沃森生物优化股权结构的战略棋局——增厚经营业绩 提升利润水平

Core Viewpoint - Watson Bio intends to acquire approximately 13.78% equity in Yuxi Watson for about 2 billion RMB, increasing its ownership to approximately 92%, which will enhance control and decision-making efficiency, ultimately boosting revenue and profit levels [1][3][4] Group 1: Financial Impact - Yuxi Watson is a significant revenue contributor, projected to generate approximately 26.64 billion RMB in revenue and 2.54 billion RMB in net profit in 2024, and approximately 16.82 billion RMB in revenue and 2.69 billion RMB in net profit in the first three quarters of 2025 [1][5] - Yuxi Watson accounts for over 90% of Watson Bio's total revenue and is the primary source of its profits, with total assets of approximately 69.62 billion RMB and net assets of about 41.24 billion RMB as of September 30, 2025 [5] Group 2: Strategic Importance - The acquisition of Yuxi Watson's equity is seen as a strategic move to ensure a stable profit source that can support Watson Bio's R&D efforts and mitigate performance fluctuations due to innovation investments [7] - Watson Bio aims to optimize its core product production and sales, enhance management and technological innovation, and focus resources on developing breakthrough products while maintaining product quality [7][8] Group 3: Future Development Plans - The company plans to explore full-chain industrial opportunities through various innovative models, including independent R&D and external acquisitions, to strengthen its market-oriented product discovery and development capabilities [8] - Watson Bio is also advancing the construction of industrial bases in Beijing, Guangzhou, and Chengdu, aiming to establish a strategic industrial layout that radiates from Yunnan to the entire country and beyond [8]