China Xidian and some subsidiaries of State Grid were approved for restructuring

2021-09-15: [Original Article Link].

The 100 billion-level new central enterprises in the field of transmission and distribution equipment manufacturing were born. A reporter from The Economic Information Daily learned that China XD Electric Co., Ltd. announced on September 14 that it received a notice from the controlling shareholder, China XD Group Co., Ltd. (hereinafter referred to as "China Xitian Group") on the same day, after research by the State-owned Assets Supervision and Administration Commission of the State Council and submitted to the State Council for approval, it was agreed that China West Power Group and the State Grid Corporation of China have been reorganized and integrated, A new company established by the State-owned Assets Supervision and Administration Commission of the State Council to perform the duties of investors on behalf of the State Council, Xu Ji Group Co., Ltd., Pinggao Group Co., Ltd, jiangsu Nanrui Hengchi Electric Equipment Co., Ltd., Jiangsu Nanrui Taishida Electric Co., Ltd., held by Shandong Electric Electric Group Co., Ltd. and State Grid Electric Power Research Institute Co., Ltd, the equity of Chongqing Nanrui Borui Transformer Co., Ltd. is divided into the new company as a whole. Public information shows that China Xidian Group is the only a complete power transmission and distribution enterprises as the mainstay industry of central State-owned enterprises, has China XD, bao guang gu fen 2 listed companies. In accordance with its 2016, du financial revenues and expenditures, audit results and 2019, the report, data computing, as well as its 2019, Total assets in 40 billion yuan. "The reorganization of these power equipment companies is an important measure for the power system to optimize the industrial chain, upgrade the value chain, and build an innovation chain, it is also an important measure to promote the regional and cross-regional optimal allocation of state-owned capital in deepening the reform of state-owned assets and state-owned enterprises." The Party School of the Central Committee of the Communist Party (National School of Administration) researcher Zhang Chunxiao said.

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