Interface Journalists | Li Kewen Interface News Editor | Xie Xin
Shenzhen Stock ExchangeOn February 22, the Securities Regulatory Commission reviewed the first public offering of stocks and the application documents for the listing of the GEM in the GEM biology.The Securities Regulatory Commission decided to terminate the registration procedure of Philippine Bio.
Philippine Bio is one of the leading raw materials diagnostic ingredients in the body, and it is also one of the most complete diagnostic reagent raw materials suppliers in the domestic category.Philippine Biological submitted a listing application to the Shenzhen Stock Exchange in December 2020 and was accepted.During the period, after more than a year of inquiry review, the Feipeng Biological IPO meeting in March 2022.In the month, Feipeng Biological submitted an IPO registration application to the CSRC.However, two years have passed so far, and the IPO of Feipeng Biological GEM is eventually folding.
According to the prospectus, from 2020 to 2022, Feipeng Bio achieved revenue of 1.068 billion yuan, 2.332 billion yuan, and 2.702 billion yuan.100 million yuan and 918 million yuan.
New crown testing dividends cannot continue
The main products of Feipeng biological products are antigen, antibody, diagnostic enzymes and other body diagnostic reagent materials, chemical light immune analyzer and other in vitro diagnostic diagnosisInstruments and semi -finished products.
Before the outbreak of the new coronal virus infection, from 2018 to 2019, Feipengs biological income structure is relatively stable, mainly in the sales of in vitro diagnostic reagents, accounting for more than 95%.
According to the prospectus, in 2018 and 2019, the raw materials of the Filipin Biological Diagnostic Reagents contributed 220 million yuan and 283 million yuan, accounting for 99.40%and 97.92%of total revenueEssence
Specifically, sales antibodies and antigens are the main sources of income from Feipeng creatures.According to the prospectus, in 2018 and 2019, Feipeng biological antibodies contributed 100 million yuan and 129 million yuan, accounting for 45.38%and 44.76%of total revenue; antigen contributing revenue of 911.135 million yuan and 113 million yuan, accounting for 41.18 total revenue of 41.188%And 39.17%.Secondly, the revenue of diagnostic enzymes contributed 19.8768 million yuan and 24.7535 million yuan, accounting for 8.98%and 8.56%of total revenue; other contributions of 8.5383 million yuan and 15.668 million yuan, accounting for 3.86%and 5.42%of total revenue.
After the outbreak of the new crown virus infection, the overall business volume of Philippine biological has risen, including the increase in sales of raw materials, the increase in the sales of semi -finished products and the semi -finished product sales of instruments and reagents.Substantial growth.
During this period, the total operating income of Feipeng Bio has increased from 221 million yuan in 2018 to 2.7 billion yuan in 2022, turning 12 times.
Among them, antigen detection raw materials (antibodies), and PCR detection raw materials (diagnostic enzymes) and reagents and reagents have been growing fastest -growing related to acute respiratory tract infection.
According to the prospectus, in 2020, 2021 and 2022, the revenue of Philippine Bio -antibody revenue contributed 391 million yuan, 1.36 billion yuan and 1.818 billion yuan, accounting for 36.68 of total revenue%, 58.34%and 67.28%; diagnostic enzyme revenue contributed 279 million yuan, 255 million yuan, and 310 million yuan, accounting for 26.11%, 10.94%, and 11.47%of the total revenue; reagent semi -finished products and reagent revenue contributed 203 million yuan, 4.09 4.09100 million yuan and 281 million yuan, accounting for 18.99%, 17.54%and 10.42%of the total revenue.
However, with the adjustment of the new coronal virus infection control policy, the Fei Peng creature may be difficult to get the same performance growth.This may also be one of the main concerns for supervision to be delayed.
Philippine Biology also stated in the latest updated prospectus on July 4, 2023 that since 2023, the detection needs of specific acute Significantly reduced the risk of a sharp decline in the companys overall operating performance.Judging from the current situation, it is expected that the operating performance of Feipeng Bio will decline sharply in 2023.
Equity disputes
Just two months after submitting registration, Fei Peng Bio suddenly exposed equity disputes.This may also be a major reason for the ultimate failure of Fei Peng Biological IPO after the meeting.
In May 2022, Zhou Guorong and Huang Yijun infringed on the Futian Court of investment rights with the concerns of their investment rights and his wife and his wife.Peng Bio, Cui Peng, Wen Bo Tianjin, Liu Qiang.
Dingfeng Mingdao Company is the partner of the affairs of the original shareholder of the Philippine Bio.Chen Zhengxu is the legal representative, chairman and general manager of Dingfeng Mingdao Company.Liu Qiang was an old shareholder of Feipeng.Cui Peng is the actual controller of Feipeng.
