中国经济网北京9月25日讯盟科药业(688373.SH)今日收报8.61元，跌幅10.96%。 光大证券股份有限公司研究员王明瑞、叶思奥9月23日发表研报《盟科药业-U(688373)：海鲸药业十亿 元定增控股助力研发销售生产全链条》称，维持公司"买入"评级。 ...

Group 1 - The stock prices of Mengke Pharmaceutical dropped over 10% [1] - Borui Pharmaceutical and Baicheng Pharmaceutical experienced declines of over 7% [1] - Other companies such as Yuekang Pharmaceutical, Kangchen Pharmaceutical, Yuandong Biological, and Fuxiang Pharmaceutical also saw significant drops in their stock prices [1]

Group 1 - Shengke Communication's shareholding by the National Integrated Circuit Industry Investment Fund has decreased from 19.6% to 15% after a total reduction of 18.8569 million shares [1] - Guoxin Technology plans to reduce its shares by up to 4.5% through various trading methods between September 30, 2025, and December 29, 2025 [1][2] - Jingzhida has delivered its first high-speed testing machine to a key domestic customer, aimed at semiconductor memory testing [4][5] Group 2 - Nanxin Pharmaceutical's shareholder plans to reduce shares by up to 3%, totaling 823.2 million shares, due to funding needs [6] - *ST Taihe's shareholder intends to reduce shares by up to 3% for operational management needs [7] - Xincheng Technology's shareholders and directors plan to reduce shares by up to 2.03% due to personal funding needs [8] Group 3 - Huati Technology is planning to acquire shares of Huayi Microelectronics, leading to a stock suspension due to uncertainties [9] - Ruima Precision's subsidiary has received a project notification with a total lifecycle sales estimate of approximately 5.56 billion yuan [10] - Guoguang Electric's shareholders plan to reduce shares by up to 3.85% through various trading methods [10] Group 4 - Cangge Mining's shareholder plans to reduce shares by up to 0.6% due to funding needs [11] - Jujiao Co., Ltd. intends to reduce shares by up to 3% due to personal funding arrangements [12] - Maqu'er plans to reduce shares by up to 2% due to funding needs [13] Group 5 - Caesar Travel's subsidiary intends to acquire 100% equity of Qingdao Hansa for 16 million yuan [14] - Xinde New Materials' shareholders plan to reduce shares by up to 3% through various trading methods [15] - Huadong Heavy Machinery's shareholders plan to reduce shares by up to 1.5% [16] Group 6 - Zhejiang Zhongcheng's shareholder plans to reduce shares by up to 3% due to personal funding needs [17] - Huaxi Securities' shareholder plans to reduce shares by up to 1% due to liquidity needs [18] - Ameng Pharmaceutical's major shareholder opposes the introduction of a strategic investor due to concerns over financial strength and compliance [19] Group 7 - *ST Rindong plans to invest 100 million yuan in Jiangyuan Technology, with a post-investment shareholding of 4.14% [20][21] - International Industry plans to issue shares to its controlling shareholder to raise no more than 662 million yuan for working capital [22][23]

Market Overview - On September 25, A-shares opened slightly lower, with the three major indices collectively in the red [1] - The Shanghai Composite Index decreased by 0.06%, the Shenzhen Component Index fell by 0.30%, and the ChiNext Index dropped by 0.45% [2] Sector Performance - The non-ferrous metals, media, electric equipment, and pharmaceutical sectors showed notable gains, with the nuclear fusion and copper industries being particularly active [2][4] - The nuclear fusion sector rose by 2.67%, while the copper industry increased by 2.63% [4] Copper Industry Insights - The copper industry index led the gains, with companies like Jingyi Co., Northern Copper, and Luoyang Molybdenum hitting the daily limit [8] - A recent landslide at Freeport McMoRan's Grasberg mine in Indonesia has raised global copper prices and sparked supply chain concerns, as this mine accounts for approximately 3% of global copper supply [9][10] Nuclear Fusion Sector Developments - The nuclear fusion concept stocks collectively surged, with companies like Hezhong Intelligent and Farsen hitting the daily limit, and others like Shanghai Electric and Baoli Electric also seeing significant increases [10][11] - China Fusion Energy Co., known as the "national team" for controllable nuclear fusion, is focusing on overall design, technology verification, and digital R&D [14] Company Specifics - On September 25, the stock of Upwind New Materials surged to a limit of 20%, reaching a price of 132.1 CNY per share, with a total market value of 53.3 billion CNY [15][16] - The company recently completed a share transfer, changing its controlling shareholder to Zhiyuan Hengyue, with plans for a tender offer to acquire an additional 37% of shares at a price of 7.78 CNY per share [18]

