Electric Eel Express, Sun Yaoqi/Wen
As a modern food enterprise specializing in the production of Jinhua ham, low-salt ham, bacon and other related meat products, the actual controller of Jinzi Ham (002515.SZ) is about to change. Ren Qifeng, who has a number of enterprises under it, intends to become the new actual controller of Jinzi Ham by acquiring the shares of the company held by Bama Partnership, and intends to increase the shareholding ratio by fully subscribing to the shares of Jinzi Ham.
"Electric Eel Express" noted that the funds raised by Jinzi Ham will be used for the construction project of the digital intelligent industrial base with an annual output of 50,000 tons of meat products, the digital intelligent three-dimensional cold storage project of Jinzi Frozen Food City Co., Ltd., and the repayment of bank loans.
The new boss is going to move in
On August 28, Jinzi Ham issued the "Indicative Announcement on the Proposed Change of Controlling Shareholder and Actual Controller", and Anji Bama Enterprise Management Partnership (Limited Partnership) (hereinafter referred to as Bama Partnership) intends to transfer all 199 million shares of the company (corresponding to 20.30% of the corresponding shares) held by it to Ren Qifeng. After the completion of the transaction, Ren Qifeng will become the controlling shareholder and actual controller of the company.
At the same time, Jinzi Ham signed a share subscription agreement with Ren Qifeng with effective conditions, and Ren Qifeng intends to subscribe for the company's non-public shares in full, and the number is expected to not exceed 294 million shares. After the completion of the above matters, Ren Qifeng will hold 38.69% of the company's shares.
Bama Partnership intends to transfer its 199 million shares of Jinzi Ham to Ren Qifeng at a price of RMB5.00 per share and a transfer price of RMB993 million.
According to the announcement, Jinzi Ham is proposed to increase by no more than 293 million yuan, the issue price is 4.06 yuan / share, and Ren Qifeng intends to subscribe in full in cash, and the subscription amount does not exceed 1.19 billion yuan.
"Electric Eel Express" noted that Ren Qifeng intends to become the new actual controller of Jinzi Ham, and the above amount paid is about 2.183 billion yuan.
It is worth noting that in order to maintain the stability of Jinzi Ham's operation, for the existing business scope of Jinzi Ham (including new projects and new investments under the existing operating business), there is a performance commitment period, that is, from 2021 to 2023, the audited net profit of Jinzi Ham in three years is not less than 100 million yuan, 130 million yuan and 170 million yuan, respectively.
During the performance commitment period, if the actual net profit of Jinzi Ham in the current year is less than 80% of the promised net profit, Bama Partnership and Shi Yanjun shall compensate Ren Qifeng in cash within thirty (30) days after the announcement of the Audit Report of the listed company in that year.
According to the data, Ren Qifeng is a native of Hong Kong, China. Since June 23, 2016, Ren Qifeng has served as the executive director and general manager of Ningbo Huifeng Jiafu Technology Co., Ltd., whose main business is intelligent robot manufacturing and household appliance manufacturing.
At present, the core enterprises controlled by Ren Qifeng include Ningbo Yinzhou District Xinfeng Plastic Machinery Manufacturing Co., Ltd., Ningbo Huifeng Investment Holding Co., Ltd., Ningbo Yinzhou Xinfeng Machine Tool Parts Co., Ltd., Ningbo Yinzhou Linfeng Automobile Service Co., Ltd., Ningbo Jiafu Plastic Electrical Appliance Co., Ltd. and other 12 companies, and their business involves park management services, literary creation services, solar energy equipment, wind energy equipment and its accessories.
In addition, Ren Qifeng and his spouse Ren Songliu have a significant influence, and his father Ren Guoliang, his father-in-law Ren Guilong, and his mother-in-law Ren Pengfei control or have a significant impact of related enterprises, including Ningbo Huifeng Jiafu Intelligent Electrical Appliance Co., Ltd., Ningbo Huifeng Jiafu Technology Co., Ltd., Ningbo Huifeng Juwei Technology Co., Ltd. and other 8 companies, the business scope involves intelligent robot sales, household appliance manufacturing, research and processing sales of automotive scroll compressors, etc.
Raise funds to strengthen the main business
According to Jinzi Ham's "2021 Non-public Issuance of A-share Shares", of the 1.192 billion yuan that the company intends to raise this time, 1 billion yuan will be used for the construction project of the digital intelligent industrial base with an annual output of 50,000 tons of meat products, and the rest of the funds will be used for the digital intelligent three-dimensional cold storage project of Jinzi Frozen Food City Co., Ltd. and the repayment of bank loans.
Jinzi ham 50,000 tons of meat products digital intelligent industry base construction project, the construction site is located in Jinhua City Development Zone Xianhua South Street No. 1377, the project construction period is expected to be 30 months.
Jinzi Ham is the first batch of C2M super factory project enterprises in Zhejiang Province, and the construction of the above projects of the company is in line with the latest spirit of the central government such as "from virtual to real" and "development of digital economy", and also in line with the industrial policies encouraged by the state.
The development of traditional meat products urgently needs the leadership of brand-scale enterprises. If the world average of 45% of meat products in meat consumption is calculated, the market size of meat products in China is about 1.35 trillion yuan. At present, the market size of meat products in China is about 500 billion yuan, of which the market share of traditional meat products is about 55%, with rapid growth and huge development space.
Jinhua ham is one of the few world-class national brands in China, the implementation of this project, will build a digital, intelligent traditional ham and instant fermentation ham production line, and make full use of relevant scientific and technological achievements, reduce the salt content of products, enhance the degree of industrial standardization, improve the frequency of product consumption, expand the market scale of the industry.
Jinhua Ham said that after the company's non-public offering funds are in place, the company's net assets and working capital will increase, ensuring that net assets and working capital will increase, which will effectively alleviate the pressure on the company's capital demand in business activities, ensure the stable development of the company's fundraising projects, and further improve the company's comprehensive competitiveness.
Jinzi Frozen Food City Co., Ltd. digital intelligent three-dimensional cold storage project, the construction period is expected to be 15 months, the project is Jinzi Frozen Food City Co., Ltd. in the original cold storage on the basis of the expansion of new construction projects, serving the Jinzi Ham Co., Ltd. ham and meat products processing required frozen pork raw materials storage and domestic and foreign frozen pork trade reserves, while serving the surrounding areas frozen meat, aquatic products demand.
From the perspective of the scale of cold storage construction, after the national level put forward the requirements for implementing the shortcomings of urban and rural cold chain logistics infrastructure in 2015, the construction of cold chain infrastructure in China has been accelerated. According to data from the Ministry of Commerce, the total amount of cold storage in the country in 2019 increased by 15.6% year-on-year to about 60.53 million tons.
Data show that in 2019, the market size of China's cold chain logistics industry was about 339.1 billion yuan, an increase of 17.5% year-on-year. According to the prediction of the professional research institute, by 2021, the market size of China's cold chain logistics industry will exceed 411.7 billion yuan.
Jinhua Ham said that the digital intelligent three-dimensional cold storage project of Jinzi Frozen Food City Co., Ltd. has obvious positive effects on the regional economy and the development of downstream industries, with obvious social benefits, reasonable economy and financial feasibility of the project.
This article is from Electric Eel Express