On the evening of August 16th, the Unicom mixed-reform plan released by all circles - "BAT" Big Three and many companies including Jingdong, Suning and China Life Insurance became the new strategic investors of mixed reform. However, after 5 hours of the announcement, it was removed at 22:00 last night. What is the reason? Let's find out together.
According to relevant sources, China Unicom may be modifying the details of the program and re-issuing it after confirmation. However, the big picture in the plan will not change again. The four major Internet companies are scheduled to enter, and two of the BAT will enter the board of directors.
The plan shows that it intends to achieve a mixed change through a fixed increase + major shareholder agreement transfer + employee shareholding method, with a total consideration of 77.914 billion yuan. After the completion of the transaction, the shareholding structure of Unicom A-share company was 36.7% of Unicom Group, 35.2% of strategic investors, 2.7% of employee equity incentives, and 25.4% of public shareholders. The strength of the mixed reform is the largest in history. According to the website of China Unicom Group, strategic investors include China Life, Tencent, Baidu, Jingdong, Alibaba, Suning Yunshang, Guangqi Group, Qianhaimu Fund, Didi Chuxing, NetScience Technology, UFIDA Software, Yitong Century China's state-owned enterprise structure adjustment fund. On the morning of the 17th, the above listed companies collectively announced the suspension of trading.
China Unicom is regarded by the outside world as a heavy gun for the reform of central enterprises, and this program involves core assets for the first time. The companies involved in the mixed reform can be divided into four categories: Internet companies, vertical industry companies, financial enterprise industry groups, and industrial funds. Unicom and large Internet companies will carry out in-depth collaboration in the areas of retail systems, channels, content, home Internet, payment finance, cloud computing, big data, and Internet of Things; and deep cooperation with vertical industry companies in the areas of Internet of Things, CDN, and system integration; It cooperates with financial and industrial groups in the field of industrial internet and payment finance; industrial funds provide opportunities for China Unicom to provide a large number of central enterprises, local state-owned enterprises and private enterprises with more investment.
According to the plan, the funds raised will be used for 4G capacity enhancement, 5G networking technology verification, related business enablement and innovative business construction projects. What is remarkable is that in this company involved in the mixed reform, it includes a number of non-state-owned capital companies. In the choice of investors, the relevant decision-making level considerations are based on the high degree of relevance, whether synergies and promotion can be generated as the primary consideration, and a careful assessment is made to make the final choice.
Today, it can be said that the market was detonated by a news, and the Unicom mixed-change plan came out. Unicom was originally used as a benchmark for mixed reforms, and the movements of this mixed reform were very large, and the participating companies were also very strong. BATJ all participated. Under such circumstances, when the market is in a bottleneck, it is very easy to cause riots. More importantly, after the large funds came out of the cyclical stocks, there were not many directions to choose. At this time, the emergence of the national reform officially provided a goal of capital flow.
The core of the mixed stock selection is that the previous period has not increased much. The current valuation is not high, and the expectations of the mixed reform are sufficient for these three points. Aviation (East China Airlines, Air China, etc.), Railway (Da Qin Railway, Guangzhou-Shenzhen Railway, etc.), Power (Wenshan Power, Huaneng Power, Huadian International, etc.), heavy equipment (Dongfang Electric, China Heavy Industry, Zhenhua Heavy Industry, China Ships, etc.) ). These stocks do not all meet the three requirements, but some of them have chosen them because they have not been able to increase their performance in the previous period. In addition, you can wait for the market to generate leading stocks and then intervene. However, it should be noted that the final height of the mixed reform is likely to depend on the increase after Unicom.
In addition, in other sectors, small and medium-sized innovations continue to rebound, and the artificial intelligence we mentioned yesterday is also very good today. Xiong'an New District, this plate has always belonged to one of the favorite sectors of the hot money, but the problem is that the logic of the speculation is not good enough. Although the two days of the overall improvement of the Xiongan is good, but there is no strong leading edge.
In December 2016, the Central Economic Work Conference pointed out that “the reform of mixed ownership is an important breakthrough for the reform of state-owned enterprises. In accordance with the requirements of improving governance, strengthening incentives, highlighting main businesses, and improving efficiency, in power, oil, natural gas, railway, civil aviation, and telecommunications. And the military and other fields have taken substantial steps." In April 2017, the National Development and Reform Commission held a press conference, indicating that the list of the 19 batches of 19 pilot reform enterprises has been basically approved, and the third batch of pilot selection work is underway.
Since June this year, the reform of state-owned enterprises has accelerated again. On June 26, 2017, the Central Deep Reform Group reviewed and approved the “Implementation Plan for the Reform of the Central Enterprise Company Systemâ€, emphasizing the basic completion of the restructuring of the state-owned enterprise system before the end of this year, focusing on promoting the construction of the board of directors, improving the corporate governance structure of the company, and realizing Rights and responsibilities are equal.
With China Unicom and China Shenhua and Guodian Power's resumption of trading, the theme of mixed reform will surely stimulate funds to enter the market, and mixed reforms in other industries will also be imagined and hyped. Let's see which companies benefit.
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