A share has never lacked God as stocks are flying over the top of the bull market of the Chinese ship 300 yuan (57.88, 1.06, 1.87%), which is less than a year to turn round times of CSR North car, dubbed as "God car." When investors look forward to who is next "God car", the CNPC, Sinopec [microblogging] and rushed to the daily limit to shoot straight, "God car" after really "God oil" it? You know, "two barrels of oil" net just suffered the biggest drop in five years.

In this round of the bull market, the central enterprises stocks become the worthy vanguard. Wind statistics show that as of April 24 this year, the two cities a total of 269 central enterprises stocks, of which 18 central enterprises listed companies rose year fell more than or equal to 100%, while the company's 110-year high of Price than or equal to 50%. Behind the data, but it is the central rate in the first quarter profit fell 9.9% in the harsh reality.

"Behind the stock market rose, investors expect the central enterprises reform next." April 29, a well-known brokerage analysts said. In the north and south merged into the beginning of the car, more than the combined news of central enterprises in the widely circulated, and recently, "the central enterprises restructuring and merger", "an official document has been issued," the rumors once again set off the enthusiasm of the capital market.

Although the SAC [microblogging] issued a statement rumor, but the money still flocking to the central rate the concept of plate. Vice president of China Enterprise Reform and Development Research Kum "China Times" reporter said that at present the various stakeholders in the market have misread, be calm thinking and judgment, re-stock the stock market pushing hands, but too far, the current man-made Factors beyond the hype manageable in the long term, stock prices still have to return to fundamentals.

Frenzied market

Monday April 27, A-share opening to go another new high of more than seven years, the main stock index broke through 4500 points. At the close, the stock index closed at 4527.49 points, soared 3.04%, turnover approaching trillion. Day leader include "two barrels of oil", including 16 "in the prefix" stocks.

The analyst said the reporter, "the central enterprise integration" rumors continue to simmer in the stock market, capital flows into stocks flock, "the prefix" stocks followed "two barrels of oil 'pace, the stock price have soared.

April 28, despite the broader market finished lower trend, but China COSCO (14.78, -0.41, -2.70%), CSCL (10.76, -0.32, -2.89%), China Metallurgical (11.36, 0.44, 4.03% ) and many only "in the prefix" daily limit of stocks still straight.

"I have repeatedly in China Railway Construction (25.97, 0.05, 0.19%) rounded out the blaze on more than a dozen back and forth, each time that sold in the highest point, the share price jump was the result faster than the rocket, which is bull the bull stock, not only higher up. "One investor said.

As a whole the market only on the SSE Central SOEs index tracking funds, securities on ICBC central enterprises ETF also outperform. Galaxy Fund [microblogging] data show that as of April 24, the most recent three-month net growth rate of 30.05 percent, in the last 6 months, the net growth rate is as high as 115.65%. In the secondary market, the Shanghai central enterprises ETF has a slight premium over the past three months rose 30.26%, the latest six months or more as high as 116.03%, among the biggest gainers in similar products.

At the same time, the A-share market in the mainstream blue chip index tracking ETF suffered net redemptions at a larger scale, the recent still nearly 100 million copies of I. The ICBC central enterprises ETF, ETF turnover and central enterprises continue to enlarge, Zhou turnover reached 1.858 billion yuan.

"With 'God car' than up, this is a piece of cake." A trader pointing to the steep upward K line, told reporters that, "North-South car's shares also lie in the four yuan just a few months, the highest has reached 40 dollars, this is the legendary big bull stock tenfold! "

"God car" turned out, no doubt to investors for the integration of central enterprises the future is full of longing. So, the next "God car" Who would be? After "God car" really there "Shenzhou", "God oil" was born it? Who will be the next big merger of the central enterprises?

Half-truths restructuring news

SASAC [microblogging] website for the latest information on the restructuring to stay in November 26, 2014, China Huafu Trade Development Corporation COFCO entirety. And it has announced the merger of China South Locomotive (31.72, -1.30, -3.94%) and China CNR (32.73, -1.37, -4.02%), but did not release an official document on the SAC website.

Following the merger the car north and south, nuclear technology and brand unification plan also becoming clear trend. 27 March, the Commerce Department's antitrust bureau publicized "China Power Investment Corporation acquired the State Nuclear Power Technology Co., Ltd. shares case" shows that 66% of the shares are now the controlling shareholder of the State Council, the State Nuclear Power intends to transfer its holdings of free support to CPI There.

In addition, China Railway Tunnel Group, deputy chief engineer Wang Meng-shu in the country during this year also revealed to the media, China Railway Group (21.75, 0.01, 0.05%) will work with China Railway Construction merger, at the national level has begun to study, which is already in the state-owned assets restructuring The planned.

