中原环保2.79亿元现金收购两家关联企业 一标的业绩下滑由盈转亏|并购谈

Core Viewpoint - Zhongyuan Environmental announced plans to acquire 100% equity of Zhengzhou Xinhong Reclaimed Water Resource Development Co., Ltd. for 146 million yuan and Zhengzhou Gewo Environmental Development Co., Ltd. for 133 million yuan, totaling approximately 279 million yuan, marking another asset acquisition following the 4.421 billion yuan acquisition of Zhengzhou Sewage Purification Co., Ltd. in 2022 [1][4]. Group 1: Acquisition Details - The acquisitions of Xinhong and Gewo will be conducted through public bidding, with both transactions involving the Zhengzhou State-owned Assets Supervision and Administration Commission [1][4]. - Xinhong and Gewo were previously subsidiaries of Zhengzhou Sewage Purification Co., Ltd. and were transferred to Zhengzhou Public Utilities Investment Development Group Co., Ltd. before being reassigned to the Zhengzhou State-owned Assets Commission [1][4]. Group 2: Financial Performance - Xinhong's core business includes reclaimed water sales, metering, and maintenance services, reporting a revenue of 26.3011 million yuan and a net profit of 5.445 million yuan for the fiscal year 2024 [1][4]. - Gewo's main operations involve sludge treatment technology and has developed a comprehensive technical system, achieving a revenue of 61.5531 million yuan and a net profit of 7.4401 million yuan in 2024. However, its performance significantly declined in the first nine months of 2025, with revenue of only 1.13 million yuan and a net loss of 589,600 yuan [2][5]. Group 3: Valuation and Payment - The valuation of Xinhong's total equity was assessed at 146 million yuan as of September 30, 2025, reflecting an increase of 34.4669 million yuan, or a 30.90% appreciation over its book value [2][5]. - The acquisition is expected to be financed in cash, although specific funding sources have not been disclosed in the announcement [2][5].