Huan Qiu Lao Hu Cai Jing·2025-12-29 06:54Core Viewpoint - State Grid Yingda announced the sale of its wholly-owned subsidiary Yingda Futures to China Oil Capital for approximately 1.129 billion yuan, aiming to focus on its core business and optimize its business structure [1][2] Group 1: Transaction Details - The transaction has received approval from the State-owned Assets Supervision and Administration Commission of the State Council [1] - Yingda Futures, established in 1996, has a registered capital of 658 million yuan and is primarily engaged in securities brokerage, investment consulting, and futures IB business [1] - The sale is expected to enhance cash flow for State Grid Yingda and support its strategic transformation [1] Group 2: Financial Performance - Yingda Futures reported a revenue of 101 million yuan and a net profit of 1.23 million yuan for 2024, indicating ongoing operational pressure [1] - In the first quarter of the current year, Yingda Futures achieved a revenue of 19.22 million yuan but incurred a net loss of 1.043 million yuan [1] - The company's net asset value was recorded at 1.043 billion yuan as of the end of March [1] Group 3: Market Context and Future Implications - The transaction allows China Oil Capital to directly hold a futures license, enhancing its financial service capabilities in the energy and chemical sectors [2] - The deal is part of a broader strategy to deepen collaboration between the two state-owned enterprises, with a planned transfer of shares from China National Petroleum Corporation to State Grid Yingda [2] - This share transfer will establish a more stable equity relationship and cooperation foundation between the two companies [2]