The tide of mergers and acquisitions of listed companies, which began in the second half of 2013, was pushed to a climax in 2014. As of the end of the third quarter of this year, the amount of M&A transactions in the A-share market has exceeded 1 trillion yuan, which is higher than the full-year transaction volume in 2013. However, with the surge in the number of mergers and acquisitions of listed companies, the reorganization of the stocks until the failure has increased significantly. It is reported that in 2014, for the first time, 1161 mergers and acquisitions were announced, and 21 cases were announced. The mystery behind the merger and acquisition began to surface. Need to prepare for risk The industry pointed out that through mergers and acquisitions, enterprises have achieved expansion or upstream and downstream integration, diversified development, or entered new business areas, forming mergers and acquisitions and business synergies, and achieving further exploration of financial value and business value. Because of this, the mergers and acquisitions of listed companies have been performed brilliantly. But unfortunately, most of the mergers and acquisitions can not be operated normally. The seemingly cautious mergers and acquisitions all make people feel weak. The companies that have been acquired have failed, some have been abandoned, and some have been flat. And some of the acquisitions themselves seem to create a little news bubble just to stimulate stock prices. The data shows that for projects that are merged, merged, or both, the probability of a final failure is between 4,080. This means that most of the mergers will be a failed project compared to the original strategic goals. We saw more than half of the M&A cases failing. This includes the value of the integration brought by business integration. Li Zhaohui, deputy general manager of Tencent Investment M&A, said that M&A is highly market-oriented behavior, so everyone participates. It is very likely that a good preparation for risk is a result of failure. This is already proved by the market. It is impossible to buy insurance in one way or another. Especially in the past year, the domestic M&A boom has been heating up, and corporate mergers and acquisitions have become a trend, and risks are gathering. Zhou Deping, chairman of Shenzhen Zhonghe Fund Management Co., Ltd. believes that when the registration system is implemented, the number of A-share listed companies will also have new changes. In the case of large volume, the number of mergers and acquisitions will increase again. Of course, mergers and acquisitions. Also accompanied by risks, such as the existence of high-value acquisition risk mergers and acquisitions, most of the mergers and acquisitions of the company this year, the premium rate of more than 100; followed by the risk of subject speculation, such as some high premium, seemingly mergers and acquisitions of high-growth companies, may There is a risk that the company will fail after the stock price is booming. The third is the risk of cross-border acquisition. Some enterprises choose to adopt M&A transformation when they are difficult to obtain profit points in the original industry chain, but they fail to achieve profit due to various reasons. The price is not the main reason for the failure of mergers and acquisitions. In addition to the common factors such as blocked policies, poor approval, and poor financial prospects of corporate financial status, there are differences in the valuation of restructured assets, which is often the main reason for the termination of mergers and acquisitions. . According to industry insiders, the biggest obstacle in the process of mergers and acquisitions is the bargaining between the two sides. Generally speaking, the enterprise's asset evaluation is affected by various factors, such as the economic environment, industry cycle, stock market trend, etc., the entrepreneur's mentality will undergo various changes, and the listed company as a merger and acquisition party will also carefully consider itself. A project talks for at least six months to a year. The long cycle also tests the psychological game between the two parties. In the process of restructuring for several months, it is very easy to change. Feng Jun Investment Chairman Chang Jun said that the termination of the merger was 7080 due to the evaluation. Caused by inconsistent values. Hong Tao, general manager of Hongyuan Securities M&A Department also pointed out that the assessment of differences is indeed the main reason for the termination of mergers and acquisitions, mergers and acquisitions of listed companies, especially the acquisition of non-listed company equity, more than 60 is the price issue. It is also sufficient to see a little from the announcement of the listing. On May 13, 2014, Yuanfang Optoelectronics announced that its merger with Shenzhen Advanced Optoelectronics had been blamed for the inability to reach an agreement on specific terms of the transaction. On January 9th, Yuanfang Optoelectronics announced the purchase of this asset with a total price of about 65 million yuan. According to the company, Advanced Optoelectronics is engaged in research and development of light-emitting diode (LED) solid crystal machines and other equipment. The completion of the acquisition is conducive to the improvement of the company's overall strength. In addition, in Hong Tao's view, information asymmetry between the two parties is also one of the main reasons leading to the termination of mergers and acquisitions. For example, in the process of mergers and acquisitions, the statement of the target is very different from the actual one, which often leads to the failure of mergers and acquisitions. Moreover, many mergers and acquisitions are introduced through intermediaries, because of the need for confidentiality, verbal communication or the existence of benchmarking, the listed company can not continue after the adjustment. For such situations, Chang Jun believes that in the process of contact, the two sides must first consider whether the business philosophy agrees. The problems and difficulties of the merged enterprises should be fully exposed, the information is symmetrical, and there can be no reservations. Under this premise, the technical highlights and market advantages are fully presented and a good valuation is obtained. If the problem is not fully revealed, it will be exposed sooner or later. You can't deliberately exaggerate your advantage for the immediate benefit and cover up the problem.
Gantry Double Plasma Cutting Machine
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Type
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BLDS-3060
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BLDS-4080
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BLDS-5080
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BLDS-60100
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BLDS-80100
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Input power
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AC380V/50Hz; AC220V/50Hz
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Track gauge(mm)
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3000
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4035
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5000
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6000
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8000
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Effective
cutting width(mm)
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2300
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3300
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4300
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5300
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7300
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Machine
width(mm)
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3500
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4300
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5500
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6500
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8500
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Track length(mm)
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6000
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8000
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8000
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10000
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10000
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Number of cutting torch(set)
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2
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2
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2
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2
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2
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Lift(mm)
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200
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Cutting thickness(mm)
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1~30(According to the power supply size)
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Cutting speed (mm/min)
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450~5000
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Idle speed(mm/min)
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0~8000
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Drive mode
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Bilateral drive
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System
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Shanghai Jiaoda or Beijing Starfire
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Operating accurancy
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±0.5mm
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Shandong Buluoer Intelligent Technology Co., Ltd. , https://www.buluoermachine.com