Porton Pharma Solutions Ltd(300363) 3 announced on March 9 that in order to match the rapid growth of preclinical and early clinical (CRO) business development needs, the company plans to purchase 100% equity of Kaihui Pharmaceutical (Shanghai) Co., Ltd. held by Shanghai Ruizhi Chemical Research Co., Ltd. with RMB 266 million in cash.
Statistics show that Kaihui pharmaceutical was established on May 16, 2008 with a registered capital of 235 million yuan. It is located in Hangzhou Bay Development Zone, Fengxian District, Shanghai, and its legal representative is Hui Michael Xin The company is a secondary subsidiary of Chempartner Pharmatech Co.Ltd(300149) ( Chempartner Pharmatech Co.Ltd(300149) ), a company listed on the gem. As a global small molecule drug R & D and production service provider, the company is mainly committed to providing customers with process R & D and production services of intermediates and APIs required from preclinical research to various clinical trial stages. At present, the company is in the state of shutdown due to the transformation of plant and facilities.
Financial data show that by the end of November 2021, Kaihui pharmaceutical had total assets of about 313 million yuan and net assets of 148 million yuan; From January to November in 2020 and 2021, the operating revenue was 155 million yuan and 131 million yuan respectively, and the net profit was – 274632 million yuan and – 842077 million yuan respectively. After assessment, the assessed value of all shareholders’ equity on November 30, 2021 was about 248 million yuan, with an appreciation rate of 68.23%.
Porton Pharma Solutions Ltd(300363) said that after the acquisition, Kaihui pharmaceutical has existing comprehensive laboratory, kilogram laboratory and pilot workshop, which can provide capacity guarantee for the company to further expand cro business; At the same time, it will also form a linkage with the company’s Shanghai R & D center, which will help improve the switching efficiency of the company’s projects from R & D to production and form a synergy between research and production. In addition, as one of the earliest enterprises engaged in small molecule drug R & D and production services in China, Kaihui pharmaceutical has a good customer base and project delivery experience, which is conducive to the company’s further expansion of Chinese business, so as to gradually promote the implementation of the company’s end-to-end comprehensive pharmaceutical service platform strategy.
In view of the fact that the company’s facilities in 2022 are still in a state of negative impact on the company’s financial results, it is expected that the transformation of the plant in 2022 will also have a certain impact on the company’s financial results. After the acquisition, the company will optimize and integrate Kaihui pharmaceutical in terms of enterprise operation, personnel arrangement, company system and other aspects, help it return to work and production as soon as possible, and reduce the impact of its losses.
The latest performance express shows that Porton Pharma Solutions Ltd(300363) achieved an operating revenue of 3.105 billion yuan in 2021, with a year-on-year increase of 49.87%; The net profit attributable to the parent company was 524 million yuan, a year-on-year increase of 61.49%; The net profit attributable to the parent company after deduction was 503 million yuan, an increase of 74.42%, and the earnings per share was 0.97 yuan. The performance maintained rapid growth for the third consecutive year.
