Blue Whale Finance Tu Jun
By the close of trading on April 8, Yangpu Healthcare (300030.SZ) fell 13.09% to 4.78 yuan.
According to the news, Deng Guanhua, chairman and general manager of Yangpu Medical, was investigated for suspected disciplinary offenses. On the evening of April 7, Yang Pu Medical announced that it recently received the “Notice of Case Filing” and “Notice of Detention” issued by the Guangdong Provincial Supervisory Commission. Deng Guanhua, chairman and general manager of the company, was investigated and placed in detention due to suspected disciplinary offenses.
Yangpu Medical said in an announcement that the company is unaware of the progress and conclusion of the investigation. The company's other directors, senior management personnel and supervisors all perform their duties normally, and the board of directors performs relevant duties in accordance with law. The company will continue to monitor the follow-up progress of the above matters, make proper arrangements for related work, and promptly fulfill its obligation to disclose information in accordance with the provisions and requirements of relevant laws and regulations.
Yangpu Medical was founded in 1996 and listed on the Shenzhen Stock Exchange GEM in 2009. It is a leader in the field of venous specimen collection in China. However, after listing on the GEM in 2009, the company's performance was mediocre and there was little increase in market value.
In terms of performance, in the five years from 2015 to 2019, Yangpu Healthcare's revenue remained at around 500 million yuan. In 2020, due to the COVID-19 pandemic, the company reached its peak of performance in recent years, but continued to decline in the following years. From 2020 to 2022, the company's revenue was 919 million yuan, 800 million yuan and 711 million yuan respectively, and net profit to mother was 163 million yuan, 18.57 million yuan, and -193 million yuan, respectively.
During the epidemic, as a manufacturer of upstream excipients, Yangpu Medical itself did not produce COVID-19 antigen kits and COVID-19 nucleic acid test kits, but instead provided products such as masks, virus sampling tubes (sample storage solution), vacuum blood collection capping machines, and vacuum blood collection cappers.
Regarding the sharp increase in performance in 2020, Yangpu Medical mentioned that in the face of the severe situation of the epidemic, the company automated the production of specimen processing products by developing new suppliers and opening its own models to solve problems such as insufficient supply of materials, and greatly increased production capacity. Sales revenue for microbial transport systems, masks and other related products increased by 309 million yuan and 118 million yuan, respectively. However, after that, with changes in the national epidemic prevention and control policy, the market demand for the company's microbial transfer system was drastically reduced, and the company's performance also changed from profit to loss starting in 2022.
In 2021, the company's mask revenue was about 7.07 million yuan, down more than 90% from the previous year.
According to the 2023 annual results forecast previously released by Yangpu Medical, net profit due to mother is expected to be a loss of 45 million yuan to 65 million yuan in 2023, which is a decrease in losses over the previous year. The company said that in 2023, the market demand for microbial transfer systems was drastically reduced, and the estimated revenue was about 3.7273 million yuan, a year-on-year decrease of 92.40%; instruments and equipment are expected to achieve revenue of 248.469 million yuan, a decrease of 53.10% over the previous year. In addition, the company expects to accrue various asset impairment preparations and credit impairment losses totaling about 20 million yuan in 2023.
Notably, on July 8, 2019, the Administrative Penalty Decision ([2019] No. 66) issued by the Securities Regulatory Commission showed that Zhang Hong, the wife of Yang Pu Medical Chairman Deng Guanhua, had illegal facts of forming and disclosing insider information and using the “Zhang Mouxiang” account to insider trade “Yangpu Healthcare”, decided to confiscate Zhang Hong's illegal proceeds of 9.4463 million yuan and imposed a fine of 283.39 million yuan.
Previously, Deng Guanhua was also suspected of participating in the above insider trading, and the Securities Regulatory Commission plans to punish him administratively. However, according to the announcement issued by Yangpu Medical on July 5, 2019, the Securities Regulatory Commission believes that the evidence is insufficient and does not determine the facts of Deng Guanhua's violation of the law.
Between December 2014 and May 2015, Deng Guanhua's wife Zhang Hong was suspected of using someone else's account to trade “Yangpu Healthcare” stocks during a sensitive period. According to reports, on April 10, 2015, Yangpu Medical announced that it plans to acquire 100% of Guangzhou Huiqiao's shares for 190 million yuan. Taking advantage of this favorable news, Yangpu Healthcare's stock price went up all the way up at the time. Deng Guanhua's wife Zhang Hong made an illegal profit of 9.2171,000 yuan by using other people's accounts to carry out insider trading during this sensitive period.