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Industry and finance combined with the return of local guangzhou fund

In 2017, the guangzhou municipal government put forward the requirements of "two returns" to the guangzhou fund -- supporting the industrial transformation and upgrading of guangzhou and supporting the infrastructure investment in guangzhou. For more than a year, guangzhou fund has been closely following the "two returnees" to carry out various businesses. By investing in outstanding emerging enterprises, participating in the mixed reform of leading state-owned enterprises, and promoting various works such as special industrial funds, guangzhou fund has actively played the role of capital bond, assisted the local industrial transformation and upgrading, and made solid contributions to making guangzhou economy bigger, better and stronger.

On April 16, guangzhou metro design and research institute co., LTD. (hereinafter referred to as "metro design institute") held a general meeting of shareholders to consider and pass the ipo proposal. This move indicates that metro design institute has completed the decision-making process of the company's general meeting of shareholders, board of directors and board of supervisors for IPO declaration, which has laid a solid foundation for the final acceptance of listing guidance and IPO declaration of guangdong securities regulatory bureau, and has taken a crucial step towards the capital market.

Guangzhou industrial investment fund management co., LTD. (hereinafter referred to as "guangzhou fund") to participate in the investment of subway design institute, founded in August 1993, guangzhou metro group co., LTD., subsidiary, is engaged in urban rail transit, municipal, construction, environmental engineering, civil air defense planning, survey, design, research, consulting and other business, is a comprehensive class a design institute. As early as in the middle of 2018, metro design institute introduced 5 strategic investors through capital increase and share expansion (the total shareholding after investment is 10%). Guangzhou chuangzhi rail transit industry investment and development fund (limited partnership, hereinafter referred to as "chuangzhi fund") established by guangzhou fund is the only investment fund subject.

At present, the subway design institute has achieved the highest engineering design qualification, class a qualification of integrated design, at the same time with engineering investigation, geotechnical engineering, class a of engineering survey and hydrogeological serie b), engineering consulting, credit grade a (rail transportation, construction, municipal utilities engineering class-a consulting), urban and rural planning class a, class a qualifications of civil air defence works, main business includes urban rail transportation, municipal, construction and other fields of survey and design, planning, consulting, project general contracting, etc. In the future, with the help of capital, the company will further build itself into a first-class, open and pragmatic planning, investigation and design research enterprise in China, and promote the preservation and appreciation of state-owned assets.

"Fund +" leverages the development of local industries

The strategic investment in metro design institute is the latest example of guangzhou fund implementing the spirit of "two returns" in the past year.

In January, 2019, Beijing Dinghan Technology Co., Ltd. (300011 SZ, hereinafter referred to as "ding han Technology") announced that guangzhou fund management of guangzhou track traffic industry investment fund (hereinafter referred to as "men-only fund") through contract transfer, the transferee big shareholder and its concerted action person jointly held 9.12% stake in the company, complete the strategic investment of ding han Technology.

Rail transit industry is one of the key industries to promote the development of "high-end, high-quality and high-tech" industrial system in guangzhou during the 13th five-year plan period. Through this investment, the rail transit fund will carry out strategic cooperation and resource sharing with dinghan technology, guide high-quality rail transit enterprises and scientific and technological transformation achievements outside the city to settle in guangzhou, improve the layout of local rail transit industry chain, and help build the rail transit industry into a new pillar industry of 100 billion level in guangzhou.

"We have combed the guangzhou rail industry chain. In this chain, for the existing industries in guangzhou, we choose leading enterprises to increase investment, to help them become bigger and stronger; For the missing industries, we will introduce them through investment to fill the gaps in the industrial chain. This shows that guangzhou fund, through the combination of industry and finance and the "fund +" form of state-owned enterprises, plays a supporting role in building the rail transit industry cluster. Guangzhou fund in charge of the project an official said.

According to its disclosure, the CCRC fund has invested in four projects so far, with the actual landing amount of nearly 480 million yuan. The invested companies have invested in the headquarters and independent subsidiaries in guangzhou, and are expected to contribute over 10 billion yuan of output value and over 1 billion yuan of tax revenue to guangzhou in the future.

This is also an important practice of guangzhou fund in response to the requirements of the municipal party committee and the municipal government to support the transformation and upgrading of local industries and promote the integration of industry and finance.

Analysts pointed out that the real industry is the key support for guangzhou to build an important national central city, which is related to guangzhou's core competitiveness and development momentum. The industrial fund with the core of guiding fund and the function of leverage amplification will play an increasingly important role in the process of industrial transformation and upgrading in guangzhou.

