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China Fund News reporter heard

On the evening of August 5, *ST Dayao announced that the company's controlling shareholder and actual controller Yang Junxiang is planning to transfer the company's shares by agreement, which may lead to a change in the company's control.

The company's official website shows that *ST Dayao was listed on the main board of the Shanghai Stock Exchange on September 22, 2017. It is one of the few listed pharmaceutical companies in Yunnan Province and the first A-share main board listed company in Dali Bai Autonomous Prefecture, Yunnan Province.

In response, *ST Dayao has been suspended since the opening of the market on August 5, and will continue to be suspended from the opening of the market on August 6. Before the suspension, *ST Dayao's stock price fluctuated abnormally, and its total market value was 721 million yuan as of the closing on August 2.

As of July 10, the total number of shareholders of *ST Dayao was 16,800.

The actual controller plans to transfer shares through agreement

*ST Dayao announced that the company received a notice from Yang Junxiang on August 4 that he was planning matters related to the agreement transfer of the company's shares, which may lead to a change in the company's control.

Public information shows that Yang Junxiang’s main occupations and positions at *ST Dayao include chairman of the board, general manager, controlling shareholder, and actual controller.

As of the end of the first quarter of 2024, Yang Junxiang directly held 23.31% of *ST Dayao’s shares.

*ST Dayao announced that in order to ensure fair information disclosure, safeguard the interests of investors and avoid abnormal fluctuations in the company's stock price, in accordance with the "Shanghai Stock Exchange Listing Rules" and "Shanghai Stock Exchange Listed Company Self-Discipline Regulatory Guidelines No. 4 - Suspension and Resumption of Trading" and other relevant regulations, the company's stock has been suspended since the opening of the market on August 5.

At the same time, *ST Dayao applied to the Shanghai Stock Exchange and will continue to suspend trading from the opening of the market on August 6. The total suspension is expected to last no more than two trading days (including one trading day suspension on August 5).

*ST Dayao announced that the above matters are under negotiation, and the parties to the transaction have not yet signed an agreement, and there are still major uncertainties. Once the above matters are determined, the company will promptly issue relevant announcements and apply for the resumption of stock trading.

Previously, many risks were pointed out

The company's official website shows that *ST Dayao is a key production enterprise and industrialization base for traditional Chinese medicine and natural medicine in Yunnan Province. Its leading products include Xingnaojing Injection, Shenmai Injection, Astragalus Injection, etc.

*ST Dayao's stock price fluctuated several times before the announcement. The company's stock price rose by the daily limit for four consecutive trading days from July 16 to 19, and its short-term increase was higher than that of the same industry and the Shanghai Composite Index.

In this regard, *ST Dayao previously warned that it faced a number of risks, including operating performance risks, centralized bulk drug procurement risks, and the possible risk of being delisted.

Among them, *ST Dayao was affected by factors such as centralized procurement of traditional Chinese medicines and restrictions on medical insurance payment, resulting in a downward trend in the sales price and sales volume of its main products, causing losses in recent years.

*ST Dayao recently released its performance forecast, stating that the company expects its net profit attributable to shareholders of the parent company in the first half of 2024 to be between -14 million yuan and -11 million yuan, and its net profit after deducting non-recurring items to be between -16 million yuan and -13 million yuan.

At the same time, *ST Dayao has been issued a delisting risk warning because its audited net profit before and after deducting non-operating items in 2023 was negative, and its operating income after deducting business income unrelated to the main business and income that does not have commercial substance was less than 100 million yuan.

*ST Dayao announced that if the company encounters any of the circumstances specified in Article 9.3.12 of the "Shanghai Stock Exchange Listing Rules" (revised in April 2024) in 2024, the company's shares will be delisted by the Shanghai Stock Exchange.

Editor: Joey

Audit: Wooden Fish

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