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    300447   CNE100001ZB8

NANJING QUANXIN CABLE TECHNOLOGY CO., LTD.

(300447)
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Nanjing Quanxin Cable Technology Co., Ltd. completed the acquisition of Changzhou Connect Environmental And Technology Co., Ltd. from Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong.

07/04/2017 EST

Nanjing Quanxin Cable Technology Co., Ltd. (SZSE:300447) agreed to acquire Changzhou Connect Environmental And Technology Co., Ltd. from Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong for CNY 890 million on October 21, 2016. Under the terms of transaction, Nanjing Quanxin Cable Technology Co., Ltd. will pay CNY 261.4 million in cash and will issue 12.9 million new shares of Changzhou Connect Environmental And Technology Co., Ltd. Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong sold 28%, 23%, 20%, 16% and 13% stakes respectively. Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong will get CNY 73.2 million in cash and 3.63 million shares, CNY 60.1 million and 2.98 million shares, CNY 52.3 million and 2.59 million shares, CNY 41.8 million and 2.07 million shares, CNY 34 million and 1.68 million shares. As of May 5, 2017, the terms of the transaction were amended. Nanjing Quanxin Cable Technology will now issue 22.07 million shares as consideration. Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong will get CNY 73.2 million in cash and 6.18 million shares, CNY 60.1 million and 5.08 million shares, CNY 52.3 million and 4.41 million shares, CNY 41.8 million and 3.53 million shares, CNY 34 million and 2.87 million shares. The cash consideration of the transaction will be funded by Nanjing Quanxin Cable Technology Co., Ltd. rising of funds by issue of new shares of not more than CNY 271.4 million. For the year ended December 31, 2015, Changzhou Connect Environmental And Technology Co., Ltd. reported total revenue of CNY 114.3 million, total assets of CNY 141.9 million, operating profits of CNY 53.6 million, net profit of CNY 57 million and total common equity of CNY 111.3 million. The transaction is subject to approval of shareholders of Nanjing Quanxin Cable Technology Co., Ltd., State Administration of Science, Technology and Industry for National Defense, People's Republic of China approval and approval from China Securities Regulatory Commission. On October 21, 2016, the transaction has been approved by Board of Directors of Nanjing Quanxin Cable Technology Co., Ltd. On December 26, 2016, the State Administration of Science, Technology and Industry for National Defense approved the transaction. As of May 5, 2107, the transaction was approved by the CSRC. Tianfeng Securities Co., Ltd. acted as independent financial advisor, Jincheng Tongda & Neal acted as legal advisor and Jiangsu Talent CPA Co., Ltd. acted as an accountant for Nanjing Quanxin Cable Technology Co., Ltd. Nanjing Quanxin Cable Technology Co., Ltd. (SZSE:300447) completed the acquisition of Changzhou Connect Environmental And Technology Co., Ltd. from Zhou Yi, Jiang Qian, Qin Quanxin, Li Hongchun and Que Yuanlong on July 4, 2017.


ę S&P Capital IQ 2017
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Financials
Sales 2020 663 M 104 M 104 M
Net income 2020 139 M 21,8 M 21,8 M
Net cash 2020 146 M 22,9 M 22,9 M
P/E ratio 2020 30,9x
Yield 2020 -
Capitalization 6 602 M 1 037 M 1 037 M
EV / Sales 2019 4,40x
EV / Sales 2020 6,29x
Nbr of Employees 660
Free-Float 45,9%
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Managers and Directors
Xiang Lou Chen Chairman, General Manager & Secretary
Bing Xu Chief Financial Officer & Deputy General Manager
Chong Guo Wang Chairman-Supervisory Board
Huan Zhang Head-Systems Engineering
Shao Qiang Cheng Deputy Head-Research & Development Center