Jiangsu wuzhong(SH:600200) Sou Hu Cai Jing·2025-07-23 08:58Core Viewpoint - Jiangsu Wuzhong is facing a significant setback due to the unilateral termination of its exclusive agency rights for the AestheFill product by Regen Biotech, which the company claims is an act of "malicious breach of contract" by its partner Aimeike [2][8]. Group 1: Agency Dispute - Jiangsu Wuzhong's subsidiary, Datuo Medical, received a termination notice from Regen Biotech regarding the exclusive distribution agreement for AestheFill [2][4]. - Regen Biotech alleges that Datuo Medical violated the agreement by transferring the agency rights to its parent company, Jiangsu Wuzhong Meisheng Biotechnology [4]. - The termination has led to Regen Biotech refunding payments for undelivered orders, further complicating Jiangsu Wuzhong's financial situation [2]. Group 2: Financial Impact - AestheFill, known as the "童颜针" (youthful needle), was a key product for Jiangsu Wuzhong, contributing significantly to its revenue and profit [13]. - In 2024, Jiangsu Wuzhong reported a revenue of 1.599 billion, with AestheFill sales accounting for 326 million, representing 20.42% of total revenue [13]. - The loss of exclusive agency rights could drastically reduce Jiangsu Wuzhong's income and profit, as AestheFill was a major driver of its financial recovery [13]. Group 3: Company Performance and Challenges - Jiangsu Wuzhong has struggled with poor financial performance, reporting losses in multiple years since 2018 [11]. - The company is also facing potential delisting due to significant financial irregularities, including inflated revenues and profits from 2020 to 2023 [14]. - The stock price of Jiangsu Wuzhong has declined by 4.71%, closing at 1.62 yuan, reflecting investor concerns over its financial stability [14].