国有资本收购民企情况分析及政策建议--以深市民营上市公司为例

Analysis of the Acquisition of Private Enterprises by State-Owned Capital and Policy Recommendations:Take the Private Listed Companies in the Shenzhen Market as an Example

本文以2018―2021年国有资本收购深市民营上市公司案例为样本,深入分析了国资收购民企的特征、模式与效果。研究发现,国资收购民营上市公司有利于提高上市公司质量,促进国有资本保值增值和布局优化,实现国资与民企的互利共赢。为更好坚持“两个毫不动摇”,促进国企民企共同发展,本文建议国资收购民企前,应做足功课,谨慎开展上市公司收购;收购后,应注重把握国资决策的稳健和民企机制的灵活高效之间的平衡,提升公司治理能力,推动上市公司健康发展。

Taking the case of state-owned capital acquisitions of private listed companies in the Shenzhen Market from 2018 to 2021 as a sample,this paper analyzes the characteristics,models and effects of state-owned capital acquiring private enterprises.The study finds that the acquisitions of private listed companies by state-owned capital are conducive to improving the quality of listed companies,promoting the preservation and appreciation of state-owned capital and its layout optimization,and achieving mutual benefit and win-win results between state-owned capital and private enterprises.In order to better adhere to the“two no irresolutions”and promote the common development of state-owned enterprises and private enterprises,this article suggests that before the acquisitions of private enterprises by state-owned capital,they should do their homework and cautiously carry out the acquisitions of listed companies.After the acquisitions,attention should be paid to grasping the balance between the soundness of state-owned capital decision-making and the flexible and efficient mechanism of private enterprises,improving corporate governance capabilities,and promoting the healthy development of listed companies.