Within a month, Bio-Valley, a concept stock of phyllostachys, was supervised twice and was questioned three times.
On the evening of May 24, Bio Valley announced that due to the company's controlling shareholder and actual controller suspected of violations of laws and regulations in information disclosure, the China Securities Regulatory Commission (CSRC) will impose on the controlling shareholder Shenzhen Jinshajiang Investment Co., Ltd. (hereinafter referred to as "Jinshajiang") and the actual controller Lin. Yanhe has filed a case, and it has also become the first company to be filed for investigation since the Beijing Stock Exchange opened.
Not long ago, when the news of "Chinese scientists discovered new drugs for the treatment of new crowns" fermented, and when Qianjintiansu gradually attracted the attention of the market, Bio Valley also responded to the daily limit of "one".
What happened to Bio Valley?
Beijing Stock Exchange's first investigation
After the Beijing Stock Exchange and the Yunnan Securities Regulatory Bureau issued an inquiry letter and an order to correct the decision, on the evening of May 24, Bio Valley received a case filing notice from the China Securities Regulatory Commission, because the controlling shareholder and actual controller of Bio Valley were suspected of information disclosure. For violations of laws and regulations, the China Securities Regulatory Commission will file a case against the controlling shareholder Jinsha Jiang and the actual controller Lin Yanhe.
It is also the first company under investigation since the Beijing Stock Exchange opened.
Since May, the Bio Valley has been turbulent.
On May 5, the Yunnan Securities Regulatory Bureau announced its decision on taking corrective measures against Shenzhen Jinshajiang Investment Co., Ltd., requiring rectification for the company's occupation of Bio Valley funds.
On May 11, Bio Valley received a letter of inquiry from the Beijing Stock Exchange due to the high proportion of the major shareholder's pledge of equity.
It is understood that Lin Yanhe, the actual controller and shareholder of Bio Valley, pledged 21.55 million shares of Bio Valley, accounting for 16.84% of the company's total share capital and 100% of its shares in Bio Valley.
The controlling shareholder Jinsha River pledged 18.29 million shares of Bio Valley, accounting for 14.29% of the company's total share capital and 60.97% of its shares in Bio Valley.
The above-mentioned shares were pledged to Haiguoxin Kinetic Energy, the second largest shareholder of Jinsha River, because Haiguo Xin Kinetic Energy signed an agreement with Lin Yanhe, stipulating that Lin Yanhe would be assigned 27.52% of Jinsha River's equity in order to ensure the transfer of equity. The price was paid on schedule, and Lin Yanhe and Jinshajiang were required to pledge their equity in Bio Valley.
The Beijing Stock Exchange required Bio Valley to explain the reasons and rationality for Lin Yan and the transferee Haiguoxin Kinetic Energy to hold 27.52% of Jinsha River's equity, and to list the main terms of the equity transfer agreement.
On the evening of May 25, Bio Valley replied to the inquiry letter issued by the Beijing Stock Exchange on May 11, saying, “Bio Valley held a board of directors on April 27. The entrusted third-party wealth management products purchased by the company occupy a total of 277 million yuan of Bio Valley funds and are disclosed in the "2021 Annual Report" and "The Board of Directors' Self-inspection Report on the Occupation of Non-operating Funds by Related Parties of Controlling Shareholders and Rectification Plan", but Lin Lin Yanhe did not inform Haiguo New Kinetic Energy of the matter in time. Haiguo New Kinetic Energy was unaware of the capital occupation, and after learning about the matter from public information, he stated that he would terminate the cooperation and withdraw from the Jinsha River. After Haiguo New Kinetic Energy and Lin Yan He negotiated to sign an equity transfer agreement on May 1, 2022, and Lin Yanhe received a 27.52% stake in Jinsha River held by Haiguoxin Kinetic Energy at a price of 228,175,300 yuan.
In addition, due to the capital occupation of the controlling shareholder, the Beijing Stock Exchange requires Bio Valley to explain whether the occupied funds involve raised funds, the source and timing of Jinshajiang's repayment of the occupied funds, and whether there are major defects in the internal control system of the listed company, etc. question.
