What is a state-owned capital operation company?

I learned something about state-owned capital investment and operation companies on the official website consulted by CUHK. It is mentioned that the operating subject of state-owned capital operating companies refers to holding companies or enterprise groups authorized by the government between the government and enterprises. SASAC, as a department exercising the functions of owner of state-owned assets, does not directly manage all state-owned assets, but carries out capital operation through holding companies or parent companies of enterprise groups authorized by state-owned assets operating institutions. The object is the state-owned capital (equity) held by the holding company, that is, the stock of state-owned assets, including the property rights of state-owned enterprises and the state-owned equity in corporate enterprises. The purpose of capital operation is to preserve and increase the value of state-owned capital.