业绩承诺期未满 华神科技变卖医药流通资产

Core Viewpoint - Huasheng Technology has shifted its focus to the pharmaceutical sector while announcing the divestiture of its pharmaceutical distribution subsidiary, indicating a strategic realignment to enhance core business capabilities and profitability [2][3][4]. Group 1: Divestiture Details - Huasheng Technology plans to publicly transfer 51% of its stake in Tibet Kangyu Pharmaceutical Co., Ltd. at a base price of 63.78 million yuan [2][4]. - The company acquired this stake for 51 million yuan in August 2023, with performance guarantees tied to net profit targets for the subsequent years [2][6]. - The decision to sell comes before the end of the performance guarantee period, raising questions about the subsidiary's financial health [2][7]. Group 2: Financial Performance - In 2023, Huasheng Technology reported revenue of approximately 1 billion yuan, a year-on-year increase of 14.92%, with the pharmaceutical segment contributing about 511 million yuan, up 21.17% [6][9]. - However, in 2024, Tibet Kangyu failed to meet its profit commitments, achieving only 1.68 million yuan in net profit, representing a completion rate of 83.92% [7][8]. - The company's net profit has been declining, with a drop of 32.89% in 2023 and a projected loss of 45 to 55 million yuan in the first half of 2025 [9][11]. Group 3: Strategic Implications - The divestiture is part of a broader strategy to concentrate resources on core business areas, aiming to improve profitability and competitive strength [3][4]. - The sale will remove Tibet Kangyu's distribution business from Huasheng's consolidated financial statements, although the company's own product distribution will continue to be managed internally [9]. - The shift in revenue structure shows a significant increase in the pharmaceutical business's contribution to total revenue, rising from 48.33% to 73.74% over three years [9].