Muyuan Foods Co.Ltd(002714) , China Animal Husbandry Industry Co.Ltd(600195) disclosed on April 12 that the two parties intend to establish a joint venture with Zhongmu Nanjing Animal Pharmaceutical Co., Ltd. (hereinafter referred to as “Zhongmu south medicine”), which is proposed to be called “Zhongmu Muyuan Animal Medicine Co., Ltd.” (hereinafter referred to as “Zhongmu muyuan”), and plans to invest about 471 million yuan to build Nanyang veterinary medicine production base.
According to the announcement, the registered capital of Zhongmu was 120 million yuan. Of which, China Animal Husbandry Industry Co.Ltd(600195) contributed 58.68 million yuan in cash, accounting for 48.9% of the registered capital Muyuan Foods Co.Ltd(002714) invested 57.6 million yuan in cash, accounting for 48.0% of the registered capital; Zhongmu Nanyao invested 3.72 million yuan in cash, accounting for 3.1% of the registered capital.
After the establishment of Zhongmu muyuan, it will invest in the construction of Nanyang production base project, mainly engaged in veterinary drug production, veterinary drug management, veterinary drug R & D and technical consulting services. The construction investment of the project is 471 million yuan. The construction fund of the project is solved by the registered capital of zhongmuyuan, and the insufficient part is solved by zhongmuyuan with self raised funds. The total construction period of the project is 2 years, of which the construction period is 1 year.
Muyuan Foods Co.Ltd(002714) said that the above investment projects are conducive to strengthening industrial linkage, improving the company’s disease prevention and control ability and enhancing the company’s comprehensive profitability by taking advantage of the advantages of China Animal Husbandry Industry Co.Ltd(600195) and Zhongmu South pharmaceutical in veterinary drug research and development.
