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published in(发表于) 2014/8/12 4:14:29
Mihui， Chairman of Sinopec， President of Internet

Yang Guang Web on August 12 (Reporter: Zhao Ke, trainee journalist: Zhang Songdan) according to the economic voice of the companies in the world reported, since the beginning of this year, Sinopec mixed ownership reform has been a hot topic. Now, it has the latest progress. Sinopec's official website announced that on August 7, Sinopec Chairman Fu chengyu at Headquarters met with Tencent President Martin LAU, exchanged views on mutual cooperation and other topics for the Exchange.

Although only one or two short sentences, the news is still arousing great interest. The world company SINOPEC was contacted today and Tencent, trying to understand the details of the talks, but both sides did not respond. Insiders disclosed that during the talks, Fu chengyu described PetroChina sales company balance sheets, Sinopec's commitment to introducing social capital, as well as their expectations, Mr LAU is asking some details, but both Tencent shares and other issues is not clear.

Sinopec mixed ownership reform focus is oil sales areas open to social capital, restructured its wholly-owned subsidiary of Sinopec-PetroChina sales company, Lv Dapeng Sinopec spokesman said this was their best assets:

Lv Dapeng: it should be said that Sinopec took out quality assets, are we better than a plate of four plates, namely oil sale this forum. This plate has more than 30,000 gas stations, there are more than 10,000 km of pipelines, there are 15 million cubic meters of storage tanks.

Tencent, although it is unclear how cooperation with Sinopec, but Sinopec Jie Zhenglin has said before, the Director of capital operation, this reform, Sinopec's goal is a joint venture with a third party to form a new economic entity:

Jie Zhenglin: so-called of increased funding spread unit, is I China petrochemical to existing of oil sales business of assets and liabilities we after specification of audit assessment zhihou, as funded, then introduced third party, including social capital and private capital, common formed a new of mixed ownership of economic entity, not simple of put China petrochemical existing of assets or equity external transfer, actually is introduced third party to investment.

On June 30 this year, announced sales of corporate restructurings, asset evaluation has been completed, will go for investors in the first round of bidding, bidding companies more than 20, including the Internet, the two leading players in Tencent and Alibaba. At that time, there were rumours that company has a stake in Sinopec, Ali official admit cooperation with Sinopec, but stressed that no shareholder:

Ali Baba: business cooperation there is no way to say too much, except to say that we have with them on operational cooperation. Then a stake in this thing I can clearly tell you that no funeral.

On June 30, Sinopec's announcement, sales company at its gas stations have 30,233, total assets of more than $ 341.7 billion yuan. Such a great dish, even if the 10% stake, also require tens of billions of capital. People familiar with the matter said, while Tencent and Alibaba, Jingdong have even communicated with Sinopec, a detailed understanding of a sales company balance sheets, due to the large amount involved, so now you have no clear position.

Is a shareholder? Is not to buy into? This is a problem. Tencent, Ali's attitude on the issue here rather vague. Insiders say Sinopec is keen to bring in new investors, because it is short of money. Sinopec-2013 annual report shows that current assets of the company amounted to 258 billion yuan, including monetary funds only 6.7 billion dollars. Therefore, Sinopec, both of private capital involvement, driving sales performance of the company's growth also is looking to sell the stake, to finance new projects.

Global investment banks have suggested that the electrical contractor and fund companies such as Tencent's financial investors, such as joint ventures, set up a joint venture company, common shares of PetroChina sales company. Tencent to finance promised investors a percentage of the annual rates of return, to obtain investment sales the company's dominance in the future, while financial investors most need is low risk, or even risk-free return, so that we can take what we need.

Whether such an approach is feasible, Sinopec and made no comment. Lv Dapeng Sinopec spokesman said, the best pension fund can participate:

Lv Dapeng: financing and financing channels of the object may have a course designed for people who, after all, this is China's first big test in the State-owned enterprise reform. If the results are good, and relatively high degree of social participation, after the trial, after the consent of the general meeting of shareholders, the limit may also be increased in the future. If, for example social security fund, mutual funds to participate in this project, if we can have very good benefits, can allow people to share, then the social security fund is the best way.

Of course, Tencent, Ali in the future if shares of PetroChina sales company, brings more than just money. Senior Analyst at Analysys International think-tank Zhuo Saijun believes that at the operational level, an Internet company and Sinopec also has a lot of scope for cooperation:

Zhuo Saijun: from a business standpoint, Ali was working together with Sinopec up help Sinopec in the means of payment and docking with the client, to take advantage of Internet payment tool for more payment convenience and outlets of ductility.

(Original title: mihui, Tencent, Chairman of Sinopec oil giant hand IT bosses)

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