Shang Hai Zheng Quan Bao·2025-12-15 18:43Core Viewpoint - The company aims to enhance its product pipeline in the central nervous system treatment area by acquiring a controlling stake in Green Valley Pharmaceutical, focusing on unmet clinical needs and creating integrated diagnostic and therapeutic solutions [2][7][48]. Transaction Overview - The total investment for the acquisition amounts to 1.412481633 billion yuan, which includes: - 143 million yuan for acquiring 20.15 million yuan of registered capital from existing shareholders [2][7]. - 1.269481633 billion yuan for subscribing to 200.867347 million yuan of newly registered capital [2][7]. - The acquisition will result in the company holding 53% of the target company's shares post-transaction, integrating it into the company's consolidated financial statements [3][48]. Company Background - The target company, established in October 2018, focuses on the research, production, and sales of drugs for neurodegenerative diseases, particularly the drug Mannothe Sodium Capsule, which has shown efficacy in improving cognitive function in Alzheimer's patients [13][14][47]. - The drug received conditional approval from the National Medical Products Administration in November 2019 and was included in the national medical insurance catalog in 2021 [13][47]. Financial Data - As of December 31, 2023, the target company reported total assets of 1.08089 billion yuan and a net profit of 31.48 million yuan [14]. - The financial outlook shows a decline in revenue and profit due to the expiration of the drug's registration certificate in November 2024, which halted commercial production [14][48]. Market Context - The global Alzheimer's disease patient population is projected to increase from 57 million in 2019 to 153 million by 2050, indicating a significant market opportunity [46]. - In China, the incidence rate of Alzheimer's disease has risen dramatically, with a reported increase of 242.5% from 1990 to 2021 [46]. - The market for Alzheimer's treatment drugs is expected to reach approximately 2.094 billion USD globally in 2024, with only 1.244 billion yuan in sales projected for China [46]. Strategic Intent - The acquisition is part of the company's strategy to address unmet clinical needs in the central nervous system treatment sector and to expand its product offerings [48]. - The company plans to continue clinical trials for the Mannothe Sodium Capsule to obtain necessary approvals for commercial production and to explore international clinical research opportunities [48].