On June 21, 2018, under the guidance of Shanghai Hongqiao Business District and Minhang District Government, sponsored by Shanghai Nanhongqiao Investment and Development Co., Ltd., and undertaken by Siya Investment, "Into the Hongqiao•2018 Hundred Listed Companies Closed-door Meeting-Meeting Hub: "New Capital•New Industry•New Layout" was successfully held in Shanghai.
The meeting invited relevant leaders such as Fei Xiaomei, deputy director of Shanghai Hongqiao Business District, Shen Jun, member of the Standing Committee of Minhang District Committee and deputy district mayor, Wei Mingde, chairman of the Hong Kong Financial Association and member of the National Committee of the Chinese People's Political Consultative Conference, and Lian Ping, chairman of the China Chief Economist Forum. As well as representatives of hundreds of listed companies, professional institutions and financial media, gathered to discuss how listed companies relying on hub development under the new situation can carry out new industrial layout and how new capital can promote the development of listed companies.
Fei Xiaomei, deputy director of the Hongqiao Business District, said in her speech that “the future Hongqiao will be the first choice for new capital, new industries, and new layouts, and a weather vane for China’s trade development. It should be a gathering place for various listed companies.” At the same time, She also said that the city government will support more enterprises in the development of Hongqiao Business District.
Shen Jun, member of the Standing Committee of the Shanghai Minhang District Committee and Deputy District Mayor, said, “Minhang will base itself on Hongqiao’s location advantages and the functional advantages of large business, large transportation, and exhibitions, and will focus on building a core business hub in the Yangtze River Delta region, and service linkage The overall goal of the integration of the Yangtze River Delta is to continuously optimize the business environment."
Wei Mingde, chairman of the Hong Kong Finance Association and member of the National Committee of the Chinese People’s Political Consultative Conference, proposed that the cooperation between Shanghai Hongqiao Business District and the Guangdong-Hong Kong-Macao Greater Bay Area has both advantages and complementarities. It will produce 1+1>2 effects. Through the industry chain, capital chain, Cross-regional adjustment and coordination of the innovation chain can create an innovation corridor and become an important innovation center in Asia and the world.
Sia Investment CEO Zhang Landing shared the view that the hub economy leads the development of listed companies at the meeting. By comparing the hub economy of Atlanta and other hubs in the United States, Zhang Landing proposed that the hub economy can give play to the effect of industrial clusters, improve resource utilization, and make full use of regional talents, human resources, information resources, and financial resources to help enterprises develop rapidly. The establishment of institutions through the business district can help companies reduce innovation costs and improve their innovation capabilities. At the same time, because the industrial chain of the business district is becoming more and more perfect, and in the process of cooperating with other related enterprises to improve the overall efficiency and overall competitiveness of the enterprise, listed companies can use this platform to step into the international and globalization.
New industrial layout
China Chief Economist Forum Chairman Lian Ping shared his views on macroeconomic development. He pointed out that the current state of the world economy, the normalization of the US monetary policy and the trade war are the three major challenges facing China from the international economy. The growth rate of China's own domestic demand and exports in the first half of the year was significantly higher than that of last year; infrastructure investment will stabilize or even rebound in the second half of the year, the growth rate of real estate investment will continue to remain above 10%, and manufacturing investment is currently in a stable state; The overall performance of the consumption situation was worse than last year, with a significant decline in the first half of the year and gradually stabilizing in the second half.
Under such a macro background, how should listed companies grasp and make good use of the current trends and develop their global layout and expansion?
In this regard, KPMG’s Vice Chairman of China Gong Weili put forward his point of view, “For overseas investment (M&A), we must pay attention to his industry.” At the same time, he also said that “we need to pay attention to the transaction process and become more and more standardized. ". Gong Weili also specifically pointed out that post-merger integration is the key to the success of the entire acquisition. Cultural differences, lack of business experience and negotiation skills, and the regulatory disagreement of the target country are the three biggest obstacles to failure.
Tan Qiang, President of Haiyin Financial Holding Group, also expressed his views on this. He proposed that if companies really have business to do overseas layout, they need to carry out strategic layout from the national level, the people’s livelihood level and the industrial chain level, that is, industrial upgrading. To achieve synergies with innovation, consumption, and whether companies need to diversify their operations and whether they need to vertically integrate upstream and downstream industrial chains.
Wu Xiaoying, as the director of the Economic Research Department of the China Center and a senior consultant of the United States Federation of Large Enterprises, analyzed the company's industrial expansion path from a long-term perspective, and conducted an in-depth analysis of the current economic development from the perspective of total factor productivity.
As the chairman of a listed company, Huitian New Material Zhang Feng puts forward his own views on the industrial layout of listed companies from the perspective of corporate development. He believes that the key to listed companies is to have the spirit of serving the country through the industry and do the best of their products. At the same time, you need to really calm down to do your own business well.
At the meeting, Brain Wu, the investment general manager of Siya Investment, released the "Global Industry Expansion and M&A Report". Brain
Wu pointed out, “When a company wants to do an M&A, you must first ask yourself what your purpose is. Another important link is to do due diligence.” He pointed out what listed companies need when doing industrial expansion and M&A. Important prerequisites.
New capital development and the power of professional institutions
As the first bike-sharing company and the first listed company in the bike-sharing industry, Sun Jisheng, chairman of Yonganhang, put forward the experience of formal capital market to boost the development of the company.
Yin Zhenglong, chairman of Shanhe Yaofu, analyzed the role of the capital market from the perspective of systems and processes. He said that the capital market has improved systems and procedures to help avoid risks. At the same time, the incomplete maturity of the capital market makes policy fluctuations still have a great impact on enterprises, and the mature capital market is still the target of listed companies.
The economic situation in 2018 is more complicated. In 2017, non-financial listed companies realized operating income of 329,100 yuan, an increase of 21% year-on-year, and realized net profit of 1.7 trillion yuan, an increase of 34% year-on-year. Return on net assets It reached 9.5%, an increase of 1.4 percentage points from 2016. In 2017, the amount of mergers and acquisitions of A-share listed companies was 2.3 trillion yuan, of which the amount of listed companies as the buyer was 1.7 trillion yuan, and the amount as the seller was 600 billion yuan. The types of mergers and acquisitions were mainly horizontal and integrated mergers, accounting for 80% of the entire transaction amount.
For many listed companies, on the way of industrial expansion and mergers and acquisitions, they cannot do without the help of professional agencies, brokerage firms and other professional institutions.
Regarding corporate mergers and acquisitions, Feng Zhenyu, general manager of Shenwan Hongyuan, said: “From the perspective of a brokerage firm, listed companies should study and analyze the context of future market development from their own business and their main business, and prepare their own technical reserves. ,Talent pool."
In recent years, the new development of the Hong Kong market has shown more possibilities. Zheng Hui, a partner of King & Wood Mallesons, proposed that listed companies no longer use A shares as the only exit path, but choose to go public in Hong Kong, which makes the direct involvement of overseas US dollar funds in the M&A project. For A-share listed companies, resource integration through overseas mergers and acquisitions is a new path and channel.
Zhang Landing said, “What a listed company wants to develop is not capital at all, but a clear development strategy and industrial expansion framework in the future.”