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Bank of China: The exchange rate is not a special drug. The third quarter is optimistic

Bank of China: The exchange rate is not a special drug. The third quarter is optimistic

2018/05/16

The recent appreciation of the yen, is it to increase the price of Taiwan's machine tool factory? "The exchange rate is not a special effect, and the Taiwanese factory must improve its core competitiveness." He said that Q1 is the bottom of the banking revenue, Q2 will be the machine tool components and components of the company's silver medalist Zhuo Yongcai (17th). Obviously improved, Q3 is the peak season for mobile phone shipments, which is worthy of optimistic expectations.

 

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The recent appreciation of the yen, is it to increase the price of Taiwan's machine tool factory? Zhuo Yongcai (17th), a machine tool component manufacturer, said that "the exchange rate is not a special effect drug, and Taiwanese factories must improve their core competitiveness." (Photo, reporter Luo Qianyi)

 

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Bank of China held its first quarter results briefing on Tuesday. The picture shows Chairman Zhuo Yongcai accepting media interviews. (Reporter Luo Qianyi photo)

 

Bank of China held its first quarter results presentation on Tuesday, with a revenue reduction of 6% to 2.984 billion yuan and a net operating margin of 5%, which was the same as last quarter but a decrease of nearly 15% from the same period last year. Liao Kehuang, the financial associate of Shanghai Bank, said that the main reason for the decline in operating net profit was the reduction in revenue and the recognition of the loss of the new M&A tool factory.
 
Recently, the Bank has been plagued by short rumors that cash flow is too low and accounts receivable soared. On the Bank of Shanghai, clarification was made on Monday, indicating that the first quarter was the bottom of the operation, and the inventory amount increased by 200 million yuan, which was naturally converted into business days.
 
The cash flow was about 1.7 billion yuan in the first quarter and 1.9 billion yuan in short-term loans. The Internet questioned the "debt days". The bank said that the increase in short-term borrowings is mainly due to cost considerations. Currently, the short-term interest rate of the banks is about 0.9%-1.1%. Medium and long-term interest rates range from 1.24% to 1.81%. "The purpose of raising short-term loans is to create the best rate of return. It is not the use of short-term debt to support long-term debt."
 
The outside world also questioned that the short-term debts of the Bank of China and the long-term debts were about 14.65 billion yuan, and the real mortgageable assets were only over 20 billion yuan. The financial supervisor of the Bank of China said: "The Bank of China was established 20 years ago, and the land has always been held by itself. The value has been turned over. Several times, it can be regarded as an asset stock, but the company is committed to the industry and never needs to emphasize this point."
 
In the second quarter of last week, the company's revenue increased, and the company believes that both cash flow and accounts receivable will improve. Recently, the Japanese yen has appreciated, and the Japanese factory has lost its competitiveness. The Japanese machine tool export orders have also hit a 32-month low. Can Taiwanese factories enjoy the transfer effect? Zhuo Yongcai said that the effect of the yen's appreciation will not appear so quickly. The decline in Japanese orders should be similar to the previous one, and temporarily cooled down. At the same time, the appreciation of the yen will not immediately benefit Taiwanese companies. "The exchange rate is not a special effect. Whether it is a Japanese factory or a Taiwanese factory, it must continue to innovate in research and development to improve its core competitiveness."
 
Zhuo Yongcai said that the first quarter of the Bank of China is the bottom of the market, the second quarter revenue will be significantly warmer, the third quarter due to the launch of new mobile phones, it is worth optimistic expectations. The market conditions in the fourth quarter will be observed again.