In the current economic environment, especially the continuous growth of liabilities of downstream construction enterprises and real estate enterprises, the capital pressure of concrete industry enterprises has increased significantly in recent years, the efficiency of capital flow has continued to decline, the capital cost of concrete enterprises has increased significantly, and the high-quality development of ready-mixed concrete industry is facing greater pressure. According to statistics, the net accounts receivable of concrete industry in 2022 is 1 trillion yuan, accounting for 52.23% of the business income of concrete enterprises, up 8.24% year on year. The pressure of
accounts receivable is great, and it is difficult to collect money. There is even a risk of becoming a bad debt, which can not be repaid at all. Therefore, in this case, in order to return the company's funds and improve the normal operation of the company, many concrete enterprises have embarked on the road of litigation and arbitration.
On July 7, Hainan Ruize New Building Materials Co., Ltd. issued the latest announcement. It is an announcement on the cumulative litigation situation of the company in the first half of 2023. The
announcement shows that in order to speed up the return of the company's accounts receivable funds, improve the company's cash flow situation, and reduce the impact of the provision for bad debts of accounts receivable on the company's profits, the company's concrete plate, as the plaintiff, recovered the payment for concrete goods, totaling 41 new lawsuits, involving a total amount of 70.9891 million yuan.
Not long ago, Chongqing Sifang New Material Co., Ltd. also issued a notice on cumulative litigation and arbitration matters.
The announcement shows that in order to reduce the balance of accounts receivable, improve the asset structure of enterprises and safeguard the legitimate rights and interests of enterprises, Chongqing Sifang New Material Co., Ltd. has adopted litigation and arbitration to recover the payment for commercial concrete after the failure of reasonable collection. According to statistics, the Company and its controlling subsidiaries have accumulated 105 lawsuits and arbitrations for 12 consecutive months (from May 25, 2022 to May 24, 2023), involving a principal amount of 22209 0.08 million yuan (without considering the delayed payment of interest, liquidated damages, litigation costs, etc.).
For some concrete enterprises, when the scale of accounts receivable reaches a certain level, facing a large number of Party a can not pay in time, they may also owe a lot of arrears to engineering enterprises or downstream construction parties. In the first half of
2023, Hainan Ruize, as the defendant, added a total of 45 new litigation cases, mainly construction contract disputes and sales contract disputes, involving a total amount of 35.1596 million yuan
. Shenzhen Tiandi Group Co., Ltd. issued a notice on the cumulative litigation and arbitration cases.
The announcement shows that the company has recently been affected by adverse factors such as declining demand in downstream industries and excessive competition in the market, which has increased the difficulty of industry operation and increased the pressure of capital turnover. The company generally uses the project as the settlement unit to pay for the materials of upstream suppliers. In recent years, due to the tight capital flow in the industrial chain, some downstream customers of the company failed to pay for the goods in accordance with the contract, resulting in a corresponding extension of the time limit for the company to pay for the materials of suppliers. Due to the new litigation and arbitration matters, lawyers and related litigation costs need to be paid, which will lead to an increase in the company's management costs. Some bank accounts of the company, its holding subsidiaries and Sun companies have been frozen by the judiciary due to litigation and arbitration of economic disputes, and some assets have been frozen, sealed up and auctioned. Some bank accounts and assets of the company were frozen due to the property preservation measures taken by the plaintiff in litigation/arbitration. With the settlement of litigation and arbitration matters caused by economic disputes, this part of bank accounts and assets can be unfrozen and restored to normal use. The company has taken relevant measures to ensure the operation of daily production and operation activities. For example,
in the field of construction engineering, when a large project starts construction, it is often tens of billions of yuan of investment. It is not easy for any project side to raise such large-scale funds in the construction cycle. Therefore, most projects are sold on credit layer by layer.
The project side looks for the construction side to advance funds, the construction side looks for the concrete enterprise to advance funds, and the concrete enterprise looks for the raw material supplier to advance funds. Credit advance is justifiable, the two sides pay according to the contract period, but the key is that the industry rarely has the spirit of contract, overdue breach of contract has become a common occurrence. Therefore, the generation of accounts receivable lies in the credit advance, and its source lies in the large amount of capital required by the project; the key to the high level of accounts receivable lies in the low degree of industry performance. Why does the
concrete industry form such a situation?
1. At present, the concrete market in most regions is in a state of "more monks and less porridge", and the competition among concrete enterprises is extremely fierce in the process of contracting business. In order to get more markets, some enterprises not only continuously reduce prices, but also increase many "preferential" measures, such as reducing the proportion of payment, advancing funds for construction, extending the payment period and so on. The commercial mixed industry is large, but the enterprises are scattered and the market is chaotic, so it is even more difficult to gain the right to speak in the market.
2. It is too easy to be "found fault". There are too many controversial links in concrete products, from quality, quantity to delivery time, which are prone to disputes, and concrete inevitably produces some defects in these links, so it is often seized, deducted or delayed payment.
3. There are many bills and the management is difficult. The concrete industry generally implements one vehicle, one ticket, and a mixing station has tens of thousands of delivery orders a year, or even more. It is quite difficult to achieve effective management of so many bills.
4. The consignee is frequently changed. Restricted by on-site conditions, the cards on the delivery list are basically migrant workers or low-level managers, who are highly mobile and can not confirm their valid identity when disputes arise.
5. The level of sales targets is uneven. Concrete enterprises sell products to very different objects, including general contracting enterprises, professional contracting enterprises and labor subcontracting enterprises, with a relatively large span, ranging from super general contracting qualified enterprises to non-qualified enterprises, from hundreds of millions to tens of thousands of registered capital, and from doctor's degree to primary school.
6. Sales in the concrete industry are all on credit. With the development of concrete industry, there are very few cash transactions or prepayments in sales, and most of them are on credit.
7. The use of the official seal is not standardized, and the signatory of the contract has no valid authorization. Because many projects are undertaken by foreign construction companies, which only send the project department locally, and only use the seal of the project department when signing the concrete sales contract, rather than its legal person seal or contract seal, there are some difficulties in identifying the contract subject when disputes arise.
8. The business level of marketing personnel is low. At present, the professional level of salesmen in concrete enterprises is generally low, their average educational level is less than high school education, and they lack professional knowledge of concrete, relevant knowledge of contract management and legal knowledge.
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