Core Viewpoint - The largest shareholder of Amgen Pharmaceuticals, Genie Pharma, has initiated a strong counteraction by proposing the removal of the chairman and three directors, while also publicly soliciting voting rights to oppose several resolutions at the upcoming shareholder meeting [2][6]. Group 1: Shareholder Actions - Genie Pharma voted against multiple resolutions at the extraordinary general meeting scheduled for 2025, including a proposed capital increase [2]. - Genie Pharma has proposed to remove ZHENGYU YUAN (the current chairman and general manager) and three other directors, while nominating three new candidates for the board [2][6]. - The company has been without a controlling shareholder or actual controller since its listing in August 2022, with Genie Pharma and Amgen Hong Kong being the two largest shareholders [2][17]. Group 2: Financial Performance - Amgen Pharmaceuticals has faced significant financial challenges, with net cash flow from operating activities showing negative figures from 2022 to mid-2025, totaling -2.4 billion, -3.29 billion, -4.47 billion, and -1.21 billion respectively [6]. - The company's revenue has increased over the years, but net profit losses have also expanded, with cumulative losses exceeding 1.3 billion from 2021 to 2024 [6]. - As of June 2025, the company's asset-liability ratio reached approximately 60%, and its net assets have decreased by 74.19% since its listing [9]. Group 3: Governance Issues - Genie Pharma criticized ZHENGYU YUAN for failing to fulfill his responsibilities, leading to long-term losses and the risk of delisting [6][9]. - The company has experienced significant delays in the progress of its IPO fundraising projects, which has adversely affected its operations [10]. - There are concerns regarding the strategic investment choices made by the company, particularly in relation to its collaboration with Haiqing Pharmaceuticals, which has faced regulatory penalties [12][14].