Four types of processing enterprises in the contex

2022-09-22
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Four types of leading processing enterprises in the context of transformation 4. Nondestructive testing instruments (magnetic particle flaw detector, X-ray flaw detector γ Radiographic flaw detector, ultrasonic flaw detector, eddy current flaw detector, acoustic emission detector, etc.); Category: enterprises that need debt refinancing

the operation efficiency of this kind of enterprise itself is no problem, the debt ratio is not very high, and the return on investment can cover the debt financing cost. However, because the debt maturity is shorter than the investment recovery cycle, the enterprise may face refinancing pressure under the background of empirical tightening of liquidity. Such enterprises can resolve the crisis only through appropriate debt refinancing

the second category: enterprises that need to introduce equity capital

the operation efficiency of the enterprise itself is no problem, and the return on investment is also high. However, due to the high debt ratio, the debt financing cost is too high, and the impact resistance in the trough is weak. Such enterprises need to reduce the debt ratio and debt financing cost through the appropriate introduction of equity capital, so as to improve the ability to withstand the downturn

the third category: enterprises that can be merged as a whole

these enterprises have poor operating efficiency and low return on investment, but the assets themselves have profit space, but under the low turnover and high liabilities, the profit space is being rapidly eroded by financial costs. Such enterprises are more suitable for mergers and acquisitions by high-quality and efficient enterprises, so as to improve the efficiency of asset turnover, reduce the cost of debt financing, and release the profit space of the assets themselves

Allan Rasmussen, senior project manager of Lego, said that the fourth category of enterprises: enterprises that can only be sold by spin offs

the operating efficiency and asset quality of these enterprises themselves are not very good, and the profit space of assets has been swallowed up by high costs. Such enterprises are only suitable for asset level spin offs, and the selling price must be at least% of the original cost. However, due to the high debt of the company, the annual interest expense accounts for more than half of the sales, and the real equity value is difficult to estimate

in this case, the only way for the enterprise is to sell its assets at a discount, so as to stop the continuous loss of non cup-shaped shareholder value as soon as possible. Compared with the equity transfer at the company level, the debt at the asset level is relatively clear, the valuation is simple, and the transfer agreement is easier to reach

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