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On March 31, with the approval of the State Council, Sinochem Group Co.
, Ltd.
(hereinafter referred to as "Sinochem Group") and China National Chemical Corporation (hereinafter referred to as "ChemChina") implemented a joint reorganization, and the new establishment was under the State-owned Assets Supervision and Administration of the State Council.
The committee will represent the State Council to perform the duties of a new company as an investor, and Sinochem Group and ChemChina will be included in the new company as a whole
.
This joint reorganization will better integrate resources, exert synergies, build a world-class comprehensive chemical enterprise, and promote the high-quality development of China's chemical industry
.
The chemical industry is the basic and pillar industry of the national economy and an important sector of the modern economic system
.
In recent years, international chemical giants have promoted restructuring and integration.
The world's developed economies have large-scale comprehensive chemical companies that play an important leading role in basic chemical research and development, new product creation, and value creation in the industrial chain
.
This joint reorganization and establishment of a new company will help to build an industry-leading comprehensive chemical group, accelerate the supply-side structural reform of the chemical industry and the transformation and upgrading of the industry; it will help to further optimize the allocation of corporate resources and form an organic industrial chain.
Collaborate and complement each other, enhance scientific and technological research and development and innovation capabilities, and release enterprise vitality
.
After the reorganization, the new company will continue to thoroughly implement the innovation-driven development strategy, adhere to the concept of "science first, integration of knowledge and action", adhere to a globalized and market-oriented operation model, and devote itself to creating a "life science and material science-led, foundation-based business model".
A world-class integrated chemical enterprise supported by chemical industry, guaranteed by environmental science, driven by science and technology and sustainable development”, creating greater value for customers, shareholders and employees, and promoting sustainable social development
.
Taken together, after the merger of Sinochem Group and ChemChina, the total number of employees will exceed 200,000, and the asset size and annual sales will exceed one trillion RMB, making it the largest chemical company in the world!
The new company's assets will reach trillions
The new company's assets will reach trillionsAccording to the company's official website, Sinochem Group was established in 1950, formerly known as China National Chemical Import and Export Corporation, and is now an important state-owned backbone enterprise supervised by the State-owned Assets Supervision and Administration Commission of the State Council.
Headquartered in Beijing, it will be listed in the Fortune Global 500 list in 2020.
Single 109th
.
The group has set up five business divisions of energy, chemical industry, agriculture, real estate and finance, and professionally operates more than 300 operating institutions at home and abroad.
"China Jinmao" (HK, 00817) and other listed companies have nearly 60,000 employees worldwide
.
According to the official website of China National Chemical Corporation, ChemChina is a state-owned enterprise established on the basis of the former Ministry of Chemical Industry.
.
The company's business segments include new chemical materials and special chemicals, agrochemicals, petroleum processing and refining products, rubber tires, chemical equipment and scientific research and design.
It has production and R&D bases in 150 countries and regions around the world, and has perfect marketing.
network system
.
According to Wind data, the 2019 annual report shows that ChemChina's total assets are 843.
962 billion yuan, and its revenue is 454.
346 billion yuan
.
962 billion yuan, and its revenue is 454.
346 billion yuan
.
According to data from the official website of Sinochem Group, as of the end of 2018, the company's total assets were 489.
7 billion yuan, and its revenue for the year was 591.
1 billion yuan
.
The reorganization has already begun to take shape in the last year
The reorganization has already begun to take shape in the last yearIn fact, the reorganization of the two giant state-owned enterprises began as early as last year
.
At the beginning of 2020, several controlled and listed subsidiaries of the two companies announced at the same time that ChemChina and Sinochem Group are planning a strategic reorganization.
The specific content of the reorganization plan and its implementation are still subject to relevant approval and regulatory procedures
.
Before the group plans to reorganize, the subsidiaries of the two companies have been integrated first
.
On the evening of January 5, 2020, Sinochem Group and the four listed agrochemical subsidiaries of ChemChina announced that they would transfer the assets of the four companies to Zhongnong Technology to complete the integration of the “two industrializations” agricultural business, while Zhongnong Technology It will also be renamed Syngenta Group Co.
,
Ltd.
On June 18, Syngenta Group, the world's largest agrochemical company, announced its official establishment, marking the end of the merger of the "two chemical and chemical" agrochemical sectors
.
The new company covers life sciences, material sciences, basic chemicals, environmental sciences, rubber tires, machinery and equipment, urban operations, industrial finance and other business fields.
Competitiveness, especially in application fields such as construction, transportation, and the new generation of information industry, break through the bottleneck of key materials and provide comprehensive solutions for chemical materials; in the field of agriculture, provide high-level agricultural materials and comprehensive agricultural services to promote China's agricultural transformation and upgrading; In the field of chemical environmental protection business, vigorously promote energy conservation and emission reduction, and contribute to the realization of China's carbon peak and carbon neutrality goals
.
Ning Gaoning said that Sinochem Group and China National Chemical Corporation, one is an old foreign trade enterprise, the other is a subsidiary of the former Ministry of Chemical Industry
.
In the face of the current international and domestic situation and changes in market demand, as well as the need for product and technology improvement, the two companies are facing a situation of transformation
.
In the future, we will benchmark high-quality international large-scale chemical enterprises, not only in terms of scale, but also in innovation to reach the world's advanced level
.
"At present, Sinochem Group and ChemChina together, the sales brought by original and high-tech products are less than 30%, and this ratio needs to be gradually increased
.
" Ning Gaoning said that Sinochem Group put forward the slogan of "science first" , there is no new technology, no investment, no new product, no needless mergers and acquisitions and scale expansion, but completely take technological innovation and progress as the main development standard
.
At the same time, it is hoped that in the future, it will not only be able to reach the world's advanced level in terms of scale, but also in terms of innovation
.
In the future, Sinochem Group and ChemChina will actively and steadily advance this joint reorganization in accordance with relevant laws and regulations and the requirements of regulatory agencies
.
