Landfar(SZ:000504) Guo Ji Jin Rong Bao·2025-08-13 10:25Core Viewpoint - The company *ST Biopharmaceuticals is planning to acquire a 51% stake in Hunan Huize Biopharmaceutical Technology Co., Ltd. in a cash transaction, which is expected to constitute a significant asset restructuring but will not involve issuing shares or changing control [1][4]. Group 1: Acquisition Details - The acquisition aims to enhance the company's biopharmaceutical business and improve profitability and risk resistance [5]. - Hunan Huize, established in 2014, specializes in drug research and clinical evaluation, with over 85% of its revenue coming from clinical evaluation services [4]. - The acquisition is still in the planning stage, and the specific transaction terms will be finalized after due diligence and negotiations [4]. Group 2: Financial Performance - On August 12, *ST Biopharmaceuticals' stock hit the daily limit down, closing at 11.91 yuan, following two consecutive days of limit up [2]. - The company has faced financial difficulties, with a reported revenue of 134 million yuan and a net loss of 19.85 million yuan for 2024 [8]. - The company is projected to have a revenue of 49 to 52 million yuan in the first half of the year, indicating a year-on-year decline [8]. Group 3: Historical Context - The company has a history of financial struggles, having been warned of delisting multiple times due to consecutive years of negative net profits [6][7]. - Previous attempts to improve financial performance included a failed acquisition of Yuan Tai Biopharmaceuticals in 2017, which was later sold due to high R&D costs and poor financial conditions [9][11].