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After selling the Baicaowei brand in 2020 and reaping a considerable transaction premium, I miss you (002582) brewing a large amount of foreign investment again, this time a snack channel company - snacks are very busy.After selling the Baicaowei brand in 2020 and reaping a considerable transaction premium, I miss you (002582) brewing a large amount of foreign investment again, this time a snack channel company - snacks are very busy.
On the morning of December 19th, I would like you to further supplement the announcement on this foreign investment, and explain the declaration of the concentration of operators of the snack is very busy acquiring Yichun Zhao Yiming Food Technology *** hereinafter referred to as "Zhao Yiming Snacks").
For this foreign investment, Dou Yanyan, deputy general manager and secretary of the board of directors, told the reporter of **Times E Company that the company has paid attention to the rapid development of interest in e-commerce and mass sales of snacks in recent years, and strives to lay out mass sales snack channels. This foreign investment will continue to further develop the existing snack food business by relying on the country's leading channel advantages and business synergy.
In order to standardize the anti-monopoly review of concentration of undertakings, in accordance with the Anti-Monopoly Law of the People's Republic of China and the Provisions on the Notification Standards for Concentration of Undertakings, on March 10, 2023, the State Administration for Market Regulation promulgated the relevant provisions on the review of concentration of undertakings, which will come into force on April 15, 2023.
On the morning of December 19, I would like you to issue a supplementary announcement on foreign investment, saying that this investment does not constitute a concentration of undertakings and there is no need to perform the procedures for the declaration of concentration of undertakings.
This time, I miss you, Yanjin Shop Holdings, Snacks are very busy, and Zhao Yiming Snacks jointly signed a strategic cooperation investment agreement in Changsha, Hunan, and I miss you and Yanjin Shop Holdings invested 700 million yuan and 3 million yuan respectively in Snacks Busy Group500 million yuan, snacks are very busy group received a total of 10500 million yuan in financing, I really want you and your wholly-owned subsidiaries to hold snacks together is very busy 664% equity.
In the announcement on the 19th, I think you said that after the completion of this investment, the company and its wholly-owned subsidiaries are very busy with snacks and have no control in the sense of the Anti-Monopoly Law of the People's Republic of China. This investment does not constitute a merger of undertakings, nor does it constitute a concentration of undertakings as stipulated in the relevant documents of the concentration of undertakings, nor does it need to perform the declaration procedures for the concentration of undertakings.
Previously, on November 10, Snacks was very busy and announced a strategic merger with Zhao Yiming Snacks. After the merger, the two companies will remain the same in terms of personnel structure, and will retain their respective brands and businesses to operate independently.
Snacks are very busy, and Zhao Yiming snacks are the two major brands of domestic mass sales snacks. With the arrival of the merger, the total number of two stores exceeds 6,500.
I think you added that the announcement also explained the relevant provisions on the review of the concentration of undertakings involved in the merger of Snacks and Zhao Yiming Snacks. According to the disclosure, if the acquisition of Zhao Yiming snacks is revoked or invalid due to the failure of the concentration declaration of undertakings or other factors, and a major equity stripping occurs, according to the pre-investment valuation, the market fair value of the equity to be divested is not included, and the ** of your investment will also be adjusted accordingly.
I would like you to say that the above-mentioned clause is conducive to fully protecting the interests of the company and avoiding the significant adverse impact of the concentration declaration of the acquisition of Zhao Yiming snacks by Snacks on this investment. In addition, Snack is very busy and has hired a professional team of lawyers to carry out the relevant work of the concentration declaration in accordance with the relevant regulations. At present, the documents and materials related to the declaration of concentration of undertakings are being actively prepared, and active communication has been carried out with the anti-monopoly law enforcement authorities, and it is expected that the materials will be formally submitted to the anti-monopoly law enforcement authorities in the near future.
In 2016, I miss you 9The acquisition of 100% of the shares of Hangzhou Holmes Food, the parent company of Baicaowei, for 600 million yuan was once regarded as "the first case of domestic snack e-commerce mergers and acquisitions", which attracted much attention from the capital market.
At that time, the development momentum of e-commerce was strong, and I really wanted you to join hands with Baicaowei, so that the former successfully expanded its product range from jujube to various categories of snack food, and its business performance continued to grow.
In 2020, in the face of fierce competition in the Internet snack food industry, I really want you to make a price of 70.5 billion US dollars liquidated the entire shareholding of Holmes, and the three-year merger and acquisition of Baicaowei brought considerable income to the company: the investment income reflected in the consolidated financial statements was 35900 million yuan, contributing 26 million to net profit6.2 billion yuan. Through this transaction, I think you can get 4 billion yuan in cash after paying the relevant taxes and fees, and the asset-liability ratio will increase from 4708% down to 728%。
After stripping off the flavor of baicao, I really think that your business performance has been declining in recent years. In 2022 and the first three quarters of 2023, the company's net profit will lose 1900 million yuan, 40.84 million yuan.
This time, I really want you to invest again, which is undoubtedly a move to seek performance growth.
The company has been very busy with snacks and Zhao Yiming snacks have business cooperation. This strategic cooperation means that all parties will further deepen the scope of cooperation, which is conducive to expanding brand influence, enhancing product innovation, and improving the efficiency of the first chain. Dou Yanyan told reporters that I would like you to pay attention to the rapid development of interest in e-commerce and mass sales of snacks in recent years, and strive to lay out mass sales snack channels. This investment will have a positive impact on the company's short, medium and long-term development. This year, the company has launched a comprehensive strategic upgrade, the implementation of the hyperbolic development strategy, the first curve is based on the gift business, through monopoly, e-commerce to enhance the scale of business, continue to promote the high quality of you, the best value of the product;The second curve focuses on the large-scale single product business, focusing on creating a strategic large-scale single product red and small pie, conforming to consumer needs, creating new categories, and boosting the company's performance through channels such as interest e-commerce, supermarkets, and snacks.
She believes that at present, the domestic consumption channel is accelerating the change, and snack wholesale has become the new favorite of the channel. In the past two years, the growth of traditional domestic supermarket channels has been sluggish, and the snack wholesalers represented by Snack is very busy, Snack Youming, Zhao Yiming Snacks, etc., have quickly cut the flow and become the new favorite of the channel by virtue of the characteristics of rich categories and high cost performance, and the industry still has huge development potential.
Since 2020, the expansion of snack stores has accelerated, and more than 500 food brands have reached more than 10. The snack industry is very busy, and the Wanchen series has reached more than 4,000 stores. According to the first display, the number of mass snack channel stores nationwide is expected to exceed 50,000 by 2025, and is expected to exceed 70,000 in 2027, with a five-year compound annual growth rate of 38%.
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