西藏发展将全资控股拉萨啤酒，拟2.9亿元买下嘉士伯所持50%股权

Core Viewpoint - ST Xizang Development Co., Ltd. (ST Xifa) announced a significant asset restructuring plan to acquire 50% equity of Tibet Lhasa Beer Co., Ltd. from Carlsberg for a cash consideration of 292 million yuan, aiming to achieve 100% control over the beer company [1][2]. Group 1: Transaction Details - The acquisition price is based on an evaluation report from Beijing Zhongqi Hua Asset Appraisal Co., Ltd., which valued the entire company at 1.196 billion yuan, with the 50% equity valued at approximately 590 million yuan [1]. - The transaction constitutes a major asset restructuring as the net assets of the target company exceed 50% of ST Xifa's audited net assets for the last fiscal year, and the transaction amount exceeds 50 million yuan [1]. - The deal does not involve issuing new shares and will not change the controlling shareholder or actual controller of ST Xifa, but it is expected to enhance asset integrity and operational decision-making efficiency [1]. Group 2: Legal and Financial Context - ST Xifa previously faced a share transfer dispute regarding the 50% equity of Tibet Lhasa Beer, which has been resolved through a settlement payment of 35 million yuan to Daohe Industrial, clearing obstacles for the acquisition [2]. - The company has been in a pre-restructuring phase, and successful court approval of the restructuring application could improve its financial structure and promote sustainable development [2]. - Tibet Lhasa Beer is a key profit driver for ST Xifa, with projected revenues of 390 million yuan and a net profit of 102 million yuan for 2024, contributing significantly to ST Xifa's turnaround [3]. Group 3: Financial Impact - Following the acquisition, ST Xifa expects significant improvements in liabilities, equity, net profit attributable to shareholders, and basic earnings per share [3]. - The latest financial report anticipates a net profit attributable to shareholders of 110 million to 160 million yuan for the full year of 2025, representing a year-on-year growth of 319.91% to 510.77% [3]. - The expected growth is primarily driven by the recovery of large receivables and a significant reduction in credit impairment losses [3].