北京世茂大厦七折拍卖易主，“药王”扬子江药业超22亿接盘

Core Viewpoint - The Shimao Tower in Beijing's Chaoyang District was sold at a significant discount, raising questions about the implications of a pharmaceutical company, Yangtze River Pharmaceutical Group, entering the real estate market and the current situation of Shimao Group after multiple asset disposals [1][5]. Group 1: Transaction Details - The Shimao Tower was auctioned for 2.254 billion yuan, which is approximately 70% of its latest assessed value of 3.22 billion yuan [3][4]. - The buyer, Beijing Yangtze River Real Estate Co., Ltd., is a wholly-owned subsidiary of Yangtze River Pharmaceutical Group, which was established in late October 2023 [3][4]. - The building, completed in 2006, has a total area of 70,000 square meters and is located in a prime business district near major transportation and luxury amenities [3][4]. Group 2: Yangtze River Pharmaceutical Group Overview - Yangtze River Pharmaceutical Group, founded in 1971, is a leading player in the domestic pharmaceutical industry, with projected revenues of 73.93 billion yuan in 2024, ranking first among private pharmaceutical companies [4]. - The company has a gross margin of approximately 65% and a net margin of about 18%, both exceeding industry averages [4]. - The group is expanding its footprint in the real estate sector as part of its broader strategy to develop a health management ecosystem, with ongoing projects in key regions [4][5]. Group 3: Shimao Group's Current Situation - Shimao Group, once known for its luxury real estate developments, has been selling assets to recover funds after declaring a default on a $1 billion overseas debt in July 2022 [6][7]. - The company has sold various landmark properties and has been actively restructuring its overseas debt, which amounts to approximately $14.4 billion [7][8]. - In the first half of 2023, Shimao Group reported revenues of 14.827 billion yuan, with a net loss of 8.934 billion yuan, indicating a significant reduction in losses compared to the previous year [8][9].