Leadman(SZ:300289) IPO日报·2025-08-01 00:33Core Viewpoint - The article discusses Beijing Lideman Biochemical Co., Ltd.'s plan to acquire up to 70% of Beijing Xiansheng Xiangrui Biological Products Co., Ltd. through cash payment, which is expected to enhance Lideman's competitive position in the IVD business sector, particularly in tuberculosis diagnosis and treatment [1][6]. Group 1: Acquisition Details - Lideman announced on July 30 that it is planning to acquire a majority stake in Xiansheng Xiangrui, which will become a subsidiary post-transaction [1]. - The funding for this acquisition will come from Lideman's own funds and bank loans, with the estimated cost for 70% of Xiansheng Xiangrui's shares being approximately 2.9323 billion yuan [10]. - The transaction is classified as a major asset restructuring under the regulations, and it does not involve issuing new shares or changing control of Lideman [1]. Group 2: Target Company Overview - Xiansheng Xiangrui operates in the biopharmaceutical manufacturing sector, focusing on in-vitro diagnostic reagents and human vaccines, with key products related to tuberculosis screening and treatment [3]. - The company was listed on the New Third Board in September 2022 and has been undergoing guidance for a potential listing on the Beijing Stock Exchange since 2023 [4][5]. - Xiansheng Xiangrui's revenue from 2020 to 2024 is projected to be stable, with figures of 390 million, 530 million, 639 million, 653 million, and 582 million yuan, and net profits of 95 million, 150 million, 128 million, 121 million, and 149 million yuan respectively [5]. Group 3: Lideman's Financial Performance - Lideman's financial performance has been volatile, with revenues from 2020 to 2024 reported as 472 million, 564 million, 706 million, 462 million, and 370 million yuan, and net profits fluctuating between losses and gains [8]. - The company's first-quarter report for 2025 indicated a revenue decline of 16.61% year-on-year, with a net loss of 1.2517 million yuan [8]. - The comparison shows that Xiansheng Xiangrui's net profit performance significantly exceeds that of Lideman, indicating a potential strategic move by Lideman to improve its financial situation through this acquisition [9][8].