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On June 30, the rumors of a merger between China National Chemical Corporation and Sinochem Group were finally confirmed.
China National Chemical Corporation Chairman Ren Jianxin announced his retirement, and Sinochem Chairman Ning Gaoning concurrently served as Chairman of China National Chemical Corporation.
It is understood that if Sinochem and China National Chemical Corporation successfully merge this time, it will be after China Power Investment and China National Nuclear Technology (State Power Investment), Shenhua Group and Guodian Group (National Energy Investment Group), China National Nuclear Corporation and China National Nuclear Construction (China National Nuclear Corporation).
The fourth reorganization of central enterprises in the energy industry.
Public information shows that Sinochem Group is my country's fourth-largest central petroleum enterprise, and its main business sectors include energy, chemicals, agriculture, and real estate.
In 2017, the operating income of Sinochem Group exceeded 500 billion yuan for the first time.
China National Chemical Corporation is my country's largest basic chemical manufacturing company, with its main businesses in six business segments, including new chemical materials and specialty chemicals, basic chemicals, petroleum processing and refining products.
Data show that in 2016, Sinochem Group's revenue was 395.
5 billion yuan, a year-on-year increase of 3.
9%, and its total profit reached 8.
07 billion yuan.
Compared with Sinochem's dazzling report card, China National Chemical Corporation's profitability is not ideal.
In 2016, China National Chemical Corporation's revenue was about 300 billion yuan, but its net profit was only 2.
5 billion yuan, with a net profit margin of less than 1%.
As of 2016, China National Chemical Corporation's total assets were approximately 377.
6 billion yuan, total liabilities were approximately 305.
8 billion yuan, and the debt-to-asset ratio reached over 80%.
According to industry insiders, although China National Chemical Corporation has a relatively high debt-to-asset ratio, if China National Chemical Corporation and Sinochem Corporation achieve a merger and can digest a series of high-quality acquisitions, the combined turnover of the two will exceed the 100 billion euro mark.
, To become the world's largest chemical company.
In fact, since October 2016, news of the merger of China National Chemical Corporation and Sinochem Group has been reported.
However, due to China National Chemical Corporation’s acquisition of Syngenta, the world’s largest pesticide company, the development of the merger of the two companies appears confusing.
In June 2017, China National Chemical Corporation formally completed a US$490 super merger and acquisition.
The total debt scale increased sharply, and the rumors of the merger of "Industrialization and Industrialization" were once again rampant.
In March 2018, Ning Gaoning stated that Sinochem has no plans to merge with China National Chemical Corporation.It is worth mentioning that Sinochem and ChemChina have strong business complementarities, mainly in chemical and agricultural businesses.
Sinochem Group is an important natural rubber producer and supplier in the world.
After China National Chemical Corporation completed the acquisition of Pirelli, an Italian tire manufacturer, in 2015, its tire production capacity has ranked first in China and 15th in the world.
This means that Sinochem has become an upstream enterprise of China National Chemical Corporation.
However, China National Chemical Corporation ranks third in the world in terms of rubber and plastic machinery manufacturing, and is an upstream company in Sinochem's natural rubber and rubber chemicals business.
In addition, in many chemical raw materials and chemical businesses, the two companies are closely linked.
Xu Baoli, a researcher at the Research Center of the State-owned Assets Supervision and Administration Commission, said that once the two central enterprises formally merge, it will be possible to achieve upstream and downstream integration at the business level, promote the further improvement of the company's industrial chain, and form a more stable transaction relationship than the current one.
.
However, how to efficiently synergize the two leading chemical companies with multiple sectors and multiple businesses, and how to effectively enhance market competitiveness after the merger, and how to integrate the upstream and downstream of the industrial chain more closely and completely, and how to form a more stable transaction relationship.
These are still to be discussed.
China National Chemical Corporation Chairman Ren Jianxin announced his retirement, and Sinochem Chairman Ning Gaoning concurrently served as Chairman of China National Chemical Corporation.
It is understood that if Sinochem and China National Chemical Corporation successfully merge this time, it will be after China Power Investment and China National Nuclear Technology (State Power Investment), Shenhua Group and Guodian Group (National Energy Investment Group), China National Nuclear Corporation and China National Nuclear Construction (China National Nuclear Corporation).
The fourth reorganization of central enterprises in the energy industry.
Public information shows that Sinochem Group is my country's fourth-largest central petroleum enterprise, and its main business sectors include energy, chemicals, agriculture, and real estate.
In 2017, the operating income of Sinochem Group exceeded 500 billion yuan for the first time.
China National Chemical Corporation is my country's largest basic chemical manufacturing company, with its main businesses in six business segments, including new chemical materials and specialty chemicals, basic chemicals, petroleum processing and refining products.
Data show that in 2016, Sinochem Group's revenue was 395.
5 billion yuan, a year-on-year increase of 3.
9%, and its total profit reached 8.
07 billion yuan.
Compared with Sinochem's dazzling report card, China National Chemical Corporation's profitability is not ideal.
In 2016, China National Chemical Corporation's revenue was about 300 billion yuan, but its net profit was only 2.
5 billion yuan, with a net profit margin of less than 1%.
As of 2016, China National Chemical Corporation's total assets were approximately 377.
6 billion yuan, total liabilities were approximately 305.
8 billion yuan, and the debt-to-asset ratio reached over 80%.
According to industry insiders, although China National Chemical Corporation has a relatively high debt-to-asset ratio, if China National Chemical Corporation and Sinochem Corporation achieve a merger and can digest a series of high-quality acquisitions, the combined turnover of the two will exceed the 100 billion euro mark.
, To become the world's largest chemical company.
In fact, since October 2016, news of the merger of China National Chemical Corporation and Sinochem Group has been reported.
However, due to China National Chemical Corporation’s acquisition of Syngenta, the world’s largest pesticide company, the development of the merger of the two companies appears confusing.
In June 2017, China National Chemical Corporation formally completed a US$490 super merger and acquisition.
The total debt scale increased sharply, and the rumors of the merger of "Industrialization and Industrialization" were once again rampant.
In March 2018, Ning Gaoning stated that Sinochem has no plans to merge with China National Chemical Corporation.It is worth mentioning that Sinochem and ChemChina have strong business complementarities, mainly in chemical and agricultural businesses.
Sinochem Group is an important natural rubber producer and supplier in the world.
After China National Chemical Corporation completed the acquisition of Pirelli, an Italian tire manufacturer, in 2015, its tire production capacity has ranked first in China and 15th in the world.
This means that Sinochem has become an upstream enterprise of China National Chemical Corporation.
However, China National Chemical Corporation ranks third in the world in terms of rubber and plastic machinery manufacturing, and is an upstream company in Sinochem's natural rubber and rubber chemicals business.
In addition, in many chemical raw materials and chemical businesses, the two companies are closely linked.
Xu Baoli, a researcher at the Research Center of the State-owned Assets Supervision and Administration Commission, said that once the two central enterprises formally merge, it will be possible to achieve upstream and downstream integration at the business level, promote the further improvement of the company's industrial chain, and form a more stable transaction relationship than the current one.
.
However, how to efficiently synergize the two leading chemical companies with multiple sectors and multiple businesses, and how to effectively enhance market competitiveness after the merger, and how to integrate the upstream and downstream of the industrial chain more closely and completely, and how to form a more stable transaction relationship.
These are still to be discussed.
