On november 25, beijing business news (reporter chan yok wang jingli) was launched in beijing on the first day of the monthEast sunshine sectionAnnounced the most recent acquisition reorganization report, company acquisition of port unitsEast sunshineSignificant progress has been made on the issue of shares. According to the report, the listed company intends to purchase its share of 226. 2 million shares (50. 04 per cent of its total equity) of east sunshine medicine at a total cost of rmb 3,221 million from the yichang sun medicines industry. When the deal is completed, the east sunshine medicine will become a holding subsidiary of the listed company and the east sunshine industry will extend to the pharmaceutical industry。
The original main operation of the east sunshine section is based on advanced aluminium processing, chemical product production, electronic materials and metaware manufacturing. This purchase of east sunshine is a pharmaceutical enterprise with anti-virus drugs at its core, covering drug development, production and marketing in the field of anti-virus, endocrine and cardiovascular treatment. Prior to that, net profits from east sunshine had declined significantly as a result of weak domestic and foreign markets, overcapacity in domestic aluminium manufacturing and excessive competition. Despite the phasing-out of the industry restructuring cycle in 2016, the east sunshine section indicated that, given the limited scope for long-term development of the industry in which the main business operates, enterprises wanted to tap profit growth points from emerging industries。
However, the reasonableness of performance commitments made by companies from east sunshine was questioned. The companies for which the east sunshine industry is committed, in 2017, 2018 and 2019, committed net profits of no less than $480 million, $575 million and $652 million, respectively. In 2014, 2015 and 2016, the net profits were $135 million, $266 million and $296 million respectively. In response, the east sunshine section indicated that the east sunshine drug increased by 19. 19 per cent compared to the same period in 2016, and the net profits attributed to shareholders in the parent company increased by 40. 41 per cent. The continued rapid increase in income profits was largely due to the increased sales of core products on the national market. In addition, the net profits promised for the east sunshine medicine in 2017, 2018 and 2019 were $480 million, $575 million and $652 million, respectively, with growth rates of 26. 11 per cent, 19. 79 per cent and 13. 39 per cent, respectively, which were lower than the real net profits during the reporting period。
