On January 10, China Communications Construction Co., Ltd. announced that the board of directors of the company had considered and approved the proposal for the reorganization and listing of China Communications Construction's spin-off subsidiaries.
In response to the above proposal, CCCC held the thirteenth meeting of the fifth session of the Board of Directors on January 10, at which the "About & lt; Proposal of China Communications Construction Company Limited on the Reorganization and Listing Plan (Revised Draft) of its Subsidiaries CCCC Highway Planning and Design Institute Co., Ltd., CCCC First Highway Survey and Design Institute Co., Ltd. and CCCC Second Highway Survey and Design Institute Co., Ltd.
At the same time, the announcement made it clear that, in view of the reorganization and listing of the company's proposed spin-off subsidiaries, such as the Public Planning Institute, the First Public Institute and the Second Public Institute, after careful assessment by the board of directors, the spin-off meets the relevant requirements of the Spin-off Rules for the domestic listing of the spin-off subsidiaries of listed companies, and is feasible.
Specifically, China Jiaotong Construction Stock was listed on the main board of the Shanghai Stock Exchange in 2012, which meets the requirement of "listed companies have been listed in China for three years".
At the same time, CCCC's net profit attributable to shareholders of the listed company after deducting the net profit of the subsidiaries to be split according to equity in the last three fiscal years is 41.695 billion yuan, not less than 600 million yuan, which meets the requirements.
In addition, CCCC is not prohibited from splitting under the Splitting Rules, and the three highway institutes to be split are not prohibited from splitting under the Splitting Rules.
CCCC is of the view that the Spin-off will help the Listed Company to highlight its main business and enhance its independence; after the Spin-off, the Listed Company and the subsidiaries to be split will comply with the regulatory requirements of the CSRC and the Stock Exchange on horizontal competition and related party transactions; if the Company is split and listed overseas, there will be no horizontal competition between the Listed Company and the subsidiaries to be split; After the Spin-off, the assets, finance and institutions of the Listed Company and the subsidiaries to be split are independent of each other, and there is no cross-appointment of senior management and financial personnel; after the Spin-off, there is no other serious defect in the independence of the Listed Company and the subsidiaries to be split.
浙公网安备33010802003254号