The reform of state-owned assets and state-owned enterprises is advancing in depth, and the pilot program of state-owned capital operating companies is a vivid epitome of this reform.

  "Up to now, China Guoxin has invested more than 700 billion yuan in central enterprises, initially built an important platform for state-owned capital to flow across enterprises, change its form, and improve efficiency, and continuously promote the optimization of state-owned capital. Maintain and increase the value of state-owned capital. As of the end of May 2022, a total of 233 projects in strategic emerging industries with an amount of 263 billion yuan have been invested, covering 9 sub-sectors." Zhou Yubo, Secretary of the Party Committee and Chairman of China Guoxin Holdings Co., Ltd. As a state-owned capital operating company, China Guoxin will effectively maintain the security of state-owned assets, focus on supporting the technological innovation of central enterprises, deepen reform and "going out" to build an investment ecosystem, and actively play functions such as fund cultivation and incubation to promote a better innovation chain and industrial chain. Docking, help create a source of original technology, promote state-owned capital, drive social capital to serve the real economy, build a leading technology enterprise, and accelerate the creation of an upgraded version of state-owned capital operations.

Be a good "active shareholder"

  As a professional platform for the market-oriented operation of state-owned capital, it is China's natural responsibility and mission to serve the reform and development of state-owned assets and state-owned enterprises.

  "The intensive implementation of measures such as the professional restructuring and integration of state-owned enterprises and the reform of equity diversification has not only brought a large number of customers and market demands for the operating companies to carry out related businesses, but also put forward higher demands on the operating companies to help reform and lead innovation and development through capital operation. Request." Zhou Yubo said.

  Data shows that up to now, China Guoxin has invested more than 700 billion yuan in central enterprises, and more than 82% of the investment amount of China Guoxin’s Guoxin Fund has been invested in projects related to state-owned enterprises and central enterprises, supporting the reform, development, transformation and upgrading of state-owned and central enterprises.

  In terms of actively promoting the optimization of the layout and structural adjustment of the state-owned economy, China Guoxin has invested nearly 100 billion yuan in total, actively assisting the strategic reorganization and professional integration of central enterprises, such as participating in the establishment of the National Pipe Network Group, China Electric Equipment, and supporting Ansteel in restructuring its capital. Steel, China Green Development Co., Ltd. increased capital and shares, etc.

Cooperate with a number of central enterprises to build a business platform for "two non-profits and two capitals", set up a debt-to-equity swap fund, and launch a private securities investment fund focusing on central enterprises' investment, the New Pattern Fund, to help revitalize the stock assets of central enterprises.

Carry out professional equity operation, assist listed companies of central enterprises to strengthen value management, etc.

  In terms of assisting state-owned and central SOEs to promote reforms in key areas, China Guoxin has been a good "active shareholder", actively and steadily promoting mixed-ownership reform, and assisting the building of boards of directors of central SOEs.

  "China Guoxin directly participates in or leads social capital to support the mixed-ownership reform of central enterprises, leads a number of major mixed-ownership reform projects, and establishes a wind vane for state-owned enterprise reform and mixed-ownership reform." Zhou Yubo said that China Guoxin is a good "active shareholder". A total of 36 directors, supervisors, and senior executives have been dispatched to 8 central SOE group headquarters and 25 central SOE-affiliated enterprises to participate in decision-making on major matters such as asset restructuring, corporate mergers and acquisitions, loan guarantees, and related-party transactions.

It has successively served and guaranteed 82 full-time external directors to perform their duties efficiently in 85 central enterprises, and actively contributed to the deepening of the board building of state-owned central enterprises.

  In addition, in terms of serving the special projects for the reform of state-owned enterprises, China Guoxin has successively initiated the establishment of the National Reform Double Hundred Development Fund, the National Reform Science and Technology Fund, and the Comprehensive Reform Experimental Fund Group, with a total scale of 140 billion yuan, supporting 459 "Double Hundred Enterprises". And 209 "Science and Technology Reform Demonstration Enterprises".

  "As of the end of 2021, Guoxin Fund has promoted the investment enterprises to complete more than 340 comprehensive reform projects. Among the invested enterprises, 27 are leading enterprises in subdivision fields, 10 are the source of original technology or enterprises with long-term industrial chains, 4 The company has entered the top ten in the world or the first in the country." Zhou Yubo said.

  Anchoring the positioning of "actively serving and supporting the deepening of reform of central enterprises", China Guoxin has continued to become stronger, better and bigger in the process of collaborative cooperation and win-win development.

By the end of 2021, the company's total assets reached 670 billion yuan, and its net profit exceeded 20 billion yuan.

In 2019 and 2020, the person in charge of central SOEs has been awarded Grade A for the first time in the assessment of the business performance of the person in charge of central SOEs.

  "Focusing on building an upgraded version of state-owned capital operation, we will continue to focus on central enterprises, serve them, and push forward the pilot operation of the company." Zhou Yubo said.

