PKU HealthCare (SZ:000788) Bei Ke Cai Jing·2025-11-01 01:55Core Viewpoint - The arrest of Chairman Xu Xiren has caused significant fluctuations in the stock price of Peking University Medicine, reflecting increased uncertainty for the company as it navigates a challenging transition period following a recent ownership change [1][3][4]. Group 1: Company Leadership and Ownership Changes - Xu Xiren was detained just ten months after taking control of Peking University Medicine through a 1 yuan acquisition, leading the company to a path of "de-Peking" transformation [2][5][22]. - Following Xu's detention, the company announced that it had made arrangements for related work, indicating a temporary disruption in leadership [4][17]. - The ownership structure changed significantly when New Advantage International, controlled by Xu, acquired 100% of Southwest Synthesis Pharmaceutical Group, thereby gaining control of Peking University Medicine [5][11]. Group 2: Business Performance and Client Relationships - Peking University Medicine is experiencing a performance downturn, with a reported revenue of 2.74 billion yuan for Q3 2025, a 47.95% year-on-year decline, and a net profit of 356.87 million yuan, down 18.04% [28]. - The company has lost its largest client, Beijing University International Hospital, which accounted for 48.71% of its total sales in 2024, leading to concerns about the sustainability of its main business operations [26][27]. - The termination of the long-term service contract with the hospital is expected to result in a complete halt of main business activities, posing risks of personnel layoffs and further corporate transformation [25][27].