标的公司近年处于亏损状态，核心财务数据如下（单位：万美元）： | 项目 | 2024年12月31日 | 2025年9月30日 | | --- | --- | --- | | 资产总额 | 7160.67 | 6782.04 | | 负债总额 | 8514.91 | 9067.45 | | 净资产 | -1354.25 | -2285.42 | | 营业收入 | 9231.09 | 7827.83 | | 净利润 | -1195.53 | -931.17 | | 经营活动现金流量净额 | 361.16 | 443.54 | 公告披露，标的公司亏损主要因期间费用高、经营效率不足：一是销售费用占比高，广告宣传效益转化差、仓储资源配置不合 理；二是人员规模与业务体量不匹配，人工成本偏高；三是外部融资利率高，财务费用压力大。 公司已聘请专业机构开展法律、财务及税务尽职调查，并由天健会计师事务所审计标的公司财务数据。本次定价综合考虑标的 公司核心价值：包括覆盖美国专业商超及亚马逊的销售网络、Tractor Supply Co.、Walmart等数十家稳定客户及2000多家商超门 店资源，以及与公司业务的协同效应。经协商， ...

Financing Dynamics - Pianzaihuang Pharmaceutical Co., Ltd. announced an investment of RMB 2 billion in the CICC Medical Fund, representing 20% of the fund's target size, focusing on the healthcare sector including traditional Chinese medicine and biomedicine [3] - Chobani raised $650 million (approximately RMB 4.6 billion) in its latest funding round, aiming to expand its product lines and processing capabilities, with a valuation now at $20 billion [5] Listing Dynamics - Bama Tea announced a global offering of 9 million shares, aiming to raise approximately HKD 428 million (around RMB 39 million) for expanding production capacity [7] Acquisition Dynamics - Kering Group announced a strategic cooperation with L'Oréal, involving a €4 billion acquisition of Kering's high-end fragrance brand Creed and exclusive rights for future beauty products from Gucci, Bottega Veneta, and Balenciaga [9] - Meili Tianyuan announced the acquisition of 100% of Shiyuanli for RMB 1.25 billion, aiming to enhance its brand portfolio in the high-end beauty service sector [11] - Birkenstock signed an agreement to acquire its long-term distributor in Australia, ensuring continuity in contracts and operations, with an annual sales revenue of approximately €55 million [15] Personnel Dynamics - Paul Smith Foundation appointed Taylor Thompson as the first American resident designer, aiming to provide guidance and workspace for emerging designers [19] - Kim Jones was appointed as the creative director for Bosideng's new Areal high-end urban line, marking his return to the fashion industry [22] - Zalando appointed Thomas Schwulera, a former executive from L'Oréal, as the vice president of the beauty category, focusing on strategic growth [25]