从交易标的看，朗研生命成立于2010年7月14日，是一家药物研发生产商，专注于高难度首仿药、创新药研发、生产、销售一体化 服务，在研产品管线覆盖了心脑血管、肿瘤、消化、感染等适应症。 需要指出的是，本次交易对方为利虔、赣州朗颐投资中心（有限合伙）等朗研生命股东，而阳光诺和的实际控制人也是利虔，因 此此次交易构成关联交易。 星标 ★ IPO日报 精彩文章第一时间推送 4月24日晚间，北京阳光诺和药物研究股份有限公司（以下简称"阳光诺和"，688621.SH）发布公告称，公司拟通过发行股份 及可转换公司债券方式购买江苏朗研生命科技控股有限公司（以下简称"朗研生命"）100%股权，并向不超过35名特定投资者 发行股份募集配套资金。 经初步测算，本次交易预计构成重大资产重组，且构成关联交易，本次交易不会导致公司实际控制人发生变更。公司股票自2025 年4月25日开市起开始停牌，预计停牌时间不超过5个交易日。 制图：佘诗婕 曾收购失败 反观上市公司本身，阳光诺和于2021年上市，是一家专业的药物临床前及临床综合研发服务CRO，为国内医药企业和科研机构提 供全过程的一站式药物研发服务，致力于协助国内医药制造企业加速实现进 ...

Core Viewpoint - Sunshine Nuohua plans to acquire 100% equity of Jiangsu Langyan Life Science Technology Co., Ltd. through share issuance and convertible bonds, constituting a major asset restructuring and related party transaction, with no change in actual control [1][3]. Group 1: Acquisition Details - The acquisition target, Langyan Life, established in July 2010, focuses on high-difficulty generic drugs and innovative drug R&D, with product pipelines covering cardiovascular, oncology, digestive, and infectious diseases [3]. - The transaction involves shareholders including Li Qian and Ganzhou Langyi Investment Center, with Li Qian also being the actual controller of Sunshine Nuohua, thus constituting a related party transaction [3]. - Previous attempts to acquire Langyan Life were unsuccessful, with a failed acquisition plan announced in October 2022 [4][5]. Group 2: Financial Aspects - The transaction price is set at 1.611 billion yuan, with an additional 1.007 billion yuan to be raised for cash consideration and project expansions [5]. - Langyan Life's revenue was 510 million yuan in 2021 and 617 million yuan in 2022, with net profits of 37.54 million yuan and 85.13 million yuan respectively [5]. - Performance commitments from the sellers include net profits of no less than 95 million yuan, 125 million yuan, and 158 million yuan for 2023, 2024, and 2025, totaling at least 378 million yuan [5][6]. Group 3: Strategic Intent - The acquisition aims to extend Sunshine Nuohua's main business into the CDMO sector, creating an integrated service platform for clinical research and customized production, enhancing competitive strength and strategic layout [7]. - Sunshine Nuohua, listed in 2021, provides comprehensive drug R&D services, assisting domestic pharmaceutical companies in achieving import substitution and innovation [7]. - Despite a projected revenue increase of 15.7% to 1.078 billion yuan in 2024, net profits are expected to decline due to rising fixed costs and increased R&D investments [8].