CiXing China group, the CW company in Detroit north American manufacturing center 25 starts, suggests another high-end manufacturing enterprises in China into the U.S. auto industry core region, the manufacturing center will provide the popular models ford F150 pickup steering system used in bearing.CiXing bearing manufacturing enterprise group in China is located in the Detroit metropolitan area northwest noth in new workshop, fully automated production equipment has finished installation and debugging, the full power, for the American carmakers such as ford, gm steering system used in the bearings.Bearing enterprises in China into the U.S. auto industry core at the start of the day ceremony, CiXing group chairman Hu Xian root, said the establishment of north American manufacturing center marks the group & other;A solid step to the transformation and upgrading & throughout;And group & other;Market globalization, talent internationalization, high-end products & throughout;The development idea of the perfect interpretation.The famous bearing company founded in 1984 in ningbo China, from the small workshops to break into the U.S. auto industry core region Detroit spent 30 years.Hu Xian root to the xinhua news agency said, to catch up with the international advanced level, Chinese enterprises will have to be integrated into the international trend.Start on the day of the manufacturing plants belong to the first phase.Hu Lirong CiXing group research and development of American manufacturing co., LTD. General manager, said the next step will be to invest $20 million in construction phase ii workshop.He said, at present the company in the team of more than 50 people, only two Chinese, the other workers, sales personnel, research and development personnel, and management team are all americans.In 2006 to join the company’s vice President of the CW jay & middot;Crick told xinhua reporter, said that in the new factory will be assembled in the production of products to the United States on a series of one of the most famous models, including the top sales ford F150 pickup trucks in the United States, as well as the mustang, camaro and other classic American cars.Chinese consul general in Chicago, hong lei said at the launching ceremony, this is an important greenfield investment of Chinese enterprises in Michigan, is also the Chinese enterprise and Michigan’s another example of the development of investment cooperation relations, will provide the customer with high quality products, create more jobs for local, bring more taxes to the local government.He said, this fully shows that china-us economic and trade cooperation is a win-win cooperation.Increased rapidly in recent years, Chinese companies to invest in beauty.U.s.-china relations national committee and association of rhodium group, according to a report by the end of 2016, the Chinese enterprise direct investment stock roughly $110 billion in the United States, the cumulative create 141000 direct jobs for America.(the original title: Chinese bearing enterprises into the U.S. auto industry core) (source: xinhua news agency)
According to the general office of the ministry of industry and information technology on notice for the conduct of a service-oriented manufacturing model selection (ministry hall industry letter  no. 838), recommended by the organizations, the expert group review, now will be proposed to be included in the 2017 list of service-oriented manufacturing enterprises (projects), platform demonstration to the public, please supervision from all walks of life.Public time is on August 22, 2017 – August 28, 2017.Service-oriented manufacturing 2017 demonstration enterprises (projects), platform list in 2017 (the original title: a service-oriented manufacturing demonstration enterprises (projects), platform list) (source: the ministry micro)
Recently, in the midst of a bond default vortex dalian machine tool group co., LTD. (hereinafter referred to as “dalian machine tool”) to disclose the reference.Dalian machine tool and its subsidiaries huge bank loans overdue large area, many financial institutions “ray”.On July 31,
, dalian machine tool, according to the announcement by the time of the announcement, the company and its subsidiaries caliber cumulative debit interest amount is 429 million yuan, the bank acceptance bill advances amount is 2.031 billion yuan, overdue loan amount is 3.607 billion yuan, total amount is 6.067 billion yuan, accounting for 117.28% of the late 2015 audited net assets.Dalian machine tool, “admits the above debit interest and advances have bad impact on company operation and solvency.Debit interest debit interest in
, dalian machine tool is
yuan RMB, a subsidiary of dalian (nc) machine tool co., LTD. (hereinafter referred to as “nc shares”) debit interest, amounting to 148 million yuan, a subsidiary of dalian HuaGen machinery co., LTD. (hereinafter referred to as the “mechanical” HuaGen) debit interest, amounting to 116 million yuan up to 20, the involved financial institutions include Banks, changan, antu agriculture in jiangsu commercial bank, societe generale, ping an trust, trust nakae trust, the bank of China, construction bank, agricultural bank, huaxia bank, bohai bank, ping an bank, guangdong development bank, China merchants bank, citic bank, hebei, China aviation leasing, cinda leases, societe generale, agriculture bank, Great Wall leasing.Advances in
, bank acceptance advances CNC co produced 1.572 billion yuan, the bank acceptance advances HuaGen machinery to produce 459 million yuan, involving bank: China merchants bank, bohai bank, bank of China, ping an bank, Harbin bank, bank of shengjing.
