中经记者 苏浩 卢志坤 北京报道 针对此次控制权变更的具体事宜，记者日前向多瑞医药方面致函并致电采访，但截至发稿，暂未收到公 司方面回复，其间记者亦多次拨打公司证券部电话，均未有人接听。 控制权拟变更 据悉，本次多瑞医药控制权变更计划的相关安排通过股份协议转让结合部分要约收购的方式分步实施。 根据披露，公司现控股股东西藏嘉康及其关联方舟山清畅已与王庆太、崔子浩、曹晓兵共同签署《股份 转让协议》，约定以每股32.064元的价格，向后者转让2368万股公司流通股，占总股本的29.60%。 此外，王庆太与曹晓兵还计划发起部分要约收购，拟进一步收购1944万股，约占公司总股本的 24.30%。完成上述交易后，上述三位投资者将合计持有公司29.60%的股份及相应表决权，成为公司新 的实际控制人。 公司官网/图） （多瑞医药外景 上市四年后，这家营收腰斩、出现上市后首次年度亏损的医药公司，迎来了控制权的更迭。 近期，多瑞医药复牌并发布公告称，公司控股股东西藏嘉康时代科技发展有限公司（以下简称"西藏嘉 康"）及其一致行动人舟山清畅企业管理合伙企业（有限合伙）（以下简称"舟山清畅"）与受让方王庆 太、崔子浩、曹晓兵于2025 ...

上市四年后，这家营收腰斩、出现上市后首次年度亏损的医药公司，迎来了控制权的更迭。 近期，多瑞医药复牌并发布公告称，公司控股股东西藏嘉康时代科技发展有限公司（以下简称"西藏嘉 康"）及其一致行动人舟山清畅企业管理合伙企业（有限合伙）（以下简称"舟山清畅"）与受让方王庆 太、崔子浩、曹晓兵于2025年10月13日签署了《股份转让协议》。 《中国经营报》记者注意到，这三位股份受让人均无医药行业背景。王庆太是自行车领域的知名企业 家，崔子浩和曹晓兵则深耕建筑与科技行业。消息公布当日，多瑞医药复牌股价一度高开12.28%。 对于此次控制权转让，多瑞医药方面表示，此次控制权变更旨在"引入认可公司价值及发展前景的投资 者，让其取得公司控制权，并利用相关运营管理经验以及资源优势，助力上市公司发展"。 值得关注的是，原控股股东西藏嘉康在交易中作出了具有约束力的业绩承诺。 针对此次控制权变更的具体事宜，记者日前向多瑞医药方面致函并致电采访，但截至发稿，暂未收到公 司方面回复，其间记者亦多次拨打公司证券部电话，均未有人接听。 控制权拟变更 据悉，本次多瑞医药控制权变更计划的相关安排通过股份协议转让结合部分要约收购的方式分步实施。 ...

在河北的自行车产业里，他是白手起家的知名企业家；在医药资本市场，他是一个陌生来客。 王庆太，这位从收废铁起步，一直在自行车领域积攒身家的企业家，将成为医药上市公司多瑞医药（301075.SZ）的新实控人。 与他同行的两位一致行动人，背景也集中在建筑行业，均无医药背景。而这个"门外汉"团队将接手的多瑞医药正陷入经营困境，公司核心产品收入几近腰 斩，上市后业绩连年下滑，去年迎来了上市以来的首次年度亏损。 10月14日和15日，多瑞医药的股价受实控人将变更的消息影响呈现大幅变化。 公司将迎"造车"的新实控人 近日，多瑞医药正式公告了新实际控制人的身份。 公告显示，公司控股股东西藏嘉康及其一致行动人舟山清畅与自然人王庆太、崔子浩、曹晓兵签署了《股份转让协议》，约定由西藏嘉康及舟山清畅向受 让方合计转让上市公司29.60%的股份。本次股份协议转让的价格为32.064元/股，股份转让总价款（含税）共计人民币7.59亿元。 同时，西藏嘉康将以所持有的上市公司1944万股的无限售条件流通股份（占上市公司股份总数的24.30%）申报预受要约。自协议转让股份过户完成之日 至要约收购完成之日，西藏嘉康放弃前述股份的表决权。 本次要 ...

