Core Points - The sudden announcement of the death of Yin Zhenglong, the controlling shareholder and chairman of Shanhe Pharmaceutical Excipients, occurred on August 26, 2025, at the age of 60 [1][5][7] - Yin Zhenglong held 63,057,454 shares, accounting for 26.90% of the company's total shares, making him the controlling shareholder [7] - The company stated that Yin Zhenglong's death would not affect the normal operation of the board of directors, and the management team would continue to perform their duties [9] Company Background - Shanhe Pharmaceutical Excipients was founded in April 2001 and specializes in the production, research, and sales of new pharmaceutical excipients, currently holding a leading position in the domestic market [11] - The company was successfully listed on the Shenzhen Stock Exchange in May 2015, with a current market value of approximately 3.28 billion yuan [11] - Under Yin Zhenglong's leadership, the company grew from a small local pharmaceutical factory to a publicly listed company [10] Financial Performance - For the first half of 2025, Shanhe Pharmaceutical Excipients reported a revenue of 471 million yuan, a year-on-year increase of 4.65%, while the net profit attributable to shareholders decreased by 2.61% to approximately 93 million yuan [12][13] - The company reported a significant increase in cash flow from operating activities, which rose by 108.53% compared to the previous year [13] - The basic earnings per share decreased by 2.44% to 0.40 yuan, while diluted earnings per share fell by 5.00% to 0.38 yuan [13]

Core Viewpoint - The announcement of the passing of Yin Zhenglong, the controlling shareholder and chairman of Anhui Shanhe Pharmaceutical Excipients Co., Ltd., marks a significant event for the company, as he was instrumental in its development and growth [5][6]. Group 1: Company Overview - Anhui Shanhe Pharmaceutical Excipients Co., Ltd. specializes in the research, production, and sales of pharmaceutical excipients, including fillers, binders, disintegrants, lubricants, and coating materials [3]. - As of August 26, 2025, the company's stock price was reported at 14.34 yuan per share, with a total market capitalization of 3.4 billion yuan [4]. Group 2: Leadership Transition - Following the death of Yin Zhenglong, the company will not experience a reduction in the number of board members below the legal requirement, and the management team will continue to operate normally [7]. - Song Daocai, the current general manager, has been appointed to temporarily assume the responsibilities of chairman and legal representative until a new chairman is elected [7].

Core Viewpoint - The passing of Yin Zhenglong, the founder and chairman of Shanhe Pharmaceutical Auxiliary, marks a significant event for the company, which he led for over 20 years, establishing it as a key player in the pharmaceutical excipients industry [4][5][6]. Company Overview - Shanhe Pharmaceutical Auxiliary announced the death of its controlling shareholder and chairman, Yin Zhenglong, on August 26, 2025, at the age of 60 [1]. - The company has updated its official website to a black-and-white page as a sign of mourning [2]. - Yin Zhenglong chaired the sixth board meeting on the morning of August 26, where two key proposals were approved, including the half-year report for 2025 [4]. Leadership and Vision - As the founder, Yin Zhenglong played a crucial role in the company's growth from a local pharmaceutical factory to a publicly listed entity on the Shenzhen Stock Exchange [5]. - He emphasized the importance of "technical marketing" and "pre-marketing," advocating for sales personnel to possess technical knowledge to provide solutions to clients [4]. - Yin aimed to replace imported pharmaceutical excipients with domestic products, which was a key development goal for the company [4]. Shareholding and Management Transition - Yin Zhenglong held 26.90% of the company's shares, making him the controlling shareholder [6]. - The company stated that the inheritance of his shares will be handled according to legal regulations, and the board's operations remain unaffected [6]. - Song Daocai, a board member and general manager, has been appointed as the interim chairman and legal representative until a new chairman is elected [6].

