The hottest Jifeng agricultural machinery wants to

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Jifeng agricultural machinery wants to take advantage of the comprehensive service platform of "agricultural machinery and agriculture, rural areas and farmers"

Jifeng agricultural machinery wants to take advantage of the comprehensive service platform of "agricultural machinery and agriculture, rural areas and farmers"

China Construction machinery information sometimes adopts casting structure (cast steel, cast aluminum, etc.)

Jifeng agricultural machinery (300022), which was once famous in the market as "Suning in agricultural machinery", is quietly transforming. If investors only regarded this company as a "distributor of agricultural machinery" a year ago, they must not ignore the company's refocusing and in-depth excavation of its "platform advantages" and its determination and strength of transformation

"the company is carrying out strategic transformation with an open mind, cooperating with professional institutions to jointly build a future oriented 'big agriculture' platform for 'agricultural machinery, agricultural materials and agricultural products' (" agriculture, rural areas and farmers "), so as to gradually get out of the current operating difficulties". Recently, in response to investors' concerns about the company's performance and transformation, Wang Xinming, chairman of Jifeng agricultural machinery, said in an exclusive interview with China Securities News, After more than a year of reflection and exploration, the company has made in-depth adjustments, implemented relevant measures of strategic transformation one by one, and took a key step in asset integration. In the future, the company will be light loaded and comprehensively transform to an innovative 'agricultural machinery and agriculture, rural areas and farmers integrated service platform provider'

get rid of the biggest burden

the hardest time may have passed

on October 14, Jifeng agricultural machinery released the performance forecast for the first three quarters of this year. It is expected that the company will lose 92.5 million yuan -97 million yuan this month, a year-on-year decrease of 159.98%-172.63%. In addition to the reduction of main business income brought about by the new agricultural machinery purchase and subsidy methods, a series of adjustments taken by the company based on strategic transformation also have an impact on the company's short-term performance

some investors are worried about the transformation and performance of the company. According to the financial report, the net profits of Jifeng agricultural machinery in 2012 and 2013 were 12.8462 million yuan and -144 million yuan respectively. According to the gem delisting regulations, if the company has suffered losses for three consecutive years, the company will be delisted directly. This also means that if the performance is not improved as soon as possible, the time left for Jifeng agricultural machinery will be less and less

"the management of the company has long recognized this and has a strong sense of urgency. Since last year, the company has made adjustments in many aspects, such as development strategy, business restructuring, organizational structure, network construction, internal management, personnel arrangement, salary treatment and so on, with great actions." an internal employee of Jifeng agricultural machinery told China Securities News, "Jifeng agricultural machinery is very different from the previous one, and the overall operation efficiency of the company is constantly improving." A detail that cannot be ignored is that Wang Xinming, chairman of Jifeng agricultural machinery, spent most of last year on the front line, personally investigating the operating environment and development cruxes of the front line, and then opened the prelude to strategic transformation

afterwards, Wang Xinming said frankly on many occasions, "it was a strategic mistake to intervene in construction machinery on a large scale in 2010". At that time, the industry generally adopted the credit sales model, which led to the sudden change of the situation later, and the construction machinery business seriously dragged down the performance of listed companies. The financial report shows that in 2013, Jifeng Great Wall lost 161million yuan; This month, Jifeng Great Wall lost 72.2942 million yuan, which is already insolvent

on August 15 this year, Jifeng agricultural machinery released a detailed equity transfer report of Jifeng Great Wall. On September 2, the transfer proposal was approved by the general meeting of shareholders, which was finally disposed of by Jifeng agricultural machinery as the "biggest burden", and Jifeng Great Wall will not be included in the consolidated statements in the future

