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On April 20, Yunnan pig company Yunnan Shennong Agricultural Industry Group Co.
, Ltd.
("Shennong Group") launched the IPO process on the Shanghai Stock Exchange.
This time it plans to publicly issue 40.
03 million new shares.
The initial inquiry date is April 22.
The subscription time is April 28
.
According to the data, Shennong Group is a large-scale pig breeding, slaughtering and processing enterprise in Yunnan Province, 97% of the shares are controlled by the He family.
Sales customers are mainly in Yunnan and Guangdong, and there is a relatively concentrated risk in the sales market
.
Many years ago, the chairman of Shennong Group was also involved in bribery cases
The listing plans to raise 2.
091 billion yuan
On April 20, Shennong Group issued a letter of intent for a prospectus, and plans to publicly issue 40.
03 million new shares on the Shanghai Stock Exchange, not less than 10% of the total share capital after the issuance
.
The initial inquiry date is April 22, and the online and offline subscription date is April 28
According to data, the predecessor of Shennong Group "Shennong Limited" (formerly known as "Shennong Feed") was established in 1999
.
After the overall change in August 2012, a joint stock limited company "Shennong Group" was established
In fact, from 2016 to 2017, Shennong shares tried to IPO, but failed
.
In April 2020, Shennong shares disclosed a new prospectus, and the meeting was held on December 17 of the same year
In terms of performance, from 2018 to 2020, Shennong Group achieved operating income of 1.
092 billion yuan, 1.
733 billion yuan, and 2.
724 billion yuan, respectively, and realized net profits of 70.
727 million yuan, 469 million yuan, and 1.
138 billion yuan
.
Shennong Group said that the increase in net profit in 2020 and the increase in net profit margin by 14.
In the first quarter of 2021, Shennong Group is expected to achieve operating income of 856 million yuan to 1.
046 billion yuan, an increase of 31.
93% to 61.
25% year-on-year; it is expected to achieve net profit of 389 million yuan to 475 million yuan, an increase of 13.
99% to 39.
32% year-on-year
.
After listing, after deducting the issuance costs, Shennong intends to raise funds to invest in Yunnan Shennong Luliang's annual output of 500,000 tons of feed and biosafety center project, 7 high-quality piglet expansion base construction projects, 3 high-quality pig fattening base construction projects, Yunnan Shennong Qujing Food Co.
, Ltd.
has built a new project for slaughtering 500,000 pigs per year to further expand its own pig industry chain and expand business production capacity
.
Including the 570 million yuan to be used to supplement working capital, the above-mentioned projects plan to use about 2.
The chairman was involved in bribery cases
At present, the main business customers of Shennong Group are mainly distributed in Yunnan and Guangdong
.
From 2018 to 2020, the sales revenue of Shennong Group in Yunnan Province accounted for 86.
From the perspective of shareholding structure, Shennong Group is a family business
.
The prospectus shows that Chairman He Zuxun holds 55.
In 2020, the chairman of Shennong Group was revealed to have been involved in bribery cases
.
On April 1, 2020, China Judgment Documents Network published the "Criminal Judgment of Shi Zengrong's Acceptance and Bribery of the First Instance", showing that Shi Zengrong, a former member of the Party Committee and Deputy Director of the Yunnan Rural Credit Cooperative Union, was sentenced to 6 years in prison for accepting and offering bribes In August, the chairman of dozens of local enterprises in Yunnan had bribed Shi Zengrong
.
Among them, from 2007 to 2009, Shi Zengrong provided assistance to Shennong Group in loan and other aspects, and received a total of 30,000 yuan in cash from Shennong Group Chairman He Mou in the name of holiday expenses
.
He Mou testimony stated that the money given to Shi Zengrong was personal money.
The reason for sending the money was because Shennong Group had business dealings with the rural credit cooperatives and wanted to strengthen the relationship with the leaders of the rural credit cooperatives so as to gain more care and attention in business dealings.
Support
.
Shi Zengrong confessed that in one aspect, he was grateful for the quick processing of each loan application, and on the other hand, he fancyed his power and hoped that he could support and help them when the Shennong Group needed a loan, handle it in time, and get the funds
.
Article 7 of the “Interpretation of the Supreme People’s Court and the Supreme People’s Procuratorate on Several Issues Concerning the Application of Law in the Handling of Criminal Cases of Corruption and Bribery” states that in order to seek illegitimate benefits, bribes to state officials in the amount of more than 30,000 yuan shall be in accordance with the third of the Criminal Law.
Article 190 provides for criminal responsibility for the crime of bribery
.
However, a capital market lawyer once analyzed to the media that the bribery of the chairman of Shennong Group occurred earlier and the statute of limitations has expired, which will not affect the qualifications of directors and supervisors
.
On April 19th and 20th, a reporter from the Beijing News called Shennong Group on issues such as listing planning, internal control management, and listing goals
.
The staff of the Securities Legal Department of Shennong Group replied that the company is currently busy with work arrangements and there is no time for media interviews in the near future
.
