Changchun High-tech (000661) became the first Shenzhen-listed company to target the spin-off of the Science and Technology Board.
On the evening of May 25, Changchun High-tech released a number of announcements, disclosing the spin-off of its subsidiary Changchun Baike Biotechnology Co., Ltd. to the Shanghai Stock Exchange Science and Technology Board Listing plan.
Introduction of the spin-off plan, through this spin-off, Changchun High-tech will focus more on genetic engineering drugs, proprietary Chinese medicines and real estate business; Biochem will rely on the SSE ’s scientific and technological innovation The independent financing of the board platform promotes the development of its own human biological vaccine research and development, production and sales business. The spin-off will further enhance the company’s overall market value and enhance the profitability and overall competitiveness of the company and its subsidiaries.
After the completion of the spin-off, the equity structure of Changchun High-tech will not change, and it will still control Bac Bio, and the financial status and profitability of Bac Bio will remain Will be reflected in the consolidated report of Changchun High-tech. At the same time, Changchun High-tech also said that the spin-off will result in the company’s holding of 100 grams of biological rights being diluted.
Public information shows that the main business of Changchun High-tech is R & D, production and sales of biopharmaceuticals and proprietary Chinese medicines, supplemented by real estate development, property management and real estate leasing, etc. . The main business of Biochem is mainly the research, development, production and sales of human biological vaccines. The main products include chickenpox vaccine, human rabies vaccine and nasal spray influenza vaccine.
Changchun High-tech believes that as an excellent domestic biovaccine company, the listing of Baike Biotechnology will help it continue to enhance its production and R & D capabilities, enhance its technical and innovative strength, and retain and Attracting high-level talents to meet the future strategic layout and development needs, at the same time help to improve the company’s overall market value and maximize the interests of shareholders; help to improve financing efficiency and give full play to the advantages of the subsidiary’s listing platform. Therefore, this spin-off will further consolidate the core competitiveness of Biochem in the field of human biological vaccines and promote the company’s sustainable development.
The spin-off plan shows that the purpose of this spin-off includes rationalizing the business structure, expanding financing channels, obtaining reasonable valuations, perfecting the incentive mechanism, and enhancing competitiveness. .
On December 13, 2019, the China Securities Regulatory Commission formally issued the “Several Regulations on the Pilot Subsidiary Listing of Subsidiary Subsidiaries of Listed Companies”, which fills in the previous spinoff of listed companies The regulatory gap that has been faced with listing in China. In practice, with the development of the capital market, some listed companies have adopted a diversified business strategy and set foot in new industries orIn order to realize the focus of business and the balanced development of different businesses, the industry has proposed to split some of its businesses and list it for independent listing.
After the door to split the listing of A-share companies opened, many listed companies have announced spin-off plans or plans. From the perspective of these plans, the Science and Technology Board and entrepreneurship Board is the most popular destination for spin-off.
According to the incomplete statistics of surging news reporters, there are at least 8 listed companies targeting the science and technology board, of which Changchun High-tech is the first listed company from Shenzhen the company.
Among the other companies from the Shanghai Stock Exchange, China Railway Construction (601186) is the first company to disclose the plan to list the spin-off subsidiary to go to the Science and Technology Board. The holding subsidiary of the demolition is China Railway Construction Heavy Industry Group Co., Ltd.
China Railway (601390) also released a plan on the evening of April 29, planning to spin off its subsidiary China Railway High-speed Railway Electrical Equipment Co., Ltd. to Shanghai Stock Exchange Science and Technology After the board is listed, HSR Electric will become another high-end equipment manufacturing platform listed by China Railway Group in addition to China Railway Industry (600528).
Shanghai Electric (601727) joined the team on May 18, the company ’s announcement shows that Shanghai Electric plans to spin off its subsidiary Shanghai Electric Wind Power Group The company was listed on the Science and Technology Board.
In addition, Liaoning Chengda (600739), Zijiang Enterprise (600210), Shengyi Technology (600183), Xiamen Tungsten Industry (600549) and other companies have also disclosed The plan to dismantle the subsidiary company and list it on the Science and Technology Board. Among them, Chengda Biology, a subsidiary of Liaoning Chengda, has been accepted by the Shanghai Stock Exchange.