Core Viewpoint - The company, Kanghui Pharmaceutical Co., Ltd., has initiated arbitration against Lai Xinsheng for a remaining performance compensation of 266 million yuan due to unmet profit commitments from a previous acquisition [2][3]. Group 1: Acquisition Background - In September 2020, Kanghui acquired 51% of Shandong Youbang Biochemical Technology Co., Ltd. for 32.64 million yuan, with Lai Xinsheng promising minimum net profits of 5 million, 10 million, and 20 million yuan for the years 2021 to 2023 respectively [3]. - If the cumulative actual net profit from 2021 to 2023 fell below the promised amount of 35 million yuan, Lai Xinsheng was obligated to compensate Kanghui with a cash payment [3][4]. - An audit revealed that Shandong Youbang incurred a cumulative loss of 72.6377 million yuan from 2021 to 2023, resulting in a compensation claim of 269 million yuan from Lai Xinsheng [3][4]. Group 2: Financial Performance and Issues - As of June 2024, Kanghui had received 2.8 million yuan in performance compensation but still awaited 266 million yuan from Lai Xinsheng [4]. - Shandong Youbang was in a state of loss and had ceased operations since 2018 due to relocation requirements from government high-speed rail projects [4][5]. - Kanghui's subsidiary, Shaanxi Youbang, has not generated the expected returns and has been continuously losing money since its consolidation in October 2020 [5][6]. Group 3: Recent Developments - In September 2023, Shaanxi Youbang announced a complete shutdown of its production due to intensified market competition and declining sales margins [6]. - On October 30, 2023, Kanghui disclosed plans to apply for bankruptcy reorganization for Shaanxi Youbang to improve its financial structure and attract strategic investors [6][7]. - As of September 30, 2025, Kanghui reported receivables of 253 million yuan from Shaanxi Youbang, with a provision for bad debts of 121 million yuan, indicating potential unrecoverable debts [7]. Group 4: Overall Company Performance - Kanghui has faced consecutive years of losses, with revenues of 492 million yuan, 673 million yuan, and 562 million yuan from 2022 to 2024, alongside corresponding losses of 63.06 million yuan, 26.16 million yuan, and 89.63 million yuan [8]. - In the first three quarters of 2025, Kanghui's revenue declined by 12% to 356 million yuan, with a net loss of 133 million yuan, exacerbated by provisions for bad debts related to Shaanxi Youbang [9].

Core Viewpoint - The company, Kanghui Pharmaceutical Co., Ltd., has initiated arbitration against Lai Xinsheng for a remaining performance compensation of 266 million yuan, stemming from a previous acquisition that has led to significant financial losses and uncertainties regarding future profits [1][2][3] Group 1: Acquisition and Performance Compensation - In September 2020, Kanghui acquired 51% of Shandong Youbang Biochemical Technology Co., Ltd. for 32.64 million yuan, with performance guarantees from Lai Xinsheng for net profits of 5 million, 10 million, and 20 million yuan for the years 2021 to 2023 [2] - Following an audit, Shandong Youbang reported a cumulative loss of 72.6377 million yuan from 2021 to 2023, leading to a compensation claim of 269 million yuan from Lai Xinsheng [2][3] - As of now, Lai Xinsheng still owes Kanghui 266 million yuan in performance compensation, despite partial payments made through a third party [3] Group 2: Financial Performance and Losses - Kanghui has reported continuous losses over the years, with revenues of 492 million yuan, 673 million yuan, and 562 million yuan from 2022 to 2024, and corresponding losses of 63.06 million yuan, 26.16 million yuan, and 89.63 million yuan [8] - In the first three quarters of 2025, Kanghui's revenue declined by 12% to 356 million yuan, with a net loss of 133 million yuan, attributed to the write-off of receivables from its subsidiary, Shaanxi Youbang [8] Group 3: Operational Challenges - Shaanxi Youbang, a subsidiary of Kanghui, has faced operational difficulties, including a complete shutdown of production due to market competition and ongoing losses, leading to plans for bankruptcy restructuring to improve its financial situation [5][6] - The company has also made significant provisions for bad debts related to Shaanxi Youbang, totaling 121 million yuan, indicating a challenging financial outlook [6] Group 4: Corporate Changes - In September 2023, Kanghui underwent a change in control, with the major shareholder shifting from Shaanxi Kanghui Holdings to Jiaxing Yuehe Zhichuang Technology Partnership, which has implications for its strategic direction [7] - Following the change in control, the company rebranded from "Kanghui Pharmaceutical" to "Kanghui Co., Ltd." to better reflect its long-term development strategy [7]

