PKU HealthCare (SZ:000788) Mei Ri Jing Ji Xin Wen·2025-05-10 04:04Core Viewpoint - The board of North China Pharmaceutical (000788.SZ) has proposed to remove director Mao Run due to his resignation from Southwest Synthesis Pharmaceutical Group, which he opposed, citing legal grounds for his dismissal [1][2][4]. Group 1: Board Changes - Mao Run was proposed to be removed from the board as he no longer represents Southwest Synthesis due to his resignation from executive roles [2][3]. - The board voted to remove Mao Run with 8 votes in favor and 1 against, highlighting a significant shift in board composition following the change in actual control of the company [2][6]. - The newly elected non-independent director is Huang Lianjun, who has connections to the new controlling shareholder [3][4]. Group 2: Changes in Control - The actual control of North China Pharmaceutical changed hands in December 2023 when New Advantage acquired 100% of Southwest Synthesis from the Ping An Group [4][5]. - Following the acquisition, there have been multiple personnel changes within the board, indicating a strategic shift under new management [6][7]. - The new controlling entity has maintained a consistent operational strategy despite changes in ownership, focusing on core pharmaceutical areas [7][8]. Group 3: Financial Performance - North China Pharmaceutical's revenue from pharmaceutical distribution increased to nearly 70% in 2024, reflecting a strategic focus on this segment [8]. - The company's revenue decreased from 2.237 billion yuan in 2021 to 2.060 billion yuan in 2024, while net profit rose from 43.14 million yuan to 138 million yuan during the same period, marking a historical high [7][8].