The 9.0362% equity of Ningbo Weifu Tianli Booster Technology Co., Ltd., a subsidiary of Weifu Hi-Tech, is being listed at the price of 16.51 million yuan. The transferor is an affiliate of the Weapon Group.
Ningbo Weifu Tianli has the world's advanced supercharger production and testing equipment, and has the ability to research, develop and mass-produce and sell turbochargers. The products have fully entered the national III market and are mainly supplied in bulk to Dongfeng Chaochai, Kunming Yunnei, Jianghuai Automobile and other more than 20 engine plants. In 2010, it achieved revenue of 113 million yuan and profit of 19,25 million yuan. In the first three months of 2011, it achieved revenue of 25.54 million yuan and profit of 3.31 million yuan. As of the end of March 2011, the company's net assets were 159 million yuan.
The evaluation of the transfer of the underlying equity was not based on the latest net assets. In September 2010, the Weifu Tianli Shareholders' Meeting resolved to increase the registered capital of the company from 51.3 million yuan to 105 million yuan, and has completed the changes in the industry and commerce. . China North Engine Research Institute, the transferor of China North Industries Group Corporation, did not increase its capital. After the capital increase, the shareholding of the transferee company was changed from 18.441% to 9.0366%. The evaluation date of the asset evaluation results is August 31, 2010, which is an assessment of the asset size of Weifu Tianli before the capital increase and the proportion of the equity held by the transferor.
In the request to the intended transferee, including the registered capital of not less than 100 million yuan, and Weifu Tianli original shareholders said they did not give up the exercise of the right of first refusal. This seems to indicate that Weifu Hi-Tech will not easily let this opportunity for equity acquisition.
In October 2010, Weifu Hi-Tech just purchased a 51% stake in Ningbo Tianli Supercharger Co., Ltd., the predecessor of Weifu Tianli, in a capital-raising acquisition, with a purchase price of 90.23 million yuan. At that time, Weifu Hi-Tech thought that the supercharger as a core component of automobiles had been rapidly developed in recent years. With the further strengthening of the national energy-saving and emission-reduction efforts, its industrial prospects have become more and more obvious. Weifu Hi-Tech Co., Ltd. increased the capital acquisition of Ningbo Tianli Co., Ltd. We improved Weifu as the industrial chain of automobile core component manufacturers, used Weifu's market platform, and implemented system supply to create conditions for strengthening and expanding Weifu.
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