According to the official website of Beijing Stock Exchange , Knight Dairy’s IPO application has been accepted recently.
It is reported that Knight Dairy plans to issue no more than 52.27 million shares (excluding over-allotment option ). After the issuance, the shareholding ratio of public shareholders will not be less than 25% of the total share capital of after the company's public offering. , the final issuance The quantity shall be determined by the board of directors authorized by the general meeting of shareholders through negotiation with the lead underwriter based on specific circumstances and regulatory requirements.
After deducting the issuance expenses, the funds raised this time will be invested in the dairy farming project:
The project implementation entity is Ordos Knight Kubuqi Animal Husbandry Co., Ltd., which plans to purchase and breed 3,500 lactating cows. After the project is completed, the ranch will achieve an annual new milk production capacity of 40,000 tons and an annual new sales revenue of 213 million yuan.
Knight Dairy stated in the prospectus that this move can effectively ensure the company's long-term and stable supply of high-quality milk in the future. On the one hand, the company has become a strategic partner of Mengniu Dairy, and the ranch mainly supplies organic raw milk to Mengniu Dairy; on the other hand, Raw milk from the pasture is supplied to independent dairy processing plants, further increasing the added value of the product and expanding the market scale.
Public information shows that Knight Dairy is a comprehensive enterprise integrating agriculture, animal husbandry, milk, sugar, and the development of the entire industry chain. It has now established forage planting, dairy farming, dairy product processing and sales, sugar beet cultivation, white sugar and An industrial cluster development model integrating the processing and sales of beet shreds and molasses . At present, Knight Dairy's main products include organic raw milk, dairy products and milk-containing beverages, white sugar and its by-products.
Among them, all organic raw milk products come from the intensive breeding of the company's own cattle farms. The roughage used in the cattle farms mainly comes from silage corn, alfalfa, etc. grown on the company's own farms. At present, the company has 4 large-scale intensive, modern and standardized dairy breeding bases (farms). As of December 31, 2021, there are more than 12,900 dairy cows, more than 4,600 lactating cows, and a daily production of more than 150 tons of fresh milk. Knight Dairy has established a long-term cooperative relationship with Mengniu Group . The self-produced organic raw milk is mainly sold to Mengniu for further processing into high-end organic liquid milk, and has a stable sales channel.
The dairy products and milk-containing beverage business is carried out through the subsidiary Baotou Knight. The products mainly include low-temperature fresh milk (pasteurized milk), low-temperature yogurt, normal temperature pure milk, milk powder, milk drinks and milk tea powder and other categories. The company currently has 15 liquid milk production lines and 8 milk powder production lines, with a daily processing capacity of 500 tons of fresh milk. In addition to its own brands, Knight Dairy also processes milk powder products for large dairy companies such as Mengniu and Yili.
financial data shows that Knight Dairy achieved operating income of 636 million yuan, 707 million yuan, and 876 million yuan in 2019, 2020, and 2021 respectively; it achieved net profits attributable to the owners of the parent company of 37.4118 million yuan, 22.8815 million yuan, 55.7272 million yuan.
In fact, this impact on the IPO of the Beijing Stock Exchange is not the first time that Knight Dairy has made capital efforts. As early as 2015, Knight Dairy listed on the New Third Board, achieving initial connection with the capital market.
Previously, Knight Dairy had entered the initial public offering of stocks and the guidance period for listing on the GEM. The coaching institution was Guorong Securities Co., Ltd. . In January 2022, Knight Dairy based on its own business model, business characteristics and future development plans. Change the plan of initial public offering of shares and listing on GEM to public offering of shares and listing on Beijing Stock Exchange.
Source: Knight Dairy, New Dairy
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