CICC believes that the State Assets Administration Commission's research on incorporating market value management into performance assessments is expected to implement the operational quality improvement of central state-owned enterprises under the “one profit and five rate” framework to the performance of the capital market, and guide enterprises to convey confidence and stabilize expectations through market-based methods such as increasing holdings, repurchases, incentives, and increasing dividends, opening up a path of fundamental improvements to corporate valuation increases, and is expected to catalyze sector valuation repair.
According to media reports, on the morning of February 1, the 2024 Shanghai State-owned State-owned Enterprises Reform and Development and Party Building Work Conference was held. In 2024, Shanghai state-owned state-owned enterprises will take state-owned enterprise reform and deepening and upgrading actions as the main line, deepening improvement in strengthening value creation, focusing on promoting high-quality development of the state-owned economy, highlighting high-quality steady growth, value creation orientation, the value of listed companies, and the quality and efficiency of financial service entities, and creating a model for a high-level cycle of technology, industry, and finance. Meanwhile, on January 31, the Beijing State-owned Enterprise Reform and Deepening Upgrading Action Mobilization and Deployment Conference and the 2024 Municipal State-owned Assets Administration Commission System Work Conference were held. Regarding actions to reform, deepen and upgrade state-owned enterprises, the conference called for raising political standing and making every effort to ensure the implementation of the various tasks of the deepening and upgrading action; focusing on key tasks and firmly grasping the key window period to accelerate reforms; and further strengthen implementation to comprehensively improve the accuracy and effectiveness of the reforms.
CICC believes that the State Assets Administration Commission's research on incorporating market value management into performance assessments is expected to implement the operational quality improvement of central state-owned enterprises under the “one profit and five rate” framework to the performance of the capital market, and guide enterprises to convey confidence and stabilize expectations through market-based methods such as increasing holdings, repurchases, incentives, and increasing dividends, opening up a path of fundamental improvements to corporate valuation increases, and is expected to catalyze sector valuation repair.
According to the Finance Federation's theme library, among the relevant listed companies:
The ultimate controller of Huaxin Co., Ltd. is the Shanghai State-owned Assets Administration Commission. The company adheres to the core strategy of fintech leading business development and transformation, actively lays out potential businesses, adheres to the strategic strength of “leading technology and focusing on breakthroughs”, and gradually forms the style characteristics of a “technology-based brokerage firm”.
The actual controller of China Railway Assembly is the State Council's State-owned Assets Administration Commission. The company is the only high-tech innovative prefabricated construction business platform under China Railway, and is a leading domestic supplier and integrator of prefabricated building components.