Core Viewpoint - Koyuan Pharmaceutical has received a decision from the Shenzhen Stock Exchange to terminate the review of its application for issuing shares to purchase assets and raise supporting funds, following the company's board meeting resolution to withdraw the application [1][2]. Group 1: Company Actions - Koyuan Pharmaceutical's board approved the termination of the share issuance for asset purchase and the related fundraising on November 28, 2025 [1]. - The company submitted an application to withdraw its proposal for issuing shares to purchase assets and raise funds on the same day [1]. Group 2: Transaction Details - Koyuan Pharmaceutical planned to pay 3.58 billion yuan to acquire 99.42% of Hongjitang's equity and raise up to 700 million yuan in supporting funds [2]. - The transaction would have made Hongjitang a subsidiary of Koyuan Pharmaceutical, with both companies under the control of Gao Yuankun, a prominent figure in the industry [2]. Group 3: Financial Performance - Koyuan Pharmaceutical has experienced declining profits since its listing in April 2023, with net profits of 77.04 million yuan and 60.45 million yuan for 2023 and 2024, respectively, representing year-on-year declines of 15.60% and 21.54% [3]. - For the first three quarters of 2025, the company reported total revenue of 303 million yuan, a decrease of 8.52%, and a net profit of 31.47 million yuan, down 20.69% year-on-year [3]. Group 4: Market Performance - As of December 2, 2025, Koyuan Pharmaceutical's stock price increased by 3.36%, closing at 28.90 yuan per share, with a total market capitalization of 3.13 billion yuan [4].