在河北的自行车产业里，他是白手起家的知名企业家；在医药资本市场，他是一个陌生来客。 王庆太，这位从收废铁起步，一直在自行车领域积攒身家的企业家，将成为医药上市公司多瑞医药（301075.SZ）的新实控人。 与他同行的两位一致行动人，背景也集中在建筑行业，均无医药背景。而这个"门外汉"团队将接手的多瑞医药正陷入经营困境，公司核心产品收入几近腰 斩，上市后业绩连年下滑，去年迎来了上市以来的首次年度亏损。 10月14日和15日，多瑞医药的股价受实控人将变更的消息影响呈现大幅变化。 具体来看，10月14日，公司股票复牌后，股价大幅高开，开盘即上涨超12%，当日报收42.06元/股，保持4.94%的涨幅。10月15日，多瑞医药报收45.92元/ 股，上涨了9.18%。10月16日，多瑞医药盘中快速上涨，5分钟内涨幅超过2%，一度上涨19.71%，截至午间收盘，股价涨9.82%，报50.43元。 王庆太 图片来源：视频截图 公司将迎"造车"的新实控人 近日，多瑞医药正式公告了新实际控制人的身份。 公告显示，公司控股股东西藏嘉康及其一致行动人舟山清畅与自然人王庆太、崔子浩、曹晓兵签署了《股份转让协议》，约定由西藏嘉康及舟山 ...

在河北的自行车产业里，他是白手起家的知名企业家；在医药资本市场，他是一个陌生来客。 王庆太，这位从收废铁起步，一直在自行车领域积攒身家的企业家，将成为医药上市公司多瑞医药的新实控人。 与他同行的两位一致行动人，背景也集中在建筑行业，均无医药背景。而这个"门外汉"团队将接手的多瑞医药正陷入经营困境，公司核心产品收入几近腰 斩，上市后业绩连年下滑，去年迎来了上市以来的首次年度亏损。 10月14日和15日，多瑞医药的股价受实控人将变更的消息影响呈现大幅变化。 公告显示，公司控股股东西藏嘉康及其一致行动人舟山清畅与自然人王庆太、崔子浩、曹晓兵签署了《股份转让协议》，约定由西藏嘉康及舟山清畅向受 让方合计转让上市公司29.60%的股份。本次股份协议转让的价格为32.064元/股，股份转让总价款（含税）共计人民币7.59亿元。 同时，西藏嘉康将以所持有的上市公司1944万股的无限售条件流通股份（占上市公司股份总数的24.30%）申报预受要约。自协议转让股份过户完成之日 至要约收购完成之日，西藏嘉康放弃前述股份的表决权。 本次要约收购完成后，收购人及其一致行动人最多合计持有多瑞医药53.90%股份，王庆太、崔子浩、曹晓兵将 ...

每经记者｜陈星 每经编辑｜魏官红 在河北的自行车产业里，他是白手起家的知名企业家；在医药资本市场，他是一个陌生来客。 王庆太，这位从收废铁起步，一直在自行车领域积攒身家的企业家，将成为医药上市公司多瑞医药 （301075.SZ，股价45.92元，市值36.74亿元）的新实控人。 与他同行的两位一致行动人，背景也集中在建筑行业，均无医药背景。而这个"门外汉"团队将接手的多 瑞医药正陷入经营困境，公司核心产品收入几近腰斩，上市后业绩连年下滑，去年迎来了上市以来的首 次年度亏损。 10月14日和15日，多瑞医药的股价受实控人将变更的消息影响呈现大幅变化。 具体来看，10月14日，公司股票复牌后，股价大幅高开，开盘即上涨超12%，当日报收42.06元/股，保 持4.94%的涨幅。10月15日，多瑞医药报收45.92元/股，上涨了9.18%。公司将迎"造车"的新实控人 近日，多瑞医药正式公告了新实际控制人的身份。 公告显示，公司控股股东西藏嘉康及其一致行动人舟山清畅与自然人王庆太、崔子浩、曹晓兵签署了 《股份转让协议》，约定由西藏嘉康及舟山清畅向受让方合计转让上市公司29.60%的股份。本次股份 协议转让的价格为32. ...

Core Viewpoint - Duorui Pharmaceutical is facing significant challenges, including a potential change in control, declining revenue from its core product, and increasing financial burdens due to acquisitions. The company is exploring new growth avenues while grappling with a deteriorating financial situation [1][2][3][4][5][6][7]. Group 1: Control Change - Duorui Pharmaceutical's controlling shareholder, Tibet Jiakang Times Technology Development Co., Ltd., is planning a change in control, which may lead to a shift in the company's actual controller [2][7]. - The stock was suspended from trading on September 29, 2025, with an expected suspension period of no more than three trading days [2][1]. - As of now, no formal agreements have been signed regarding the control change, and the outcome remains uncertain [2][7]. Group 2: Financial Performance - Duorui Pharmaceutical's revenue has significantly declined since its listing in 2021, with a projected revenue drop of nearly 50% by 2024 compared to its peak [3][4]. - The company reported a revenue of 1.07 billion yuan in the first half of 2025, a year-on-year decrease of 29.13%, and a net loss of 42.5 million yuan, which is a 1197.26% increase in losses compared to the previous year [4]. - The core product, sodium acetate Ringer's injection, has seen a drastic revenue decline, with sales dropping from 465 million yuan in 2021 to an estimated 12 million yuan in 2024 [3][4]. Group 3: Product Challenges - The sodium acetate Ringer's injection, which accounts for nearly 50% of the company's main business revenue in 2024, has faced declining sales due to policy changes such as medical insurance cost control and centralized procurement [3][4]. - The company has acknowledged the risk of having a single product structure, which has contributed to its financial struggles [3]. Group 4: Acquisition Strategy - To counteract declining revenues, Duorui Pharmaceutical has pursued acquisitions, including Hubei Xinchengda Chemical Co., Ltd. and Sichuan Duorui Pharmaceutical Co., Ltd., to diversify its revenue streams [5][6]. - In the first half of 2025, Hubei Xinchengda contributed 33.18 million yuan to the company's revenue, accounting for 31% of total revenue [5]. - The acquisition of Sichuan Duorui involved a significant financial commitment, leading to increased management, financial, and research expenses [6]. Group 5: Financial Burden - The company's financial obligations have increased, with total liabilities reaching 754 million yuan and an asset-liability ratio of 52.01% as of June 2025, up from 23.37% at the end of 2023 [6]. - To finance acquisitions, Duorui Pharmaceutical's subsidiary applied for a merger loan of up to 300 million yuan, with the company providing a guarantee [6].

