Changchun High-new premium 12.76 times to buy a 29.5% stake in Kinsey Pharmaceuticals

November 10, Changchun Gaoxin announced a related transaction report and decided to buy a 29.5% stake in Kinsey Pharmaceuticals at a premium of 12.76 times. Changchun Gaoxin intends to raise matching funds by non-public offering of shares to no more than ten eligible specific investors.Based on the results of the income method assessment, the book value of owner's equity in the statement of the parent company of benchmark Sunsai Pharmaceuticals was 146,987.58 million yuan, the value of the assessment was 2,023,195.58 million yuan, the value added was assessed at 1,876,208.00 million yuan, and the value-added rate was 1276.44%. The parties to the transaction determined that the transaction value of all shareholders' equity in Kinsey Pharmaceuticals was $1,910,775.58 million and that the transaction value of the underlying asset, a 29.50% stake in Kinsey Pharmaceuticals, was $563,678.79 million.The underlying asset of the transaction is a minority stake in holding subsidiary Kinsey Pharmaceuticals, and after the completion of the transaction, the listed company's stake in Kinsey Pharmaceuticals will be increased from 70% to 99.50%. Jinsai Pharmaceuticals is mainly engaged in the research and development, production and sale of biopharmaceutical products, the main products for injection recombinant human growth hormone (powder needle), recombinant human growth hormone injection (water needle), polyethyl glycol recombinant human growth hormone injection (long-acting water needle) and other recombinant human growth hormone products. As a core operating asset of Changchun High-rise, Jinsai has been performing well, with revenue of 2.14 billion yuan and net profit of 823 million yuan in the first half of 2019. There are also a number of products in research, the vast majority of which are therapeutic biological products, in addition to the past focus on the field of growth diseases, but also related to tumor-related monoantial research and development.Changchun High-tech in 1997 with funds to invest in Jinsai Pharmaceuticals, Jin Lei to invest in technology, the two sides held 70% and 24%, respectively. Changchun High-tech as early as 2012 proposed a share swap plan, trying to achieve a 100% control of Jinsai Pharmaceuticals, but the two sides ultimately did not close the transaction price. 3/6/2019, Changchun Gaoxin announced that it intends to issue shares and convertible bonds to Jinlei and Lin Tianhai for 174.49 yuan per share to purchase 30% of its shares in Jinsai Pharmaceuticals. At the same time, Changchun Gaoxin intends to raise matching funds by non-publicly issuing shares or convertible bonds. Finally, in November's restructuring, Changchun Gaoxin achieved a 99.5 percent stake in Jinsai. (Medical Rubik's Cube)