Jing Ji Guan Cha Wang·2025-11-21 12:52Core Viewpoint - Two major pharmaceutical groups, Jiuzhoutong and Guangzhou Pharmaceutical Group, are acquiring distressed companies to strengthen their respective business segments in the medical aesthetics and IVD (in vitro diagnostics) industries [1][2]. Group 1: Jiuzhoutong's Acquisition of Aoyuan Meigu - Jiuzhoutong's wholly-owned subsidiary is investing in Aoyuan Meigu, which has entered a restructuring process due to ongoing financial losses and debt crises [1][2]. - Aoyuan Meigu, which ventured into the medical aesthetics sector in 2020, has been struggling with significant operational losses and was unable to repay debts, leading to a restructuring application [2][3]. - If the restructuring is successful, Jiuzhoutong plans to leverage its strong pharmaceutical supply chain and operational management experience to enhance collaboration with Aoyuan Meigu in the beauty and health sector [4]. Group 2: Guangzhou Pharmaceutical Group's Acquisition of Da'an Gene - Guangzhou Pharmaceutical Group is acquiring 100% equity of Guangyong Technology, which will indirectly give it control over 2.33 billion shares of Da'an Gene, amounting to a total investment of 908 million yuan [1]. - Da'an Gene, initially a university-run enterprise, has faced significant declines in performance, with a 90.20% drop in revenue and a 98.07% drop in net profit in 2023 [3]. - The acquisition aims to resolve internal issues at Da'an Gene and expand Guangzhou Pharmaceutical Group's business footprint in the IVD sector, creating a comprehensive "diagnosis + treatment + health management" industry chain [5]. Group 3: Industry Environment - Both the medical aesthetics and IVD sectors have moved past the most stringent regulatory challenges, allowing for greater pricing flexibility for compliant institutions [6]. - The ongoing price reductions in the IVD sector have led to a concentration of market share among leading companies, presenting a favorable opportunity for cash-rich players to acquire distressed assets [6].