On January 30, Lukang Biochemical announced that the company intends to invest 6 billion yuan to build 100 photovoltaic film production lines in two phases. On the same day, Lukang Biochemical also announced that the acquisition of 100% equity of Jiangxi Weike, a photovoltaic film enterprise, had made significant progress. Lvkang Biochemical,
a veterinary drug company, has officially opened its way into the photovoltaic film industry.
Start and work hard! In order to continuously promote the overall development strategy, further improve the company's business layout, expand its business scale, and meet the capacity required for the company's future business expansion, Lukang Biochemical announced on the 30th that it will build 100 photovoltaic film production lines
for 6 billion yuan. Lukang (Haining) Film Material Co., Ltd., a wholly-owned subsidiary of the company, intends to invest in the construction of a photovoltaic film project with an annual output of 800 million square meters in Huangwan Town, Haining City, and intends to sign the Investment Framework Agreement for the Photovoltaic Film Project with an Annual Output of 800 million square meters with the People's Government of Huangwan Town.
This is also the first major substantive investment layout in the photovoltaic field since Lukang Biochemical announced the cross-border photovoltaic industry. Screenshot
of the
announcement shows that the total land area of the project is 262 mu, with a total investment of 6 billion yuan, including 1 billion yuan in fixed assets. All of them have reached 100 film production lines, with annual sales of 10 billion yuan and tax revenue of 200 million yuan.
Among them, 40 production lines will be completed in two years in the first phase of the project, with a total investment of 2.4 billion yuan. It is estimated that the annual sales will be 4 billion yuan and the tax revenue will be 80 million yuan. The second phase of
the project has completed the construction of 60 production lines, with a total investment of no less than 3.6 billion yuan, an annual sales increase of 6 billion yuan and a tax revenue of 120 million yuan.
Enterprise investigation shows that Lukang (Haining) Film Material Co., Ltd., a wholly-owned subsidiary, was registered on January 16, 2023 with a registered capital of 100 million yuan. Lukang Biochemical holds 100% of Lukang Haining's equity with its own capital. On the same day that
Shenzhen Stock Exchange questioned the suspension of speculation for three months
and announced the 6 billion layout of photovoltaic film production line, Lukang Biochemical also announced the acquisition of 100% equity of Jiangxi Weike New Material Technology Co., Ltd. The total consideration of this transaction is 95 million yuan. The acquisition, which
took more than half a year, finally ushered in new and significant progress. Wei Yu, a senior researcher at the
Digital Photovoltaic Research Institute, said the announcement meant that Lukang Biochemical's acquisition of 100% equity in Jiangxi Weike had been basically completed and entered the final stage. According to
the data, Lukang Biochemical is an enterprise focusing on the research and development, production and sales of veterinary drugs, and its business scope covers veterinary premixes, veterinary raw materials, food preservatives and other fields.
Jiangxi Weike was founded in March 2020, mainly engaged in research and development, production, sales and installation of thin film composite materials and photovoltaic supporting components.
Lukang Biochemical announced that through this asset acquisition, the company will speed up the layout of photovoltaic film business and improve its operating efficiency. At the same time, the acquired company is the target asset with development prospects, which can enhance the sustainable development ability and create value for shareholders.
Lukang Biochemical intends to enter the photovoltaic film industry through the acquisition of Jiangxi Weike, which has encountered twists and turns on the road of "chasing light". On the evening of July 31,
2022, Lukang Biochemical announced that it planned to acquire 100% equity of Jiangxi Weike in cash and enter the photovoltaic film industry through asset acquisition, with a premium rate of about 632%.
However, on August 3, Lukang Biochemical Bulletin received a letter of concern from Shenzhen Stock Exchange, asking it to combine the company's existing technology, talent reserve and market resources in the photovoltaic field to explain whether the company has sufficient capital investment and business integration capabilities
. The transfer of shares involves the change of part of the share restriction commitments made by the directors and senior managers of the company at the time of their IPO, requiring the company to verify whether there is any violation of the commitments or other restrictions on rights.
Jiangxi Weike lost 6.6374 million yuan in 2021 and 6.8863 million yuan in January-April 2022, with an asset-liability ratio of 92%, an estimated value of 100 million yuan and a premium rate of about 632%.
By the end of the first quarter of 2022, Lukang Biochemical's monetary capital was only 58 million 284 thousand and 400 yuan. Explain the reasons and necessity of the company's high premium acquisition in the case of the performance loss of the underlying assets and the high asset-liability ratio, and whether there is a situation of catering to the hot speculation of stock prices; Check whether there are insider information leakage, insider trading and other situations. On the evening of August
7, Lukang Biochemical announced that it intends to suspend the transaction with all parties involved in the transaction, and that the transaction may be restarted, adjusted or terminated according to the actual situation such as full demonstration and the results of consultation among all parties.
On October 31, Lukang Biochemical Announcement formally responded to the Shenzhen Stock Exchange's letter of concern, and on November 4, it announced that after further coordination and communication with all parties, it decided to restart the transaction. On January 30,
2023, the latest significant progress in the acquisition of 100% equity of Jiangxi Weike New Material Technology Co., Ltd. was announced.
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