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【Financial Analysis】The joint construction of central enterprises and mutual assistance to deepen the reform and continuously release the dividend amplification effect

author:Xinhua Finance

Xinhua Finance Nanjing, May 11 (Reporter Shen Yinfei) In recent years, in order to focus on resources to strengthen and expand the military aircraft business, civil aircraft industry, military trade and international business, the Aviation Industry Group has carried out slimming and fitness work, attracting 67 billion yuan of recycled funds to support the development of the main business, and the proportion of core business income has increased by nearly 20 percentage points; COFCO focuses on the core business of grain, oil, sugar, cotton, meat and milk, promotes the strategic layout of infrastructure with high quality, with a global processing capacity of more than 120 million tons of agricultural and grain products, a port transit capacity of 74 million tons, and an annual operating volume of more than 170 million tons of agricultural and grain business; …

Recently, in the second exchange activity of the first group of joint construction and mutual assistance of the reform and upgrading of central enterprises undertaken by COFCO and co-organized by COFCO Donghai Grain and Oil Industry (Zhangjiagang) Co., Ltd. (hereinafter referred to as COFCO Donghai), a number of central enterprises demonstrated their experience, practices and achievements in the reform process with the theme of "focusing on the main responsibilities and main businesses, comprehensively deepening reform, and better fulfilling the responsibilities of central enterprises and serving the national strategy with higher quality development", and exchanged and discussed on further deepening the reform.

Reform continues to release "dividends"

In COFCO Donghai's packaging plant, 16 sets of intelligent visual inspection equipment on the assembly line identify 12 defective product information indicators such as bottle caps, liquid levels, labels, handles, and inkjet codes through image acquisition and automatic analysis and comparison technology, completely replacing the traditional manual oil inspection and increasing packaging production capacity by 41%; At COFCO Donghai's terminals, logistics technology innovation and improvement have enabled the automation of loading and unloading equipment and logistics informatization to be used, increasing the daily shipment volume of bulk grain by 125% and soybean meal by 25%......

"The reform has significantly improved COFCO Donghai's operational efficiency, labor efficiency, safety management level and environmental protection emission indicators, and continued to maintain the scale, technology and cost advantages of COFCO Oils and Oils East China, and continuously improved its product strength and industry competitiveness." Li Wanping, Secretary of the Party Committee and General Manager of COFCO Donghai, introduced that COFCO Donghai has accelerated the transformation and upgrading of old equipment and facilities, standardized the maintenance system through the investment of automated production equipment, continued to implement the hierarchical management of equipment, increased the proportion of independent maintenance, upgraded equipment management and energy management system, continuously improved the level of intelligence, built a full-chain smart logistics system, built a smart park and a black light factory, promoted "qualitative change" with "intelligent change", and accelerated the transformation and upgrading of traditional industries in grain and oil processing.

The changes that have taken place in COFCO East China Sea are the epitome of COFCO's comprehensive deepening of reform.

In recent years, COFCO has adhered to the core competence, management effectiveness and development momentum of reform, and accelerated the construction of a world-class grain merchant with global competitiveness. For example, in order to improve the level of scientific and precise operation and management, COFCO has innovatively built a "3+4+N" operation and control system based on the reality of diversified business, wide range of points and large management radius, paid close attention to the standardized operation of three research and decision-making meetings such as the party group meeting, the board of directors and the president's office meeting, and established four business meeting mechanisms, including weekly commodity market analysis meeting, monthly managerial business analysis and key issue special meeting, quarterly business work meeting, and semi-annual operation analysis meeting, and established bulk commodity trading, brand work, N leading groups such as risk disposal, scientific and technological innovation, bidding and procurement, and informatization have strengthened centralized leadership over key tasks related to the overall situation of production and operation, realized information exchange, resource sharing, overall operation, and collaborative linkage, and helped the group's total profit to stand at the level of 20 billion yuan for four consecutive years, and its operating performance has maintained a historical high.

