Hello everyone! I heard that the National Electric Power Construction Company is going to merge and reorganize to form a group company. I don’t know if this is true. I hope friends who know about it c

Hello everyone! I heard that the National Electric Power Construction Company is going to merge and reorganize to form a group company. I don’t know if this is true. I hope friends who know about it can tell me.

The reform plan for the separation of main and auxiliary power grids was approved

The separation of power grid auxiliary industries will be carried out together with the reorganization of the four major power auxiliary industry groups directly supervised by the State-owned Assets Supervision and Administration Commission. According to the previously disclosed plan, China Electric Power Engineering Consulting Group and Gezhouba Group will be reorganized into China Electric Power Engineering Group; Hydropower Consulting Engineering Group and Water Conservancy and Hydropower Construction Group will form China Electric Power Construction Group. Among them, the China Power Engineering Group Co., Ltd. that Gezhouba Group is expected to marry is an out-and-out "rich woman" because she has about 7 billion yuan in cash on her account.

The reform of the main and auxiliary power grid separation originally scheduled to be completed by the National Development and Reform Commission in 2010 has finally been officially launched. Reporters recently learned from the State Grid Corporation that one of the company's key tasks in 2011 is to promote the reform of separation of main and auxiliary power, and its relevant plan has been approved by the State Council.

The separation of the power grid's auxiliary industries is very likely to be paralleled by the reorganization of the four major power auxiliary industry groups. Gezhouba Group, the parent company of the listed company Gezhouba, is expected to merge with China Electric Power Engineering Consulting Group (referred to as "China Power Engineering"). According to our reporter’s understanding, China Power Engineering Group has accumulated approximately 7 billion yuan in cash from its operations over the years, and merging it with Gezhouba Group would be like marrying a “rich woman.”

The two new groups will have their own focus

According to the reporter’s understanding, the power grid auxiliary industry will be separated from China Electric Power Engineering Consulting Group, Gezhouba Group, and Hydropower Consulting Engineering Group, which are directly supervised by the State-owned Assets Supervision and Administration Commission. , Water Conservancy and Hydropower Construction Group, the four major power auxiliary industry groups were reorganized together: the first two were reorganized into China Electric Power Engineering Group, and the latter two were reorganized into China Electric Power Construction Group.

In addition, about 30 provincial-level power grid survey and design, hydropower, thermal power, power transmission and transformation construction and repair companies of the two major power grid companies, State Grid and China Southern Power Grid, will be divided into two. The new group will eventually form two comprehensive power construction groups with equal strength. China Electric Power Engineering Consulting Group and Hydropower Engineering Consulting Group are two major power design units. The former is the "overlord" in the field of thermal power engineering design, with six power design institutes in Northeast, East China, Central South, Northwest, Southwest and North China; while the latter is The "boss" in the field of hydropower engineering design has seven survey and design institutes in Beijing, East China, Northwest China, Central South China, Chengdu, Guiyang and Kunming. Gezhouba Group and Water Conservancy and Hydropower Construction Group are also two giants in the field of domestic hydropower construction. The "marriage" of these four companies will create two power "giants", each with its own focus, one for thermal power and the other for hydropower.

Relevant persons from the State-owned Assets Supervision and Administration Commission believe that through the optimization and reorganization of power design and construction enterprises, a central power construction group with strong international competitiveness can be cultivated. Moreover, this reorganization method also complies with the development requirements of the international general contracting business model, conforms to the current situation of central enterprises, takes into account the needs of power system reform and the reorganization of central enterprises, avoids secondary reorganization, and reduces resistance to reform. An insider of China Power Engineering told reporters, “Originally, we considered splitting our six major design institutes into two, but later changed the idea to transfer the entire group. The state wanted the two new large groups to develop in a differentiated manner. In response to the Don’t fight with each other when contracting foreign projects.”

On May 27, 2010, the State Council approved the reform committee’s opinions on the key tasks of deepening the economic system reform in 2010 and clearly stated: Complete the separation of main and auxiliary power grid enterprises. reform. However, due to the complexity of the separation of the main and auxiliary power grids and the reorganization of the four major power auxiliary industry groups, the work progress has been slow.

From what our reporter learned, some middle and senior managers of the four major auxiliary industry groups already know the basic framework of the reorganization. However, due to the complexity of the matters involved in the reorganization of central enterprises, progress is very slow. , currently all parties still operate independently with their original independent legal person status.

Regarding the latest progress of the reorganization, our reporter called Wang Jianping, general manager of China Electric Engineering, but Wang Jianping refused to be interviewed on the grounds that "it is not convenient to talk to you about this matter." The reorganization with Gezhouba Group and Water Conservancy and Hydropower Construction Group as the two main entities is expected to double the assets of both companies.

Taking the latter as an example, as of the end of 2009, the total assets of the Water Conservancy and Hydropower Construction Group reached 102.2 billion yuan, and the net assets were 15.6 billion yuan. It has 18 wholly-owned subsidiaries, 9 holding companies, and 2 joint-stock companies in various major regions in China. Industry insiders believe that the reorganized China Power Construction Group is expected to reach a net asset size of about 30 billion yuan.

For the Gezhouba Group, let alone the auxiliary assets of more than a dozen provincial companies that will be transferred to it, the China Power Engineering Group that it married is also an out-and-out "rich woman." A person from China Power Engineering revealed to this reporter, "The company has about 7 billion yuan in cash, which may be more than the State Grid Corporation of China. Since we are a design unit, we don't have much need for fixed asset investment, and we have accumulated a lot of money from operations over the years. A large amount of cash, and no investment channels. Facing the assessment of the State-owned Assets Supervision and Administration Commission and the pressure of maintaining and increasing value, the company is worried about such a large amount of money."

The above-mentioned people believe that Gezhouba Group happens to have a large number of projects that need funds. , which complements the advantages of CLP Engineering. "For example, Gezhouba has a real estate business that requires a lot of capital. Gezhouba also has a lot of investment talents who can increase the value of its assets. And we have money, so both parties have complementary advantages."

Gezhouba Group successfully completed the transaction in September 2007 Realize the overall listing of main business assets. The three main businesses of the listed company Gezhouba are: construction engineering and related engineering technology research, survey, design and services, hydropower investment, construction and operation, and real estate development and operation. Focusing on the three main businesses, an industrial chain with closely connected and coordinated development of six major sectors including construction, highway operation, cement production, civil blasting, real estate and finance has been formed.

It can be seen that Gezhouba is close to a comprehensive investment holding company, especially its real estate development business is developing rapidly. It is one of the 16 central enterprises with real estate as its main business identified by the State-owned Assets Supervision and Administration Commission of the State Council, with thousands of acres of real estate land bank. A series of high-end commercial and residential properties with an area of ??more than 3 million square meters, including the "Gezhouba Tower" in Pudong, Shanghai, the tallest building in central China, "Gezhouba International Plaza" in Wuhan, "Gezhouba Century Garden" in Wuhan, and "Jinxiu Tianxia" in Yichang, have been or are under construction or sale. middle.

China Power Engineering is a high-quality asset with strong profitability. It is the vanguard and "national team" in my country's power survey and design industry. It has domestic leading advantages in the cutting-edge technologies of survey and design such as nuclear power conventional islands, clean coal power generation, and ultra-high voltage AC and DC power transmission and transformation. It has completed the survey and design work for a large number of domestic power generation projects and power transmission and transformation projects, and has undertaken more than 200 power projects in more than a dozen countries. The design unit invests very little in fixed assets, but has huge profits, low asset-liability ratio, and high return on net assets. It is a typical "fat pig" enterprise