Accurate force of technological innovation

  As an important starting point for capital operation, Guoxin Fund is making full efforts in implementing national strategies and increasing investment in scientific and technological innovation.

  Data shows that as of the end of May 2022, Guoxin Fund has invested in more than 200 projects, with an investment amount of nearly 120 billion yuan, and the amount invested in strategic emerging industries accounts for nearly 80%.

  In the investment map of Guoxin Fund, "specialized and special new" champion enterprises, key core technologies and innovative projects of central enterprises are the key investment objects.

  Guoxin Fund cultivates and supports a number of invisible champions in the sub-sectors that have been selected into the "Little Giants" list of the Ministry of Industry and Information Technology, including the invested companies Luoyang Glass, Xi'an High Voltage Electric Appliance Research Institute, Guoneng Xinkong, Gaohong Zhilian Technology, etc.

In terms of key core technologies, it has invested in SMIC, a leading domestic integrated circuit chip manufacturing enterprise, Cambrian, a leading domestic smart chip enterprise, and Huafeng Measurement and Control, a leading chip testing equipment research and development enterprise.

  At the same time, to play the role of "State-owned Enterprise Reform Fund Investing in the National Team", Guoxin Fund led the investment in Sinosteel Luonai, and supported the company to successfully complete the shareholding system transformation and listed on the Science and Technology Innovation Board; participated in Liugong Group's mixed-ownership reform project to help it deepen reform and promote Liugong Group. The industrial group successfully achieved the overall listing; integrated the central land, invested in the aerospace technology Zhejiang Taizhou Rainbow UAV project; invested in the leading semiconductor material enterprises of central enterprises such as Research Semiconductor and CSSC Pairui Gas, and 716 unmanned boat R&D enterprises of CSSC. Strong support for central SOEs in technological research and capacity expansion.

Focusing on the key areas of strategic emerging industries with foundation, characteristics and advantages in the industrial chain of central enterprises, the company has invested in CNNC 23, XCMG Co., Ltd., Air China Cargo, CGNPC Wind Power, China Electronics Tower, Qingdao Gulf Chemical, Weichai Power and other companies are in a leading position in their respective industries.

  "As of the end of May 2022, China Guoxin has invested in 233 projects in strategic emerging industries with an amount of 263 billion yuan, covering 9 sub-fields." Zhou Yubo said that China Guoxin has invested in some "stuck neck" links or important industries. For projects such as "blocking points" and "difficulties" in the field and industrial chain, consciously increase investment and cultivation.

During the "14th Five-Year Plan" period, China Guoxin will use capital as a link to promote the accelerated integration of scientific and technological resources and industrial resources.

Take multiple measures to enhance risk prevention capabilities

  Investment is risky.

As a state-owned capital operating company, how to enhance the ability to prevent risks is one of the main problems China Guoxin faces.

  "China Guoxin must adhere to the investment philosophy of 'Four No Investments' and 'Five Holds', and strictly control the investment direction." Zhou Yubo introduced, "Four No Investments" means not investing if you can't understand it, not investing if you can't control it, and not investing enough. Don't invest if you can't afford it, don't invest if you can't afford it; "Five Holds" means holding on to the asset-light operation model, holding on to financial investment, holding on to the Guoxin investment ecosystem, holding on to the high end of the industrial chain, and holding on to the "stuck neck" of key core technologies link.

  In accordance with the concept of "three-point investment and seven-point management", China Guoxin strengthens all-round, continuous and dynamic management of projects after investment to ensure "well-invested, manageable, and stable retreat", and has built a set of risk management systems. Oriented, with process control as the carrier, legal compliance as the means, internal control as the node, and audit, discipline inspection, and patrol as the supervision of the risk prevention and control work system.

  At the same time, it strictly controls the investment review, conducts due diligence and income forecasting comprehensively, objectively and truthfully, improves the multi-dimensional decision-making support mechanism of business, finance and law, strengthens investment analysis and demonstration to effectively prevent investment risks, strictly conducts investment review, and the legal compliance department has the whole process Participate in project due diligence, agreement drafting and transaction negotiation to ensure that various investment activities operate in compliance with laws and regulations.

  In addition, Guoxin Capital, a subsidiary of China Guoxin, has made positive contributions to preventing and resolving major risks through means of commercial factoring, financial leasing, insurance brokerage, and financial technology.

  "In the next step, we will continue to improve the risk prevention and control system that adapts to the state-owned capital operation business, focus on preventing investment risks, resolutely guard the bottom line of no major risks, and promote the organic integration and efficient integration of intellectual capital, financial capital and industrial capital under the leadership of state-owned capital. Operation." Zhou Yubo said.

  Facing the future, on the new journey of building an upgraded version of state-owned capital operation, China Guoxin is working hard and perseveringly.

Zhou Yubo said that China Guoxin will always keep in mind the fundamental position of operating state-owned capital for the people, firmly establish a sense of home and country, and organically combine the operation of the common wealth of the people with the realization of the enterprise's own development, and develop in the achievement of "big self". Personal", and earnestly safeguard the security of state-owned assets.