2.6亿专利官司缠身 梅花生物实控人又因操纵市场获刑

Core Viewpoint - Meihua Biological and its subsidiaries are facing a lawsuit from Ajinomoto Co., Inc. for patent infringement, with potential damages amounting to 260 million yuan [2][3] - The company is also dealing with internal issues, including the imprisonment of its controlling shareholder Meng Qingshan for market manipulation, which raises concerns about governance and operational stability [5][6][7] - Despite recent operational challenges, the company has shown signs of recovery in its financial performance, although long-term revenue growth remains a concern [8][9] Legal Issues - Meihua Biological received a civil lawsuit from Ajinomoto, claiming infringement of two patents related to the production of monosodium glutamate, seeking 260 million yuan in damages [3] - Ajinomoto holds two patents: one for "Microorganisms producing L-glutamic acid" and another for "Manufacturing methods of L-amino acids" [3] - The company asserts its commitment to intellectual property rights and plans to actively defend against the lawsuit [4] Management and Governance - Meng Qingshan, the controlling shareholder, was sentenced to three years in prison (with a five-year probation) for manipulating the securities market, which raises governance concerns [5][6] - The company emphasizes that Meng has not held any position since his retirement in 2017 and that his legal issues do not impact the company's operations [7] Financial Performance - Meihua Biological experienced revenue declines in 2023 and 2024, with revenues of 27.761 billion yuan and 25.069 billion yuan, representing decreases of 0.63% and 9.69% year-on-year, respectively [8] - Net profits also fell during this period, with a decline of 27.81% and 13.85% [8] - In the first half of 2025, the company reported a revenue of 12.28 billion yuan, down 2.87%, but net profit increased by 19.96% to 1.768 billion yuan, attributed to improved sales and reduced raw material costs [8][9] Future Outlook - Despite recent improvements in profitability, industry experts caution that the company faces a "profit increase without revenue increase" situation, indicating potential long-term revenue growth challenges [9] - Meihua Biological is actively pursuing overseas acquisitions to enhance its growth prospects, with a focus on integrating these assets to drive revenue and profit growth [9]