"the company can go to battle with light equipment and continue to promote transformation". A person close to Jifeng agricultural machinery in Sichuan believes that stripping Jifeng Great Wall has solved some problems left over by history. The company's new positioning and a series of adjustments will inevitably bring a "painful period" to the company. The company's performance since last year has reflected the short-term negative impact of this active adjustment, Although the company's traditional agricultural machinery sales business is reduced, there is still a certain profit margin, said Yu Zhongbin, an engineer of Cangzhou Mingzhu diaphragm Technology Co., Ltd

not only that, Jifeng agricultural machinery once announced that the company would cooperate with professional investment institutions through various ways and channels, combined with the company's strategic adjustment, search for M & A targets that are conducive to the company's strategic transformation, improve the industrial chain, and enrich the business structure, so as to lay a foundation for the success of the company's future transformation

therefore, "in general, the worst of Jifeng agricultural machinery may have passed, but how much room for improvement in subsequent performance depends on the overall effect of the company's transformation."

a number of measures have been taken one by one to reverse the decline through strategic transformation

based on the development status of China's modern agriculture and the huge development space of agricultural circulation, after more than a year of summary and exploration, Jifeng agricultural machinery has been reorganized, combined with its own channel advantages in the field of agricultural machinery circulation, and finally positioned the development of the company as a "comprehensive service platform provider of 'agricultural machinery and agriculture, rural areas and farmers'", We hope to occupy an important position in the field of "big agriculture" through transformation

in Wang Xinming's view, transformation is imperative. He told China Securities News that the current macro environment of the industry has changed, just the agricultural machinery industry itself. Although the total market demand is still growing, the structure of agricultural machinery product demand has changed greatly, "In the past, there was a strong demand for agricultural machinery for major food crops (rice, wheat, corn, potatoes, etc.) to avoid dust falling into the machine, but now the demand for agricultural machinery before and after the production of traditional food crops is significantly increasing, and the heat is adjusting, but we think it is short-term." Wang Xinming said that based on the consideration of food security, relying on full mechanization is the only way to develop modern agriculture, which provides a broad space for the development of agricultural machinery. In addition, the emphasis on food safety in recent years has objectively expedited the demand for agricultural machinery related to the animal husbandry industry. "Looking at the whole circulation of agricultural materials, the market share of the top three in the field of chemical fertilizers and pesticides is as high as 20% - 30%, but the total market share of the top three in the agricultural machinery industry is less than 5%. The small, scattered and chaotic pattern of the circulation field of 'big agriculture' needs to be changed."

specifically, Wang Xinming pointed out that the same sales strategy adopted by the company in the South and North did not take into account the characteristics of the market, "There are many hilly areas in the south, and there is a large demand for small and characteristic agricultural machinery, but the market is relatively scattered. The company previously set up many sales networks in the south, and the management is relatively extensive. Since last year, the company has' closed, stopped, merged and transferred 'on the basis of the existing direct sales stores, and has targeted the transformation of some of them, such as adjusting the manpower allocation, increasing the construction of professional direct sales service stores, and making them regional services Center, strengthen the training and after-sales service functions of its users/dealers, and weaken the functions of product display and storage

not only that, Wang Xinming vigorously promoted the transformation of sales mode. In October last year, Jifeng e-commerce, which plays the role of "agricultural e-commerce" of Jifeng agricultural machinery, began its trial operation. Wang Xinming hoped to tap the market of "agricultural machinery parts" which is the weakness of the existing agricultural machinery sales market. He set up a special operation team within the company and integrated general machinery and small agricultural machinery business. "Through e-commerce marketing, we can solve the problems of difficult customer service and difficult machine purchase."

"the development of agriculture, rural areas and farmers needs to build an ecosystem. In the next step, the company will increase cooperation with professional institutions, promote the construction of its own flagship stores, and plan to spend about five years laying out professional flagship stores for agricultural machinery, agricultural materials and agricultural products." Wang Xinming said that Jifeng agricultural opportunity actively promotes the industrial chain alliance, realizes "large circulation leads large manufacturing", and guides upstream producers to integrate, At the same time, introduce foreign varieties with market potential into China, and finally reverse the plight of the company through in-depth reform and strong transformation within the company

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