On January 4, A-share old property listed company Nacity Property Service Group Co.Ltd(603506) (603506. SH) and Wuchan Zhongda Group Co.Ltd(600704) Medical Health Investment Co., Ltd. (hereinafter referred to as “CUHK medical”) officially signed an equity transfer agreement at Zhejiang property exchange, Nacity Property Service Group Co.Ltd(603506) acquired 100% equity of Hangzhou Zhongda Property Service Co., Ltd. (hereinafter referred to as “Zhongda property”) and 80% equity of Zhejiang Zhongda Pratt & Whitney Property Co., Ltd. (hereinafter referred to as “Pratt & Whitney property”) with RMB 132 million.
According to the 21st Century Business Herald reporter, this is also the first cooperation between the two sides since Nacity Property Service Group Co.Ltd(603506) and Wuchan Zhongda Group Co.Ltd(600704) signed a strategic cooperation agreement in September 2021.
Prior to this, Nacity Property Service Group Co.Ltd(603506) announced on December 31, 2021 that it planned to change the “national property service business development project” to raise 67.8648 million yuan for the acquisition of 80% equity of Pratt Whitney property.
The announcement also shows that Nacity Property Service Group Co.Ltd(603506) has participated in the bidding for 100% equity of CUHK property and 54.2% equity of Pratt Whitney property listed and transferred by CUHK medical in Zhejiang property exchange the previous day (December 30, 2021). According to the bidding results, Nacity Property Service Group Co.Ltd(603506) became the transferee of 100% equity of CUHK property and 54.2% equity of Pratt & Whitney property, with a transfer price of 91.6331 million yuan. Meanwhile, according to the transfer intention of Hangzhou Zhongda Pratt & Whitney enterprise management partnership (limited partnership), the former shareholder of Pratt & Whitney property, 25.8% equity of Pratt & Whitney property was transferred at the same price as the state-owned equity transfer, and the transfer price was 40.4823 million yuan.
Therefore, the cumulative transaction price of the bidding and transferred equity is 132 million yuan.
So far, in addition to the fund-raising of 67.8648 million yuan for the planned change of the raised investment project, the insufficient part is made up by Nacity Property Service Group Co.Ltd(603506) own funds.
Previous announcements showed that CUHK property was 100% owned by CUHK medical; Pratt & Whitney property is 74.2% owned by CUHK medical and 25.8% owned by Hangzhou CUHK Pratt & Whitney enterprise management partnership (limited partnership). The actual controllers behind the two property companies are Zhejiang SASAC.
According to the audit report, as of October 31, 2021 (Unaudited), Pratt Whitney property realized a revenue of 129 million yuan and a net profit of 11.8341 million yuan from January to October 2021; As of October 31, 2021 (Unaudited), Zhongda property realized a revenue of RMB 33 million and a net profit of RMB -2127200 from January to October 2021.
Nacity Property Service Group Co.Ltd(603506) said that as a comprehensive state-owned property service company, Pratt Whitney property and Zhongda property, the subject of the acquisition, are a subsidiary of Wuchan Zhongda Group Co.Ltd(600704) medical under Wuchan Zhongda Group Co.Ltd(600704) group. In addition to housing, the types of projects under management also include hospitals, shopping malls, public buildings, industrial parks and other projects that need to have certain professional service capabilities.
In the past 2021, Nacity Property Service Group Co.Ltd(603506) established the medical industry department to vigorously layout the hospital business service track. During the year, it successively won the four major hospital projects of Zhejiang Kangjing hospital, Luoyang Kyoto Cancer Hospital, Lvcheng stomatological hospital and Hangzhou hospital of Zhejiang ophthalmic hospital to provide a full set of professional medical logistics services. On this basis, adding this acquisition, Nacity Property Service Group Co.Ltd(603506) said that it can further strengthen the service ability of subdivided scenes, strengthen the competitiveness in subdivided tracks such as hospital property management, and expand the scene service advantages in core subdivided fields.
For this cooperation, Nacity Property Service Group Co.Ltd(603506) Chairman Han Fang and CUHK medical Chairman Hong Weiliang said they would work together to accelerate the acquisition and landing of CUHK property and Pratt Whitney property. After the completion of the transaction, Nacity Property Service Group Co.Ltd(603506) will go hand in hand with CUHK property and Pratt & Whitney property through resource integration, empowerment, improvement of operation system and incentive mechanism, so as to promote the high-quality coordinated development of both sides.
(21st Century Business Herald)
