“儿童药龙头”葫芦娃被查 涉嫌信披违规

Core Viewpoint - ST HuLuWa Pharmaceutical Group Co., Ltd. is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws, impacting its operations and financial reporting [1] Group 1: Company Overview - ST HuLuWa, established in 2005, focuses on the research, production, and sales of pediatric medicines, with notable products including pediatric cough and asthma granules and intestinal inflammation capsules [1] - The company aims to establish itself as the "first brand of children's medicine in China" and was listed on the Shanghai Stock Exchange in July 2020 [1] Group 2: Financial Performance - From 2020 to 2024, ST HuLuWa reported stable annual revenues of over 1 billion yuan and approximately 100 million yuan in net profit [1] - However, in 2025, the company faced scrutiny for inaccurate financial disclosures, leading to a correction of its 2023 net profit to only 10.85 million yuan, a reduction of 89.81% from previously reported figures [2] - The 2024 financial report revealed a significant decline, with total revenue of 1.414 billion yuan, down 21.26% year-on-year, and a net loss of 274 million yuan, a staggering decrease of 2629.23% [2] Group 3: Regulatory Actions - Prior to the formal investigation, ST HuLuWa received disciplinary actions from the Shanghai Stock Exchange due to accounting errors and failure to timely disclose its 2024 earnings forecast [3] - The company and its executives faced public reprimands, which were recorded in the securities and futures market integrity database [3] Group 4: Current Operations - Despite the ongoing regulatory issues, ST HuLuWa reported that its production and operational activities continue to function normally [1] - The company's third-quarter report for 2025 indicated a revenue of approximately 683 million yuan, a year-on-year decline of 33.88%, with a loss of 11.21 million yuan [4] Group 5: Market Reaction - Following the announcement of the investigation, ST HuLuWa's stock experienced a significant drop, hitting the daily limit down for two consecutive days, with a current share price of 7.99 yuan and a total market capitalization of around 3.2 billion yuan [5]