Click on the blue word above, follow 21 Jun~
Everything in economic life
Introduction: merger of north and south ships is finally about to become a fact!
From CSRC to CSRC to Shenhua and Guodian... Every merger of giants brings huge imagination space and the market reaction is extremely enthusiastic.
Source丨21st Century Business Herald (ID: jjbd21) is integrated from 21st Century Business Herald (Reporter Gao Jianghong), Securities China, Daily Economic News, China Securities News, Public Information
Picture source / Tuchuang (Data picture)
"China's magic ship" is really coming. On the evening of July 1, eight listed companies under the two major groups, China Shipbuilding Industrial Group Co., Ltd. and China Shipbuilding Heavy Industry Group Co., Ltd., successively issued announcements stating that on July 1, China Shipbuilding Network Group is planning a strategic reorganization with China Shipbuilding Network Heavy Industry.
This is a historic moment! The merger of north and south ships is finally about to become a reality! On the evening of July 1, eight listed companies including China Heavy Industry (601989), China Coast Defense (600764), Jiuzhiyang (300516), China Power (600482), China Emergency (300527), China Shipbuilding Defense (600685), China Shipbuilding Technology (600072), and China Shipbuilding (600150) have successively issued announcements. On July 1, the company received a notice from the controlling shareholder/actual controller that China Shipbuilding Group is planning a strategic reorganization with China Shipbuilding Industry. The strategic restructuring of the two major shipbuilding groups that have been rumored has finally been officially confirmed. However, the relevant plan has not been determined and the plan needs to be approved by the relevant competent authorities.
In May this year, China Shipbuilding Industry Corporation held a meeting to promote the integration and restructuring work, saying that it will promote the integration and restructuring work as a whole from the perspective of short-term and long-term development. Since the second quarter of this year, the pace of capital operation of the North-South ship system has accelerated significantly. The capital market also reflects this.
Since June, almost all of the above eight listed companies have risen, and only China's emergency response has fallen slightly. As of July 1, the total market value of the eight listed companies was 250.166 billion yuan, and . One month ago (June 1) the total market value of the eight companies was 229.022 billion yuan, that is, in one month, the market value of the eight companies soared by 21.145 billion yuan. At the same time, the agency is also actively speculating on the prospects of the two ships' restructuring.
As an important progress in mixed reform of state-owned enterprises, the merger of North and South ships will surely affect the capital market. What is the trend of North and South ships concept stock today? What profound impact will the merger of North and South ships have on the development of China's ship industry?
The huge shipbuilding industry chain integration
The "North-South Ship Merger" mentioned repeatedly in the market in recent years refers to the merger of China Shipbuilding Group and China Shipbuilding Heavy Industry Group. Among them, "South Ship" refers to China Shipbuilding Group, and "North Shipbuilding" refers to China Shipbuilding Heavy Industry.
is not an exaggeration to say that "two ships" are brother units. China Shipbuilding Industry Corporation and China Shipbuilding Industry Corporation were both established on July 1, 1999. The China Shipbuilding Industry Corporation, which was transformed from the former Sixth Ministry of Machinery Industry, was split and established. It is currently the two largest state-owned enterprises in my country's shipbuilding industry.
China Shipbuilding Group official website shows that the company was officially established on July 1, 1999. It is a centrally-owned super-large state-owned enterprise established on the basis of the departments, enterprises and institutions of the original China Shipbuilding Industrial Corporation. It is a national authorized investment institution and is directly managed by the central government and ranks 364th among the top 500 companies. As of the end of 2017, China Shipbuilding Corporation had more than 40 secondary units.
China Shipbuilding Group has gathered a group of strong ship repair companies and ship supporting companies, including Jiangnan Shipbuilding Group, Hudong Zhonghua Shipbuilding Group, Shanghai Waigaoqiao Shipbuilding, Shanghai Jiangnan Changxing Shipbuilding, etc. At the same time, the company also owns three ship research and design institutions, namely, China Shipbuilding and Marine Engineering Design Institute, Shanghai Shipbuilding Research Institute , Guangzhou Shipbuilding and Marine Engineering Design Institute, as well as well-known engineering consulting, design and general contracting units such as China Shipbuilding No. 9 Design Institute Engineering.
China Shipbuilding Industry Corporation was also established on July 1, 1999. It is a super-large state-owned enterprise reorganized by some enterprises and institutions of the former China Shipbuilding Industry Corporation. The company is mainly engaged in the research and development and production of marine equipment industry, power and electromechanical equipment industry, strategic emerging industries and productive modern service industry.In 2018, the company was selected as the Fortune 500 companies for seven consecutive years, ranking 245th, ranking first among global shipbuilding companies.
