Yu Three Gorges A: 3 billion cross-border feed additives industry

is the main paint and coating business of Yu three gorges A (000565) now tothrow 3 billion yuan to buy a company, proposed cross-border feed additives businessSuch a large amount of capital operation can not help but attract the attention of the marketTXh
Yu Three Gorges A on December 21 on the issue of shares to purchase assets and related transactions announced that it intends to issue shares to buy Chongqing Ziguang held 100% of the shares of Ningxia Ziguang, the transaction consideration of about 3.06 billion yuan, the estimated value-added rate of 343.22%After the completion of the acquisition, the company will be from the original main paint and coating business, cross-border into the feed additives businessIn fact, in addition to the high acquisition price, the performance commitments made by the counterparty are also brightChongqing Ziguang promised that Ningxia Ziguang's net profit attributable to the parent company, net of non-recurring gains and losses, after deducting non-recurring gains and losses, in 2017-2019 was not less than RMB34,088.1 million, RMB38,043,300 and RMB40,792.42 million, respectivelyData show that Ningxia Ziguang's performance in recent years has been relatively stable, with net profits of -0.16 billion yuan, 254 million yuan and 153 million yuan achieved in 2014-2015 and January-July this year, respectivelyTXh
It is worth noting that the underlying financial indicators and equity size of the acquisition triggered the shell listingAccording to the draft, the ratio of the total assets of Ningxia Ziguang to the high value of the transaction amount and the total assets of the Three Gorges in Chongqing was 328.8%In addition, Ningxia Ziguang's net assets and transaction amount of the high value of the three gorges accounted for 393.57 percent of the net assets of the three gorges, Ningxia Ziguang's operating income accounted for 178.65 percent of the three gorges operating incomeHowever, Yu Three Gorges A said that in the 60 months before the transaction, the company's controlling shareholder sashimi group, the company's actual controller is the Chongqing State-owned Assets Supervision and Administration Commission, there has been no changeAfter the transaction, the company's controlling shareholder is Chongqing Ziguang, the company's actual controller is still the Chongqing State-owned Assets Supervision and Administration CommissionThe transaction did not result in a change in the control of the listed company, so the transaction does not constitute a shell listing Affected by the restructuring plan, the company's share price rose and stopped on December 21, to close at 12.91 yuan/share, the turnover rate reached 1.49 percent TXh
　　According to Yu Three Gorges A, since the listing in 1994, the company has been engaged in the manufacture and sale of paint and coatings, the main business has not changed The deal will make the company's main business into a dual-ownership industry development For this transaction, Yu Three Gorges A intends to integrate the advantages of the feed additive industry through major asset restructuring, enter the rapid development of the methionine industry, improve the operating conditions of listed companies TXh
　　In the first three quarters of this year, the company's operating income was about RMB2,046 million, up 454.26 percent year-on-year, according to the third-quarter report However, the corresponding net profit attributable to shareholders of listed companies in the same period was RMB53.7654 million, down 67.24% YoY, with a clear increase in revenue and no increase in profits TXh , which is the main paint and coatings business of Yu three gorges A (000565) now toss 3 billion yuan to buy a company, proposed cross-border feed additives business Such a large amount of capital operation can not help but attract the attention of the market TXh
　　Yu Three Gorges A on December 21 on the issue of shares to purchase assets and related transactions announced that it intends to issue shares to buy Chongqing Ziguang held 100% of the shares of Ningxia Ziguang, the transaction consideration of about 3.06 billion yuan, the estimated value-added rate of 343.22% After the completion of the acquisition, the company will be from the original main paint and coating business, cross-border into the feed additives business In fact, in addition to the high acquisition price, the performance commitments made by the counterparty are also bright Chongqing Ziguang promised that Ningxia Ziguang's net profit attributable to the parent company, net of non-recurring gains and losses, after deducting non-recurring gains and losses, in 2017-2019 was not less than RMB34,088.1 million, RMB38,043,300 and RMB40,792.42 million, respectively Data show that Ningxia Ziguang's performance in recent years has been relatively stable, with net profits of -0.16 billion yuan, 254 million yuan and 153 million yuan achieved in 2014-2015 and January-July this year, respectively TXh
　　It is worth noting that the underlying financial indicators and equity size of the acquisition triggered the shell listing According to the draft, the ratio of the total assets of Ningxia Ziguang to the high value of the transaction amount and the total assets of the Three Gorges in Chongqing was 328.8% In addition, Ningxia Ziguang's net assets and transaction amount of the high value of the three gorges accounted for 393.57 percent of the net assets of the three gorges, Ningxia Ziguang's operating income accounted for 178.65 percent of the three gorges operating income However, Yu Three Gorges A said that in the 60 months before the transaction, the company's controlling shareholder sashimi group, the company's actual controller is the Chongqing State-owned Assets Supervision and Administration Commission, there has been no change After the transaction, the company's controlling shareholder is Chongqing Ziguang, the company's actual controller is still the Chongqing State-owned Assets Supervision and Administration Commission The transaction did not result in a change in the control of the listed company, so the transaction does not constitute a shell listing Affected by the restructuring plan, the company's share price rose and stopped on December 21, to close at 12.91 yuan/share, the turnover rate reached 1.49 percent TXh
　　According to Yu Three Gorges A, since the listing in 1994, the company has been engaged in the manufacture and sale of paint and coatings, the main business has not changed The deal will make the company's main business into a dual-ownership industry development For this transaction, Yu Three Gorges A intends to integrate the advantages of the feed additive industry through major asset restructuring, enter the rapid development of the methionine industry, improve the operating conditions of listed companies TXh
　　In the first three quarters of this year, the company's operating income was about RMB2,046 million, up 454.26 percent year-on-year, according to the third-quarter report However, the corresponding net profit attributable to shareholders of listed companies in the same period was RMB53.7654 million, down 67.24% YoY, with a clear increase in revenue and no increase in profits TXh