Core Viewpoint - The capital increase plan by Amgen Pharmaceuticals (688373.SH) aims to raise 1.033 billion yuan by issuing 164 million shares at 6.3 yuan each, which will not only meet funding needs but also change the equity structure, making Nanjing Haiqing Pharmaceuticals the controlling shareholder with a 20% stake [1][2]. Group 1: Capital Increase and Shareholder Dynamics - The capital increase will address the company's funding requirements and alter the shareholder structure, with Haiqing Pharmaceuticals becoming the new controlling entity [1]. - The opposition from board member Zhao Yachao and Genie Pharma, the largest external shareholder, indicates significant internal conflicts regarding the capital increase [2][3]. - The actual control of Genie Pharma lies with Yang Zhi, who is also linked to Baio Weida, suggesting a complex web of interests that may influence the decision-making process [2][3]. Group 2: Strategic Implications of the Capital Injection - The capital injection is expected to cover operational cash flow needs for over two years, directly supporting the development and commercialization of key drug candidates like MRX-4, MRX-5, and MRX-8 [4][7]. - Amgen's core competitiveness is rooted in its well-structured pipeline, focusing on innovative antibiotics for drug-resistant infections, with a strong emphasis on research and international clinical trials [5][6]. - The partnership with Haiqing Pharmaceuticals is anticipated to enhance Amgen's operational capabilities, transitioning the company from a research-driven model to a more integrated research-production-sales approach [5][6][9]. Group 3: Future Growth and Market Position - The collaboration is expected to yield significant commercial benefits, with projected sales revenues of 260 million, 388 million, and 600 million yuan from 2026 to 2028, indicating a doubling of sales over three years [6][7]. - The integration of Haiqing's resources is likely to optimize production processes and reduce costs, enhancing overall efficiency [6][7]. - The capital increase and strategic partnership mark a pivotal moment for Amgen, potentially leading to a shift in valuation from pipeline-based to performance-based metrics [7][8][10].

Core Viewpoint - The largest shareholder of Amgen Pharmaceuticals, Genie Pharma, has initiated a strong counteraction by proposing the removal of the chairman and two other directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [1][3]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions, including a proposed capital increase, at the upcoming shareholder meeting scheduled for 2025 [1]. - Genie Pharma has proposed to remove ZHENGYU YUAN (袁征宇) and two other directors, citing their failure to fulfill their responsibilities and protect shareholder interests [3][11]. - The proposed new directors include individuals currently associated with BioVeda, a significant stakeholder in Genie Pharma [13]. Group 2: Financial Performance - Amgen Pharmaceuticals has reported significant financial losses since its inception, with cumulative losses exceeding 1.3 billion yuan from 2021 to 2024 [3]. - The company's revenue has shown growth, reaching 130 million yuan in 2024, but net profit losses have also increased, with losses of 441 million yuan reported for the same year [3]. - The company's cash flow from operations has been negative for several consecutive years, indicating ongoing financial distress [3][6]. Group 3: Corporate Governance Issues - Genie Pharma has raised concerns about the management's capabilities, stating that the company is at risk of delisting due to its high debt ratio of approximately 60% and a significant decline in net assets since its IPO [6]. - The company has faced delays in its IPO fundraising projects, which has adversely affected its operational performance [6][7]. - There are allegations of poor judgment regarding strategic partnerships, particularly with Haiqing Pharmaceuticals, which has faced regulatory penalties [8][9][10].

Core Viewpoint - The largest shareholder of Amgen Pharmaceuticals, Genie Pharma, has initiated a strong counteraction by proposing the removal of the chairman and three directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [2][6]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions at the extraordinary general meeting scheduled for 2025, including a proposed capital increase [2]. - Genie Pharma has proposed to remove ZHENGYU YUAN (the current chairman and general manager) and three other directors, while nominating three new candidates for the board [2][6]. - The company has been without a controlling shareholder or actual controller since its listing in August 2022, with Genie Pharma and Amgen Hong Kong being the two largest shareholders [2][17]. Group 2: Financial Performance - Amgen Pharmaceuticals has faced significant financial challenges, with net cash flow from operating activities showing negative figures from 2022 to mid-2025, totaling -2.4 billion, -3.29 billion, -4.47 billion, and -1.21 billion respectively [6]. - The company's revenue has increased over the years, but net profit losses have also expanded, with cumulative losses exceeding 1.3 billion from 2021 to 2024 [6]. - As of June 2025, the company's asset-liability ratio reached approximately 60%, and its net assets have decreased by 74.19% since its listing [9]. Group 3: Governance Issues - Genie Pharma criticized ZHENGYU YUAN for failing to fulfill his responsibilities, leading to long-term losses and the risk of delisting [6][9]. - The company has experienced significant delays in the progress of its IPO fundraising projects, which has adversely affected its operations [10]. - There are concerns regarding the strategic investment choices made by the company, particularly in relation to its collaboration with Haiqing Pharmaceuticals, which has faced regulatory penalties [12][14].

