私募21亿元接盘 常山药业实控人拟再套现

Core Viewpoint - Changshan Pharmaceutical has attracted investment from a private equity fund, marking the second time its controlling shareholder, Gao Shuhua, has reduced his stake through a share transfer agreement in recent years [1][3]. Summary by Sections Share Transfer Details - Gao Shuhua plans to transfer 46 million unrestricted shares, representing 5.0051% of the company's total equity, to Chongqing Element Private Securities Investment Fund Management Co., Ltd. [1] - The transfer price is set at 46.25 CNY per share, totaling 2.1275 billion CNY for the transaction, which reflects a discount compared to the closing price of 56.13 CNY on November 21 [3]. Investment Rationale - Gao Shuhua's decision to reduce his stake is driven by personal funding needs, while Element Fund recognizes the growth potential and investment value of Changshan Pharmaceutical [3]. - Element Fund has committed not to sell its shares for 12 months post-transfer, indicating a long-term investment perspective rather than short-term speculation [3][4]. Company Performance and Market Context - Changshan Pharmaceutical focuses on developing, producing, and selling drugs for cardiovascular diseases and has a new drug application for a GLP-1 long-acting injection for type 2 diabetes under review [3][4]. - The company's stock has surged by 180.79% from January 2 to November 21, with a peak price of 71.71 CNY on November 3, despite a lack of financial performance support [4]. - For the first three quarters of the year, Changshan Pharmaceutical reported a revenue of 681 million CNY, a decrease of 13.11% year-on-year, and a net loss of 44.82 million CNY, a decline of 714.77% [4][5]. Historical Context of Share Transfers - This is not the first time Gao Shuhua has reduced his stake through a share transfer; he previously transferred 53 million shares at a price of 9.2 CNY per share last year, resulting in a significant increase in the transfer price this time, exceeding four times the previous price [5].