specialization of central enterprisesreorganizationAdd a new case, this time the protagonists are two listed companies——AVICwill absorbAVIC Electromechanical. On the 26th, the stock prices of the two companies rose sharply, and the intraday limit was reached.
On the evening of May 26,AVICandAVIC ElectromechanicalPublished at the same timeSuspensionannouncementin order to reorganize and form an important airborne system listing platform in the aviation industry and accelerate the development of airborne system business,AVIC ElectromechanicalandAVICIt is being planned that the latter will pass the whole of the formershareholderThe method of issuing A shares is to exchange shares to absorb and merge AVIC, and issue A shares to raise supporting funds. This transaction constitutes a major asset reorganization and related transaction, and the actual controllers of the two companies have not changed.
If this reorganization is completed, it will form the only airborne system listing platform, and a new 100 billion level will be born.Military industrylisted companies, andMilitary industryThe group may gradually land itsSOE reformProgram.
Build a professional platform for avionics systems
As the absorber of this major asset reorganization, AVIC is a professional integration and industrialization development platform for avionics systems under the Aviation Industry Group. It relies on its 10 holding subsidiaries to carry out production and business activities. Its business areas cover defense aviation and civil aviation. , three major areas of advanced manufacturing.
In 2018, Aviation Industry Airborne Systems Co., Ltd. was established, and its affiliated 14 enterprises and institutions were entrusted by AVIC Electronics, including 5 key scientific research institutes.
The absorbed party AVIC Electromechanical is a leader in the aviation electromechanical industry. Benefiting from the demand for upgrading domestic equipment during the “14th Five-Year Plan”, the core main business of aviation productsperformanceContinued growth.In recent years, the company has also made frequent moves, such as the spin-off of Guihang in 2019motor, acquired Nanjing Hangjian to coordinate the maintenance capabilities and resources of various subsidiaries; increased capital and invested in Hongguang Airborne Equipment to improve the company’s aviation electromechanical business industry chain. In 2020, Qing’an Company, a subsidiary of the company, plans to reorganize the controlled Qing’an Refrigeration and Electromechanical Sanyo. After the reorganization, Qing’an Refrigeration will no longer be included in the scope of Qing’an Group’s consolidated statements.
The market has already expected the capital operation of AVIC
AVIC is a professional integration and industrialization development platform for avionics systems under the Aviation Industry Group, and the market has already expected its capital operation space.
in order to implementSOE reformThree years of action to promote the deepening of the company’s reform, AVIC has carried out a number of reforms in recent years.
First of all, the company has formulated the “14th Five-Year” capital operation plan of AVIC. The plan clearly formulates the capital operation principles, tools, ideas and specific plans for the substantive operation of the division and the capitalization operation of AVIC Electronics. leapfrog development.
Second, promote the mixed-ownership reform of the holding subsidiary Kaitian Electronics.asSOE reformKaitian Electronics, a pilot subsidiary of the “Science and Technology Reform Demonstration Action”, has formulated core employee shareholding, introduction of strategic investors, capital increase by original shareholders and state-owned The reform of mixed ownership has been carried out in various ways, such as the combination of exclusive capital reserves and conversion, and substantial progress has been made.
Finally, AVIC Airborne Systems Co., Ltd. was included in the “Double Hundred Actions” of the State-owned Assets Supervision and Administration Commission of the State Council for the reform of state-owned enterprises, accelerating the integration of the industrial chain and the reform of mixed ownership.
Tianfeng SecuritiesIt is believed that the company has room for capital operation. With the acceleration of the reform of state-owned enterprises, it is expected to benefit from the professional integration of the airborne system platform.
The reform of state-owned enterprises will be staged one after another
Recently, the State-owned Assets Supervision and Administration Commission (SASAC) held a special promotion meeting on “deepening the reform of state-owned listed companies and striving to be a model for state-owned enterprise reform in three years”. The three-year reform of state-owned enterprises, operating in accordance with laws and regulations, and promoting the healthy and stable development of the capital market are striving to set an example.
“The three-year action for the reform of state-owned enterprises has put forward clear requirements for deepening the reform of state-owned listed companies.” Weng Jieming said at the meeting that to deepen the reform of state-owned listed companies, we must strengthen and refine the main responsibility and main business, and achieve clear ownership of the sector; adjust and optimize equity structure, and play the role of active shareholders; improve the corporate governance mechanism, select and make good use of independent directors; strengthen and enrich positive incentives to stimulate the vitality of endogenous power; strengthen internal skills, lay a solid foundation, and enhance expectations for value guidance.
Many state-owned listed companies have announced plans to increase their holdings,repo、Equity incentiveetc. plan.
With the “14th Five-Year Plan” domestic productionbig aeroplaneWith the acceleration of the project, the avionics system industry has ushered in a period of rapid development.
(Article source: Shanghaisecuritiesnewspaper)