The hottest Shanghai Electric plans to acquire Ger

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Shanghai Electric plans to acquire German enterprises for 170million euros to enter the aircraft manufacturing equipment industry according to CNR Beijing, August 17, according to the voice of economics "transaction live", Shanghai Electric plans to acquire German enterprises for 170million euros to enter the aircraft manufacturing equipment industry. Shanghai Electric (601727, SH) announced that it plans to acquire all the equity of a German company with a purchase amount of 170million euros. In this way, it can indirectly realize the wholly-owned holding of BAW, the aircraft manufacturing equipment subsidiary of this German company, but the performance of Shanghai Electric today has not been affected by the news and has continued to rise. Now it is down 1.04%, and the latest price is 8.56 yuan. According to the daily economy, Shanghai Electric is one of the largest comprehensive equipment manufacturing groups in China. Its main businesses include the manufacturing and sales of nuclear power, thermal power, wind power, elevators, etc. Although the annual profit in 2015 was 2.13 billion yuan, it was still much lower than that in 2014. After the acquisition, Shanghai Electric will enter the aircraft manufacturing equipment industry

the company controlled by Shanghai electric curve is called BAW company. This is a world leading supplier of aircraft manufacturing equipment and solutions. Its main product business covers the assembly chain of aircraft components and related components. Its main customers include Airbus, Boeing and other large aircraft manufacturers. According to the analysis of industry experts, the relevant domestic industries are still in the initial stage, and have developed in recent years driven by the domestic "large aircraft" project, but most of the core technologies are still abroad. As national interests are involved, the acquisition of core technologies is likely to face obstacles. Why does Shanghai Electric (601727, SH) want to enter the aircraft manufacturing equipment industry? What obstacles will the acquisition of the company face? Fang Quanan, a senior investment consultant of Western Securities R & D center, made an analysis and interpretation on this

voice of the economy: last year, Shanghai Electric had a revenue of 78.01 billion yuan, an increase of 1.4% over 2014, and a net profit of 2.13 billion yuan, a decrease of 16.67% over 2014. What businesses have hindered the development of the company's performance

Fang Quanan: there are four business segments in the development of ultra free cutting stainless steel materials for Shanghai electric ball point pen heads, mainly including efficient and clean energy equipment, new energy equipment, industrial equipment and modern service industry. From the operating performance of the company last year, in addition to the new energy equipment operating revenue growth of 23.7%, the other three sectors have experienced a certain degree of decline. Last year, the sales of wind power products increased significantly and the gross profit margin increased by 3.7% over the same period, which improved the company's operating revenue and profits in the new energy equipment sector. But on the whole, the company's overall net profit still fell by a large margin. One of the main reasons is that the company's modern service industry has a great impact on the decline of net profit in 2015. Overall, from the first quarter of this year, the company's net profit continued to show a certain downward trend

voice of the economy: for this overseas acquisition, many analyses and comments believe that it will face uncertain factors and risks. What are they

Fang Quanan: Shanghai Electric mainly purchases the aviation industry. From the international phenomenon of this acquisition project, among the transnational acquisition projects in the aircraft manufacturing field, because they involve the core interests of the whole country, whether the relevant national departments can approve this acquisition of Shanghai Electric is still a great risk of uncertainty

voice of the economy: Despite the news of such an acquisition, Shanghai Electric did not open high today, but a low sideways shock after opening low. At present, the latest price is 8.57 yuan, down 0.92%. Is this trend also directly related to the uncertainty of future acquisitions

Fang quanhan Guoan: on the one hand, there is some uncertainty about overseas acquisition projects. On the other hand, from the trend of the secondary market, the current dynamic P/E ratio of Shanghai Electric is more than 50 times. Last year, the net income per share of Shanghai Electric was 0.7 yuan. From the first quarter report of this year, the net income per share further fell by less than 4 cents. Judging from the decline in the overall net profit, it has reached 27%. The main business is winning, but FS said that in this area, the full year positive revenue was 1.6% last year, and the first quarter of this year fell by 6.46%. Therefore, from the main revenue and net profit data, the current dynamic valuation of Shanghai Electric is still slightly high, so in the short term, the upward momentum is still obviously insufficient

(original title: Shanghai Electric plans to acquire German enterprises for 170million euros to enter aircraft manufacturing, which is widely used in automotive, machinery manufacturing, precision instruments, ordnance and other industries; the 150000 ton hexanoic acid project uses refined benzene produced by upstream enterprises and hydrogen equipment industry in the recovery of methanol exhaust gas)

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