981 million self-selling and selling! The story behind a central enterprise is still deep in Henan.

Core reading: A paper announcement by Luoyang Axis Technology reveals that China’s machinery industry’s “leading big brother” has integrated a big chess game in Henan, and it has once again brought the white pigeons of the first domestic listed company in Henan Province into public view. . Four years ago, the state-owned SINOMACH reorganized the white pigeons, but the road to marriage was quite tortuous, and the restructuring that carried the white pigeons was greatly reduced. Today, SINOMACH wants to incorporate SINOMACH, including the white pigeon, into its listed company's platform, Axis Research and Technology, which will realize the launch of the pigeon's curve. From the delisting to the listing, this dramatic turn can make the white pigeons fly high and leave enough suspense for the outside world.
On the evening of February 6, Luoyang Axis Technology Co., Ltd. (hereinafter referred to as “Xiangyan Technology”) announced that the company intends to issue shares to China Machinery Industry Group Co., Ltd. (hereinafter referred to as “SINOMACA”) and purchase it. Holding 100% equity of SINOMACH Seiko Co., Ltd. (hereinafter referred to as "National Machinery Seiko"), and issuing funds to no more than 10 specific investors including SINOMACH to raise funds, the total amount of funds raised shall not exceed 629 million yuan. The 100% equity transaction price of SINOMACH Seiko was 981 million yuan.
Axis Research Technology Co., Ltd. is also a listed company of SINOMACH. The central enterprise SINOMACH has been behind the integration of Henan assets. The twists and turns of Henan’s first listed company, “White Dove”, are hidden.
According to public information, SINOMACH is based on the stock resources of China National Machinery Industry International Cooperation Co., Ltd. and Zhengzhou Abrasives Grinding Research Institute Co., Ltd., and the reorganization of Baige Abrasives Co., Ltd. as an opportunity. Established a business development platform for industrial abrasives. SINOMACH completed its industrial and commercial registration on September 10, 2013 with a registered capital of 50 million yuan and is headquartered in Zhengzhou New Material Industry Cluster.
As a long-established enterprise in Henan, Baige is reappearing in the integration of assets of central enterprises.
As the white pigeon company built during the “First Five-Year Plan” period, the original factory name is China Second Grinding Wheel Factory (hereinafter referred to as Ersha), which is known as “Industry Aircraft Carrier” and has a history of more than 60 years.
In December 1993, Ersha was restructured to establish “White Pigeon (Group) Co., Ltd.” and listed on the Shenzhen Stock Exchange, becoming the first domestically listed company in Henan Province. At this time, the Dove Group has total assets of 1.924 billion yuan and more than 6,000 employees. "White Dove" brand products are not only sold well in domestic provinces, municipalities and autonomous regions, but also exported to more than 60 countries and regions in the world, with an annual foreign exchange earning of more than 20 million US dollars. Its holding company, Baige (Group) Co., Ltd., has become the largest comprehensive abrasives manufacturer in China and even in Asia.
However, the concept of the receptor system and the concept, the white pigeon company stranded. Although it has repeatedly explored restructuring and restructuring, there have been no results. In 2006, the smash hit (Yu Baige A) shares were retired.
Since then, the "White Dome Abrasives Co., Ltd." (now the white dove company), which was established with the assets and personnel of the original white pigeon listed company, has embarked on a long journey of change.
On November 21, 2012, the Zhengzhou Municipal Government and the State-owned Enterprise Guoji Group formally signed the Strategic Cooperation Framework Agreement on the strategic restructuring of Baige Company. On December 4, 2012, the first five-member Workers' Congress of Baige Company reviewed and approved the “Full Equity Transfer and Relocation and Promotion Plan for Baige Abrasives Co., Ltd.” and said that the reorganization work was a complete success. In 2013, SINOMACH established SINOMACH Precision Co., Ltd. in Zhengzhou.
The arrival of the central enterprise SINOMACH Group, its strength and credibility, let Zhengzhou see the hope of the rebirth of the white pigeon company. SINOMACH is a large state-owned enterprise approved by the State Council. It is the largest central enterprise group with the largest scale, the widest coverage, the most complete business chain and the strongest R&D capability in China. It is one of the world's top 500 enterprises for many years. It ranks first in the top 100 Chinese machinery industry enterprises.
