谈判未果终“分手” 邦基科技叫停重大资产重组 产业链闭环计划搁浅

Core Viewpoint - Shandong feed giant Bangji Technology has decided to terminate its major asset restructuring plan to acquire equity stakes in seven companies held by Riverstone Farm Pte. Ltd. after failing to reach an agreement during negotiations [2][5][6]. Group 1: Termination of Restructuring - The board of Bangji Technology approved the termination of the major asset restructuring plan, which involved acquiring 100% equity in six farming companies and 80% equity in a consulting firm [5][6]. - The termination was attributed to the inability to reach a consensus with the transaction counterpart, despite multiple negotiations [6][9]. - The company stated that the termination would not significantly impact its current operations or financial status [7]. Group 2: Industry Context and Challenges - Bangji Technology's decision to pursue this acquisition was driven by the need to extend its operations into the downstream breeding industry amid intense competition and declining performance in the feed sector [9][12]. - The company has faced a downward trend in net profits, with figures of 1.10 billion, 820 million, and 510 million for the years 2022, 2023, and 2024 respectively, indicating a pressing need for business transformation [9][12]. - The acquisition was seen as a strategic move to create a vertically integrated supply chain, enhancing synergy between feed production and pig breeding [12]. Group 3: Market Dynamics - The feed industry is currently experiencing fierce competition, characterized by a shift towards a saturated market, which has intensified the pressure on companies like Bangji Technology [9][12]. - The targeted acquisition was expected to provide new profit growth points and a stable demand reservoir for the company's feed business [12]. - Previous attempts to acquire similar assets by other companies have faced challenges, often due to high pricing demands from sellers [12][13].