Lisheng Pharmaceutical high Price listed Tianjin Takeda Equity

Tianjin Lisheng Pharmaceutical Co., Ltd. (002393) holdings of Tianjin Takeda Pharmaceutical Co., Ltd 25% Equity September 10 in the property market listing, the part of the equity account of 16.85 million yuan, the price of the listing as high as 120 million yuan.　　If successfully transferred, Lisheng Pharmaceutical can not only recover the previous losses in the equity company, but also to obtain a good investment income. Lisheng Pharmaceutical August 20, the board of Directors disclosed that the company and Japan Takeda Pharmaceutical Industry Co., Ltd. Tianjin Takeda, from 2007 to 2009 consecutive losses, The cumulative amount has reached 109.267 million yuan, 2010 1-June also continued to lose money, the amount amounted to 23.37 million yuan, the same period last year increased losses of 12.39 million yuan, directly affect the Lisheng pharmaceutical business performance. At the same time, Lisheng pharmaceutical long-term equity investment from the initial investment of 41,428,280 yuan, reduced to the end of 2009 23.8338 million Yuan, shrinking 57.53%.　　In order to reduce losses and ensure the interests of all Lisheng pharmaceutical shareholders, it was decided to transfer all 25% per cent of the Takeda owned by Tianjin. The company's announcement said that the transaction price would be higher than Lisheng's original investment cost of Tianjin Takeda. The listing data show that as of the end of March 2010, Tianjin Takeda owners equity of 74.6206 million yuan, 25% equity corresponding equity of 18.65 million yuan. The evaluation report shows that as at the end of June 2010, Tianjin Takeda owner's equity of 206.4983 million yuan, 25% equity corresponding equity of 51.6245 million yuan.　　and the listing price compared to the value of evaluation has a substantial premium, up to 120 million yuan. Listed project requirements, in order to maintain the Tianjin Takeda in recent years to expand the scale of operations to ensure sustainable development, the requirements of the intention of the assignee must be in accordance with the 2009 Emmy "2010 World Review Magazine" for the world's top 20 pharmaceutical companies. The intention of the assignee paid-in capital shall not be less than 600 million yuan, at the same time, the total net assets of 2009 fiscal year is not less than 2 billion yuan.　　As of June 30, 2010, the intent of the assignee should be rated as grade A credit rating by Moody's and Standard Poole. In addition, the intent of the assignee shall be committed in writing, unconditional compliance with the company's board of directors resolution, including the adoption of joint ventures, amendments to articles of incorporation, appointment of directors, senior management, and other matters; accept the existing management and staff of the underlying company unless otherwise agreed by the original shareholder And commitment does not require the company with the existing management and staff to terminate the labor relations, the company's existing main business remains unchanged.