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On the afternoon of April 26, the symposium on mergers and acquisitions of listed companies in Nanhai District and the first "Chairman Salon" of the 2024 Nanhai District Enterprise Listing Promotion Association were held in Qiandeng Lake Venture Capital Characteristic Town. The meeting focused on the market opportunities brought by the new "National Nine Measures", encouraged listed enterprises in Nanhai District to take the initiative to adapt to the situation, flexibly apply M&A and restructuring tools to enhance the core competitiveness and industry influence of enterprises, and attracted 35 guests and representatives from different fields to participate in the joint planning of the future development direction of listed companies.
Use your platforms and tools to accelerate on new tracks
"M&A and restructuring is a new track, in the face of the upcoming wave of mergers and acquisitions, listed companies in the district should actively respond, stand at the forefront of the tide, and achieve leapfrog development in market value and profits. Qiao Jifei, a member of the Standing Committee of the Nanhai District Party Committee, said.
On April 12, the State Council issued the "Several Opinions on Strengthening Supervision and Risk Prevention and Promoting the High-quality Development of the Capital Market", which clearly stated that "listed companies are encouraged to focus on their main business, comprehensively use mergers and acquisitions, equity incentives, etc. to improve the quality of development", "increase the intensity of mergers and acquisitions and restructuring reforms, and take multiple measures to activate the mergers and acquisitions market". In addition, in the relevant system of delisting, it is proposed to "encourage and guide leading companies to increase the integration of listed companies in the industrial chain based on their main business", "strengthen the supervision of mergers and acquisitions, strengthen the relevance of the main business, and strictly control the quality of injected assets". The new "National Nine Articles" put forward higher requirements and expectations for enterprise mergers and acquisitions. In fact, starting from August 2023, various M&A and restructuring policies have been introduced one after another, combined with the current situation of IPO tightening, we can get a glimpse of the future trend of the capital market: M&A and restructuring will enter a stage of rapid development.
The symposium on mergers and acquisitions of listed companies in Nanhai District and the first "Chairman Salon" of the Nanhai District Enterprise Listing Promotion Association in 2024.
In the face of the upcoming wave of mergers and acquisitions, how should listed companies in Nanhai District respond?
"Despite the complexity of the current capital market situation, our confidence in the future capital market is beyond doubt. Wang Jidong, head of the infrastructure and modern service industry in South China of CITIC Securities Co., Ltd., believes that the original extensive or only talk about the valuation level of the market behavior will be gone, and Foshan and Nanhai have been at the forefront of the country in the transformation and upgrading of traditional industries, digital and intelligent transformation, and platform construction. Under the new situation, listed companies in the South China Sea should pay more attention to the intrinsic value of the enterprise and the help of the long-term development of their main business, and make the enterprise further bigger and stronger through mergers and acquisitions around the main business and with the help of professional institutions.
Wang Jidong analyzed the situation of the capital market.
"It can be said that we have become a 'new force' in the market from a 'poor boy', and it is to make good use of the powerful tool of mergers and acquisitions, and we will continue to make good use of the platform and merger and acquisition tools of listed companies in the future, and achieve scale on the performance level through internal tapping potential and external extension. Zou Weifeng, director and deputy general manager of Guangdong Xinjingang Technology Co., Ltd., sighed.
Zou Weifeng, director and deputy general manager of Xinjingang, delivered a speech.
Nanhai has made a clever move to support the whole process of enterprise mergers and acquisitions
"The district party committee and district government will vigorously support enterprises in the whole process of mergers and acquisitions and restructuring of enterprises in Nanhai District, optimize the supply of factors, coordinate and solve problems, reduce mergers and acquisitions costs, and ensure the smooth progress of mergers and acquisitions. Qiao Jifei said. Specifically, it includes the following three aspects:
The first is to reduce the cost of mergers and acquisitions. For the financial expenses incurred by listed enterprises in the zone in the process of mergers and acquisitions (including but not limited to the fees of intermediaries such as securities firms, lawyers, accountants, consulting agencies), the Measures for Promoting the Listing and Development of High-quality Enterprises in Nanhai District, Foshan City clearly states that 50% of the actual expenditure will be subsidized after the fact, and the maximum subsidy for a single project is 10 million yuan. In addition, the "Administrative Measures for Special Funds to Support Key Enterprises in the Foshan Industry to Carry out Industrial M&A" issued by the Municipal Financial Bureau in 2023 also provides subsidies for intermediary fees and loan interest.
Qiao Jifei introduced the relevant policies of Nanhai District to support enterprise mergers and acquisitions to the entrepreneurs present.
The second is to optimize the supply of factors. Encourage financial institutions to innovate M&A financing products and services, and provide enterprises with more flexible and diversified financing solutions. Increase the supply of land, give priority to ensuring the land needs of the acquired enterprises, and support the acquired enterprises to relocate to the South China Sea on the premise of meeting the actual needs of the development of enterprises.
The third is to coordinate and solve difficult problems. Coordinate and solve problems such as uneven distribution of interests, cultural conflicts, and employee placement that may arise in the process of mergers and acquisitions. At the same time, we will strengthen the support for the post-merger integration of enterprises to help them achieve a smooth transition and integrated development after the merger.
The scene of the symposium.
The successful convening of the symposium on mergers and acquisitions of listed companies in Nanhai District not only helps to promote the mergers and acquisitions and restructuring activities of listed companies in Nanhai District, enhance their overall competitiveness and industry influence, but also demonstrates the deep understanding and keen insight of the Nanhai District Government into the capital market, as well as its firm support and high attention to the development of enterprises. This initiative will inject new vitality and impetus into the future development of listed companies in the Nanhai District.
Text, photo/Foshan News and Media Center reporter Huang Yitong correspondent Jin Ke