Announcement on Receiving Performance Compensation for Foreign Investment of Subsidiators
Release time:
2020-08-05
Securities Code: 600668 Securities Abbreviation: Jianfeng Group No.: Lin 2018-034
Bond Abbreviation: 13 Peak 02 Bond Code: 122344
Announcement of Zhejiang Jianfeng Group Co., Ltd.
on Performance Compensation Received by Subsidiaries for Foreign Investment
The Board of Directors and all directors of the Company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and assumes individual and joint responsibility for the truthfulness, accuracy and completeness of its contents .
Basic Information on 1. Performance Commitment
On February 28, 2017, Zhejiang Jianfeng Pharmaceutical Co., Ltd. (hereinafter referred to as "Jianfeng Pharmaceutical"), a subsidiary of the Company, and Guilin Shangyuan Plant Products Co., Ltd. (hereinafter referred to as "Guilin Shangyuan") and Beijing Huibaoyuan Enterprise Management Co., Ltd. (hereinafter referred to: beihui Management) and Beijing Huibaoyuan Biotechnology Co., Ltd. (hereinafter referred to as: Beihui Biotechnology) signed the "Agreement on Capital Increase and Equity Transfer of Beijing Huibaoyuan Biotechnology Co., Ltd." (hereinafter referred to as: "Master Agreement"), "Performance Commitment Compensation Agreement", agreed that under the premise of meeting the investment conditions of each period, Jianfeng Pharmaceutical intends to increase capital and transfer equity, investment in Beihui Biology in stages.
According to the Performance Commitment Compensation Agreement, Beihui Management and Guilin Shangyuan have made commitments to the target net profit of Beihui Biology in each year of the compensation period. If the actual net profit of Beihui Biology in a certain year is lower than the target net profit promised in the current period, Beihui Management and Guilin Shangyuan will compensate Jianfeng Pharmaceutical in the form of cash or shares. For details, please refer to the announcement
-Pro 2017-003"Announcement on Foreign Investment of Subsidiators" published by the company in the designated information disclosure media "shanghai securities news", "china securities journal" and the website of Shanghai Stock Exchange (www.sse.com.cn ) on March 1, 2017.
2. Performance Commitment Compensation(I) Jianfeng Pharmaceutical has completed the first phase of investment in 80 million yuan. Beihui Biology's registered capital has increased from 80 million yuan to 100 million yuan, of which Jianfeng Pharmaceutical holds 20 million shares, with a shareholding ratio of 20%.
(II) Beihui Biology's holding subsidiary Guangxi Huibaoyuan Pharmaceutical Technology Co., Ltd.'s newly-built production base located in the "China-Malaysia Qinzhou Industrial Park" is in the GMP certification stage and has not yet been fully put into production. Due to large investment and other reasons, Beihui Biology suffered a net profit loss attributable to the owner of the parent company in 2017. According to CAC Special Zi [2018] No. 0955 "Verification Report on Performance Commitments of Beijing Huibaoyuan Biotechnology Co., Ltd." issued by China Certified Public Accountants (Special General Partnership), Beihui Biotechnology's net profit attributable to the owner of the parent company in 2017 was -37.3434 million yuan, and failed to fulfill its performance promise of "achieving break-even in 2017. Beihui Management and Guilin Shangyuan shall pay 7.4687 million yuan as compensation for 2017 annual performance to Jianfeng Pharmaceutical.
The (III) Commitment Party decided that Beihui Management would choose shares to compensate Jianfeng Pharmaceutical. According to the agreement of the Performance Commitment Compensation Agreement, Beihui Management would transfer its 1,867,169 shares of Beihui Biology to Jianfeng Pharmaceutical at the price (4 yuan/share) of the latest capital increase from Jianfeng Pharmaceutical to Beihui Biology, and compensate Jianfeng Pharmaceutical with the obtained 7.4687 million yuan equity transfer.
On December 25, 2018, Beihui Bio received the "Filing Notice" from the registration agency, and has completed the registration procedures for the change of the above-mentioned shares. Peak Pharmaceutical has also received the compensation of 7.4687 million yuan paid by Beihui Management. So far, Beihui Management has fulfilled the agreement of the Performance Commitment Compensation Agreement and completed the performance compensation for 2017.
As of the announcement date, Peak Pharmaceuticals holds a total of 21,867,169 shares of Beihui Bio, with a shareholding ratio of 21.87.
is hereby announcedZhejiang Jianfeng Group Co., Ltd. Board of Directors
December 27, 2018
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