新理益筹划重大事项，面临退市的*ST天茂将停牌。 退市危机中的*ST天茂(000627)似乎迎来了新转机，控股股东新理益集团有限公司（简称"新理益"）8月6日晚间宣布筹划"重大事项"。 截至8月6日，*ST天茂仍未披露财报。据*ST天茂介绍，目前公司正常经营，公司定期报告涉及的部分信息仍在进一步核实、补充完善中，定期报告编制 工作尚未完成。 "公司会尽最大努力加强与各方的沟通，组织有关人员抓紧完成定期报告的编制工作，尽快完成公司2024年年度报告和2025年第一季度报告的披露。" *ST 天茂方面此前曾表示。 *ST天茂作为投资控股型公司，主要通过控股子公司国华人寿和华瑞保险从事保险业务。国华人寿作为一家全国性寿险公司。2007年11月，刘益谦控制的 天茂集团主导发起设立国华人寿。至去年6月底，国华人寿在全国各地开设18家分公司等共计111家分支机构，总资产2715.99亿元，净资产262.2亿元。 在盘面上，*ST天茂自7月8日至今累计下跌超40%，目前股价1.45元/股，总市值71亿元。不过在近两日，*ST天茂股价出现7月后少见的二连涨，累计上涨 超4%。截至2024年三季度末，*ST天茂仍有股东超12万 ...

Core Viewpoint - Sihuan Bio is facing a critical survival challenge due to poor performance and a risk of delisting, following significant management changes and a new controlling shareholder [2][8]. Group 1: Management Changes - Sihuan Bio's board received resignation letters from key executives, including the chairman and independent directors, leading to a complete management overhaul [2]. - Chen Long has been appointed as the new general manager, with Liu Xiaofeng, Wei Linfu, and Zhou Yang taking on vice president roles [2]. Group 2: Financial Performance - In 2024, Sihuan Bio reported revenue of 204 million yuan, a year-on-year decline of 13.55%, and has faced cumulative losses of nearly 270 million yuan over four years [2][10]. - The company has triggered delisting warnings due to negative net profits and revenues below 300 million yuan [2][14]. - The pharmaceutical segment generated 198 million yuan, accounting for 97.34% of total revenue, but also saw a decline of 12.33% [9]. Group 3: Shareholder Changes - The former controlling shareholder, Lu Keping, was sentenced for insider trading, leading to the judicial auction of his 27.78% stake, which was acquired by Fujian Bihui Agricultural Investment Co., Ltd. for 388 million yuan [6][10]. - The new controlling shareholder, Qiu Weibin, has not yet disclosed specific plans for resource injection or strategic direction for Sihuan Bio [7]. Group 4: Industry Challenges - Sihuan Bio is grappling with a dual crisis of "industry decline and governance failure," with its pharmaceutical products facing intense competition and price controls due to healthcare policies [8][10]. - The company has seen a consistent decline in revenue and net profit from 2021 to 2023, with losses increasing significantly in 2024 [9][10]. Group 5: Future Outlook - Sihuan Bio must achieve over 300 million yuan in revenue and positive net profit by 2025 to avoid delisting, presenting a significant challenge for the new management team [2][14]. - The company has increased R&D spending to 9.05 million yuan in Q1 2025, indicating a commitment to innovation despite ongoing financial pressures [10][11].