1. Qunxing Toys is one of the largest manufacturers of electric toys in China. Qunxing Toys' main business is the R & D, design, production and sales of electronic electric toys. The products mainly include five series: strollers, computer learning machines, electric cars, baby toys and toy mobile phones. In 2014, the sales revenue was 404 million yuan, the net profit was 14.8659 million yuan, and the company's business was about 60% export and 40% domestic. KuaiBao achieved a net profit of 18.2344 million yuan in 2015, an increase of 23% over the same period last year.
2. The company's future development strategy: small-step fast-running extension expansion. Qunxing toys belongs to the traditional industry. In the future, Qunxing toys will make full use of the platform of listed companies to carry out epitaxial acquisitions. The acquisition planning is relatively stable, and there are certain requirements for the revenue and sustainable profitability of the acquisition companies. Fully protect the interests of minority shareholders.
3. After this asset restructuring, it will hold a 100% stake in Sanzhou Nuclear Power and enter the nuclear power and military industry. The listed company intends to issue shares from Sanzhou Special Management, China Nuclear Power Institute and Huaxia Life Insurance to purchase its combined 100% stake in Sangzhou Nuclear Power. At the same time, it raised 813.96 million yuan from eight QFII investors, including Sanzhou Special Administration, Zhongguang Nuclear Capital, National Nuclear Fuying, Tibet Guanghe, Zhonghe National Energy, Yongtuwatong, Beijia Kailong, Xinhe Jingcheng, and so on. The total amount of funds raised does not exceed 100% of the transaction price of this purchase of assets.
4. With the acceleration of the construction of domestic nuclear power units and the promotion of the "Belt and Road Initiative" strategy, China's nuclear power market has ushered in an opportunity for rapid development. In June 2014, the State Council issued the Energy Development Strategic Action Plan (2014-2020), which made it clear that "under the premise of adopting the highest international safety standards and ensuring safety, the construction of new key nuclear power projects in the eastern coastal areas should be launched in a timely manner." study and demonstrate the construction of inland nuclear power, at the same time, China's nuclear power technology will go abroad in the future.
5. Sanzhou Nuclear Power is the main supplier of domestic nuclear power military pipeline. at the same time, Sanzhou Nuclear Power has Hualong I, the third generation nuclear power technology. Sanzhou Nuclear Energy adopts the production mode of "order production and project customization" which is popular in the industry. It has a number of national invention patent technologies, and has undertaken nearly 60% of the main pipeline orders for domestic second-generation and second-and-a-half nuclear reactors, and has successfully delivered 15 sets of nuclear island main pipelines (including prefabricated). 5. acquisition at a high premium. Taking October 31, 2015 as the evaluation base date, the estimated value of the underlying assets is 1.6 billion yuan, an increase of 1.284486 billion yuan over the book value of 315.514 million yuan of unaudited net assets of Sanzhou Nuclear Power as of October 31, 2015, with an increment rate of 407.11%.
6. Performance promises high growth. According to the profit commitment and compensation Agreement signed by Sanzhou Special Management, Huaxia Life Insurance and listed companies, Sanzhou Special Management and Huaxia Life promised that the net profits attributed to the owners of the parent company in the three years 2016-2018 were not less than 121 million yuan, 19300.00 million yuan and 282 million yuan, respectively, and the total three-year profit was not less than 59600.00 million yuan, and not lower than the profit forecast determined in the evaluation report.
7. No rating for the time being. The assets acquired by the company are of high quality and high growth, but due to the uncertainty in the acquisition process, we will pay close attention to the acquisition process.