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    002180   CNE1000007W9

NINESTAR CORPORATION

(002180)
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Ninestar Corporation completed the acquisition of remaining 49% stake in Zhuhai Xinwei Technology Co., Ltd. and Zhuhai National Resources & Jingjie Printing Technology Co., Ltd. from a group of shareholders.

11/02/2020 EST

Ninestar Corporation (SZSE:002180) agreed to acquire remaining 49% stakes in Topjet Technology Co., Ltd., Zhuhai Xinwei Technology Co., Ltd. and Zhuhai National Resources & Jingjie Printing Technology Co., Ltd. from a group of shareholders for approximately CNY 720 million on February 29, 2020. As in March 2020, the deal was signed. Ninestar Corporation intends to issue 6.9 million shares to Topjet Technology shareholders, namely, Zhou Xin, Lin Fufei and Zhuhai Hengqin New District Tuoxiang Investment Partnership (Limited Partnership) and purchase 49% of Topjet Technology shares. The transaction consideration will be paid in full by issuing shares. The lock-up period is 36 months. Ninestar Corporation intends to issue 6.3 million shares to Zhuhai Xinwei Technology Co., Ltd.'s shareholders namely Zhao Zhixiang, Yuan Dajiang, Ding Xueping and Zhuhai Chengwei Lixin Investment Partnership (Limited Partnership) and purchase 49% of the Zhuhai Xinwei Technology shares. The consideration will be paid in full by issuing shares. The lock-up period is 36 months. Ninestar Corporation intends to issue approximately 4 million shares to Jingjie Technology shareholders, namely, Peng Keyun, Zhao Jiong, Wang Xiaoguang, Zhao Zhifen, Bao Anyong, Pu Yu, Wang Junyu and Zhuhai Zhongrun Chuangda Printing Technology Partnership (Limited Partnership) and purchase 49% of the Jingjie Technology shares. The transaction consideration will be paid in full by issuing shares. The lock-up period is 12 months. In total, Ninestar Corporation will issue 17.3 million shares in the deal. Before the transaction, Ninestar Corporation holds 51% equity and after the transaction completed, it will hold 100% equity in each of Topjet Technology Co., Ltd., Zhuhai Xinwei Technology Co., Ltd. and Zhuhai National Resources & Jingjie Printing Technology Co., Ltd. As of May 15, 2020, Ninestar Corporation will acquire 49% stake in Zhuhai Xinwei Technology Co., Ltd. for CNY 208.6 million by issuing 6,758,617 shares and 49% stake in Zhuhai National Resources & Jingjie Printing Technology Co., Ltd for CNY 133 million, issuing 4.31 million shares. As reported on July 31, 2020, Ninestar adjusted the issue price from CNY 30.87 to CNY 30.77 per share, and the issuance from 11.07 million shares to 11.10 million shares. For the year ending December 31, 2019, Topjet Technology reported total assets of CNY 308.7 million, total owner's equity of CNY 192.8 million, revenue of CNY 512.1 million and net profit of CNY 46.8 million. For the year ending December 31, 2019, Zhuhai Xinwei Technology reported total assets of approximately CNY 310 million, total owner's equity of approximately CNY 176 million, revenue of CNY 527.5 million and net profit of CNY 50.6 million. For the year ending December 31, 2019, reported Zhuhai National Resources & Jingjie Printing Technology reported total assets of approximately CNY 162 million, total owner's equity of CNY 107.6 million, and revenue of CNY 206.4 million and net profit of CNY 22.4 million. Ninestar Corporation convened the Board of Directors meeting on March 1, 2020 to review and approve relevant proposals such as the report on this deal. The transaction has been approved at the 5th meeting of the 6th directorate and the fourth meeting of the sixth supervisory Board of Ninestar Corporation on Feb 29, 2020. The shareholders' general meeting of Ninestar Corporation considered and approved the relevant proposal of the transaction. The CSRC approved the transaction. On May 15, 2020, the 8th session of the company’s 6th directorate approved the proposal on the adjustment in the acquisition of asset through share issuance plan. Orient Securities Investment Banking Co., Ltd. acted as financial advisor, King & Wood Mallesons acted as legal advisor and BDO China Shu Lun Pan Certified Public Accountants acted as accountant for Ninestar Corporation. Ninestar Corporation (SZSE:002180) completed the acquisition of remaining 49% stake in Zhuhai Xinwei Technology Co., Ltd. and Zhuhai National Resources & Jingjie Printing Technology Co., Ltd. from a group of shareholders on November 2, 2020. On October 19, 2020, Ninestar Corporation completed the acquisition of Zhuhai Xinwei Technology.


ę S&P Capital IQ 2020
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Financials
Sales 2021 27 895 M 4 407 M 4 407 M
Net income 2021 1 400 M 221 M 221 M
Net Debt 2021 - - -
P/E ratio 2021 52,5x
Yield 2021 -
Capitalization 73 298 M 11 579 M 11 579 M
Capi. / Sales 2021 2,63x
Capi. / Sales 2022 2,40x
Nbr of Employees 16 886
Free-Float 63,6%
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Number of Analysts 1
Last Close Price 51,95 
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Managers and Directors
Wei Yan General Manager & Director
Lei Chen Chief Financial & Accounting Officer
Dong Ying Wang Chairman
Yan Yun Zeng Chairman-Supervisory Board
Xue Cheng Zou Independent Director
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