突发！600079，将被ST

Core Viewpoint - Humanwell Healthcare will be subjected to ST treatment due to false financial disclosures in its annual report, as announced by the China Securities Regulatory Commission [1][2] Group 1: Financial Misconduct - Humanwell Healthcare failed to timely disclose non-operating fund occupation of 12.785 billion yuan from 2020 to March 2022, with 2.502 billion yuan in 2020 accounting for 17.58% of net assets [2] - The annual report for 2020 omitted the disclosure of 2.502 billion yuan in fund occupation (19.26% of net assets), and the 2022 report did not disclose 1.645 billion yuan in related party transactions [2] - The annual reports for 2020, 2021, and the first half of 2022 inflated net profits by 143 million yuan, 72 million yuan, and 91 million yuan respectively [2] Group 2: Penalties and Consequences - The total fines imposed on Humanwell Healthcare amount to 8.5 million yuan, with additional penalties for related parties including 9 million yuan for the controlling shareholder and 3.9 million yuan for the former chairman [2][3] - A total of 36.7 million yuan in fines will be levied on various responsible individuals, with penalties ranging from 500,000 yuan to 3.4 million yuan [2] Group 3: Management Changes - The controlling shareholder of Humanwell Healthcare changed to China Merchants Group in July 2025, ending a 32-year control by the Contemporary Group [5] - Following the change in control, there was a significant turnover in the executive team, with multiple resignations attributed to personal reasons [5][6] Group 4: Financial Performance - Humanwell Healthcare's net profit declined from 2.484 billion yuan in 2022 to 1.33 billion yuan in 2024, nearly halving [7] - In the first three quarters of 2025, the company reported revenue of 17.883 billion yuan, a year-on-year decrease of 6.58%, while net profit attributable to shareholders increased by 6.22% to 1.689 billion yuan [9] - The company invested over 1 billion yuan in research and development [9] Group 5: New Drug Approvals - Humanwell Healthcare's new drug HWS117 injection, a novel long-acting FSH drug, received clinical approval, marking a total of 10 new drugs approved for clinical trials in 2025 [10]