Textile Industry Mergers And Acquisitions Integration Pformation And Innovation Usher In A New Peak

< p > with the growing clarity of the "roadmap for state-owned enterprise reform", the "reform craze" has emerged again in various industries, and the development of mixed ownership economy is the key to deepening the reform of state-owned enterprises.

The industry of a target= "_blank" href= "http://www.91se91.com/" > textile < /a > is still facing the test of fundamental improvement in 2014. The reform of state-owned enterprises in full swing will enhance the profitability of state-owned assets in the short term. In the long run, the merger and pformation of textile industry will usher in a new peak. This strong reform will greatly enhance the value of these enterprises.

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< p > with the growing clarity of the "roadmap for state-owned enterprise reform", the "reform craze" has emerged again in various industries, and the development of mixed ownership economy is the key to deepening the reform of state-owned enterprises.

For the textile industry, its market competition is relatively high, but due to historical problems, state-owned textile enterprises everywhere are facing reform challenges.

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< p > statistics show that there are 16 central enterprises and local state-owned enterprises in the listed textile companies at present. The total market value of state-owned enterprises accounts for about 16% of the total market value of the entire textile < a target= "_blank" href= "http://www.91se91.com/" > clothing > /a > plate.

From the perspective of sub sectors, enterprises in the background of state-owned enterprises are mainly concentrated in processing and manufacturing sectors, of which 6 are cotton spinning companies, 2 are wool textile companies, and the garments are a target= "_blank" href= "http://www.91se91.com/" > clothing < /a > manufacturing companies 4.

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< p > although most of these textile enterprises perform well in the capital market and have abundant resources, their operating efficiency is declining.

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< p > in addition to the enterprises belonging to the China military group (601718) belonging to the military industry, the other 15 companies are generally competitive enterprises. The enterprise system is generally malpractice, the industry chain is not smooth, performance loss, and even ST risk exists.

Similarly, this dynamic reform will greatly enhance the value of these enterprises.

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< p > < strong > shooting the first shot < /strong > /p >

< p > < strong > Shanghai first grasps "good platform" < /strong > /p >

< p > in this round of reform of state-owned assets, Shanghai, because of its financial center status and the huge volume and assets owned by state-owned enterprises, has fired the "first shot" of the reform of state-owned assets.

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< p > December 17, 2013, Shanghai deepened the reform of state owned assets and promoted the development of enterprises. The working conference formally promulgated the opinions on further deepening the reform of state owned assets in Shanghai and promoting the development of enterprises.

According to the planning of Shanghai SASAC, this year will focus on the industrial chain, value chain and functional chain, strengthen vertical integration and horizontal linkage, promote the diversification of property rights of competitive enterprises, introduce competitive business of functional and public service enterprises into strategic investors, and explore franchising in the public service industry.

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< p > Shanghai is the most concentrated area of state-owned textile enterprises. There are 4 listed companies, namely, Sanmao (600689), leading shares (600630), Shenda shares (600626) and industrial enterprises (600272) in Shanghai.

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< p > in fact, relevant reform actions have been launched.

By the end of 2013, conch apparel, a wholly owned subsidiary of the leading stock company, intends to replace the 100% stake in the Ma Lu shirt factory and the 100% stake held by the Shenda group.

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< p > leading shares and Shenda shares are listed companies held by Shanghai textile (Group) Co., Ltd., and this asset replacement has also opened the prelude to the adjustment of Shanghai's textile state-owned enterprises.

According to Shanghai SASAC related personages, Shanghai textile will make good use of Shenda's "good platform" when formulating the group reform plan, so as to develop mixed ownership.

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< p > < strong > top-level design < /strong > < /p >

< p > < strong > giving full play to the pioneering role of capital < /strong > /p >

< p > under the guidance of national macro level, "enterprises change from managing people to managing capital" and "pforming single ownership into mixed ownership", the reform situation is not the same everywhere.

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< p > taking Shenzhen as an example, the core idea of its reform is "Refocusing" of business, that is, stripping off non main business and solving competition in the same industry, highlighting the main business of the group company, integrating the main business of a certain field into a leading enterprise and forming the sole listed group in a single industry.

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< p > serving as the pioneer of Shenzhen state owned assets reform is Shenzhen Investment Holdings Company Limited (hereinafter referred to as "Shenzhen investment control"). It is a state-owned asset management company which mainly focuses on property rights management, capital operation and investment and financing business.

In March 17th, Shenzhen Investment Holdings Company Limited intends to pfer shares of Shenzhen textile A (000045) 26%~29%. According to the announcement, Shenzhen's controlling share in the pfer is no less than 132 million shares and not higher than 147 million shares, and the pfer price is no less than the weighted average price of the first 30 trading days.

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The difference between the P and the "one step exit" of Shenzhen's state-owned assets is that Hunan's SASAC is holding on to the pformation and upgrading of enterprises.

Hua Sheng shares (600156), due to the poor performance of the main textile business for many years, under the guidance of the actual controller of the Hunan provincial SASAC, Hunan Huasheng Group, the largest shareholder of Huasheng Group, replaced the assets of the listed companies by the end of 2012, and placed 51% stake in the Hunan pharmaceutical exchange, pforming the high-end pharmaceutical equipment industry from the traditional textile industry.

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< p > thus, the loss of 26 million 410 thousand yuan in the medium term (600156) has achieved year-round results.

The company announced the announcement of the 2013 annual earnings increase in the evening of January 27th. It is estimated that the net profit attributable to shareholders of Listed Companies in 2013 will increase by 1570%~2050% compared with the same period last year.

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< p > < strong > clarify the goal of reform < /strong > /p >

< p > < strong > looking for investment "main melody" < /strong > /p >

< p > from the reform of state-owned textile enterprises, we can promote state-owned equity flows through restructuring and merging or asset injection, introducing strategic investors, withdrawal of state capital, and management and employee equity incentives, so as to give full play to the advantages of state-owned assets, so that state-owned enterprises can directly compete with private enterprises and give full play to their own initiative and creativity.

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< p > for the capital market, there are two main lines of investment in the theme of state-owned enterprise reform: first, the re discovery of platform value of listed companies of state-owned enterprises group. Under the premise of specialized reorganization and market-oriented operation, assets that are profitable and growing well will be listed or injected into the market companies separately, while stripping off other main businesses of listed companies will have a positive impact on the improvement of the market value and the function of financing, so as to maintain and increase the value of state-owned assets.

The two is the upgrading of state-owned enterprises from "big" to "strong".

We should promote the pformation of mature industries leading enterprises to strategic emerging industries, encourage state-owned enterprises to "go out" actively and accelerate the development of state-owned pnational corporations with strong international competitiveness.

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< p > but Chen Qingtai, the Standing Committee of the CPPCC National Committee, deputy director of the Economic Committee and President of China Association of listed companies, also pointed out that rushing to operate in the absence of clear institutional framework may create obstacles for subsequent reforms.

We should first clarify the objectives of reform, the system and mechanism to be established, design feasible plans, properly handle historical problems, conduct the necessary pilot projects, and then conduct large-scale actions to ensure that the reform is carried out actively and safely.

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< p > > a href= "http://www.91se91.com/news/index_c.asp" > textile industry < /a > still faces the test of fundamental improvement in 2014. The reform of state-owned enterprises in full swing will enhance the profitability of state-owned assets in the short term. In the long run, the merger and reorganization and pformation of textile industry will usher in a new peak.

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