This merger and reorganization is a major decision made by the Beijing Municipal Party Committee and Municipal Government on the development of the capital construction enterprises in the new era. It is a major measure to further deepen the reform of state-owned enterprises, promote the high-quality development of capital construction enterprises, and comprehensively enhance the core competitiveness of municipal construction enterprises.
Editor’s note: This article is from China Net Real Estate,Editor: Cui Ruiting, authorized to reprint
On November 12, Beijing Minsheng Group announced that on November 7, 2019, the State-owned Assets Supervision and Administration Commission of the Beijing Municipal People’s Government issued the “About Beijing Urban Construction Group Co., Ltd. and Beijing Residence Group Co., Ltd. Notice of merger and reorganization. According to the notice, after research and reported to the Beijing Municipal Party Committee and the Municipal Government for approval, the Beijing Municipal State-owned Assets Supervision and Administration Commission decided to implement the merger and reorganization of Beijing Urban Construction Group Co., Ltd. and Beijing Residence Group Co., Ltd.
Because the company’s controlling shareholder and actual controller are both the Beijing State-owned Assets Supervision and Administration Commission, the Beijing State-owned Assets Supervision and Administration Commission directly holds 100% of the company’s equity; the Urban Construction Group is a wholly-owned enterprise of the Beijing State-owned Assets Supervision and Administration Commission. After the reorganization, the Beijing State-owned Assets Supervision and Administration Commission remains the company. The actual controller, the urban construction group will hold 100% of the company’s equity, so the shareholders of Beijing Resident Group will be changed to Beijing Urban Construction Group.
According to the notification document, the Beijing State-owned Assets Supervision and Administration Commission transferred the state-owned assets of the Resident Group to the Urban Construction Group without compensation, and the Urban Construction Group exercised the role of the investor. The base date for asset transfer and accounting processing is September 30, 2019. The Resident Group retains its status as an independent legal entity and is restructured into a one-person limited company.
In addition, the Urban Construction Group should promptly handle asset transfer and change of industrial and commercial registration in accordance with the restructuring plan, amend the company’s articles of association, re-define the company’s development strategy plan, and actively promote asset restructuring, business integration, system reform and mechanism innovation.
Beijing Resident said that after the completion of the change of the controlling shareholder, the Resident Group still maintains an independent legal entity and will not have a material adverse impact on the company’s financial position and solvency.
This merger and reorganization is a major decision made by the Beijing Municipal Party Committee and Municipal Government on the development of the capital construction enterprises in the new era. It is a major step to further deepen the reform of state-owned enterprises, promote the high-quality development of capital construction enterprises, and comprehensively enhance the core competitiveness of municipal construction enterprises. Initiative. After this reorganization, it will help to build a leading enterprise in the pipe construction industry in Beijing, strengthen and expand the scale of the enterprise, increase the concentration, improve the operating efficiency, and further enhance the brand influence and industry status of the Beijing construction enterprise.
According to Beijing Daily’s earlier newsThe four state-owned enterprises in Beijing announced the merger and reorganization on November 7. Among them, Beijing Urban Construction Group Co., Ltd. and Beijing Residence Group Co., Ltd. implemented merger and reorganization, and Beijing Construction Engineering Group Co., Ltd. and Beijing Zhengluqiao Group Co., Ltd. implemented merger and reorganization.