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For Yu Yong, the new head of Hebei Iron and Steel Group, the largest steel company in China, the biggest problem facing him now is how to fulfill his full-year turnaround in 2014 and his comprehensive profitability commitment in 2015. As a result, Hebei Iron and Steel Group announced that its Tangshan Iron and Steel and South Korea's Posco companies have jointly formed a new company to formally enter the domestic LED market. Analysts pointed out that it is understandable that steel enterprises to develop non-steel industry to make up for the loss of the main business. However, due to the large number of branches and the scattered structure of Hebei Iron and Steel, how to integrate the development of non-steel industry will be a major problem in the face of bravery. Joining the Korean steel giant to enter the LED rumors that five years into China's first approaching the end of 2013, Hebei Iron and Steel Group announced that its Tanggang Chuangyuan Fangda Company and South Korea's Pohang ICT Company jointly formed Tanggang Pohang (Tangshan) New Light Source Co., Ltd. Formally entered the LED industry. This is the first investment decision of the new head of the Hebei Iron and Steel Group since the personnel earthquake in December last year. Hebei Iron and Steel Group and South Korea's Posco Steel Group, one is the largest steel company in China, and the other is the largest steel company in South Korea. The two major steel giants joined forces to cross the border into the LED industry, and both sides are full of confidence in this marriage. It shows the ambition of the LED industry. Tanggang Chuangyuan Fangda Company told Netease Finance that the new company will eventually reach the number one goal in the Chinese lighting market. Zhao Fenglai, president of Pohang ICT and general manager of Pohang LED, said that the new company will achieve profitability in 2014, achieving the goal of ranking first in China's lighting market within five years, and even becoming the world's number one LED lighting company. It is reported that the total investment of the joint venture project is 61.26 million yuan, which is jointly invested and managed by Tangshan Steel and Posco and is responsible for sales in the Chinese market. Its products are positioned as high-end LED lighting products with energy saving, longevity and high efficiency. The initial design scale of the company's project is 379,000 sets with an annual output value of 207 million yuan. Tanggang Chuangyuan Fangda revealed that the new company’s medium-term goal is to achieve a sales income of 500 million yuan, and the latter and Posco will invest again as needed. In addition, as early as 2012, Tangshan Chuangyuan Fangda Company conducted a one-year research and development on LED technology and had production conditions. According to the profile of Tangshan Chuangyuan Fangda Company, Tanggang Chuangyuan Fangda Company is a non-steel industry of Tangshan Iron and Steel Co., Ltd., responsible for the production of power equipment, cables, electrical appliances, and automation instruments. According to the information disclosed by Posco ICT, Posco began to get involved in the LED industry as early as 2009. Its self-proclaimed LED lighting production technology is in a leading position in the world, and 179 technical patents applied for registration in Korea are applied abroad. There are 58 technical patents, and the proportion of patents applied to products in 2012 is as high as 79. Pohang LED is at the forefront of technology in the international arena, with a number of patents and proprietary technologies. Tang Gang’s choice of Posco requires Pohang’s brand and High-end technology; Posco chose Tang Steel to have the market share of Chuangyuan Fangda, Tanggang Chuangyuan Fangda Company said. Hebei Iron and Steel's new head vows to turn losses to the main development of the non-steel industry. In fact, the joint launch of Pohang LED in the first half of last year was in the planning of Tangshan Iron and Steel, and then served as the chairman of Tang Gang, Yu Yong, from the initial negotiation to the subsequent The signing of the letter of intent for cooperation and the signing of the joint venture contract are all involved. According to people close to Tangshan Iron and Steel, the LED industry is an important project in Tangshan's non-steel industry planning. It is reported that Tangshan and Pohang started talking about LED cooperation as early as May 2013. On June 3, 2013, the two parties signed a letter of intent for cooperation, and on September 12, 2013, they signed a joint venture contract. According to the data, Yu Yong has been working in Tangshan Iron and Steel. He has served as the director of the iron and steel plant of Tangshan Iron and Steel Co., Ltd., assistant to the general manager, executive deputy general manager and general manager. In 2012, he served as general manager and party committee deputy of Hebei Iron and Steel Group. Secretary, and chairman and general manager of Hebei Iron and Steel Group Tangshan Iron and Steel Group Co., Ltd. It is worth mentioning that on December 9, last year, Hebei Iron and Steel Group experienced a mass earthquake. On the same day, the Hebei Provincial Party Committee and the provincial government announced that Yu Yong had replaced Wang Yifang as the chairman and party secretary. The former head of Wang Yifang left Yu Yong, Hebei Iron and Steel will soon have to announce a loss for two consecutive years. According to data provided by people from Hebei Iron and Steel Group, the Group was established in 2008 and the Group continued to make profits in 2008. In 2012, the Group's operating income decreased from 250.3 billion yuan in the previous year to 247.8 billion yuan. The annual profit of 2.923 billion yuan has turned into a loss of 522 million yuan. The person said that although the financial data of Hebei Iron and Steel Group was not disclosed, it is expected to be a loss in 2013. In the group meeting on December 