On January 29, the State-owned Assets Supervision and Administration Commission (SASAC) stated that on the basis of the early pilot exploration and accumulation of experience, it will comprehensively promote the market value management assessment of listed companies of central enterprises, guide enterprises to pay more attention to the intrinsic value and market performance of listed companies, convey confidence, stabilize expectations, and better return investors.
The market value management of listed companies of central enterprises will be fully rolled out, and the reform of state-owned enterprises will continue to deepen On January 29, the State-owned Assets Supervision and Administration Commission said that in 2024, it will fully implement the "one enterprise and one policy" assessment for ** enterprises. On the basis of the early pilot exploration and accumulation of experience, we will comprehensively promote the market value management assessment of listed companies, quantitatively evaluate the market performance of listed companies controlled by ** enterprises, objectively evaluate the measures and effectiveness of enterprise market value management, and strengthen punishment for violations that step on the red line and cross the bottom line.
According to the data of the State-owned Assets Supervision and Administration Commission, as of the end of 2023, the market value of listed companies controlled by central enterprises in China reached 135 trillion yuan. **The company will achieve operating income of 39 in 20238 trillion yuan (yoy+0..)5%), total profit 26 trillion yuan (the same as in 2022), and the net profit attributable to the parent company is 11 trillion yuan. From the requirements of "one profit and five rates" on the quality of enterprise operation to the assessment of the market value management of central enterprises, it marks the further deepening of the reform of state-owned enterprises. In the future, the implementation of the market value management goal will help further enhance the intrinsic value of state-owned central enterprises, accelerate the optimization and structural adjustment of the state-owned economy, and promote the state-owned capital and state-owned enterprises to become stronger, better and bigger. Since the 20th National Congress of the Communist Party of China, state-owned central enterprises will play the role of digital China, the "pillar" and "ballast stone" of science and technology self-reliance, and key words such as "self-reliance and self-improvement in science and technology", "chain security and stability", and solving the problem of foreign "stuck neck" have been highlighted in many important meetings.
On August 1, 2023, the 15th issue of Qiushi magazine published an important article by the chairman of the company, "Strengthening Basic Research to Achieve High-level Scientific and Technological Self-reliance and Self-reliance". In May 2023, ** Finance and Economics Committee Meeting: Grasp the wave of new scientific and technological revolution such as artificial intelligence, and efficiently gather global innovation elements.
In January 2024, the State-owned Assets Supervision and Administration Commission (SASAC) will accelerate the cultivation of innovative state-owned enterprises and strive to rely on technological innovation to open up new fields and new tracks for development. Considering the dominant position and continuous investment of state-owned central enterprises in strategic emerging industries, their leading role in scientific and technological self-reliance and self-improvement has been gradually strengthened. In 2023, the central enterprises will complete the investment in strategic emerging industries218 trillion yuan, +32 year-on-year1%；R&D investment 11 trillion yuan, breaking one trillion yuan for two consecutive years. State-owned central enterprises have strong growth resilience, deepening reform to open up growth space, driven by the new round of state-owned enterprise reform and deepening and upgrading actions, the restructuring and integration of state-owned central enterprises is expected to accelerate in 2024. We believe that state-owned central enterprises are expected to usher in an increase in performance and valuation by deeply serving the national economic and technological strategies, superimposed on the follow-up valuation and the optimization of the "one profit and five rates" assessment. Among them, China Electronics, China Electronics Technology, Aerospace Science and Technology, and Aerospace Science and Industry are the "main forces" of China's digital industry, with asset rates of 79% (2023Q%(2023Q%(2023H%(2022H1), respectively, which is expected to open up long-term growth space through specialization and strategic integration.
Investment Advice:
CETC: CETC: CETC Digital, Taiji Co., Ltd., CETC Network Security, CETC Chip, RICE Information, Hikvision, Guorui Technology, Dongfang Communications, Putian Technology, etc.;
China Electronics: China Software, China Great Wall, Shensangda, Qianxin, Huada Jiutian, Montage Technology, etc.;
Other central enterprises: Aerospace Information, Yunsai Zhilian, Baoxin Software, Yihualu, Changshan Beiming, Xiangyou Technology, Aerospace Software, COSCO Shipping Technology, Qiming Information, State Grid Information and Communications, etc.
Risk Warning:
The market is risky, and investors need to be cautious. Shanghai Huizheng Financial Consultant is an investment consulting company approved by the China Securities Regulatory Commission, with a unified credit code of 91310107MA1G0KQW5N. This article is for investor education purposes only and does not constitute any investment advice, and investors act accordingly at their own risk. The information referred to in this article is accurate and reliable, but does not make any guarantee for its accuracy, completeness and timeliness, and does not assume any responsibility for all losses caused by investors' investment based on it.