Ma ka mākeke kapikala, manaʻolana nā hui i helu ʻia e hana i ka hopena o 1+1>2 ma ka loaʻa ʻana o nā waiwai kiʻekiʻe.

ʻO ka mea i hala koke aku nei, ua hana nui ke alakaʻi o ka ʻoihana hana pahu alumini org e kūʻai aku i ka mana o ka pahu COFCO ma kahi o 5.5 biliona yuan. Ma ka hihia o China Baowu, ka hui makua o Baosteel Packaging, he mea hoʻokūkū, ua hoʻokūkū nā ʻaoʻao ʻelua i kahi hakakā. ʻO wai ka mea hiki ke hana maikaʻi? ʻAʻole ʻike ʻia nā hopena.

I ka 2023 hōʻike hopena makahiki, pane aku ʻo org i nā mea hoʻopukapuka e pili ana i nā pono o ke kumukūʻai, me ka ʻōlelo ʻana, "Ua loaʻa i ka ʻoihana ka ʻike waiwai ma ke kahua o ka hui pū ʻana me ka hoʻohui ʻana a me ka hoʻohui ʻana, mai ka lilo ʻana i mea kuleana o CoFCO Packaging, ua mālama nā ʻaoʻao ʻelua. maikaʻi ka hui ʻoihana."

He mea pono e hoʻomaopopo ma hope o ke kaua lawe ʻana o org, inā he kākoʻo kālā a inā he kiʻekiʻe ka hiki ke hoʻihoʻi i ka ʻaiʻē e hopohopo pū ʻia e ka honua o waho.

I ka pau ʻana o ke kālepa ʻana ma Iune 11, ʻo ke kumukūʻai o Aoruijin he 4.5 yuan, a ʻo ka huina o ka mākeke he 11.58 biliona yuan.

No ke aha ke kaua lawe ʻana?

ʻO kā mākou ʻoihana koʻikoʻi ka hāʻawi ʻana i nā hoʻonā piha piha no nā ʻano mea kūʻai FMCG āpau. Ma ka hopena o 2023, ua helu ʻia nā huahana a me nā lawelawe metala no 86.97% o ka loaʻa kālā o ka hui.

No ka hoʻohui ʻana i ka ʻoihana nui, hoʻonui i nā mea kūʻai aku hoʻolālā, a me nā mea ʻē aʻe, ma Iune 7 i kēia makahiki, ua hoʻopuka ʻo Ao Ruijin i kahi hoʻolālā kūʻai waiwai nui, manaʻo ka hui e hāʻawi i nā ʻāpana no ke kumu kūʻai o 7.21 Hong Kong kālā, i nā mea kuleana a pau o CoFCO hoʻopaʻa hāʻawi manawaleʻa kūlana piha.

Hoʻopili ʻia ke kālepa ma 6.06 biliona kālā Hong Kong (ma kahi o 5.57 biliona yuan ma ke kumukūʻai hou loa). Inā hoʻopau maikaʻi ʻia ke kālepa, e lawe ʻo Oregin i ka mana o CofCO packaging.

Ua hoʻomaopopo ʻia ʻo ke kālepa ma luna nei he makana makana mākeke, aia nā mea hoʻokūkū hoʻokūkū. Ma Dekemaba 6, 2023, China Baowu, ka hui makua o Baosteel Packaging, ua hoʻolauna i kahi hāʻawi piha e kūʻai i CoFCO Packaging me ka hoʻopukapuka hou o ka United Nations. I kēia manawa, ʻelua ʻīlio hae e alualu ana i kahi ʻāpana ʻiʻo.
No ke aha i ʻimi nui ʻia ai ka ʻeke COFCO? ʻO ke kumu kumu, ʻo ka mea e lanakila ana i ka mana e loaʻa iā ia ka ʻāpana mākeke ma mua o kēlā ʻaoʻao.

Wahi a ka ʻikepili i hōʻike ʻia e ka Prospective Industry Research Institute, ma ka mākeke pahu pahu ʻelua, ʻo ka māhele mākeke o ORG Baosteel packaging, CoFCO packaging a me Sheng Xing Holding he 20%, 18%, 17% a me 12%. Hōʻike kekahi pūʻulu o ka ʻikepili i ka nui o ka loaʻa kālā o org, CoFCO Packaging a me Baosteel packaging i 2023 he 13.84 biliona yuan, 10.27 biliona yuan a me 7.76 biliona yuan.

China Wiliau Hōkū Securities nā kānaka kālailai i olelo mai i loko o ka noiʻi hoike ina org i hoʻokō pono i ka loaʻa, i ka market mahele o elua kini i manaoia e kokoke i 40%, a me ka market mahele o ekolu kini ua manaoia e e hoʻomaikaʻi nui, a me ka unahiʻole. e hoʻoikaika hou ʻia ka hopena o ka ʻoihana.

