East Sunshine Section 3.221 billion yuan to collect East Sunshine Pharmaceuticals involved in the pharmaceutical industry

On November 25, Dongsan Co. announced the latest acquisition and restructuring report, and the company made significant progress in acquiring shares in Sunshine Pharmaceuticals, a Hong Kong shareholder. According to the report, the listed company intends to purchase 226.2 million shares (50.04 percent of its total share capital) of Dongsan Pharmaceuticals from Yichang Dong Sunshine Pharmaceuticals for a total price of 3.221 billion yuan by issuing shares to purchase assets. After the completion of the transaction, Dongsan Pharmaceuticals will become a controlling subsidiary of listed companies, and The East Sunshine Industry will be extended to the pharmaceutical industry.
East Sunshine Section of the original main business to aluminum deep processing, chemical products production, electronic materials and components manufacturing-based. The acquisition targets Dongsian Pharmaceuticals, an antiviral drug-based pharmaceutical company that develops, produces and sells drugs in the therapeutic fields of antiviral, endocrine and cardiovascular diseases. Previously, due to the domestic and foreign market downturn, domestic aluminum foil manufacturing overcapacity, excessive competition and other reasons, The East Sunshine Section's net profit once fell sharply. Despite the end of the 2016 industry adjustment cycle, Dongsanke said the company wanted to tap profit growth points from emerging industries because of the limited long-term development space in the industry in which its main business is held.
, however, the reasonableness of the performance commitments made by the company has been called into question. Dongsin Pharmaceuticals committed the target company in 2017, 2018 and 2019 each year committed net profit of not less than 480 million yuan, 575 million yuan, 652 million yuan. The net profit for 2014, 2015 and 2016 was RMB135 million, RMB266 million and RMB296 million, respectively. In response, Dongsan Said, Dongsan Pharmaceuticals' revenue increased 19.19 percent in January-June 2017 compared with the same period in 2016, net profit attributable to shareholders of the parent company increased 40.41 percent, and the continued rapid growth in revenue profit was mainly due to the further increase in sales of core products in the national market. In addition, The 2017, 2018 and 2019 committed net profit of 480 million yuan, 575 million yuan and 652 million yuan, respectively, an increase of 26.11%, 19.79 percent and 13.39 percent, respectively, lower than the growth rate of real net profit during the reporting period. (Beijing Business Daily)