暴涨80%，姚劲波一次罕见出手

Core Viewpoint - Recent trends show that prominent figures are increasingly acquiring control of listed companies to gain financial benefits, with notable examples including Yao Jinbo's acquisition of a stake in Yiming Pharmaceutical [1][2][14]. Group 1: Acquisition Details - Yiming Pharmaceutical announced that Beijing Fuhao plans to invest 662 million yuan to acquire 23% of shares from the current controlling shareholder, Gao Fan, which will change the controlling shareholder to Beijing Fuhao [1]. - The acquisition price is set at 15.1 yuan per share, indicating that Yao Jinbo has already realized a floating profit before the completion of the acquisition [2]. - Following the announcement, Yiming Pharmaceutical's stock price surged, achieving a cumulative increase of 84.32% in June, with a closing price of 22.45 yuan per share [1][15]. Group 2: Company Performance - Yiming Pharmaceutical specializes in treatments for chronic diseases such as diabetes and cardiovascular diseases, with its flagship product, Miglitol tablets, accounting for over 70% of its revenue [5]. - The company has faced declining revenue and net profit over the past two years, with projected revenues of 667 million yuan and 652 million yuan for 2023 and 2024, respectively, reflecting a year-on-year decline of 2.27% [5]. - The company is set to lose a significant revenue source due to the termination of its collaboration with Shanghai Pharmaceuticals regarding Guo Laopi injection, which contributed 12.92% of revenue in 2024 [6][7]. Group 3: Performance Guarantee Agreement - To mitigate risks associated with the acquisition, Yao Jinbo has signed a performance guarantee agreement with Yiming Pharmaceutical, stipulating that the company must achieve a minimum revenue of 600 million yuan and a net profit of at least 30 million yuan annually from 2025 to 2027 [9][10]. - If these targets are not met, the original controlling shareholder, Gao Fan, will be required to provide compensation, and he can only reduce his remaining shares after meeting one year's target [10]. Group 4: Market Trends - The trend of acquiring control of listed companies is not limited to industry leaders; even government entities are reportedly engaging in "shell buying" [3][16]. - Recent policies, such as the "National Nine Articles" and "Merger Six Articles," have stimulated activity in the market for control of listed companies, leading to increased participation from various buyers, including private equity firms and government funds [17][19]. - Notable transactions include Shenzhen Xinchuangyuan acquiring a 13.03% stake in Annai, and Haier's acquisition of control over Yong'an Hang, indicating a growing trend of strategic acquisitions in the market [18].