At present, guangzhou has established several sovereign investment funds at the prefecture and district level, such as guangzhou fund, south guangdong fund, development zone fund and nansha fund. Taking guangzhou fund as an example, as a local sovereign fund, it always focuses on the mission of "facilitating the transformation and upgrading of local industries", strives to combine "policy orientation" with "market operation" organically, and creates a "fund +" mode that boosts the upgrading of local industries with capital as the power. By the end of 2018, through equity direct investment, management and guidance funds, and the establishment of special funds, guangzhou fund has established 191 funds in total, invested in 347 projects, promoted the listing of 13 enterprises, and participated in 55 listed companies.

"Guangzhou fund will give full play to the guiding function of state-owned assets industry, integrate social resources in multiple channels and with high efficiency, invest in quality enterprises in local strategic emerging fields in guangzhou, guide investment funds and quality enterprises to settle down in guangdong, and promote the development of local real economy in guangzhou. Guangzhou fund subsidiary kejin holdings, the relevant people said.

Investment "three combination" principle

In addition to rail transit industry, automobile industry, IAB (new-generation information technology, artificial intelligence, biomedicine) industry and cultural and creative industry are also key investment directions of guangzhou fund.

"As an emerging equity financing tool, local government investment funds must closely follow the policy direction and focus on industrial layout, and truly reflect its mission of promoting industrial transformation and upgrading, amplifying the guiding effect of government financial funds, and activating social capital," said a person in charge of guangzhou fund.

Around the city, for example, strongly advocated the IAB (a new generation of information technology, artificial intelligence, biological medicine) strategy, in conjunction with the guangzhou radio group set up a new generation of information technology industry development fund, cooperate with sany heavy industry to set up industrial Internet fund, sets up the artificial intelligence cooperation with innovation works, in cooperation with the China unicom set up industrial networking fund, to participate in the guangzhou cold spring harbor industries such as biomedical fund fund.

"Guangzhou fund has always adhered to the principle of 'three combinations' in project selection and capital investment, that is, combination with pillar industries in local cities, combination with key development industries proposed by the municipal sasac, and combination with leading industries of local leading enterprises. The person in charge said.

In addition to the direct investment projects and special fund, the fund trustee with guangzhou venture fund, emerging industry development fund, transformation and upgrading of industrial development fund, the ministry of industry and information industry development fund, seed industry development fund, etc., creatively set up "policy guide + platform services, market service" multi-level and correlation of guiding fund cooperation mode.

Among them, by the end of the first quarter of 2019, venture capital guiding funds had taken equity stakes in four sub-funds (two of which have been withdrawn), invested in 54 projects, and promoted 14 enterprises to enter the capital market. In addition, the subsidiary of emerging, the fund management industry development fund, the ministry of industry and information technology development fund, seed industry development fund, transformation and upgrading of industrial development fund, financial accumulated investment of more than 2.5 billion yuan, total equity set up more than 70 funds, attract social capital of nearly 14 billion yuan, nearly seven times the financial leverage magnification, financial capital amplification effect is obvious. Direct or indirect investment in nearly 250 projects.

It is important to note that the current Shanghai kechuang plate has been accepted by declaration enterprise, five is the emerging funds entrusted management guidance cooperation funds are investment projects, including the municipal development and reform commission director emerging industry development fund of fund investment Fang Bang electronic information science and technology, amethyst, light peak, and so on four projects; And the jinchen semiconductor project invested by the industrial and information development fund sub-fund under the charge of the municipal industry and information technology bureau. Among them, jingchen semiconductor is the first science and innovation board project accepted in China, and fangbang is the first science and innovation board project accepted in guangzhou.

"Blood transfusion" local entity enterprises

While keeping up with the development priorities of industrial policies, soe reform is also an important way to enhance the competitiveness of local enterprises. In this field, guangzhou fund has put forward a unique "mixed reform 2.0 mode", including four elements of fund investment, industry enabling, equity incentive and capital operation. Up to now, guangzhou fund has initiated the establishment of mixed fund or industrial fund with more than 10 state-owned enterprises, and set up fund groups for the reform of state-owned enterprises from four levels, including national fund, industry-level fund, enterprise-level fund and project-level fund, which has become one of the state-owned funds deeply engaged in the reform of state-owned enterprises in China.