Core Viewpoint - Genie Pharma, the largest shareholder of Amgen Pharmaceuticals, has initiated a strong counteraction by proposing the removal of the chairman and two other directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [1][6]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions, including a capital increase proposal, at the upcoming shareholder meeting scheduled for 2025 [1]. - The proposal includes the removal of ZHENGYU YUAN (Yuan Zhengyu), the current chairman and general manager, along with two other directors, and the election of three new directors [1][6]. - Genie Pharma's actions are a response to perceived failures in governance and management, particularly regarding the company's financial performance and operational decisions [6][12]. Group 2: Financial Performance - Amgen Pharmaceuticals has reported significant financial losses since its IPO, with cumulative losses exceeding 1.3 billion yuan from 2021 to 2024 [6][9]. - The company's revenue has shown growth, from 7.66 million yuan in 2021 to 130 million yuan in 2024, but net profit losses have also increased, reaching 441 million yuan in 2024 [6][9]. - As of June 2025, the company's asset-liability ratio has risen to approximately 60%, with net assets declining by 74.19% since its listing [9]. Group 3: Strategic Concerns - Genie Pharma has raised concerns about the delayed progress of IPO fundraising projects, which has hindered the company's operational expectations [9]. - The company has faced challenges in meeting financing conditions, leading to a loss of financing capabilities [9]. - There are concerns regarding the strategic partnership with Haiqing Pharmaceuticals, which has faced regulatory penalties, raising questions about compliance and business viability [10][12].

Core Viewpoint - Mengke Pharmaceutical plans to issue shares to Haiqing Pharmaceutical to raise no more than 1.033 billion yuan, but faces opposition from a board member and the largest shareholder, indicating potential management and shareholder conflicts [2][6][7] Financial Performance - Mengke Pharmaceutical has been experiencing long-term losses, with revenues of 48 million yuan in 2022, 91 million yuan in 2023, and projected 130 million yuan in 2024, while net losses were 220 million yuan, 421 million yuan, and 441 million yuan respectively [3] - In the first half of 2025, the company reported revenues of 66.97 million yuan and a net loss of 139 million yuan [3] Product Overview - The core product, Contizolam Tablets, is used for treating complex skin and soft tissue infections, generating 66.97 million yuan in revenue in the first half of 2025, a year-on-year increase of 10.26% [3] - Other products are in preclinical stages, focusing on indications for anti-infection, oncology, and nephrology [4] Production and Collaboration - Mengke Pharmaceutical lacks production capabilities and outsources the manufacturing of Contizolam Tablets to Huahai Pharmaceutical [4] - The company aims to use the funds raised for research and commercialization projects, particularly in the field of antibiotic resistance [5] Shareholder and Board Dynamics - The largest shareholder, Genie Pharma, holds 10.92% of shares and plans to vote against the stock issuance, citing concerns over the fairness and necessity of the transaction [2][6] - Board member Zhao Yachao voted against the issuance, raising issues about the lack of thorough investigation and the broad use of raised funds [6][7] Strategic Implications - If the issuance proceeds, Haiqing Pharmaceutical will become the controlling shareholder with a 20% stake, potentially leading to changes in the company's strategic direction [6] - The management believes that partnering with Haiqing Pharmaceutical aligns with the company's interests despite the opposition [7]

北京商报讯（记者 丁宁）9月25日，盟科药业（688373）盘中股价大跌，一度跌逾7%。截至北京商报 记者发稿，盟科药业报8.95元/股，跌幅为7.45%。 消息面上，盟科药业发布公告称，股东Genie Pharma作为征集人，就公司拟于10月9日召开的2025年第 二次临时股东大会审议的有关议案向公司全体股东征集投票权。公告显示，Genie Pharma对盟科药业 2025年第二次临时股东大会所审议议案除议案9外均投反对票，包括《关于公司向特定对象发行股票方 案的议案》等。截至征集公告披露日，征集人Genie Pharma合计持有公司股份数量7157.28万股，均为有 表决权股份，占公司股份总数的10.92%，为公司第一大股东。 ...