baccarat1688| 30 billion yuan, the controlling shareholder violated the rules

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On the evening of May 23, Renfu Pharmaceutical (rights protection) announced that the controlling shareholder Wuhan Contemporary Science and Technology Industry Group Co., Ltd. (hereinafter referred to as "Contemporary Technology") was warned by the Shanghai Stock Exchange for illegal reduction of its holdings.

A few days ago, on the evening of May 17, Contemporary Science and Technology also received a warning letter from Hubei Securities Regulatory Bureau. In just seven days, contemporary technology has been warned twice by regulation.

On May 24, Renfu Pharmaceutical fell 0. 5%.Baccarat1688.71%, the share price is 19.7 yuan, and the total market capitalization is 32.16 billion yuan. Renfu Pharmaceutical business covers drugs and medical devices, which is called anaesthesia leader by brokers. Since last year, the controlling shareholder, Contemporary Technology, has been "named" by regulators many times. What is the specific situation?

baccarat1688| 30 billion yuan, the controlling shareholder violated the rules

Be warned by supervision twice in 7 days

He has been called by roll call many times before.

Contemporary Technology, the controlling shareholder of Renfu Pharmaceutical, has been warned twice in seven days by regulation, which is related to the illegal reduction of its shares.

On May 17 this year, Contemporary Science and Technology received a warning letter from Hubei Securities Supervision Bureau. The content shows that the Hubei Securities Regulatory Bureau has decided to take administrative supervision measures to issue warning letters to contemporary science and technology, and record the above violations in the integrity file.

There are two facts about the violation of modern science and technology.

First, contemporary science and technology, as a shareholder holding more than 5% of Renfu Pharmaceutical's shares, fails to fulfill its reporting and announcement obligations in accordance with the regulations when the proportion of the holders' shares is reduced by more than 5%.

For example, during the period from March 29, 2022 to November 29, 2023, Renfu Pharmaceutical shares held by contemporary technology sold a total of about 98.3589 million shares through various ways due to enforcement, compulsory liquidation, judicial auctions and other reasons, accounting for about 6.01% of the total share capital of Renfu Pharmaceutical.

Second, contemporary science and technology through centralized bidding to implement the reduction, did not disclose the reduction plan 15 trading days before the reduction. For example, Contemporary Technology disclosed plans to reduce its holdings on May 19 last year, but began to reduce its holdings four days later.

On May 23, 2024, the Shanghai Stock Exchange issued a regulatory warning to contemporary technology, pointing out that the controlling shareholders implemented the reduction through centralized bidding and did not disclose the reduction plan 15 trading days before the reduction, in violation of the relevant regulations.

On January 31 this year, the Shanghai Stock Exchange gave a regulatory warning to the controlling shareholder, Contemporary Technology, pointing out that the shares held by the controlling shareholder, Contemporary Technology, had been judicially auctioned, and the cumulative changes in its shares had changed by more than 5%. However, it failed to notify the company in time and fulfilled its obligation to disclose changes in rights and interests, thus harming investors' right to know.

Looking ahead, contemporary technology was also named by regulators in 2023.

On February 1 last year, the Shanghai Stock Exchange took disciplinary action against Renfu Pharmaceutical, contemporary technology, the controlling shareholder, Eluming, and the relevant responsible persons, and publicly determined that Eluming was not suitable to serve as the director of a listed company for three years.

It has been found out that the above subjects have a number of violations, details are: non-operating funds occupied by controlling shareholders and their related parties, large illegal reduction of shares by controlling shareholders, failure to comply with board review procedures and information disclosure obligations in major transactions, and inaccurate disclosure of financial data in periodic reports.

Half a year later (August 7, 2023), the actual controller of Renfu Pharmaceutical, Ai Luming, was filed by the CSRC on suspicion of illegal information disclosure.

Default on debt, freezing of shares

An eventful time for the controlling shareholder

According to the official website of contemporary science and technology, the company has laid out medicine, consumption, culture and other fields. Highlight moment, the scale of contemporary science and technology assets exceeds 100 billion. In recent years, contemporary science and technology is in trouble, and enterprise inspection shows that it has been labeled with eye-catching words such as "bond default".

According to media reports, in April 2022, when the contemporary technology debt crisis broke out, the company's (Golden Kirin analyst) bonds defaulted substantially, and since then a number of bonds and wealth management products have been "thunderstorm" one after another.

After that, contemporary technology and its listed companies have begun to take the initiative to divest assets and "slim down". In recent years, Renfu Pharmaceutical has sold assets many times.

In 2022, Renfu Pharmaceutical sold shares in Hande Renfu, Tianfeng Securities, Centennial Kangxin, Hangzhou Foster and other assets, as well as the overseas gender health business of Love Forth Group, with an investment return of about 3.9 billion yuan and an investment income of about 800 million yuan. That year, Renfu Pharmaceutical's asset-liability ratio fell to 50.19%.

In 2023, Renfu Pharmaceutical sold 66% equity in Yichang Maternal and Children's Hospital Management Co., Ltd., 2.5247% equity in Huatai Insurance Group Co., Ltd., as well as industrial investment funds to withdraw from investment projects. basically completed the sale of medical services assets and greatly reduced the total amount of financial assets. Last year, Renfu Pharmaceutical's asset-liability ratio fell to 44.49%.

According to Renfu Pharmaceutical, in the past year, there have been a total of 155 lawsuits and arbitrations involving debt issues involving contemporary technology, with a total amount of about 33.051 billion yuan.

We are also concerned that the stake in Renfu Pharmaceutical held by contemporary technology has been restricted. According to the announcement, as of May 8, 2024, about 386 million shares held by Contemporary Technology have been judicially marked and frozen on the waiting list, accounting for 100% of the total company shares and 23.69% of the company's total share capital.

Renfu Pharmaceutical suggests that if the subsequent disposal of the corresponding shares in contemporary technology is involved, it may lead to changes in the company's ownership structure.

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