Why did China Resources Sanjiu suspend trading?

(000999) China Resources Sanjiu: Suspension of major events

China Resources Sanjiu received a notice from the controlling shareholder, China Resources Pharmaceutical Holdings Co., Ltd.,

China Resources Pharmaceutical Holdings and its shareholder China Resources

Pharmaceutical Group Co., Ltd. is planning major issues involving the company, because there are still uncertainties in related matters, in order to maintain

In order to protect the interests of investors and avoid a significant impact on the company's share price, the company's shares (stock abbreviation: China)

Run Sanjiu, stock code: 000999), corporate bonds (stock abbreviation:13Sanjiu 0 1, stock code:12175)

) 20 14 Suspension of trading began on April 8.

China Resources Sanjiu (000999): The curtain of asset integration of China Resources Medicine opens Sanjiu or closes two cranes.

■ shanghai securities news

The suspension of China Resources Sanjiu and China Resources Shuanghe, although large in size, are relatively "clean" and conform to the simple,

The logic of "starting with" controllable assets. As for choosing China Resources Sanjiu as a platform,

The reason is also very simple, from business development.

In space,

The future of China Resources Shuanghe is not as big as China Resources 39; In terms of market value, China Resources Sanjiu and China Resources

Before the suspension, Shuanghe was RMB 210.70 billion and/kloc-0 1.654.38+0.654.38+0+0 billion respectively, and the turnover of China Resources Sanjiu was significantly larger.

Starting this week,

China Resources Sanjiu and China Resources Shuanghe both suspended trading because the controlling shareholder's planning involved major issues of the company.

This indicates that there will be significant progress in the integration of pharmaceutical assets of China Resources Department. The market expects that Zizhu Pharmaceutical and Secco Pharmaceutical are expected this time.

Respectively injected into China Resources Sanjiu,

China Resources Shuanghe. According to the investigation of the reporter of Shanghai Stock Exchange, the pharmaceutical integration strategy of China Resources Department has been gradually launched.

It is becoming increasingly clear that China Resources Sanjiu may be used as a platform for medical assets in the future, so China Resources Shuanghe may be merged into China Resources Sanjiu.

China Resources Shuanghe or merged into China Resources Sanjiu

According to an industry insider's analysis, the two listed companies, China Resources Sanjiu and China Resources Shuanghe, which were suspended this time, are single.

Large, but they are all "clean", so it conforms to the logic of "starting with simple and controllable assets". As for choosing China,

Taking Sanjiu as a platform,

The reason is also very simple. After all, China Resources Sanjiu has more room for business development, while China Resources Shuanghe's industry

The business is mainly concentrated in market segments such as large infusion, and the future expansion space is not as big as that of China Resources 39. At the same time, in terms of market value,

Before the suspension, China Resources Sanjiu was nearly RMB 201700 million, and the market value of China Resources Shuanghe was RMB110/000 billion. The scale of China Resources Sanjiu was clear.

Significantly bigger. It is very likely that China Resources Shuanghe will merge into China Resources Sanjiu.

However, some investment bankers told the Shanghai Securities Journal that such asset restructuring may take quite a long time to operate.

Time,

And there are still some uncertainties, including whether it can pass the vote of the workers' congress. At present, it is "going"

Step by step. "

The sales scale of China Resources Department medicine plate is second only to Sinopharm Group, and it is the second largest industrial plate of China Resources Group.

At present, we are trying to straighten out the three platforms and optimize asset allocation: since the end of 20 1 1, China Resources has established China Resources North Medicine and China Resources Medical respectively.

After the pharmaceutical group, the positioning of several listed companies of China Resources Pharmaceutical Co., Ltd. has gradually become clear: China Resources Sanjiu pays attention to proprietary Chinese medicines and OTC China Resources Double.

Xianhe is mainly engaged in injections, as well as prescription drugs and raw materials; Dong 'e Ejiao specializes in Ejiao series health care products. In addition, it specializes in medical treatment.

The equipment plan of China Resources Wandong was taken over by the major shareholder of private enterprise Yuyue Medical.

It is worth noting that,

In recent years, China Resources has been committed to improving the competitiveness of China Resources Sanjiu through mergers and acquisitions.

Li. 2065438+February 2002,

China Resources Sanjiu acquired 0/00% equity of SF Pharmaceutical/KLOC-which is an edible fungus for a total price of 600 million.

The core brand of dermatology. 20 13 1 month,

The acquisition of Guilin Tianhe Pharmaceutical is to expand orthopedics.

Strategic needs of medicine. Orthopedic products are one of the eight OTC businesses of China Resources Sanjiu.

And the core varieties of Tianhe Pharmaceutical.

Tianhe Gutong Ointment 20 1 1 has an annual sales of 654.38+92 million yuan.

For the next goal of China Resources Sanjiu, the market has focused on Zizhu Pharmaceutical, which has a heavy family planning product.

Zizhu Pharmaceutical Co., Ltd. has several other gynecological drugs, which are one of "Yuting". Once Zizhu is added, China Resources III

Nine product lines will be more comprehensive. "It also increased the chips in domestic chain pharmacies in the future."

Li Lichen told the Shanghai Securities Journal reporter.

Prepare for the listing of China Resources Pharmaceutical assets in Hong Kong.

In fact,

It is the pharmaceutical assets of China Resources that are planning to go to Hong Kong to become bigger and stronger through mergers and acquisitions.

A prelude to listing. Song Lin, Chairman of China Resources Group, announced at the Asian Financial Forum two years ago that he planned to go public one by one.

Go public in Hong Kong within two years.

At present, among the three giants of Sinopharm, Shanghai Pharmaceutical and China Resources, only China Resources is not listed on the H-share market. now

Two years later, China Resources Pharmaceutical assets have not been listed in Hong Kong. In February of this year, Song Lin once again said that China Resources

While carrying out large-scale mergers and acquisitions, it also emphasizes that assets have advanced and retreated under the guidance of strategy, and divestiture is as important as mergers and acquisitions.

Principle, constantly optimize the business structure, improve asset quality, maintain profitability, and protect shareholders' rights and interests to the maximum extent.

.

In this context, China Resources A-share listed companies frequently make moves, integrate assets, straighten out relationships, enhance competitiveness and do things.

High valuation can be understood as that Hong Kong's listing is still in the preparatory stage.

however

How the effect of China Resources M&A integration appears remains to be tested by the market. In Shi Lichen's view, "enclosure"

Farming is easy, but difficult. "China Resources has been staking for many years in the pharmaceutical industry, and there are countless mergers and acquisitions, but the synergy effect is not obvious."

Although the sales scale is the second in China, in terms of operating profit, China Resources can't even compare with Guangyao and Yunnan Baiyao.

Li Chen said.

As far as China Resources Sanjiu is concerned,

For this platform based on Chinese medicine, if China Resources Shuanghe is accepted, the future will be

Whether the integration can be achieved smoothly,

There is still suspense. After all, the production and sales of R&D are between chemical injection and Chinese patent medicine.

There is a big gap in sales and other links, and how to achieve coordinated development is also a new problem.