Author | Zhang Yuanke, China Business News
At about 9:20 on May 31, 2022, a fire occurred in the newly built workshop of Zhejiang Minohua Pharmaceutical Chemical Co., Ltd. (603538.SH) located in Shangyu Economic and Technological Development Zone, Hangzhou Bay.
A relevant person from the company said that the fire point was an empty workshop where solvents were stacked, not a non-operating workshop.
The reporter learned from peer practitioners that Minovar's practice of stacking solvents in transfer workshops is relatively common in the industry.
"Because the solvent itself is flammable and explosive, many factories will choose to place it in a transfer warehouse before processing waste solvent, and then dispose or recycle it to professional institutions." The person told the first financial reporter.
According to the 2021 annual report, during the reporting period, Zhejiang Meinova added “Technology Improvement and Biogas Boiler Construction Projects for API Intermediates of Zhejiang Menova Pharmaceuticals Co., Ltd.” "Solvent Recovery Project" 2 projects, the project has completed the EIA approval.
According to the data, Minovar has the largest increase of more than five times in the past four years, and the stock is also famous because of the new crown.
Previously, Minovar issued an announcement on operating data. Since the beginning of 2022, the production and operation of the company's CDMO business, preparation business, and new crown drug business have maintained strong growth, and the company's business has shown a momentum of rapid growth.
According to the company's preliminary calculation, the company's operating income from January to February 2022 is about 253.37 million yuan, a year-on-year increase of 54%; the net profit is about 60.55 million yuan, a year-on-year increase of 416%.
In addition, the company also signed a ten-year strategic cooperation agreement with the well-known pharmaceutical company Merck & Co.
Shortly after the fire, Minovar's shares fell by the limit.
As of the time of writing, Minovar's stock price fell 8.8% to 38.86 yuan per share.
According to the release of the Hangzhou Bay Comprehensive Management Office of Shangyu District, Shaoxing City, after the accident, emergency response at the two levels in the urban area was immediately carried out and on-site rescue work was carried out.
According to preliminary investigations, the fire was caused by organic solvents.
According to on-site inspections, no one was trapped and no casualties were reported.
At present, emergency fire-fighting and rescue work is being carried out under the guidance of the expert group to prevent secondary disasters.
The exact cause of the accident is under investigation.