601088，重组预案出炉！下周一复牌

Core Viewpoint - China Shenhua (601088) announced a significant restructuring plan to acquire 100% equity of 10 companies held by its controlling shareholder, the State Energy Investment Group, along with stakes in Shenyan Coal (41%) and Jinshen Energy (49%), and to purchase 100% equity of Inner Mongolia Construction Investment from Western Energy for cash [1][2][3] Group 1: Transaction Details - The transaction involves the acquisition of 13 target companies across various sectors including coal, pit coal power, and coal chemical industries, with total assets amounting to 258.36 billion yuan and net assets of 93.89 billion yuan by the end of 2024 [2][3] - The expected revenue for the acquired assets in 2024 is projected to be 125.996 billion yuan, with a net profit of 8.005 billion yuan, and a non-recurring net profit of 9.811 billion yuan after excluding long-term asset impairment losses [2][3] Group 2: Strategic Implications - The restructuring is aimed at enhancing the integration of core assets, resolving business overlaps in coal, pit coal power, coal chemical, and logistics sectors, thereby improving the company's asset scale and profitability [3][4] - The transaction is expected to strengthen China Shenhua's position as a leading integrated energy company globally, contributing to national energy security and promoting high-quality development in the coal industry [4] Group 3: Profit Distribution Plan - China Shenhua plans to distribute profits for the mid-term of 2025, with the distribution amount being no less than 75% of the net profit attributable to shareholders for the first half of 2025, which is estimated to be between 23.6 billion yuan and 25.6 billion yuan [5][6]