On the evening of November 29, three A-share companies, Sichuan Investment Energy (600674), Sichuan Energy Power (000155) and Huahai Qingke (688120), disclosed that the company received a notice that the Sichuan Provincial People's Government intends to start the strategic restructuring of Sichuan Investment Group Co., Ltd. (hereinafter referred to as "Sichuan Investment Group") and Sichuan Energy Investment Group Co., Ltd. (hereinafter referred to as "Sichuan Energy Investment"). Hong Kong-listed Sichuan Energy Investment Development (01713. HK) and Huahuan Electronics (430009), which is listed on the New Third Board, also announced the above news.

Sichuan Investment Energy announcement

Strong reorganization

Sichuan Investment Group and Sichuan Energy Investment, which plan to launch strategic restructuring this time, have assets of more than 100 billion yuan, and their business overlap points are in the energy sector.

Founded in October 1988 with a registered capital of 10 billion yuan, Sichuan Investment Group is the first batch of provincial-level large-scale investment and financing operation companies and state-owned capital investment companies approved by the Sichuan Provincial Party Committee and the Provincial Government. According to the official website of Sichuan Investment Group, Sichuan Investment Group has formed a "1+3" industrial layout with the energy industry as the core business and the electronic information industry, the health industry, advanced materials and strategic emerging industries as the three main industries. In 2023, Sichuan Investment Group will achieve consolidated operating income of more than 15 billion yuan, total assets of more than 110 billion yuan, and total profit of more than 4.5 billion yuan. According to the company's plan, during the "14th Five-Year Plan" period, it will strive to achieve an asset scale of 150 billion yuan, an operating income of 20 billion yuan, and a total profit of 5 billion yuan.

In terms of energy, Sichuan Investment Group holds 44.03 million kilowatts of installed power capacity, accounting for about 35% of the total installed capacity of Sichuan Province, and another holding of 11.49 million kilowatts of planned projects under construction.

Founded in February 2011 with a registered capital of 17.506 billion yuan, Sichuan Energy Investment is a large-scale state-owned capital investment company approved by the Sichuan Provincial People's Government, and is a leading enterprise in the energy and chemical industry in Sichuan Province. According to the official website, Sichuan Energy has an investment and production scale of more than 260 billion yuan and an annual operating income of nearly 100 billion yuan. The company expects that by the end of the "14th Five-Year Plan", the asset scale will exceed 400 billion yuan, the operating income will exceed 150 billion yuan, and the total profit will exceed 10 billion yuan.

If the two companies can successfully achieve their 14th Five-Year Plan, their assets will exceed 550 billion yuan and their operating income will exceed 170 billion yuan.

Involving a number of listed companies

At present, both Sichuan Investment Group and Sichuan Energy Investment control a number of listed companies.

Sichuan Investment Group has 25 wholly-owned and holding enterprises, including Sichuan Investment Energy, Sichuan Investment New Energy, Zipingpu, Sichuan South Power Generation, Jiayang Group, and Sichuan Investment Etie.

Sichuan Energy Investment Holdings 4 listed companies: Sichuan Energy Power, Sichuan Energy Investment Development, Huahuan Electronics and Huahai Qingke.

In the first three quarters of 2024, Sichuan Energy Power achieved a net profit attributable to the parent company of 630 million yuan, a year-on-year increase of 11.69%, and Sichuan Energy achieved a net profit attributable to the parent company of 4.422 billion yuan, a year-on-year increase of 15.10%.

At the close of trading on November 29, the share price of Sichuan Investment Energy was 16.48 yuan per share, with a total market value of 80.33 billion yuan, and the share price of Sichuan Energy Power was 10.89 yuan per share, with a total market value of 20.1 billion yuan. Huahai Qingke's share price was reported at 189.46 yuan per share, with a total market value of 44.85 billion yuan.

The integration of state-owned assets has been accelerated

It is worth mentioning that the integration of state-owned assets in Chongqing, which is next door to Sichuan, is also in full swing.

In late November, three listed companies, Dengkang Dental (001328), Shanghai Sanmao (600689) and Southwest Securities (600369), which are owned by Chongqing State-owned Assets, disclosed relevant matters related to equity changes. Dengkang Dental and Shanghai Sanmao, whose controlling shareholders are Chongqing Textile Group, announced that in order to deepen the reform of state-owned enterprises, Chongqing State-owned Assets Supervision and Administration Commission and Yufu Holdings plan to entrust Chongqing Textile Group to Chongqing Electromechanical Holding (Group) Company. Southwest Securities announced that its controlling shareholder, Yufu Capital, intends to change its 29.51% stake in the company to Yufu Holdings. After the change, Yufu Holdings will become the controlling shareholder of Southwest Securities.

Earlier, Chongqing Department Store (600729) and Chuanyi (03100) also disclosed the adjustment of their state-owned shareholders to the shares of listed companies.

(Disclaimer: The content of this article is for reference only and does not constitute investment advice.) Investors act accordingly at their own risk. ）

(This article is synthesized from China Securities Journal, Securities Times, China Fund News and public information).