Core Viewpoint - The passing of Yin Zhenglong, the controlling shareholder and chairman of Shanhe Pharmaceutical Auxiliary, marks a significant loss for the company and the industry, as he dedicated his life to the development of China's pharmaceutical sector and the company's growth [1][3]. Company Overview - Shanhe Pharmaceutical Auxiliary focuses on the research, production, and sales of pharmaceutical excipients, including fillers, adhesives, disintegrants, lubricants, and coating materials for oral solid dosage forms [4]. - As of August 26, the company's stock price was 14.34 yuan per share, with a total market capitalization of 3.4 billion yuan [4]. - The number of shareholders as of June 30, 2025, was 17,500 [4]. Leadership Transition - Following Yin Zhenglong's death, the company confirmed that the board of directors would remain operational, and the management team would continue its duties without disruption [4]. - The position of chairman is currently vacant, and the company will expedite the election of a new chairman in accordance with relevant laws and regulations [4]. - Until a new chairman is elected, the current director and general manager, Song Daocai, will temporarily assume the responsibilities of chairman and legal representative [4]. Contributions and Legacy - Yin Zhenglong was instrumental in transforming Shanhe Pharmaceutical Auxiliary from a local pharmaceutical factory into a publicly listed company on the Shenzhen Stock Exchange, contributing significantly to the domestic pharmaceutical excipient industry [3]. - His leadership and dedication earned him deep respect and affection from employees, and the company expressed heartfelt condolences to his family [3].

Core Viewpoint - The passing of Yin Zhenglong, the controlling shareholder and chairman of Shanhe Pharmaceutical Auxiliary, marks a significant loss for the company and the industry, as he dedicated his life to the development of China's pharmaceutical sector and the advancement of domestic pharmaceutical excipients [1][3]. Company Overview - Shanhe Pharmaceutical Auxiliary focuses on the research, production, and sales of pharmaceutical excipients, including fillers, adhesives, disintegrants, lubricants, and coating materials for oral solid dosage forms [5]. - As of August 26, 2025, the company's stock price was 14.34 yuan per share, with a total market capitalization of 3.4 billion yuan [5]. - The number of shareholders as of June 30, 2025, was 17,500 [5]. Leadership Transition - Following Yin Zhenglong's death, the company confirmed that the board of directors would remain operational and that the management team would continue to perform their duties without disruption [4]. - The company will conduct a board member election and appoint a new chairman in accordance with relevant laws and regulations. In the interim, Song Daocai, a current board member and general manager, will assume the responsibilities of chairman and legal representative [5].

Core Points - The company announced the passing of its founder and chairman, Mr. Yin Zhenglong, on August 26, 2025, at the age of 60 [1][2] - Mr. Yin was instrumental in the development of the Chinese pharmaceutical industry, focusing on domestic pharmaceutical excipients and achieving a transition from following to competing internationally [2] - The company will ensure that the board of directors remains functional and will not be affected by Mr. Yin's passing, with interim leadership provided by Mr. Song Daocai [3] Company Overview - Mr. Yin Zhenglong held 63,057,454 shares in the company, representing a significant portion of the total shares [2] - The company has a structured plan to elect a new chairman in accordance with legal regulations and its articles of association [3] - Mr. Song Daocai, currently the general manager, will temporarily assume the role of chairman until a new chairman is elected [3][5] Leadership Background - Mr. Song Daocai, aged 56, has extensive experience within the company, having held various positions since 2008, including production director and general manager [5] - He has a background in economic management and is a licensed pharmacist and engineer [5]

Core Points - The company held its seventh meeting of the sixth board of directors on August 26, 2025, with all eight directors present, confirming compliance with relevant laws and regulations [1][2]. - The board approved the 2025 semi-annual report, affirming that the report accurately reflects the company's actual situation without any false statements or omissions [1][2]. - The board also approved a special report on the management and use of raised funds for the first half of 2025, confirming compliance with regulatory requirements [2]. Summary by Sections - **Meeting Details** - The meeting was attended by all eight directors, and the notice was sent out on August 17, 2025 [1]. - The meeting was chaired by Mr. Yin Zhenglong [1]. - **Approval of Semi-Annual Report** - The board reviewed and approved the 2025 semi-annual report, ensuring its authenticity and completeness [1][2]. - Voting results showed unanimous support with 8 votes in favor [2]. - **Approval of Fund Management Report** - The board approved a special report on the management and use of raised funds, confirming adherence to relevant regulations [2]. - This report was also reviewed and approved by the audit committee prior to the board meeting [2].

