East Group(SZ:300376) Mei Ri Jing Ji Xin Wen·2025-12-09 13:36Core Viewpoint - ST Yishite (SZ300376) announced a share transfer where Guangdong Hengrui and Oriental Group will sell 17.93% and 0.72% of their shares to Hubei Jingjiang Industrial Investment Group, making Jingjiang the controlling shareholder of ST Yishite, reflecting a trend of local state-owned enterprises acquiring listed companies in the A-share market [2][6][7]. Group 1: Share Transfer Details - The share transfer agreement was signed on December 8, with Jingjiang acquiring approximately 4.34 billion shares, representing 18.66% of the total share capital of ST Yishite [3][6]. - The transfer price is set at 5.61 yuan per share, which is a discount of approximately 6.19% compared to the closing price of 5.98 yuan on the same day [6]. Group 2: Background of the Acquisition - This transaction marks the sixth control acquisition of a listed company by Hubei state-owned assets in 2023, indicating a broader strategy of local state-owned enterprises to consolidate control over listed companies [2][7]. - Hubei state-owned enterprises have been actively acquiring multiple A-share listed companies, including notable cases like Guanfu Shares and Chaozhuo Hangke [7][8]. Group 3: Strategic Implications - The acquisition aims to introduce industry and promote the securitization of state-owned assets, which are key motivations for local state-owned enterprises pursuing listed companies [2][9]. - The focus on asset securitization has been emphasized in recent government meetings, highlighting its importance for improving asset structure and operational efficiency [10]. Group 4: Challenges Ahead - The successful integration and development of the acquired companies pose significant challenges, as evidenced by the mixed performance of previously acquired companies by Hubei state-owned enterprises [11][13]. - Analysts have noted that while acquisitions are a step forward, ensuring the sustained growth and profitability of the acquired entities remains a critical test for local state-owned enterprises [11][13].