On January 19, Sany Heavy Industry Co.Ltd(600031) announced that Liang Wengen resigned as chairman and special committee of the board of directors, elected Xiang Wenbo and Yu Hongfu as chairman and vice chairman of the company respectively, and appointed Yu Hongfu as president of the company.
As of the closing on January 20, Sany Heavy Industry Co.Ltd(600031) was reported at 24.25 yuan / share, down 0.41%, with a total market value of 205.945 billion yuan.
remains a director of the company
Sany Heavy Industry Co.Ltd(600031) said that in order to seize the opportunity of industry development and reform, reduce daily work, further improve the level of corporate governance and improve the development mechanism of professional managers, Liang Wengen hopes to devote more energy to the future strategic transformation of Sany. After his resignation, Liang Wengen will continue to serve as a director of the company. As the actual controller and director, Liang Wengen will still highly participate in and pay attention to the development of Sany Heavy Industry Co.Ltd(600031) and focus more attention on the company’s long-term strategy and development opportunities.
Liang Wengen, 66, is also the founder of level III heavy industry. According to the official website of Sany group, Liang Wengen is a representative of the 17th and 18th National Congress of the Communist Party of China, a representative of the 8th, 9th, 10th and 13th National People’s Congress, and a vice chairman and executive member of the 12th all China Federation of industry and commerce. It has won the honors of “national labor model”, “national excellent private entrepreneur”, “excellent builder of socialism with Chinese characteristics”, CCTV “person of the year of China’s economy”, Forbes “best boss of China’s listed companies”, Forbes “pioneer of China’s new manufacturing”, etc.
In September 2011, Hurun Research Institute released the top 50 “Hurun 100 rich list”. Liang Wengen became “China’s richest man in 2011” with a wealth of 70 billion yuan.
Xiang Wenbo, who took the baton from Liang Wengen, was born in 1962 with a master’s degree in foundry. He once served as deputy to the 11th National People’s Congress, director of China Machinery Industry Federation, vice president of China Construction Machinery Industry Association and vice president of Hunan Federation of industry and commerce. From 2010 to 2011, he was rated as the best CEO in China by Forbes in 2010 and the best CEO of A-share non-state-owned listed companies in 2011.
Yu Hongfu was also born in 1962 and has more than 30 years of experience in the machinery industry. He joined Sany Heavy Industry Co.Ltd(600031) in 2006. He once served as the general manager of atlas construction machinery Co., Ltd., the Deputy Secretary General of excavator branch of China Construction Machinery Industry Association, the third vice president of excavator branch of China Construction Machinery Industry Association The seventh chairman of the excavator branch of China Construction Machinery Industry Association and the technical quality expert of the technical quality Committee of the national construction machinery industry technical quality information network.
According to the 2020 annual report, Liang Wengen’s annual salary is 1060800 yuan, Xiang Wenbo’s annual salary is 964800 yuan and Yu Hongfu’s annual salary is 17336600 yuan. Liang Wengen directly holds Sany Heavy Industry Co.Ltd(600031) 2.78%, Sany group holds 29.2%, while Liang Wengen holds 56.74% of Sany group. Finally, Liang directly or indirectly holds Sany Heavy Industry Co.Ltd(600031) 19.2%.
Another focus of market attention is whether Liang Wengen, the son of Liang Wengen, will return to China?
Liang Zaizhong was born in 1984 and joined Sany group after graduating from Warwick University in 2006. In November 2021, Liang Zaizhong said that he resigned as a director of Sany Heavy Industry Co.Ltd(600031) due to job transfer, and will not hold any position in Sany Heavy Industry Co.Ltd(600031) after his resignation.
At present, Liang is the chairman and actual controller of tree root Internet, a cloud platform solution provider for industrial Internet of things. Liang Zaizhong is planning to promote the listing of the company. In March 2021, the Guangzhou regulatory bureau of the CSRC announced that Shugen Internet has handled the counseling filing registration with the Guangdong securities regulatory bureau.
“the first private heavy industry”
In addition to the “richest man”, Liang Wengen’s title of “the first person in private heavy industry” is more popular.