loans overdue, dalian machine tool and its subsidiaries total overdue amount of 3.607 billion yuan.Among them, the bank of China’s largest, a total of 15 t, the amount is 1.395 billion yuan.Other financial institutions and industrial trust 1 billion yuan, China construction bank 700 million yuan.Plight debt
currently, dalian machine tool, the drag on the financial institutions, the bank of China, involving a value of RMB 2.161 billion.Debit interest is 44.58 million yuan, including: CNC shares HuaGen mechanical debit interest is 65.1 million yuan, acceptance bill advances 300 million yuan (nc), 356 million yuan (HuaGen machinery), overdue loans of 1.395 billion yuan.It is worth mentioning that the bank of China is not only a creditors, dalian machine tool recently have been exposed as JiLinJi en nickel industry co., LTD. (stock abbreviation: * ST gene), the second largest creditor.According to the debt of * ST announced jean a schedule of overdue borrowing and debit interest related data show that China citic bank loan of RMB 2.285 billion yuan, the bank of China loan of RMB 1.2 billion yuan.In addition,
on July 31, dalian machine tool, according to the announcement issued by a company period of ticket “15 machine MTN001” by the authorization day end, failed to fully pay interest, constitute a substantial breach.In fact, it was the ninth straight to default on its debt.Last November 21, dalian machine tool “15 machine CP003” expire failed to honour, for the first time since the default, we have accumulated up to 3 times failed to servicing, 4 times not repays the principal and interest, two trigger an cross default, involves the lead underwriters have industrial bank, Shanghai pudong development bank, China development bank.
reporters on the matter at dalian machine tool, the phone went unanswered.Amount to more than
institutions “ray” bank of China, industrial trust “in”
7 31, dalian machine tool itself and subsidiary of disclosure, according to the recent credit situation extremely nervous, the money chain produced bank debit interest and bank acceptance draft advances, many financial institutions “ray”.
, according to the announcement by the announcement period of dalian machine tool and its subsidiaries caliber cumulative debit interest amount is 429 million yuan, the bank acceptance bill advances amount is 2.031 billion yuan, the overdue loan amount is 3.607 billion yuan, total amount is 6.067 billion yuan, accounting for 117.28% of the late 2015 audited net assets.”Above debit interest and advances have negative influence on our company management and solvency, my company is actively communicate with the agencies, negotiate and to properly handle the debit interest and advances problems.”Debit interest
, dalian machine tool is
yuan RMB, the debit interest CNC co is 148 million yuan RMB, the debit interest HuaGen machinery is 116 million yuan RMB.
in the debit interest of dalian machine tool, credit institutions is jiangsu bank, bank of changan, antu agri-businesses trust bank, societe generale, ping an trust, nakae trust, the biggest industrial trust of 66.15 million yuan.
CNC shares debit interest, credit is the bank of China, construction bank, agricultural bank, huaxia bank, bohai bank, ping an bank, guangdong development bank, China merchants bank, citic bank, hebei leasing, catic rental and leasing, cinda amount ranging from millions to tens of millions, the biggest bank of China, 44.5794 million RMB.
in HuaGen mechanical debit interest, credit is the bank of China, construction bank, huaxia bank, bohai bank, industrial bank, ping an bank, bank of agribusiness, China aviation leasing and the Great Wall, the biggest bank of China, 65.0952 million RMB.Advances in
, bank acceptance advances CNC co produced 1.572 billion yuan, the bank acceptance advances HuaGen machinery to produce 459 million yuan, involving Banks and compensation: China merchants bank, 600 million, 184 million of bohai sea bank, bank of China, 184 million, 125 million, Harbin bank 065 million, ping an bank 392 million shengjing bank.
