SNIBE(SZ:300832) Zheng Quan Shi Bao·2025-11-23 21:46Core Viewpoint - The State-owned Assets Supervision and Administration Commission (SASAC) emphasizes the need for state-owned enterprises (SOEs) to leverage capital markets to enhance the integration capabilities of strategic emerging industries [1] Group 1: Policy Direction - SOEs are encouraged to explore the injection of non-core but growth-potential strategic emerging businesses into listed platforms of other core SOEs [1] - This policy provides a new pathway for optimizing the layout of strategic emerging industries within state-owned enterprises [1] Group 2: Investment Trends - During the 14th Five-Year Plan period, SOEs have significantly increased their investment in strategic emerging industries, with an annual growth rate exceeding 20% [2] - In 2024, the investment in strategic emerging industries by SOEs is expected to surpass 40% of total investments, with revenue contribution nearing 30% [1][2] Group 3: Development Challenges - Strategic emerging industries cultivated by SOEs face challenges such as resource dispersion and insufficient collaboration [2] - The injection of these businesses into other core SOEs' listed platforms is seen as a viable solution to overcome these development bottlenecks [2] Group 4: Future Outlook - The integration of SOEs in sectors like new energy, new materials, and advanced manufacturing is anticipated to become increasingly active [2] - Successful integration will depend on not just asset recombination but also the release of synergistic effects, requiring careful design of integration models and paths [2]