紫鑫药业签订表决权委托协议 国药兆祥成控股股东

Core Viewpoint - Zixin Pharmaceutical, known as the "King of Ginseng," is undergoing a change in control as its major shareholder, Kangping Investment, transfers voting rights to Guoyao Zhaoxiang, marking a significant shift in the company's management amid ongoing financial losses [1][3]. Company Overview - Zixin Pharmaceutical's main business includes traditional Chinese medicine and ginseng products, with traditional Chinese medicine accounting for 93.58% of its revenue in the first half of 2021 [2][4]. - The company reported a total revenue of 1.26 billion yuan in the first half of 2021, with ginseng products contributing only 310.1 million yuan, representing 2.47% of total revenue [2][4]. Financial Performance - The company has faced continuous financial decline, with projected net losses for the first three quarters of 2021 estimated between 305 million and 350 million yuan, worsening from a loss of 277 million yuan in the same period last year [5][6]. - Zixin Pharmaceutical's net profit has been declining since 2017, with reported revenues of 13.27 billion yuan in 2017 dropping to 2.86 billion yuan in 2020, and corresponding net profits turning from 3.72 billion yuan in 2017 to a loss of 706 million yuan in 2020 [6]. Debt Situation - As of September 15, the total overdue debt of Zixin Pharmaceutical and its subsidiaries amounted to approximately 2.623 billion yuan, which is 70.16% of the latest audited net assets and 24.96% of total assets [6]. Strategic Changes - The introduction of Guoyao Zhaoxiang as the new controlling shareholder is expected to provide financial and resource support, optimize the shareholder structure, and reduce the company's debt levels [3][4].