China Shenchuan and other state-owned oil and gas pipeline networks may land

On July 8, SASASAC of the State Council announced that China Poly Group Limited and China Central Silk Group Limited were restructured. China Central Silk Group Limited was transferred to China Poly Group Limited as a whole free of charge and no longer directly supervised by SASASAC. So far, the number of central enterprises supervised by SASASAC has been changed from 97 to 96. Since this year, there has been a tide of reorganization and integration of state-owned enterprises, and three major paths have emerged. The second half of the year is expected to be staged one after another. The military industry is expected to usher in a new round of reorganization and integration, and the integration trend of central enterprises to local state-owned enterprises is also increasing. China Silk Group Co., Ltd. is the only central enterprise group with silk as its main industry under the direct supervision of SASASAC of the State Council. The consolidated financial statements for 2016 issued by the Audit Office show that the group has 36 wholly-owned and holding subsidiaries at the end of 2016; total assets are 5.2 billion yuan, total liabilities are 5.571 billion yuan, owner's equity is 129 million yuan, asset-liability ratio is 97.51%; total operating income is 9.332 billion yuan, total profit is 50.0473 million yuan, net profit is 88.775 million yuan. The return on net assets is 5.56% and the preservation and appreciation rate of state-owned capital is 38.91%.

China Poly Group Co., Ltd. was established in 1992 with the approval of the State Council and the Central Military Commission. At present, it has developed into a major industry with international trade, real estate development, R&D and engineering services in light industry, raw materials and products management services, cultural and artistic management, production and marketing of civil explosives and services, and financial services. Exhibition pattern. In 2018, business income exceeded 300 billion yuan and total profit exceeded 40 billion yuan. By the end of 2018, the total assets of the group exceeded trillion yuan, ranking 312th among the world's top 500. At present, China Poly Group has 11 major secondary subsidiaries, more than 90,000 employees, and five listed companies at home and abroad, namely: Poly Development Holding Group Co., Ltd., Poly Purchase Group Co., Ltd., Poly Culture Group Co., Ltd., Guizhou Jiulian Explosive Materials Development Co., Ltd. China Haicheng Engineering Technology Co., Ltd.

It is understood that as early as August 2017, Poly Group restructured with Light and Light Industry Group and Technological Group, and managed the Group, established the Management Committee of the Group, restructured the company at the group level, carried out special checks on 38 subsidiary companies affiliated to its headquarters, and gradually reduced the capital occupation and profits. Businesses with weak capabilities will "shut down and merge" those with low efficiency and inefficiency, long-term losses and hopeless losses. Zhou Lisa, a researcher at the SASASAC Research Center under the State Council, said in an interview with the Economic Reference Daily that Poly Group, as a pilot state-owned capital investment company, has the function of industrial integration and agglomeration. Its annexation of China Silk Group is a typical way of "big" annexation of "small", aiming at passing through it. Industrial chain restructuring, improve operational efficiency, business resources to achieve synergy, sharing, China Silk Group, this relatively difficult enterprise follow-up also has support and driving role. Under the background of deepening supply-side structural reform, state-owned enterprises have been accelerating their layout optimization through mergers and acquisitions since 2019. On July 1, the collective disclosure announcement of eight listed companies of "North-South Ship" said that on July 1, the company received notification from controlling shareholders and actual controllers that China Shipping Heavy Industry Group Co., Ltd. (commonly known as "North Ship") was planning a strategic restructuring with China Shipping Industry Group Co., Ltd. (commonly known as "South Ship"), and the relevant plan has not yet been confirmed. It is also decided that the plan should be approved by the competent authorities concerned. For a time, the expectation of capital market for the merger and reorganization of central enterprises, especially the strategic reorganization, has risen again.

Marine equipment, which is closely related to the shipping industry, is also closely promoting the integration of resources. China Chengtong official news shows that Guohai Haiwage Property Management Co., Ltd. officially unveiled on April 24. This is China Chengtong and China National Offshore Oil Co., Ltd. as the leading units, jointly set up five central enterprises of marine equipment manufacturing, which will give full play to their overall and professional advantages. We will promote complementary high-quality resources from all sides, enhance our voice in the marine equipment market, ensure the quality and value of marine products, and realize industrial restructuring and layout optimization.

In addition to the reorganization and integration between central and local enterprises, mergers and acquisitions and reorganization between central and local state-owned enterprises have occurred frequently in recent years. Several listed companies have announced that they intend to carry out mergers and acquisitions and reorganization with central enterprises. On June 27, Maanshan Iron and Steel Co. announced that the company had recently received the approval of the State-owned Assets Management Commission of the State Council on the transfer of state-owned shares of Maanshan Iron and Steel (Group) Holding Company Limited, which was transferred by Maanshan Iron and Steel Group. The State-owned Assets Management Commission of the State Council agreed to the transfer. According to the plan, Anhui SASASAC will transfer 51% of the shares of Ma Steel Group to Baowu, China, free of charge. The latest data from the Shanghai Stock Exchange show that the state-owned enterprises in Shanghai have actively integrated their superior production capacity through mergers and acquisitions since this year, and their governance structure and asset quality have been further optimized to create a number of leading listing platforms. In the first half of 2019, the state-owned enterprises in Shanghai Stock Exchange conducted 225 mergers and acquisitions, with a total transaction value of about 240 billion yuan. Among them, 24 major asset restructuring plans were disclosed, involving nearly 100 billion yuan of transaction value; 11 major asset restructuring plans were implemented, involving 66 billion yuan of transaction value.