媒体视角 | 促进产业并购整合 培育壮大新质生产力 上交所推动央国企进一步发挥引领作用

Core Viewpoint - The article emphasizes the importance of state-owned enterprises (SOEs) in driving high-quality development through technology innovation and industry integration on the Sci-Tech Innovation Board [1][2]. Group 1: Industry Mergers and Acquisitions - SOEs are accelerating the cultivation of new productive forces by actively engaging in mergers and acquisitions on the Sci-Tech Innovation Board [2]. - In January 2025, China Telecom's subsidiary, Quantum Group, officially took over "the first stock in quantum communication," Guoshield Quantum, to build new industry synergies in the quantum communication field [2]. - In 2024, Zhongke Star Map and its subsidiaries acquired seven companies to enhance their industry chain and broaden application areas, reinforcing a dual-driven development model of "internal growth + external expansion" [2]. Group 2: Quality Improvement and Efficiency - Improving the quality of listed companies is fundamental for the long-term healthy development of the capital market, with SOEs playing a leading role [3]. - Nearly 40 SOE companies on the Sci-Tech Innovation Board disclosed their annual action plans for "quality improvement and efficiency enhancement" in 2024 [3]. - SOEs have established a good benchmark for investor returns, with many maintaining a cash dividend ratio exceeding 20% and repurchasing nearly 100 million yuan worth of stocks in recent years [3]. Group 3: Market Value Management - Effective market value management requires enhancing internal operational efficiency and improving external communication with investors [6]. - SOEs are encouraged to strengthen their internal capabilities and improve operational quality to gain market and investor recognition [6]. - A representative from an SOE shared that their company established a market value management leadership group and improved information disclosure, leading to positive outcomes in market performance and institutional holdings [6]. Group 4: Future Support and Policy Implementation - The Shanghai Stock Exchange will continue to support SOEs in enhancing operational quality and increasing social value [4][7]. - The exchange plans to implement policies such as the "Eight Measures for the Sci-Tech Innovation Board" and "Six Measures for Mergers and Acquisitions" to optimize institutional inclusiveness and adaptability [7].