Core Viewpoint - Shanghai Electric plans to sell its 77.8832% stake in Minghua Electric Power Technology Co., Ltd. for 200 million yuan, which is part of a strategy to optimize its business structure and focus on core operations [1][2]. Group 1: Company Overview - Minghua Electric was established in 1996 and primarily engages in electrical engineering, communication engineering, and technology services [2]. - Shanghai Electric is a major player in the energy sector, involved in thermal power, wind power, solar energy, hydrogen energy, and comprehensive smart energy services [2]. Group 2: Financial Performance - In 2024, Shanghai Electric reported a total profit of 5.196 billion yuan, an 18% increase year-on-year, and a net profit attributable to shareholders of 2.046 billion yuan, up 28.46% [2]. - The company achieved a weighted average return on equity of 9.33%, which is an increase of 1.19 percentage points compared to the previous year [2]. Group 3: Transaction Details - The total assets of Minghua Electric are valued at 206 million yuan, with liabilities of 67.5898 million yuan and net assets of 138 million yuan [4]. - The transaction price of 200 million yuan reflects an 88.46% appreciation over the net asset value, with the assessed value of the stake being 260 million yuan [4].

Core Business Focus - Boya Biological (300294.SZ) plans to sell 80% of its subsidiary Jiangxi Boya Xinhao Pharmaceutical Co., Ltd. for approximately 213 million yuan to concentrate on its core blood products business and optimize resource allocation [1][3][5] Financial Performance - In 2024, Boya Biological reported a revenue of 1.735 billion yuan, a decline of over 34% year-on-year, while the net profit attributable to shareholders increased by nearly 70% to 397 million yuan, although it did not reach the levels of 2022 [2][10] - Boya Xinhao has been operating at a loss, with a reported loss of 34.62 million yuan in 2024 [2][5] Subsidiary Sale Details - The sale of Boya Xinhao, which has a registered capital of approximately 537 million yuan, is expected to result in a loss of about 220 million yuan for Boya Biological, given the recent capital injection of 487 million yuan into the subsidiary [1][8] - The initial valuation for the 80% stake is based on an assessment that values Boya Xinhao at approximately 266 million yuan, indicating a 24.33% increase in value [6] Historical Context - Boya Biological's revenue and net profit have stagnated since its change of ownership in 2021, with significant fluctuations in financial performance observed from 2019 to 2024 [9][10] - The company has reduced its R&D investment from 126 million yuan in 2020 to approximately 97 million yuan in 2024, indicating a potential shift in strategic focus [10] Strategic Moves - In addition to the sale of Boya Xinhao, Boya Biological announced plans to acquire 100% of Green Cross (Hong Kong) Holdings Limited for 1.82 billion yuan to enhance its blood product capabilities [10]

复星医药（600196）正在加速瘦身。公司最新公告显示，拟转让上海复健55%股权，持股比例降至45%。此次交易系根据中基协等相关最 新规定而作出调整。与此次资产剥离相比，此前复星医药的资产运作更能体现公司现阶段的发展规划。就在上个月，复星医药刚刚宣布 彻底退出和睦家，预计将为公司贡献税后收益约6.5亿元。此外，在2024年业绩说明会上，复星医药董事长吴以芳表示，2025年还将继续 加大回笼资金力度。持续回笼资金背后，复星医药账上商誉高达百亿，且短期借款在2024年进一步增加。在业内人士看来，复星医药 的"瘦身"举措有利于优化资产结构，提升资本使用效率，集中资源投入到核心业务，从而提升核心竞争力，推动业绩增长。 降低对上海复健持股比例 复星医药最新公告显示，公司拟以1399.37万元、1249.78万元、4.83万元分别向复星高科技、李凡及关晓晖转让所持有的上海复健29%、 25.9%、0.1%股权。本次转让完成后，公司持有上海复健的股权比例将由本次转让前的100%降至45%，上海复健将由公司合并报表子公 司转为合营公司。 其中，此次股权受让方复星高科技为复星医药控股股东、关晓晖为公司董事。由于本次转让完成后， ...