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    300383   CNE100001S16

BEIJING SINNET TECHNOLOGY CO., LTD

(300383)
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Beijing Sinnet Technology Co., Ltd and Jin Fushen signed an equity transfer and capital increase agreement to acquire 42.86% stake in Kunshan Meihongye Metal Products Co., Ltd. from Gongqingcheng Zhongfan Investment Partnership (Limited Partnership) and Huang Deqiang.

09/26/2020 EST

Beijing Sinnet Technology Co., Ltd (SZSE:300383) and Jin Fushen signed an equity transfer and capital increase agreement to acquire 42.86% stake in Kunshan Meihongye Metal Products Co., Ltd. from Gongqingcheng Zhongfan Investment Partnership (Limited Partnership) and Huang Deqiang for CNY 90 million on September 26, 2019. Under the term, Gongqingcheng Zhongfan Investment Partnership (Limited Partnership) and Huang Deqiang will transfer 42.85% and 0.01% stake in Kunshan Meihongye Metal Products for CNY 89.98 million and CNY 0.02 million respectively. After the transfer is completed, Beijing Sinnet Technology and Jin Fushen will use CNY 39.73 million and CNY 74.59 million to increase capital in Kunshan Meihongye Metal Products. Post completion of both the transaction, Beijing Sinnet Technology and Jin Fushen will hold 40% and 23% stake in Kunshan Meihongye Metal Products respectively. Gongqingcheng Zhongfan Investment Partnership (Limited Partnership) will retain a 37% stake in Kunshan Meihongye Metal Products. As of December 31, 2018, Kunshan Meihongye Metal Products reported total assets of CNY 127.15 million, total common equity of CNY 118.72 million, revenue of CNY 0, negative EBIT of CNY 1.31 million and net loss of CNY 1.31 million. The transaction was approved by the board of directors of Beijing Sinnet Technology on the 5th meeting of the 4th directorate held on September 26, 2019. There is no need for approval from the shareholders’ meeting. Beijing Sinnet Technology Co., Ltd (SZSE:300383) and Jin Fushen cancelled the acquisition of 42.86% stake in Kunshan Meihongye Metal Products Co., Ltd. from Gongqingcheng Zhongfan Investment Partnership (Limited Partnership) and Huang Deqiang on September 26, 2020.


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Financials
Sales 2021 8 136 M 1 273 M 1 273 M
Net income 2021 979 M 153 M 153 M
Net Debt 2021 1 700 M 266 M 266 M
P/E ratio 2021 22,9x
Yield 2021 0,61%
Capitalization 22 237 M 3 479 M 3 479 M
EV / Sales 2021 2,94x
EV / Sales 2022 2,68x
Nbr of Employees 1 185
Free-Float 65,6%
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Beijing Sinnet Technology Co., Ltd Technical Analysis Chart | 300383 | CNE100001S16 | MarketScreener
Technical analysis trends BEIJING SINNET TECHNOLOGY CO., LTD
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Mean consensus OUTPERFORM
Number of Analysts 12
Last Close Price 14,41 CNY
Average target price 19,10 CNY
Spread / Average Target 32,5%
EPS Revisions
Managers and Directors
Yu Hang Yang General Manager & Director
Li Jun Zhang Chief Financial Officer
Dian Gen Geng Chairman
Jun Hui Wang Chairman-Supervisory Board
Cheng Xun Hou Independent Director
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