Source: Taishan Finance

Taishan financial reporter Changfeng

On November 8, Aucma (600336. SH) announced that its holding subsidiary, Qingdao Aucma Biomedical Co., Ltd. (hereinafter referred to as "Aucma Bio"), intends to publicly transfer its 45% stake in Qingdao Huaao Zhicun Biomedical Co., Ltd. (hereinafter referred to as "Huaao Zhicun"), with a reserve price of 17.1 million yuan and an appreciation rate of 1275.57%.

According to the announcement, Huaao Zhicun was established in December 2021 with a registered capital of 20 million yuan, registered in Qingdao, and its main business is R&D, manufacturing, and sales of automated sample banks, automated liquid nitrogen tanks and other equipment, with Qingdao MGI Technology Co., Ltd. (hereinafter referred to as "Qingdao Huada") holding 55% of the shares and AUCMA Biotechnology holding 45% of the shares.

Founded in May 2019, MGI Qingdao is a listed company of MGI (688114. SH), which went public in 2022 and is a wholly-owned subsidiary of BGI (300676. SZ), the major shareholder and actual controller is Wang Jian, whose main business is the research and development, production and sales of instruments and equipment, reagent consumables and other related products.

The main achievement of Huaao Zhicun after its establishment is the ultra-low temperature biobank. According to AUCMA's official introduction, the company has broken out of its own world in the field of medical cold chain - in the field of ultra-low temperature, it has cooperated with BGI to build China's first -80 °C automated ultra-low temperature biobank, breaking the foreign monopoly on this technology.

However, judging from the performance of Huaao Zhicun, the marketization of this technology does not seem to be ideal.

Huaao Zhicun's audited financial report disclosed that the company achieved an operating income of 45.5863 million yuan and a net profit of -62,100 yuan in 2023, and an operating income of 2.3582 million yuan and a net profit of -2.7414 million yuan from January to March 2024. According to the unaudited financial report, the company achieved an operating income of 10.5897 million yuan and a net profit of -7.2572 million yuan from January to September 2024.

As of the end of 2023, Huaao Intelligent Deposit has total assets of 25.7165 million yuan, total liabilities of 20.2126 million yuan, and net assets of 5.5039 million yuan. As of the end of March 2024, the company's total assets are 18.0691 million yuan, total liabilities are 15.3066 million yuan, and net assets are 2.7625 million yuan. Unaudited data shows that the company is insolvent at the end of September 2024.

According to the announcement, the equity transfer was evaluated using the income method, with an appraisal base date of March 21, 2024, an appraised market value of 38 million yuan, an increase of 35.2375 million yuan, and an appreciation rate of 1275.57%. At the same time, the announcement said that Qingdao Huada did not give up the right of first refusal, which means that Qingdao Huada is likely to repurchase this part of the equity at a high price.

As for the reason for the divestment of Huaao Zhicun, AUCMA said in the announcement that the transfer is a reasonable adjustment based on the company's overall business development plan and actual operating conditions, which is conducive to the company's focus on resources, improve the efficiency of capital use, and better promote the development of the company's main business, and will not adversely affect the company's normal production and operation activities, which is in line with the fundamental interests of all shareholders and the company.

In addition, the reporter noted that according to the third quarter report of 2024 released by AUCMA, the company's operating income in the first three quarters was 6.382 billion yuan, a year-on-year decrease of 11.51%; the net profit attributable to the parent company was 2.8266 million yuan, a year-on-year decrease of 97.39%; If there is a transferee to take over Huaao Zhicun at a price of 17.1 million yuan or even higher, it will undoubtedly play a greater role in helping AUCMA's 2024 annual performance.

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