DELISI(SZ:002330) Zheng Quan Shi Bao Wang·2025-10-27 14:18Core Viewpoint - The company, Delisi (得利斯), plans to acquire 100% equity of Shandong Yufenghe Food Co., Ltd. for 32.32 million yuan, which will enhance its operational stability and long-term development by owning the production facilities currently leased [1][2]. Company Summary - Delisi announced the acquisition of Yufenghe, which was established in December 2020 with a registered capital of 30 million yuan. The core assets include production facilities located in Zhaocheng, Shandong [1]. - As of August 31, 2025, Yufenghe's total assets are 40.97 million yuan, total liabilities are 12.68 million yuan, and net assets are 28.29 million yuan. For the first eight months of 2025, it reported revenue of 3.30 million yuan and a net loss of 471,600 yuan [1]. - The assessed net asset value of Yufenghe is 46.12 million yuan, reflecting a 63.06% increase primarily due to the revaluation of fixed and intangible assets. The final transaction price is approximately 30% lower than the assessed value, considering prior investments in facility upgrades and future repair needs [1]. Industry Summary - In the context of a declining cycle in the livestock industry, meat processing companies are facing performance pressures. The industry is navigating between recovering demand and fluctuating costs [2][3]. - Since August, the wholesale price of pork has decreased for ten consecutive weeks, with a significant drop following the National Day and Mid-Autumn Festival, leading to widespread losses across the industry [2]. - Analysts predict that the livestock sector will continue to experience differentiation, with an oversupply situation due to the recovery of pig production capacity, while consumer demand has not shown strong growth [3].