此前中国电科与华录集团重组协议约定，中国电科将通过无偿受让产权划转的方式取得国务院国有资产监督管理委员会持有的华录集团约66.78%股权。交易后，中国电科将对原国资委下属企业华录集团形成单一控制权。① Xinhua News Agency reported today that with the approval of the State Council, China Telecom and Hualu Group have implemented a restructuring. Hualu Group has become a subsidiary of China Telecom Holdings and is no longer an enterprise that performs funder duties as the State Council's State-owned Assets Administration Commission. ② Analysts say that Hualu Group complements China's electronics business, and the restructuring will bring substantial benefits to Yi Hualu.
Financial News Agency, November 23 (Reporter Fu Jing) There is further news about the integration between China Hualu Group Co., Ltd. (“Hualu Group”), the actual controller of Yi Hualu (300212.SZ), and China Electronics Technology Group Co., Ltd. (“China Telecom”). According to a report by Xinhua News Agency this afternoon, with the approval of the State Council, China Telecom and Hualu Group implemented a restructuring. Hualu Group became a subsidiary of China Telecom Holdings and is no longer an enterprise that performs funder duties as the State Council's State-owned Assets Administration Commission.
A financial news agency reporter telephoned China Telecom about the news. Its staff said, “It's not easy to disclose specific business department matters.” Hualu Group, on the other hand, said, “We have not been notified.” Furthermore, in the afternoon, the reporter called Yi Hualu's landline of the securities department several times, but the line continued to be busy and unanswered. As of press release, Yi Hualu has not officially disclosed the relevant matters in the form of an announcement.
Earlier, it was agreed in the restructuring agreement between China Telecom and Hualu Group that China Telecom will obtain about 66.78% of Hualu Group's shares held by the State Council's State-owned Assets Supervision and Administration Commission through a free transfer of property rights. After the deal, China Telecom will form a single control over Hualu Group, a former subsidiary of the State Assets Administration Commission.
A person from Yi Hualu's securities department once told a reporter from the Financial Association, “What future benefits the company will have to do with the company still depends on the strategic position of Electronic Technology, based on its future strategy formulation.” Meanwhile, at the end of April this year, Yi Hualu executives stated to the outside world, “China Telecom ranked 8th among central enterprises. Hualu Group can form effective collaboration and complementarity in the industrial chain after integrating into the electronics industry. The digital economy infrastructure that Yi Hualu has laid out in recent years and the product technology that can be easily formed around data storage and management are also business areas that Telecom should vigorously develop. However, there is no clear plan for the future positioning of Yi Hualu.”
Some analysts told reporters that this restructuring will bring substantial benefits to Yi Hualu, the only listed company under the Hualu Group.
From the perspective of the two central enterprises, Pan He Lin, co-director and researcher at the Digital Economy and Finance Innovation Research Center at Zhejiang University's International Joint Business School, also told reporters that Hualu Group is actually a complement to the distribution of China's telecommunications business. Indeed, 1+1 is greater than 2. For example, for government customers, China Telecom will be able to provide more diverse equipment services. “In terms of specific business, Hualu Group was formed by joint investment by video recorder companies in its early years. Currently, its business mainly focuses on data lake construction and management, digital government, etc. Although it is client-oriented, it is still biased towards hardware and infrastructure as a whole, and this is quite compatible with China Telecom in terms of business attributes.”
According to public information, China Telecom's main business involves electronic equipment, network information systems, industrial infrastructure, network security, etc., and is an enterprise under the State Assets Administration Commission. It currently has more than 700 enterprises and institutions, including 17 listed companies, such as Taiji Co., Ltd. (002368.SZ), Hikvision (002415.SZ), Telecom Network Security (002268.SZ), Dongxin Peace (002017.SZ), and Oriental Communications (600776.SH) and other communication computer companies. The listed company controlled by Hualu Group is Yi Hualu. Its main business covers fields such as digital economy infrastructure, government and enterprise digitalization, and data operation services.
