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    603883   CNE1000023Q8

LBX PHARMACY CHAIN JOINT STOCK COMPANY

(603883)
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End-of-day quote Shanghai Stock Exchange  -  2022-06-30
33.15 CNY   -2.15%
06/22Beijing Mulls Banning Internet Healthcare Firms From Selling Drugs Online
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05/27UBS Adjusts LBX Pharmacy Chain's Price Target to 47.50 Yuan From 81.50 Yuan, Keeps at Buy
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04/28LBX Pharmacy Chain Joint Stock Company Reports Earnings Results for the Full Year Ended December 31, 2021
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LBX Pharmacy Chain Joint Stock Company singed an Asset Purchase Agreement to acquire a 71.9% stake in Hunan Huairen Great Health Industry Development Co., Ltd. from group of sellers for CNY 1.6 billion.

03/07/2022 EDT

LBX Pharmacy Chain Joint Stock Company (SHSE:603883) singed a Cooperation Intention Agreement to acquire a 46%-72% stake in Hunan Huairen Great Health Industry Development Co., Ltd. from Lin Chengxiong and Chen Yuping on December 10, 2021. LBX Pharmacy Chain Joint Stock Company (SHSE:603883) singed an Asset Purchase Agreement to acquire a 71.9% stake in Hunan Huairen Great Health Industry Development Co., Ltd. from group of sellers for CNY 1.6 billion on March 6, 2022. Under the terms, LBX Pharmacy Chain will pay the consideration in installments as, first installment of CNY up to 30% of the cash consideration within five working days from the date when the shareholders meeting of LBX Pharmacy Chain considers and approves the transaction, second installment of up to 60% of the cash consideration within five working days of from the delivery date (that is, the date when 71.96% equity of the Hunan Huairen Great Health is transferred to the name of LBX Pharmacy Chain and the industrial and commercial change registration is completed), third installment of up to 90% of the cash consideration within five working days after the completion of the special audit of the profit and loss during the transition period of this transaction and the remaining consideration within five working days after the completion of the delivery. As part of the transaction, LBX Pharmacy Chain will acquire a 29.21% stake from Lin Chengxiong, 7.45% stake from Chen Huiping, 6.79% stake from Huaihua Renxin Health Consulting Center (Limited Partnership), 7.09% stake from Nanjing Huatai Great Health No. 1 Equity Investment Partnership (Limited Partnership), 3.28% stake from Huaihua Renshu Health Management Center (Limited Partnership), 4.69% stake from Huaihua Renzhong Health Service Center (Limited Partnership), 4.22% stake each from Huaihua Renlin Health Management Consulting Service Center (Limited Partnership) and Huaihua Renmin Health Consulting Center (Limited Partnership), 1.46% stake from Hunan Kairui Enterprise Management Service Partnership (Limited Partnership), 1% stake from Yiyang Kangxin Pension Service Center (Limited Partnership), 0.97% stake from Huaxi Yinfeng Investment Co., Ltd., 0.49% stake from Nanjing Huatai Great Health No. 2 Equity Investment Partnership (Limited Partnership), 0.12% stake from Nanjing Daoxing Investment Management Center (General Partnership) and 0.97% stake from Zhejiang Wecome Pharmaceutical Company. Post completion, Hunan Huairen Great Health will be held 76.12% by LBX Pharmacy Chain, 12.49% by Lin Chengxiong, 3.19% by Chen Huiping, 2.19% by Huaihua Renxin Health Consulting 1.94% by Huaihua City Assets Management, 1.46% by Hunan Pharmaceutical Group, 1.41% by Huaihua Renshu Health Management, 0.49% by Hunan Light Salt Venture Capital Management. LBX Pharmacy Chain will use own funds to finance the transaction. As of September 2021, Hunan Huairen Great Health reported total assets of CNY 1.22 billion and Owners' equity of CNY 367.1 million. The transaction is approved by the board of LBX Pharmacy Chain and needs to be submitted to the general meeting of shareholders for deliberation. As of April 22, 2022, shareholders of LBX Pharmacy Chain Joint Stock Company has approved the transaction. The transaction will not affect the normal operation of LBX Pharmacy Chain. The transaction requires the State Administration for Market Regulation to conduct an anti-monopoly review.


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Financials
Sales 2022 18 259 M 2 725 M 2 725 M
Net income 2022 780 M 116 M 116 M
Net Debt 2022 2 673 M 399 M 399 M
P/E ratio 2022 25,1x
Yield 2022 0,98%
Capitalization 19 200 M 2 865 M 2 865 M
EV / Sales 2022 1,20x
EV / Sales 2023 1,02x
Nbr of Employees -
Free-Float 33,7%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 33,15 CNY
Average target price 36,91 CNY
Spread / Average Target 11,4%
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Managers and Directors
Li Wang President
Jing Yang Zhu Chief Financial Officer
Zi Long Xie Chairman
Cheng Xiang Wang Chairman-Supervisory Board
Zhe Min Dan Independent Director
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