I kēia manawa, ua hoʻopuehu ʻia ka ratio hoʻopaʻa ʻana o ka COFCO packaging shareholders, a ʻaʻohe mea hoʻoponopono maoli. I mea e mālama ai i nā pono o ka māhele mākeke a pale aku i ka loaʻa ʻana e nā mea hoʻokūkū, ua koho ʻo org e hakakā i ke poʻo a koi ʻo ia i ke noi ʻana no ka mālama ʻana i ka ʻeke CoFCO.

A laila, mai hoʻokuʻu i ka "kaua hoʻoili" i hoʻoikaika ʻia.

Nā helu pilikia ma hope o ka loaʻa

Ma ka hoʻolaha, ua ʻōlelo ʻo org i "ka pilikia o ka hoʻopau ʻana ma muli o ka loaʻa ʻole o ka ʻae ʻia", "pilikia hoʻokūkū", "ka pilikia o ka piʻi ʻana o ka nui o ka ʻaiʻē o nā ʻoihana i helu ʻia" a pēlā aku.

I waena o lākou, ʻoi aku ka hopohopo o ka honua o waho e pili ana i nā "waiwai kālā" a me ka "solvency" o Org.

I ka pau ʻana o ka hapaha mua o kēia makahiki, ʻo 1.427 biliona yuan nā kālā kālā a Org. ʻO ka pāpale kālepa e pili ana i ka 5.57 billion yuan, hiki keʻikeʻiaʻaʻole he liʻiliʻi ka nui o ke kālā e pono aiʻo Orj.

Ua koho ʻo Org i kahi loaʻa kālā a manaʻo e uku i ke kumukūʻai kūʻai me kāna kālā ponoʻī a me kāna kālā i hoʻonui ʻia (me ka noi ʻana i nā hōʻaiʻē mai nā panakō).

Mai ka hiʻohiʻona o ka lākiō waiwai-kuai, mai 2021 a i 2023, ʻo org waiwai-kuaiana ratio he 53.47%, 50.47 a me 45.66%, kēlā me kēia, ka mea i hoʻemi ʻia e 7.81 pakeneka i nā makahiki ʻekolu i hala. I ka hapaha mua o 2024, he 44.48% ka nui o ka waiwai waiwai, i lalo he 4.34 pakeneka o kēlā me kēia makahiki.
Mai ka hiʻohiʻona o nā hōʻailona hōʻaiʻē no ka wā pōkole, mai 2021 a 2023, ʻo ka lākiō o Oregold i kēia manawa he 1.069, 1.160 a me 1.109, a ʻo ka lākiō wikiwiki he 0.740, 0.839 a me 0.835, e hōʻike ana i ka hāʻule o ka piʻi mua ʻana a laila. . I ka hapaha mua o 2024, ʻo ka ratio o kēia manawa a me ka ratio wikiwiki o org he 1.137 a me 0.896, a ʻo nā waiwai i ka hapaha mua o 2023 he 1.227 a me 0.876, kēlā me kēia.

Hōʻike ka ʻike lehulehu e manaʻo pinepine ʻia ka ratio o kēia manawa he 2:1, a ʻo ka ratio wikiwiki e manaʻo pinepine ʻia ʻo 1:1.

Eia kekahi, ma ka hopena o ka hapaha mua o kēia makahiki, ʻo ka huina o ka hōʻaiʻē wā pōkole + nā aie o kēia manawa i loko o hoʻokahi makahiki o org ma kahi o 3.087 biliona yuan, ma kahi o 1.66 biliona yuan ke kiʻekiʻe ma mua o nā kālā kālā.

Ma mua, ua aʻo ʻo org i ka pilikia e "ʻo ke ala kālā pilikino o ka hui e hoʻonui i ke kālā kālepa e hoʻonui ai i nā kumukūʻai kālā, a e hoʻonui ʻia ka nui o ka ʻaiʻē a me ka ratio o ka waiwai." Inā ʻaʻole hiki i ke kālepa ke hoʻokō i nā synergies a hoʻomaikaʻi i ke ʻano o ke kapikala i ka wā kokoke, aia ka pilikia e hoʻopilikia ʻia ka solvency wā pōkole o ka Hui a me ka hiki ke loaʻa kālā hōʻaiʻē.

E hoʻomau mākou e nānā inā hiki ke hoʻokō pono ʻia kēia kālepa o org.

ʻO Erjin PackagingKe hoʻomau nei ʻo ia i ka hui pū ʻana me ʻekolu mau mea hana metala nui ma Kina no 15 mau makahiki, e hāʻawi ana i nā mea kūʻai aku a puni ka honua me ka hoʻolālā ʻana i ka hoʻolālā a me nā lawelawe hana, nā kaʻina hana paʻi like ʻole, a me ke kākoʻo ʻana i nā lawelawe laʻana.