Interface News reporter | Chen Huidong
Yifei Laser (688646)Bally'spokerroomAccording to a notice issued on the evening of May 23, the company plans to use its own funds to buy 51% of Wuxi Xinjuli Technology Co., Ltd. (hereinafter referred to as "Xinjuli") at a premium of 30 million yuan.Bally'spokerroomAfter the completion of the transaction, Xinjuli will become a holding subsidiary of the company. The purpose of this transaction is to integrate the resources of both sides, give full play to the synergistic benefits of intelligent logistics and intelligent equipment, and promote the high-end, intelligent and green of intelligent manufacturing.
The above announcement shows that the examination period of this transaction is from 2024 to 2026, and the target net profit achieved by Xin Ju Li is not less than 24 million yuan, 36 million yuan and 60 million yuan respectively, that is, the cumulative target net profit during the examination period is not less than 120 million yuan. If the sum of the net profit of the new cohesion reaches 80% of the cumulative target net profit during the assessment period, and there is no significant adverse impact on the company due to other breach of contract, the company will further acquire all the remaining shares of the new cohesion; if the sum of the net profit of the new cohesion during the assessment period is less than 60% of the agreed target net profit, the company has the right to require the transferor or the target company to buy back all or part of the shares.
The new cohesion of the target company will not turn around its performance and turn its net assets into regular assets until 2023. In 2022 and 2023, the revenue of Xunli was 17 million yuan and 105 million yuan respectively, the net profit was-13 million yuan and 17 million yuan respectively, and the net assets were-14 million yuan and 322 million yuan respectively.
Xin Jili is an EPC-level intelligent logistics system solution service provider integrating planning and design, software development, digital twins, equipment manufacturing, project implementation and after-sales service. Its products are widely used in new energy batteries, semiconductors, consumer electronics, medical and health and other industries. Xin Ju Li's main products include new energy battery whole plant logistics system, semiconductor CIM software, semiconductor AMHS equipment, intelligent warehousing and logistics system, automatic transportation and sorting system, digital factory visualization platform system, intelligent factory information management system and logistics line core equipment supply services.
As of the evaluation base date, according to the asset-based method, the book value of Xinzhu's net assets is 3.9516 million yuan, the evaluated value is 12.3366 million yuan, the evaluated value is 8.385 million yuan, and the value-added rate is 212.19%. Evaluated by the income method, the market value of all rights and interests of Xin Jili is 70.18 million yuan, the estimated value is 662.85 million yuan, and the value-added rate is 1676.02%.
According to the announcement, this evaluation chooses the results of the income method as the final result of the value of all shareholders' rights and interests of Xinzhu. The total equity value of Xinjuli shareholders is determined to be 70.18 million yuan. Based on the evaluation value of 70.18 million yuan and through consensus among the parties to the transaction, it is determined that the total transaction price of 51% of the shares in the target company is 30 million yuan.
Yifei Laser was founded in 2005 and landed on Kechuangban in July 2023. The company is mainly engaged in precision laser processing intelligent equipment research and development, design, production and sales. The main products include lithium battery cell automatic assembly line, module / PACK automatic assembly line and all kinds of precision laser processing intelligent special machine, which are widely used in lithium battery, household appliance kitchen and bathroom, assembly construction and other industries.
The annual operating income of Yifei Laser in 2023 was about 697 million yuan, an increase of 29.36 percent over the same period last year; the net profit belonging to shareholders of listed companies was about 101 million yuan, an increase of 7.7 percent over the same period last year.
In the first quarter of 2024, Yifei Laser realized operating income of 119 million yuan, an increase of 4.69% over the same period last year, down 48.72% from the same period last year; the net profit of returning home was 15.84 million yuan, up 82.58% from the same period last year and down 68.85% from the previous year; the net cash flow generated by operating activities was-55 million yuan, which continued to decline compared with the same period last year.
It is worth mentioning that the financial situation of Yifei Laser is hardly optimistic. By the end of the first quarter of 2024, the balance of monetary funds on the company's books was 244 million yuan, a decrease of 34% compared with the beginning of the year; the total current liabilities were 717 million yuan; and the net cash flow generated by the company's operating activities in the same period was also a net outflow of 55 million yuan.
Yifei Laser first quarter report disclosed that as of March 31, 2024, the number of shareholders of the company was 6963, a decrease of 5477, or 44.03%, compared with the previous period (December 31, 2023). The number of shareholders in the company is lower than the industry average. According to Choice data, as of March 31, 2024, the average number of shareholders of listed companies in the machinery and equipment industry is 27700. Among them, the number of shareholders in the range of 10,000 to 20,000 accounts for the highest proportion, accounting for 26.84%.