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    600196   CNE000000X38

SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.

(600196)
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Sisram Medical Limited completed the acquisition of Shanghai Foshion Medical System Co., Ltd. from Shanghai Fosun Pharmaceutical Co., Ltd. and Qianda International Trading Co., Ltd.

07/13/2021 EDT

Sisram Medical (Tianjin) Limited entered into an agreement to acquire Shanghai Foshion Medical System Co., Ltd. from Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHSE:600196) and Qianda (Tianjin) International Trading Co., Ltd. for approximately CNY 310 million on April 22, 2021. Sisram Medical (Tianjin) Limited will acquire 95% and 5% stake from Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Qianda (Tianjin) International Trading Co., Ltd. for CNY 296.78 million and CNY 15.62 million respectively. The consideration shall be payable within 30 days from completion. For year ended December 31, 2020, Shanghai Foshion Medical System Co., Ltd. has reported net profit of CNY 15.69 million and net assets of CNY 69 million. The transaction is subject to certain conditions including approval from independent shareholders of Sisram Medical Ltd (SEHK:1696), parent of Sisram Medical (Tianjin) Limited, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and Qianda (Tianjin) International Trading Co., Ltd. having complied with the relevant approval procedures and obtained all necessary authorization and no material adverse change in the business, results of operations, condition having been occurred until closing. necessary authorizations and having procured Foshion to comply with its relevant approval procedures and to obtain all necessary authorizations, in accordance with all laws. The committee of independent Board of Directors of Sisram Medical Ltd has been established and is of the view that transaction is fair and reasonable. Independent Board Committee recommends the Independent Shareholders to vote in favour of the proposed ordinary resolution relating to the acquisition. The EGM of Sisram Medical (Tianjin) Limited willbe held on June 30, 2021 to approve the transaction. The deal was approved by shareholders of Sisram Medical Ltd on June 30, 2021. If all the conditions not fulfilled by December 31, 2021, then deal will be automatically terminated. Closing of the transaction will take place on the date when the registration of change of shareholders of Shanghai Foshion Medical System Co., Ltd. as a result of the transaction with the relevant government authorities in the People's Republic of China is completed. The proceeds form the transaction will be used for reducing debt and general working capital. Gram Capital Limited acted as independent financial advisor to Sisram Medical Ltd. Computershare Hong Kong Investor Services Limited served as registrar to Sisram Medical (Tianjin) Limited. Sisram Medical (Tianjin) Limited completed the acquisition of Shanghai Foshion Medical System Co., Ltd. from Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (SHSE:600196) and Qianda (Tianjin) International Trading Co., Ltd. on July 13, 2021. All the conditions related to the transaction were satisfied. Upon completion, Shanghai Foshion Medical System Co., Ltd. became a wholly-owned subsidiary of Sisram Medical (Tianjin) Limited.


ę S&P Capital IQ 2021
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Analyst Recommendations on SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
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Financials
Sales 2021 37 550 M 5 814 M 5 814 M
Net income 2021 4 674 M 724 M 724 M
Net Debt 2021 17 898 M 2 771 M 2 771 M
P/E ratio 2021 30,8x
Yield 2021 0,90%
Capitalization 135 B 20 830 M 20 830 M
EV / Sales 2021 4,06x
EV / Sales 2022 3,46x
Nbr of Employees 34 375
Free-Float 57,5%
Chart SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
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Shanghai Fosun Pharmaceutical (Group) Co., Ltd. Technical Analysis Chart | 600196 | CNE000000X38 | MarketScreener
Technical analysis trends SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO., LTD.
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TrendsBearishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 57,01 CNY
Average target price 68,40 CNY
Spread / Average Target 20,0%
EPS Revisions
Managers and Directors
Xiao Hui Guan Executive President & Chief Financial Officer
Yu Qing Chen Co-President
Ke Xin Wang Co-President
Dong Ming Li Co-President
Yi Fang Wu Chairman