Kunyao Group's stock price fell below the acquisition price, China Resources March Nine: Completed the transaction around November

Zhongxin Jingwei, September 14th (Wang Yuling) Recently, China Resources Sanjiu released an investor Q & A, and the relevant person in charge said when answering the process and valuation of the acquisition of the Kunyao Group. Time is long, strive to complete the transaction around November.

Earlier, China Resources Sanjiu had issued an announcement saying that it was planned to pay the total of 212 million shares from Huacide Pharmaceutical Group Corporation and Huayi Group Co., Ltd. in the hands of Huatili Pharmaceutical Group Corporation and Huayi Group Co., Ltd. %, Kunyao Group will become the holding subsidiary of China Resources Sanjiu.

Specifically, China Resources Sanjiu intends to pay cash to buy 209 million shares from Huacide Pharmaceutical (27.56%of the total share capital of Kunyao Group), and to purchase 3.3355 million shares from Huacoli Group ( 0.44%of the total share capital of Kunyao Group).

According to the "Plan for the Purchase Plan for the Purchasing of China Resources Sanjiu Pharmaceutical Co., Ltd." previously released by China Resources Sanjiu, the transaction price was planned to be 2.902 billion yuan, and the transfer price per share of Kunyao Group was 13.67 yuan. However, in the near future, after the closing price of 14.32 yuan on May 11, 2022, Kunmao Group's stock price fell all the way. As of the closing of September 13, Kunyao Group had closed at 11.88 yuan per share. Based on this rough calculation, China Resources Sanjiu must acquire a premium of 15.07%of the current stock price higher than Kunyao Group.

Regarding the decline in the stock price, on the Shanghai ES E interactive platform, some investors asked questions about the recent production and operation of Kunyao Group. Kunyao Group responded that the six -year operation was referred to the semi -annual report. The trend and fluctuations of listed companies in the secondary market are affected by multiple factors including macro environment, industry policies, and market conditions.

On the one hand, China Resources March Nine gave the acquisition schedule. On the other hand, in the above investor Q & A, China Resources Sanjiu said that while based on the stock value of the existing business, it is more important to look at the long -term business in the future business Development potential and value, the company has analyzed valuation analysis based on future profit expectations and adopted a variety of valuation methods. Generally, it is believed that the acquisition of Kunyao Group is in line with the company's strategic direction.

"Kunyao Group has good strategic value, the existing business foundation is good, the future development potential is large, and Sanjiu has a very strong synergy effect in business. We believe that the current premium rate is reasonable. The potential for development can be continuously released. "China Resources Sanjiu said in the investor Q & A.

In the investor Q & A issued on September 5, China Resources Sanjiu said that the time for the company to choose to acquire Kunyao is better. In the past few years, the internal product structure of Kunyao has changed significantly. Although Kunma's injection has continued to decline in the past few years, oral preparations have grown very fast, and the current business structure has been optimized. In the future, Jicai may have an impact on some businesses, but the rapid growth of oral preparations can offset the impact of some injection. After the merger and acquisition, the resources of both parties can be integrated and the development of the three -seven industry chain can be promoted.

Regarding the acquisition, Northeast Securities has released a research report analysis that after the acquisition of China Resources September and Kunyao Group, on the one hand, it enriches the product layout of China Resources Sanjiu in the field of Chinese medicine, and on the other hand, it will further be the "Kunzhong Medicine" brand. Empowerment is expected to have a synergy effect.

Secondly, according to the CMH data of Zhongkang, China Resources Holy Fire Blood Saitong Soft Capsules realized terminal sales of 658 million yuan, and the market share was the first. There are only two production batch of Blood Capsule Soft Capsules, which are Kunyao Blood Saitong and China Resources Holy Fire. After the acquisition, China Resources Sanjiu will fully occupy the market share of Blood Saitong Soft Capsules. It will also further strengthen the resource integration of the three -seven -headed enterprises. (For more report clues, please contact Wang Yuling, the author of this article: [email protected]) (Zhongxin Jingwei APP)

(The views in the article are for reference only, do not constitute investment suggestions, have risks in investment, and need to be cautious to enter the market.)

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