北京阳光诺和药物研究股份有限公司（以下简称"阳光诺和"）于近日披露了国联民生证券承销保荐有限 公司对上海证券交易所重组问询函的专项核查意见。公告显示，公司就收购朗研生命100%股权事项的 收益法评估差异、行业政策影响及交易对方关联关系等问题进行了详细说明，明确标的公司业绩预测合 理性及业绩补偿安排符合监管要求。 标的公司业绩波动后恢复增长 收益预测较前次更为谨慎 公告显示，阳光诺和曾于2023年筹划收购朗研生命100%股权后终止，主要因当时集采政策导致标的公 司产品价格下降超预期。2023年至2024年，朗研生命营业收入分别为4.63亿元、4.15亿元，扣非归母净 利润分别为0.28亿元、0.51亿元。2025年第十一批集采政策调整后，行业竞争从"唯低价"转向质量与可 持续性，标的公司业绩逐步恢复。 财务数据显示，朗研生命2024年主营业务收入4.10亿元，同比微降2.16%；2025年1-6月实现收入2.30亿 元，同比增长12.03%，其中主要新产品收入同比激增251.86%。化学制剂产品销量连续两年保持34%以 上增长，2025年上半年达28521.65万片/粒/支。 点击查看公告原文>> 声明：市场有 ...

新华制药（000756）公告，全资子公司山东淄博新达制药有限公司收到国家药品监督管理局核准签发的 盐酸伊伐布雷定片《药品注册证书》。该药品适用于窦性心律且心率≥75次/分钟、伴有心脏收缩功能障 碍的NYHAⅡ~Ⅳ级慢性心力衰竭患者，与标准治疗包括β-受体阻滞剂联合用药，或者用于禁忌或不能 耐受β-受体阻滞剂治疗时。2024年中国城市公立医疗机构盐酸伊伐布雷定片销售额约3.5亿元。 ...

Core Viewpoint - Sunshine Nuohua (688621.SH) plans to acquire 100% equity of Jiangsu Langyan Life Science Technology Co., Ltd. through share issuance and convertible bonds, marking a significant asset restructuring and related party transaction [2][3] Group 1: Transaction Details - The transaction involves a major asset restructuring and is classified as a related party transaction due to shared controlling shareholders and actual controllers [2] - Sunshine Nuohua's stock fell by 3.63% upon resumption of trading, with a market capitalization of 4.962 billion yuan [2] - The acquisition aims to enhance the company's profitability and risk resistance by extending its business into the CDMO (Contract Development and Manufacturing Organization) field, creating an integrated "CRO+CDMO" service platform [3] Group 2: Strategic Shift - The acquisition reflects a strategic shift for Sunshine Nuohua from being a service provider in drug research and development to becoming a research-driven pharmaceutical company [3][4] - The company has begun developing its own drug pipeline and is exploring new areas such as traditional Chinese medicine and pet pharmaceuticals [4] Group 3: Financial Performance - Sunshine Nuohua's revenue growth is projected at only 15.70% for 2024, the lowest in its history, with a decline in net profit for the first time [4] - In Q1 2025, the company reported an 8.49% decline in revenue to 231 million yuan and a 59.34% drop in net profit to 30 million yuan [4] - R&D expenses have increased significantly, with a 39.02% rise in 2024 and a 7.32% increase in Q1 2025 [4] Group 4: Acquisition Challenges - The previous acquisition attempt was withdrawn due to significant changes in market conditions, and Langyan Life's performance has deteriorated, with a projected revenue drop of approximately 24.65% in 2023 [6][8] - Langyan Life's revenue for 2023 is expected to be 465 million yuan, down from 617 million yuan in 2022, with net profit also declining [6][7] - The high valuation of Langyan Life during the previous acquisition attempt may not be sustainable given its current financial struggles [8][10]