After four price cuts, Sharp Ass finally divested its proprietary Chinese medicine business for 82 million yuan

After several price cuts, on April 10, the transfer of the wholly-owned subsidiary Qiangshen Pharmaceutical Co.

The transfer process can be described as a twists and turns, but it can also be seen that Sharp Ass' determination to spin off the proprietary Chinese medicine business——

· From December 11, 2020 to December 17, 2020, the initial public listing and transfer of 100% equity of Qiangshen Pharmaceutical, with a reserve price of 195,428,100 yuan.

· From December 22, 2020 to January 5, 2021, the reserve price will be adjusted to RMB 136,799,700.

· From January 12, 2020 to January 25, 2021, the reserve price was reduced to RMB 117,256,900.

· From January 28, 2021 to February 9, 2021, the reserve price of the listing was lowered again to RMB 97,714,100.

From March 25, 2021 to April 8, 2021, the entire equity was finally transferred to Jilin Province Yueshi Tianbo Pharmaceutical Co.

The strong body pharmaceutical industry that carries hope

Qiangshen Pharmaceutical was established in 2014.

In November 2015, Sharpaisi and Jilin Dongfeng Pharmaceutical Co.

Dongfeng Pharmaceutical also promised in the equity transfer agreement that Qiangshen Pharmaceutical will achieve at least 10 million yuan, 30 million yuan and 50 million yuan in net profits from 2016 to 2018.

At that time, Sharp Ass was full of confidence and believed that after the completion of the acquisition, the company would develop simultaneously in the fields of traditional Chinese medicine and western medicine, and its profitability would continue to increase.

However, the fact is that Qiangshen Pharmaceutical has never reached a performance promise.

From 2019 to the first half of 2020, Qiangshen Pharmaceutical achieved net profits of -43.

Sharp Ass Downhill Road

Eye drops are the core product of Sharp Aisi, which contributes most of the company's performance.

Then, this situation failed to continue.

Although Sharp Aisi has issued a clarification announcement: the company believes that 0.

In January 2021, Sharp Aisi issued a performance pre-loss announcement that, after preliminary calculations by the company's financial department, the company expects a loss of 136 million to 170 million yuan in 2020, and a profit of 7.

In fact, Sharpeith also started the consistency evaluation of bendal lysine eye drops in 2016, but the progress was not smooth.

As Sharp Ass once stated in the third quarterly report of 2020: “The consistency evaluation of the quality and efficacy of bendalysine eye drops may not be completed within three years according to the requirements of the State Food and Drug Administration; or there is a company application.
Delayed completion of the consistency evaluation related work may fail; or although the consistency evaluation of the quality and efficacy of bendah lysine eye drops has been completed and reported to the Drug Evaluation Center of the State Food and Drug Administration, there are also cases that have not passed the State Food and Drug Administration Risk of review and approval.
In the event of the above circumstances, the company’s bental lysine eye drops drug approval number may be cancelled or will not be re-registered after expiration, which will cause the product to be unable to continue to be produced and sold.
Acid eye drops are the company’s core product.
If the company cannot continue to produce and sell bendal lysine eye drops, it will have a major impact on the company’s production and operation.
"

However, after a few years, Sharp Aisi still seems to have not completely emerged from the shadow of the "magic drug" incident.
In the announcement of the listing and transfer, Sharp Aix once stated: Due to reports about Sharp Aix’s self-media incidents, Sharp Aix’s brand reputation has been negatively affected, and the relevant marketing plan has not been implemented as originally planned.
As a result, the sales volume of proprietary Chinese medicine products has fallen sharply, coupled with the impact of the new crown epidemic and the limited subsequent sales expenses, (Qiangshen Pharmaceutical) is expected to continue to lose money in the coming years.

The actual controller cashed out and left, Putian entered the main

In fact, it doesn't stop there that makes Sharpe Sis on the cusp.

On February 27, 2020, Sharp Aisi issued an announcement stating that the original controller Chen Dekang had signed the "Share Transfer Agreement" and transferred 70,966,700 shares (accounting for 7.
24% of the company's total shares) to Shanghai Yanghe Shanghai Yihe Medical Management Co.
, Ltd.
("Yihe Medical"), a wholly-owned subsidiary of Investment Management Co.
, Ltd.
("Yihe Investment"), promised to irrevocably give up the remaining 21.
73% of the company's shares.
right to vote.
At the same time, Chen Dekang will also transfer his 17.
5242 million shares of the company (accounting for 5.
43% of the company's total shares) to Yihe Medical or its designated transferee in 2021.

What is the background of raising and investing? It is reported that the company was established on June 23, 2015, the legal representative and major shareholder are Lin Hongli (holding 70%), and the second shareholder is Lin Hongyuan (holding 30%).
As a result, the controlling shareholder of Sharp Aisi changed, and the actual controller of the company was changed to the Lin brothers, both of whom were the sons of Lin Chunguang of the Putian family.

On September 29 of the same year, Sharp ACE announced again that it planned to acquire Shanghai Yuxie Medical Management Co.
, Ltd.
("Yuxie Management") and Shanghai Xiehe Hospital Investment Management Co.
, Ltd.
("Xiehe" for 502 million cash payments).
Investment") 100% equity of Taizhou Women and Children's Hospital held in total.
The shareholders of Taizhou Women's and Children's Hospital, Yuxie Management and Xiehe Investment, are the companies controlled by the actual controllers Lin Hongli and Lin Hongyuan, the actual controllers of Sharp Aixian.
This transaction constitutes a connected transaction.

The next day, Sharp Aix received an inquiry letter from the Shanghai Stock Exchange, requesting it to supplement the disclosure of the synergy and difficulty of integration between the target company’s business and the existing business, and whether the payment arrangement for the consideration of the transaction caused financial pressure on the company’s normal production and operation, etc.
matter.
On October 12, the Zhejiang Securities Regulatory Bureau also issued an inquiry letter to it, requesting whether the actual controller has other controlled hospitals and whether the business engaged in is in a competitive relationship with Taizhou Hospital, and the Taizhou Hospital was merged into Sharp Will it lead to competition in the same industry?

.
.
.

Falling into the altar, changing the ownership of the Putian system, divesting the loss-making assets.
.
.
After a series of events, I don't know what kind of future Sharp Aisi is waiting for.

Reference materials:

Beijing Business Daily: performance pressure of Sharp Aisi five selling Qiangshen Pharmaceutical

Jiemian News: Sharp Acquires the "Putian Department" Hospital of the Real Controller, which is not profitable but has a substantial premium