Shang Hai Zheng Quan Bao·2025-10-13 23:02Core Viewpoint - The transfer of 14.61% of shares in Asia-Pacific Pharmaceutical (002370) at a premium of 45.68% raises questions about the future direction of the company, which has reported six consecutive years of net profit losses excluding non-recurring items [2][5]. Group 1: Share Transfer Details - Asia-Pacific Pharmaceutical announced that its controlling shareholder, Fubon Group, will transfer 14.61% of its shares to Xinghao Holdings at a price of 8.26 yuan per share, totaling 900 million yuan [5]. - The transfer price represents a 45.68% premium compared to the last trading price of 5.67 yuan per share before suspension on September 26 [5]. Group 2: Financial Performance - The company has reported net profit losses excluding non-recurring items for six consecutive years, with figures from 2019 to 2024 being -1.94 billion yuan, -143 million yuan, -239 million yuan, -117 million yuan, -68.94 million yuan, and -28.13 million yuan respectively [5]. - In the first half of 2025, the company achieved revenue of approximately 152 million yuan, a year-on-year decrease of 31.48%, while the net profit attributable to shareholders was approximately 105 million yuan, an increase of 1820.97% due to the sale of a subsidiary [6]. Group 3: New Leadership and Future Plans - After the share transfer, the actual controller will change to Qiu Zhongxun, who is associated with Yaodou Technology, a digital pharmaceutical platform with extensive industry connections [8]. - The company plans to raise up to 700 million yuan by issuing shares at 5.11 yuan each, with proceeds dedicated to new drug research and development [8]. - Yaodou Technology's collaboration with over 1,000 pharmaceutical companies and its extensive supply chain capabilities are expected to enhance the company's innovation and market competitiveness [8].