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    300620   CNE100002PK8

ADVANCED FIBER RESOURCES (ZHUHAI), LTD.

(300620)
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Advanced Fiber Resources, Ltd. agreed to acquire remaining 48.9% stake Zhuhai Guangchen Technology Co., Ltd. from Qiu Erhu for CNY 13.7 million.

12/04/2020 EDT

Advanced Fiber Resources (Zhuhai), Ltd. (SZSE:300620) agreed to acquire remaining 48.9% stake Zhuhai Guangchen Technology Co., Ltd. from Qiu Erhu for CNY 13.7 million on December 3, 2020. Under the terms of the transaction, 50% of the consideration will be paid within 5 days of the transfer of equity and remaining 50% will be paid 30 days from the date when an accounting firm engaged by Advanced Fiber with securities and futures related business qualifications (hereinafter referred to as the "audit agency") issued a "special audit report" on the actual profit of Zhuhai Guangchen during the first year of the profit commitment period Within three working days, Advanced Fiber shall pay up to 60% of the transaction consideration; within 30 working days from the date when the audit agency issued the "Special Audit Report" on the actual profitability of the Zhuhai Guangchen`s profit forecast period for the next year, Advanced Fiber shall pay until the transaction 80% of the consideration; Advanced Fiber shall pay up to 100% of the transaction consideration within 30 working days from the date when the audit agency issued the "Special Audit Report" on the actual profit of the last year of the target company's profit forecast period. Purchase consideration will be paid using own funds. For the period ending September 30, 2020, Zhuhai Guangchen reported Revenue of CNY 8.049705 million, EBIT of CNY 2.052692 million, Net profit of CNY 2.052692 million, Total assets of CNY 14.88331 million and Net assets of CNY 13.386745 million. For the period ending December 31, 2021, Zhuhai Guangchen reported Revenue of CNY 12.16297734 million, EBIT of CNY 3.75912333 million, Net profit of CNY 3.59915958 million, Total assets of CNY 13.46496781 million and Net assets of CNY 12.00739486 million.


© S&P Capital IQ 2020
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Financials
Sales 2021 683 M 107 M 107 M
Net income 2021 135 M 21,1 M 21,1 M
Net Debt 2021 - - -
P/E ratio 2021 49,8x
Yield 2021 -
Capitalization 6 697 M 1 047 M 1 048 M
Capi. / Sales 2021 9,80x
Capi. / Sales 2022 7,36x
Nbr of Employees 1 281
Free-Float 32,0%
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 1
Last Close Price 61,71 CNY
Average target price 74,40 CNY
Spread / Average Target 20,6%
EPS Revisions
Managers and Directors
Xing Long Wang Co-Chairman & General Manager
Yun Li Yao Chief Financial Officer
Jin Guo Co-Chairman
Yan Hong Fan Chairman-Supervisory Board
Gui Jun Ji Chief Technology Officer & Executive Deputy GM
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