News: onJune 20, Xinjufeng (301296.SZ), a leading aseptic packaging company, disclosed the revised version of the major asset purchase report (draft). The Economic Herald reporter noticed that the revised draft additionally disclosed that "this acquisition is not a financial investment, nor is it a securities investment".
According to the previously released "Major Asset Purchase Plan", Xinjufeng intends to acquire the Hong Kong-listed company Greatview Packaging (00468.HK) held by JSH Venture Holdings Limited (hereinafter referred to as "JSH") in cash through an agreement transfer. 3.77 100 million shares, accounting for about 28.22% of the total shares of Greatview Packaging. The transaction consideration for this matter is 2.65 Hong Kong dollars per share, and the total transaction price is 999 million Hong Kong dollars, or about 864 million yuan. After the transaction is completed, Xinjufeng will replace JSH as the largest shareholder of Greatview Packaging.
As of the end of the first quarter of this year, the net cash flow generated by Xinjufeng's operating activities was -188 million yuan, a year-on-year decrease of 171 million yuan. The company's operating cash flow is tight, will it bring pressure to this acquisition? On the morning of June 20, a reporter from the Economic Herald called the company's Secretary of the Board of Directors. The staff said that they would transfer the relevant issues to the relevant person in charge of the company. . But as of the time of writing, the other party has not responded.
Can improve the quality of the company's assets
Xinjufeng is committed to providing comprehensive packaging solutions for the liquid food industry, involving aseptic packaging materials, filling machines, accessories, technical services, digital marketing and product traceability solutions. The company is located in the Development Zone of Xiaoxie Town, Xintai City. It was established in 2007 and listed on the Growth Enterprise Market of Shenzhen Stock Exchange on September 2, 2022.
As the target company, Greatview Packaging has more specifications and types of packaging products than New Jufeng. At the same time, Greatview Packaging is engaged in the sales of filling machines and their accessories, and New Jufeng has not yet been involved in this business field. "From the perspective of long-term business development, through this investment, the two parties will carry out cooperation and exchanges, which will have a certain positive effect on promoting the company's improvement of product categories and market layout." Xin Jufeng said.
