This transaction will open a new chapter in the cooperation between CCCC Group and China Building Materials Group, promote long-term cooperation between the two central enterprise groups in more fields, and create a model for strong cooperation between central enterprises.
“In order to implement the pilot project of state-owned capital investment companies, promote the design sector to focus on its main business, improve its core competitiveness, accelerate the market-oriented reform, release the valuation potential of the design sector, and maximize the interests of all shareholders, the company has planned the spin-off and listing of its sub-business sectors.” CCCC said that through this capital operation, the company will further enhance its capital strength in the design business and expand its business layout, It will help improve the core competitiveness and profitability of CCCC.
However, the concentration of China’s engineering design consulting industry is not high, there are still certain regional, industrial and professional barriers, the market share of a single enterprise is not high, and there are no large-scale enterprises that can dominate the domestic market pattern in the industry.
At the same time, compared with international advanced engineering design consulting service enterprises, China’s engineering design consulting industry still has a certain gap in terms of design concept, service mode, service content, design depth and breadth.
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The listed company Qilianshan was transformed from the cement industry to the engineering design consulting industry, and the actual controller was changed from China Building Materials Group to CCCC Group.
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The difference will be purchased by the listed company through issuing shares.
After the completion of the transaction, the controlling shareholder and actual controller of the listed company will be changed from China Construction Materials Group to China Communications Group.
In this transaction, the value of the assets to be purchased was 104304298 million yuan, and the value of the assets to be purchased was 235031329 million yuan.
The six target companies listed in the reorganization are all enterprises with strong operating strength under CCCC Group, and their core businesses have been in the leading position in the industry for many years.
This marks a breakthrough in the restructuring and listing of six subsidiaries of China Communications Construction Group Co., Ltd.
“After the completion of this transaction, the listed companies will become the giants in the field of architectural design in the A-share market.” A researcher in the construction industry of a securities firm told the Securities Daily that the six design institutes injected by this restructuring are very strong in the industry, and the valuation is expected to increase after the listing, and the price-earnings ratio is expected to be 10 to 15 times.
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In the evening of the same day, Qilian Mountain also disclosed the restructuring plan.
After the completion of the transaction, six subsidiaries of CCCC Group realized backdoor listing.
It is reported that, The specific plan for this reorganization and listing is to split the main body (CCCC Highway Planning and Design Institute Co., Ltd., CCCC First Highway Survey and Design Institute Co., Ltd., CCCC Second Highway Survey and Design Institute Co., Ltd.) and three municipal institutes (China Municipal Engineering Southwest Design and Research Institute Co., Ltd., China Municipal Engineering Northeast Design and Research Institute Co., Ltd., and CCCC Urban Energy Research and Design Institute Co., Ltd.) (collectively referred to as “the six design institutes”), which are subordinate to China Urban and Rural Holding Group Co., Ltd., are located in Gansu Qilianshan Cement Group Co., Ltd.
As early as May 11, 2022, CCCC announced and disclosed the plan for the reorganization and listing of its subsidiaries CCCC Highway Planning and Design Institute Co., Ltd., CCCC First Highway Survey and Design Institute Co., Ltd.
With the help of this transaction, CCCC Group will realize the integration of the design sector, and the listed entity is expected to become the largest design company in the A-share market.
The above transactions constitute the reorganization and listing of CCCC’s subsidiary companies, the Public Planning Institute, the First Public Institute and the Second Public Institute.
The difference of 130727031 million yuan was purchased by Qilian Mountain from China Communications Construction Corporation and China Urban and Rural Construction Corporation by issuing shares.
It is understood that this restructuring is divided into three parts: major asset replacement, issuing shares to purchase assets and raising matching funds.
The listed company plans to sell all its assets and liabilities and put them into 100% equity of the six subsidiaries of CCCC and China Urban and Rural Construction Corporation.
Listed companies said that the infrastructure of CCCC Group and China Building Materials Group is closely related to the building materials industry, with strong industrial synergy and high business compatibility.
(hereinafter referred to as “CCCC Group”), and the largest design institute in the A-share market is expected to be born.
100, and State-owned think tank recently, China Communications Construction Corporation Limited (hereinafter referred to as “CCCC”) issued a notice that the company’s board of directors reviewed and approved the proposal for the reorganization and listing of CCCC’s subsidiaries.
02 In the transaction of CCCC to create a “Big Mac” in the design field, Qilian Mountain plans to sell out 100% of its shares in Qilian Mountain Co., Ltd., and carry out asset replacement with 100% of the shares of CCCC’s Public Planning Institute, 100% of the shares of CCCC’s First Institute, 100% of the shares of CCCC’s Second Institute, and 100% of the shares of CCCC’s Southwest Institute, Northeast Institute, and Energy Institute.
Qilian Mountain issued shares to China Communications Construction Corporation and China Urban and Rural Construction Corporation to purchase 100% of the equity of the Public Planning Institute, 100% of the equity of the First Institute, 100% of the equity of the Second Institute, 100% of the equity of the Southwest Institute, 100% of the equity of the Northeast Institute and 100% of the equity of the Energy Institute and the balance of the proposed assets, and raised supporting funds.
016 central enterprise design institutes took an important step in the reorganization and integration.
03 The restructuring and integration of the engineering design consulting industry may significantly accelerate the development of China’s engineering design consulting industry after many years of development.
The two sides are both pilot state-owned capital investment companies.
and CCCC Second Highway Survey and Design Institute Co., Ltd.