On March 25th, Beijing Chengyitong Control Engineering Technology Co., Ltd. (hereinafter referred to as “Shengyitongâ€) disclosed the company's assets restructuring draft, and acquired “Guangzhou Longzhijie†and “Beijing Bozhihong†through the issuance of shares and payment of cash. 100% equity, plus the field of rehabilitation physiotherapy medical equipment. Chengyitong is a supplier of automation systems for the bioengineering and pharmaceutical industries. It landed on the GEM in March last year. This time, the company's first reorganization after listing was involved in the popular medical device field, and the performance of many domestic medical device companies is declining. Under such circumstances, can Chengyitong's layout of medical devices win?
Improve the industrial chain
Chengyitong will acquire Longzhijie, a company specializing in R&D, production and sales of rehabilitation physiotherapy medical devices; Bo Rihong is a packaging equipment company in Beijing. According to the announcement, Chengyi plans to issue 3.04 million shares, 1.52 million shares, 1.28 million shares, 57 yuan to the five parties of Luo Yuanlong, Luo Xiaobing, Luo Xiaozhu, Tian Zhuang and Agile Rehab Technologies Limited at a price of 53.19 yuan per share. 10,000 shares and 960,000 shares; intends to pay a consideration of 68.15 million yuan and 51.2 million yuan to Luo Xiaoping and Agile Rehab Technologies Limited to purchase 100% of the total shares of Long Zhijie.
In addition, the company intends to issue a total of 2.08 million shares to the nine counterparties such as Wu Yuquan and Chang Haiguang at a price of 53.19 yuan per share, and pay a total of 19.5 million yuan in cash consideration to purchase the total holder of Bo Rihong. 100% shares.
It is understood that Chengyitong is a supplier of automation systems for the bioengineering and pharmaceutical industries. Its wholly-owned subsidiary, Beijing Dongfang Chengyitong Technology Co., Ltd., is engaged in the research and development and sales of medical device products in the fields of infusion, monitoring and anesthesia. The acquisition of Long Zhijie is mainly focused on the development, production and sales of rehabilitation physiotherapy medical devices, covering physical therapy, clinical testing, medical beauty and other fields. For the investment in the medical equipment field, Chengyitong said that Longzhijie's main business is medical equipment, which is consistent with its wholly-owned subsidiary Dongfang Chengyitong's main business, so the acquisition of Longzhijie is in line with the company. The development needs, the company is very optimistic about the prospects of the medical device industry .
It is worth noting that the restructuring assessment agency has given a higher valuation to Long Zhijie. According to the data, as of December 31, 2015, the audited book net assets of Longzhijie (parent company) was RMB 68.69 million, which was evaluated by the income method. The estimated value of 100% equity of Longzhijie was 512 million yuan. After the audit, the net assets of the underlying assets (parent company) increased by 433 million yuan, with a value-added rate of 550.81%. This seems to confirm the confidence and prospects of Chengyitong's acquisition of Longzhijie Plus Medical Devices.
Shi Lichen, head of Beijing Dingchen Medical Consulting Center, said that the acquisition of the two companies by Chengyitong is intended to improve its own industrial chain.
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