Wolong Real Estate receives an inquiry letter and needs to explain whether the proposed acquisition target has independent operation and core competitiveness_Oriental Fortune Net

On the evening of January 12,Wolong Real Estate(600173) received an inquiry letter from the Shanghai Stock Exchange.Wolong Real EstateIt should be stated whether the target to be purchased has independent operation and core competitiveness.

It is understood that on January 12, 2022,Wolong Real EstateannouncementSaid that it intends to purchase the related party Wolong Electric Drive Group Co., Ltd. (hereinafter referred to as “”Wolong electric drive”), a wholly-owned subsidiary of Shanghai Wolong Mining Co., Ltd. (hereinafter referred to as “Wolong Mining”) 100% equity. The total price of this transaction is 68 million yuan, and the value-added rate is nearly 60%.

The announcement shows that the target company of this acquisition is mainly engaged in the trading business of minerals and metals, which is closely related to the company’s current main business.real estate developmentless related to sales.Target company 2020net profitThe ratio is only 0.85%, which is far lower than the 21.23% of the listed company; the asset-liability ratio of the target company is 67.69%, which is higher than 59.85% of the listed company.

In this regard, the Shanghai Stock Exchange requires Wolong Real Estate to supplement the disclosure of the specific business model of the target company, the basic information of main trading products, major customers, suppliers, cooperation time, transaction amount, pricing basis, and transactions and capital transactions with related parties. Whether the company has independent operation and core competitiveness; compare the profitability and debt level of Wolong Mining and the listed company, and explain the necessity and rationality of the acquisition based on the company’s business and development;trade industryThe development status and trends, market competition, etc., fully remind the company of various risks that may be faced by the company’s cross-border investment.

(Article source: Beijing Business Daily)

Article source: Beijing Business Daily

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Original title: Wolong Real Estate receives an inquiry letter and needs to state whether the proposed purchase target has independent operation and core competitiveness