Kyrgyz holding terminated the acquisition and corrected the difficulty of listing

On the evening of July 10, Kyrgyz holdings issued a notice of suspension of major asset restructuring The company plans to purchase 100% equity of the amended Pharmaceutical Group Co., Ltd (hereinafter referred to as "the amended pharmaceutical") by issuing shares and other means, giving the hope that the amended pharmaceutical backdoor listing will impact A shares In the evening of July 24, Pingdi Yisheng thunder, Kyrgyz holdings issued a notice to terminate the issuance of shares and other ways to purchase and modify the equity matters of Pharmaceutical Group Co., Ltd., and the stock resumed trading, breaking the dream of backdoor listing of the modified pharmaceutical industry Previously (July 10), Kyrgyzstan Pharmaceutical Holdings announced that it planned to purchase 100% of the equity of the amended Pharmaceutical Group Co., Ltd by issuing shares and other means Before the reorganization and suspension of trading, the market value of Kyrgyzstan Pharmaceutical Holdings was 3.6 billion yuan According to the information on the official website of the amended pharmaceutical industry, as early as 2015, the amended pharmaceutical industry realized 58.8 billion yuan of output value, 57.5 billion yuan of sales revenue, 4 billion yuan of profits and taxes, 64.6 billion yuan of output value and sales in 2016 The sales revenue is 63.6 billion yuan and the profit and tax are 4.76 billion yuan At the same time, according to the list of the top 100 pharmaceutical industries in 2019 released by the chamber of Commerce of medical and pharmaceutical industry of the all China Federation of industry and commerce, the revised pharmaceutical industry ranked second in the list In view of the huge volume gap between the two sides, the acquisition of Kyrgyz holdings is considered as "snake swallowing elephant" by the industry, which is to amend the pharmaceutical industry's intention to borrow the shell to list Kyrgyz holdings If the asset restructuring is completed, the deal is expected to become the largest backdoor case in the pharmaceutical industry However, good times did not last long, Kyrgyz holdings announced the termination of the acquisition As for the reasons for termination of acquisition, Kyrgyz holding said that since the commencement of this major asset restructuring, the company, revisionpharma Group Co., Ltd and various intermediaries have actively promoted the details of this major asset restructuring, and repeatedly considered and studied the feasibility involved in this major asset restructuring transaction plan After full argumentation by all parties, this major asset restructuring transaction plan has constituted the amendment of the restructuring and listing of Pharmaceutical Group Co., Ltd According to the "decision on Amending the measures for the administration of major assets reorganization of listed companies" (Draft for comments) "issued by the CSRC on June 20, 2019, the detailed rules for the implementation of the measures have not yet been issued After friendly consultation between the company and the amended Pharmaceutical Group Co., Ltd., the company will continue to promote the purchase of 100% equity of the amended Pharmaceutical Group Co., Ltd by means of planning the transfer of the controlling right of the listed company, planning the issuance of shares, etc., until the specific implementation conditions of the measures are mature The announcement shows that both parties to this major asset restructuring transaction jointly signed the intention agreement on July 10, 2019, but did not reach a substantive agreement on the specific transaction plan The termination of this major asset restructuring is the result of careful study by Kyrgyz holdings and friendly negotiation with the counterparty Both parties have signed the agreement to terminate the intent agreement, without any liability for breach of contract to the other party in respect of the termination of the relevant agreement on restructuring The termination of the major asset restructuring will not have an adverse impact on the current production and operation activities, financial situation and future development strategic planning of Kyrgyz In the future, Kyrgyz holdings will seek more development opportunities, cultivate new profit growth points, promote the sustainable and healthy development of the company, and effectively safeguard the interests of the majority of shareholders in combination with the actual situation of business development At the same time, Kyrgyz holding promised that in accordance with the management measures for major asset restructuring of listed companies, Shenzhen Stock Exchange Guidelines for information disclosure of listed companies No 3 - major asset restructuring and other provisions, the company promised not to plan any major asset restructuring matters within one month from the date of disclosure of this announcement.