Sibao technology announced in the evening of the 20th that the board of directors of the company had deliberated and passed the proposal to acquire 100% equity of Tuoli technology. In order to consolidate and further enhance the company's competitive advantage in the silicone rubber industry, enrich and improve the company's industrial layout, the company and its wholly-owned subsidiary silicon Baoxin material acquired 100.00% equity of Tuoli technology with a cash of RMB 255 million. Tuoli technology is a national high-tech enterprise specializing in the R & D, production, sales and technical services of functional polymer materials such as silicone, epoxy and UV curing. Its products are divided into three categories: silicone rubber, UV curing materials and epoxy resin materials. The business performance assessment target agreed by both parties of the transaction is that in 2020-2022, Tuoli technology will realize the deduction of non net profit of 15 million yuan, 20 million yuan and 25 million yuan respectively, that is, the accumulated net profit of three years will reach 60 million yuan. In addition, the assessment objective also requires that the cumulative operating net cash flow in three years shall not be less than 80% of the cumulative assessment profit in three years. According to the announcement, Tuoli technology products have been applied in 5g communication, power transmission and transformation, electronic appliances, new energy, transportation, automobile manufacturing and other fields, successfully serving ZTE, BYD, State Grid, China Southern Power Grid, Midea, Gree and many other well-known enterprises, and at the same time entering Huawei's material record base. In the field of electronic and electrical glue, Tuoli technology has become a long-term supplier of Midea, Gree and other end users; in the field of electric power anti pollution flashover coating, Tuoli technology has maintained good cooperation with national grid, and its products are widely used in the construction of national UHV and UHV grid, and it is the main supplier of UHV factory composite insulator coating; in the field of new energy vehicle control system In the field of adhesive, Tuoli technology has become the supplier of BYD, a leading domestic new energy vehicle enterprise; in the field of 5g communication adhesive and pressure-sensitive adhesive, Tuoli technology products have been successfully applied to mobile phone terminal equipment, has become a ZTE supplier, and has maintained rapid growth in recent years. Wang Youzhi, chairman of Sibao technology, said that an important factor for the company and Tuoli technology to finally reach a merger and acquisition is the strong complementarity of their businesses. Both sides have a similar starting time in the industry. Sibao technology mainly focuses on construction glue. Tuoli technology has obvious advantages in the fields of electronic appliances, UHV, 5g communication and so on, which are exactly the direction that Sibao technology wants to vigorously expand in the future. In addition, as an enterprise established for more than 20 years, Tuoli technology has rich accumulation in technology and market customers. This acquisition is conducive to broadening the company's industrial layout, enriching the company's product line, quickly cutting into emerging fields and entering the supply chain of leading enterprises. In the future, Sibao technology will be empowered by brand, management, capital and other resources to vigorously support Tuoli technology to obtain greater market share. Source: cninfo.com, silicone mall, etc
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