On the evening of March 21, Star Lake Bioscience Co.Inc.Zhaoqing Guangdong(600866) ( Star Lake Bioscience Co.Inc.Zhaoqing Guangdong(600866) ) announced that the company plans to purchase 99.22% equity of Yipin biology by issuing shares and paying cash, and the price of the issued shares shall not be less than 4.97 yuan / share. After the completion of this transaction, Yipin biology will become the holding subsidiary of the listed company. At the same time, the company plans to raise matching funds through non-public offering of shares to pay the cash consideration, intermediary fees and supplement the working capital of Listed Companies in this transaction.
The announcement shows that the main products of Yipin biology are feed and food additives such as lysine, threonine and monosodium glutamate, fresh flavoring, compound fertilizer, etc. With years of accumulation, Yipin biological business scale has increased year by year and has grown into an important leading enterprise with global influence in the biological fermentation industry. From 2020 to 2021, Yipin biological achieved an operating revenue of 11.081 billion yuan and 14.665 billion yuan respectively, and a net profit of 828734 million yuan and 366 million yuan respectively The Star Lake Bioscience Co.Inc.Zhaoqing Guangdong(600866) third quarterly report shows that the company achieved an operating revenue of 825 million yuan and a net profit attributable to the parent company of 80 million yuan in the first three quarters of 2022. The implementation of this M & A is expected to increase the profitability of the company.
At present, the transaction pricing of Yipin biological and the proportion of shares and cash payment in this transaction have not been determined. Relevant matters will be subject to the final plan confirmed by both parties after the audit and evaluation of the underlying assets are completed.
