加强市值管理、推动重组整合，央企负责人会议释放多重信号

Core Viewpoint - The central enterprises are focusing on improving operational quality and market value management, emphasizing strategic restructuring and high-quality mergers and acquisitions to enhance management effectiveness and investment potential by 2026 [1][5]. Group 1: Management and Quality Improvement - Central enterprises are required to enhance internal management, implement comprehensive budget management, and strengthen cost control across all aspects, including receivables, contract assets, inventory, and payables [1][5]. - The State-owned Assets Supervision and Administration Commission (SASAC) has issued guidelines to improve the market value management of state-owned listed companies, incorporating this into performance assessments for enterprise leaders [1][6]. Group 2: Strategic Focus Areas - Central enterprises are encouraged to focus on key sectors such as new energy, new energy vehicles, new materials, aerospace, low-altitude economy, quantum technology, and 6G, while also promoting technological upgrades and energy-saving transformations [2][6]. - During the 14th Five-Year Plan period, state-owned enterprises have restructured 10 companies in 6 groups through market-oriented methods, establishing new entities like China Star Network and China Electrical Equipment Group [2][6]. Group 3: Restructuring and Integration - The SASAC is promoting strategic and professional restructuring to enhance core functions and competitiveness, aiming to consolidate similar entities to avoid redundancy and foster innovation [3][7]. - Recent agreements among major enterprises in sectors like new materials and artificial intelligence highlight the ongoing efforts in professional integration and resource consolidation [3][7]. Group 4: Modern Enterprise System - There is a push to refine the modern enterprise system in China, enhancing management frameworks and deepening reforms to improve contract management for managerial staff and market-oriented employment models [4][8]. - The emphasis is on accelerating organizational changes and management processes, promoting a flatter and more intelligent structure while enhancing financial management capabilities [4][8].