I. Enterprise’s state-owned equity transactions
This week, the volume of concluded transactions of state-owned equities of enterprises of CBEX reached RMB146 million, with some drop year-on-year. The projects transferred to non-stated-owned entities accounted for 66.67% in terms of numbers and 68.64% in terms of volume of concluded transactions. It indicates that CBEX plays an important role in providing services for mixed ownership and it is an important platform for non-public capitals to participate in restructuring of state-owned enterprises. The construction industry, agriculture, forestry, animal husbandry and fishery industry and real estate industry ranked the top three. The project of “0.79% of stock equity of GangHai（Tianjin）Construction Co., Ltd” owned by a subordinate company of China Merchants Group was transferred to a private enterprise.
The total amount of newly listed projects reached RMB9.815 billion, with an increase of 414.14% year-on-year. The finance, real estate and transportation equipment manufacturing industries ranked the top three. The project of “6.84% and 7.11% of stock equity of Huatai Insurance Group” respectively owned by China Petrochemical Corporation and its subsidiary was listed at a price of RMB7.2/share. Huatai Insurance Group was established in August 1996, with registered capital of RMB4.022 billion. It is a large-scale insurance company with participation of state-owned capital and licenses for all related businesses. It has been operated well and is expected to be listed as A-share and H-share. The project intends to transfer 538 million shares, accounting for 13.95% of the total shares. The transferee will be the third largest shareholder of Huatai Insurance Group and take two board seats. It can be transferred to co-transferees.
II. Projects concerning physical assets and non-state-owned equity
This week, CBEX promoted a number of projects concerning physical assets. The project for transfer of “210 houses on 8-28/F, Pengtiange, Jinlihaoyuan, Shenzhen” owned by a subordinate company of Chinalco Assets Management Company was listed at a price of RMB508 million.
Concerning non-state-owned equity, the project for transfer of “creditor's rights of RMB1.457186 billion of Legend Holdings Corporation” was listed at a price of RMB1.457 billion. The company concerned has registered capital of RMB2.356 billion.
III. Financing and investment promotion projects
This week CBEX promoted a number of financing and investment promotion projects. The project for “capital and share increase of Guangdong High-tech Kate Precision Machinery Co., Ltd concerning 175 million shares” was listed, intending to transfer 60% to 70% of shares to raise fund of RMB257 million. The company was established in November 1993, with registered capital of RMB75 million. After the capital and share increase, the proportion of shares held by existing shareholders shall not be lower than 30%.
IV. Projects at professional platforms of CBEX
This week, the professional platforms of CBEX also listed a number of key projects. The project of “140,000,000 shares of China United Property Insurance Company” was listed at a price of RMB239 million at Beijing Financial Assets Exchange. The company was established in December 2006, with registered capital of RMB14.64 billion. The annual operating income of the company in 2014 reached RMB30.437 billion.
V. Dynamic quoting projects
This week, 117 dynamic quoting projects were listed, including projects of physical assets of administrative institutions, vehicle assets and large-scale property in kind, with a total startup listing price of RMB7.648 billion. A total of 37 dynamic quoting projects were concluded, with a turnover of RMB64 million, including projects of physical assets of administrative institutions and vehicle assets that were concluded at a premium rate of 15.60% and 64.50% respectively.