并购预案出炉！这家公司明起复牌

Core Viewpoint - Yaxing Chemical plans to acquire 100% equity of Shandong Tianyi Chemical through a combination of share issuance and cash payment, marking a strategic transformation for the company after a 10-day trading suspension [1][4]. Group 1: Acquisition Details - The acquisition involves purchasing Tianyi Chemical from 24 shareholders, with the share issuance price set at 5.83 yuan per share, which is no less than 80% of the average trading price over the previous 120 trading days [2]. - The company intends to raise supporting funds from up to 35 specific investors, including its controlling shareholder, to cover cash payments, project construction, and working capital [2]. - Upon completion, Tianyi Chemical will become a wholly-owned subsidiary of Yaxing Chemical, which will continue to be controlled by Weifang City Investment Group [2]. Group 2: Financial Performance of Tianyi Chemical - Tianyi Chemical is projected to achieve revenues of 1.283 billion yuan, 1.12 billion yuan, and 694 million yuan for the years 2023, 2024, and the first half of 2025, respectively, with net profits of 54 million yuan, 71 million yuan, and 34 million yuan for the same periods [3]. Group 3: Strategic Implications for Yaxing Chemical - The acquisition is seen as a necessary move for Yaxing Chemical to enhance its profitability amid a challenging operational environment, as the company has faced a net loss of 144 million yuan and an asset-liability ratio of 85.15% in the first three quarters of 2025 [4]. - By integrating Tianyi Chemical's products, such as brominated flame retardants and membrane materials, Yaxing Chemical aims to optimize its product structure and extend its industrial chain [4]. - The merger is expected to create synergies that will enhance Yaxing Chemical's competitiveness in the fine chemical sector and facilitate diversification of its business [5]. Group 4: Industry Context - The acquisition reflects a broader trend in the chemical industry towards consolidation and high-end development in response to stricter environmental and safety regulations [5]. - The collaboration between Yaxing Chemical and Tianyi Chemical is anticipated to provide a model for other companies facing homogenization challenges in the chemical sector [5].