On May 7, Henan Shuanghui Investment Development Co., Ltd. (hereinafter referred to as “Shuanghui Development”, 000895) issued an announcement that in order to achieve professional management and centralized management of investment equity, the company plans to acquire Rotex Co., Ltd. The total amount of consideration held by Shanghai Shuanghui and other six companies is 730 million yuan.
The announcement shows that the six companies are Shanghai Shuanghui Dachang Co., Ltd., Luohe Shuanghui Eco Bio-Environmental Protection Co., Ltd., DuPont Shuanghui Luohe Protein Co., Ltd., and DuPont Shuanghui Luohe Food Co., Ltd. Company, Wuhu Shuanghui Import and Export Trading Co., Ltd., Smithfield (Shanghai) Food Co., Ltd. After the acquisition is completed, Shanghai Shuanghui, Yike, Wuhu Import and Export, and Shanghai Smith will become wholly-owned subsidiaries of Shuanghui Development, and DuPont Protein and DuPont Food will become their joint-stock companies.
It is reported that Rotex is a project company incorporated in Hong Kong specifically to participate in the Shuanghui Group equity transfer project. In September last year, Shuanghui Development completed the absorption and merger of its parent company Shuanghui Group with 40.2 billion yuan. The Shuanghui Development shares held by Shuanghui Group were cancelled, and Rotex became the company’s controlling shareholder, holding 73.41% of the shares.
Shuanghui Development is China ’s largest meat food company with its headquarters in Luohe City, Henan Province. The company has established 30 modern meat processing bases and supporting industries in 18 provinces (cities) across the country, forming a complete industrial chain for feed, breeding, slaughtering, meat product processing, new material packaging, cold chain logistics, chain commerce, etc. .
The first quarterly report shows that Shuanghui Development achieved a total operating income of 17.592 billion yuan from January to March this year, a year-on-year increase of 46.94%; a net profit attributable to shareholders of the parent company of 1.465 billion yuan Yuan, a year-on-year increase of 13.82%.
Closed on May 7, Shuanghui Development closed at 42.19 yuan / share, up 1.69%.