China Shipbuilding Industry Corporation has 5 listed platform companies, 95 second-level member units, 29 scientific research institutes, and 170,000 employees.
The merger of "North and South Ships" is no longer new in the market and has been mentioned frequently this year.
According to researchers, the merger of north and south ships can enable the two parties to complement each other in R&D, manufacturing and supporting facilities, while resolving the problem of overcapacity in the shipbuilding industry and avoiding the occurrence of internal consumption.
Compared with the two ships, China Shipbuilding Group is more mature in system construction and market capabilities, while China Shipbuilding Heavy Industry has stronger R&D and supporting capabilities, so the merger is beneficial to the future development of both parties. At the same time, the merger of the two ships will help to exert the scale effect and improve China's global competitiveness.
How does the research institution view the merger of north and south ships?
Pacific Securities stated that the merger of north-south ships is conducive to the development of domestic civilian and military ships. Civilian ships are the international market. At present, the global demand for civilian ships is insufficient, and my country's competitiveness in high-end ships is still at a disadvantage. North and south ships compete against each other for orders and price reduction is not conducive to overall interests and is not conducive to improving international competitiveness.
In the view of Pacific Securities, the restructuring of north-south ships will reduce unnecessary domestic competition and duplicate construction problems in the civilian ship field, and promote low-end production capacity sales and technological progress. In terms of military ships, since the north and south ships have always had close cooperation in the development of military ships, the merger will be more conducive to the improvement of my country's naval equipment strength.
Guojin Securities Research Report believes that the assets and businesses of North and South ships overlap and have their own emphasis. South ships focus on ship manufacturing , and North ships focus on ship design and supporting facilities. If is successfully reorganized, the military ship business will be better coordinated and the civilian ship business is expected to form a joint force, breaking through high-tech ship types and jointly expanding overseas markets.
CICC research report believes that the merger of north-south ships mainly affects three aspects:
First, it is conducive to optimizing capacity resources and effectively removing excess capacity. After the merger of , the industry positioning and main construction ship types of each shipyard may be repositioned, effectively eliminating duplicate low-end production capacity and concentrating more resources into the construction of high-end production capacity. It is conducive to the overcapacity reduction of the entire industry, and the industry will achieve a fundamental balance between supply and demand.
Second, to reduce invalid competition to a certain extent, and improve the international competitiveness of the enterprise. The merger of will effectively reduce internal competition and become the world's top two shipbuilding groups that are comparable to Hyundai Heavy Industry (including Daewoo Shipbuilding), effectively improving international competitiveness.
The third is to improve the entire industrial chain and give full play to complementary and synergistic effects. If is merged, it is expected to promote the professional integration of various types of assets, effectively exert the complementarity and synergy between the two parties, and improve corporate value.
For listed companies, CITIC Construction Investment believes that if the two ships merge, they will reposition the listed company and take over the related assets of the two ships as a professional platform.
North and South Ship Concept Stocks may benefit
In the capital market, funds also echo each other.
is affected by the news of the merger of North and South ships. Since the beginning of this year, the merger of North and South ships concept stocks have risen one after another, and many stocks have doubled out of the market. From the beginning of the year to April 18, the North-South Ship Merger Index rose 85%, followed by a pullback. From June 10 to the present, the concept of north-south ships has begun to warm up, with the north-south ship consolidation index rising 16.4%.
A shares performed well in the last round of rebound, and many individual stocks showed a double market trend. Behind this market, the factors that the existing industry fundamentals bottomed out and rebounded are obviously related to strong integration expectations in the fields of shipbuilding and offshore engineering.
Under the news of the merger of North and South ships, related concept stocks are naturally worth paying attention to. Wind data shows that a total of the following 8 stocks are identified as "North and South Ship Merger" concept stocks.
Image source / Securities China
1jun
Friends, what do you think of the future development of the "China God Ship"?
million readers are watching...
Don’t laugh at Shanghai people, “garbage classification” will soon be the turn of these 45 cities! The real-life filming on the first day of the official implementation of Shanghai!
garbage classification is "driven crazy" Shanghai people... This most awesome "garbage" stock hits the daily limit of 7! A statement was issued: "I am a tractor..."
"Spirited and Chiaki" was released again: It has been 18 years old, I don't know the meaning of the play, and now I am a person in the play
This issue editor Chen Si
I am watching, where are you?
