知名基金经理葛兰的最新动向曝光。 奥浦迈（688293）最新披露的前十大股东情况显示，2025年三季度以来，葛兰管理的中欧医疗健康混合基金加仓。同时，基本养老保险基金一六零三二组 合也进行了增持操作。不过，近期医药板块持续调整，多位基金经理表示，医药行业投资难度有所提升，未来更考验基金经理的选股能力。 葛兰出手加仓 2月9日，奥浦迈发布《关于发行股份及支付现金购买资产并募集配套资金之发行结果暨股本变动的公告》，其最新前十大股东情况浮出水面。截至2月5 日，葛兰管理的中欧医疗健康混合基金持有奥浦迈434万股，较2025年9月底增加33.14万股。 梳理发现，2025年9月底，中欧医疗健康混合基金新进为奥浦迈前十大股东，持股数量为400.86万股。 除了葛兰以外，基本养老保险基金一六零三二组合增持奥浦迈120万股，赵蓓管理的工银瑞信前沿医疗股票基金增持9.99万股。 奥浦迈是一家专门从事细胞培养产品与服务的企业。根据奥浦迈此次发布的公告，公司拟通过发行股份及支付现金方式购买澎立生物100%股权。具体来 看，公司将向25名交易对方首期一次性发行股份，上述新增股份合计1621.59万股，发行股票价格31.57元。 从 ...

Core Viewpoint - Aopu Mai's acquisition of 100% equity in Pengli Biopharmaceutical Technology (Shanghai) Co., Ltd. for a total of 1.451 billion yuan is progressing, but concerns arise due to the expected goodwill of approximately 555 million yuan and the declining performance of Pengli Biopharmaceutical [1][3][4]. Group 1: Acquisition Details - The acquisition involves issuing shares and cash payments to 31 parties for the purchase of Pengli Biopharmaceutical's equity, with a transaction price of approximately 1.451 billion yuan [3]. - As of December 31 last year, Pengli Biopharmaceutical's book value of equity was 927 million yuan, with an assessed value of 1.452 billion yuan, resulting in an assessed increase of 525 million yuan, representing a 56.62% increase [3][4]. - Aopu Mai aims to leverage Pengli's clinical research client resources to promote its cell culture products and biopharmaceutical CDMO services, thereby expanding its potential customer base and early-stage research pipeline [3]. Group 2: Financial Implications - The expected goodwill of approximately 555 million yuan will account for 13.74% of Aopu Mai's total assets and 19.55% of its net assets as of the end of last year, and it represents 849.41% of the projected net profit for 2024 [4]. - Pengli Biopharmaceutical's revenue for 2023-2024 and the first half of this year was 318 million yuan, 331 million yuan, and 187 million yuan, with net profits of 59.75 million yuan, 44.51 million yuan, and 23.86 million yuan, respectively [5][6]. - The gross profit margins for Pengli Biopharmaceutical's main business were 47.3%, 42.98%, and 43.58%, indicating a decline due to factors such as revenue structure and pricing [6]. Group 3: Performance Risks - The independent director, Tao Hua'an, has repeatedly voted against the acquisition, expressing concerns about the necessity of the merger at this stage, which adds uncertainty to the transaction [1][8]. - The performance of Pengli Biopharmaceutical is under scrutiny, as its profitability is influenced by various factors, including policy environment and market demand, raising the risk of not meeting the promised net profit targets for 2025-2027 [6][7]. - Aopu Mai's own performance has shown a decline over the past two years, with revenues of approximately 243 million yuan, 297 million yuan, and 272 million yuan, and net profits of approximately 54 million yuan, 21 million yuan, and 49 million yuan for the same periods [7].

Core Viewpoint - Aopu Mai (688293) is progressing with its acquisition of 100% equity in Pengli Biopharmaceutical Technology (Shanghai) Co., Ltd. for a total of 1.451 billion yuan, but faces concerns regarding goodwill impairment and the declining performance of the target company [1][5][6]. Group 1: Acquisition Details - The acquisition involves issuing shares and cash payments to 31 parties for the purchase of Pengli Biopharmaceutical's equity, with a transaction price of approximately 1.451 billion yuan [5]. - After the transaction, Aopu Mai expects to add about 555 million yuan in goodwill, which represents 13.74% of the total assets and 19.55% of the net assets as of the end of 2024 [6]. - The valuation of Pengli Biopharmaceutical shows an increase of 5.25 billion yuan, with a valuation rate of 56.62% [5]. Group 2: Financial Performance of Target Company - Pengli Biopharmaceutical's revenue for 2023, 2024, and the first half of 2025 is projected to be 318 million yuan, 331 million yuan, and 187 million yuan, respectively, with net profits of 59.75 million yuan, 44.51 million yuan, and 23.86 million yuan [7]. - The gross profit margins for Pengli Biopharmaceutical are 47.3%, 42.98%, and 43.58% for the same periods, indicating a decline due to various factors [7]. - The performance commitment agreement stipulates that the target company must achieve net profits of at least 52 million yuan, 65 million yuan, and 78 million yuan for the years 2025 to 2027 [7]. Group 3: Independent Director's Concerns - Independent director Tao Hua'an has consistently voted against the acquisition, expressing that the company does not currently need to pursue mergers and acquisitions [9]. - The independent director's repeated opposition raises concerns about the transaction's acceptance and potential uncertainties [9]. - The board's approval of the revised acquisition proposal occurred despite the independent director's dissenting votes, indicating a divide in opinion regarding the merger's necessity [9].

Group 1 - The core viewpoint of the news is that Aopumai's stock price increased by 5.01% to 61.44 CNY per share, with a total market capitalization of 6.976 billion CNY as of the report date [1] - Aopumai Biotechnology Co., Ltd. was established on November 27, 2013, and went public on September 2, 2022. The company primarily engages in cell culture products and services, with revenue composition being 87.34% from products, 12.53% from services, and 0.13% from other sources [1] Group 2 - Among Aopumai's top ten circulating shareholders, one fund from China Europe Fund, the China Europe Medical Health Mixed A (003095), entered the top ten in the second quarter, holding 1.4824 million shares, which is 1.92% of the circulating shares. The estimated floating profit today is approximately 4.3435 million CNY [2] - The China Europe Medical Health Mixed A (003095) fund was established on September 29, 2016, with a latest scale of 15.638 billion CNY. Year-to-date returns are 31.78%, ranking 2963 out of 8173 in its category; the one-year return is 47.69%, ranking 3188 out of 8003; and since inception, the return is 127.43% [2] Group 3 - The fund managers of China Europe Medical Health Mixed A (003095) are Ge Lan and Zhao Lei. As of the report date, Ge Lan has a cumulative tenure of 10 years and 243 days, with a total fund asset size of 39.908 billion CNY, achieving a best fund return of 122.55% and a worst return of -35.13% during the tenure. Zhao Lei has a tenure of 84 days, with a fund asset size of 30.801 billion CNY, achieving a best return of 15.73% and a worst return of 15.53% during the tenure [3]