loans overdue, dalian machine tool and its subsidiaries total overdue amount of 3.607 billion yuan.Among them, the bank of China’s largest, a total of 15 t, the amount is 1.395 billion yuan.Other financial institutions and industrial trust 1 billion yuan, China construction bank 700 million yuan.
actually, “ray” dalian machine tool not only has the financial institutions such as Banks, and P2P network platform red ridge venture capital loan.On July 4, red hill toward venture since 2016 released by the project loan, according to the specific circumstances since 2016 red ridge vc two of non-performing loans, a pen is huishan dairy affiliates guarantee capital 50 million yuan, overdue interest 1.4375 million yuan;Another pen is dalian machine tool equity pledge capital 150 million yuan, 7.84 million yuan overdue interest.
bond default follow-up lead underwriters are vocal
8, dalian machine tool in Shanghai clearing house about “16 big SCP001 machine tool”, “16 big SCP002 machine tool”, “16 big SCP003 machine tool”, “16 big MTN001 machine tool”, “15 CP004 machine tool”, “15 PPN001 machine tool”, “14 PPN001 machine tool” and “15 machine MTN001” default the announcement of the progress of the follow-up related matters.The lead underwriters are industrial bank, Shanghai pudong development bank, China development bank.
announcement, points out that the first phase of the dalian machine tool 2016 short-term financing bonds (bonds, 16 big machine SCP001, total 500 million yuan, the bond period 270 days, interest-bearing bonds at an annual rate 7%) on December 12, 2016, not timely payment of principal and interest;Dalian machine tool in 2016 the first phase of the medium-term notes, bonds, 16 big machine MTN001, total 400 million yuan, interest-bearing bonds interest rate 7%, bonds over 3 years) on January 16, 2017, not timely payment of principal and interest;The road machine tools in 2015 the first phase of the medium-term notes (bonds, 15 machine MTN001, total 400 million yuan, interest-bearing bonds interest rate 7%, bonds over 3 years) in 2017 on July 31, not timely payment of principal and interest;These bonds have constitute a material breach.
dalian machine tool 2016 the second phase of the short-term financing bonds (bonds, 16 big machine SCP002, total 500 million yuan, interest-bearing bonds 6% annual interest rate, the bond period for 270 days), 2016, the third phase of short-term financing bonds (bonds, 16 big machine SCP003, total 500 million yuan, interest-bearing bonds interest rate 6%, the bond period for 270 days), respectively, the main road, a subsidiary of dalian machine tool machine tool marketing co., LTD has 4 599.0475 million yuan accounts receivable accounts receivable and 5 557.6531 million yuan as the pledged collateral assets.
because of the dalian machine tool debt default, “16 big machine SCP002” and “16 big machine SCP003” trigger cross default (protection), has been on February 13, 2017, respectively, and on February 7, 2017, constitute a material breach.More than
bonds lead underwriters are the five societe generale.
day, societe generale also released “industrial bank co., LTD. About dalian machine tool group co., LTD. In 2015 the first phase of the medium-term notes fail to pay the interest of announcement.Announcement, given the “15 machine MTN001” fail to pay the interest constitute a substantial breach, cause serious damage to the holder of the interest, societe generale as the main underwriter of the follow-up will launch the following holder protection mechanism.Societe generale will urge the large machine tool through more channels to raise payments of money, as soon as possible to complete 15 machine MTN001 “pay interest on money.Societe generale will actively listen to the holder of the relevant demands, in the mid to late August 2017 “MTN001 15 machine tool holders meeting, negotiating with large machine tool holder and your communication after the default relief measures, the holder of the rights and interests maintenance.
moreover, dalian machine tool 2015 in the fourth stage of short-term financing bonds (bonds referred to as “15 machine CP004, found the amount is 500 million yuan, a 7% coupon, issuing period 1 year) on December 29, 2016, failed to timely payment of principal and interest;Dalian machine tool 2015 first non-public directional debt financing instruments (bonds are issued in 15 machine PPN001, hereinafter referred to as amount is 500 million yuan, a 7.8% coupon, issuing deadline three years) on February 6, 2017, did not pay the interest on schedule;Dalian machine tool 2014 first non-public directional debt financing instruments (bonds are issued in referred to as “14 PPN001 machine tool, the value of 500 million yuan, a 8.6% coupon, release period of 3 years) in 2017, failed to timely payment of principal and interest on May 22.The above three periods of debt already constitute a material breach.
