SSE Signs Strategic Cooperation Memorandum with China Aerospace Science and Technology Corporation

25 May 2023

On May 24, 2023, the Shanghai Stock Exchange (SSE) and China Aerospace Science and Technology Corporation (CASC) signed a strategic cooperation memorandum. Wu Yansheng, Party Secretary and Chairman of the Board of CASC, and Li Zhongbao, Chief Engineer of CASC; Cai Jianchun, Deputy Party Secretary and President of SSE, and Lyu Hao, member of the Party Committee and Executive Vice President of SSE, attended the signing ceremony and held discussions. Li Zhongbao and Lyu Hao signed the memorandum on behalf of the two sides.

Wu Yansheng stated that, owing to the keen attention and strong leadership of the CPC Central Committee, the State Council and the Central Military Commission, the CASC has firmly fulfilled its mission and responsibility to enrich the country and strengthen the military force, accelerated the building of aerospace power, and effectively supported the construction of a world-class military force. In recent years, CASC has proactively harnessed the capital market to promote high-quality development with the help of the SSE, achieving favorable results in enterprise IPOs, capital market financing, etc. Subsequent to signing the strategic cooperation memorandum, the fruitful partnership between CASC and the SSE will experience further deepening of the cooperation. Moving forward, CASC will thoroughly implement the spirit of the 20th CPC National Congress, expeditiously carry out the strategic deployment for building an aerospace power, strengthen strategic cooperation with the SSE, and establish a regular contact mechanism. The corporation aims to leverage the capital market to augment its progress towards high-quality development, make greater achievements whilst championing the creation of a world-class aerospace enterprise group and reform in the new era, and make new progress in the development of the aerospace industry.

Cai Jianchun said that the Report to the 20th CPC National Congress pointed out that China should accelerate the achievement of sci-tech self-reliance and self-strengthening at higher levels and speed up the building of aerospace power. The SSE has earnestly implemented the decisions and arrangements of the CPC Central Committee, committed to serving the national strategies of innovation-driven development and state-owned enterprises reform and innovation, actively leveraged the functional advantages as an exchange to provide comprehensive services across the product lines, thus building up the strength, quality and size of state-owned capital. All along, the SSE and CASC have maintained a good cooperative relationship, with a broad basis for cooperation. In a period of new historical opportunities, the two sides have entered a new stage of cooperation. Viewing the memorandum as an opportunity, the SSE will engage in a comprehensive and deep cooperation with CASC. It will work on various areas including raising the rate of asset securitization of the group, improving the quality of listed companies, enhancing their standardized operation, strengthening investor relations management, facilitating professional integration of listed companies and issuing bonds and REITs. The overarching goal is to promote sci-tech self-reliance and self-strengthening at higher levels within the aerospace science and technology industry, and to make new and greater contributions to building a modern socialist country in all respects.

Pursuant to the strategic cooperation memorandum, the two sides will uphold the principle of "complementary advantages and win-win cooperation" and abide by the rules of market orientation and rule of law. They will carry out comprehensive cooperation in such fields as corporate restructuring and listing, improving the quality of listed companies, innovating products, as well as training and research, strengthening communication and sharing of information and establishing a long-term and stable cooperation mechanism.

Representatives from relevant departments and institutions of the SSE and CASC attended the signing ceremony and discussions.