停工亏损，评估价逾4400万元标的1600万元卖 凯撒旅业拟收购汉莎集团旗下航食企业

Core Viewpoint - The acquisition of Qingdao Lufthansa by Caesar Travel Industry at a significantly lower price than its assessed value raises questions about the rationale behind purchasing a loss-making and inactive company [1][2][4]. Group 1: Acquisition Details - Caesar Travel Industry plans to acquire 100% of Qingdao Lufthansa for 16 million yuan, while the assessed value is 44.39 million yuan, indicating a substantial discount [1][2]. - Qingdao Lufthansa has a maximum annual production capacity of 25 million meals and a daily output of approximately 100,000 meals, with a storage capacity for 400,000 meals [1][2]. - The assessed net asset value of Qingdao Lufthansa is 28.21 million yuan, with an assessed value of 44.39 million yuan, resulting in a valuation increase of 1.62 million yuan and a growth rate of 57.35% [2]. Group 2: Financial Performance - Qingdao Lufthansa has been inactive for nearly a year and reported a revenue of 11.66 million yuan and a net loss of 15.37 million yuan in 2024 [4]. - In the first half of the current year, Qingdao Lufthansa's net loss was 760,360 yuan, with no revenue disclosed [4]. Group 3: Strategic Rationale - The acquisition is intended to leverage Qingdao Lufthansa's existing production capabilities and professional qualifications in airline catering, allowing for quicker market entry in Shandong and surrounding areas [4]. - The company aims to avoid the high initial investment and lengthy certification process associated with building new production lines, thereby reducing investment and operational risks [4]. - Caesar Travel Industry has a long-standing strategic partnership with the German Lufthansa Group, which is a leading player in the global airline catering sector [5].