Core Points - The company, Anhui Shanhe Pharmaceutical Auxiliary Co., Ltd., has issued convertible bonds to unspecified investors, with a total fundraising amount of RMB 320 million [3][4] - The bonds have a maturity period of 6 years, from June 12, 2023, to June 11, 2029, with a tiered interest rate structure [4][5] - The company has signed an investment agreement with the Huainan Economic and Technological Development Zone Management Committee to establish a high-end auxiliary material manufacturing base, with a total investment of RMB 1.05 billion [7][8] Group 1: Bond Issuance Details - The bond issuance was approved by the company's board on July 12, 2022, and by the shareholders on August 2, 2022 [3] - The bonds are issued at a face value of RMB 100 each, with a total of 3.2 million bonds issued [4] - The net proceeds from the bond issuance, after deducting issuance costs, amount to RMB 316.07 million [4] Group 2: Bond Terms and Conditions - The interest rates for the bonds are structured as follows: 0.2% for the first year, 0.5% for the second year, 1.0% for the third year, 1.5% for the fourth year, 2.0% for the fifth year, and 3.0% for the sixth year [4][5] - The bonds will pay interest annually, with the first interest payment occurring one year after the issuance date [5][6] - The initial conversion price for the bonds is set at RMB 18.25 per share, with the current conversion price at RMB 13.30 per share [6][7] Group 3: Project Investment Agreement - The investment project covers approximately 200 acres, with a total investment of RMB 1.05 billion, including RMB 600 million for fixed assets [8][9] - The project will be constructed in two phases, with the first phase covering 100 acres and an investment of RMB 450 million [8] - The project aims to establish intelligent production lines and quality inspection facilities for high-end auxiliary materials [8][9] Group 4: Regulatory and Compliance Aspects - The investment agreement requires the company to obtain necessary approvals, including environmental assessments and construction permits [11] - The agreement does not constitute a related party transaction or a major asset restructuring as per regulatory definitions [11] - The company is committed to complying with all relevant laws and regulations during the project execution [10][11]

Core Viewpoint - The announcement by the company regarding the addition of a new pharmaceutical excipient product, Mannitol Core, is expected to positively impact the company's operations in the coming years [2]. Group 1: Product Details - The newly added product, Mannitol Core, has received the registration number F20250000241 from the National Medical Products Administration [1]. - As of the announcement date, the company has a total of 47 products with CDE registration numbers [1]. - Mannitol Core is a white or off-white spherical pellet made from D-mannitol and other excipients, primarily used as a carrier for enteric-coated micro-pellets and controlled-release micro-pellets [1]. Group 2: Product Features - Mannitol Core serves as an ideal platform for drug layering due to its smooth surface and uniform particle size distribution, ensuring even and secure drug layering [1]. - It acts as an inert core for preparing controlled-release micro-pellets, allowing the release characteristics to be primarily controlled by the coating membrane [1]. - The product improves taste, as mannitol has a cooling sweetness and produces a cooling sensation upon dissolution [1]. - It enables the preparation of compound formulations, allowing different drugs to be loaded onto separate batches of Mannitol Core, thus avoiding incompatibility between different drug components and achieving varied release rates [1]. - Mannitol Core can also be used directly as an osmotic diuretic [1].

山河药辅（300452）(300452.SZ)公告，公司新增1种药用辅料产品：甘露醇丸芯获得国家药品监督管理 局药品审评中心(简称"CDE")的登记号，为F20250000241。甘露醇丸芯是由D-甘露糖醇及其他辅料制成 的白色或类白色球形小丸，主要用作肠溶微丸制剂和缓控释微丸制剂的载体，也可直接作为药物微丸。 ...