Diving medical market value of three months evaporation 3.2 billion acquisition of Huarun Wandong or the current twists and turns

Although diving medical treatment for the acquisition of China Resources Wandong determination is very large, but did not get the capital market welcome. In just three months, diving medical prices staged a roller-coaster crash. From the February 11 before the end of the recovery from the late April after the decline, its share price has been closing from February 11 to 30.65 yuan/shares fell to the May 8 close of 24.50 yuan/shares, market value loss of 3.27 billion yuan. Industry insiders believe that the fish diving medical acquisition of resources Wandong fortunes, met with China Resources chairman Song Lin was CCDI investigation, China Resources system began to turbulence, this acquisition adds a lot of uncertainties. But even so, diving medical purchase determination is still very large, this is mainly because diving medical equipment in the past rely on home medical device products to support the situation has been unsustainable, so it should be at the cost of entering the clinical medical device market, the acquisition of China Resources Wandong is a rare opportunity. Tumbling stock prices have added a bit of a twist to the takeover. April 24, diving medical release of the holding shareholder diving Technology Development Co., Ltd. is to acquire Huarun Wandong and the armed group assets announcement, in order to the company's history of the largest acquisition, diving medical treatment from February 12, until the April 24 recovery card. But after the card diving medical prices fell all the way, from the February 11 peak of the close of 30.65 Yuan fell to May 5 at the bottom of the 23.61 yuan. Since then, diving medical prices began to rebound, to May 8, the stock price slowly rose to 24.50, still fell 20% before the suspension. An industry personage analysis, diving medical treatment originally announced the acquisition of Huarun Wandong and on the armed group, the event on the stock price of the impact is to be seen, but diving medical share price plunged a week, an important reason is the market is not good, it also difficult to escape the trend. According to wind data statistics, February 12, diving medical treatment since the suspension, the pharmaceutical biological plate has fallen to 7.02%. and diving medical acquisition encounter the most important blow is China Resources Group Chairman Song Lin was investigated. According to the reporter understand, Song Lin was dismissed, by the original China Merchants Group Chairman Fu Yuning successor, the new helm brought new uncertainties, according to the China Resources Pharmaceutical group listed companies of China Resources Sanjiu announced May 6, two companies have stopped the planned major asset reorganization. According to the April 22 Huarun Medicine announced the sale of medical device asset Program said, China Resources Wandong The transfer price is not less than 10.2440 yuan/share, that is, the price of the sale of CR Wandong should be no less than about 1.14 billion yuan. And according to the Shanghai United Property Exchange Huarun Medicine sold on the armed group 100% stake information, China Resources Medicine to sell the armed group price of 691.49 million yuan. The combination of the two means that diving technology at least need to pay more than 1.84 billion yuan, is at the cost of money. The industry said the Song Lin event of the fermentation also let the industry questioned, diving medical acquisition of Huarun Wandong will be like the CRC and CRC 39 reorganization as abruptly, these for the acquisition of the sudden emergence of some uncertainty. "It might have made the originalOptimistic about diving medical acquisition Huarun Wandong of the hot money exit speculation, the final share price began to fall. "For China resources to replace the boss will let China Resources Wandong from already listed for sale of the trading market exit, diving medical director Chen Jian to" China Business newspaper "Reporter said that this possibility is very small," the exchange is not likely to be listed on the listing, do not want to hang up the listing, there are procedures and rules, This rule is not China resources can be around, not even Sasac [Weibo] can be around. "Chen Jian that the China Resources group to sell China Resources Wandong and the integration of CRC, China Resources 39 is not the same thing, Huarun double cranes, CR 39 is the enterprise of China Resources group, with independent decision-making power, but China Resources Wandong has been listed, it must be in accordance with market rules." His meaning is obvious, anyhow, diving medical treatment to Huarun Wandong. "China Resources group should be very cautious in transferring the state assets of its medical devices to because two enterprises have more than 3,000 employees, is two entities, and medical equipment is very professional, medical imaging category is more complex, no strong strength, not professional buyers are not good operation. "Chen Jian said. Buyers are seen as the most profitable and promising areas in the pharmaceutical sector, in the field of medical devices. Although this area attracts a large number of investors, but in this field, in addition to diving medicine, there is strength and strong desire to acquire Huarun Wandong is not much. As one of the main competitors of Diving Medical Care Electronics Co., Ltd. Shenzhen, in 2006, listed in the United States, only 2012 years income of 1.06 billion U.S. dollars, in the medical device industry is regarded