★价值创造为本 治理优化为基 战略升级为径 央国企强化市值管理加速估值重塑

Core Viewpoint - Central state-owned enterprises (SOEs) are actively implementing value management strategies to enhance their market capitalization and overall company value, transitioning from policy advocacy to practical execution [1][2][4]. Group 1: Central SOEs' Value Management Initiatives - Multiple central SOEs, including State Grid and China Huaneng, have held performance briefings emphasizing "value management" and "company value" as key themes [1]. - China Huaneng has increased its shareholding in its listed companies four times over the past two years, with a total market capitalization exceeding 300 billion yuan [2]. - China Electric Power Construction has set a core goal of addressing "net asset value issues" and is systematically advancing its value management plan [2]. Group 2: Local Government Support for Value Management - Local governments in Shanghai, Fujian, and Jilin have introduced policies to incorporate value management into the economic development strategies of state-owned enterprises [3]. - Shanghai's recent action plan aims to enhance the value management systems of state-controlled listed companies [3]. - Fujian's measures have integrated value management into the performance assessment of state-owned listed companies, marking a shift from "soft constraints" to "hard indicators" [3]. Group 3: Market Outlook and Future Expectations - Analysts predict that the value management efforts of central SOEs will accelerate in the second half of the year, particularly for those companies with net asset value issues [5]. - The ongoing value management initiatives are expected to create new opportunities for the revaluation of central SOEs in the capital market [4][5]. - Companies that actively engage in value management are likely to gain market favor, while those that do not may face increased pressure [6].