Foton Motor announced today that the company plans to acquire the assets of the Sapu business owned by Foshan Nanhai Foton Motor Co., Ltd., a wholly-owned subsidiary of its subsidiary Beijing Foton Environmental Protection Co., Ltd., in a debt-taking manner, with the balance being made up by cash, and at the same time People who receive the Sapu business. The purchase price was RMB 24,703,000. According to the announcement, according to the market sales situation of the Sappi pika and legendary SUV products and the profitability of the products, Foton Motor expects to increase net profit of 29.87 million yuan and 35.28 million yuan in 2010-2011. At the same time, the company will also receive relocation compensation of 100 million yuan from the local government of the South China Sea. Purchase price of 24.7 million yuan According to the announcement, the environmentally-friendly Sapu business is produced by Foshan Nanhai Foton Motor Co., Ltd., a wholly-owned subsidiary of the company. The main products are sappika and legendary SUV. The company employs 901 people and is equipped with soldering, painting and final assembly. The entire vehicle tests four core process capabilities. The main plant and infrastructure are leased. The current production capacity is 30,000 units of the annual Sappika and legendary SUV. The scope of this acquisition is the assets and liabilities related to the business operations of Sap, including specifically the account receivables and inventory actually occupied by Sap business production; the machinery and equipment and transportation equipment actually used by Sap business production. However, due to the relocation of the Sapu business, the proposed fixed assets include only fixed assets that can be used after relocation; land use rights in Lishui Town, Nanhai District, Foshan City, covering an area of ​​815 mu; Sapu's business-related liabilities For supplier loans and bank loans. According to the assessment, the book value of the Sap business assets to be acquired is 262,545,500 yuan, the evaluation value is 24,602,160 yuan, and the assessed impairment is 6.29%; the liability to be undertaken is 221,321,300 yuan, and the assessed value is consistent with the book value. After the assessment, the net assets (the difference between assets and liabilities) was 24,703,000 yuan. Look at the future market of pickups and SUVs After the completion of the acquisition, the total assets of Foton Motor increased from 10.804 billion yuan to 11.034 billion yuan, the total liabilities increased from 7.583 billion yuan to 7.813 billion yuan, and the asset-liability ratio increased from 70.19% to 70.80%. In 2009, Foton Motor reduced its profit due to acquisitions. 25.12 million yuan. Based on the market sales of the Sappika and legendary SUV products and the profitability of the products, the company expects to increase net profit of 29.87 million yuan and 35.28 million yuan in 2010-2011. At the same time, Foton Motor will receive relocation compensation of 100 million yuan from the local government of the South China Sea. Foton Motor believes that through analysis of the market, pickup trucks and SUVs will have a larger demand in the future, accounting for about 20% of the global automobile sales, and it is one of the major models of light commercial vehicles. After years of development, Sapu has become one of the nine brands of Foton Motor. Up to now, it has sold more than 70,000 units of Saippika and established a sales network based mainly in the south. At present, Foton Motors has advanced power resource advantages and rich operating experience in this business, which is an important part of the company's future strategic growth. The acquisition of the environmental power Sapu business will effectively enhance the product quality and lay the foundation for the growth of this business. The announcement stated that the acquisition of the Sapu business is beneficial to the further integration of auto production resources by Foton Motor, unified management, and optimized production layout. According to the development plan of Foton, after the completion of the acquisition, the main products of the Sapu business are the Sapp pika and the legendary SUV.
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