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On January 24, China Longyuan Power Group Corporation Limited (hereinafter referred to as “Longyuan Power”) merged with Inner Mongolia Pingzhuang Energy Resources Co., Ltd. successfully by share swap and got listed on the SZSE Main Board. It is a measure of SZSE to follow the guiding principles of the CPC economic work conference, give full play to the functions of the market, provide services for the reform of SOEs and contribute to the accomplishment of carbon peak and carbon neutrality. It is also a typical example that an SOE integrated industrial resources and revitalized the operation of state-owned assets through a platform of the capital market, so as to become bigger and stronger.
Affiliated to the China Energy Investment Corporation, Longyuan Power is a large comprehensive power group focusing on the development and operation of new energy and wind power operator with the largest installed capacity. Longyuan Power got listed overseas as a new energy company. Its return to the A-share market will undoubtedly improve the structure of SZSE’s new energy industry and contribute to the sound development of SZSE’s green finance service system.
SZSE has always focused on serving the national strategies, and worked hard to build itself into the forefront of improving the quality and efficiency of the reform of state-owned assets and SOEs and an innovation-based engine to power the sustainable development of finance. Aiming to improve the quality of listed companies, SZSE formed a special work plan according to the Three-year Action Plan for the Reform of State-owned Enterprises (2020-2022), in a bid to improve the regulation service mechanism, support SOEs in adjusting business structure by means of strategic M&A and industrial integration, optimize industrial distribution and enhance the efficiency of capital allocation. In 2021, the SOEs listed on SZSE carried out 24 major assets restructurings, with transaction volume exceeding CNY 160 billion. SZSE established diversified cooperation mechanisms with 87 central-administered SOEs to practically promote the implementation of many reform projects. As at the end of 2021, more than 250 SZSE-listed companies were engaged in green industries such as new energy materials, new energy vehicles, and energy conservation and environment protection, with a cumulative equity financing of over CNY 770 billion; and their market value totaled over CNY 7 trillion, accounting for 18% of that of all SZSE-listed companies.
Next, SZSE will continue implementing the decisions and plans of the CPC Central Committee and the State Council and the guiding principles of the CPC economic work conferences, and follow the principles of “system building, non-intervention and zero tolerance” and the requirements of revering the market, revering the rule of law, holding high professionalism, staying alert to risks, and obtaining support from various parties. SZSE will abide by the work plan of the Party Committee of the CSRC for stabilizing the market, policies and expectations and making progress in the reform, opening-up and serving the high-quality development of the real economy, practice the new development philosophy in a complete, accurate and full manner, focus on the features of SZSE to improve the quality and efficiency of the regulation and the service level, and promote the strategic restructuring and professional integration. In addition, SZSE will make meticulous efforts and join the forces of the market to support state-owned assets and SOEs in realizing the goals of the Three-year Action Plan with a high standard, contribute to the achievement of carbon peak and carbon neutrality, and better serve the formation of the new development pattern and the high-quality economic development.
