Core Viewpoint - New Nuo Wei is acquiring an additional 29% stake in Giant Stone Biopharmaceutical Co., Ltd. from its controlling shareholder, Enbi Pu Pharmaceutical Co., Ltd., which will increase its ownership to 80% after the transaction is completed [1][4]. Group 1: Acquisition Details - The acquisition price is set at 1.1 billion yuan, representing a premium of approximately 146% over the assessed value of Giant Stone Biopharmaceutical [6]. - New Nuo Wei previously acquired 51% of Giant Stone Biopharmaceutical for 1.871 billion yuan in early 2024, making it a controlling subsidiary [4][11]. - The transaction does not include any performance commitments from the seller [7]. Group 2: Financial Performance - Giant Stone Biopharmaceutical is currently operating at a loss, with losses of approximately 376 million yuan in the first half of 2025 [2][8]. - New Nuo Wei reported a loss of 2.7461 million yuan in the first half of 2025, marking its first mid-year loss since 2017 [7][9]. - The company's revenue for the first half of 2025 was 1.05 billion yuan, a year-on-year increase of 7.99% [7]. Group 3: Strategic Implications - The repeated acquisitions from the controlling shareholder indicate a strategic shift towards the innovative drug sector, as New Nuo Wei aims to enhance its market position [10][11]. - New Nuo Wei is planning to list in Hong Kong to support its global strategy and improve its international competitiveness [13]. - The company has faced challenges in its operational performance, raising questions about its ability to sustain normal operations post-acquisition [7][9].