9, Yu Yong emphasized that achieving the full turnaround in 2014 is the Group's current biggest goal and the biggest politics. It is the overriding central task. For Yu Yong, the biggest problem facing him now is how to fulfill his commitment to achieve a comprehensive turnaround in 2014 and full profitability in 2015 after he took office. It is expected that Yu Yong will develop the non-steel industry after he serves as the chairman of Hebei Iron and Steel. It is close to Tang Gang’s speculation that after Yu Yong’s promotion to the chairman of Hebei Iron and Steel Group, in order to realize the loss, he will continue its development during the period of hosting Tangshan Iron and Steel. Steel industry strategy. The aforementioned person close to Tang Gang said that Yu Yong was considered inside the Tangshan Iron and Steel Group as the earliest person in the Chinese steel industry to propose the concept of non-steel. In 2010, during his tenure as general manager of Tangshan Iron and Steel Co., he proposed that Tangshan Steel should start planning for non-steel industry. In October of that year, Tangshan Steel established a non-steel business unit and officially began to lay out its layout in the non-steel industry. The decision to develop the non-steel industry was personally captured by him. According to reports, Tang Gang Chuangyuan Fangda Co., Ltd., which joined forces with Pohang to enter the LED industry, is one of 22 non-steel subsidiaries of Tangshan Steel. In addition, Tangshan Iron and Steel has established a number of subsidiaries such as gas companies, logistics companies, commerce companies, new business companies, Tangshan Meijin Coal Chemical Company, and real estate companies. It is reported that in the first half of 2013, Tangshan Steel issued the “Twelfth Five-Year Development Plan for Non-Steel Industry of Tangshan Iron and Steel Industryâ€, preparing to increase investment in non-steel industry. The goal is that the output value of non-steel in 2015 can reach or exceed the main business of steel. The output value hopes that the non-steel industry will achieve leapfrog development. The steel giant turned its losses and was hindered by its own disadvantages. The first is not optimistic about the development of non-steel industry in Tangshan Iron and Steel Group. It has indeed achieved certain results, and its performance is better than other companies in the group. Steel industry insiders pointed out that among the various subsidiaries of Hebei Iron and Steel, Tanggang and Handan Iron & Steel have maintained profitability, while Xuanhua Steel and Chenggang have suffered losses. Among them, Tang Gang is under the presidency of the non-steel industry, which started earlier. An important reason for its own profitability. Looking at the entire industry, the main business of steel companies is generally difficult. According to the China Iron and Steel Association data, in September 2013, domestic large and medium-sized steel enterprises realized a total profit of 3.266 billion yuan, but mainly due to the increase in investment income, the steel industry is still at a loss stage. Zhang Changfu, vice president and secretary general of China Iron and Steel Association, expressed his feelings that from January to November 2013, the profits of the steel industry totaled 16.18 billion yuan, and the industry sales profit rate was only 0.48. The steel industry's main business had a profit of 5.8 billion yuan. But it is estimated that one ton of steel can only earn a pound of pork. However, for the overall development of non-steel industry in Hebei Iron and Steel Group, analysts pointed out to NetEase Finance that Hebei Iron and Steel Group has genetic defects, which are reorganized and integrated by various independent steel mills, with many branches and steel mills, and the product structure of each branch steel mill. In contrast, steel companies such as Baosteel and Wuhan Iron and Steel Co., Ltd. have developed non-steel industries. If the steel mills of Hebei Iron and Steel Group invest in non-steel industries separately, the capital pressure will be relatively large. If joint ventures are invested, attention should be paid to the integration effect. The analyst also said that since last year, iron and steel enterprises in Hebei Province have been affected by environmental remediation measures. Hebei Iron and Steel Group is located in Hebei. It is expected that environmental protection expenditure will be more than that of other provinces in the later period, which is also a test for its losses. . However, for Tangshan Iron and Steel Group's Tangshan Iron and Steel Group Co., Ltd. to join the LED industry, and announced that it will become the first in the Chinese lighting market within five years, LED industry analysts are not optimistic. Some LED analysts told Netease Finance that in the Korean LED market, the more well-known brands are Samsung and LG, etc. Although in recent years, it has been heard that the steel company in Pohang, South Korea is entering the LED industry, but the brand is well-known in the Chinese market. not tall. Posco has not yet sold (LED products) in China. Tanggang Chuangyuan Fangda said that Posco LED is at the forefront of technology in the international arena, with a number of patents and proprietary technologies, and the new company will eventually reach the Chinese lighting market. One of the goals that will be encountered (mainly) is the market and cost. Analysts said that with the support of policies, the maturity of current technology and the decline in product costs, LED lighting replacement is expected to occur this year, that is, the lighting field will be in an explosive period. However, this analyst is not optimistic about Tang Gang's joint efforts with Posco to enter the LED industry. At present, the competition in this market has been very fierce. I want to be the first in China's LED lighting market within five years. I don't see this possibility at present.
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