Recently, the China Association of Listed Companies held a conference on "classic cases of mergers and acquisitions in the capital market in the past ten years". The case of China National Building Material Co., Ltd. "China National Building Material Co., Ltd. Absorbing and Merging China National Material Co., Ltd. Stronger and Better" was selected as "Ten Classic Cases of Capital Market Mergers and Acquisitions" and "Classic Cases of Capital Market Industrial Restructuring".
This activity is specially planned by the China Association of Listed Companies to implement the spirit of the State Council's Opinions on Further Improving the Quality of Listed Companies and the Three-year Action Plan for Promoting the Quality of Listed Companies (2022-2025) issued by the Securities Regulatory Commission. Focus on the selection of M & a and reorganization cases completed by listed companies in the ten years from 2012 to 2021, guide listed companies to standardize M & a and reorganization behavior, give full play to the role of capital market as the main channel of M & a and reorganization, revitalize stock, improve quality and efficiency, and transform development. The introduction of classic cases provides a display window for listed companies to achieve high-quality development through market-oriented mergers and acquisitions.
This review has received strong support and extensive attention from regulatory authorities, local associations, listed companies and market institutions, and 528 relevant cases have been collected. According to the characteristics of the case, the evaluation criteria are divided into four dimensions, namely, ① the background, purpose and fit with the national strategy of M & A; ② the highlights of the M & A plan; ③ the effect of M & A integration and ④ the market influence, etc., and refer to the opinions of the regulatory authorities, and finally reach a consensus through the overall planning of the expert evaluation groups. After comprehensive evaluation, the case of China Building Materials Co., Ltd. absorbing and merging China Building Materials Co., Ltd. stands out and is rated as "Ten Classic Cases of Capital Market Mergers and Acquisitions". On September 8,
2017, CNBM and Sinoma signed a merger agreement and announced a merger plan to exchange 0.85 shares of CNBM for every share of Sinoma, which is the largest share exchange M & a transaction of listed companies in the Hong Kong stock market in 2017. This reorganization is to further promote the structural reform of the supply side and implement the national "one belt and one way" strategy as the starting point, to ensure the preservation and appreciation of state-owned assets, release synergies, enhance the profitability of state-owned capital and international competitiveness as the foothold, promote the symbiosis and win-win situation of the industry, and set an example for the structural reform of the national supply side. Shareholders' recognition is high, and the passing rate of the shareholders' meeting is more than 99%, which is ahead of similar transactions in the previous market.
China Building Materials Co., Ltd. will continue to devote itself to building world-class material enterprises, creating world-leading listed companies in the field of materials, promoting the upgrading of basic building materials business to high-end, intelligent and green direction, and promoting the development of new materials business to high-end, mass production and globalization direction, so as to promote the development of new materials business. Promote the engineering technology service business to the direction of globalization, localization and diversification, constantly consolidate the leading position in the industry, enhance the international market competitiveness, and create greater value for shareholders!
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