Nanjing Nanrui Group, a subsidiary of State Grid Corporation, recently listed 66.67% of the shares of Shanghai Guodian Investment Co., Ltd. on the Shanghai United Assets and Equity Exchange. The listing price was 71 million yuan. The industry believes that the transfer of the equity is a case of the State Grid's deregulation of the auxiliary industry. After the separation of the main and auxiliary grid companies, more grid auxiliary assets will appear in the property market.
The subsidiary business was poor. Shanghai Guodian Investment Co., Ltd. was established in 2001 with a registered capital of 58.8 million yuan. It was originally a state-owned investment company jointly established by China Electric Power Finance Co., Ltd. and other companies in the original national power system. The scope of business includes industrial investment, corporate asset entrustment management, corporate mergers and acquisitions, domestic trade, corporate image planning, and consulting services. The company’s existing shareholders are Nanjing Nanrui Group, which holds 66.67% of its equity, and Shenzhen Changyuan Yingjia Investment Co., Ltd. holds the remaining equity. The original shareholders of the company did not give up exercising the right of first refusal.
According to the financial statements, in 2010, Shanghai Guodian Investment realized operating income of 183,500 yuan, operating profit and net profit of -89.12 and 8.44 million respectively. The company's total assets were 63,444,200 yuan, liabilities totaled 0.62 million yuan, and owners' equity was 63,438,000 yuan.
According to the assessment report with the base date of September 30, 2010, the book value of the company's total assets was 63,337,800 yuan, and the appraisal value was 10,603,424 yuan, of which the net asset assessment value was 63,345,000 yuan and the appraisal value was 10,625,410 yuan. Value-added 68%, the corresponding evaluation value of the transfer target of 70,833,600 yuan.
The separation and restart of the main power and auxiliary power system The reform of China's power system introduced in 2002 clearly defined four major reform tasks: separation of plant and network, separation of main and auxiliary facilities, separation of transmission and distribution, and online bidding. After the dismantling of the original national power company, China established the State Grid and the Southern Power Grid and the State Power, Datang, Huaneng, Huadian, China Power Investment and the five major power groups, basically achieving the goal of separate factories and networks.
The "separation between the main and the auxiliary" has always been an obstacle that it is difficult to break through in the electricity reform because of the delay in the advancement of various interests. In particular, after the State-owned Assets Supervision and Administration Commission approved the State Grid Corporation of China to acquire Pinggao and Xu Ji last year, the industry generally believes that the principle of "main and auxiliary separation" has been paralyzed.
On September 3, 2010, the power system reform working group passed the “Separation of Main and Auxiliary†plan formulated by the SASAC. The November plan was reported to the State Council. Earlier this year, the State Council agreed to the plan and made it clear that it was organized and implemented by the SASAC. At this point, since the start of the reform of the electric power system in the No. 5 Document of the State Council in 2002, the intermittent reforms of the main and auxiliary grids have been confirmed.
It is reported that the finalized grid main and auxiliary separation plan is slightly different from the 2007 plan. In the original plan, the investigation and design of the State Grid and China Southern Power Grid Corporation, thermal power, hydropower, transmission and substation construction, and construction companies will all be detached from the power grid company, and merged into the restructured China Power Engineering Group and China Power Construction Group. Electric power auxiliary group. In the separate reform plan for the main grid and auxiliary grids that the State Council has just approved, except for transmission and transformation companies, the survey design and build companies will be separated from the power grid, and the separation work will be completed within one year. The industry expects that there will be more grid companies’ subsidiary assets in the equity market this year. (
The subsidiary business was poor. Shanghai Guodian Investment Co., Ltd. was established in 2001 with a registered capital of 58.8 million yuan. It was originally a state-owned investment company jointly established by China Electric Power Finance Co., Ltd. and other companies in the original national power system. The scope of business includes industrial investment, corporate asset entrustment management, corporate mergers and acquisitions, domestic trade, corporate image planning, and consulting services. The company’s existing shareholders are Nanjing Nanrui Group, which holds 66.67% of its equity, and Shenzhen Changyuan Yingjia Investment Co., Ltd. holds the remaining equity. The original shareholders of the company did not give up exercising the right of first refusal.
According to the financial statements, in 2010, Shanghai Guodian Investment realized operating income of 183,500 yuan, operating profit and net profit of -89.12 and 8.44 million respectively. The company's total assets were 63,444,200 yuan, liabilities totaled 0.62 million yuan, and owners' equity was 63,438,000 yuan.
According to the assessment report with the base date of September 30, 2010, the book value of the company's total assets was 63,337,800 yuan, and the appraisal value was 10,603,424 yuan, of which the net asset assessment value was 63,345,000 yuan and the appraisal value was 10,625,410 yuan. Value-added 68%, the corresponding evaluation value of the transfer target of 70,833,600 yuan.
The separation and restart of the main power and auxiliary power system The reform of China's power system introduced in 2002 clearly defined four major reform tasks: separation of plant and network, separation of main and auxiliary facilities, separation of transmission and distribution, and online bidding. After the dismantling of the original national power company, China established the State Grid and the Southern Power Grid and the State Power, Datang, Huaneng, Huadian, China Power Investment and the five major power groups, basically achieving the goal of separate factories and networks.
The "separation between the main and the auxiliary" has always been an obstacle that it is difficult to break through in the electricity reform because of the delay in the advancement of various interests. In particular, after the State-owned Assets Supervision and Administration Commission approved the State Grid Corporation of China to acquire Pinggao and Xu Ji last year, the industry generally believes that the principle of "main and auxiliary separation" has been paralyzed.
On September 3, 2010, the power system reform working group passed the “Separation of Main and Auxiliary†plan formulated by the SASAC. The November plan was reported to the State Council. Earlier this year, the State Council agreed to the plan and made it clear that it was organized and implemented by the SASAC. At this point, since the start of the reform of the electric power system in the No. 5 Document of the State Council in 2002, the intermittent reforms of the main and auxiliary grids have been confirmed.
It is reported that the finalized grid main and auxiliary separation plan is slightly different from the 2007 plan. In the original plan, the investigation and design of the State Grid and China Southern Power Grid Corporation, thermal power, hydropower, transmission and substation construction, and construction companies will all be detached from the power grid company, and merged into the restructured China Power Engineering Group and China Power Construction Group. Electric power auxiliary group. In the separate reform plan for the main grid and auxiliary grids that the State Council has just approved, except for transmission and transformation companies, the survey design and build companies will be separated from the power grid, and the separation work will be completed within one year. The industry expects that there will be more grid companies’ subsidiary assets in the equity market this year. (
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