Mor will receive more than 200 billion financing support south, north car get yuan arrears
- Categories:Trade News
- Time of issue:2022-06-15
(Summary description)Ministry of Railways recently received more than 200 billion yuan of financial support, to ensure that its funds to pay and the advancement of key projects, as well as supporting projects optimize the
Mor will receive more than 200 billion financing support south, north car get yuan arrears
(Summary description)Ministry of Railways recently received more than 200 billion yuan of financial support, to ensure that its funds to pay and the advancement of key projects, as well as supporting projects optimize the
- Categories:Trade News
- Time of issue:2022-06-15 16:23
- Views:
Ministry of Railways recently received more than 200 billion yuan of financial support, to ensure that its funds to pay and the advancement of key projects, as well as supporting projects optimize the sound. Suffering from financial distress of the railway capital of the tension in the support of the Government will be greatly eased.
Tight rail financing
After the the Wenzhou motor car accident, in July of this year, China's railway building adjustments, many lines suffered defers to stop the construction. Experts believe that the early Chinese railway financing once the tension, but the current financial support for railway construction market is still relatively open, relaxed, with the relevant policies have been put forward, the financial sector support will continue in China's railway construction.
"Railway construction as the country's major investment projects, not only to meet the public demand for modern transportation system, also involves a large number of migrant workers find jobs, supplier development and other issues. A large area, long postponed, stop the construction is not a normal phenomenon, the urgent need to be improved. "Luoren Jian pointed out that the ICT researcher.
Policy to support the Ministry of Railways bonds
There are indications that since October, the railway financing hunger has eased. October 12, the Ministry of Railways this year, the first phase of 20 billion yuan railway construction bond issue a formal public. Ministry of Railways bonds of confidence and recognition has issued a "railway construction bond interest is corporate income tax halved", "clear the railway construction bonds for the government to support the bonds' policy role, the market increased substantially, October 26 the Ministry of Railways section two 20 billion railway construction bonds issued subscription ratio is nearly 17 times.
Industry optimistic about the prospects for railway construction
The future of China's railway development with confidence. As far as I know, approved by the State Council, China's railway network and long-term planning and no change since 2011, despite the rail capacity to pay is weaker than in previous years, but mainly by the global macroeconomic environment impact. "the chairman of China South Locomotive Rolling Stock.
Many researchers believe that the railway construction in China since 2008 has gone through the process from "normal" to "climax" and "valleys", the current policy support is allowed to return to "normal". In the long run, strengthen the railway market-oriented reforms, where is the hope of the industry. Comprehensive Xinhua News Agency, Xinhua reported
■ linkage effects
CSR, CNR 10.5 billion debt to get the Ministry of Railways
Just been to the Ministry of Railways of the huge amounts of money start hysteresis money to pay; the two largest customers are the Ministry of Railways
Just won a huge amount of money the Ministry of Railways has launched a the hysteresis payment payment, China CSR, China CNR both receive a "Package" from the Ministry of Railways of the first batch of 10.5 billion repayment.
Ministry of Railways "timely"
Yesterday, CSR announced that the Ministry of Railways to nearly 60 million receivable from the sale of goods shall, will have a positive impact on improving the company's financial position, expected in November-December this year is expected to recover the Ministry of Railways payables.
CSR said the person, business settlement of the rail equipment manufacturing enterprises is the inherent characteristics of the fourth quarter, pay a higher concentration, which has been formed for many years practice. Coupled with the recent high-rise is also actively coordinating banks and loans and financing of the railway. In this context, the Ministry of Railways of China South Locomotive amount due is expected in November and December, it will speed up reimbursement. In addition, there is news that the Ministry of Railways also pay to the CNR 4.5 billion of accounts payable. These two sums totaling 10.5 billion huge repayment would be timely for the funding chain tight CSR, CNR.
China South Locomotive and 3-quarter results, the company's accounts receivable compared with the beginning growth of 23.914 billion yuan, an increase of 213.91%, much higher than the operating income over the same period the growth rate of 35.57%. Significant increase in accounts receivable, China South Locomotive and three quarterly, mainly due to natural growth in the current accounts receivable with the increase in sales revenue, as well as major customers delay payment due.
CNR announced three quarterly, similar to its competitors. The first three quarters of net profit of 2.193 billion yuan, an increase of nearly 800 million yuan over the same period last year. Accounts receivable than the beginning of the year of 13.7 billion yuan, an increase of 126.2 percent, the company's operating activities net cash flow to net outflow of 10.176 billion yuan, a net outflow compared to same period last year to 8.45 billion yuan.
The two companies share price rose both
It is understood that China CSR, China CNR main customers are the Ministry of Railways and Railway Bureau under the "major customers delay payment, mainly refers to the two company's largest customer, the Ministry of Railways, the rail industry had told reporters said that in moving cars, buses, railway car, the Ministry of Railways is the only buyer, and decided to position in the speed of repayment is also occupied.
Warburg Securities research report pointed out that due to the impact of the Wenzhou EMU accident follow-up, leading to the crunch of the railway construction, coupled with the national monetary policy tightening, the railway capital of listed companies chain tight, and a substantial reduction in operating cash. Railway listed companies to bring tremendous liquidity pressure.
China South Locomotive yesterday ushered in another good news, the company refinancing program approved by the SASAC.
Program in accordance with the SASAC, the CSR the non-public offering price of 4.46 yuan, the object of the private placement of not more than 10 funds raised $ 90 billion. China South Locomotive will be held on November 7th general meeting of shareholders on consideration of the above refinancing program, previously non-public offering of the program plan to raise 11 billion yuan of funds.
Yesterday, China CSR, China CNR Corporation shares both rose, China South Locomotive and close at 5.56 yuan, up 1.46 percent. China North Vehicle price is 5.25 yuan, up 0.57 percent.
■ ask
Two hundred billion financing how to achieve?
Ministry of Railways, the message more than 200 billion yuan financing would have been conclusive, however, doubt this huge source of financing and whether the form in which fat is still not been any official statement. Some analysts said that this financing may be issued through bank loans and financial allocation form.
The previous data show that the financing of the Ministry of Railways after the downturn in the motor car accident after Yong isotherm, has won the "government support".
August 8, the Ministry of Railways issued the first bond in Ningbo isotherm motor vehicle accident, 90 days of ultra-short-term financing bills, tender results, the ultrashort financial issue rate of 5.55%, compared with the Ministry of Railways issued in February with The duration of ultrashort financial interest rates by 163 basis points higher, which means that the Ministry of Railways finance the rising cost of overwhelmed by ultrashort financial issue 20 billion yuan, more than 80 million yuan than in February to pay more interest. And because the fear of investors do not buy it, 20 billion bond issue was originally scheduled for September 26, postponed twice.
Under the dual pressures of safety inspections and financing tight, China's railway investment is rapidly declining. Quite a few lines to postpone construction.
This situation changed on October 10. The same day, the Ministry of Finance, State Administration of Taxation issued a notice, the interest income of the railway construction bonds, corporate income tax, even behind the railway bonds. October 12th, the National Development and Reform Commission issued a document, the Chinese railway construction bonds the government backed securities, which is the Ministry of Railways bonds first received government support.
With the national credit to do the "endorsement" and immediately see the results. 20 billion railway construction bonds issued by the Ministry of Railways, October 12, the subscription is active, and preferential tax policies to help reduce financing costs by more than one billion. The second phase of railway construction bonds issued on October 26, in which the variety of successful seven-year interest rate of 4.93%, the subscription ratio up to 16.8 times.
According to the plan during the year there will be three railway debt will commence a tender, the amount of 20 billion yuan issue.
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