Core Viewpoint - The largest shareholder of Amgen Pharmaceuticals, Genie Pharma, has initiated a strong counteraction by proposing the removal of the chairman and two other directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [1][3]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions, including a proposed capital increase, at the upcoming shareholder meeting scheduled for 2025 [1]. - Genie Pharma has proposed to remove ZHENGYU YUAN (袁征宇) and two other directors, citing their failure to fulfill their responsibilities and protect shareholder interests [3][11]. - The proposed new directors include individuals currently associated with BioVeda, a significant stakeholder in Genie Pharma [13]. Group 2: Financial Performance - Amgen Pharmaceuticals has reported significant financial losses since its inception, with cumulative losses exceeding 1.3 billion yuan from 2021 to 2024 [3]. - The company's revenue has shown growth, reaching 130 million yuan in 2024, but net profit losses have also increased, with losses of 441 million yuan reported for the same year [3]. - The company's cash flow from operations has been negative for several consecutive years, indicating ongoing financial distress [3][6]. Group 3: Corporate Governance Issues - Genie Pharma has raised concerns about the management's capabilities, stating that the company is at risk of delisting due to its high debt ratio of approximately 60% and a significant decline in net assets since its IPO [6]. - The company has faced delays in its IPO fundraising projects, which has adversely affected its operational performance [6][7]. - There are allegations of poor judgment regarding strategic partnerships, particularly with Haiqing Pharmaceuticals, which has faced regulatory penalties [8][9][10].

Core Viewpoint - Genie Pharma, the largest shareholder of Amgen Pharmaceuticals, has initiated a strong counteraction by proposing the removal of the chairman and two other directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [1][6]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions, including a capital increase proposal, at the upcoming shareholder meeting scheduled for 2025 [1]. - The proposal includes the removal of ZHENGYU YUAN (Yuan Zhengyu), the current chairman and general manager, along with two other directors, and the election of three new directors [1][6]. - Genie Pharma's actions are a response to perceived failures in governance and management, particularly regarding the company's financial performance and operational decisions [6][12]. Group 2: Financial Performance - Amgen Pharmaceuticals has reported significant financial losses since its IPO, with cumulative losses exceeding 1.3 billion yuan from 2021 to 2024 [6][9]. - The company's revenue has shown growth, from 7.66 million yuan in 2021 to 130 million yuan in 2024, but net profit losses have also increased, reaching 441 million yuan in 2024 [6][9]. - As of June 2025, the company's asset-liability ratio has risen to approximately 60%, with net assets declining by 74.19% since its listing [9]. Group 3: Strategic Concerns - Genie Pharma has raised concerns about the delayed progress of IPO fundraising projects, which has hindered the company's operational expectations [9]. - The company has faced challenges in meeting financing conditions, leading to a loss of financing capabilities [9]. - There are concerns regarding the strategic partnership with Haiqing Pharmaceuticals, which has faced regulatory penalties, raising questions about compliance and business viability [10][12].

Core Viewpoint - The company Mengke Pharmaceutical plans to issue shares to Haiqing Pharmaceutical, which will result in a change of control, with Haiqing holding 20% of the shares and becoming the controlling shareholder [6] Group 1: Share Issuance Details - Mengke Pharmaceutical intends to issue up to 163,901,373 shares at a price of 6.30 yuan per share, raising a total of no more than 1.033 billion yuan, which will be used for daily R&D and operational investments [2][4] - The issuance is aimed at enhancing the company's commercialization capabilities and expanding product sales, as the company currently has limited sales coverage and only one product on the market [4][8] Group 2: Financial Performance - Mengke Pharmaceutical's revenue for 2022, 2023, and 2024 is projected to be 482.07 million yuan, 907.76 million yuan, and 1.30 billion yuan, respectively, with a net profit of -220 million yuan, -421 million yuan, and -441 million yuan [8] - The company has maintained high R&D expenditures, with amounts of 150 million yuan, 345 million yuan, and 369 million yuan for the same years, representing 321%, 379%, and 284% of revenue [8] Group 3: Opposition to the Share Issuance - A board member opposed the share issuance, questioning the fairness, reasonableness, and synergy of the transaction, as well as the clarity of the fundraising plan [5][7] - The board member highlighted the existence of other potential investors with strong collaboration intentions, suggesting that the company did not conduct sufficient investigation and negotiation [7] Group 4: Haiqing Pharmaceutical Overview - Haiqing Pharmaceutical is a research-driven modern pharmaceutical enterprise, focusing on chemical preparations and active pharmaceutical ingredients, with significant market share in the vitamin D2 prescription drug sector [2] - The company has provided over 200 pharmaceutical research or clinical trial services to more than 100 enterprises, including major domestic pharmaceutical companies [2]

Core Viewpoint - Mengke Pharmaceutical plans to raise no more than 1.033 billion yuan through a targeted private placement, with the funds allocated entirely for daily research and operational investments [1][2] Group 1: Fundraising and Shareholding Changes - The targeted placement will involve Nanjing Haiqing Pharmaceutical Co., which will acquire a 20% stake in Mengke Pharmaceutical, making it the controlling shareholder and changing the company's previous status of having no controlling shareholder [1][3] - The fundraising aims to supplement operational funds, promote business development, ensure research investment, and enhance the company's core competitiveness [2] Group 2: Strategic Cooperation and Industry Position - Mengke Pharmaceutical and Haiqing Pharmaceutical signed a strategic cooperation agreement to collaborate in product commercialization, production synergy, research innovation, and capital cooperation [4] - Haiqing Pharmaceutical, as an industrial investor, is expected to enhance Mengke Pharmaceutical's commercialization capabilities and improve sales scale and efficiency [5] Group 3: Research and Development Pipeline - Mengke Pharmaceutical has several antibacterial new drugs in clinical development, including MRX-4 and MRX-8, which require substantial funding for their advancement [2][6] - The funds raised will accelerate the development of the company's research pipeline and facilitate the commercialization of research outcomes [6]