Sou Hu Cai Jing·2025-07-18 07:43Group 1 - Shanghai Microelectronics' reverse listing has entered a critical stage, with potential candidates primarily from Shanghai State-owned Assets Supervision and Administration Commission [2] - The leading candidates for the reverse listing include Haili Co., Ltd. (600619), Huajian Group (600629), Shanghai Mechanical and Electrical (600835), and Zhangjiang Hi-Tech (600895) [2][3] - Haili Co., Ltd. is currently the top speculation object due to its strong business synergy and management connections with Shanghai Microelectronics [3] Group 2 - The reverse listing progress is expected to be finalized in a special meeting in early July 2025, which may lead to significant stock price fluctuations [3][5] - The market anticipates that the valuation of Shanghai Microelectronics could reach 600 billion yuan, with the reverse listing potentially replicating a 60-fold increase in value [3] - Recent capital movements indicate that institutional investors, including social security funds and QFII, are increasing their stakes in potential shell companies [3][6] Group 3 - Haili Co., Ltd. has a market value of approximately 10 billion yuan, aligning with the "small market value, easy operation" requirement for reverse listings [3] - Huajian Group is the only listed platform under Shanghai State Investment, with a current market value of about 6.2 billion yuan, making it a suitable candidate for asset injection [3][6] - The regulatory environment has been favorable, with new rules simplifying the approval process for major asset restructurings, potentially reducing the approval cycle to 30 working days [3]