among them, 15 machine CP004 “lead underwriters for the Shanghai pudong development bank and China development bank,” 15 PPN001 machine tool “and” 14 machine PPN001 “lead underwriters for the Shanghai pudong development bank.That
dalian machine tool, according to previous holders meeting resolution by default disposal bill, we will continue to do a follow-up bill to carry out the work and related information disclosure work, communication with the default bond investors repayment plan implementation schedule, to protect the interests of bondholders.New “15 machine MTN001” default items with lead underwriters called periods bondholders meeting, listen to holder appeal, protecting the legal rights and interests of investors.
8, Shanghai pudong development bank announced, according to the above as the lead underwriter of the bond, the bank supervision issuer in accordance with the bill’s commitment to carry out the meeting content holders meeting reply, to protect investors’ legitimate rights and interests, and keep constant communication with holder.Dalian machine tool rating has fallen to
C in December
2016, dalian machine tool main body credit rating three ratings within two weeks.On December 2, joint credit announced the dalian machine tool main body changed from AA to AA – long-term credit rating;On December 9, joint credit decision to dalian machine tool main body changed from AA – to A long-term credit rating, and its credit rating watch list.On December 12, joint credit rating co., LTD., dalian machine tool main long-term credit rating from A to C.
joint credit that dalian machine tool heavy debt burden and unreasonable debt structure, monetary funds available is small, cash flow pressure, the normal operation of business relies heavily on external financing.At the end of September 2016, inventory and should collect payment 70% of the total current assets, account receivable aging longer;Short-term debt amounted to 11.9 billion yuan, the scale and the risk of several kinds of reimbursement.
actually dalian machine tool’s performance as early as in 2013 there has been a turning point, when the end of dalian machine tool operating income a 8.95% year-on-year decline, then three years respectively presents the decline of 1% to 3%;And at the end of the third quarter of 2016, dalian machine tool to the parent company shareholders net income more than 77.1682 million yuan only, fell nearly 20%.
and the accompanying, is dalian machine tool debt tight cash flow.The end of last year in the first three quarters of its financing activities cash flows and net increase in cash – – 624 million yuan and 848 million yuan respectively.
Moscow time on May 15, 10 o ‘clock in the morning, one of Europe’s top ten industrial exhibition of 2017 Russian international machine tool exhibition opening, from Russia, the United States, Germany, France, Britain and other 26 countries and regions of 1005 exhibitors, including nearly 100 Chinese exhibitors.
Russian international machine tool exhibition every year, compared with previous years, this year’s China show the difference between window: AD hoc China machine tool pavilion, the entire Expocentre in Moscow exhibition center set for China pavilion pavilion, 4 for Chinese enterprises to set up the booth.Including Wu Hanrui fiber laser technology co., LTD. Booth at 4 pavilion B4 booths.
sharp families at 2017 Russian machine tools exhibition
as China’s first specialized in high power fiber laser and core components research and development and large-scale production enterprises, at the scene of the sharp division booth, popular sentiment, a steady stream of advisory clients, once again proved that the sharp of the strength and depth of our clients.During the exhibition, the sharp of the staff through the negotiation, equipment exhibition, met a lot of new customers and friends, represented by sharp division of laser products made in China by overseas enterprises.
sharp division since its inception in 2007, always regards the development of overseas markets, entering the Russian market, brand and quality to win the trust and loyalty by local customers and enterprises, this exhibition made sharp can show more European customers from China’s manufacturing capability, as well as the Russian local customers with high quality service and negotiate face to face.As
& other;One Belt And One Road & throughout;National strategy to accelerate, laser companies bring to China with a rare historic opportunity, have more opportunities to realize the leap type development of their own.Wu Hanrui secco laser will also speed up & other;Go out & throughout;To provide customers around the world more & other;Pure & throughout;& other;Wisdom & throughout;The laser products.
2017 during the 10th anniversary of sharp division, sharp ten years brilliant not only to celebrate, to share more in the future smart!In the future, let us forge ahead hand in hand together to meet more brilliant bloom.
(the original title: sharp division at machine tools exhibition 2017 Russia) (source: Wu Hanrui division fiber laser technology co., LTD.),