关联方两度“变身” 拿下康缘药业子公司2.58亿大单

Core Viewpoint - Kangyuan Pharmaceutical has signed two contracts totaling 258 million yuan with the same related party within a year, leading to the major shareholder, Jiangsu Kangyuan Group, choosing to exit the related party, Jiangsu Kunyue Construction Engineering Co., Ltd. [1] Group 1: Related Party Transactions - Jiangsu Kunyue was established in January 2023 and initially named Nantong Mingyuan Construction Engineering Co., Ltd. Kangyuan Group invested in it in September 2023 but exited two months later, transferring ownership to its wholly-owned subsidiary, Jiangsu Yuansen Real Estate Co., Ltd. [1] - In December 2023, Kangyuan Pharmaceutical announced a related transaction where its subsidiary, Jiangsu Kangyuan Pharmaceutical Technology Development Co., Ltd., signed a construction contract with Nantong Mingyuan for 94.4472 million yuan. [2] - Five months after the first transaction, Nantong Mingyuan was renamed Jiangsu Xinjiyu Construction Engineering Co., Ltd. and relocated to Jiangsu Province. [3] Group 2: Financial Impact and Regulatory Attention - In July 2024, Kangyuan Pharmaceutical announced another related transaction with Jiangsu Xinjiyu, with a total estimated contract value of 163 million yuan, bringing the total related transactions to 258 million yuan, which accounts for 4.96% of Kangyuan Pharmaceutical's audited net assets for 2023. [4] - The Shanghai Stock Exchange sent a regulatory letter to Kangyuan Pharmaceutical regarding these transactions, prompting the company to clarify its bidding process and confirm Jiangsu Xinjiyu as the winning bidder. [5] Group 3: Corporate Structure and Governance - After securing a new contract worth 163 million yuan, Jiangsu Xinjiyu was renamed Jiangsu Kunyue again in December 2024, with a new investor, Nanjing Yichen Investment Co., Ltd., acquiring a 67% stake. [6] - Kangyuan Pharmaceutical stated that Jiangsu Kunyue is no longer a related party as of December 12, 2024, following the transfer of shares. [6] - The company emphasized that it has adhered to legal and regulatory requirements regarding related transactions and will reassess Jiangsu Kunyue's status after the 12-month period. [6][9]