【Sea River Night Talk】What’s wrong with Lansi Heavy Equipment? While orders kept coming in, there were huge losses of 1.3 billion
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Lanshi Heavy Equipment released its performance forecast. The net profit attributable to the shareholders of the listed company for the period from January 1, 2018, to December 31, 2018, is estimated to be around -13.9 billion yuan. Due to the large volume of orders for company equipment and the long order fulfillment cycles, the allocation of fixed costs is high, and some work-in-progress items show signs of impairment ； Affected by the credit tightening policies in the financial industry, property owners generally face tight funding conditions, making it more difficult for the company to collect its receivables. The company conducted an impairment test on its products and provided a provision for inventory write-downs of approximately 350 million yuan ； An analysis and cleanup of accounts receivable were carried out, resulting in the provision for bad debts on accounts receivable and long-term receivables amounting to approximately 2.5 billion yuan. During the reporting period, the company was affected by overcapacity in the industry; there was insufficient market demand, weak performance across the industry, fierce competition, and continuously falling prices for product orders. Meanwhile, the prices of raw materials such as steel continued to rise.
1207 22:38 Follow Recently, the hydrogenation refining reactor for the 450,000 tons per year fixed-bed hydrocracking unit intended for the deep processing and integrated utilization of coal tar at Shaanxi Jingyi Chemical Co., Ltd., which was manufactured by Workshop 1 for welding and assembly at Lanshi Heavy Equipment Company, was completed and shipped. This hydrogenation reactor is a large-thickness, large-diameter, high-tonnage vanadium-added steel forged and welded structure product manufactured at the Lanzhou facility of Lanshi Heavy Equipment. Since the start of production, the production and technical departments along with the workshops have worked together to overcome various challenges. By drawing on past experience in manufacturing vanadium-added steel plate hydrogenation reactors, they identified the difficulties in production, optimized the process flows, allocated resources efficiently, and enforced strict accountability, thereby accelerating the production process.
Not long ago, the largest omega ring heat exchanger in China, manufactured by LANSHI Heavy Equipment Co., Ltd., was hoisted into place at the diesel hydrocracking unit of Hengli Petrochemical’s 20 million tons per year integrated refining and chemical processing project.
Recently, the on-site fabrication of 11 oversized pieces of equipment for the 1.2 million tons per year PTA production project of Xinjiang Korla Sino-Thai Petrochemical Co., Ltd., which is being carried out by the mobile factory of LANSHI Heavy Equipment, is in full swing, with the main equipment having been completed one after another. The 11 oversized equipment units in this project are the first, second, third, fourth, and fifth refining crystallizers, the refining vent scrubbing tower, the oxidation off-gas gas-liquid separation tank, the circulating acetic acid tank, the off-gas washing vent tower, the safety valve vent washing tower, and the slurry mixing tank. The equipment has a maximum diameter of 8 meters, weighs 290 tons, with a wall thickness of 148 mm; its main structure is made of composite panels. Among them, the first, second, third, fourth, and fifth refining crystallizers, as well as the slurry mixing tank, all have stirring shafts; high requirements are placed on the coaxiality, as well as on the perpendicularity between the sealing surface of the central flange of the stirring shaft and the center of the cylinder body, which makes on-site manufacturing difficult. Xinjiang Lanshi completed the manufacturing of equipment components and tube sections, which were transported to the project site in segments for welding and final assembly by a mobile factory.
The 11 oversized equipment units in this project are the first, second, third, fourth, and fifth refining crystallizers, the refining vent scrubbing tower, the oxidation off-gas gas-liquid separation tank, the circulating acetic acid tank, the off-gas washing vent tower, the safety valve vent washing tower, and the slurry mixing tank. The equipment has a maximum diameter of 8 meters, weighs 290 tons, with a wall thickness of 148 mm; its main structure is made of composite panels. Among them, the first, second, third, fourth, and fifth refining crystallizers, as well as the slurry mixing tank, all have stirring shafts; high requirements are placed on the coaxiality, as well as on the perpendicularity between the sealing surface of the central flange of the stirring shaft and the center of the cylinder body, which makes on-site manufacturing difficult. Xinjiang Lanshi completed the manufacturing of equipment components and tube sections, which were transported to the project site in segments for welding and final assembly by a mobile factory. Located in the Gobi desert, Lansi Heavy Equipment’s mobile factory developed a scientific construction plan and organized production carefully to overcome various challenges such as the scorching heat in summer, the severe cold in winter, and the difficulties associated with lifting and aligning the tubular sections. After more than 8 months of hard work, the manufacturing of 7 units has been completed, with the remaining units to be finished and delivered one after another. The project was highly praised by the client, and Lansi Heavy Equipment was awarded the honorary title of “Outstanding Management Team Award”.