China Resources Jiangzhong lists Sanghai Pharmaceutical 51% stake for third time, reserve price down about 41% from last year

红星资本局··CN·Read original
2▲0 ▼0Impact / 5
Summary · why it matters

China Resources Jiangzhong plans to list its roughly 51% stake in Jiangxi Nanchang Sanghai Pharmaceutical through the Shanghai United Assets and Equity Exchange for the third time, with a reserve price of 27.8107 million yuan, a discount of about 41% from the 47.4498 million yuan reserve price for the same proportional stake last year. In April 2025, the full 100% equity of Sanghai Pharmaceutical was first listed with a reserve price of 99.0208 million yuan. In June of the same year, the price was lowered to 93.0308 million yuan for a second listing, but the process ended without attracting any intended transferees. China Resources Jiangzhong responded that this disposal is conducive to optimizing the asset structure and resource allocation efficiency, and will not have a material impact on its main business. Sanghai Pharmaceutical's performance has continued to decline in recent years, with revenue of only 3.51 million yuan and net profit of 370,000 yuan in 2025. In the same period, China Resources Jiangzhong achieved net profit attributable to the parent of 907 million yuan, up 15.03% year-on-year, but revenue from its core over-the-counter segment was 2.992 billion yuan, down 8.39% year-on-year, marking the first annual decline since 2016. Sales of its Jianwei Xiaoshi tablets reached 165 million boxes, a decrease of 2.36% year-on-year.

Impact on assets 3

Others▲ · 3 stocks
Jiangzhong Pharmaceutical Co Ltd
600750
± MixedCapitalrelevance

Disposal of 51% stake in Sanghai Pharmaceutical at a lower price, but stated no material impact on main business; core OTC revenue declined.

Off-coverage companies 1

江西南昌桑海制药有限责任公司 (Jiangxi Nanchang Sanghai Pharmaceutical Co., Ltd.)Private▼ Negative
Capitalrelevance

Stake listed for sale at a 41% discount, with declining performance and no buyers attracted previously.

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