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The largest and most eye-catching action was Sinopec Joint Stock Company. On February 8, PetroChina Daming, Yangzi Oil, PetroChina Gas, and Qilu Petrochemical, which are subsidiaries of Sinopec Corp., also issued announcements stating that they were suspended for the same reason that “the major shareholder, China Petroleum & Chemical Corporation, would require disclosure of material informationâ€. The market generally believes that this "significant information" is Sinopec's repurchase of the four listed companies that have long been rumored. Once Sinopec took the repurchase of last year, together with the cash methods of Zhenhai Refinery and Beijing Yanhua, it will involve 11.8 billion yuan in funds. This is the latest move of Sinopec to fully integrate its listed companies.
The leading company in the domestic tire industry, Huanghai, announced on the eve of the Spring Festival that its controlling shareholder, the State-owned Assets Supervision and Administration Commission of Qingdao, will transfer the entire share capital of the company to the wholly-owned subsidiary of China National Chemical Corporation at a price of RMB 17.25 million. Xiu (Group) Corporation and China National Chemical Equipment Corporation. After the transfer was completed, China National Chemical Corporation became the actual controller of Huanghai. After the completion of the asset reorganization, Huanghai will benefit from the capital strength, sales channels, and technology development capabilities of CRRC and China National Chemical Equipment Corporation, and increase the added value and market sales of its products.
Luxi Chemical, which is known as “Urea King†in the stock market, purchased the Liaocheng Lanwei Chemical Co., Ltd. and Ningxia Chemical Fertilizer Co., Ltd., its major shareholder, Luxi Chemical Group Co., Ltd., for a total amount of 38,344,400 yuan. % of equity. After the acquisition is completed, all parties can greatly expand their business areas and increase their profitability.
In the new round of asset restructuring, some listed companies have also increased their penetration into the industry. Gezhouba Stock Co., Ltd., through its holding subsidiary, is in the process of acquiring some of the operating assets of Chongqing Xuanli Chemical Co., Ltd., and both parties have now reached an intention of transfer. Hualian Holding Co., Ltd., which is principally engaged in the textile and apparel business, announced on the 5th that it will jointly increase the capital of 300 million yuan with the other two major shareholders to Hualian Sanxin, which it controls, to build the second set of PTA chemical plants.
While Shandong Haihua, Sichuan Lutianhua and other companies took the last round of share reform to implement the share reform, some oil and chemical listed companies started a new round of asset restructuring after the new year. These elite companies in the industry look forward to gaining greater room for development after the historic share reform through the asset ties.