沪市再现千亿并购 中国神华拟打包收购12家公司

Core Viewpoint - China Shenhua (601088.SH) plans to issue A-shares and pay cash to acquire assets from its controlling shareholder, China Energy Group, and its wholly-owned subsidiary, Western Energy, with a total transaction value of approximately 1,335.98 billion yuan [2] Group 1: Transaction Overview - The transaction involves 12 target companies across coal, coal power, and coal chemical sectors, aimed at enhancing the company's core business capacity and resource reserves [2] - The payment structure for the acquisition consists of 30% in shares and 70% in cash [2] - The total assets of the target companies amount to 2,334.23 billion yuan, with a net asset value of 873.99 billion yuan as of July 31, 2025 [2] Group 2: Financial Impact - The target assets are projected to generate a revenue of 1,139.74 billion yuan and a net profit of 94.28 billion yuan for the fiscal year 2024 [2] - The adjusted overall transaction price, considering a capital increase of 49.27 billion yuan in the chemical company, is set at 1,335.98 billion yuan [2] - Post-transaction, the company's coal reserves will increase to 6.849 billion tons, a growth rate of 64.72%, and the recoverable coal reserves will rise to 3.45 billion tons, a growth rate of 97.71% [3] - The coal production is expected to reach 512 million tons, reflecting a growth rate of 56.57% [3] - Earnings per share for 2024 is projected to increase to 3.15 yuan, an enhancement of 6.10%, while for the first seven months of 2025, it is expected to rise to 1.54 yuan, an increase of 4.40% [3]