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after the market closed on september 1, *st dayao (sh603963, share price 3.30 yuan, market value 725 million yuan, hereinafter referred to as dali pharmaceutical) announced thatthe company's actual controller, chairman and general manager yang junxiang was detained and investigatedthe announcement stated that the matter involving yang junxiang had nothing to do with the company, and as of the date of disclosure of this announcement, the company had not been asked by relevant authorities to assist in the investigation.

yang junxiang, 62, founded dali pharmaceutical in his early years. according to the company's 2024 semi-annual report, yang junxiang, yang qinglong, and yin cuixian directly hold 23.31%, 11.94%, and 3.06% of the company's shares respectively. yang qinglong is yang junxiang's son, and yin cuixian is yang junxiang's wife. in addition, yang junxiang's brother yang junwei holds 0.56% of the company's shares.

in early august this year, yang junxiang also sought to transfer the control of the listed company, but the plan was terminated after a few days. as of august 9, dali pharmaceutical had more than 17,000 shareholders.

the actual controller of dali pharmaceutical was detained for investigation

he quit politics at the age of 30 to go into business and was once very successful

the announcement shows that dali pharmaceutical and the family of yang junxiang, the actual controller, chairman and general manager, received a notice of detention and investigation of yang junxiang issued by the zhenkang county supervisory committee on august 31, 2024. the matters involved have nothing to do with the company. as of the date of the announcement, the company has not been asked by relevant authorities to assist in the investigation.

during the detention period, yang junxiang was temporarily unable to perform the duties of the legal representative, chairman and general manager. the company held the ninth meeting of the fifth board of directors and reviewed and approved the "proposal on nominating ms. yin cuixian to act as the legal representative and chairman of the board of directors". all directors unanimously agreed that during the detention period of yang junxiang, yin cuixian, the company's vice chairman, would perform the duties of the company's legal representative and chairman of the board of directors, as well as the duties of the members of the relevant committees of the company's board of directors. in addition, wu peirong, the secretary of the board of directors, would perform the duties of the company's general manager during the detention period.

yang junxiang, 62 years old, is the founder, controlling shareholder and chairman of dali pharmaceutical. public information shows that yang junxiang is a "salesman". from december 1980 to september 1989, yang junxiang worked at the dali prefecture hydrological station; from september 1989 to december 1992, yang junxiang worked in the dali municipal people's government office; from december 1992 to october 1996, yang junxiang founded dali city pharmaceutical co., ltd. and served as manager; from october 1996 to september 2003, yang junxiang founded dali pharmaceutical co., ltd. and served as general manager; from september 2003 to february 2008, yang junxiang served as chairman and general manager of dali pharmaceutical co., ltd. (a sino-foreign joint venture); since march 2008, yang junxiang has served as chairman of dali pharmaceutical.

in 2017, dali pharmaceutical was listed on the a-share main board, making yang junxiang the most famous person in the world. its star product, xingnaojing injection, is known as one of the "national miracle drugs" and one of the "three treasures of traditional chinese medicine for coma recovery."

at the same time, dali pharmaceutical is also a typical family business. according to the company's 2024 semi-annual report, yang junxiang, yang qinglong, and yin cuixian directly hold 23.31%, 11.94%, and 3.06% of the company's shares respectively. yang qinglong is yang junxiang's son, and yin cuixian is yang junxiang's wife. in addition, yang junxiang's brother yang junwei holds 0.56% of the company's shares.

as of the close of trading on september 2, the company's stock price fell. on the afternoon of september 2, the reporter called the company's public phone number, but was unable to contact the other party as of press time.

in early august, the company sought to transfer control of the company

the company hasafter three consecutive years of losses, the company was issued a delisting risk warning

just in august this year, yang junxiang sought to transfer control of the company.

the company previously announced that it received a notice from the controlling shareholder and actual controller yang junxiang on august 4 that he was planning to transfer the company's shares by agreement, which may lead to a change in the company's control. at the same time, dali pharmaceutical announced a suspension of trading. but on the evening of august 6, the company immediately announced that the transfer of the company's control had failed. the reason for the termination was that yang junxiang informed dali pharmaceutical that he and the counterparty had not reached an agreement on the transaction and decided to terminate the planning of the transfer of the company's shares by agreement.

the transfer of control rights was terminated and the actual controller was detained for investigation. as an enterprise with traditional chinese medicine injection as its main business, dali pharmaceutical is highly dependent on a single product and faces an overall restricted environment for traditional chinese medicine injection.

its leading products, xingnaojing injection and shenmai injection, once accounted for more than 90% of the company's total revenue. however, as traditional chinese medicine injections have sparked discussions on drug safety, and have been restricted to use in secondary and above medical institutions, as well as price cuts in centralized procurement, the traditional chinese medicine injection industry as a whole is facing a reshuffle. at the same time, dali pharmaceutical has not had any new representative products on the market for many years, which has also caused the company's performance to plummet.

from 2021 to 2023, the company's net profit attributable to the parent company continued to lose money. in the first half of this year, the company's net profit attributable to the parent company lost 12.1544 million yuan.

previously, the company's stock had been issued a delisting risk warning because the audited net profit before and after deducting non-recurring gains and losses in 2023 was negative, and the operating income after deducting business income unrelated to the main business and income that did not have commercial substance was less than 100 million yuan.