本次会议是否有否决议案：无 2025年第三次临时股东会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 证券代码：603139 证券简称：康惠股份 公告编号：2025-076 陕西康惠制药股份有限公司 一、 会议召开和出席情况 (一)股东会召开的时间：2025 年 11 月 14 日 (二)股东会召开的地点：北京市昌平区超前路 17 号十纪科技大厦 10 层会议室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 77 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 35,278,937 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股份 | 39.2459 | | 总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 本次股东会由公司董事会召集，以现场和网络投票相结合的方式召开，现场 会议由公司董事长李红明先生主持。本次股东会的召集、召开和决策程 ...

北京市金杜律师事务所上海分所关于 陕西康惠制药股份有限公司 2025 年第三次临时股东会 之法律意见书 致：陕西康惠制药股份有限公司 北京市金杜律师事务所上海分所（以下简称本所）接受陕西康惠制药股份有 限公司（以下简称公司）委托，根据《中华人民共和国证券法》（以下简称《证券 法》）、《中华人民共和国公司法》（以下简称《公司法》）、中国证券监督管理委员 会《上市公司股东会规则》（以下简称《股东会规则》）等中华人民共和国境内（以 下简称中国境内，为本法律意见书之目的，不包括中国香港特别行政区、中国澳 门特别行政区和中国台湾省）现行有效的法律、行政法规、规章和规范性文件和 现行有效的《陕西康惠制药股份有限公司章程》（以下简称《公司章程》）有关规 定，指派律师出席并见证公司于 2025 年 11 月 14 日召开的 2025 年第三次临时股 东会（以下简称本次股东会），并就本次股东会相关事项出具本法律意见书。 为出具本法律意见书，本所律师审查了公司提供的以下文件，包括但不限于： 1. 经公司 2025 年第三次临时股东大会审议批准的《公司章程》； 2. 公司 2025 年 10 月 30 日刊登于巨潮资讯网、《中国证 ...

陕西康惠制药股份有限公司 关于业绩补偿事项申请仲裁的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 证券代码：603139 证券简称：康惠股份 公告编号：2025-075 重要内容提示： ● 案件所处的仲裁阶段：咸阳仲裁委员会已受理 ● 上市公司所处的当事人地位：仲裁申请人 ● 涉案的金额：26,629.42 万元及本案仲裁费用 ● 是否会对上市公司损益产生影响：鉴于案件尚未开庭审理，仲裁结果存 在不确定性，暂无法判断对公司本期或期后利润影响。 一、业绩补偿事项的基本情况 2020 年 9 月，公司以 3264 万元收购来新胜所持山东友帮生化科技有限公司 （以下简称"山东友帮"）51%的股权，来新胜承诺山东友帮 2021-2023 年度实现 的净利润（以扣除非经常性损益前后的净利润孰低值为准）分别不低于 500 万元、 1000 万元、2000 万元，在公司 2023 年度审计报告出具后，若山东友帮 2021 年 度至 2023 年度累计实际净利润数低于承诺净利润数（即 3500 万元），则由来新 胜一次性对公司进行现金 ...

Core Viewpoint - 康惠制药 is pursuing arbitration against 来新胜 for failing to meet profit commitments related to the acquisition of 山东友帮, with a significant compensation amount still owed [1] Summary by Relevant Sections Acquisition Details - 康惠制药 acquired 51% of 山东友帮 from 来新胜 for 32.64 million yuan in September 2020 [1] - 来新胜 committed to a cumulative net profit of no less than 35 million yuan from 2021 to 2023 [1] Performance and Compensation - 山东友帮 did not meet the promised performance, leading to a compensation obligation of 269 million yuan from 来新胜 [1] - As of now, 来新胜 still owes 266 million yuan after paying 2.8 million yuan in compensation [1] Legal Proceedings - 康惠制药 has applied for arbitration with the 咸阳仲裁委, which was accepted on November 13 [1] - The case has not yet gone to court, making it difficult to assess the impact on the company's profits [1]