Liang Wengen was born in December 1956 in daotong village, Maotang Town, Lianyuan City, Hunan Province. In 1983, after graduating from Central South University of mining and Metallurgy (now Central South University), Liang Wengen was assigned to Hongyuan Machinery Factory. Hongyuan Machinery Factory is an arsenal, built in 1965 and subordinate to the fifth Ministry of machinery industry. It is located in the middle and low mountainous area of Lianyuan city,
But Liang Wengen was not satisfied with this. In 1986, he left the machinery factory with Yuan Jinhua, Mao Zhongwu and Tang Xiuguo and decided to start a business in the sea. I have sold sheep, wine and glass fiber, but these short-term entrepreneurial activities ended in failure. In the same year, Liang Wengen set his sights on non-ferrous metal solder, and the four raised 60000 yuan to set up Lianyuan Maotang welding material factory. Three years later, the income of this small factory exceeded 10 million yuan.
By 1993, Liang Wengen renamed the welding material factory “Sany group”. Sany means “creating first-class enterprises, cultivating first-class talents and making first-class contributions”. In, Sany’s output value exceeded 100 million yuan. In 2003 Sany Heavy Industry Co.Ltd(600031) landed in the capital market.
At present, Sany Heavy Industry Co.Ltd(600031) has developed into the largest construction machinery manufacturer in China and the sixth largest in the world. Its main products are concrete machinery, excavators, cranes, piling machinery and road construction machinery; Its market share of concrete pump truck, concrete pump and full hydraulic roller ranks first in China, and its output of pump truck ranks first in the world. It is the largest concrete machinery manufacturing enterprise in the world.
From 2011 to 2021, Sany Heavy Industry Co.Ltd(600031) excavator products ranked first in sales in China for ten consecutive years. After reaching the global sales champion in 2020, Sany realized the sales of nearly 78000 excavators in China in 2021, accounting for more than 30% of the market for the first time, and the international sales exceeded 22000, doubling the growth.
In addition, in the first 11 months of 2021, Sany Heavy Industry Co.Ltd(600031) excavators sold more than 20000 units overseas, and the cumulative overseas sales exceeded 10 billion yuan. Both data set a new record in China’s construction machinery industry.
profits fell in the third quarter of last year
Sany Heavy Industry Co.Ltd(600031) recently, there have been frequent personnel adjustments. On October 13, 2021, due to internal job transfer, Xiao Youliang applied to resign as secretary of the board of directors and will continue to hold other positions in the company.
Xiao Youliang, born in 1968, joined Sany Heavy Industry Co.Ltd(600031) in 1989 and successively served as director of the company’s finance department, director of the audit department, deputy chief financial officer, chief financial officer and Secretary of the board of directors. The 2020 annual report shows that its annual salary is 1.02 million yuan.
Cai Shenglin, the successor, was born in September 1986 and graduated from the school of economics and management of Tsinghua University with a bachelor’s degree in management in 2008.
Where will the new team lead Sany Heavy Industry Co.Ltd(600031) ? The market is listening and watching. The challenge in front of them is not small.
In the first three quarters of 2021, Sany Heavy Industry Co.Ltd(600031) achieved an operating revenue of 87.718 billion yuan, a year-on-year increase of 20.34%; The net profit was 12.567 billion yuan, a year-on-year increase of 0.91%. Although the performance of Sany Heavy Industry Co.Ltd(600031) in the first three quarters increased slightly, it decreased significantly in the third quarter. The operating revenue in the quarter was 20.59 billion yuan, a year-on-year decrease of 13.14%, and the net profit attributable to the parent company was 2.493 billion yuan, a year-on-year decrease of 35.32%.
In this regard, Sany Heavy Industry Co.Ltd(600031) explained that it was mainly affected by the weakening downstream demand in China and the high base of over compensation rebound last year, the growth rate of the company’s revenue decreased and the product structure changed; At the same time, the company continued to promote the strategy of digital internationalization and electrification, and increased the investment in talents and R & D.
Affected by the periodicity of the industry, Sany Heavy Industry Co.Ltd(600031) performance fluctuates significantly. According to the data of the annual report, from 2012 to 2016, the net profit deducted by the company decreased by 36.5%, 52.08%, 89.45%, 130.76% and 300.84% respectively, of which the losses in 2015 and 2016 were 78 million yuan and 313 million yuan respectively. From 2017 to 2020, the net profit deducted by the company increased by 670.02%, 237.83%, 72.44% and 34.01% respectively year-on-year.
In the secondary market, Sany Heavy Industry Co.Ltd(600031) also performed poorly. Its latest market price is 2.425 billion yuan, which is lower than the high point of 49.7 yuan / share on February 18, 2021, and the market value has evaporated by 216.147 billion yuan.
