Original title: Don’t talk about “wu ethics” asset sales? Tucao organizations, retail investors annoy Watson Bio or investors “vote with their feet”
Summary[Peidiwch â siarad am “wu ethic” yn gwerthu asedau yn rhad? Cwynodd sefydliadau, fe wnaeth buddsoddwyr manwerthu ddigio Watson Bio neu “bleidleisio â’u traed” gan fuddsoddwyr]The Watson Bio event became a hot topic in the investment cycle at the weekend. “Watson Biological has done too much this time. It’s insulting to sell an asset so well at this price. Investors won’t let this issue be so easy.” December 6, A private equity individual vomited to reporters. (21st Century Business Herald)
Watson BioEvent becomes weekendinvestmentHot topics in the ring.
“Watson BioThis time it’s too much. Equip an assetpriceHe was sold out, guilty of public outrage. Investors will not let this issue go so easily. “On December 6, a private equity source spooked reporters.
On the night of December 4,Watson BioannouncementWeighingthe companyIt plans to transfer 32.60% of the shares of Shanghai Zerun, a subsidiary held by Zibo Yunze and Yongxiu Guanyou, at a transfer price of 1.141 billion yuan. Once the transaction is completed, Shanghai Zerun will no longer be Watson BioHolding subsidiary。
This publication is in Watson BioshareholderChina dropped a depth bomb.
“Watson Biotech all knows that Shanghai Zerun is an important asset to the company.Wantai BioCompared to WantaiMarket valueThere are more than 78 billion, you sell such a good asset for 3 billion? Is there something wrong? “Some investors in the investment group talked, and got the approval of many investors.
And investors caught on SaturdaymeetingIn the above, many investors were emotional and issued similar questions.
“This issue is not over yet. As far as I know, the company will still maintain communication with investors, but this planShareholders’ general meetingYes, it is estimated that under the current situation, the chances of passing it are unlikely. Institutional investors and retail investors are dissatisfied. It is expected that the supervisory authorities will pay attention to this phenomenon. Some investors have expressed their wish to report the situation to the supervisory authorities. “The private equity sources said above.
This debate focused on Shanghai Zerun’s “cheap sales”.
Public information shows that Shanghai Zerun is mostly about newReorganizationDevelopment of vaccines, including HPV equivalents and 9-talent vaccines, enterovirus virus 71 (EV71) particulate vaccines etc. It is worth noting that according to Watson Biotech’s previous publication, Shanghai Zerun’s equivalent HPV vaccine completed its Phase III clinical study in April, and the application to register drugs for new drug production was accepted in June. In addition, Shanghai Zerun 9-talent HPV vaccine has also begun clinical trials.
“Seeing that the chicken is about to lay eggs, but now that it’s about to sell the chicken that will lay golden eggs, aren’t you angry?” Says investor.
So, since Shanghai Zerun HPV 2 and 9 prices have good future prospects, why does Watson Biological want to “sell” it at this time?
In this regard, Watson Bio believes that the first transaction is conducive to Shanghai Zerun’s independent development, opening up its development space and creating more value. Nine Price’s competitive landscape now seems more tragic, and the time to market for the second price is also slower than Wantai. In the future, investment in funds, technology, management and other aspects needs strengthening. Therefore, I hope that by such a move, Zerun will open up space for independent development. As an independent shareholder, Watson will continue to play a larger role on the sales side. Recently, Watson’s main energy has been focused on research and development of the new crown vaccine, and Tsinghua University is also cooperating with adenovascular vectors, with limited resources and unable to consider Zerun’s development.
However, in response to this, investors did not buy it, believing that the company avoided the solution to the problem and relinquished the benefits.
“The shareholders meeting will be held at a later date, and the company is expected to encounter considerable opposition. “A participating investor said.
According to Watson Biotech’s third quarterly report, the top ten shareholders have relatively dispersed shares, and the largest shareholder includes Yunnan ProvinceindustryInvestment Holding Group Co., Ltd. holds only 4.97%, while chairman Li Yunchun holds 3.13% .In addition, Hong Kong Securities Clearing Company holds 4.66% shares; Xinyu Fanglue Zhirun Investment Management Center owns 2.95% of the shares, and Zhongtai Xingyun 2a joint ventureThe production management plan share ratio is 1.76%;TradersNational Securities Biomedical IndexGraduation FundThe share ratio is 1.58%; Yuxi High-tech Groupreal estateThe Development Co., Ltd.’s shareholding ratio is 1.56%.
Eastern wealthAccording to Internet data, Watson Biotech has 110 holding organizations with a shareholding of 353 million and a share ratio of 22.86%.
“SecondarymarketInvestors do not approve of company practices. We have also communicated with some organizations. To be honest, Shanghai Zerun was a very important part of the previous pricing system, and is now equal to the face of management. “The private equity sources said above.
As the subject of much attention in the pharmaceutical sector, Watson Bio has always been the focus of the retailer’s attention. Since August, there have been more than 20BrokeragePublished to himResearch report。
Many of the research reports mentioned the research prospects of HPV vaccines and its use as one of the reasons for graduation.
EgBank of China SecuritiesIn the research report released on November 30, the company was given an “overweight” rating. The key points of the rating support mentioned that “the R&D pipeline is fully developed. The company’s R&D expenses for Q1-Q3 are 154 million yuan.YoYIncreased 262%, the company is currently making every effort to promote the production and listing of the HPV equivalent vaccinejobs, And at the same time accelerate the research and development progress of nine-talent HPV vaccines and recombinant EV17 vaccines. “
And earlierSouthwest SecuritiesThe research report also mentioned that the current penetration rate of the HPV equivalent vaccine in China is low, at only 0.26%, and that the market development space is relatively large. Watson Bivalent HPV vaccine was used for production in June 2020 and is expected to launch in 2021.The current domestic equivalent HPV vaccine market isWantai BioAnd GSK occupies, whereWantai BioThe HPV equivalent vaccine adopts a two-shot vaccination method. Watson Biotech has also completed a two-shot method clinical trial, and the two-shot method will be approved in the future. The GSK company is still using a three-shot vaccination method, considering GSK’s two-shot approach. The price of HPV vaccine is relatively high and the vaccination procedure is relatively complex. It is expected that the company’s HPV vaccine will have an improved competitive advantage.
However, if Watson Biotech sells Shanghai Zerun this time, one of the supporting points of the score above will also disappear.
However, a few investors expressed different views on the plan.
A PE person said, “Many stockholders compare the market value of Shanghai Zerun and Wantai, which is really too rough. The rise of the two hpv’s is different. In fact, compared to other competitors, Shanghai Zerun is The event may be the difference between the primary market and the secondary market. Management said it wanted to focus more on using mNRA and adenovirus vector platforms. Not unreasonable. there is improper manipulation, like equity manipulation. Given investors’ interests in the secondary market, the plan can actually be made better. “
However, the PE person also said dissatisfied that when the investor crowd is passionate, it is estimated that many people will vote with their feet, and the company’s stock price will fluctuate to a degree.
according toCompany Announcement, The proposal still needs a sixth time in 2020An extraordinary general meetingIntended and approved, the shareholders’ general meeting will be held on 21 December. The reporter found at the forum where investors gathered that many investors had expressed their intention to vote against it.
Many investors are not optimistic about Watson Bio’s stock price trend. Investors have expressed that they should place and stop pre-orders and wait for the line to “cut meat.”
(Source: 21st Century Business Herald)
(Editor in charge: DF075)
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