[News event]
According to the "China Securities Journal", this years central enterprise leaders performance assessment indicators are expected to land in the near future, of which the market value management assessment will be addedRelated indicators, and design according to the "one enterprise, one policy".On the basis of the pilot of China Baowu and China Construction two central enterprises last year, this year, the market value management assessment of the central enterprise holding listed companies will be fully launched this year.Insiders believe that incorporating market value management into the performance assessment of the person in charge of the central enterprise can effectively enhance the driving force of the management of state -owned enterprises to carry out market value management, and promote the valuation of state -owned enterprise listed companies.
[Industry logic]
1. Founder Securities pointed out that from "scale assessment" to "market value assessment" will accelerate state -owned enterprises monopoly assets of scarce assetsReconstruction process.(1) In the past, the "scale assessment" would lead to the investment impulse of state -owned enterprises. Excessive investment caused state -owned enterprise pan -public business departments (water/electricity/coal/transportation/communication). The production factors provided can only be "monopolized low prices"It has been in a state of "valuation discount" for a long time.(2) The current "ROE and market value assessment" will restrict the investment impulse of state -owned enterprises.This kind of regression will accelerate the reorganization process of state -owned enterprises monopoly assets.
2. The research report of Chuancai Securities pointed out that compared with other types of listed companies, the amount of dividends in the central enterprise is relatively high, and the total dividend total amount is steadily increasing.According to iFind data, screening A-share central enterprises listed companies (including 458 Beijing Stock Exchange). According to statistics, from 2020-2022, the total cumulative cash dividend of the listed company of the central enterprise was 689.391 billion, respectively.Yuan, 907.207 billion yuan, 1111.634 billion yuan, the total cash dividend increased year by year.
[Related listed companies]
China Mobile: The company is the largest communication service provider in Mainland China, and the global network and customer scaleWorld -class telecommunications operators with the largest profitability, leading profitability, and market value ranking are in the forefront. The business mainly covers mobile phonetic and data, wired broadband, and other information and communication services.
PetroChina: The company is the largest oil and gas production and seller dominated by the Chinese oil and gas industry.
China Coal Energy: The company is a large -scale energy enterprise that integrates the four major industries of coal production and trade, coal chemical, power generation, and coal mine equipment manufacturing.The technology of chemical coal products and modern coal mining, washing and mixed production technology.
