股东拟“清仓式”减持吓崩股价 昭衍新药相关股东忙调整减持计划

Core Viewpoint - The stock price of Zhaoyan New Drug (603127) plummeted due to shareholders' proposed significant reduction in holdings, leading to a trading halt in A-shares and a substantial drop in H-shares [2][3]. Shareholder Reduction Plan - On March 17, Zhaoyan New Drug announced a correction regarding the proposed reduction by shareholders Gu Xiaolei and Gu Meifang, adjusting the reduction from a maximum of 4.1% to 3%, and changing the method to a combination of centralized bidding and block trading [2][3]. - As of the announcement date, Gu Xiaolei and Gu Meifang held 20.42 million shares (2.73%) and 10.32 million shares (1.38%) respectively, indicating an initial intent for a significant sell-off [3]. Market Reaction - Following the announcement, Zhaoyan New Drug's A-shares closed at the limit down price of 29.32 yuan per share, a decline of 10.01%, while H-shares fell by 11.73% to 16.78 HKD per share [3]. - The adjustment in the reduction plan is viewed as a measure to mitigate market impact, although it still represents a significant sell-off, and the stock's future performance will depend on the company's fundamentals and industry conditions [3]. Previous Reduction Announcements - This is not the first instance of Zhaoyan New Drug announcing shareholder reductions; the actual controller Zhou Zhiwen had previously disclosed a plan to reduce holdings by up to 2% of the total share capital, having already reduced 14.979 million shares (approximately 2%) before terminating the plan early [4]. - Since the beginning of 2025, Zhaoyan New Drug's A-share price had risen significantly, but it has been in a continuous decline since reaching a peak in mid-January [4]. Financial Performance - Zhaoyan New Drug reported a substantial increase in expected net profit for 2025, projected to be between 233 million to 349 million yuan, representing a year-on-year increase of approximately 214% to 371% [4]. - The increase in profit is attributed to rising market prices of biological assets and natural growth value, although the company noted a decrease in revenue and gross margin from contract fulfillment due to intense prior industry competition [4].