Boshen Co., Ltd. (002282.SZ): Proposed to establish a joint venture and purchase operating assets to invest in the insulation pipeline business

Zhitong Finance App News, Boshen Co., Ltd. (002282.SZ) announced that the company decided to jointly invest with Shandong Wanchangshun Environmental Technology Co., Ltd. (“Wan Changshun”) to establish a joint venture (the proposed name is “Shandong Shantie New Material Technology Co., Ltd.”, “Joint Venture”), and the joint venture will purchase the operating assets of Wan Changshun and its related enterprises in cash to undertake their original production capacity, customers and technical resources to carry out business related to anticorrosive insulation pipelines. The joint venture consists of a joint investment of 200 million yuan between the company and Wan Changshun, of which the company holds 70% of the shares and Wan Changshun holds 30% of the shares. After the transaction is completed, the joint venture is included in the scope of the company's consolidated statements as a holding subsidiary of the company.

After the establishment of the joint venture, it will purchase its operating assets from Wan Changshun and its related companies in two installments in cash. Among them: The assessed value of the operating assets purchased this time is 116 million yuan, and the transaction price is 116 million yuan; since one of its production lines is undergoing transformation, it cannot be included in the scope of this assessed asset. After the transformation of the production line is completed, it will be evaluated separately, and purchased separately using the assessed value as consideration for the transaction. The company's investment aims to lay out a clean heating equipment circuit and enter the field of prefabricated direct-buried insulation pipelines.