Information shows that Guangdong Saifei's main business is the research and development, manufacturing and sales of sapphire and other intraocular lens materials, LED packaging, lighting and other optoelectronic products. As of July 31, 2014, Guangdong Sai Fei's total assets were 2.05 billion yuan, and its net assets were 370 million yuan. In the first seven months of 2014, its revenue was 62.79 million yuan, with a loss of 28.99 million yuan.
In addition, the reporter noticed that Fuyuan Industrial also made a performance commitment guarantee: Guangdong Saifei's net profit from 2014 to 2016 will be no less than 50 million yuan, 250 million yuan, and 550 million yuan respectively (the total net profit in the three years will be no less than 850 million yuan). If the cumulative net profit realized by Guangdong Saifei in three years is less than 850 million yuan, Fuyuan Industrial promises to compensate Xinya Processing in cash based on the equity ratio held by Xinya Processing. The difference between the promised profit and the actual profit multiplied by the equity ratio held by New Asia Processing.
In addition, Xinya Processing also mentioned that the source of funds for this acquisition is its own funds, which will put certain financial and cash flow pressure on the company.
At the same time, the company also stated that on the 9th, the board of directors passed the proposal on borrowing from the controlling shareholder and related transactions, and agreed to a short-term loan of 180 million yuan from the company’s controlling shareholder Shenzhen Xinlida, mainly to supplement working capital. Since Xinlida is the controlling shareholder of Xinya Processing, this transaction constitutes a related transaction.
ANNA