Immediately!Nanling people intended to acquire Yi Puli 95.54%of the shares to become a "leader"

Author | Reporter Zheng Yueliang

Source | State -owned Assets Xiaoxiang Rong Media

"Boot" is about to land.

On August 1, China Energy Construction and Nanling Minban issued an announcement at the same time that China can build a subsidiary Yi Puli reorganized listing. Nanling Minbuli will be the production capacity of the people's explosion industry through the acquisition The first -scale listed company, the target asset transaction is tentatively set to 5.357 billion yuan. It has been nearly 10 months since the first part of the two sides disclosed the reorganization mergers and acquisitions on November 2, 2021.

The road to reorganization is quite tortuous: the first case of A shares "split+backdoor"

This is the first case of "split+backdoor" in A shares.

At the capital market, the reorganization transaction structure has certain innovation and complexity, and the road to reorganization is quite tortuous.

A person familiar with the matter told the Securities Times: "China can build a listed company in A+H shares. First of all, the subsidiary Yi Puli must be split, and then the asset securitization is realized through the backdoing Nanling people. The three major exchanges in Hong Kong are also the first case in the market 'splitting+backdoor'. "Previously, the Nanling Minban also applied for reorganization and extension due to transaction complexity.

In terms of construction in China, the company has been promoting the absorption of stock conversion and combined with Gezhouba in recent years. Earlier, China Energy has completed the listing and listing of A shares, Gezhouba has been retired, but it has not yet been canceled. According to China's capable conversion stock absorption and merger Gezhouba plan, after the aforementioned absorption and merger, China can build as a depository company and will accept all assets, liabilities, business, contracts, qualifications, personnel, and other everything else's inheritance of Fang Gezhouba Group in Fang Gezhouba Group For rights and obligations, Gezhouba will eventually cancel the legal person qualification. Therefore, this rotating stock absorption may involve the ownership of some equity in the process of Epim's securitization.

Performance pressure period mergers and acquisitions: "leading" status may change market expectations

This operation is the time window for the performance of the Nanling people's explosion. According to the company's previous semi -annual results of the 2022 semi -annual performance, it is expected that net profit will be 11.241 million yuan to 22.482 million yuan in the first half of the year, a year -on -year decrease of 40%to 70%.

The performance pressure also changed the previous company's equity incentive related plan.

However, after the merger and acquisition operation, the market may give Nanling people a new expectation.

△ People explode mining.

After the transaction is completed, the Nanling Minbul will become the largest listed company in the production capacity of the people's explosion industry. The capacity structure will be greatly optimized, which effectively avoids the risk of production capacity of packaging and explosives. Essence After the completion of this transaction, the market layout of the listed company will be greatly expanded, and the sales channels will no longer be limited to the existing level. Through this transaction, listed companies will establish a head position in the domestic people's explosion industry.

It is worth noting that this transaction will cause changes in the controlling shareholder of Nanling Minben. After the completion of the transaction, the direct controlling shareholder of Nanling Min will be changed to Gezhouba, and the actual controller will be changed to the State Council of the State Council.

"Strong Joint Union" of the Central Land: It is in line with the main idea of ​​the reform of the state -owned enterprise in Hunan

At present, Nanling Minbu is still a first -class enterprise of Xiangke Group, and its actual controller is the Hunan SASAC. The reorganization of this central area is also similar to the recent background of Hunan state -owned enterprise reform.

In less than half a year of the three -year operation of state -owned enterprise reform, from the central to the local government, they were in fast horses and whip to catch up with the reform of state -owned enterprises. Since the beginning of this year, the progress of the reform of the state -owned enterprise in Hunan has attracted particular attention from all walks of life.

On July 20, the pattern of state -owned enterprises in Hunan Province has changed a lot -10 provincial -owned state -owned enterprises were reorganized into 5 enterprises, involving five important industrial sectors of Hunan infrastructure, agriculture, non -ferrous metals, tourism, and state -owned capital operations. The collective appearance of these five new state -owned enterprises has highlights its main position in the industry. In the future, it may represent Hunan Province to compete in the national track in the relevant industries.

△ The unveiling ceremony of the reorganization of state -owned enterprises in Hunan Province.

The industry believes that the union of Qiangqiang is the main idea of ​​this round of state -owned enterprise reform in Hunan Province. Relevant sources of the Hunan Provincial SASAC said that Hunan is accelerating the optimization and structural adjustment of the provincial -owned state -owned state -owned state -owned enterprise layout, reorganizing and integration in accordance with the business sector, enhanced scale strength, cultivated a number of pillar enterprises that fits the local development positioning, and further enhanced state -owned enterprises Core competitiveness.

At the recent economic operation analysis conference in the first half of the 2022 held by the Xiangke Group, in the face of the overall situation of the shrinking market, the group made the next step in the Nanling people's explosion. The strategic idea of ​​the development of the central enterprise "and the development of the South Lingmin explosion also reflects the characteristics of the joint industry chain. Due to the addition of the background of the state -owned enterprise, there are also new signs of linking to the central land.

Main editor | Xie Gongmei

Executive editor 丨 Huang Shangrun

School Audit | Small 100 billion

Editor in charge | Kuangjia

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