Core Viewpoint - JINBO Biotech (832982.BJ), known as the "king of market value" on the Beijing Stock Exchange, is entering a significant strategic partnership with Yangshengtang Co., Ltd., owned by former Chinese billionaire Zhong Shanshan [1][4]. Group 1: Strategic Partnership and Share Issuance - JINBO Biotech will issue 6.24% of its shares to Yangshengtang for an amount not exceeding 2 billion yuan, potentially marking the largest cash capital increase in the history of the Beijing Stock Exchange [2][17]. - The controlling shareholder, Yang Xia, will transfer 5% of her shares to a subsidiary of Yangshengtang, with a total reduction amounting to 1.403 billion yuan, which is expected to set a record for the largest reduction by a controlling shareholder on the Beijing Stock Exchange [3][12]. Group 2: Market Impact and Future Prospects - Following the transaction, Yangshengtang will become the second-largest shareholder of JINBO Biotech, holding 10.58% of the total share capital post-issuance [18]. - The partnership is anticipated to enhance JINBO Biotech's channel sales capabilities, leveraging Yangshengtang's extensive distribution network through its subsidiary Nongfu Spring, a leading beverage company in China [7][30]. Group 3: Financial Performance and Valuation - As of June 30, JINBO Biotech's total market value reached 40.959 billion yuan, accounting for 12.82% of the total market capitalization of the Beijing Stock Exchange [21]. - The company's price-to-earnings ratio (PE) stands at 51 times, significantly higher than its peers, indicating a potentially favorable time for the controlling shareholder to reduce holdings [23]. Group 4: Growth Strategy and Product Development - JINBO Biotech aims to expand its production capacity and establish a broader sales and marketing system through this strategic cooperation, focusing on the consumerization of medical products and the lifestyle integration of technological products [27]. - The collaboration with Yangshengtang is expected to facilitate JINBO Biotech's entry into more market areas, particularly in skincare products, which currently represent a small fraction of its revenue compared to its medical device products [36].
北交所的最大一笔「减持」来了