On December 28, Cssc Science & Technology Co.Ltd(600072) and China Shipbuilding Industry Group Power Co.Ltd(600482) two listed companies under China Cssc Holdings Limited(600150) group issued major asset restructuring announcements respectively. Among them, Cssc Science & Technology Co.Ltd(600072) is proposed to be placed in the wind power related assets of China Cssc Holdings Limited(600150) group, while China Shipbuilding Industry Group Power Co.Ltd(600482) will promote the integration of diesel engine business, and China Cssc Holdings Limited(600150) simultaneously disclosed relevant announcements. Another listed company of China Cssc Holdings Limited(600150) group China Cssc Holdings Limited(600150) also issued relevant suggestive announcements on planning foreign investment and related party transactions.
China Cssc Holdings Limited(600150) group came from the merger and reorganization of "North South ship", which is called "China divine ship" by investors. Since December, Cssc Offshore & Marine Engineering (Group) Company Limited(600685) , China Marine Information Electronics Company Limited(600764) , China Shipbuilding Industry Group Power Co.Ltd(600482) and other Chinese shipping stocks have risen in varying degrees. Zhang Chao, chief analyst of the military industry of AVIC securities, believes that 2022 is the last year of the three-year action plan for the reform of state-owned enterprises. All military groups have proposed to accelerate the implementation of the three-year action reform task, and improving the asset securitization rate is one of the key tasks. Recently, the reform of military industry groups and asset securitization have begun to speed up.
wind power assets to be placed in the group
Cssc Science & Technology Co.Ltd(600072) announced on the 28th that the indirect controlling shareholder China Cssc Holdings Limited(600150) group is currently planning major events related to the company, which is expected to involve the issuance of shares to purchase 100% equity of CSSC haizhuang, 88.58% equity of CSSC wind power development, 100% equity of Xinjiang Haiwei, 44.64% minority equity of Luoyang Shuangrui and 10% minority equity of lingjiu electric, and plans to raise supporting funds. The trading of the company's shares has been suspended since December 29, and the suspension is expected to be no more than 10 trading days.
Source: Cssc Science & Technology Co.Ltd(600072) announcement
The goal of Cssc Science & Technology Co.Ltd(600072) is to build a diversified development and listing platform for China Cssc Holdings Limited(600150) group's high-tech Shenzhen New Industries Biomedical Engineering Co.Ltd(300832) . At present, the company's main business is still extended on the basis of ship and sea business, which is based on the engineering design, general contracting and other businesses of the wholly-owned subsidiary China shipbuilding No. 9 Institute and the marine equipment business of the wholly-owned subsidiary China Shipbuilding Huahai.
In August 2019, Cssc Science & Technology Co.Ltd(600072) planned to acquire 100% equity of the controlling shareholder's Haiying group with RMB 2.11 billion to inject the development, production and sales of underwater acoustic detection equipment and various electronic equipment. However, due to the doubt of the target's sustainable profitability, the reorganization was rejected by the CSRC in November of that year.
According to the information on the official website, Cssc Science & Technology Co.Ltd(600072) among the wind power assets to be placed this time, CSSC haizhuang was established in January 2004. It is a high-tech enterprise specializing in wind power equipment system integration design and manufacturing, wind farm engineering services and new energy system integration services. It is one of the top five wind power complete machine manufacturers in China and the top ten onshore wind power complete machine manufacturers in the world.
CSSC wind power development is a specialized wind power investment, development and operation company specially established by China Cssc Holdings Limited(600150) group to implement the decision and deployment of carbon peak and carbon neutralization. The registered capital of the first phase is 1.5 billion yuan, and the installed capacity of the wind farm has been developed and invested successively, with an installed capacity of nearly 3 million KW.
promote diesel engine business integration
China Shipbuilding Industry Group Power Co.Ltd(600482) announced on the same day that China Cssc Holdings Limited(600150) group is planning to jointly invest in the establishment of a joint venture between the company, China shipbuilding industry group and the listed company China Cssc Holdings Limited(600150) . The underlying assets used for capital contribution are the stock rights of China Shipbuilding Power Group, China Shipbuilding diesel, Shaanxi Diesel heavy industry and hechai heavy industry held by all parties to the transaction.
