Gaogao Capital invests in Haizheng Pharmaceuticals.

Pharmaceutical Network July 22 - Since this year, gaogao Capital's layout in the field of biomedicine has attracted much attention. On July 8,
, Zhejiang Haizheng Pharmaceutical Co., Ltd. ("Haizheng PharmaceuticalCoG") issued a suspension announcement on the planning of a major asset restructuring. On the evening of July 20,
, Haizheng Pharmaceuticals announced that it intends to issue shares to HPPC, convertible corporate bonds and pay cash to purchase the underlying assets, and raise supporting funds in the form of non-public offering of shares and convertible corporate bonds, with a total amount of supporting funds of not more than 1.5 billion yuan.
a person close to Gaohao Capital told reporters that the announcement of the restructuring of the transaction target (Hanyu Pharmaceutical Co., Ltd., referred to as "Hanyu Pharmaceuticals") in recent years, the rapid development of the high-speed development can not be separated from Gaohao Capital in the strategic, sales and other directions of the long-term empowerment.
expects that after the completion of the transaction, Gaoyu Capital will also continue from its previous emissual power to long-term investment in Haizheng Pharmaceuticals.
the latest announcement issued by Haizheng Pharmaceuticals, which uses innovative methods to complete the equity adjustment, said that after preliminary estimates, the pre-valuation of 100% of Hanyu Pharmaceutical's equity was initially determined to be between 8.850 billion yuan and 9.15 billion yuan, with the estimated transaction price of the underlying assets (i.e., 49% of the underlying company' equity) at RMB4.337 billion to 4.484 billion.
, 65% of the remaining transaction price (i.e., the underlying asset transaction consideration less the transaction consideration paid by the listed company to HPPC in cash is RMB1.5 billion) is to be paid in cash, and 35% of the remaining transaction price is paid by issuing convertible corporate bonds.
reporters to check found that HPPC is the holding fund of Gaoyu Capital.
HPPC's current sole shareholder is Sapphire, whose indirect controlling shareholder is SAP-III Holdings L.P., and SAP-III Holdings L.P.,'s limited partner is a fund managed by Takata Capital.
in addition, the restructuring is also relatively novel, using the "equity plus cash and targeted convertible bonds" approach.
"If the acquisition of Hanyu Pharmaceuticals is to be acquired by issuing shares, it is likely to dilute shareholders' equity shares, and if the listed cash acquisition is adopted, it will put greater cash pressure on listed companies."
", a close to Gao Hao's people familiar with the situation told reporters that the "equity and cash plus targeted convertible bonds" trading model, is based on the consideration of the interests of all parties and the degree of acceptance of the adoption of the way, not only to ensure the listed company's state-owned holding position, strengthen the listed company's control over Hanyu Pharmaceuticals, will also effectively introduce Gao's participation in its long-term development.
at the same time, to further promote the ownership of employees to land, streamline the corporate governance structure.
it is understood that in May 2012, Haizheng Pharmaceuticals, Haizheng Hangzhou And Pfizer set up Haizheng Pfizer Co., Ltd. ("Haizheng Pfizer"), in 2017 HPPC from Pfizer to buy a 49% stake in Haizheng Pfizer and so far, in 2018 Haizheng Pfizer renamed Hanyu Pharmaceuticals.
public data show that in 2017-2019, Hanyu Pharmaceuticals achieved operating income of RMB3,978 million, RMB 3,819 million and RMB4.299 billion, with net profit attributable to the parent company amounting to RMB489 million, RMB 529 million and RMB 541 million, respectively.
the long-term layout of the field of medicine, in fact, during the year, gao's layout in the field of medicine frequently.
According to incomplete statistics of reporters found that during the year listed companies announced asset restructuring or listing and listing of high-rise capital-related matters as many as a few.
for example, in March this year, Hualan Bio brought in strategic investors, With more than 1.2 billion yuan invested by GaoYu Capital, And in addition to over HK$1.3 billion, Gaoyu Capital invested more than HK$1.3 billion to increase its stake in MinimalcoPharmaceutical, and Tag Pharma, which was listed on the Hong Kong Stock Exchange, was ranked as the company's ninth largest shareholder after several increases.
, Kangji Healthcare, listed on the Hong Kong Stock Exchange, has introduced seven cornerstone investors, including Gao Gao, BlackRock and Oaktree Capital.
May to June, listed Haigia, Gan li Pharmaceuticals also have different degrees of participation in Gaoyu Capital. Why
why is Gao Gao's capital in the pharmaceutical sector in a big move? Another close to Gao's people told reporters that, in fact, gaogao Capital in the field of biomedicine layout as early as a few years ago has begun, but from the enabling to the company listed, its time cycle is not consistent, but some projects in this year's concentration. Yi Noqing, a partner of
Gaoyu Capital, has also said that the company's investment in biomedicine will not directly operate the industrial platform, but by attracting high-end talent, and as an entrepreneurial partner to operate the company;
.