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    603596   CNE1000030Y7

BETHEL AUTOMOTIVE SAFETY SYSTEMS CO., LTD

(603596)
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Bethel Automotive Safety Systems Co., Ltd completed the acquisition of remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc.

07/14/2021 EST

Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) entered into an agreement to acquire remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. for $19.6 million (approximately CNY 130 million) on April 9, 2021. The purchase price will be paid at the time of delivery. Following the transaction, Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd will become a wholly-owned subsidiary of Bethel Automotive Safety Systems Co. In related transaction, Bethel Automotive Safety Systems Co., Ltd entered into an agreement to acquire remaining 51% stake in Weihai Sabo Automotive Safety System Co., Ltd. from Sakthi Automotive Group USA Inc. for $20 million. The transaction will be funded from Bethel Automotive Safety Systems Co., Ltd's own fund. For the year ended December 31, 2020, Weihai Bethel Sakthi Automotive Safety Systems Co. reported total assets of CNY 695.8 million, net assets of CNY 510.5 million, operating revenue of CNY 786.7 million, operating profit of CNY 72.4 million and net profit of CNY 63.1 million. The transaction needs to be submitted to Bethel Automotive Safety Systems' shareholders meeting for deliberation. The transaction has been reviewed and approved at the 22nd meeting of Bethel Automotive Safety Systems Co.'s second Board of Directors and the 17th meeting of the second Board of Supervisors. Bethel Automotive Safety Systems Co., Ltd (SHSE:603596) completed the acquisition of remaining 49% stake in Weihai Bethel Sakthi Automotive Safety Systems Co.,Ltd from Sakthi Automotive Group USA Inc. on July 14, 2021.


ę S&P Capital IQ 2021
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Financials
Sales 2021 3 603 M 565 M 565 M
Net income 2021 543 M 85,1 M 85,1 M
Net Debt 2021 - - -
P/E ratio 2021 52,0x
Yield 2021 0,20%
Capitalization 28 240 M 4 418 M 4 426 M
Capi. / Sales 2021 7,84x
Capi. / Sales 2022 6,27x
Nbr of Employees 2 064
Free-Float 42,1%
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Mean consensus BUY
Number of Analysts 7
Last Close Price 69,12 CNY
Average target price 61,03 CNY
Spread / Average Target -11,7%
EPS Revisions
Managers and Directors
Yong Bin Yuan Chairman & Chief Executive Officer
Zhong Xi Chen CFO, Board Secretary & Deputy General Manager
Bing Jun Gao Chairman-Supervisory Board
Mei Hua Luo Independent Director
Sheng Bao Zhai Independent Director