知名药企，突然清算注销五家公司

Core Viewpoint - The company Fangsheng Pharmaceutical is initiating the liquidation of five subsidiaries that have not been operational or have ceased operations, following the previous liquidation of eight companies within four months, totaling thirteen companies [1][3][4]. Group 1: Company Actions - Fangsheng Pharmaceutical announced the liquidation of five subsidiaries, including Hunan Fangtai No. 2 to No. 5 Management Partnership and Hunan Fangsheng Tang Traditional Chinese Medicine Technology Co., Ltd. [3][16]. - The registered capital of these companies ranges from 8.78 million yuan (Fangtai No. 5) to 30 million yuan (Fangsheng Tang) [3][16]. - The company aims to reduce management costs and optimize resource allocation to enhance operational efficiency, consistent with the reasons for the previous liquidation [4][17]. Group 2: Financial Performance - In 2024, Fangsheng Pharmaceutical achieved a revenue of 1.777 billion yuan, a year-on-year increase of 9.15%, and a net profit attributable to shareholders of 255 million yuan, up 36.61% [6][18]. - The first three quarters of 2025 saw a net profit of 268 million yuan, representing a year-on-year growth of 17.60% [6][18]. - However, the medical business and other segments experienced a significant revenue decline of 41.12% to 76.96 million yuan in 2024, primarily due to the exit of three companies from the consolidated financial statements [6][18]. Group 3: Business Structure and Challenges - The company’s core products include various medications, with some experiencing revenue declines due to centralized procurement price reductions and the divestiture of pharmaceutical commercial operations [20][22]. - Despite the growth in core product sales, the overall revenue growth is hindered by price reductions and the exit of certain business segments [20][22]. - Fangsheng Pharmaceutical's total market value as of December 17 was 4.878 billion yuan, which is below the industry median, and its revenue of 1.777 billion yuan is only 35% of the industry average [22][23].