The Shanghai Stock Exchange has formulated a new round of comprehensive service arrangements for central enterprises, which includes promoting the valuation of central enterprises to return to a reasonable level through services. It encourages listed central enterprises to actively communicate with investors, enhance transparency, and organize guidance for various types of investors to visit, understand, and recognize central enterprises.11month21On the same day, Yi Huiman, Chairman of the China Securities Regulatory Commission (CSRC), stated that listed companies, especially state-owned ones, should further strengthen their public company awareness and proactively enhance investor relations management to enable the market to better understand the intrinsic value of enterprises. This is also an inherent part of improving the quality of listed companies.
What is the current valuation level of central and state-owned enterprises listed on the market across the entire market? How important is strengthening investor relations management in promoting the return of central enterprise valuations to a reasonable level? How do you view the recent intensive research by multiple institutions on state-owned listed companies? In the future, from which aspects should state-owned listed companies further strengthen investor relations management? Frost & SullivanFrost & SullivanJia Pang, Partner and Managing Director of Frost & Sullivan's Greater China Region (hereinafter referred to as 'Frost & Sullivan'), was interviewed by Securities Daily to discuss the aforementioned topics.
Securities Daily
Q
What is the current understanding of the valuation of state-owned enterprises (SOEs) and central enterprises listed on exchanges, including the State-owned Assets Supervision and Administration Commission (SASAC), the China Securities Regulatory Commission (CSRC), and stock exchanges? What is the current level of valuation for central and SOE listed companies in the entire market?
In terms of enterprise market value, central and state-owned enterprises with listed stocks account for a relatively large proportion, still serving as an important pillar of the national economy.
In terms of valuation levels, The valuation of central and state-owned enterprises listed on the stock market is currently at a low level, with the price-earnings ratio of central enterprise listed companies being belowAOverall average price-earnings ratio of stocks.
Q
In promoting the valuation of central enterprises to return to a reasonable level, what is the importance of strengthening investor relations management? How do you view the recent intensive research by multiple institutions on state-owned listed companies?
Strengthening investor relations management can enhance corporate transparency, help investors better understand the company, strengthen communication with shareholders, assist investors in understanding the company's business development strategy, and reveal the company's investment value. Investor relations management for listed companies is very important for promoting the valuation of central state-owned enterprises to return to a reasonable level. Intensive research by institutions on state-owned listed companies can effectively help state-owned enterprises increase their attention in the capital market. If an enterprise has investment value, it can help the enterprise improve its valuation level.
Q
In the future, how should state-owned listed companies strengthen investor relations management in other aspects?
Investor relations management is a systematic project that involves many aspects:
1Establish an effective investor relations management system and enhance the professionalism of investor relations management to ensure that investors' needs or issues can be accurately, timely, and clearly resolved;
2) Actively drawing on the experience of mature capital markets, many state-owned enterprises have already listed in the United States and Hong Kong. Their market-oriented investor relations management experience can be introduced into China;
3) Broaden the channels and methods of investor communication. In addition to traditional financial media, listed companies can adopt securities industry public relations (BR) and other more precise channels. At the same time, social media platforms such as WeChat official accounts and Weibo can also be utilized.APPEnhance interaction with investors through corporate accounts, etc.;
4Build a good investor relations management culture by having in-depth conversations with investors and analysts about the company's development strategy and corporate culture, thereby enhancing investors' recognition of the company's value.
*This interview was published in 'Securities Daily', with reporter Du Yumeng. The original article is titled ' Multiple parties work together to implement policies The valuation of central enterprise listed companies is expected to improve. >> (Click 'Read the Original Article' at the end of the text to read the full report).
