Not "incense"? Xiangxue Pharmaceutical "sold its son" again, and the net profit in the first three quarters shrank by nearly 90%.

Zhongxin Jingwei, December 15 (Lin Wansi) On the evening of December 14, Xiangxue Pharmaceutical (hereinafter referred to as Xiangxue Pharmaceutical) announced that Guangzhou Xiangxue Health Industry Equity Investment Management Co., Ltd., a wholly-owned subsidiary, and Guangzhou Huayao Business Management Co., Ltd. (hereinafter referred to as Huayao Commerce) signed an equity transfer agreement to transfer 100% of the equity of its subsidiary Guangdong Jiuji Daily Health Products Co., Ltd. (hereinafter referred to as Jiuji Daily) to Huayao Commerce for 33 million yuan.

As for the reasons for the transfer of the nine poles for daily use, Xiangxue Pharmaceutical said that it is to further focus on the development of the main business, integrate and optimize the asset structure and resource allocation, improve the liquidity and efficiency of assets, and enhance the core competitiveness.

According to the announcement, Jiuji Daily Use was established in 1999, and its business scope includes the production and sale of health food, the sale of health care equipment, daily chemicals, cosmetics, research and development of health care products, and the provision of health care product consulting services and beauty consulting services.

As of November 30, 2021, jiuji daily total assets had a book value of 147 million yuan, total liabilities of 137 million yuan, and net assets of 10.1488 million yuan. In the first 11 months of this year, the net profit of Jiuji Daily Use was 1.1161 million yuan.

According to the announcement, the appraisal value of the total assets of Jiuji Daily was 169 million yuan, with an appreciation of 22.0643 million yuan and an appreciation rate of 14.99%; the appraisal value of total liabilities was 137 million yuan, with no increase or impairment in the appraisal; the appraisal value of net assets was 32.2131 million yuan, with an appreciation of 22.0643 million yuan, with an appreciation rate of 217.41%.

On December 6, Xiangxue Pharmaceutical announced that it signed an equity transfer agreement with Yue Min Investment (Guangzhou) Financial Investment Co., Ltd. to transfer 100% of the equity of its wholly-owned subsidiary, Guangzhou Xiangxue Biomedical Engineering Co., Ltd. (hereinafter referred to as "Biological Engineering Company"), for a transfer price of 18 million yuan.

According to the announcement, as of October 31, 2021, the total liabilities of the bioengineering company were 153 million yuan, and the net profit loss for the first 10 months of this year was 1.34 million yuan. Xiangxue Pharmaceutical also said that the transfer of the equity of the subsidiary is to divest non-core business assets, and it can focus more on the development of the main business in the future.

On October 15, Xiangxue Pharmaceutical transferred 100% of the equity of its wholly-owned subsidiary, Guangdong Zhaoyang Biotechnology Co., Ltd. (hereinafter referred to as Zhaoyang Biotechnology) after its separation, to SSGKC (Guangzhou) Investment Group Co., Ltd. for RMB 19.9494 million. As of September 14, 2021, Zhaoyang Bio had total liabilities of 93.0586 million yuan.

According to the official website, Xiangxue Pharmaceutical was founded in 1997 and listed on the Growth Enterprise Market of the Shenzhen Stock Exchange in 2010, and was previously rated as one of the top 100 enterprises in China's pharmaceutical industry. According to the financial report, Xiangxue Pharmaceutical is a pharmaceutical enterprise with proprietary Chinese medicine pharmaceutical and research and development as the main business, integrating Western medicine pharmaceuticals, biomedical engineering and medicinal material specifications, and its pharmaceutical products include proprietary Chinese medicines (antiviral oral liquid, banlan root granules, orange red series), Chinese medicine tablets, chemical drugs, of which antiviral oral liquid is its original innovative drug.

In addition to the successive sale of subsidiaries, the decline in the performance of Xiangxue Pharmaceutical is also worrying.

According to the 2020 annual report, due to the impact of the epidemic, the market demand for Xiangxue pharmaceutical products increased significantly, and the operating income increased by 10.26% year-on-year during the reporting period, the total profit increased by 41.91% year-on-year, and the net profit attributable to the shareholders of the listed company increased by 28.63% year-on-year.

With the effective control of the domestic epidemic, the sharp decline in market demand, sales decline, cost rise, according to the 2021 semi-annual report of Xiangxue Pharmaceutical, the company's operating income fell by 15.47% year-on-year, and the net profit attributable to shareholders of listed companies fell by 64.36%. In terms of products, the operating income of the star product antiviral oral liquid fell the most, decreasing by 47.86% year-on-year.

In the first three quarters of this year, the performance of Xiangxue Pharmaceutical still showed no signs of improvement, with operating income falling by 10.34% year-on-year, net profit attributable to shareholders of listed companies shrinking by 88.58%, and net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses decreasing by 110.81%.

As of the noon close, Xiangxue Pharmaceutical rose slightly by 0.78%, quoting 6.46 yuan. (Zhongxin Jingwei APP)

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