as "made in China" benchmarking enterprises, capital and strength are very strong. Whether the company will buy China Resources Wandong in midstream, one industry personage thinks the likelihood is not big, he says, the medical device of the person that has already entered the United States, succeeds in entering the middle end market, the profit is also relatively rich, and the Huarun Wandong basically still in the low-end market to fight, the profit is meager, this has not much attraction to the Mary. The industry said, "Mary has its own ready-made, complete network, it and China resources wandong business overlap too large, after the acquisition is bound to ' off ' side, this is not trouble? "And the old enterprise Xinhua Medical (600587.SH) is also an important force in the domestic medical device market, and was seen as a strong competitor for diving medical bids." Xinhua Medical 2013 Annual report shows that the company achieved sales income of 4.19 billion yuan in 2013, vested in the listed company shareholders of the net profit of 230 million yuan. By contrast, in 2013, diving medical business income of 1.424 billion yuan, only 1/3 of Xinhua medical care, to achieve the ownership of the parent company's shareholders net profit of 258 million yuan, but more than the latter. "Xinhua Medical Plate so large, net profit so low, it is impossible to become a buyer, because the acquisition of China Resources medical equipment is to use real gold and silver, and both sides of the business overlap is also very large." A medical analyst said. In fact, Xinhua medical Service suspended from this February to carry out a major asset reorganization until the April 19 this yearBrand, the acquisition of the target for the Chengdu-Germany Biomedical Equipment Technology Co., Ltd. 85% Equity, the valuation value of 370 million yuan, it is naturally difficult to open up the second battlefield, and diving medical to compete for resources Wandong. Data show that in 2013, the operating income of diving medical treatment was 1.424 billion yuan, the net profit attributable to shareholders of the parent company was 258 million yuan. In the same period, the operating income of CR Wandong was 764 million yuan, and the net profit attributable to shareholders of the parent company was 43.62 million yuan. The 2013-year operating income of the armed group is 745 million yuan and the net profit is only 42.77 million yuan. Industry analysis, diving medical profitability far more than Huarun Wandong, on the armed group, completely have the strength to swallow two, and its few competitors, therefore, huarun wandong flower diving medical treatment should be no accident, but China Resources department because of the Song Lin incident to its acquisition timetable or impact, The new leadership is also important to support the sale of the asset. Short board diving medical reasons to pursue China resources Wandong, because of its business short board, this short board is medical clinical medical devices. According to Diving Medical 2013 annual report, in 1.42 billion yuan sales, medical clinical medical equipment only 196 million yuan, rehabilitation care products accounted for 841 million yuan, medical oxygen supply products accounted for 383 million yuan. It can be said that holding up diving medical performance is mainly home products, rather than medical clinical medical devices. "Oxygen generator has been diving medical products, sales accounted for a large proportion." "Rehabilitation home medical Device Chain Co., Ltd. chairman Bei said." Bei said that six or seven years ago when diving medical began to do the oxygen machine, the national market only more than 30,000 units of the scale, and diving medical into the industry for six or seven years, the national market in its drive has expanded to 600,000 to 700,000 units, increased by 20 times times. Bei estimated that at present, diving medical oxygen generator sales of about more than 200,000 units, not only the eldest of this product, is also about to become the largest international market production of the eldest, diving medicine in the domestic oxygen generator market occupies more than 30% of the share, which is close to saturation. Now diving medical treatment is faced with a large number of competitors appear, prices continue to reduce, although the oxygen generator still has a certain technical threshold, but this threshold is now very easy to be a competitor breakthrough. and medical clinical medical device market stability, the benefits are considerable, diving medicine must enter the field of medical clinical medical devices, only two legs to walk in the face of adverse circumstances to calmly deal with the crisis. On the other hand, home medical devices are experiencing sales channels change, from the traditional channels to e-commerce transformation, which will inevitably bring crisis to traditional enterprises. In this case, the original has a smooth domestic retail outlets sales channels of diving medical future is also facing changes, and access to medical clinical medical devices in the field, you can avoid this transformation brought about by the market impact. So whether the successful acquisition of China Resources Wandong for diving medical care is extremely urgent and important. According to China Resources Wandong's announcement, its assets have been pegged on April 23 in the Shanghai Joint Equity Exchange, and the deadline for the public solicitation process and the public listing is May 21, 2014, which means that on this day, the success of the acquisition will eventually be settled.