2023 is a critical year for the reform of state-owned enterprises, and the reform of state-owned enterprises is in full swing. The China Securities Regulatory Commission announced that it will increase its efforts to support the reform of state-owned enterprises and the development and growth of the private economy. **The Economic Work Conference put forward the key tasks of deepening the implementation of the reform of state-owned enterprises in order to enhance core functions and improve core competitiveness. In this context, the concept of state-owned enterprise reform stocks has set off a tide of price limits, and frequently launched mergers and acquisitions in the secondary market. This article will describe in detail the rally of state-owned enterprise reform concept stocks.
The launch of the reform of state-owned enterprises has made the concept of state-owned enterprise reform stocks a hot spot in the market. Enterprises under the State-owned Assets Supervision and Administration Commission in various places have risen to the limit. For example, Zhongguang Tianxue, a full-scale content provider under the Changsha State-owned Assets Supervision and Administration Commission, has a daily limit for 19 consecutive days, and Nanning Department Store and Shanghai Jianke have also achieved continuous daily limits. Yinfei Storage, a subsidiary of Jingdezhen State-owned Assets Supervision and Administration Commission, has a daily limit for 4 consecutive days, and Yunwei Shares, a subsidiary of Yunnan Energy Investment Group, a subsidiary of Yunnan State-owned Assets Supervision and Administration Commission, has also recorded a continuous daily limit. The rally of these SOE reform stocks shows that the market is optimistic about the SOE reform action.
The promotion of a new round of state-owned enterprise reform will inevitably be accompanied by the demand for the restructuring and integration of state-owned enterprises. Many listed companies controlled by state-owned enterprises have initiated mergers and acquisitions, and their stock prices have also performed accordingly. For example, Nanjing Business Travel and Nanjing Public Utilities have achieved continuous daily limits respectively due to asset restructuring. In addition, Nanjing Port and Huihong Group also continued to rise and fall. The emergence of these restructuring cases reflects the initiation of the reform and upgrading of state-owned enterprises, and indicates the deepening of the restructuring and integration of state-owned enterprises in the future.
According to wind data, since the beginning of this year, more than 90 state-owned listed companies have announced major restructuring events. Companies that have completed more than RMB10 billion in asset injection plans include Yangtze Power, AVIC Airborne, Qilianshan, Lujiazui, Energy Conservation Environment and Guangdong Hydropower. In addition, companies that have completed more than 3 billion asset injection plans also include China Shipbuilding Technology, Beijing Human Resources, Gansu Energy Chemical, C&D Co., Ltd., YIPLI, Zhongyuan Environmental Protection, Sichuan Investment Energy, Zhuye Group, China Porcelain Electronics, Aerospace Intelligent Manufacturing, etc. In addition, major asset restructuring cases that are still in progress include AVIC, Dalian Thermal Power, Yantian Port, Haohua Technology and Zhongzhi Co., Ltd.
1. China Avionics Survey
AVIC is a subsidiary of Aviation Industry Corporation of China, mainly engaged in military and civilian intelligent measurement and control products and system solutions. According to the company's announcement, AVIC plans to purchase 100% of the shares of Aviation Industry Chengfei held by AVIC Group through the issuance of shares. The transaction has been approved by industry authorities. After the completion of the transaction, AVIC Chengfei will become a wholly-owned subsidiary of the company, and the company will add the development and production of aviation equipment and components and focus on the main aviation business.
2. Dalian Thermal Power
Dalian Thermal Power mainly provides steam (warming) products to urban residents, enterprises and institutions and power products to the power sector. According to the company's announcement, through the purchase of 100% equity of Kanghui New Materials through major assets and the issuance of shares, Kanghui New Materials has become the only one in China.
1. The second company in the world that can produce and develop 12-micron lithium battery process protective film products. This transaction made Dalian Thermal Power's share price continue to rise and fall.
3. Yantian Port
The main business of Yantian Port is port investment, development and operation. The company intends to buy 100% of the shares of the port operating company from Shenzhen Port Group, and the transaction is 1001.5 billion yuan. The transaction was well received by the share price of Yantian Port. According to Huaan**'s research report, if the transaction is successfully completed in the first half of 2023, Yantian Port will acquire a 35% stake in Yantian Port Central Port Area 3, which is expected to bring about 3700 million and 7800 million yuan of pre-tax profit.
The rise of state-owned enterprise reform concept stocks is like a tide, and the restructuring and integration of state-owned enterprises has become the highlight. At present, a number of state-owned listed companies have completed major asset restructuring plans. Among them, the restructuring cases of companies such as AVIC, Dalian Thermal Power and Yantian Port have attracted much attention. The emergence of these major asset restructuring cases shows that the reform of state-owned enterprises has been launched, and the market has high expectations for the reform of state-owned enterprises. It is believed that with the deepening of the reform of state-owned enterprises, more cases of state-owned enterprise restructuring will appear one after another, which will further promote the development of state-owned enterprise reform concept stocks and guide investment enthusiasm in the secondary market.