Innovative new three-panel high amount of M & A steam cow shares (430,463) Acquisition Chunmao Group matters, has been adopted by shareholders, is about to enter the implementation phase. Steam cow shares the major shareholder plans to its full Chunmao farming enterprises Chunmao group as a whole into the company, the transaction amounted to 489 million yuan. This shows that, since the shares listed on the continuous steam of cattle losses, losses will be achieved through acquisitions Chunmao group.
Due to lack of funds vapor cattle stock option trading on the price paid by the issuance of shares. Steam cow Shares will be issued 408 million shares to an all-Chunmao 37 Chunmao Group and other shareholders 1.2 yuan / share. After release, the major shareholder full control of steam Chunmao cattle stock has been further consolidated its stake increased from 37.21% to 76.80%.
It is worth noting that all aspects of the underlying asset Chunmao Group financial figures are much higher than the vapor cow shares. In September 2014, Chunmao Group achieved operating income of 863 million yuan, net profit of 39.7052 million yuan. The same period, operating income was only steam cow shares 51,684,500 yuan, loss of 7.2765 million yuan.
By the end of 2013, Chunmao Group's total assets and net assets were 913 million yuan and 78.3516 million yuan, 619.34 percent and 138.48 percent for the steam cow shares.
In fact, with the increasing competition in the market of agricultural machinery industry, salaries are rising and circulation costs continue to increase, net profit fell from steam cow shares of 11.2 million yuan in 2011 to 2013 of -133 million, 2014 9 May continued losses. After the acquisition, Chunmao Group will become a wholly owned subsidiary of steam cow shares, included in the consolidated financial statements, steam cow shares will be realized losses, while the total asset size, the size of net assets, profitability will significantly improve.
Chunmao Group is principally engaged breeder breeding hatching, chicks sales, broiler and sales, feed processing and sales of its main products for the slow type three yellow chicken. Broiler industry is Chunmao Group and its subsidiaries operating foundation and core industries, is the main source of the Group's revenue and profit Chunmao. Full Chunmao commitment Chunmao Group FY2014, after deduction of non-fiscal 2015 net profit of not less than 96 million yuan and 162 million yuan.
Steam cow shares, said the transaction is completed, the shares will be a single steam cow farm machinery manufacturer into a three-yellow chicken breeding and sales at the core, both food processing, fast-food chains, agricultural cultivation, agricultural machinery and electrical equipment manufacturing and land development and operating an integrated business of listed companies, a single business operation risk will be dispersed, the main business revenue structure will be improved, operating performance can be significantly improved.
Since listing, the shares traded steam cow has not active. In this regard, he expressed steam cow stock market after the merger choose to transfer intentions. Meanwhile, after the injection of steam cow Chunmao Group shares, will also change its reliance on its own funds, the development model of bank loans, listed companies can take advantage of future financing function, select a variety of debt or equity financing instruments through direct financing to achieve the company's capital structure optimization.
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