China Meheco(SH:600056) Xin Lang Cai Jing·2026-01-21 19:34Core Viewpoint - China Medical Health Industry Co., Ltd. is holding an investor briefing on asset acquisition to address investor concerns and provide detailed information about the transaction [2][3][11]. Group 1: Meeting Details - The investor briefing is scheduled for January 28, 2026, from 15:00 to 16:00 at the Shanghai Stock Exchange Roadshow Center [2][6]. - The meeting will be conducted via video and online interaction, allowing investors to submit questions in advance [3][5]. - Key personnel attending the meeting include the Chairman/General Manager, Chief Accountant, and Secretary of the Board [4]. Group 2: Financial Performance of the Target Company - The target company, Shanghai Zezheng Pharmaceutical Technology Co., Ltd., experienced a significant decline in performance in 2025, with a net profit drop of 75.99% and a revenue decrease of 12.24% compared to 2024 [11][30]. - The revenue for 2025 was approximately 225.51 million yuan, down from 258.69 million yuan in 2024, while the net profit was 9.44 million yuan, compared to 39.34 million yuan in 2024 [12][30]. - The decline in revenue was primarily attributed to a 66.87% drop in the pharmaceutical research business, which fell from 131.15 million yuan in 2024 to 43.44 million yuan in 2025 [25][30]. Group 3: Business Segments and Strategy - The target company has shifted its business strategy towards technology transfer, which accounted for 52.92% of total revenue in 2025, showing a growth of 104.67% year-on-year [26][33]. - The company has a robust pipeline of 67 ongoing research projects, which supports future technology transfer opportunities [31][33]. - The company aims to focus on high-value segments in the CRO industry and expand its client base to ensure sustainable growth in its research services [30][31]. Group 4: Risk Factors - The target company faces risks related to the performance decline of its CRO business, which is highly competitive, and the potential for further revenue drops if market conditions worsen [9][10]. - There are concerns regarding the sustainability of the technology transfer business, as it heavily relies on successful project development and market demand [9][10]. - The company has acknowledged the risk of goodwill impairment due to the high valuation of the acquisition relative to the target company's declining performance [10].