"North-South car merger, the nuclear power industry restructuring and construction of China Railway, China Railway merger, are releasing 'combination' signals made by the State Council executive meeting, through the consolidated avoid fighting and improve the bidding and anti-risk capability, and equipment manufacturing, transportation and trade should be adapted to countries 'along the way' and internationalization strategy. "Kum said.

The printing on the "central enterprise restructuring and merger" stories is far more than that, the South ship with the North ship, PetroChina and Sinopec, China Mobile [microblogging] the network, and China Telecom [microblogging] and China Unicom (9.56, -0.40, -4.02%), the latest rumor is that China Ocean Shipping Group, Sinotrans Group, China Merchants Group to integrate with each other.

Even the media reported that the current state-owned enterprises SASAC identified the next focus of reform, the central enterprises to carry out large-scale mergers and acquisitions on a disaggregated basis, the central enterprises is expected to reduce the number from 112 to 40.

He said rumors of central enterprises involved came out "clarification", but the stock rose incessantly. Aforementioned brokerage analyst said harshly, then merge CSR CNR has also been "rumors - Clarification - announced a merger" process, but in the end still resolutely not merge it? North and South car can merge, what is impossible?

We interviewed a number of investors have expressed optimism that they said with a smile, "perhaps", "everything is possible", "Maybe the rumors passed around to become the real thing."

April 27, the SASAC said in a statement recently, media reports, "the central enterprises will be large-scale mergers and acquisitions, or a reduced number of 40" on its website. After investigation, the message has not been interviewed or check with the SASAC.

In this regard, Lee Kum interpretation is that the SAC of the current speculation is not to deny the phenomenon of a denial, they are using a neutral word, because there is speculation climax and restructuring goals, the lack of data to support the figures are.

A SASAC sources said, in the absence of fundamental support in the case of hype "reorganized" concept, which is making the stock the usual gimmicks, while also able to expose the existence of the current central rate of internal problems, such as poor management of problem assets poor, poor adjustments to respond to market and other companies want to merge the elimination of vicious competition and enhance market competitiveness.

How can a "integration" of the

In the Lee Kum opinion, anecdotal mostly false. He believes that now the rumors on the market are some of the people based on trend analysis and speculation, but for now, the climax of the central enterprise restructuring yet to come, the central enterprises stocks were the result of speculation is artificial, classification is the premise of the reorganization, But now classification reform programs have not yet introduced, how to restructure?

"Some people asked me if I was not the SASAC issued a joint reorganization of files, I say unlikely, even if the reorganization, the first corporate voluntary act, the SASAC approved the issue is not approved." The SASAC sources said.

According to reports, the central enterprise restructuring ostensibly to reduce the number of problems, but in practice it would be very complex, such as PetroChina and Sinopec merger, that there are two bodies, the rest after a merger, and the other troops that how a team do? Personnel problems are not resolved, then the reorganization can not succeed.

Bureau of Enterprise Reform SASAC official said the reorganization is the reorganization of central enterprises boss position, not the restructuring of enterprises, if the position of veterans get, restructuring is half the battle, on the contrary can not be a successful merger.

"If companies are willing to merge, the SASAC have this intention, this matter is very big probability of success, but the SAC wanted to do business does not agree, the merger can not proceed." Central enterprises a listed company insiders said.

The central rate of the joint reorganization normal procedure is, and the enterprises reported the intention to merge the SASAC, the Central Organization Department appointed "in charge" of the central level, but also to the central SASAC merger report, the central grant, and it can be merged.

He said the central enterprises, told reporters that, from the SASAC statement, the Committee on joint reorganization things they have to consider, but there is no formal document. He said the SASAC have argued that some of the central enterprises may jointly with SAC merger intention talked to, but that does not mean the merger.

"Why, when pushing the SASAC Li Rongrong in charge of mergers and acquisitions, but all do not want to merge the central enterprises? Because then everyone wants to get a few more companies, some jobs will be more prepared. But now the central rate has actively sought the merger because there is a problem inside the central enterprises, the central enterprises intend to cover by merging and solve the problems. "A state-owned assets, experts say.

Ministry of Finance data show that in the first three months, the state-owned enterprises total profit fell 8%; wherein the central enterprises profit fell 9.9 percent, the local state-owned enterprises profit fell 0.4%.

Above the central rate, insiders say, is now the central enterprises profits and sluggish external environment, through mergers to ease, we do not bargain with each other, the price will be able to lift, to the establishment of trade barriers.

However, the merger is not a panacea, the key is to reform the evaluation system.

"For the short abandon a long-term interests of some central enterprises, often for performance term and overdraft space for future development, reducing the development of other aspects of the investment, the blind pursuit of expansion in revenue and profit." The state-owned experts believe that state-owned assets performance evaluation committee in question, the market would have been not so much capacity, but still allow several competing companies to complete, so it will bargain with each other to form a vicious competition.