At the end of 2021, Shinva Medical Instrument Co.Ltd(600587) (600587. SH) issued a non-public offering plan on December 30. The company plans to raise no more than 35 specific investors, including the controlling shareholder Shandong Yiyang Health Industry Development Group Co., Ltd. (hereinafter referred to as “Shandong health”), with no more than 121928427 non-public shares, and is expected to raise no more than 1283564300 yuan. Among them, the number of shares to be subscribed by Shandong health in cash shall not be less than 28.77% of the total number of shares issued this time. The subscribed shares shall not be transferred within 18 months from the date of listing.
After deducting the issuance expenses, the fixed increase fund-raising of the company is intended to be used for intelligent manufacturing and supporting projects based on flexible processing production line, high-end precision minimally invasive surgical instrument production expansion project, pharmaceutical small capacity preparation intelligent production equipment industrialization project, Shinva Medical Instrument Co.Ltd(600587) high-end medical equipment research, development, inspection and testing Center project Industrialization construction project of high-performance radiotherapy equipment and medical imaging products, industrialization project of laboratory series products and supplementary working capital.
With regard to the use of RMB 380 million in this fund-raising to supplement the working capital required by the company’s daily operation, the company said that compared with the average asset liability ratio of 21.55% of Listed Companies in the same industry (as of September 30, 2021, Shenwan class 2 A-share listed companies in the medical device industry, excluding Shinva Medical Instrument Co.Ltd(600587) ), the company’s asset liability ratio has been high for a long time, and in 2018, 2019 66.38%, 59.57%, 57.95% and 55.36% in 2020 and January September 2021 respectively.
According to reports, Shinva Medical Instrument Co.Ltd(600587) is mainly engaged in medical devices, pharmaceutical equipment, medical services and medical commerce. In recent years, the company’s performance has fluctuated to some extent. From 2018 to 2020 and the first September of 2021, the company achieved operating revenue of RMB 10.284 billion, RMB 8.767 billion, RMB 9.151 billion and RMB 7.355 billion respectively, and net profit attributable to the parent company of RMB 23 million, RMB 861 million, RMB 234 million and RMB 438 million. Among them, in the third quarter of 2021, Shinva Medical Instrument Co.Ltd(600587) single quarter revenue fell by 24.56% year-on-year to RMB 1.894 billion, and the net profit attributable to the parent increased by 28.91% year-on-year, but decreased by 40.62% month on month to RMB 109 million, and the net profit attributable to the parent decreased by 49.02% year-on-year.
It is worth mentioning that in April 2021, Shinva Medical Instrument Co.Ltd(600587) announced that Shanghai Taimei, a subsidiary of the company, is the general agent of orthopaedic joints, nerve intervention and other products of Johnson & Johnson (Shanghai) Medical Devices Co., Ltd. (hereinafter referred to as “Johnson & Johnson Medical”). Affected by the centralized purchase of high-value medical consumables, taking into account the operating risks of the agency business and the level of gross profit margin, Shanghai Taimei and Johnson & Johnson Medical agreed to terminate the agency cooperation with Johnson & Johnson Medical on June 30, 2021. The termination of the agency Johnson & Johnson Medical business will have a certain impact on the operating revenue and net profit of Shinva Medical Instrument Co.Ltd(600587) in the short term. According to its disclosure, from January to September in 2019 and 2020, the operating revenue of Shanghai Taimei accounted for 25.82% and 27.15% of Shinva Medical Instrument Co.Ltd(600587) operating revenue respectively, and the net profit of Shanghai Taimei accounted for 7.5% and 28.93% of Shinva Medical Instrument Co.Ltd(600587) net profit respectively.
It should also be noted that on December 30, 2021, Shinva Medical Instrument Co.Ltd(600587) announced that it planned to acquire 40% equity of Xinhua surgical instruments Co., Ltd. (hereinafter referred to as “Xinhua surgical instruments”) held by German snake International Co., Ltd. on the basis of RMB 48.195 million and after deducting the relevant taxes that should be withheld and remitted, and converted according to the foreign exchange rate published by the people’s Bank of China on the day of payment. Meanwhile, the company plans to establish a high-tech medical device company jointly with Gaochuang investment enterprise, Yipin technology company, Zibo Industrial Technology Research Institute and Guangdong Kejian company, of which Shinva Medical Instrument Co.Ltd(600587) contributes 49 million yuan, with a shareholding ratio of 49%.
From the secondary market, in 2021, Shinva Medical Instrument Co.Ltd(600587) share price increased by 127.58%, during which the company’s share price once hit a high of 36.89 yuan / share in early September last year, with a maximum increase of 160.71%.
(interface News)
