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on the morning of september 2, *st dayao (603963.sh) fell by more than 3% at its opening.

the night before last, *st dayao issued an announcement stating that the company and the family of yang junxiang, the company's actual controller, chairman and general manager, received a notice issued by the zhenkang county supervisory committee on august 31, 2024, stating that yang junxiang was detained and under investigation.

*st dayao did not make any specific announcement regarding the reason for the detention, but only stated that "the matters involved have nothing to do with the company, and as of the date of disclosure of this announcement, the company has not been asked by relevant authorities to assist in the investigation."

the retention of the chairman at this time has brought certain uncertainties to the future development of *st dayao.

in august this year, yang junxiang once planned to sell the controlling stake of *st dayao, but ultimately failed.

*st dayao is a pharmaceutical company that mainly produces chinese medicine injections. on september 22, 2017, the company was officially listed on the a-share market. from 2021 to 2023, the company has suffered losses in annual performance for three consecutive years.

in the first half of this year, *st dayao achieved operating income of 27.41 million yuan, a year-on-year decrease of 53.99%; the net profit attributable to the listed company was a loss of 12.1544 million yuan.

*st dayao's main products are xingnaojing injection and shenmai injection. due to the influence of factors such as centralized procurement of chinese patent medicines and restrictions on medical insurance payments, the sales price and sales volume of the company's main products have shown a downward trend, which has also caused the company to suffer losses in recent years. for example, the company's shenmai injection was not selected for the procurement of chinese patent medicines in the inter-provincial alliance of 19 provinces in hubei, and the sales volume of shenmai injection in the original grade hospital market was basically lost. although the company's xingnaojing injection won the bid for the centralized procurement of chinese patent medicines in the alliance of 6 provinces in guangdong, the sales volume of xingnaojing injection in the 6 provinces of the alliance has declined by a large proportion. in addition, the company's xingnaojing injection was also selected for centralized volume procurement by the national chinese patent medicine procurement alliance. due to the sharp drop in sales prices, gross profit decreased.

currently, *st dayao is facing the risk of delisting. the company has been issued a delisting risk warning because its audited net profit before and after deducting non-recurring gains and losses in 2023 is negative, and its operating income after deducting business income unrelated to the main business and income without commercial substance is less than 100 million yuan. if the company encounters any of the circumstances specified in article 9.3.12 of the "shanghai stock exchange stock listing rules" (revised in april 2024) in 2024, the company's shares will be delisted by the shanghai stock exchange.