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guangzhou pharmaceutical group co., ltd. (hereinafter referred to as: guangzhou pharmaceutical group), the largest state-owned pharmaceutical company in south china, has once again experienced personnel shakeups.

after the official announcement that li chuyuan, the former chairman of guangzhou pharmaceutical group, was under investigation, on the evening of september 1, baiyunshan pharmaceutical group's listed company (600332.sh; 00874.hk) once again disclosed an announcement stating that it had received the resignation report from the company's director zhang chunbo. "due to personal reasons," zhang chunbo resigned from the company's director and other positions and would no longer hold any position in the company.

yicai global's reporters confirmed from multiple independent sources that zhang chunbo had also been taken away by relevant departments for investigation. "last thursday, the group's leadership team was in a meeting, and then several staff members came in and took him away on the spot," a core insider of guangzhou pharmaceutical group told yicai global.

at the opening of the morning on september 1, the share price of baiyunshan a shares continued to fall. as of press time, the decline reached 2.74%, and the total market value of a shares reached 45.522 billion yuan.

young executives under investigation

unlike li chuyuan and other senior executives who are approaching the retirement age, zhang chunbo is a young executive among the leadership team of guangzhou pharmaceutical group. most employees regard him as the company's future "rising star".

"47 years old, emba, senior economist (technology-based entrepreneur), pharmacist title, national model worker." this is the beginning introduction of zhang chunbo's resume disclosed in baiyunshan's 2023 annual report.

"he (zhang chunbo) is the youngest deputy general manager of the group (party committee), and he is a graduate of pharmacy. he has rich work experience in sales and business operations. he is indeed the 'rising star' of guangzhou pharmaceutical group." said the above-mentioned person familiar with the matter.

in november 2020, zhang chunbo was awarded the title of "national model worker". according to the press release of guangzhou pharmaceutical group at that time, there were only six "national model workers" in guangzhou pharmaceutical group. zhang chunbo, born in 1976, "grew from a front-line salesperson to the head of the company and became a young management cadre who made outstanding contributions to the revitalization and innovative development of time-honored pharmaceutical brands."

previously, zhang chunbo said in an interview with the media that through his undergraduate studies at china pharmaceutical university and his mba at sun yat-sen university, he acquired a systematic knowledge framework and thinking structure in all aspects of pharmacy, marketing, and management, as well as a rigorous learning attitude. in addition, he also has the habit of keeping learning, such as paying attention to the news, cultivating hobbies and information in certain fields, keeping a high level of attention to industry information, and maintaining curiosity and enthusiasm for experiencing new social hot spots.

according to his public resume, zhang chunbo has served as deputy manager of the second district, assistant to the sales manager, executive deputy manager of the business department, manager of the sales department, and deputy marketing director of guangzhou baiyunshan hutchison whampoa chinese medicine co., ltd. (hereinafter referred to as baiyunshan hutchison), deputy general manager, executive deputy general manager, general manager, and chairman of guangzhou baiyunshan zhongyi pharmaceutical co., ltd. (hereinafter referred to as zhongyi pharmaceutical), and general manager and chairman of guangzhou baiyunshan qixing pharmaceutical co., ltd. (hereinafter referred to as qixing pharmaceutical). zhang chunbo has served as deputy general manager of baiyunshan since january 2015 and as a director of baiyunshan since june 28, 2019.

zhongyi pharmaceutical, which zhang chunbo is in charge of, is also a core enterprise of baiyunshan. according to the official website of zhongyi pharmaceutical, the company is a "chinese time-honored brand" enterprise, owning two well-known chinese trademarks, "baiyunshan" and "zhongyi", and is mainly engaged in the research and development, manufacturing, sales and health services of chinese patent medicines and health products. in 2021, the company's output value exceeded 1.2 billion yuan, and its profits and taxes exceeded 300 million yuan.

zhongyi pharmaceutical has nearly 140 varieties in 6 dosage forms and 21 exclusive varieties. its main product xiaoke pills is the no. 1 brand of oral glucose-lowering chinese patent medicines in the country, zishen yutai pills is the market leader in gynecological chinese patent medicines for prenatal care, and angong niuhuang pills is in the leading position in the national sales volume in the same category market. all three varieties are major chinese medicines with sales exceeding 100 million yuan.

"zhongyi pharmaceutical is the flagship enterprise of guangzhou pharmaceutical group. it is a time-honored brand with a good scale and variety of products, so he is still (very capable), but he did not expect such a thing to happen." the above-mentioned person familiar with the matter said.

"(this incident) has a relatively large impact on the company. now all internal news and information related to zhang chunbo have been removed." said the above-mentioned person familiar with the matter.

a reporter from the first financial daily checked the official websites of zhongyi pharmaceutical and qixing pharmaceutical and searched for "zhang chunbo" and found that there was no relevant content.

intersection with li chuyuan's resume

people who have had contact with zhang chunbo before said that zhang chunbo's career experience started with "running the market" on the front line of marketing, and he has developed to where he is today through continuous training and learning.

baiyunshan announced that zhang chunbo started working in 2000. he started working at guangzhou baiyunshan traditional chinese medicine factory where li chuyuan was the factory director.

according to baiyunshan’s announcement, zhang chunbo once served as a clerk in the marketing department of guangzhou baiyunshan chinese medicine factory, otc manager, and deputy manager of the second district of guangzhou baiyunshan chinese medicine factory. in 2004, baiyunshan a (delisted) invested rmb 100 million in guangzhou baiyunshan chinese medicine factory, a wholly-owned subsidiary of the company, and hong kong-owned hutchison pharmaceuticals invested rmb 100 million, with each party holding 50% of the shares to establish a new joint venture company, baiyunshan hutchison.

according to the announcement of baiyunshan, after the establishment of the new joint venture baiyunshan hehuang, zhang chunbo served as the deputy manager of the second area of ​​baiyunshan hehuang, assistant manager of the sales department, executive deputy manager of the operations department, manager of the sales department, and deputy director of marketing.

from 2011 to 2014, zhang chunbo successively served as deputy general manager, executive deputy general manager, general manager and chairman of zhongyi pharmaceutical. in july 2013, li chuyuan was appointed chairman and party secretary of guangzhou pharmaceutical group.

on january 12, 2015, baiyunshan issued an announcement that zhang chunbo officially assumed his duties as a senior executive of the listed company. on the same day, the then chairman of the company, li chuyuan, presided over a board meeting, which unanimously approved the "proposal on the appointment of senior management personnel of the company", agreeing to appoint zhang chunbo and others as deputy general managers of the company, with the same term of office as the members of the sixth board of directors. zhang chunbo's resume at the time showed that he was 38 years old at the time and had served as chairman and general manager of zhongyi pharmaceutical and chairman and general manager of qixing pharmaceutical.

in august 2021, zhang chunbo resigned from the position of deputy general manager of baiyunshan due to work transfer. after resigning, he continued to retain the position of executive director of the listed company, "receiving remuneration from the company's controlling shareholder from august to december 2021."

baiyunshan’s 2021 annual report shows that zhang chunbo is already a member of the party committee and deputy general manager of guangzhou pharmaceutical group.