新诺威终止并购石药百克，石药资本布局遇挫

Core Viewpoint - The planned acquisition of Shiyao Group Baike by XinNuoWei has been terminated after over a year of planning due to changes in the pharmaceutical industry and capital market environment, which affected the long-term interests of shareholders [1][4]. Group 1: Acquisition Details - XinNuoWei intended to acquire 100% equity of Shiyao Baike for a transaction price of 7.6 billion yuan and planned to raise supporting funds by issuing shares to no more than 35 specific investors [4]. - The decision to terminate the acquisition was made after thorough discussions and considerations regarding the prolonged planning period and the associated risks due to market changes [4][5]. Group 2: Market Reaction - Following the announcement of the termination, XinNuoWei's stock opened down 13.21% at 35.66 yuan per share, with a drop exceeding 15% during trading, ultimately closing at 39.6 yuan, down 3.63%, resulting in a total market capitalization of 55.62 billion yuan [4][5]. Group 3: Company Performance - XinNuoWei's performance has been under pressure, with a reported revenue of 472 million yuan in Q1 2025, a year-on-year decline of 9.94%, and a net profit loss of 26.9 million yuan, marking a shift from profit to loss compared to the previous year [5][6]. - The decline in net profit is attributed to a significant increase in R&D expenses at Jushi Bio and a decrease in revenue from functional raw materials due to fluctuations in caffeine prices [6].