Core Viewpoint - The control of Xizang Yiming Xiya Pharmaceutical Technology Co., Ltd. is set to change as the controlling shareholder Gao Fan signs a share transfer agreement with Beijing Fuhai, transferring 43,855,883 shares, representing 23% of the company's total shares, at a price of 15.10 yuan per share, totaling 662.22 million yuan [1][2]. Share Transfer Details - The share transfer involves Gao Fan transferring 43,855,883 circulating shares, which constitutes 23% of the total shares of the company (190,677,750 shares) to Beijing Fuhai at a price of 15.10 yuan per share, amounting to a total of 662,223,833 yuan [2]. - The share transfer price is based on the company's financial statements as of April 30, 2025, and considers the company's industry performance and future development prospects [2]. Rights and Obligations Post-Transfer - Upon completion of the transfer, the acquirer will enjoy the rights and obligations of a shareholder as stipulated by Chinese laws and the company's articles of association [3]. - The company reported a cumulative undistributed profit of 355,542,076.29 yuan as of the end of the first quarter of 2025, which will be shared among all shareholders according to their shareholding ratio [3]. Stock Resumption - The company's stock (trading name: Yiming Pharmaceutical, stock code: 002826) will resume trading on June 4, 2025 [4]. Company Performance Overview - Yiming Pharmaceutical has experienced significant fluctuations in net profit, with a decline of over 60% in 2023, followed by a recovery in 2024, and a further decrease in the first quarter of 2025 [5]. - The company's net profits from 2022 to 2024 were recorded at 44 million yuan, 15 million yuan, and 46 million yuan respectively [5]. - In the first quarter of 2025, the company reported operating revenue of 149 million yuan, a year-on-year decrease of 7.41%, and a net profit attributable to the parent company of 18.79 million yuan, down 32.64% year-on-year [5].

Core Viewpoint - The company is undergoing a potential change in control as the major shareholder and actual controller, Gao Fan, is planning to transfer control, which has led to a temporary suspension of trading in its shares due to significant uncertainty surrounding the matter [1][2]. Group 1: Shareholder Changes - Gao Fan, the founder of the company, holds 48.80 million shares, accounting for 25.59% of the total share capital, making him the largest shareholder [4]. - Speculation about Gao Fan's exit from the company has been ongoing for several years, especially after he stepped down from key management positions in September 2021 [5]. - Following his resignation, Gao Fan initiated a share reduction plan in June 2022, intending to sell up to 9.56 million shares, which represents 5% of the total share capital [6]. Group 2: Share Reduction History - By the end of the reduction plan in December 2022, Gao Fan had sold 635,800 shares, which is 0.33% of the total share capital [7]. - In February 2023, he announced another reduction plan, aiming to sell up to 5% of the total share capital, but later decided to terminate this plan early in June 2023, having sold 1.5353 million shares, or 0.81% of the total share capital [8]. Group 3: Company Performance - The company has shown lackluster performance since its listing in 2016, with revenues of 602.62 million, 725.46 million, 856.73 million, 667.04 million, and 651.88 million from 2020 to 2024, respectively [12]. - Net profits during the same period were 41.09 million, 43.47 million, 46.12 million, 15.73 million, and 47.46 million, indicating a significant drop in 2023 [12]. - In 2023, the company experienced a 22.14% decline in revenue and a drastic 65.9% drop in net profit, attributed to market conditions and underperformance of acquired subsidiaries [15]. Group 4: Acquisition and Impairment - The company acquired a controlling stake in Inner Mongolia Bostai Enterprise Management Service Co., Ltd. for 30.6 million, but the performance did not meet expectations, leading to a goodwill impairment of approximately 20 million [14].

Core Viewpoint - The controlling shareholder and actual controller of Yiming Pharmaceutical, Gao Fan, is planning to change the company's control, leading to a temporary suspension of the company's stock trading due to significant uncertainty surrounding the matter [1][3]. Group 1: Shareholder Information - Gao Fan, the founder of Yiming Pharmaceutical, holds 48.80 million shares, accounting for 25.59% of the total share capital, making him the largest shareholder [3]. - In September 2021, Gao Fan stepped down from his positions as chairman and general manager of the company but continued to hold a position in a subsidiary [3]. - Following his resignation, Gao Fan initiated a share reduction plan in June 2022, intending to reduce his holdings by up to 9.56 million shares (5% of total shares), but only reduced 635,800 shares (0.33%) by the end of the plan [4]. Group 2: Financial Performance - Yiming Pharmaceutical's revenue from 2020 to 2024 was as follows: 602.62 million, 725.46 million, 856.73 million, 667.04 million, and 651.88 million yuan, respectively, with net profits of 41.09 million, 43.47 million, 46.12 million, 15.73 million, and 47.46 million yuan [7]. - In 2023, the company experienced a 22.14% decline in revenue and a significant 65.9% drop in net profit [7]. - The company attributed the poor performance to changes in market conditions, industry environment, and underperformance of third-party cooperative products [8]. Group 3: Strategic Moves - Yiming Pharmaceutical had previously announced a private placement plan in April 2021, intending to raise between 200 million and 350 million yuan, but the plan was terminated four months later due to market conditions and business development considerations [6]. - The company acquired a 51% stake in Inner Mongolia Bostai Enterprise Management Service Co., Ltd. for 30.6 million yuan in August 2021, but the acquisition faced criticism due to the high premium paid [8].