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中国神华: 中信证券股份有限公司关于中国神华能源股份有限公司发行股份及支付现金购买资产并募集配套资金暨关联交易产业政策和交易类型之独立财务顾问核查意见
Zheng Quan Zhi Xing· 2025-08-15 15:17
Core Viewpoint - China Shenhua Energy Co., Ltd. plans to issue A-shares and pay cash to acquire assets from China Energy Investment Corporation, which includes coal, pit coal power, and coal-to-oil and coal-to-gas chemical assets, while also raising matching funds through A-shares [1][2] Group 1: Industry and Company Overview - The industry classification for China Shenhua is "B06 Coal Mining and Washing Industry," and the target company's classification includes "B06 Coal Mining and Washing Industry," "D44 Power and Heat Production and Supply Industry," and others, which do not fall under the key supported industries for mergers and acquisitions as per the China Securities Regulatory Commission [1][2] - China Shenhua is a leading integrated energy company based on coal, operating in six major sectors: coal, electricity, coal chemicals, railways, ports, and shipping, implementing a cross-industry and cross-sector vertical integration development model [2][3] Group 2: Transaction Details - The transaction involves the issuance of A-shares and cash payment for the acquisition of assets, which is confirmed to involve the issuance of shares [4] - The transaction does not constitute a restructuring listing as there has been no change in control within the last 36 months, and the actual controller remains the State-owned Assets Supervision and Administration Commission of the State Council [3][4]