Core Viewpoint - Kanghui Co., Ltd. has shown a significant stock price increase of 64.07% year-to-date, indicating strong market interest and potential growth in the pharmaceutical sector [2]. Financial Performance - As of September 30, Kanghui Co., Ltd. reported a revenue of 356 million yuan, a year-on-year decrease of 11.97%, and a net profit attributable to shareholders of -133 million yuan, reflecting a substantial decline of 246.07% [2]. - The company has cumulatively distributed 54.23 million yuan in dividends since its A-share listing, with no dividends paid in the last three years [3]. Stock Market Activity - The stock price of Kanghui Co., Ltd. rose by 2.04% on November 11, reaching 23.56 yuan per share, with a trading volume of 23.57 million yuan and a turnover rate of 1.01% [1]. - The stock has appeared on the "Dragon and Tiger List" five times this year, with the most recent instance on June 16, where it recorded a net purchase of 7.7 million yuan [2]. Shareholder Information - As of September 30, the number of shareholders for Kanghui Co., Ltd. was 9,458, a decrease of 21.15% from the previous period, while the average circulating shares per person increased by 26.82% to 10,560 shares [2]. Business Overview - Kanghui Co., Ltd., established on December 24, 2009, and listed on April 21, 2017, is primarily engaged in the research, development, production, and sales of traditional Chinese medicine, with its main business revenue composition being 60.68% from pharmaceutical manufacturing and 36.79% from pharmaceutical distribution [2]. - The company operates within the pharmaceutical and biotechnology sector, specifically in the traditional Chinese medicine sub-sector [2].

股票简称：康惠股份 股票代码：603139 2025 年第三次临时股东会 会议资料 陕西康惠制药股份有限公司 康惠股份 2025 年第三次临时股东会会议资料 目 录 | 2025 | 年第三次临时股东会会议须知 - | 1 | - | | --- | --- | --- | --- | | 2025 | 年第三次临时股东会会议议程 - | 3 | - | | 2025 | 年第三次临时股东会会议议案 - | 4 | - | | 议案一 | 关于对应收款项单项计提坏账准备的议案 | - 4 | - | 康惠股份 2025 年第三次临时股东会会议资料 陕西康惠制药股份有限公司 2025 年第三次临时股东会会议须知 2025 年 11 月 为维护全体股东的合法权益，确保股东会的正常秩序和议事效率，保证股东会的顺利进 行，根据《公司法》、《公司章程》及公司《股东会议事规则》等法律法规的有关规定，特制 定本须知，请出席股东会的全体人员遵照执行。 一、本次会议期间，全体出席会议人员应以维护股东合法权益，确保会议正常进行，提 高议事效率为原则，认真履行法定义务。 二、为保证本次会议的严肃性和正常秩序，切实维护股东的合法权益 ...

Core Points - The company announced an increase in capital for its wholly-owned subsidiary, Beijing Kanghui Zhichuang Technology Co., Ltd., amounting to RMB 90 million [2] - Following the capital increase, the registered capital of the subsidiary will rise from RMB 10 million to RMB 100 million [2] - The company will maintain 100% ownership of the subsidiary after the capital increase [2]

证券代码：603139 证券简称：康惠股份 公告编号：2025-074 陕西康惠制药股份有限公司 关于全资子公司完成工商变更登记的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 陕西康惠制药股份有限公司（以下简称"公司"）于 2025 年 10 月 29 日召开 了第六届董事会第三次会议，审议通过了《关于向全资子公司增资的议案》，同 意公司以自有或自筹资金的方式向北京康惠智创科技有限公司（以下简称"康惠 智创"）增资人民币 9,000 万元。本次增加注册资本后，公司仍直接持有康惠智 创 100%股权。具体内容详见公司在上海证券交易所网站（www.sse.com.cn）披 露的《关于向全资子公司增资的公告》（公告编号：2025-067）。 近日，康惠智创就上述增资事宜向北京市朝阳区市场监督管理局申请办理了 工商变更手续，并取得了北京市朝阳区市场监督管理局换发的《营业执照》，注 册资本由人民币 1,000 万元变更为人民币 10,000 万元。除前述注册资本变更外， 康惠智创其他登记事项均未发生变更。变更后的登记信息如下： ...