SPAS(SH:603168) 2 1 Shi Ji Jing Ji Bao Dao·2025-05-13 13:40Core Viewpoint - The company Shapais (603168.SH) announced the transfer of 100% equity of its wholly-owned subsidiary, Zhejiang Shapais Pharmacy Chain Co., Ltd. to Jiaxing Wanshoutang Pharmaceutical Chain Co., Ltd. for a cash consideration of 500,000 yuan, primarily due to continuous losses and a strategic misalignment of the subsidiary's main business [2][5]. Group 1 - The subsidiary Shapais Pharmacy operates 12 medical insurance stores, and the transfer price includes the licenses, renovations, inventory, and other related assets [5]. - Shapais reported significant financial pressure, with 2023 revenue at 645 million yuan and a net profit decline of 43.9% to 25 million yuan; projected 2024 revenue is expected to drop by 24.96% to 484 million yuan, with a net loss of 121 million yuan, a staggering decline of 583.96% [5]. - The company aims to focus on its core business, optimize asset structure, and improve cash flow through this transfer [5][6]. Group 2 - As of the disclosure date, Wanshoutang Pharmaceutical has paid the first installment of the equity transfer amounting to 300,000 yuan, and the necessary business registration changes have been completed [6]. - Following the completion of this transaction, Shapais will no longer hold any equity in Shapais Pharmacy, and it will be excluded from the company's consolidated financial statements [6].