State -owned Assets Supervision and Administration Commission of the State Council: Strengthen authorization of the state -owned holding listed companies

Experts believe that the reform of central enterprise holding listed companies in the next two years will create greater value for investors.

Digging integrated space

With the three -year operation period of state -owned enterprise reform, the professional integration of central enterprises has increased significantly.

Weng Jamen emphasized that it is necessary to work hard in the intensity, breadth, and depth of the professional integration of central enterprises. It is necessary to take the initiative to excavate the integrated space between the central enterprises and the central land, the cross -level, and the cross -regional integration space between the central enterprises, and promote the optimization of resource optimization in a wider range. It is necessary to strengthen the in -depth integration after integration, and fully release the integrated operation dividend.

The SASAC previously stated that it will be integrated with the same business between enterprises or homogeneous businesses, and in key areas and strategic, forward -looking, forward -looking, forward -looking, forward -looking, forward -looking, forward -looking, forward -looking, and forward -looking of key areas of inspection and testing, medical health, equipment manufacturing, artificial intelligence, new energy, cloud computing, steel, and logistics Emerging industries have accelerated first -class enterprises with strong competitiveness and excellent resource allocation.

"This year is the year of the three -year operation of state -owned enterprise reform. It is expected that there will be more reorganization and integration of central enterprises during the year." Shanxi Securities Analyst Li Kongyi said that in the field of state -owned enterprise reform, central enterprise reorganization integration will still be "highlights". It is expected that it is expected The reorganization in the fields of energy, automobiles, transportation and military industry will accelerate the landing.

Wang Lei, a researcher at Zhongtai Securities, predicts that under the policy -driven, the Power Metropolitan Enterprise Group will further systematically sort out hand -made resources, and gradually inject the existing unbound high -quality assets into listed companies in combination with the actual situation, or seek separate listing.

Encourage the benchmarking

Improve the quality of state -owned listed companies is an important part of the three -year action of state -owned enterprise reform. Weng Jieming said that it is necessary to promote listed companies to become a pioneer rate for market -oriented business mechanisms. For the market -oriented mechanism reform tasks of three -year action requirements, listed companies should take the lead in completing high quality. Support and encourage listed companies and leading enterprises in the same industry to be targeting and targeted in terms of performance, efficiency and other aspects.

In terms of improving the governance mechanism, Weng Jieming said that it is necessary to continue to vigorously promote listed companies with a shareholding shareholding of state -owned shareholders than 50%, introduce active shareholders who hold 5%and above to participate in corporate governance, and support active shareholders nominations to participate in listed companies decision decisions Essence Encourage central enterprises and between central land and central land to participate in the improvement of corporate governance through various methods such as subscribing to shares and stock exchange. At the same time, to increase authorization and decentralization of state -owned holding listed companies, state -owned controlling shareholders must perform their duties of investors in accordance with the investment ratio and the company's articles of association in accordance with laws and regulations, and will not interfere with the autonomy of the listed company's operations through administrative methods.

Chen Guo, chief strategy officer of CITIC Construction Investment Securities, believes that the reform of central enterprise holding listed companies in the next two years will create greater value for investors. Those central enterprises holding listed companies, such as weak business collaboration, long management chain, lack of continuous operating capabilities, long -term loss of financing functions, and risk of dislocation and out of control.

Improve the incentive coverage

Promoting the implementation of medium and long -term incentives for state -owned enterprises is an important starting point for deepening the reform of state -owned enterprises in recent years.

Weng Jamen emphasized that it is necessary to improve the coverage, flexibility and matching of state -owned enterprises for medium -term incentives. Combined with the actual situation of the unit, more innovative and more flexible use of various incentive policies and tools to make the policy more benefit the backbone personnel. At the same time, strengthen precise incentives for scientific and technological innovation talents. It is necessary to give more efforts to the scientific and technological innovation backbone talents that play an important role in creating original technical sources, building a long industry chain chain, and carrying out key core technology research, and give full play to the role of precision drip irrigation and leverage.

Mid -term incentives have become a must -have "weapon" for state -owned enterprises and central enterprises to attract talents and activate enterprises. The relevant person in charge of China Energy Construction Group stated that the Group established a "3+2" medium and long -term incentive mechanism to introduce restricted stock incentive plans, equity and dividend incentives for science and technology enterprises, sharing of total profit reward salary, virtual equity follow -up, etc. The incremental profit of 9 households implemented incentives accounted for 41%of the Group's total increasing profit in 2021, and the role of incentives and leverage was fully demonstrated. According to the relevant person in charge of China Southern Airlines Group, the group issued the "Guidelines for the Incentive Mechanism" to fully implement the mid -to -long -term incentive tools such as employee holding, excess profits sharing, job dividends, and project dividends in sub -enterprises, and accumulated more than 800 people.

Experts believe that with the end of the three -year action plan of state -owned enterprise reform, state -owned enterprise reform will further deepen the development at various fields and levels, and the depth of state -owned enterprises and central enterprises, especially in motivation, especially equity incentives, will be further improved.

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