Similarly in other central enterprises, reforms continue to bring "dividends". China National Building Materials focuses on both ends, in-depth transformation and upgrading, accelerates the upgrading of the basic building materials industry, anchors the high-end direction, and accelerates the high-end of the value chain. In 2023, the production and sales of special cement will increase by more than 30% year-on-year, and the sales volume will increase by 22.5% year-on-year.

China Three Gorges Corporation has continuously improved the innovation system and mechanism, built 4 national-level scientific and technological innovation platforms and 21 provincial and ministerial-level platforms, undertaken a number of major scientific research projects such as "unveiling the leader", strengthened the transformation and application of scientific and technological achievements, and formed a number of hard-core scientific and technological innovation achievements such as million-kilowatt hydro-generator sets and large-capacity offshore wind turbines, and the Three Gorges Project won the special prize of the National Science and Technology Progress Award.

Zhou Lisha, research director of the China Modern State-owned Enterprise Research Institute of Tsinghua University, believes that the new round of deepening and upgrading of state-owned enterprise reform emphasizes that it is necessary to strengthen the layout of key areas, strengthen the controlling position of the state-owned economy in the fields of national defense and military industry, energy resources, and food supply through market-oriented methods, and increase the effective supply of public services in the fields of people's livelihood such as medical and health care, health and elderly care, disaster prevention and mitigation, and emergency security. State-owned central enterprises should adhere to the origin, focus on the main business, focus on strict control of increments, effectively optimize the stock, based on the development of business that is in line with the characteristics of the enterprise industry and the needs of the main business.

The radiation effect of the reform will be further amplified

It is understood that recently, the State-owned Assets Supervision and Administration Commission of the State Council issued the "Notice on the Establishment of a Joint Construction and Mutual Aid Mechanism for the Reform and Deepening of the Reform of Central Enterprises" to the central enterprises, and the central enterprises have been divided into 10 groups, led by the team leader unit to start the relevant work.

Industry insiders believe that the establishment of a joint construction mutual aid group is a new initiative of the State-owned Assets Supervision and Administration Commission of the State Council this year, to provide opportunities for mutual learning, exchange and cooperation between the front-line departments of central enterprises, and to further amplify the radiation effect of reform by enhancing reference and exchanges, and to solve the outstanding contradictions in the reform.

2024 is a key year for the implementation of the deepening and upgrading of reform. The Action Plan for Deepening and Upgrading the Reform of State-owned Enterprises (2023-2025), issued in June last year, clarified the task book, timetable and roadmap for a new round of state-owned enterprise reform. Today, the State-owned Assets Supervision and Administration Commission of the State Council has made it clear that 70% of the main tasks of the reform will be completed in 2024, and the reform path is to focus on optimizing resource allocation, improving institutional mechanisms, and improving institutional guarantees.

Zhang Haoliang, deputy general manager of the governance department of Dongfeng Motor Group Company, said that this year, the company will carry out in-depth reform and deepening and upgrading actions, persistently promote the focus on the main business of slimming and fitness, innovation and development, transformation and upgrading, and make every effort to transform the formed strategic layout and innovation achievements into market competitiveness, realize 100% electrification of new models of the main brands of independent passenger cars, ensure the full completion of the assessment indicators issued by the State-owned Assets Supervision and Administration Commission, and promote breakthroughs in transformation and upgrading.

Wang Xindong, member of the party group and deputy general manager of COFCO, believes that the joint construction and mutual aid mechanism is an innovative measure to help central enterprises "go out and invite in" and "open the door to carry out reforms", which has opened up a new way for the central enterprises to strengthen the benchmarking to find gaps, make up for shortcomings, and solve problems.

It is reported that the first plenary meeting of the Leading Group for Comprehensively Deepening Reform of the State-owned Assets Supervision and Administration Commission of the State Council held recently in 2024 further refined the key work into 10 key tasks. Among them, the key tasks include guiding central enterprises to develop strategic emerging industries according to local conditions and enterprise conditions; Deepen accurate assessment, establish a more distinct value creation orientation, and further promote the assessment of "one industry, one policy, one enterprise, one policy".

Editor: Xing Lisha

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