Tomson times health to deal with performance breakthroughs: to develop cross-border e-commerce short-term affected by the epidemic

Tomson times health to deal with performance breakthroughs: to develop cross-border e-commerce short-term affected by the epidemic
“Unexpectedly, the first overseas merger and acquisition took place within a short period of time and there was a huge impairment of goodwill, which directly brought the company to the first change since its listing.”Shi said that he has long warned himself and his team that the M & A market is “easy to eat, difficult to swallow, and even more difficult to digest.”On March 13, Tomson Baker announced that the Australian company’s LSG performance indicators acquired by the company in 2018 caused Tomson Baker to accrue a total of 15 goodwill and intangible asset impairments.700 million, the company’s strength.Therefore, independent financial advisor and sponsor CITIC Securities apologized to investors.Tomson said to the sauna and Yewang that since the outbreak of the new coronavirus pneumonia, the company ‘s distributors, suppliers, retailers and other stakeholders have been affected to varying degrees, resulting in the company ‘s production, marketing and sales activities.It cannot be carried out on schedule and is expected to have a certain impact on the company’s operations in the short term.Tomson Times: The product did not reach the expected level in the pharmacy channel. On August 30, 2018, Tomson Times announced that the company will pass through the overseas platform company through its subsidiary Guangzhou Tomson Baisheng Co., Ltd.Purchase 100% equity of LSG at cash consideration.LSG is mainly engaged in the research, development, production and sales of probiotic products, and its main brand is Life-Space (“Yi Shishi”).Tomson Times’ latest 2019 annual report revealed that Tomson Baisheng achieved operating income in 20194.5.7 billion, operating profit -18.1.2 billion yuan, net profit -15.5.2 billion yuan.Tomson Times is right. At the end of 2019, because LSG’s actual operating conditions in 2019 are far lower than the forecast of future cash flows at the initial recognition of intangible assets, and it is expected that the influencing factors that do not reach the forecast are non-temporary, so Tomson Times is responsible for the LSG trademark.And customer relationship for impairment testing and evaluation.In 2019, Tomson Baker conducted an impairment test on the goodwill formed by the merged LSG and accrued the goodwill impairment provision10.08 trillion, goodwill fell by 45 compared with the beginning of the year.35%, provision for impairment of intangible assets5.61 trillion, intangible assets fell significantly from the early 44.49%, deferred resale delays diabetic adrenaline 1.6.8 billion yuan.The above-mentioned changes have caused Tomson Baker’s 2019 operating results to fall short of expectations.In 2019, Tomson Began achieved operating income of 52.6.1 billion, an annual increase of 20.94%, but net profit attributable to mother is -3.5.5 billion, 135 in the previous decade.51%.Regarding the causes caused by LSG, Tomson Baker told the sauna and Yeenet that the LSG-affiliated “living space” product, using Tomson Baker’s business synergies, began to be launched in domestic pharmacies, mothers and infants in March 2019.And the corresponding resource delivery.However, due to product approval restrictions, “Life-Space” did not meet expectations in the pharmacy channel.In addition, the “E-Commerce Law” and related laws and regulations were issued and implemented in early 2019. Part of the original Australian purchasing model was affected, resulting in LSG brand related channels in the form of marketing, channels, consumer communication, product delivery, etc.Variety.There are certain uncertainties in cross-border acquisition integration, which also affects LSG’s performance.In addition to the weak sales of the “Life-Space” belonging to LSG, Tomson Times said that the company’s operations have been affected by the new coronary pneumonia epidemic.”Since the outbreak of the new coronary pneumonia, the company’s dealers, suppliers, retailers and other stakeholders have been affected to varying degrees,” Tomson said, a variety of means to prevent and control the outbreak, resulting in consumption and production in the short termBoth inside and outside are affected to a certain extent, with a wide range of influence affecting all regions and multiple industries.As a result, Tomson ‘s production, marketing and sales activities cannot be carried out as scheduled, and it is expected to have a certain impact on the company ‘s operations in the short term.But Tomson also said that after the outbreak, people pay more attention to correcting health and improving their own immunity. The national level also pays more attention to the health industry and the development of the pharmaceutical industry. It has integrated more recognition of this industry and affirmed the expenditure of nutrition.The function and value of supplements, these recognition factors are also beneficial to the industry.“2020年,在中国市场,汤臣倍健会按照‘健力多’的高度来全力打造‘Life-Space’国内产品”,汤臣倍健方面向记者表示,公司将继续加大市场投入力度,开拓Cross-border e-commerce.The estimated value added was as high as 34.11 times On August 30, 2018, Tomson Baker announced the acquisition of 100% equity of LSG.The acquisition budget shows that as of December 31, 2017, the book value of the owner ‘s equity of LSG is only 1 as of the evaluation base date.01 trillion, the evaluation value is more than 35 trillion.The draft introduces that if the market method is used for evaluation, the variable 100% of the LSG’s 100% equity is evaluated.6.2 billion, with a value-added of 34.6.1 billion yuan, an estimated appreciation of 34.11 times; if the income method is used for evaluation, the LSG ‘s 100% equity evaluation variable is 38.6.2 billion, with a value-added of 37.6 billion, with an estimated value added of 37.06 times.In the end, the value of Tomson ‘s 100% valuation of LSG ‘s 100% equity was set at 35.6.2 billion yuan, the total transaction consideration will not exceed 35.1.4 billion.Regarding the 34 times value-added assessment, Tomson explained that LSG ‘s core assets are intangible assets (trademarks, customer relationships, etc.) and other core resources (management team, human resources) that cannot be recognized as intangible assets in accountingIt is basically reflected at the book level.In addition, Tomson believes that LSG has better growth, and its growth momentum comes from both external and internal, mainly reflected in the rapid growth of the probiotic market and good brand awareness.However, Tomson Bianjian reminded at the time that the valuation and valuation of the underlying assets of this transaction were relatively high, and value-added penetration, the company reminded investors to pay attention to higher risks.The acquisition draft shows that in 2016 and 2017, LSG’s total assets were 2, respectively.03 billion, 2.8.8 billion yuan, operating income were 3.07 billion, 4.7.3 billion, with a net profit of 6302.730,000 yuan, 6337.190,000 yuan.In the first quarter of 2018, LSG’s operating income was 1.4.7 billion yuan, with a net profit of 2805.760,000 yuan.The draft believed at the time that after the completion of this transaction, Tomson Baker would confirm a certain amount of goodwill. If LSG’s future operating conditions did not meet expectations, there would be an impairment risk of the relevant goodwill, which would adversely affect Tomson Baker’s future operating performance.Sauna, night net Linzi editor Li Weijia proofreading Jia Ning Linzi @xjbnewscom