帝科股份负债率82%斥资7亿重启收购交易前标的大幅减资或为规避监管

Core Viewpoint - The company, Dike Co., announced a cash acquisition of 60% equity in Zhejiang Suote Materials Technology Co., for 696 million yuan, raising concerns about financial stability and potential risks associated with the acquisition [1][2]. Group 1: Acquisition Details - Dike Co. plans to acquire 60% of Zhejiang Suote for a total valuation of 1.16 billion yuan [2]. - The acquisition follows a previous failed attempt to acquire Jiangsu Suote, which was terminated in September 2022 due to various market and regulatory challenges [3]. - The revised agreement includes updated performance commitments and financial data for Zhejiang Suote [1]. Group 2: Financial Concerns - Prior to the acquisition, Zhejiang Suote's net assets significantly decreased, raising suspicions of asset reduction to avoid major asset restructuring scrutiny [4]. - Zhejiang Suote's net profit is projected to improve from a loss of 12.56 million yuan in 2023 to a profit of 50.91 million yuan in 2024, which raises questions about the feasibility of achieving performance commitments [4]. - Dike Co. faces substantial financial pressure, with interest-bearing liabilities exceeding cash reserves, and a debt ratio that has reached new highs [5][7]. Group 3: Future Implications - The acquisition may result in Dike Co. incurring over 300 million yuan in goodwill, further increasing financial risk and debt pressure [1][7]. - The company has been attempting to raise 265 million yuan through a public offering for expansion projects, but this has been stalled for over a year [5][7].