Deluxe Family(SH:600503) Zheng Quan Zhi Xing·2025-08-10 13:14Core Viewpoint - The company plans to invest up to RMB 300 million in Shanghai Haihe Pharmaceutical Research and Development Co., Ltd. through a share subscription, aiming to hold at least 5% of the company's equity post-financing [1][3][27] Group 1: Transaction Overview - The share subscription price is set at RMB 4.75 per share, with a maximum subscription of 63.157895 million shares [1][3] - The financing plan involves a rights issue where existing shareholders can subscribe for new shares at a ratio of 2 shares for every 10 shares held [2][19] - The transaction constitutes a related party transaction due to the company's relationship with the controlling shareholder, Shanghai Nanjing Group [1][4] Group 2: Financial and Valuation Aspects - The estimated value of Haihe Pharmaceutical's total equity ranges from RMB 3.41 billion to RMB 4.01 billion based on asset-based valuation methods [20][21] - The company has a solid financial structure, with a low debt-to-asset ratio, indicating that the investment will not adversely affect its financial status [27] Group 3: Business and Market Context - Haihe Pharmaceutical focuses on innovative drug development in the oncology sector, with several products already commercialized or in advanced clinical stages [11][12] - The biopharmaceutical industry is a key growth area in Shanghai, supported by favorable policies and significant market potential [26][27] - The company has established a comprehensive R&D system and has multiple drug pipelines, indicating strong innovation capabilities [12][15]