Zhengye International Announces Disposal of Property – Key Details for Investors
Summary of Announcement
Zhengye International Holdings Company Limited (Stock Code: 3363) has issued a supplemental announcement regarding a significant property disposal transaction. The Company provided further information on the basis for the consideration, use of proceeds, and strategic rationale behind the sale of an industrial property, which may have implications for shareholders and the Company’s share price.
Key Points from the Announcement
- Disposal Details: The Company disposed of the first floor of a factory building with a gross floor area of approximately 1,208.06 square metres for a total consideration of around RMB 7,880,100, translating to approximately RMB 6,523 per square metre.
- Valuation and Market Comparison: The consideration was determined after arm’s length negotiations and with reference to prevailing market prices of comparable industrial properties in Zhongshan City. The Board compared the transaction with four similar industrial properties, adjusting for factors such as floor level, ceiling height, floor loading capacity, and market discounts between asking and transaction prices. The final unit price of the disposal falls within the current market range after a typical discount of about 10% from asking prices.
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Use of Proceeds: The Company expects to realize a gain of approximately RMB 3,892,000 from the disposal. The net proceeds will be allocated as follows:
- 35% for payment of taxes and transaction-related expenses
- 55% for the development of Phase Two of the Zhigu Project, broken down into:
- 40% for construction and installation works (building and infrastructure)
- 10% for professional fees (design, engineering, consultancy, project management)
- 5% for contingencies and ancillary expenses
- 10% for general working capital
- Strategic Rationale: The disposal is part of the “Three Olds” redevelopment initiative led by the Zhongshan Municipal Government, aiming to modernize and optimize land use. The Zhigu Project, implemented in two phases, is redeveloping old, peripheral land and facilities into modern factory premises.
- Operational Impact: The disposed property is not core to the Group’s main production bases. The Group retains 59 factories and ancillary facilities across three production bases, which continue to provide 100% of the packaging paper business’s production capacity. The Directors believe the disposal will not adversely impact ongoing operations.
- Compliance and Saleable Area: The Group is required to retain at least 30% of the Zhigu Project’s completed gross floor area for 15 years, with the remainder (Saleable Area) available for sale. About one-third of the completed area has already been sold, with this disposal forming a part of it.
- Board’s View: The Board considers the transaction to be on normal commercial terms, fair, and reasonable, and in the best interests of the Company and its shareholders.
Potential Price-Sensitive Information
- The disposal is expected to result in a gain of approximately RMB 3.89 million, which may positively impact the Group’s financial results.
- The proceeds will support the development of the next phase of the Zhigu Project, a key growth initiative, and strengthen the Group’s financial flexibility.
- Confirmation that the disposal will not impact the Group’s core production capacity, thus preserving business continuity and operational strength.
Conclusion
This supplemental disclosure provides clarity on the financial and strategic rationale for the property disposal. The transaction unlocks capital for further development while ensuring the Group’s operational integrity is maintained. Investors should monitor subsequent announcements for updates on the Zhigu Project and further asset sales, as these may influence the valuation and future performance of Zhengye International.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should conduct their own research or consult professional advisors before making investment decisions. The Company’s future performance may be affected by various factors, including market conditions and execution of its development projects.
正業國際補充公告詳情（繁體中文）
重點摘要
- 資產處置：公司已出售廠房首層，建築面積約1,208.06平方米，總代價約人民幣7,880,100元，單價約人民幣6,523元/平方米。
- 估值及市場比較：代價經雙方公平磋商並參考中山市可比工業物業現價而定，並參考四宗相似物業的報價及成交價，最終成交價處於市場區間，並考慮約10%議價折讓。
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資金用途：預計處置將錄得約人民幣389.2萬元收益，淨收益分配如下：
- 35% 用於稅項及交易相關費用
- 55% 用於松灣智谷項目第二期發展，包括：
- 40% 用於建築及安裝工程
- 10% 用於專業費用（設計、工程、諮詢及項目管理）
- 5% 用於不可預見及其他附帶開支
- 10% 用於一般營運資金
- 戰略考量：本次處置乃配合中山市政府“三舊”改造政策，優化土地利用，將老舊設施重建為現代化廠房。
- 營運影響：處置資產並非集團主要生產基地，現有59間工廠及配套設施仍維持100%包裝紙業務產能，董事認為對日常營運無不良影響。
- 合規及可售面積：根據規定，集團需保留不少於項目已建成面積的30%作自用15年，其餘可售。截至公告日，約三分之一已售出，本次處置屬於可售面積。
- 董事會觀點：董事認為本交易屬正常商業條款，公平合理，符合公司及股東整體利益。
或具價格敏感性的重要資訊
- 本次處置預期將錄得約人民幣389.2萬元收益，有望正面影響集團財務表現。
- 資金將支持松灣智谷項目下一階段發展，鞏固集團未來增長動力及財務彈性。
- 董事確認處置不影響主要產能，有助維持業務穩定性。
總結
本次公告進一步披露資產處置的財務及戰略原因，有助釋放資本投入未來發展。投資者宜留意後續項目進展及資產處置進程，這些因素或會影響公司未來估值及股價表現。
免責聲明：本文章僅供參考，並不構成任何投資建議。投資者作出投資決定前，應自行研究或諮詢專業顧問。公司未來表現或受多項因素影響，包括市場狀況及項目推進進度。
