博雅生物易主四年业绩止步不前 4.87亿增资子公司仅8月拟2.13亿出售

Core Business Focus - Boya Biological (300294.SZ) plans to sell 80% of its subsidiary Jiangxi Boya Xinhao Pharmaceutical Co., Ltd. for approximately 213 million yuan to concentrate on its core blood products business and optimize resource allocation [1][3][5] Financial Performance - In 2024, Boya Biological reported a revenue of 1.735 billion yuan, a decline of over 34% year-on-year, while the net profit attributable to shareholders increased by nearly 70% to 397 million yuan, although it did not reach the levels of 2022 [2][10] - Boya Xinhao has been operating at a loss, with a reported loss of 34.62 million yuan in 2024 [2][5] Subsidiary Sale Details - The sale of Boya Xinhao, which has a registered capital of approximately 537 million yuan, is expected to result in a loss of about 220 million yuan for Boya Biological, given the recent capital injection of 487 million yuan into the subsidiary [1][8] - The initial valuation for the 80% stake is based on an assessment that values Boya Xinhao at approximately 266 million yuan, indicating a 24.33% increase in value [6] Historical Context - Boya Biological's revenue and net profit have stagnated since its change of ownership in 2021, with significant fluctuations in financial performance observed from 2019 to 2024 [9][10] - The company has reduced its R&D investment from 126 million yuan in 2020 to approximately 97 million yuan in 2024, indicating a potential shift in strategic focus [10] Strategic Moves - In addition to the sale of Boya Xinhao, Boya Biological announced plans to acquire 100% of Green Cross (Hong Kong) Holdings Limited for 1.82 billion yuan to enhance its blood product capabilities [10]