3.675 billion yuan in cash is missing!North China Pharmaceutical suffered a major crisis

"The eldest son of the Republic" North China Pharmaceutical suffered a major crisis.

On June 20, a announcement of North China Pharmaceuticals aroused market attention. North China Pharmaceutical received a regulatory letter from the Shanghai Stock Exchange, and a number of financial information of the company was asked.

North China Pharmaceutical was interrupted in Shandong Province because it was included in the national collection of ibuprofen, which was included in Shandong Province. It was included in the list of illegal regulations and became the first domestic pharmaceutical company in China. And this time, the problems encountered by North China Pharmaceuticals were even more exaggerated:

3.675 billion yuan in cash was disappeared on the book.

3.6 billion yuan disappeared, violating the rules many times

On June 20, the Shanghai Stock Exchange mentioned 8 issues in the supervision work letter issued by the North China Pharmaceutical. The core of the core was: a large amount of money from North China Pharmaceuticals in Jizhong Energy Group Financial Co., Ltd. disappeared.

Jizhong Energy is a large state -owned enterprise in Hebei Province. It has seven coal industry related companies and five non -coal sub -companies. It has three listed companies: Jizhong Energy, North China Pharmaceutical and Taurus Chemical, and a financial company. 3.675 billion to fly, which originally existed on the account of Jizhong Energy Finance Company.

On December 31, 2021, the deposit of North China Pharmaceutical in the financial company was 4.42 billion yuan. On January 1, 2022 alone, North China Pharmaceutical took some money from the financial company to repay the principal and interest of Hebei Bank's loan and interest. There were 3.675 billion yuan in the financial company's account.

On April 27 this year, on the day of the 2021 report disclosed by Pharmaceuticals in North China, the company's deposit on the financial company's account became 0.

The Shanghai Stock Exchange requires North China Pharmaceutical to explain the above 3.675 billion yuan, including the current usage of the money and account balance, and whether the company has added deposits to the deposit of financial companies.

Financial companies are financial institutions, which have established and operated to accept the approval and supervision of the China Banking Regulatory Commission. Generally, only large enterprise groups such as Jizhong Energy are eligible to invest in establishing a financial company. In 2012, the financial company of Jizhong Energy signed an agreement with North China Pharmaceutical to provide deposit, settlement and other financial services to North China Pharmaceuticals.

Under the control of the parent company Jizhong Energy Group, the financial needs of North China Pharmaceuticals are basically processed by Jizhong Energy Finance Company. North China Pharmaceutical has made a long -term effective commitment: the company's deposit balance in the financial company is not higher than the loan balance issued by the financial company to the company.

However, in the past two years, North China Pharmaceuticals has violated the previous commitment. In 2021, the "Internal Control Audit Report" issued by its annual auditors directly pointed out that there were major defects in the internal control of non -financial reports in North China Pharmaceuticals.

At the end of 2020, the North China Pharmaceutical Statement showed that its deposit was 4.07 billion yuan in financial companies, while the loan was zero. North China Pharmaceutical seems to be transporting interests to Jizhong Energy Finance Company. This phenomenon has aroused the attention of the Shanghai Stock Exchange and requires the accountability of relevant personnel.

In this regard, the company and the relevant responsible persons have proposed a defense opinion, which is not subjective and intentional for violations, and this violation is affected by objective reasons. But the Shanghai Stock Exchange does not recognize it.

In the end, the incident used Liu Wenfu, the vice chairman of the North China Pharmaceutical, Zhou Xiaobing, then general manager Zhou Xiaobing, then the financial director Wang Lixin, and then the secretary Chang Zhishan. In August 2021, all three except the directors were submitted to resignation.

The alarm clock has sounded, but North China Pharmaceutical has not completely changed.

In addition to the lack of 3.6 billion, North China Pharmaceutical's debt ratio is much higher than its peers. The decline in the sales volume of the main products, the illegal self -examination of the company's executives and illegal investigation have become questioned points of the Shanghai Stock Exchange.

Collecting violations, it is useless to win overseas lawsuits

This is not the first time that North China Pharmaceutical has been questioned.

In August 2021, the North China Pharmaceutical was canceled from August 11th to May 10, 2022 due to the confession of ibuprofen capsules in Shandong. This has a great impact on the North China Pharmaceuticals supported by the performance of the performance.

Regarding the disconnection, North China Pharmaceuticals attributed to the impact of the epidemic, insufficient production capacity, and the slow development of production projects.

But this is difficult to be recognized by the market. In the Shandong region, there were three other companies that were shortlisted in the supply of ibuprofen capsules with North China Pharmaceuticals. Among the four suppliers, the highest unit price of North China Pharmaceuticals is the highest, and the price of a box of 30 capsules is 8.04 yuan.

At the same time, other shortlisted companies can supply normally. Why can't North China Pharmaceuticals not work? At this point, North China Pharmaceutical's own control ability has become the main question of the market.

Established in 1953, North China Pharmaceutical was the eldest son of the Republic of the Republic. It resolved the need for antibiotics in the early years of the founding of the People's Republic of China. It was once "favored" by the country and market.

However, this pharmaceutical company with a history of nearly 70 years has not kept up with the times. When Hengrui Pharmaceutical, which started with generic drugs, began to enter the innovation medicine track, the main revenue of North China Pharmaceuticals still came from its generic drugs, but the profit had begun to decline.

As of the annual report of 2021, North China Pharmaceutical revenue was 10.385 billion yuan, a year -on -year decrease of 9.64%; net profit was 18.7274 million yuan, a year -on -year decrease of 80.76%. This is the third year of the continuous decline in the net profit of North China Pharmaceutical.

The business is not colorful, and the rights defending rights are abnormal. In early 2000, compared with international pharmaceutical companies, due to the abnormal price of VC, many domestic manufacturers who produced VC raw medicines were filed by foreign companies.

The cost of international lawsuits is quite high.In 2012, enterprises such as Shi Medicine and Jiangshan successively "reconciled" with the complaint companies, and only North China Pharmaceuticals were not convinced.In August 2021, North China Pharmaceutical issued an announcement: Win.The litigation journey that started in 2005 has ushered in the results after 16 years.It's just that this one consumed a lot of time, funds, and manpower and material resources. It was slightly funny before the collection and breaking supply.

What does this time -consuming international lawsuit mean for pharmaceutical companies?Presumably the experience of North China Pharmaceuticals will be very profound.

In January 2022, North China Pharmaceutical issued an announcement that his rabies were approved for listing.It is not easy to be listed on the first domestic rabies. This is not easy.

Can the new drug inject vitality into the "old trace" enterprise?Let's look at how North China Pharmaceutical explains the disappearance of 3.675 billion.

Writing ｜ Nicotinamide

Edit ｜ Jiang Yun Jia Ting

Operation | Valley

Picture Source | Visual China

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