“中”字头盐业巨无霸A股IPO来袭，中盐股份上市辅导进入验收环节

Core Viewpoint - China Salt Industry Corporation (中盐股份) is preparing for an IPO that is expected to be significantly larger than previous salt industry IPOs, potentially reaching tens of billions, making it the largest in the A-share salt industry to date [2][13]. Group 1: IPO Preparation and Background - China Salt Industry Corporation has completed its listing counseling report and is one step away from formally submitting its IPO application after nearly two years of preparation [3][4]. - The company was established in 2013 as part of a mixed-ownership reform, and its valuation was close to 150 billion yuan during its restructuring in 2019 [5][6]. - The IPO is a crucial part of the company's mixed-ownership reform, which aims to enhance governance and operational efficiency [6][8]. Group 2: Strategic Investors and Shareholding Structure - The company has attracted 13 strategic investors during its mixed-ownership reform, including well-known firms like Kweichow Moutai and Wens Foodstuff Group, which hold 1.51% and 1.08% of shares, respectively [14][23]. - The actual controller, China Salt Group, holds 62.494% of the shares, while Guangdong Salt Industry Group is the second-largest shareholder with 6.98% [22]. Group 3: Challenges and Market Context - The IPO process faced delays primarily due to issues related to competition with other subsidiaries of the controlling shareholder, which could affect the company's operational independence [18][19]. - Recent favorable IPO policies and regulatory support for quality enterprises provide a timely opportunity for China Salt Industry Corporation to proceed with its IPO [25][26].