Shuangchuang Electronics (600990) Opinions on major issues: Sub-group strategy steadily promotes the platform to highlight some parts of the asset integration can be expected

Shuangchuang Electronics (600990) Opinions on major issues: Sub-group strategy steadily promotes the platform to highlight some parts of the asset integration can be expected

Matters: The company issued a reminder announcement regarding the free transfer of state-owned shares to be approved by China Electronics Technology Corporation.

The main content is as follows: Agreed to be held by Shichuang Electronics 45 held by 38.

67% (total of 72,700,012 shares) of conventional shares were transferred to CLP Bowei for free.

After the completion of the share transfer, the total share capital of Si Chuang Electronics will remain unchanged, and CPIC Boweixin will hold 72,700,012 shares, accounting for 45 of the total share capital.

67%, became the direct controlling shareholder of Shuangchuang Electronics, the 38 companies no longer hold the shares of Shuangchuang Electronics, and China Electronics Technology Corporation as the actual controller of Shuangchuang Electronics remains unchanged.

Opinion: Denko Group’s strategy is advancing steadily: The release of the transfer is in accordance with the principle of agreeing in November 2017 to establish a new registration to form the CLP Bo Weizi Group, merging all state-owned shares of Shichuang Electronics held by 38 for free transferCLP Bowei holds. After the completion of the industrial and commercial registration in September 2018, the transfer of shares was formally approved.

We believe that this move indicates the steady progress of the strategy of the China Electronics Technology Sub-Group. In the future, CEC Power will be guided by the strategic planning and development goals of the Group, sort out the business resources of each research institute, and gradually carry out business resource integration operations and reforms.The innovative solution is guided by the “smart perception of physical space security”, and incorporates coverage systems to equip the core competitiveness 都市夜网 of the industry with basic products.

The company’s platform is outstanding, and asset integration can be expected: According to the company announcement, China Electronics Technology Corporation agreed to use Shuangchuang Electronics as a listing platform for the operation and development of CPIC’s future operation and development capital.Institute, 38, 43, has rich quality assets.

With the gradual landing of Guorui Technology’s major asset reorganization, we believe that the capital operation of Denke Group deserves special attention, and the platform of Sitron Electronics is very prominent, and it is expected to continue to benefit from future capital integration.

Profit forecast and recommendation level: We maintain the company’s forecast of net profit attributable to the mother for 2019-2021, which is 2 respectively.

3.9 billion, 2.

7.8 billion and 3.

16 青岛夜网 megabytes, corresponding to 1, respectively.

50 yuan, 1.

75 yuan and 1.

99 yuan, maintaining a target price of 68.

00 yuan, maintaining the “strong push” level.

Risk warning: Asset integration progress exceeds expectations; radar business tendering progress is uncertain