盟科药业10亿元定增方案告吹，曾引爆控制权争夺

Core Viewpoint - The capital operation of Mengke Pharmaceutical, known as the "first stock of antibiotics," has ended with the termination of its planned private placement of 1.033 billion yuan due to strong opposition from its major shareholder Genie Pharma, leading to significant internal conflicts within the company [1][2][8]. Group 1: Termination of Private Placement - Mengke Pharmaceutical announced the termination of its private placement plan after significant disagreements with its major shareholder Genie Pharma, which opposed the execution of the plan [1][8]. - The company cited that continuing with the stock issuance could negatively impact its stable operational development [1][8]. - Following the termination, Mengke Pharmaceutical plans to explore various financing channels, including engaging new strategic investors and issuing shares to unspecified parties [1]. Group 2: Financial Performance and Background - Mengke Pharmaceutical has been facing financial difficulties, with net losses of 220 million yuan, 421 million yuan, and 441 million yuan from 2022 to 2024, and a net loss of approximately 194 million yuan in the first three quarters of this year [2][3]. - As of June 30, the company had cash and cash equivalents of only 237 million yuan, prompting a shift in the use of IPO funds to supplement working capital [3]. Group 3: Shareholder Dynamics - Genie Pharma, the largest shareholder, has been vocal in its opposition to the private placement, raising concerns about the potential loss of the company's independence and the financial implications of the deal [6][7]. - The proposed private placement would have allowed Haiqing Pharmaceutical to become the controlling shareholder, which raised alarms for Genie Pharma regarding control over the board and company operations [7][8]. - The internal conflict escalated to a point where Genie Pharma sought to replace existing board members, indicating a struggle for control within the company [7].