75 in the same period last year, unchanged or reduced by 25; order prices increased from the same period last year, 72, unchanged or dropped by 28 . In addition, there are 82 companies with good prospects for the industry (82%); 18 think that the market situation is grim and not optimistic (18%). In an investigation, the head of the financial department of China Chaochao Cable Co., Ltd. said: “This policy adjustment combines the development of wire and cable manufacturing industries and clearly limits the production capacity with serious excess conditions, and the implementation is more operational. The implementation of the New Deal will promote the industry. With the transformation and upgrading, the wave of mergers and acquisitions will rise. A new round of reshuffle will promote industrial intensification and enhance the overall competitiveness of the industry."
At the same time, large-scale companies are also accelerating mergers and acquisitions, mergers and acquisitions. A-share listed company Zhongchao Cable Co., Ltd. completed the acquisition of Pearl Cables, Remote Cables, and Xizhou Magneto Cables' large-scale cable companies through additional issuance of funds, and successfully completed the effective integration of R&D resources and production capacity. In this survey, 57 enterprises in 100 enterprises plan to develop a diversified product road, actively follow up on the national smart grid project and rural grid reconstruction project product requirements, take the initiative to participate in upgrading and transformation, and try their best to reduce the adverse effects of product homogenization. Take a differentiated competitive path. Among them, Jiangsu China Coal Cable Co., Ltd. has actively introduced strategic partners to build special production lines for warship cables and rail transit locomotives, etc., on the basis of continuing to expand the advanced production capacity of fire-retardant cables for coal mines, basically stopping the production of restricted wire and cable. .
According to the survey, the New Deal was released on February 16 until the end of July. The newly added R&D expenses of the 100 companies surveyed reached 1.82 billion yuan, an increase of 33.4% year-on-year. For example, the Far East Holding Group, the largest power cable manufacturer in the country, has conducted 21 new product research and development projects at the same time, and some of the new products have been put into trial operation in May. At present, the wire and cable base has 8 provincial-level engineering and technology research institutes; 5 national torch plan projects, 5 national key new products, and 70 high-tech products in Jiangsu Province.
In terms of taxation, the companies surveyed also have their own claims. At present, the wire and cable industry enjoys preferential tax policies such as "plus deductions" for corporate income tax and low-tax rates for high-tech companies. However, there are many restrictions, complicated approval procedures, and fewer companies enjoy preferential policies. Among the 100 companies surveyed, only 12 companies were identified as high-tech enterprises, and 22 enterprises considered that the tax burden was heavy. Many companies surveyed stated that they would recommend expanding the scope of tax deductions for R&D expenses of enterprises, introducing tax exemptions for incentives and subsidies for scientific and technological talents, and increasing policy support for energy-saving technology R&D, investment in technical equipment and other policies, corporate equity restructuring, and listings. In order to guide the cable industry to the development of high-end technologies.
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