中国中化集团旗下先正达集团传考虑明年赴港上市

Core Viewpoint - Syngenta, a Swiss agrochemical giant under China National Chemical Corporation, is in preliminary discussions with financial advisors for a potential IPO in Hong Kong in 2026, with plans to divest non-core and loss-making assets prior to the IPO [1] Company Background - Syngenta was formed in 2000 through the merger of the agricultural businesses of Novartis and AstraZeneca [1] - In June 2017, China National Chemical Corporation acquired Syngenta for $43 billion, marking the largest overseas acquisition by a Chinese company [1] - Syngenta Group Co., Ltd. was established in Shanghai in June 2019 to integrate agricultural assets from China National Chemical and China National Chemical Corporation [1] - The group became a core platform for the agricultural sector of China National Chemical after the restructuring in May 2021, with the actual controller being the State-owned Assets Supervision and Administration Commission of the State Council [1] IPO History - Syngenta Group submitted a listing application to the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2021, later shifting to the main board in 2023 with plans to raise 65 billion yuan (approximately $9 billion) [1] - The IPO was expected to be one of the largest in the Chinese market at that time [1] - The group withdrew its listing application in March 2024 due to significant market volatility, indicating a potential restart of the listing process when market conditions are favorable [1] Financial Performance - For the first three quarters of this year, Syngenta reported revenue of $20.9 billion, a year-on-year decline of 2%, while EBITDA was $3.4 billion, reflecting a year-on-year increase of 25% [1] - The revenue decline in the third quarter and the first three quarters was primarily attributed to the orderly contraction of China's grain and oil trade business [1]