康华生物易主 万可欣生物取得控股权

Group 1 - The core point of the news is the accelerated pace of capital integration, with Kanghua Biological's major shareholder transferring a significant stake to Wankexin Biological, resulting in a change of control [1][2] - Kanghua Biological's major shareholder, Wang Zhentao, and his associates plan to transfer a total of 28.4666 million shares, representing 21.91% of the total share capital, for approximately 1.851 billion yuan at a price of 65.03 yuan per share [1][2] - Following the transfer, Wankexin Biological will hold 29.99% of the voting rights in Kanghua Biological, effectively making it the new controlling entity, while Wang Zhentao will retain 8.08% of the shares without control [1] Group 2 - Wankexin Biological will finance the acquisition through a combination of self-owned funds (700 million yuan) and bank loans (1.15 billion yuan), with a loan term of no less than 7 years [2] - The repayment of the acquisition loan is expected to come from contributions from Shanghai Biomedical M&A Private Equity Fund and Shanghai Pharmaceutical Group, along with Wankexin Biological's legal earnings [2] - Kanghua Biological has committed to a net profit of no less than 728 million yuan for the years 2025 and 2026, along with a minimum of 260 million yuan in R&D expenses during the same period [2] Group 3 - Kanghua Biological is engaged in the human vaccine business, with registered products including rabies vaccines and meningococcal polysaccharide vaccines, and is developing a six-valent norovirus vaccine [3] - The vaccine industry has seen significant changes since 2021, leading to a decline in Kanghua Biological's profits, although it remains profitable, with an estimated net profit of around 400 million yuan in 2024 [3] - Wankexin Biological's acquisition is based on recognizing the intrinsic value of Kanghua Biological and its future growth prospects in the industry [3]