After successively collecting a number of central enterprises under the control of the National Development and Investment Corporation (hereinafter referred to as "SDIC"), SDIC has been rushing to make an overall listing to accelerate progress. Yesterday, on the occasion of its 14th year of establishment, Wang Huisheng, secretary and president of the China National Investment Corporation’s party group, said in an exclusive interview with several media including the China Business News that the overall direction and confidence of SDIC in listing did not change, but only There are some adjustments in time.
Wang Huisheng disclosed to the CBN reporter that SDIC has now established the “three steps†for the listing of various sectors, the integration of related sectors, and the overall listing. The independent listing plan of Guotou Lobopot Potash Co., Ltd. (hereinafter referred to as "China National Lottery") that was already planned last year has not been affected by the overall listing of the parent company and is still in operation.
Collecting and hosting 6 central enterprises
As the SASAC has long established that the number of central SOEs will be reduced to 80 to 100 by the end of next year, the central SOEs have accelerated the pace of restructuring and consolidation. In April of this year, with the integration of China Electronics Engineering Design Institute and China National Complete Equipment Import & Export (Group) Corporation into SDIC and China Satellite Communications Corporation, China National Aerospace Corporation, the number of central enterprises has been reduced to 138.
The process of reducing the number of central enterprises is also a process in which SDIC has expanded its business segment and investment scale. Previously in October 2006 and November 2007, the Central Enterprise China Investment Guarantee Co., Ltd. and China Textile Materials (Group) Corporation were also merged into SDIC.
China National Packaging Corporation (CPC) was in bankruptcy, was out of business or was in a loss state, and its financial situation deteriorated. It began to be managed by SDIC from March 2005. In 2008, China High-Tech Group Investment Company also became a major investment company for its new high-tech copper. The crisis broke into trouble. Entrusted by the SASAC, SDIC began hosting China Hi-Tech in September of that year.
At this point, in the large-scale integrated operations of the central SOEs, SDIC has successively “secured†four central SOEs and hosted two central SOEs, forming the current “4+2†pattern. By the end of last year, SDIC’s financial statements showed that the company’s assets amounted to 175.8 billion yuan.
The incorporation of a number of central enterprises, so that SDIC's listed companies have also increased dramatically. Wang Huisheng stated that the SASAC has always supported the overall listing of central SOEs, and SDIC has also formulated detailed plans. "Although some difficulties encountered in the process of advancement have not affected the direction of SDIC's main business, SDIC's overall listing goals and information have not changed," said Wang Huisheng.
Three steps for overall listing
Wang Huisheng cited the current “three-step†plan for overall listing: First, it will implement the listing of various sectors; then it will speed up the integration of relevant sectors; and finally, it will achieve overall listing. "I refer to the overall listing is mainly our part of the industry, such as coal, electricity, Hong Kong, aviation business, which is the main business of SDIC, even to complete the SDIC's overall listing goals." Wang Huisheng said.
The promotion work is obviously not smooth. SDIC’s previous intention to integrate the already formed coal-fired companies listed on the company's initiatives was announced on February 27 this year by the announcement of two related listed companies.
SDIC’s power sector listed company SDIC Power Co., Ltd. [10.58 1.34%] (600886.SH) and the coal-plate listed company SDIC Xinji issued an announcement on December 8 last year, saying that the controlling shareholder National Development and Investment Corporation “is Plan for major unrepeated asset restructuring issues," suspended from December 9.
After suspending trading for more than two months, on February 27 this year, the two companies announced the suspension of this major restructuring. The announcement stated that due to the wide scope and large scale of the assets to be involved in the reorganization plan, involving complicated procedures, although SDIC had communicated with the relevant parties during the suspension of the company's stock, it was still unable to complete the necessary reorganization plans. Essentials. The company also stated that it will no longer plan major asset reorganizations within at least three months from the date of resumption.
Wang Huisheng admits that the integration and restructuring of the relevant sectors have encountered difficulties. “Involving all aspects of the work, it has not formed a concerted action, so it has not been successfully integrated.†However, Wang Huisheng still has full confidence. “Because this does not affect our business direction, we also It will continue to advance in various ways. It will only adjust in style and time."
This method is the "three steps" proposed by Wang Huisheng. In this way, the listed companies in each sector will remain independent for a considerable period of time. With the incorporation of several central SOEs, SDIC has added more Chinese textile investment [4.95 1.23%] (600061.SH) and Zhongcheng shares [8.63 3.98%] (000151.SZ), etc. Wang Huisheng said that these Companies should consider development based on the overall strategy of the company and the role of each listed company in the overall strategy. Related plans are also being studied.
In December last year, the world’s largest potash fertilizer base invested by SDIC was completed and put into production in Lop Nor, Xinjiang, and Guotou Luoka also reported that it will be listed separately in China. Yesterday, a high-level national investment Luo potassium told CBN reporter that the listing of Guotou Petrochemical Potassium does not affect the overall listing of the National Investment Corporation.
“The potash fertilizer business is included in the overall listing of SDIC, but SDIC is required to create a listed company for each plate and then integrate it. At present, there are no listed companies in potash fertilizer and port and shipping business, so SDIC It is also necessary to have Luo potassium listed separately,†said the top official.
After years of exploration, SDIC has formed a “three pillars†business framework for industrial, financial services, and state-owned asset management businesses. Wang Huisheng said that in the future, it will accelerate financial investment, seize opportunities in securities, insurance and futures brokerage companies, and continue to improve the SDIC’s financial investment platform.
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