The "quality lifting" plan for the listed company of central enterprises holding a listed company has been introduced: 60 mergers and acquisitions to help the central enterprises' professional integration enthusiasm

27Jul

Our reporter Du Yumeng's "Improvement of the Quality Work Plan for Improve the Listed Companies of the Central Enterprise Holdings" (hereinafter referred to as the "Plan") issued by the State -owned Assets Supervision and Administration Commission on May 27 this year, " Methods to increase professional integration. " Two months later, the frequency of mergers and acquisitions and reorganizations of listed companies in A -share central enterprises has increased significantly. According to the Flush iFind data, as of July 26, the press publishing, during the year of the A -share market, a total of 2078 corporate mergers and acquisitions (excluding cases of transactions). Among them, there were 193 mergers and acquisitions involving state -owned asset -owned holding listed companies, an increase of 85%year -on -year. If the release time of the above -mentioned "Plan" is used as the segmentation point, in the past two months, A shares involved a total of 60 mergers and acquisitions of state -owned state -owned asset -owned holding listed companies, accounting for about 31.09%, which is almost doubled year -on -year. In an interview with the Securities Daily reporter, Qiao Mo, the national responsible partner of the China State -owned Enterprise State -owned Enterprise Reform and Development Center, said that this year is the year of the three -year operation of state -owned enterprise reform. At present It has achieved obvious reform results. In this context, with the release of the aforementioned "Plan", as a listed company with the highest quality business collection of central enterprise group companies, it will take on the next stage of deepening reform and development, especially high -quality development. In an interview with the "Securities Daily" reporter, Zhang Aoping, Dean of the Institute of Incident, said that with the help of mergers and acquisitions and reorganizations, it is not only an effective way to further develop and deepen the reform of mixed ownership. It is also an important means to promote the optimization of state -owned economic layout and structural adjustment. "Behind the significant growth of the mergers and acquisitions of listed companies in A -share central enterprises this year, it reflects the profound changes in the operating mechanism of the central enterprise." Zhu Changming, senior partner of the law firm in the sun, Zhu Changming In an interview with the "Securities Daily" reporter, first, the capital market has become the main battlefield of the capital operation of central enterprises. With the sharp increase in the proportion of asset securitization in central enterprises in recent years, central enterprise holding listed companies has become the "core" power of central enterprises, and the capital market has provided convenient conditions for the mergers and acquisitions of listed companies. Secondly, this also reflects the greatly improved capital operation capacity of central enterprises, that is, listed companies use capital operation methods such as mergers and acquisitions to play a supporting role in capital operations on the industry, thereby promoting the rational flow of state -owned capital, and improving the efficiency and returns of state -owned capital operations. Recently, the news that China Aluminum intends to spend 6.7 billion yuan to acquire 19%equity of Yun Aluminum shares, and once again ignites the expectations of the professional integration of central enterprises. Qiao Mo believes that from the current cases of M & A and reorganizations of state -owned state -owned asset -owned listed companies in the A -share market, it is mainly based on the two aspects of "entry" and "retreat". "Entry" is to concentrate on the emerging industries of forward -looking strategic, planning China's leading scientific and technological strategic industry and resource strategic industry advantages in advance, and to enhance the overall scale and industrial chain combination by reorganizing and integration, thereby enhancing global competitiveness; " "Retreat" is to withdraw from non -main business and non -advantageous business. For example, in May this year, China Automobile Research and Development announced that the controlling shareholder General Technology Group is carrying out inspection and testing business integration with China Inspection and Certification (Group) Co., Ltd. According to the reporter's understanding, the promotion of professional integration of central enterprises in the field of inspection and testing is precisely the important part of the State -owned Assets Supervision and Administration Commission's "focusing on the main business and cultivating superior enterprises" proposed by the SASAC's professional integration work. For another example, Qilianshan, a subsidiary of China Building Materials Group, announced that all assets and liabilities are intended to replace all assets with 6 design institutions in China and Chinese urban and rural areas. After the transaction, Qilian Mountain will withdraw from the cement industry to engage in engineering design consulting business. This is also a microcosm of the state -owned enterprise to stripped non -main assets and non -advantageous assets. In Zhu Changming's view, the proposal of the "Plan" adds "a fire" for the M & A incident of the M & A of the listed company of the A -share central enterprise state -owned asset -owned holding of A -share central enterprises. In the past two months, the M & A and acquisition incident of 60 state -owned state -owned asset -owned holding listed companies from A -shares is the best proof. It is expected that the mergers and acquisitions of A -share Central Enterprise State -owned Assets Holdings listed companies this year will show a significant increase.

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