Previously, in order to better complete the new shareholders shareholding and the old shareholders stock, SequoIn the last round of Huayi Medical, newly added shareholders and Liu Qiang and other old shareholders to negotiate with the premise of not attached the premise of gambling conditions to transfer the shares to Wenbo Tianjin at a price of 2 % off the price of new shareholders, and then Wenbo Tianjin will this will this will this willAll shares are transferred to new shareholders, and Wenbo Tianjin will bet with new shareholders.However, now, the clauses of the Philippine Biological as the parties to the gambling agreement have been valid and irrevocablely lifted. Feipeng Bio has no longer the parties to the gambling agreement.
In 2015, Feipeng Biological has financing needs, and Dingfeng Huijin plans to invest 25 million yuan to invest in the issuer.Zhou Guorong was introduced by his brother -in -law Huang Yijun. After investing in Dingfeng Mingdao Medical Health No. 2 Investment Fund (hereinafter referred to as: Medical No. 2 Fund), Medical No. 2 Fund Investment Dingfeng Huijin, Zhou Guorong and Huang Yijun believed that they were indirectly held Feipeng Biology 2.671 2.671Thousands of shares, holding a shareholding ratio of about 0.053%.
In September 2017, Dingfeng Huijin, Dingfeng Huixin and Liu Qiang signed the "Shares for Transfer Agreement", agreed that Dingfeng Huijin transferred to Liu Qiang at a price of 37.32862 million yuan to Liu Qiang.Philippine Biological 0.5273%of the shares (totaling 266,600 shares). Liu Qiang had paid all equity transfer models in that month. The aforementioned shares completed the transfer and delivery in April 2018.
In October 2017, Dingfeng Huijin first completed the income distribution to the Fund No. 2, and the post -medical care funds were liquidated.Receive the liquidation and allocation model of 3.386665 million yuan.
In September 2020, Liu Qiang transferred his issuers shares to Wenbo Tianjin with a valuation of 16 billion yuan.Give Huayi Medical and Xing Zhige.
Zhou Guorong and Huang Yijun believed that the defendants conspired to infringe their investment rights and interests, so they requested the court to order Cui Peng to pay 190,800 shares of the Philippine Bio.
On August 4, 2022, the Futian Court of Shenzhen issued a first trial judgment to reject all Zhou Guorong and Huang Yijuns request requests.On August 25, 2022, Zhou Guorong and Huang Yijun appealed to the Shenzhen Intermediate Peoples Court.On May 19, 2023, the second trial of the case involved in the case was opened. As of today, the second trial has not yet been closed.
The acquisition of overseas assets is questioned
The acquisition of Feipeng Bios Sequlite Sequlite on overseas high -throughput gene sequencers has also been questioned by the regulatory authorities.
In order to lay out the high -throughput gene sequencing instrument business, Feipeng Biological obtained 5.33 million preferred shares of SEQULITE in 2018 (accounting for 40%of SEQULITE voting rights)Essence
It should be noted that Sequlite has not yet realized commercialization.According to Sequlite financial data, the operating income of 2018 was 0, the net profit was $ 11.729 million, and the total assets at the end of 2018 were only US $ 5.398 million, and the net assets were US $ 5.255 million.This is far lower than $ 10.5 million paid by Philippine Biology.It takes time to test whether the operation of the strategic industry of Feipeng Bio is reasonable.
By 2021, the control of the Philippine Bios control of Sequlite further.On October 18, 2021, Feipeng International, a biological subsidiary of Feipeng, signed the "Shares acquisition Agreement" with Sequlite and its two founding shareholders.Value of $ 75 million.
On October 26, 2021, Sequlite completed the change of shareholders registration certificate, Sequlite became a wholly -owned subsidiary of Feipeng Biological. Since thenItem R & D, production, sales business and its corresponding assets and rights are controlled by the company.
Philippine Biological acquisition of Sequlite this time constitutes a merger of enterprises under the same control. As of the end of 2021, it has formed about 460 million yuan in goodwill.The original value increased to about 508 million yuan.
In addition, Feipeng Biological has the technical dependence on the founder of Sequlite.If the founder of Sequlite has doubts whether the company has continuous research and development capabilities after leaving.In this regard, Feipeng Biological said that both founding shareholders have signed a labor agreement with Sequlite and continued to serve as CEO and chief scientist in Sequlite.Since Feipeng International completed the acquisition of Sequlite controlling stakes, the core technicians of Sequlite have not changed significantly, there is no significant integration or agreement in the fact that there is no significant integration of personnel.
Philippine Bio said that the issuer team is also actively launched the transfer of the core instrument equipment and technology of Sequlite, and will use the issuers research and development advantages and experience to combine Sequlite in genes in genes in genes.The technical accumulation in the sequencing field is completed as soon as possible to master the research and development activities of Sequlite and the control and takeover of various technologies, and enhance the ability to control SEQULITE.
