SMM6 March 15: Sitong Xinliao announced at noon on June 15 that the company intends to pay cash for the 100% stake in New Tianjin Alloy held by Tianjin Alloy and the 100% stake in New Hebei Alloy held by Hebei Alloy, with a total transaction amount of 1.05 billion yuan. This transaction constitutes a major asset restructuring and related party transactions, but does not constitute a restructuring listing. Before and after this transaction, the Zang family are the actual controllers of Sitong new materials, this transaction will not lead to changes in the control of the company.
According to the announcement, the target company is one of the largest recycled aluminum producers in the industry, with the production scale ranking among the top three in the industry. The main business of the company is the R & D, production and sales of cast aluminum alloy and deformed aluminum alloy casting rods, using waste aluminum, electrolytic aluminum and industrial silicon as the main raw materials to produce various brands of cast aluminum alloy ingots / cast aluminum alloy liquid and deformed aluminum alloy casting rods. The related products of the target company can be applied to fuel vehicles and new energy vehicles, 5G communication equipment, consumer electronics, machinery manufacturing, electrical appliances, high-speed rail, shipping, military and other fields.
The business of Sitong New Materials mainly includes the manufacture and sales of aluminum-based master alloys, copper-based master alloys, iron-based master alloys, nickel-based master alloys, zinc-based master alloys, lead-based master alloys and special alloy materials; manufacturing and sales of metal additives and metal fluxes (excluding dangerous goods); operating the export business of the enterprise's own products and the import business of machinery and equipment, spare parts, raw and auxiliary materials needed by the enterprise; Research, development and technology transfer of new metal materials.
In response to questions from investors, Sitong New Materials said that in the field of lightweight aluminum alloy wheels, the company is the only enterprise in the industry from aluminum alloy material R & D and manufacturing, mold R & D and manufacturing, tooling equipment research and manufacturing to wheel product design, manufacturing process research and development, digital information application.
Sitong New Materials said that after the completion of this transaction, first of all, Sitong New Materials can quickly cut into the manufacturing industry of cast aluminum alloy and deformed aluminum alloy with the help of the new Tianjin alloy, so as to enhance the business scale and profitability of listed companies. enhance the risk resistance of listed companies. Secondly, the listed companies will have a complete industrial chain of R & D and manufacturing of "cast aluminum alloy R & D and manufacturing" function of master alloy R & D and "wheel mold R & D and manufacturing" wheel product design, production process and technology research and manufacturing from smelting equipment R & D and manufacturing. Third, listed companies and target companies have a high degree of overlap in the fields of upstream raw material supply and downstream customer applications, sales channel sharing can reduce sales costs, centralized procurement can save procurement costs, and the synergy benefit is more obvious. Fourth, listed companies and target companies have many years of R & D experience, strong R & D teams, R & D strength of new materials, and advanced R & D and production equipment. Both sides of the transaction combine "advantages in the research and development of new materials", "leading production technology" and "high-quality customer resources" to form a comprehensive competitive advantage that integrates human resources, product research and development, production technology, and customer resources, and deeply ploughs the upper and lower reaches of the industrial chain. Continuously enhance the value of listed companies.
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