On December 20, Yuyue Medical announced that it plans to acquire a 51% stake in Shanghai Youto Optical Co., Ltd. with its own funds of 5.1 million yuan. In this acquisition transaction, the acquisition of Mr. Wu Guangming’s 25% equity interest in the company constitutes a connected transaction.
Yuyue Medical acquired a 51% stake in Yutuo Optics and became the controlling shareholder: it intends to acquire a 25% stake in Mr. Wu Guangming, a related party, paying an acquisition of 2.5 million yuan, and acquiring 13% of each of the non-related parties Wang Haisheng and Zhang Honglin. 1.3 million yuan. After the completion of the acquisition, the company holds 51% of the equity of You Yue Optics and becomes the controlling shareholder. Wang Haisheng holds 12% of the shares, Zhang Honglin holds 12% of the shares, and Dong Yong holds 25% of the shares.
Excellent reading optics is still in the loss stage, and the value is determined by the net assets assessment: Youtuo Optical is mainly engaged in the R&D, manufacturing and sales of optical glasses, and is still in a loss stage. After the completion of the acquisition, the company will intervene in the optical glasses market and expand its own category, which is a strategic layout. From January to October 2013, Youtu Optical realized a revenue of 2.56 million yuan and a net profit of -817,000 yuan. The consideration for the acquisition is based on the net assets, etc., and the value of the company is determined to be 10 million yuan.
Yuyue Medical Co., Ltd. is a leading medical device company in China. The value of brands and channels cannot be ignored, and it has strong expansion ability. After the acquisition of the excellent optical, the strategic layout of the optical glasses market (contact lenses) is expected to become a new growth point. The company is actively expanding its products in the two markets of OTC and hospital channels. Air purifiers and blood glucose meters are steadily advancing, and will soon form a performance contribution. There are also product reserves in the field of medical consumables, which is conducive to intervening in hospital terminals with broad market space.
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