Core Viewpoint - China National Pharmaceutical Group (China Pharmaceutical) is expanding its e-commerce operations through the acquisition of 100% equity in Beijing Jinsui Technology Development Co., Ltd. for 302 million yuan, aiming to enhance its capabilities in e-commerce and transition from a pharmaceutical company to a health enterprise [1][2]. Group 1: Acquisition Details - The acquisition involves a cash payment of 302 million yuan for the complete ownership of Jinsui Technology, which specializes in e-commerce operations and has established partnerships with well-known brands like Philips and Omron [1]. - Jinsui Technology's core business includes brand authorization and distribution of personal health consumer products, with operational channels across major e-commerce platforms such as JD.com, Alibaba, Douyin, and offline channels [1]. Group 2: Financial Performance of Jinsui Technology - As of March 2025, Jinsui Technology's total assets are reported at 890 million yuan, with a net asset value of 225 million yuan [2]. - The company's revenue has significantly declined from 1.747 billion yuan in 2021 to 1.018 billion yuan in 2023, marking a decrease of 41.72% over two years [2]. - Despite the revenue decline, net profit has remained relatively stable, with figures of 46.13 million yuan in 2021, 48.19 million yuan in 2022, 52.16 million yuan in 2023, and 41.49 million yuan for the first eleven months of 2024 [2]. Group 3: China Pharmaceutical's Business Overview - China Pharmaceutical has experienced consecutive revenue and net profit growth in 2022 and 2023, but in 2024, revenue dropped to 34.148 billion yuan, a year-on-year decrease of 12.04% due to a decline in temporary medical supplies business [3]. - The company's net profit for 2024 was reported at 535 million yuan, down 48.91% compared to the previous year, influenced by non-operating land disposal gains in the prior period [3]. - In the first quarter of 2025, China Pharmaceutical's profitability showed signs of recovery, achieving a net profit of 166 million yuan, a year-on-year increase of 14.27% [3].