Mengniu plans to take the first share of cheese, which has just been exposed to illegal occupation of funds

category:Finance
 Mengniu plans to take the first share of cheese, which has just been exposed to illegal occupation of funds


According to the announcement, miaokelanduo introduced Mengniu as the strategic shareholder of the company and its wholly-owned subsidiaries, and signed the strategic cooperation agreement. On January 5, Mengniu signed a share transfer agreement with the current shareholders of miaokelanduo, i.e. the collective assets operation and management center of Dongli Town, Yiyuan County, Wang Yongxiang, Liu Mudong and Yiyuan huawang Investment Co., Ltd. to acquire about 5% of the non restricted current shares of miaokelanduo held by the above transferor at a price of 14 yuan per share, with a total price of 287 million yuan. On the other hand, Mengniu subscribed 42.9% of the shares of miaokelanduos subsidiaries with 458 million cash.

According to the data, secolando was renamed as Guangze stock before its name was changed. At present, its main business is the research and development, production and sales of dairy products of cheese and liquid milk, and it is also engaged in the trade of dairy products mainly including milk powder and butter. After the transformation of cheese business, the performance of miaokelanduo grew rapidly, with a revenue of 1.16 billion yuan in the first three quarters of 2019, a year-on-year growth of 5.8%, and a net profit of 14.497 million yuan.

A few months ago, Mengniu was rumoured to be negotiating merger and acquisition with miaokelanduo, but they failed to do so because of differences between the purchase price and the content of the business, which was later denied by both parties. But according to the currently announced cooperation plan, in the view of the industry, this may be a compromise plan.

Miaokelan said in many ways that the introduction of Mengniu as a strategic investor is to reduce the companys asset liability ratio, enhance its operational capacity and anti risk ability. In the future, both sides will give full play to their respective advantages, actively carry out the development and promotion of various cheese products, and carry out multi-dimensional business cooperation in sales channel construction, marketing resource sharing, capacity layout improvement, etc. As the main producer of the companys cheese business, Jilin Science and technology can expand its production capacity better and speed up its occupation of Chinas cheese market.

Mengniu also responded to the first financial reporter that the cheese industry is the mainstream direction of dairy consumption upgrading, and Mengniu is optimistic about the development potential of the cheese market. In the future, the two sides will achieve win-win cooperation through complementary advantages, and work together to explore the potential cheese market in China and even in the world.

Song Liang, an independent dairy analyst, told the first financial reporter that Mengnius stake in miaokelanduo or more valued the prospect of snack cheese market. At present, the overall growth rate of dairy products is slowing down, but the annual compound growth rate of snack cheese market is about 25%, especially in the 3-4 market, the growth rate is more than 200%. At present, Yili shares and Guangming dairy are both adding cheese business. At present, miaokelanduo has a considerable market share in snack cheese market, which is undoubtedly a shortcut.

According to the data released by the Dairy Association, Chinas per capita cheese consumption is only 0.1kg, far behind Japan and South Koreas 2.4kg and 3.1kg, far behind Europes 18.7kg per capita cheese consumption, and the market believes that there is still a lot of room for growth of cheese business.

At present, the main domestic dairy enterprises, including Yili, Guangming dairy, Sanyuan, as well as the international dairy giants Fonterra and freesland, have been in the layout of cheese business. Although most dairy enterprises do not have income from cheese business listed separately, from the perspective of import data, the import volume of cheese has increased from less than 10000 tons in 2016 to 108300 tons in 2018, and the import volume has increased 10 times.

However, it is worth noting that Miaoke Landau is not peaceful recently, and has just been exposed the problem of illegal use of funds by related parties.

On December 20, miaokelanduo released the announcement on the companys self inspection of the fund occupation of related parties, saying that during the self inspection, it was found that the companys controlling shareholders related parties occupied the companys Fund for non operational purposes in 2019, accounting for 239.5 million yuan in total, accounting for 19.66% of the companys latest audited net assets. According to the announcement, from March to may 2019, Chai Xiu, the actual controller of miaokelanduo, arranged Jilin Guangze Dairy Technology Co., Ltd. (hereinafter referred to as Jilin technology), a wholly-owned subsidiary of miaokelanduo, to transfer funds of 239.5 million yuan to the related parties and the third party cooperative plan, and the related funds were used by the related parties to repay bank loans. As of December 20, the fund occupier has returned all the occupied funds to Jilin Science and technology, and paid a total of 9.999 million yuan to Jilin Science and technology. Chai Xiu also issued an apology letter to the public, but this also caused the market to question the Chai Xiu familys fund chain. However, Mengniu did not make a statement on the impact of the incident on the cooperation between the two sides, only indicating that the specific information is subject to the announcement of miaokelanduo. Source: First Financial Editor: Guo Chenqi, nbj9931

On December 20, miaokelanduo released the announcement on the companys self inspection of the fund occupation of related parties, saying that during the self inspection, it was found that the companys controlling shareholders related parties occupied the companys Fund for non operational purposes in 2019, accounting for 239.5 million yuan in total, accounting for 19.66% of the companys latest audited net assets.

According to the announcement, from March to may 2019, Chai Xiu, the actual controller of miaokelanduo, arranged Jilin Guangze Dairy Technology Co., Ltd. (hereinafter referred to as Jilin technology), a wholly-owned subsidiary of miaokelanduo, to transfer funds of 239.5 million yuan to the related parties and the third party cooperative plan, and the related funds were used by the related parties to repay bank loans. As of December 20, the fund occupier has returned all the occupied funds to Jilin Science and technology, and paid a total of 9.999 million yuan to Jilin Science and technology. Chai Xiu also issued an apology letter to the public, but this also caused the market to question the Chai Xiu familys fund chain.

However, Mengniu did not make a statement on the impact of the incident on the cooperation between the two sides, only indicating that the specific information is subject to the announcement of miaokelanduo.