on november 16, 014, our company in the north boya hotel held a press conference, announced plans in 3.822 billion to ningxia eppen biotech of all the shareholders non-public shares and pay cash to buy its total holdings of the ningxia eppen biotech 100% stake. the transaction is completed, ningxia eppen biotech will officially become a wholly owned subsidiary of our company. this means that the meihua will be done again a historic leap, truly become an international giant amino acids, will occur in promoting global amino acid industry play an important role in the process of revolutionary change.
this caught the attention of the height of the industry and capital, from trust funds, securities companies, the financial media of nearly 200 people attended the conference, meihua biology, ningxia eppen biotech,zhong zhi capital lead chairman top management team participation scene conversation. shen yin wan guo securities research institute chen xiaosheng, a researcher at the chinese academy of sciences institute of microbiology wen tingyi, chairman of the china fermentation industry association shi weizhen etc, experts and scholars talk about at the meeting in enterprise mergers and acquisitions and macro economy, and the analysis of the status quo of biological fermentation industry and future prospects.
in the first half of last year, the amino acid market celebrated a major reshuffle. in such a market environment, the lack of funds, ningxia eppen biotech l put to survive in the first, it is difficult to consider in research and development and environmental protection. after the two companies respectively with research and development team, cooperation research and development strength will be more powerful, the synergistic effect of market will be better. after the merger, through the communication can complement each other, learn from each other, more conducive to improve the overall competitiveness of enterprises.
our company meng qingshan, chairman of the analysis, meihua and ningxia eppen biotech of cooperation with the product will bring a more objective and rational to industry profits.to ningxia eppen biotech notification, current liabilities on the high side, through the meihua biotech l operation of listed companies, the financial cost of the future will fall a large; for the meihua biotech, acquired from ningxia eppen biotech, can not only optimize the product structure, enhance amino acid products market impact, can also speed up the western market, improve enterprise profit model, improve the quality of development.
in 16 agenda in the afternoon, our company senior management team from banks, securities companies, trust fund managers for investors. around the scene of the meihua biotech and ningxia eppen biotech combined capacity, sales channels, industry layout, the future development trend of industry, our company executives gave a detailed explanation and answering to let investors get the most authoritative, the most real enterprise information, for its next to me offer reference for the company's investment behavior.
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