On May 20, the Beijing Stock Exchange issued an inquiry letter for the annual report to Bio Valley, covering ten issues including operating performance, sales expenses and accrued expenses, accounts receivable, and construction in progress.
Economist Song Qinghui said in an interview with a reporter from Beijing Business Daily that the illegal use of funds by the controlling shareholder of Bio Valley has a great impact, and has been suspected of hollowing out the listed company. At the same time, it has seriously damaged the interests of small and medium investors. major hazard.
With the regulatory authorities focusing on this aspect, a demonstration effect of market deterrence has been formed.
The leading product has nothing to do with fenugreek
Just this month, Professor Tong Yigang, Dean of the School of Life Science and Technology of Beijing University of Chemical Technology, obtained the national invention patent authorization for a research on fenugreek.
The patent specification shows that 10 μM (micromol/L) of fenugreek tablets inhibits the replication of coronavirus by a factor of 15,393.
Tong Yigang said that from the current research data, the drug's ability to inhibit the new coronavirus ranks high among all the new coronavirus inhibitors discovered by humans.
Due to the equipment and technical conditions for the production of fenugreek tablets, Bio Valley joined the concept stock of fenugreek, and the stock price also experienced a phased surge. However, after 2004, Bio Valley did not continue to produce fenugreek tablets.
As a high-tech pharmaceutical enterprise mainly engaged in the research, production and sales of modern Chinese medicine, Dengzhan Shengmai Capsules and Dengzhan Xixin Injection and other Dengzhanhua series medicines are the leading products of Bio Valley.
In April 2022, Bio Valley disclosed its 2021 annual report, which is also the company's first annual report after landing on the Beijing Stock Exchange. It achieved operating income of 566 million yuan, a year-on-year increase of 25.45%, and a net profit of 83.49 million yuan, a year-on-year increase. 11.41%.
The two leading products contributed nearly 98% of Bio Valley's revenue.
In 2021, Dengzhan Shengmai Capsules will achieve revenue of 371 million yuan, and Dengzhan Asarum injection will achieve revenue of 182 million yuan.
The uniqueness of a single product makes the anti-risk ability of Bio Valley in doubt.
At present, centralized procurement has accelerated and expanded on the basis of normalization and institutionalization.
In April this year, the first batch of inter-provincial alliances of proprietary Chinese medicines in Hubei Province focused on the procurement and use of Chinese patent medicines, with a clear 2-year procurement cycle.
The average price dropped by 42.27%, and the biggest drop was 82.63%.
Traditional Chinese medicine injections are also a key area of monitoring.
As a product of the "modernization" of traditional Chinese medicine at the beginning, traditional Chinese medicine injections make up for the shortcomings of traditional Chinese medicine orally or other methods of administration.
However, due to rebates and some adverse events, this market has been heavily monitored in recent years.
Since 2016, provincial and municipal health and health commissions have successively issued key monitoring catalogs, including Chinese patent medicines with large clinical dosages and whose safety needs to be further verified.
Rebates are also a major concern of the North Exchange.
In the enquiry letter of the annual report, the Beijing Stock Exchange asked Bio Valley to explain whether the company and market promoters have committed commercial bribery in the process of market promotion, and whether the company has formulated relevant internal control measures to prevent commercial bribery and implemented them effectively.
At present, despite the overall performance growth, the leading products of Bio Valley are starting to weaken.
In 2021, the gross profit margin of Biogu Dengzhan Shengmai Capsules sold for 371 million yuan will drop by 1.03%.
Industry insiders said that in recent years, there have been some adverse events in the industry, and the state has issued intensive regulatory policies in this regard, and the transformation of traditional Chinese medicine injection enterprises is inevitable.
In addition, on May 25, the share price of Bio Valley has dropped to 9.35 yuan per share, down 3.61% from the previous day.
In response to relevant questions, a reporter from Beijing Business Daily contacted Bio Valley, but did not receive a reply as of press time.
Bio Valley stated in its 2021 annual report that the company will continue to focus on creating competitive products such as Dengzhan Shengmai Capsules to drive the sales growth of Dengzhanhua series products, and accelerate the expansion of cooperation with professional sales agencies to explore chronic disease management models. , laying out an efficient and empowering digital marketing system, etc., to meet the challenges of future market competition.
Reporter丨Yao Qian