申联生物预亏2000万二股东套现1.11亿 拟2.37亿并购创新药企业布局双主业

Core Viewpoint - The company Shunlian Bio is expanding into the human pharmaceutical sector through the acquisition of a controlling stake in Yangzhou Shizhiyuan Biotechnology Co., Ltd. for 237 million yuan, aiming to develop a dual business model of "human pharmaceuticals" and "animal health" [1][6]. Group 1: Acquisition Details - Shunlian Bio plans to use 237 million yuan of its own and self-raised funds to acquire a controlling stake in Shizhiyuan through its wholly-owned subsidiary, Bentiangcheng [2]. - The acquisition involves a payment of 31.44 million yuan for a portion of Shizhiyuan's registered capital and an additional 206 million yuan for subscribing to new registered capital [2]. - After the acquisition, Shunlian Bio will hold 40.65% of Shizhiyuan, with an employee stock ownership platform acquiring an additional 10.35% [2][3]. Group 2: Financial Performance and Projections - Shunlian Bio is facing significant pressure in its original animal health business, having reported its first loss post-IPO in 2024, with an expected net loss of 20 million yuan in 2025 [1][7]. - The company has experienced declining performance over four consecutive years, with revenue and gross margins decreasing due to competitive pressures in the animal health sector [6][7]. - Shizhiyuan, the target of the acquisition, has not yet turned a profit, with projected revenues of 164,300 yuan and 2.5322 million yuan for 2024 and 2025, respectively, and net losses of 1.5652 million yuan and 1.29427 million yuan [3][6]. Group 3: Strategic Rationale - The acquisition is part of Shunlian Bio's strategy to accelerate its entry into the human pharmaceutical market, leveraging Shizhiyuan's innovative drug development capabilities [6]. - The company aims to integrate Shizhiyuan's research and technology platforms to enhance its human pharmaceutical pipeline and industrial foundation [6]. - Shunlian Bio is adjusting its operational strategy to focus on customer needs and improve internal management efficiency amid declining sales and increased credit losses [7].