京沪高速铁路公司IPO助推合资铁路公司股份制改革探究

IPO of Beijing-Shanghai High Speed Railway Co., Ltd. Boosting the Shareholding System Reform of Railway Joint Ventures

随着合资铁路项目的相继投产和运营,合资铁路公司的股权融资和治理建设显得十分必要,其股份制改革也就越来越迫切。通过分析京沪高速铁路公司IPO方案,从带头示范作用、并购铁路方式、公司治理方式、资产处置方式、委托运输管理、营业收入构成和股票市值管理等方面,总结京沪高速铁路公司IPO助推合资铁路公司股份制改革的启示,提出确立合资铁路公司股票发行主体地位、梳理合资铁路公司股份制改革思路、研究合资铁路公司股份制改革发展战略、完善合资铁路公司运输服务、拓展合资铁路公司产业链等股份制改革推进策略,以推动合资铁路公司股份制改革高质量发展。

As the operation of railway joint venture projects, the equity financing and governance of railway joint ventures become crucial and the shareholding system reform is urgent. The IPO plans of Beijing-Shanghai High Speed Railway Co., Ltd. were analyzed, based on which the enlightenments of IPO of Beijing-Shanghai High Speed Railway Co., Ltd. boosting the shareholding system reform were summarized from the aspects of leading demonstration role, railway merger and acquisition, company governance, asset disposal, entrusted transportation management, operational income composition, stock market value management, etc. Then, we proposed such plans for shareholding system reform, including establishing the dominant position of railway joint ventures in stock issuance, making clear the train of thoughts of shareholding system reform, investigating the development strategy, improving the transportation service, and expanding the industrial chain, with the hope of facilitating the high-quality advancement in the shareholding system reform of railway joint ventures.