第一财经·2025-06-04 13:53Core Viewpoint - The article discusses the acquisition of control over listed companies, specifically highlighting the acquisition of 23% of Yiming Pharmaceutical by Yao Jinbo for 662 million yuan, indicating a trend of control changes among various listed companies in 2023 [1][2]. Group 1: Yiming Pharmaceutical Acquisition - Yao Jinbo's company plans to acquire 23% of Yiming Pharmaceutical at a price of 15.10 yuan per share, representing a 24% premium over the last closing price of 12.18 yuan [1][3]. - After the acquisition, the actual controller of Yiming Pharmaceutical will change from Gao Fan to Yao Jinbo, who holds 99% of the shares in the acquiring company [3][4]. - The transaction includes performance guarantees, with Yiming Pharmaceutical committing to maintain annual audited revenue of no less than 600 million yuan and net profit of no less than 30 million yuan for the next three years [4]. Group 2: Financial Performance of Yiming Pharmaceutical - Yiming Pharmaceutical's revenue and net profit saw significant declines in 2023, with revenue down 22.14% and net profit down 65.14% year-on-year [5]. - In 2024, the company reported revenue of 652 million yuan, a slight decline of 2.27%, but net profit increased by 198.5% to 45.93 million yuan [5]. - The company heavily relies on a single product, Miglitol tablets, which accounted for 72.72% of its revenue, raising concerns about its vulnerability to market changes [5]. Group 3: Broader Market Trends - Several listed companies have announced changes in control this year, with buyers including industrial capital, state-owned enterprises, and private equity firms [1][6]. - For instance, Filinger announced a change in control with significant share transfers to industrial capital and private equity [7][8]. - The trend indicates a growing involvement of state-owned and industrial entities in acquiring control of listed companies, reflecting a shift in market dynamics [9][10].