2019-12-16
 
 
Completed Shareholding System Reform, Guangzhou Yuexiu Holdings Limited Unveiled
Release Date:2019-10-24 15:43:14

Recently, Guangzhou Yuexiu Holdings Limited was approved by State-owned Assets Supervision and Administration Commission of Guangzhou Municipal Government (“SASAC GZ”), marking a complete success of the shareholding system transformation of Yuexiu group. On October 21, Guangzhou Yuexiu Holdings Limited held its founding and unveiling ceremony.

 

Speech by Cui Yanlun, Deputy Director of State-owned Assets Supervision and Administration Commission of Guangzhou Municipal Government

On behalf of State-owned Assets Supervision and Administration Commission of Guangzhou Municipal Government ("SASAC GZ"), Deputy Director Cui Yanlun expressed warm congratulations on successful unveiling and completion of the shareholding system reform of Guangzhou Yuexiu Holdings Limited. He pointed out that Yuexiu Group's implementation of "mixed reform" will become an important event in the development of China's capital market, and will also become a typical case of local governments' support for deepening the reform of state-owned enterprises and financial enterprises' support for lowering leverage of the real economy, which has great symbolic significance and demonstration effect. The relationship between Guangzhou State-owned Assets System and Industrial and Commercial Bank of China will be closer. It is of great significance to serve Guangzhou's “1+1+4” strategic deployment and play its core engine role of Greater Bay Area. He said that SASAC GZ will continue to support qualified municipal enterprises to implement system and mechanism innovations, and also hope that ICBC Investment will continue to pay attention to opportunities in the process of reforming the state-owned assets of Guangzhou and achieve a win-win situation with Guangzhou state-owned enterprises.

 

Speech by Zhang Zhaoxing, Chairman of Yuexiu Group

Chairman Zhang Zhaoxing pointed out in his speech at the unveiling ceremony that today's unveiling marks the final stage of Yuexiu Group's "mixed reform". The completion of the shareholding system reform is of great significance to the group. First, it is conducive to the group to complete the work of debt to preferred shares. Next, the group will launch the issuance and subscription of debt to preferred shares with ICBC, which will become an important event in the development of China's capital market and a vivid model for the reform of state-owned enterprises. Second, it is conducive to the introduction of strategic investors and capital operations. The group's financing channels will be further broadened, making it easier to conduct equity financing and introduce strategic investors, which will bring positive financial and strategic impact to the group. Third, it is conducive to the further expansion of the group. The group will become a large-scale comprehensive state-owned enterprise across the primary, secondary and tertiary industries, connecting domestic and overseas, with rich industries and improved company image. Fourth, it is conducive to strengthening the management of enterprises. Modern management system will be strengthened, and enterprise management will be more scientific and standardized. Chairman Zhang pointed out that facing the future, there are still a series of reform and development tasks waiting for us to complete, such as promoting high-quality development and becoming an important platform company for the Greater Bay Area construction. The group will adhere to the core values of "constantly surpassing, beyond excellence", reform and innovation, transformation and upgrading, and take new responsibilities in the new era to realize the enterprise development to a new level.

 

Speech by Lu Shengdong, Vice President of ICBC Investment

On behalf of ICBC Investment, Vice President Lu Shengdong expressed warm congratulations on the establishment of Guangzhou Yuexiu Holdings Limited. He pointed out that the establishment of a holdings limited will inspire the new vitality of Yuexiu Group and form new kinetic energy, which is a milestone for the development of the group. Lu Shengdong, vice president of Yuexiu group, also expressed warm expectations for the future of Yuexiu group. He said that ICBC investment and Yuexiu group jointly launched the country's first dual non enterprise debt to preferred stock and was approved successfully. It is an important cooperation between central financial enterprises and local state-owned enterprises, a model of the integration of industry and finance, and will become a benchmark of the nationwide market-oriented debt to equity business, with an important leading role. Vice President Lu Shengdong also expressed warm expectations for the future of Yuexiu Group. He said that ICBC Investment and Yuexiu Group jointly launched the country's first non-listed and non-public limited company debt-to-preferred shares and was successfully approved. It is an important cooperation between central financial enterprises and local state-owned enterprises. It is a model of integration of industry and finance and will become a nationwide benchmark of market-based debt-to-equity business which has an important leading role.

Unveiling ceremony

Subsequently, Cui Yanlun, deputy director of SASAC GZ, Zhang Zhaoxing, chairman of Yuexiu Group, Gao Dongwang, General Manager of Guangzhou State-owned Capital Operations Holdings Co., Ltd.("GOFA"), and Lu Shengdong, Vice President of ICBC Investment jointly unveiled the brand of Guangzhou Yuexiu Holdings Limited. Liu Chuangguang, Deputy Group Leader of the Sixth Inspection Group of the Municipal Party Committee, attended the unveiling ceremony. More than 50 leaders from GOFA, relevant members of the Group's leadership team, external directors, supervisors and middle-level and above management of the Group attended the establishment conference and unveiling ceremony.