Jolly pharmaceutical industry involved in questioning the premium acquisition of lost assets

Acquiring assets is one of the best catalysts for a a-share market. A full one-month suspension of the Jolly Pharmaceutical Industry (300181.SZ) July 6 night announced that the total expenditure of 150 million yuan to invest in cordyceps industry. NET assets of only 301,300 yuan of the company 31.94% of the equity (corresponding to net assets of only 96200 yuan) for 70 million yuan. In addition, there are obvious flaws in the capital contribution of the underlying company and have not been profitable since its inception. But yesterday jolly pharmaceutical industry still with a word trading face. The bizarre premium acquisition of net worth of only 301,300 yuan is the subject of how to sell such a high price? Yesterday, after the release of the Jolly pharmaceutical industry, many investors have expressed doubts. Jolly Pharmaceutical Industry Bulletin shows that in order to enrich the company's product varieties, enhance the company's future development potential and profit space, the company intends to use the initial public offerings of the super funds in the capital of 150 million yuan to invest in Qinghai Everest Cordyceps Pharmaceutical Co. The acquisition amount is 70 million yuan, in the cash way to the Everest cordyceps sinensis increases the capital 80 million yuan. After the transfer of equity and the completion of the increase in capital, the company will hold 51% of the stock of Everest cordyceps. Data show that the Everest cordyceps sinensis is currently the Qinghai Everest Herbal Medicine Industry Co., Ltd. (hereinafter referred to as "Qinghai Everest") alone shareholding. Everest Cordyceps sinensis was founded in 2013, the registered capital of 36 million yuan, originally for the Qinghai Everest with Siningheko Venture Capital Management Co., Ltd. jointly established, but only Qinghai Everest capital contribution of 300,000 yuan. This March, the Everest cordyceps sinensis again introduced three legal shareholders, but did not actually fund the exit. At the end of March this year, Qinghai Everest used trademarks and equipment evaluation value of 839600 yuan 830,000 yuan to the Everest cordyceps contributions. At this point, the actual investment of Everest cordyceps sinensis increased to 1.13 million yuan. The gap between its so-called registered capital of $36 million is still very large. And soon after the establishment of the Everest Cordyceps sinensis did not achieve profitability. Financial data show that 2013 Everest Cordyceps's main business income is zero, net profit of 173,700 yuan, net worth of 126300 yuan; the first five months of this year, the Everest Cordyceps continued to operate in a state of zero, loss of 655,000 yuan, net assets increased to 301,300 yuan. According to this calculation, net assets of only 301,300 yuan, 31.94% of the corresponding market value should be only 96200 yuan, but jolly pharmaceutical industry to pay up to 70 million yuan of the acquisition amount. According to the evaluation agency, the product of the Everest is relatively simple, the investment in fixed assets is relatively small, and the shareholder's contribution is not yet fully in place, and the result of the asset base law based on the book value cannot reflect the total equity value of the preparation company. and the Cordyceps preparation market is in the high-speed development stage, the similar product market demand is very broad, so the results of the evaluation according to the income method can more comprehensively and reasonably reflect the value of the shareholders of the unit. "Cordyceps pharmaceutical companies are currently a a-share market of scarce varieties, but such a high premiumIt was a bit of a surprise. "In an interview with the first financial daily, executives of a listed company in Shanghai said," and the future integration needs to be further attention, after all, the current target companies do not have revenue. "The lifting of the large shareholder is affected by the above-mentioned acquisition news, Jolly Pharmaceutical industry yesterday did not accidentally staged a word trading, and therefore Rong Deng SSE [Weibo] trading billboard." It is worth mentioning that the jolly drug industry, the actual controller Yu Youqiang previously said, will be reduced by August 23 to less than 7.2 million shares. Data show that the jolly Pharmaceutical industry on February 22, 2011 landed gem Market. February 25 This year, the release of the Jolly Pharmaceutical released notice, said the number of the lifting of the 44.55 million shares, accounting for 30.94% of the total stock of the company, the actual number of listed 11.1375 million shares, accounting for the total number of companies 7.73% , in which Yu Youqiang holding shares can actually be listed in the circulation volume of 11.1375 million shares. At the same time disclosed also has Yu You strong reduction plan, the announcement said because individual financial arrangement reason and the capital demand, Yu Youqiang plans to reduce by August 23 not more than 7.2 million shares company shares, namely does not exceed the total number of shares 5%.