鲁股观察 | 从合作终止到全资控股：蔚蓝生物4700万元“接盘”合资公司

Core Viewpoint - The announcement by Qingdao Blue Biological Co., Ltd. reveals the completion of the acquisition of a 50% stake in Aidi Meng Blue Biological Technology (Shandong) Co., Ltd. from ADM Singapore, marking a transition from international collaboration to full ownership by the company [1] Group 1: Acquisition Details - The acquisition price for the 50% stake is set at 47 million RMB, and following the transaction, Aidi Meng Blue will become a wholly-owned subsidiary of Qingdao Blue Biological [1][8] - The joint venture, which began in 2021, faced several challenges including project suspension and liquidation, ultimately leading to Qingdao Blue Biological's decision to acquire full control [1][5] Group 2: Historical Context - The partnership with ADM Singapore started with a shareholder agreement in October 2021, where both parties agreed to a 50% ownership structure through capital increase [5] - Subsequent announcements indicated the establishment of a project for the research and industrialization of micro-ecological preparations, with a total investment of approximately 400 million RMB [6][9] Group 3: Financial Status of the Target Company - Aidi Meng Blue reported a net loss of 3.69 million RMB for 2025, with total liabilities of 338,700 RMB and a net asset value of approximately 119.11 million RMB [8] - The construction of the micro-ecological preparation project has not commenced, and the company currently lacks substantial operational activities [8] Group 4: Company Performance - Qingdao Blue Biological achieved a revenue of 1.32 billion RMB in 2024, reflecting a year-on-year growth of 10.16%, with a net profit of approximately 62.64 million RMB [9] - The company invested 118 million RMB in research and development, accounting for 8.95% of its revenue, indicating a strong commitment to innovation within the industry [9][10] Group 5: Industry Position - Qingdao Blue Biological is recognized as one of the early entrants in the micro-ecological preparation sector in China, leveraging its research and sales channel development to establish a competitive advantage [10] - The company has developed a comprehensive technical innovation system, including a high-throughput screening and identification technology platform for microbial strains, positioning it as a leader in the field [10]