Xemc shares its parent company has provincial approval of reform plans within 3 years overall listing

Polaris solar PV net news: June 20, 2013 annual Conference xemc shares, at the meeting, an official of the company said, its parent company, Xiangtan electric Group programme of reform of State-owned enterprises by Hunan provincial State-owned assets supervision audit, are currently reported to the Hunan provincial party Committee for examination and approval. Approval is completed, Hunan electric group will gradually implement reform programmes, is expected to be completed within 3 years the overall market.

In addition, directional add-issuance programme adopted at the general meeting of shareholders of the company. Xemc shares intends to raise $ 1.7 billion yuan, advancing electric drive system of high-voltage energy efficient motors, high-end equipment development and application.

It is worth mentioning that, Hunan, Hunan electric group of controlling shareholders of shares + cash + land assets in debt securities will be taken private, Range Rover into a directional add-issuance of shares for 30%. Market analysis, which is xemc group as a whole to be ready for the future.

Earlier, reporters from the Hunan SASAC noted that, Hunan, Hunan reform of State-owned power group has been listed as one of the first batch of pilot companies, the reform programme and the implementation of the road will serve as a benchmark model of State-owned enterprises in Hunan.

In early April this year, Hunan Province issued the opinions on further deepening the reform of State-owned enterprises, puts further deepening the reform of State-owned enterprise of Hunan road map and timetable.

According to the Hunan provincial State-owned assets supervision requirements, breakthrough in this round of reform of State-owned enterprises in Hunan province are developing mixed ownership economy, hitting General Manager salary system reform, employee stock ownership, property rights, and many other “sensitive” issues. It is reported that according to the “business case” principle, majority group is developing a programme for reform of State-owned enterprises in Hunan province.

According to these sources, the reform direction of Hunan power group will gradually withdraw from non-core areas, in accordance with the national requirements implementing of mixed ownership. It is understood that the xemc group main 70% in Hunan electric shares, including core manufacturing supplies will be gradually injected into the listed companies, hospitals, schools and other tertiary industries will gradually split, followed by completion of the overall market.

Original title: xemc shares its parent company has provincial approval of reform plans within 3 years overall listing

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