Group 1 - The core transaction involves a cash acquisition of 75% equity in SEA3 for only 6.97 RMB, raising questions about the valuation given SEA3's total assets exceeding 1.4 billion RMB [2][3] - SEA3 has been facing financial difficulties, with total assets declining and negative net assets reported for recent years, indicating it is in a state of insolvency [3][4] - The acquisition strategy is characterized as "low price + high capital increase," where the nominal purchase price is a means to gain control, with a subsequent commitment to invest over 75 million RMB into SEA3 [6][8] Group 2 - The acquisition aligns with the company's strategic plan to establish production capacity in Southeast Asia, aiming to mitigate risks associated with U.S. tariffs on glove exports [5][7] - SEA3 operates in the competitive disposable glove market, which has been adversely affected by high tariffs imposed by the U.S. on Chinese imports, prompting companies to seek overseas production solutions [7][8] - The company has previously invested significantly in Southeast Asia, establishing production lines to enhance its operational capabilities and market presence [7]
花一杯奶茶钱竟能买下总资产超亿元的公司 中红医疗这笔并购背后打的什么算盘?