Poster News reporter Shen Tong reports
On December 13, when the market was in a downturn, the state-owned enterprise reform sector led the rise, and many shares rose to the limit. At the Central Economic Work Conference, it was proposed to further implement the deepening and upgrading of the reform of state-owned enterprises, so what are the directions of the market that are worth paying attention to?
The reform of state-owned enterprises is active
At the news level, the Central Economic Work Conference proposed to further implement the deepening and upgrading of the reform of state-owned enterprises, enhance core functions and improve core competitiveness. Affected by this, on December 13, the state-owned enterprise reform sector continued to be active, Sichuan Jinding 6 boards, Sunsea Intelligence 10 days 6 boards, Nanning Department Store, Boxin Co., Ltd. 3 boards, Yinfei Storage, Jinan High-tech, Shanghai Jianke 2 boards, Jingneng Heating, Baosteel Packaging, Hangzhou Jiebai, Construction Industry, Hunan Development and other daily limits, Nanjing Public Utilities and other daily limits.
A new round of deepening the reform of state-owned enterprises is gradually unfolding. The new round of state-owned enterprise reform includes a number of key tasks, such as optimizing the layout of the state-owned economy, accelerating the construction of a modern industrial system, promoting integration and reorganization in a market-oriented manner, and improving the efficiency of state-owned capital allocation.
In fact, since the second half of this year, state-owned assets in Jiangsu, Beijing, Gansu and other places have continued to move, which also indicates that a new round of deepening and upgrading of state-owned enterprise reform is opening.
On July 25, the State-owned Assets Supervision and Administration Commission of the State Council held a seminar on deepening and upgrading the reform of state-owned enterprises for the heads of local SASAC. The meeting emphasized that state-owned capital should be promoted to be "long-term capital", "patient capital" and "strategic capital".
On September 11, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting. We will further implement a new round of deepening and upgrading the reform of state-owned enterprises, deeply promote the reform of state-owned assets and state-owned enterprises in Northeast China, and vigorously enhance the core competitiveness of enterprises.
On September 13, the State-owned Assets Supervision and Administration Commission (SASAC) issued the Interim Measures for the Administration of Equity Participation of State-owned Enterprises. The "Measures" pointed out that the relevant provisions on the supervision and administration of state-owned assets investment should be strictly implemented, the main responsibilities and main businesses should be adhered to, in line with the strategic planning of enterprise development, and the investment in non-main businesses should be strictly controlled.
On October 11, it was reported that the State-owned Assets Supervision and Administration Commission (SASAC) recently deployed a new round of deepening and upgrading of state-owned enterprise reform. China Unicom, China Coal Group, China Resources Group and many other central enterprises are actively planning a new round of reform, and many places have also put forward a series of distinctive reform measures.
On November 24, the State-owned Assets Supervision and Administration Commission of the State Council held a special meeting of the heads of central enterprises. The meeting emphasized that it is necessary to coordinate the implementation of the deepening and upgrading of the reform of state-owned enterprises, and effectively play the role of a key measure in reform. It is necessary to consolidate and deepen the achievements of institutional and institutional reform, on the basis of promoting the implementation of functional reform tasks by enterprises, promote the reform of institutional mechanisms at every turn, promote the institutionalization and long-term effectiveness of modern corporate governance of state-owned enterprises with Chinese characteristics, improve more standardized and efficient incentive mechanisms, and accelerate the creation of more dynamic and efficient modern new state-owned enterprises.
On November 30, the 5th Yangtze River Delta Regional State-owned Assets and State-owned Enterprises Joint Conference was held in Xuancheng, Anhui Province, the meeting aimed to implement the spirit of the Yangtze River Delta region's main leaders symposium, focus on "new missions, new actions", exchange and discuss the experience and practices of promoting the deepening and upgrading of state-owned enterprise reform, and seek a new path for deepening the cooperation and development of state-owned assets and state-owned enterprises in the Yangtze River Delta.
More than 90 state-owned listed companies announced major restructuring events, and they rose immediately
Market participants said that a new round of state-owned enterprise reform and upgrading action has been launched, and the restructuring and integration of state-owned enterprises is the highlight of the current capital market. Subsequently, state-owned enterprises holding listed companies in the secondary market frequently initiated mergers and acquisitions, and the stock price also performed.
(Nanjing state-owned assets concept stocks rose significantly)
Wind data shows that since the beginning of this year, more than 90 state-owned listed companies have announced major restructuring events. As of December 13, Yangtze River Power, AVIC Airborne, Qilianshan, Lujiazui, Energy Conservation Environment, and Guangdong Hydropower have completed more than 10 billion asset injection plans. In addition, China Shipbuilding Technology, Beijing Human Resources, Gansu Nenghua, C&D Co., Ltd., YIPLI, Zhongyuan Environmental Protection, Sichuan Investment Energy, Zhuye Group, China Porcelain Electronics, and Aerospace Intelligent Manufacturing have completed more than 3 billion asset injection plans.
For example, on December 12, Nanjing Business Travel and Nanjing Gongyong, whose actual controllers are both Nanjing SASAC, were involved in asset restructuring, and their stock prices were divided into 11 days and 8 boards; On December 5, Huihong Group announced that it was included in Soho Holdings free of charge, and the company's stock price rose for two consecutive days after the announcement.
The integration of local state-owned enterprises is accelerating, and state-owned shell stocks are worth looking forward to
In addition, the reporter noticed that recently, state-owned assets in many places across the country have taken frequent actions. In addition to the above-mentioned Jiangsu Province, Shandong, Beijing, Gansu, Haikou and other places are also promoting the restructuring and integration of state-owned assets.
In August this year, the State-owned Assets Supervision and Administration Commission of Shandong Province announced the establishment of Shandong Guoxin Cultural Tourism Development Group Co., Ltd. and Shandong Guoxin Yiyang Health Industry Development Group Co., Ltd.
Guoxin Cultural Tourism was established on the basis of Shandong Cultural Tourism Group, a wholly-owned subsidiary of Lushang Group, and reorganized the relevant assets of six provincial enterprises, including Lushang Group, Shandong Gold, Luxin Group, Shandong Energy, Shandong High-speed and Shandong Guohui.
On the basis of Shandong Yiyang Health Group, a wholly-owned subsidiary of Shandong Energy Group, Guoxin Yiyang has reorganized a number of subsidiaries of 7 provincial enterprises, including Shandong Iron and Steel Group, Shandong Gold, Shandong Energy, Shandong State Investment, Shandong Guohui, Shuifa Group, and Shandong Geology and Mining.
For a long time, A-share listed companies have a "soft spot" for extended mergers and acquisitions, which can not only achieve financial consolidation and thicken performance, but also bring conceptual effects to the company, thereby promoting the rise of stock prices.
With the launch of a new round of in-depth implementation of the reform and upgrading of state-owned enterprises, state-controlled listed companies will still occupy an important position in the merger and reorganization market. "In terms of restructuring logic, in addition to strong alliances, those companies with low operating efficiency and intra-group competition hope to find new opportunities in this time window to achieve extrication. Wang Shanfei, head of Shanghai Liangwei Assets Co., Ltd., suggested that from historical experience, we can pay attention to small-capitalization companies due to small circulation, and the stock price is more likely to be driven by funds.
(Risk Warning: Investment is risky, information is for reference only.) The listed companies listed above only state that they are related to the event and are not intended as specific recommendations, and investors should make their own investment decisions and bear their own investment risks. ）