财经连线 | 378天，山东药玻被划入央企版图

Core Viewpoint - Shandong Pharmaceutical Glass (山东药玻) is undergoing a significant change in its ownership structure, with plans to issue shares to China International Pharmaceutical Health Co., Ltd. (国药国际) and its affiliates, which will result in a new controlling shareholder, China National Pharmaceutical Group (国药集团) [2][12]. Group 1: Ownership Change - The company plans to issue shares at a price of 16.25 yuan per share, raising a total of approximately 3.235 billion yuan [2]. - Following the issuance, the controlling shareholder will change from Shandong Luzhong Investment Co., Ltd. to 国药国际, with the ultimate controller being the State-owned Assets Supervision and Administration Commission of the State Council [2][12]. - This transition marks a shift from a local state-owned enterprise to a central state-owned enterprise, potentially enhancing governance, financing channels, and industrial collaboration [12]. Group 2: Financial Performance - In 2024, the company reported revenue of 5.125 billion yuan, a year-on-year increase of 2.87%, and a net profit of 943 million yuan, up 21.55% year-on-year [5]. - However, the 2025 Q3 report indicated a decline in revenue to 3.401 billion yuan, down 11.10% year-on-year, and a net profit of 542 million yuan, a significant drop of 24.70% [6][7]. - The company's core product, molded bottles, accounted for 60% of revenue, with a domestic market share exceeding 75% [5]. Group 3: Leadership Changes - The chairman, Hu Yonggang, resigned due to age reasons, and the general manager, Zhang Jun, has taken over as acting chairman [10][11]. - Hu Yonggang's tenure saw significant achievements, including overcoming technical barriers and leading the company to become a national champion in manufacturing [9]. - The leadership transition occurs amid financial pressures and potential changes in control, signaling a new phase for the company [10][11]. Group 4: Market Reactions - Following the announcement of the share issuance, the company's stock experienced volatility, with a cumulative increase of 2.67% over eight trading days [17]. - As of January 23, the stock price was 21.08 yuan per share, reflecting a 1.39% increase on that day [17].