Upon completion of the transaction, China Shipbuilding Industry Group Power Co.Ltd(600482) will hold a controlling interest in the joint venture. The transaction is expected to constitute a major asset reorganization of the company. The company plans to announce the reorganization plan before January 12, 2022.
In terms of equity structure, Tianyan survey shows that China Shipbuilding diesel and Shaanxi diesel heavy industry are wholly-owned subsidiaries of China Shipbuilding Industry Group Power Co.Ltd(600482) , hechai diesel heavy industry holds 98.26% by China Shipbuilding Industry Group Power Co.Ltd(600482) , China Shipbuilding Power Group holds 63.77% by China Cssc Holdings Limited(600150) , and China shipbuilding industry group holds 36.23%.
As the capital operation platform of CSIC's power business, in 2019, China Shipbuilding Industry Group Power Co.Ltd(600482) acquired minority interests in 7 companies such as China Shipbuilding diesel, Shaanxi diesel heavy industry and hechai heavy industry for more than 10 billion yuan. China Shipbuilding Industry Group Power Co.Ltd(600482) said that the above restructuring is to eliminate the potential horizontal competition between CSIC and its diesel engine business, so as to further promote the integration of the company's internal medium and high-speed diesel engine business.
The establishment of the joint venture means that China Cssc Holdings Limited(600150) group will further promote the integration of power assets after the merger of "North South ship".
accelerated asset integration of military industry group
Since the official announcement and merger of "North South ship" in 2019, the progress of its capital operation has always been the focus of the market.
On July 2 this year, nine Chinese shipping companies, including Cssc Science & Technology Co.Ltd(600072) and China Shipbuilding Industry Group Power Co.Ltd(600482) , announced that China Cssc Holdings Limited(600150) group will become the indirect controlling shareholder of the company because the SASAC of the State Council transferred all the equity of its controlling shareholder to China Cssc Holdings Limited(600150) group free of charge. The market expects that the asset integration of China Cssc Holdings Limited(600150) group is expected to speed up.
According to the announcement on July 2, China Cssc Holdings Limited(600150) group will integrate the advantageous resources of China shipbuilding industry group and China Shipbuilding Heavy Industry Group in the future, focus on the development of marine defense equipment industry, marine engineering equipment industry, science and technology application industry and marine service industry, and build a world-class ship group with reasonable industrial structure, leading quality and efficiency, prominent military core and strong international competitiveness.
China Cssc Holdings Limited(600150) listed companies of the group
In addition to China Cssc Holdings Limited(600150) group, several military industrial groups have recently accelerated their asset restructuring and ignited market enthusiasm.
On December 3, Yunnan Xiyi Industrial Co.Ltd(002265) disclosed the reorganization plan. The company plans to purchase 100% equity of Chongqing construction industry group from ordnance equipment group. Since the resumption of trading on December 6, Yunnan Xiyi Industrial Co.Ltd(002265) has closed 13 "one" price limit boards.
On September 21, Phenix Optical Company Limited(600071) announced that it plans to purchase part or all of the equity of Guosheng electronics and Puxing electronics held by shareholders such as CETC semiconductor materials Co., Ltd. by issuing shares. The two companies are mainly engaged in the R & D, production and sales of semiconductor epitaxial materials. After the opening on September 30, Phenix Optical Company Limited(600071) harvested 10 "one" trading boards.
The asset integration of China Cssc Holdings Limited(600150) group is accelerated! These two plates are involved
CSCEC's asset integration involves two major businesses: wind power and diesel engine
(China Securities Journal)