For example, at the level of national fund, guangzhou fund has set up the guangzhou fund jointly with China guoxin central enterprise to operate guangzhou fund, with a total scale of 150 billion yuan, which is the largest single fund in guangzhou at present.

"The mission of guangzhou fund is to provide financial support for the transformation and upgrading of local industries in guangzhou, help state-owned enterprises in guangzhou to expand their main businesses, improve the discourse power of state-owned enterprises in key industries in guangzhou, and enhance the competitiveness of pillar industries in the national and even international markets," said the person in charge of guangzhou fund.

In addition, as the promoter of the development of strategic emerging industries in guangzhou, guangzhou fund has always carried out the investment thinking of the industrial chain, accurately excavated unicorns in the industry, and invested in a number of local unicorns in the future, such as cloud science and technology, radio and television measurement.

Among them, has just announced in October 2018 formally completed B + round guangzhou cloud from information technology co., LTD. (hereinafter referred to as "cloud technology"), mainly focus on computer vision and artificial intelligence, to undertake major projects the national development and reform commission (NDRC) artificial intelligence - based resources public service platform "artificial intelligence", is one of the national team and AI artificial intelligence industry industry tigers, is also one of the highest valuation artificial intelligence company in guangzhou.

Radio, film and television metrology is the largest, comprehensive, independent third-party measurement and testing service institutions, the service throughout the automobile, defense and military industry, aerospace, rail transit and other industries, the average annual growth rate of more than 40%, guangzhou is the only state-owned IPO project under review, small and medium-sized board in the queue no. 10; Qihua network and metro design institute have been included in the pilot enterprise scope of employee stock ownership in state-owned mixed-ownership enterprises.

We will innovate infrastructure investment and financing models

In addition to promoting industrial transformation and upgrading, it is also one of the important missions of guangzhou fund to innovate the mode of infrastructure investment and financing and support the urban construction of guangzhou.

Analysts pointed out that since article 43 changed the infrastructure investment model dominated by financing platforms, government investment funds have been playing an increasingly important role in promoting the formation of a new financing model dominated by social capital. In this model, the government investment fund, with its flexible, professional and cross-industry and financial advantages, can well respond to market changes and provide a strong impetus for the reform of infrastructure investment system.

By guangzhou city fund subsidiary funds, xinhua fund, the fund management of state ting in infrastructure projects in guangzhou has identified investment of nearly twenty billion yuan, successively invested in the city for the city, nansha port railway, ear clear support funds, water environment management, conghua injure plot housing projects, such as guangzhou city construction to provide strong financial security for.

Guangzhou fund also actively docking city railway investment group, city investment group and other investment and financing projects, has been invested in the city railway investment group, city investment group to invest 2.0345 billion yuan, 1.5 billion yuan, within the year plans to invest 10 billion yuan to the city investment group (has invested 1 billion yuan) to support the construction of various types of infrastructure in guangzhou.

This innovative financial model solves the key constraints of infrastructure investment, activates private capital and other types of funds to participate in such long-term, large-scale, public welfare and service investment projects, and realizes the complementary advantages of private capital and state-owned capital, risk sharing and benefit sharing.

"The city development fund will return to the goal of 'supporting infrastructure construction in guangzhou and supporting industrial development in guangzhou', and start to invest in state-owned platforms owned by the city to implement the decisions and arrangements made by the municipal party committee and the municipal government with practical actions." Lin yaojun, chairman of the city development fund, said, "under the overall arrangement of the municipal state-owned assets supervision and administration commission and the full support of the superior company, we aim to invest all the existing funds as soon as possible and in compliance with the law, and only seize the moment to connect and invest with the municipal state-owned enterprises. At the same time, we have carried out an inventory of past projects to collect funds, in order to eventually form a state life, xinhua fund 40 billion overall funds rolling out in an orderly manner, for the construction and development of guangzhou to provide important financial support.

"In the future, guangzhou foundation will always serve the industrial development layout of guangzhou as the guide, through the establishment of hybrid equity investment fund or direct investment, strengthen investment in high-tech enterprises with great growth potential, integrate and connect various resources, and help the development of the real economy. Under the guidance of the municipal party committee and the municipal government, more social forces will be gathered to invest in the field of innovation and entrepreneurship in guangzhou, injecting inexhaustible power into the in-depth development of the equity investment market in guangzhou and the development and growth of local enterprises in guangzhou. Guangzhou fund general manager liu zhijun said.

Source: finance