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    600372   CNE0000018C0

CHINA AVIONICS SYSTEMS CO.,LTD.

(600372)
  Report
End-of-day quote Shanghai Stock Exchange  -  2023-02-05
17.84 CNY   +0.22%
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China Avionics Systems Co.,Ltd. (SHSE:600372) agreed to acquire AVIC Electromechanical Systems Co.,Ltd (SZSE:002013) for CNY 48.5 billion.

09/29/2022 EST

China Avionics Systems Co.,Ltd. (SHSE:600372) agreed to acquire AVIC Electromechanical Systems Co.,Ltd (SZSE:002013) for CNY 48.5 billion on June 10, 2022. Under the terms, China Avionics Systems will exchange the shares to AVIC Electromechanical Systems for 1:0.6647, that 1 share of AVIC Electromechanical can be exchanged with 0.6647 shares of China Avionics. China Avionics Systems will raise the funds from 35 investors including AviChina Industry & Technology Company Limited, AVIC Aviation Industry Investment Co., Ltd., AVIC Shenyang Aircraft Company Limited, Chengdu Aircraft Industrial (Group) Co. Ltd. not more than CNY 5 billion. As on June 10, 2022, China Avionics board of directors and AVIC Electromechanical of directors have approved the transaction. The transaction has been approved by the National Defense Science, Technology and Industry Administration and State-owned Assets Supervision and Administration Commission of the State Council. Transaction is subject to approval of China Avionics and AVIC Electromechanical shareholders approval. As of October 17, 2022, the transaction is approved by shareholders of China Avionics Systems Co.,Ltd. As on October 26, 2022, transaction has been approved by AVIC Electro mechanical's shareholders. As on December 9, 2022, AVIC Electromechanical System outstanding shares have been adjusted to 3, 862.25 million due to the cancellation of treasury shares. On December 21, 2022, the China Securities Regulatory Commission ("CSRC")´s Listed Company M&A and Reorganization Review Committee ("M&A and Reorganization Committee") held the 25th M&A and Reorganization Committee Working Conference in 2022, and the company's share exchange The absorption and merger of AVIC Electromechanical and the raising of supporting funds and related transactions have been reviewed. According to the review results of the meeting, the company's transaction was unconditionally approved.

China Security Co., AVIC Securities Co.,Ltd. acted as a financial advisor to China Avionics Systems Co.,Ltd. Moore Stephens Da Hua and ShineWing Certified Public Accountants Co., Ltd. acted as an accountant to China Avionics Systems Co.,Ltd. Jingtian & Gongcheng acted as a legal advisor, GF Securities Co., Ltd. acted as a financial advisor, Jiayuan Law acted as a legal advisor, Wuyige Certified Public Accountants LLP and Mazars Certified Public Accountants LLP acted as an accountant to VIC Electromechanical.


ę S&P Capital IQ 2022
Stocks mentioned in the article
ChangeLast1st jan.
AVIC ELECTROMECHANICAL SYSTEMS CO.,LTD -0.74% 10.77 End-of-day quote.7.16%
CHINA AVIONICS SYSTEMS CO.,LTD. 0.22% 17.84 End-of-day quote.11.71%
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2022China Avionics Systems Co.,Ltd. Reports Earnings Results for the Nine Months Ended Sept..
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Analyst Recommendations on CHINA AVIONICS SYSTEMS CO.,LTD.
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Financials
Sales 2022 11 598 M 1 708 M 1 708 M
Net income 2022 999 M 147 M 147 M
Net Debt 2022 600 M 88,4 M 88,4 M
P/E ratio 2022 34,1x
Yield 2022 0,72%
Capitalization 34 214 M 5 037 M 5 037 M
EV / Sales 2022 3,00x
EV / Sales 2023 2,60x
Nbr of Employees 11 294
Free-Float 33,7%
Chart CHINA AVIONICS SYSTEMS CO.,LTD.
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China Avionics Systems Co.,Ltd. Technical Analysis Chart | MarketScreener
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Technical analysis trends CHINA AVIONICS SYSTEMS CO.,LTD.
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Last Close Price 17,84 CNY
Average target price 23,21 CNY
Spread / Average Target 30,1%
EPS Revisions
Managers and Directors
Zhuo Yu Chairman & General Manager
Xiao Ming Wang Chairman-Supervisory Board
You Hong Yang Independent Director
Jin Chang Zhang Independent Director
Fa Jie Wei Independent Director
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