Core Viewpoint - Three listed companies, Duori Pharmaceutical, Asia-Pacific Pharmaceutical, and Zhonghuan Environmental Protection, announced on the same day that they are planning changes in control, which may lead to changes in their controlling shareholders and actual controllers [1] Group 1: Duori Pharmaceutical - Duori Pharmaceutical's major shareholder, Tibet Jiakang Times Technology Development Co., is planning a change in control, which may lead to a change in the company's controlling shareholder and actual controller [2] - The company has experienced continuous revenue decline from 2022 to 2024, which may be a reason for the planned change in control [2] - Duori Pharmaceutical's revenue for the first half of 2025 was 107 million yuan, a year-on-year decline of 29.13%, with a net loss of 42.5 million yuan, compared to a loss of 3.27 million yuan in the same period last year [3] Group 2: Asia-Pacific Pharmaceutical - Asia-Pacific Pharmaceutical's major shareholder, Ningbo Fubang Holdings Group, is also planning a change in control, with specific transaction plans and agreements still under discussion [4] - The company has faced continuous revenue decline, with a net profit of -48.86 million yuan for the first half of 2025, a year-on-year decrease of 524.31% [5] - Asia-Pacific Pharmaceutical's revenue for the first half of 2025 was 152 million yuan, a year-on-year decrease of 31.48%, attributed to centralized procurement and intensified market competition [5]

Group 1: Control Change Announcements - Multiple A-share companies, including Duori Pharmaceutical, Asia-Pacific Pharmaceutical, and Zhonghuan Environmental Protection, announced plans for control changes on September 28 [1][3][4] - Duori Pharmaceutical's controlling shareholder, Tibet Jiakang Times Technology Development Co., Ltd., is planning a control change, leading to a potential change in the actual controller [1] - Asia-Pacific Pharmaceutical's controlling shareholder, Ningbo Fubang Holding Group Co., Ltd., is also planning a control change, with no formal agreement signed yet [3] - Zhonghuan Environmental Protection's controlling shareholder, Zhang Bozhong, is in the process of planning a control change, which may affect the actual controller [4] Group 2: Company Profiles and Operations - Duori Pharmaceutical specializes in the R&D, production, and sales of chemical drug formulations and intermediates, with leading market share in products like Acetate Sodium Ringer Injection [1] - Asia-Pacific Pharmaceutical focuses on pharmaceutical manufacturing, including the R&D and sales of chemical formulations, with a portfolio of 114 approved formulations [3] - Zhonghuan Environmental Protection is a national high-tech enterprise engaged in water environment governance and waste treatment, providing comprehensive solutions in various segments [5] - Guanzhong Ecology is undergoing a control change with a share transfer agreement to Deep Blue Whale, which will result in a new controlling shareholder [7]

Financial Performance - The company reported a revenue of 106.57 million yuan in the first half of 2025, a decrease of 29.13% compared to the same period last year [1][2] - The net profit attributable to shareholders was -42.50 million yuan, compared to -3.28 million yuan in the previous year, reflecting a significant decline [1][2] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -45.52 million yuan, compared to -0.56 million yuan in the same period last year, indicating a 711.38% increase in losses [1][2] - The net cash flow from operating activities was -26.64 million yuan, an improvement of 29.02% from -37.53 million yuan in the previous year [1][2] Historical Context - The company was listed on the Shenzhen Stock Exchange's ChiNext board on September 29, 2021, issuing 20 million shares at a price of 27.27 yuan per share, raising a total of 545 million yuan [3] - The actual net fundraising amount was 482 million yuan, exceeding the original plan by 87.67 million yuan [3] - The funds raised were intended for various projects, including the production of sodium acetate injection, new product development, and the establishment of a headquarters and R&D center in Tibet [3]