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On February 28th, Shenzhen Cereals Holdings Co., Ltd. (hereinafter referred to as “SZCH”), an SOE administered by Shenzhen Municipality, held its restructuring and renaming ceremony. The overall assets of Shenzhen Cereals Group Co., Ltd. (hereinafter referred to as “SZCG”) have been injected into the SZCH platform, and the stock abbreviation of SZCH has been changed from “SBSY-A” and “SBSY-B” to “Shenliangkonggu” and “Shenliang-B”.
The overall listing of SZCH is a particular gesture from Shenzhen state-owned capital to accelerate the strategy of “listed companies plus” and actively promote resources restructuring and consolidation. It is also the first of its kind among local cereals enterprises. In December 2018, Shenzhen Shenbao successfully implemented the plan of purchasing 100% equities in SZCG via share offering, achieving the overall listing of grain and oil business of Shenzhen state-owned capital. Through the said overall listing, SZCH has its main business expanded to include the reserve, trading and processing of grain and oil, with the total assets increased more than 4.7 times and net assets more than 3.2 times. Its estimated net profit of 2018 is RMB0.28-0.392 billion.
An SZSE official said that the overall listing of SZCH is SZSE's latest achievement in actively serving the construction of Guangdong-Hong Kong-Macao Greater Bay Area. SZSE will earnestly implement the strategies and deployment of the CPC Central Committee and the State Council, sufficiently take advantage of basic platform function and capital formation, and fully serve such national strategies as innovation-driven development and the Guangdong-Hong Kong-Macao Greater Bay Area construction. In so doing, SZSE will continually optimize the environment for M&A restructuring, constantly strengthen the support towards industrial integration, and actively promote the listing and restructuring of SOEs and the overall listing of private group companies, thus supporting companies to become stronger and better by utilizing the capital market. Besides, SZSE will take more concrete measures to optimize and perfect the fundamental rules for the capital market, enhance the ability of finance to serve the real economy, and promote the quality development of listed companies.
