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    Home > Active Ingredient News > Drugs Articles > Teng cage for birds, this pharmaceutical company with 7.5 billion yuan backdoor listing approved!

    Teng cage for birds, this pharmaceutical company with 7.5 billion yuan backdoor listing approved!

    • Last Update: 2019-12-21
    • Source: Internet
    • Author: User
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    [industry trends of pharmaceutical network] in the evening of December 17, Dongyin announced that the merger and reorganization of the company had passed the examination of the CSRC and obtained conditional approval After the completion of this transaction, Dongyin will invest 99.65% equity in Shandong Luoxin Pharmaceutical Group Co., Ltd (hereinafter referred to as "Luoxin pharmaceutical") through major asset restructuring, and the controlling shareholder of Dongyin will also be changed to Luoxin holding According to the announcement, the proposed assets (Dongyin shares) of this major asset restructuring are priced at RMB 900 million, and the proposed assets (Luoxin pharmaceutical) are priced at RMB 7.54 billion The above difference of RMB 6.64 billion will be purchased by the listed company from the counterparty by issuing shares According to the data, Luoxin pharmaceutical is a large pharmaceutical enterprise group integrating drug R & D, production, sales and medical and health services It is a national high-tech enterprise, a national technological innovation demonstration enterprise and a key high-tech enterprise under the national torch plan Before the transaction, Dongyin is mainly engaged in the R & D, production and sales of well used submersible pump, small submersible pump and onshore pump; after the transaction, Dongyin will transform into a pharmaceutical manufacturing industry, mainly engaged in the R & D, production and sales of pharmaceutical products Luoxin pharmaceutical has always been committed to R & D and innovation, and its subsidiary, Shanghai Luoxin, has actively arranged innovative drug R & D system Up to now, Luoxin pharmaceutical has 48 new drug certificates and 6 new drugs under research At the same time, Luoxin pharmaceutical also focuses on digestive products, respiratory products, anti-tumor products and other fields, and actively cooperates with AstraZeneca and other world-famous enterprises to further build a large health platform In recent years, the profitability of Luoxin pharmaceutical industry has been continuously improved and maintained at a high level According to the financial report data, in 2016, 2017 and 2018, the net profit attributable to the owner of the parent company of Luoxin pharmaceutical was 426 million yuan, 466 million yuan and 512 million yuan respectively In the restructuring plan, both parties of this transaction made performance commitment that the net profit of Luoxin pharmaceutical in 2019, 2020 and 2021 will not be less than RMB 550 million, RMB 650 million and RMB 750 million, respectively According to the financial report data of Luoxin pharmaceutical in the first half of 2019, the operating revenue in the first half of 2019 is 3.93 billion yuan, accounting for 52% of the annual forecast; the net profit attributable to the owner of the parent company is 300 million yuan, accounting for 55% of the annual forecast According to the analysis of the industry, affected by policies such as volume purchasing, the pharmaceutical industry is facing a reshuffle and fierce market competition Whether the performance commitment of Luoxin pharmaceutical industry can be completed on demand is unknown It is worth mentioning that this is also the reorganization and listing of Luoxin pharmaceutical nearly four years after delisting, and the docking with A-share capital market According to the data, in 2013-2016, Luo Xin Pharmaceutical applied to the Hong Kong stock exchange for three times to transfer from the growth enterprise board to the main board, but the application was invalid for more than six months due to the problems of connected transactions and horizontal competition between Luo Xin Pharmaceutical and the actual controller's pharmaceutical business, so it has not been approved Later, rohin pharmaceutical decided to privatize and move to other markets In March 2017, Luoxin pharmaceutical launched a privatization proposal According to the previous announcement, the write off price of the privatization of Luoxin Pharmaceutical Co., Ltd is HK $17 per share, with a premium rate of about 31.78% compared with the closing price before the suspension, and the total market value of Luoxin Pharmaceutical Co., Ltd is HK $10 billion 363 million On April 11, 2019, Dongyin issued a notice of suspension of major asset restructuring, and announced a plan for major asset restructuring on the evening of April 24, with a planned price of RMB 7.543 billion to acquire 99.65% of the equity of Luoxin pharmaceutical, through which Luoxin pharmaceutical will be restructured and listed Luo Xin Pharmaceutical said that after the privatization and delisting in 2017, the company has carried out the corresponding business restructuring in 2018, and finally restructured the pharmaceutical business of the pharmaceutical company and injected it into Luo Xin Pharmaceutical The problems of related party transactions and peer competition that existed before have been solved accordingly, which has no adverse impact on this transaction.
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