On August 12, the joint restructuring plan of Shandong High Speed Group and Qilu Transportation Group revealed its clues. Shandong High Speed Group will absorb and merge Qilu Transportation Group and inherit all assets, liabilities, business, personnel, contracts, qualifications and all other rights and rights of Qilu Transportation Group. obligation. Qilu Transportation Group will write off.

On the evening of the 12th, Shandong Expressway announced the joint restructuring plan of the controlling shareholder Shandong Expressway Group and Qilu Transportation Group. The reorganization plan is planned to be implemented by the way that Shandong High-speed Group absorbs and merges Qilu Transportation Group. After the merger is completed, Qilu Transportation Group is cancelled, and Shandong High-speed Group continues to exist as a merged company. All assets, liabilities, businesses, personnel, contracts, qualifications, and all other rights and obligations of Qilu Transportation Group are inherited by Shandong High Speed Group. The subsidiary branches of Qilu Transportation Group and the equity or equity of subsidiaries held by Qilu Transportation Group belong to Shandong Express Group.

The reorganized Shandong Hi-Speed Group has a registered capital of 45.9 billion yuan, and the shareholding structure is that the Shandong Provincial State-owned Assets Supervision and Administration Commission, Shandong Guohui Investment Co., Ltd., and Shandong Provincial Social Security Fund Council hold 70%, 20%, and 10% of the shares respectively. Shandong Expressway's announcement shows that this plan does not involve the company's major asset restructuring, nor will it affect the company's normal production and operation activities, and will not cause changes in the company's controlling shareholders. Qilu Transportation Group has a Hong Kong-listed company Qilu Expressway. On August 12, Qilu Expressway stocks were temporarily suspended, "pending the publication of an announcement that constitutes the company's inside information in accordance with the company's acquisition and merger code."

In June, Qilu Transportation Group planned to take over Jinzhi Technology, a listed company in Jiangsu, and acquired 29.99% of the company's total share capital through transfer of its controlling shareholder shares and participation in fixed increase, at a cost of about 1.226 billion yuan. Shandong Highway Group also has a listed company, Shandong Road and Bridge. On the evening of August 12, Shandong Road and Bridge also disclosed an announcement that the controlling shareholder was planning a joint reorganization, which was similar to that disclosed by Shandong Highway. In addition, Shandong High Speed Group and Qilu Transportation Group both hold shares in Shandong Road and Bridge.

The merger information of Shandong Expressway Group and Qilu Transportation Group was officially announced on July 12, one month ago. On the same day, Shandong Expressway, Yanzhou Coal, Xinhua Medical, ST Geology and other listed companies under Yancoal Group, Shandong Expressway Group, and Shandong Energy Group issued announcements stating that the controlling shareholders are planning to reorganize. On July 13, the promotion of the reform of Shandong enterprises and the cadre meeting was held in Jinan. The merger of Shandong Expressway Group and Qilu Transportation Group is one of the landmark events in the reform of state-owned enterprises in Shandong Province. The newly formed Shandong Expressway Group is huge. The total assets of New Shandong High Speed Group are 939.3 billion yuan, and the total net profit in 2019 reached 7.858 billion yuan, ranking behind New Energy Group and Shandong Heavy Industry. After the reorganization, the chairman of the new Shandong High Speed Group will be the current chairman of Shandong High Speed Group Zou Qingzhong, and Zhou Yong will be the general manager. Regarding how to make good use of the assets of nearly one trillion after the merger, Zou Qingzhong told reporters on July 20 that the group’s assets are mainly fixed assets, which have low liquidity, large investment and long payback periods. There are four listed companies under the New Shandong Expressway Group. Through asset securitization, assets will be turned into funds to obtain more funds and better invest in infrastructure construction. Editor/Sang Xiaomei