Core Viewpoint - Huaren Pharmaceutical Co., Ltd. is facing significant financial challenges, including a major loss attributed to credit impairment losses related to receivables from Guoyao Medicinal Materials Co., Ltd. [1][4] Group 1: Shareholder Actions - Huaren Century Group, a major shareholder, plans to reduce its stake in Huaren Pharmaceutical by up to 1% between June 24, 2025, and September 23, 2025, amounting to no more than 11,822,100 shares [1][2] - Huaren Century Group's shareholding has decreased from 53% in 2014 to 7.9% currently, following multiple rounds of share reductions [2][3] - Red Tower Innovation Investment Co., Ltd., the third-largest shareholder, has also been reducing its holdings, having sold 23,619,960 shares for a total of 74.16 million yuan from August 22, 2024, to April 29, 2025 [2] Group 2: Financial Performance - Huaren Pharmaceutical reported a net loss of 1.368 billion yuan for 2024, marking the worst performance since its listing in 2010, effectively erasing all profits accumulated over 13 years [3][4] - The company has cumulatively achieved a net profit of 1.197 billion yuan from 2010 to 2023, indicating that the loss in 2024 surpassed all previous profits [3] Group 3: Credit Impairment and Debt Recovery - The significant loss is primarily due to the full credit impairment of receivables amounting to 1.3478 billion yuan owed by Guoyao Medicinal Materials [4][6] - Huaren Pharmaceutical's subsidiary, Qingdao Huaren Pharmaceutical Co., Ltd., had established a business relationship with Guoyao Medicinal Materials, resulting in 1.41 billion yuan in receivables [4][5] - A repayment agreement was signed in January 2024, allowing Guoyao Medicinal Materials three years to settle the debt, but the execution of this agreement remains uncertain [6] Group 4: Guoyao Medicinal Materials' Issues - Guoyao Medicinal Materials is not controlled by the state-owned China National Pharmaceutical Group, despite its name, and has faced various operational issues [5][6] - The company has multiple enforcement actions against it, totaling 106 million yuan, and has been subject to numerous restrictions and judgments [6]
华仁药业再遭股东减持,公司去年亏损13.68亿元