SHYNDEC(SH:600420) Zheng Quan Zhi Xing·2025-07-30 16:13Transaction Overview - Shanghai Modern Pharmaceutical Co., Ltd. plans to publicly transfer 51% equity of its subsidiary, Shanghai Modern Harsen (Shangqiu) Pharmaceutical Co., Ltd. (referred to as Guoyao Harsen), with a base price of RMB 155.192541 million [1][2] - The transaction does not constitute a major asset restructuring and is subject to uncertainties regarding the transaction object, price, and timing [1][2] Transaction Details - The transfer will be conducted through the Shanghai United Assets and Equity Exchange, and the final buyer is yet to be determined [2] - Guoyao Harsen was established on November 12, 1999, with a registered capital of RMB 83.29 million, and its business scope includes the production and sale of pharmaceuticals, disinfectants, health foods, and more [2] Financial Performance - As of April 30, 2025, Guoyao Harsen reported total assets of RMB 339.1778 million, total liabilities of RMB 187.15 million, and a net loss of RMB 19.898 million [3][4] - The net asset value of Guoyao Harsen was RMB 152.0278 million, with an assessed value of RMB 304.2991 million, indicating a 100.16% increase in value [4] Strategic Implications - The divestiture aims to enhance the company's focus on core areas, optimize asset structure, and improve operational efficiency, as Guoyao Harsen has faced continuous operational pressure and losses since 2021 [5] - Post-transaction, Guoyao Harsen will no longer be included in the company's consolidated financial statements, aligning with the interests of the company and its shareholders [5]