In the first half of this year, 31 listed companies controlled by state-owned enterprises successively disclosed mergers, acquisitions and reorganizations, including issuance of shares, cash purchases, and fixed increase fundraising purchases. Among them, chemical industry, new energy and other fields have become the focus of restructuring of listed companies controlled by central enterprises.
It is reported that in May 2023, the State-owned Assets Supervision and Administration Commission of the State Council issued the "Work Plan for Improving the Quality of Listed Companies Holding Central Enterprises", requiring all central enterprises to cultivate a group of professional leading listed companies with obvious professional advantages and outstanding quality brands within three years. Since the beginning of this year, the State-owned Assets Supervision and Administration Commission of the State Council has repeatedly proposed to use listed companies as a platform to carry out mergers and acquisitions. At present, there are 98 central enterprises under the State-owned Assets Supervision and Administration Commission, and a total of 454 listed companies under it. Among them, Petroleum and Natural Gas Group Co., Ltd., Sinopec Group Co., Ltd., China National Offshore Oil Corporation, National Petroleum and Natural Gas Pipeline Group Co., Ltd., Sinochem Holdings Co., Ltd., China National Chemical Engineering Group Co., Ltd., Seven central enterprises including China Aviation Fuel Group Co., Ltd. have more than 40 listed companies under their umbrella.
In the first half of the year, news of acquisitions of listed companies in the chemical industry continued. On February 15, Haohua Technology, a listed company of Sinochem Holdings, announced that it plans to issue shares to purchase 100% equity of Sinochem Lantian. The in-depth integration of business has created a fluorine chemical industry chain led by high-end fluorine materials, making the company a leading domestic and world-class high-end fluorine material supplier with a complete industry chain.
On April 24, Quanyin Hi-Tech, also a listed company of Sinochem Holdings, announced that it plans to use the raised funds of 224 million yuan to acquire 67.90% of the shares of New Era. After the transaction is completed, New Era will become the company's holding subsidiary. In the same month, Xiahuajin Co., Ltd. of China Ordnance Industry Group Co., Ltd. planned to establish a joint venture company with Zhenhua Oil and Linggang Industry to build a crude oil storage project with a registered capital of 586 million yuan.
On June 3, Jiangnan Chemical Industry Co., Ltd., a subsidiary of China Ordnance Industry Group Co., Ltd., announced that the company's 470 million yuan acquisition of 94.39% equity in Jiangxing Minbang had completed the transfer procedures and related industrial and commercial change registration procedures. Jiangnan Chemical said that the merger will increase the company's asset scale and enhance its ability to resist risks. It is worth mentioning that Jiangnan Chemical has completed two asset acquisitions in the first half of the year, and both acquisitions took less than two months. In April this year, Jiangnan Chemical increased the company's industrial explosives production capacity by 78,000 tons per year through the acquisition of Northern Civil Explosives, accounting for 18.96% of the company's existing industrial explosives production capacity. The target company's transaction amount was 540 million yuan.
It is reported that reorganization and integration can fundamentally reduce repeated investment and homogeneous competition, improve resource allocation efficiency, and realize business refinement and strength. Industry insiders pointed out that the reorganization and acquisition of listed companies can vigorously promote the internal professional integration of central enterprises and local state-owned enterprises, and realize "one enterprise, one enterprise, one enterprise, one enterprise" through the integration of corresponding industries, improve the concentration of enterprises, and strengthen intensification manage. On the other hand, to vigorously promote the integration of industrialization, we must base ourselves on promoting the development of strategic emerging industries, not only within the central enterprises and state-owned enterprises, but also break through the existing fields, open our hands to all kinds of ownership enterprises in the whole society, and use the market Equity cooperation in a modernized way to jointly promote the development of the country's modern industry. (Luo Iowa)
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