Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) (001210. SZ) announced on December 22 that the company plans to use its own capital of 36.3 million yuan to acquire 55% equity of Yichuan Baoxin heating Co., Ltd. (hereinafter referred to as “Yichuan Baoxin”) held by Yantai Hefeng equity investment center (limited partnership) (hereinafter referred to as “Yantai Hefeng”). After this transaction, Yichuan Baoxin will become a holding subsidiary of Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) .
The reporter of economic information daily noted that the net asset value of Yichuan Baoxin as of June 30, 2021 was 34.2165 million yuan, and the transaction price was 36.3 million yuan determined by both parties through negotiation. According to this calculation, Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) the equity premium rate of Yichuan Baoxin acquisition is 93%. There is no performance gambling clause in this acquisition, and Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) will pay the transaction price in cash at one time.
Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) is a well-known HVAC energy-saving service provider in China, focusing on the field of energy-saving heating, mainly engaged in heating operation services, energy-saving transformation services and R & D, production and sales of energy-saving products.
According to the announcement, Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) and Yantai Hefeng signed the equity transfer agreement on the acquisition of Yichuan Baoxin heating Co., Ltd. (hereinafter referred to as the “transfer agreement”) on December 20 this year. The appraisal value confirmed in the appraisal report is 66.1154 million yuan as the reference basis. The corresponding appraisal value of Yantai Hefeng holding 55% equity of Yichuan Baoxin is 36.3635 million yuan. After negotiation, both parties determine that the transaction amount of the above equity is 36.3 million yuan.
According to the audit report, as of June 30 this year, Yichuan Baoxin had total assets of 95.1378 million yuan, total liabilities of 60.9213 million yuan and net asset value of 34.2165 million yuan. From January to June this year, Yichuan Baoxin realized an operating revenue of 29.3904 million yuan, and the operating profit and net profit were 6.6421 million yuan and 4.9798 million yuan respectively.
The agreement shows that the equity transfer Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) will pay a one-time payment of 36.3 million yuan to Yantai Hefeng in cash. Once the agreement is signed, Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) holds 55% equity of Yichuan Baoxin.
Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) believes that Yichuan Baoxin has been engaged in local heating business for several years and has accumulated certain operation experience and competitive advantages. At present, its development is facing a bottleneck; Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) is a well-known HVAC energy-saving service provider in China, focusing on the field of energy-saving heating. The company has a professional and stable management team, which has advantages in operation management, energy-saving development, technological innovation and so on. Especially after the company’s A-share listing, its brand awareness has been greatly improved. The acquisition of 55% equity of Yichuan Baoxin can achieve win-win and complementary advantages.
After the completion of this transaction, Yichuan Baoxin will be included in the scope of Beijing Kingfore Hv & Energy Conservation Technology Co.Ltd(001210) consolidated statements; This transaction is expected to have little impact on the company’s operating performance in 2021, and the specific audit opinions of subsequent accounting firms shall prevail.
(economic reference network)