SINOMACH is also looking forward to the restructuring of Baige Company. SINOMACH will “reshape the leading image of Zhengzhou’s national abrasives industry”. To this end, SINOMACH gathered its Sixth Design and Research Institute of Machinery Industry, Zhengzhou Abrasives Grinding Research Institute, China Abrasives Import and Export Corporation and Baige Company to establish SINOMACH Seiko Group in Zhengzhou. To build a full-industry chain operation platform for the integration of science, industry and trade.
However, the specific promotion is not smooth sailing. For example, although the state-owned assets are transferred free of charge, the tax burden involved cannot be avoided. At the beginning of March last year, at the Zhengzhou City State-owned Enterprise Reform and Development and State-owned Assets Supervision Work Conference in 2016, Zhengzhou State-owned Assets Supervision and Administration Commission named the company to accelerate the promotion of “White Pigeon Abrasives Co., Ltd. (ie Baige Company) and China National Machinery Industry Corporation. Strategic restructuring." It is obvious that the "love" of Baige Company and SINOMACH three years ago has not yet come to a successful conclusion.
This time, the SINOMACH Group bought and sold itself in the system. For the pigeons, it also realized another way to return to the “listed company”.
Under the background of the reform of central enterprises, the integration of SINOMACH into listed companies is also regarded as a strategic move by SINOMACH.
Axis research and technology announcement said that the company and the products of this transaction are all the basic parts of precision machinery. The customers are mainly high-end equipment manufacturing enterprises, and the company and SINOMACH have high reputation and reputation among customers. degree. After the completion of the transaction, a common sales platform will be established at the company level to share the customers of both parties and jointly develop customers in aerospace, ocean transportation, oil drilling and precision instrument manufacturing.
As far as SINOMACH is concerned, the strategic intentions under the background of the reform of central enterprises are visible.
Ren Hongbin, chairman of SINOMACH, said at the 2017 SINOMACH working conference that the domestic demand market for machinery products will remain weak in the short term. The steel, coal, power, petroleum, chemical and other industries that the machinery industry mainly serves are deeply adjusted in the industrial structure. In the short term, it is difficult for energy equipment to grow substantially in the short term. China's traditional foreign trade competitiveness has continued to weaken, new competitive advantages have not yet been formed, and industrial development is facing "two-headed extrusion." The foreign trade, foreign cooperation, and capital allocation of the machinery industry are facing new and more complicated and volatile situations.
Despite the complicated situation, SINOMACH completed operating income of 214.82 billion yuan, total profit of 8.66 billion yuan, and paid taxes and fees of 13.55 billion yuan last year. The profit reached a record high, and the task of assessing the SASAC was fully completed.
It is understood that SINOMACH has established a corporate governance structure with its own characteristics at the group level. The main business assets and core business of the company have achieved corporatization operations. Most of them have established a standardized modern enterprise system. Nine enterprises have achieved listing, and nearly 60% of the assets have entered the listed company.
In addition, in terms of promoting internal restructuring, reducing management level, and reducing corporate units, SINOMACH completed the separation of main and auxiliary businesses and the restructuring of auxiliary businesses, gradually divested the functions of enterprises in running the society, and effectively promoted collective reform.
Through reforms, the capital structure of SINOMACH has undergone major adjustments. More than 70% of the assets have realized mixed ownership management, and the use of limited state-owned capital integration has driven a large amount of social capital and expanded the control and influence of state-owned capital.
At the meeting of the heads of central enterprises and local SASACs held at the beginning of the year, Xiao Yaqing, director of the State-owned Assets Supervision and Administration Commission, said that this year, the central enterprises will be vigorously promoted to restructure and go public, and strive to break through the mixed ownership system at the group level. In establishing a modern enterprise system, it is necessary to improve the corporate governance structure, vigorously promote the standardization of the board of directors, formulate normative documents to strengthen the construction of external directors, strengthen the institutionalization of communication between the investor institution and the board of directors, and accelerate the formation of equal rights and responsibilities. Coordination, effective checks and balances of decision-making implementation monitoring mechanisms. (This article is reproduced from Sohu. The content of this article does not represent the website view. Original address: http://mt.sohu.com/20170208/n480224118.shtml?qq-pf-to=pcqq.c2c)

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