The Zhitong Finance App learned that Shengnuo Pharmaceutical-B (02257) rose sharply by more than 30%. As of press time, it had risen 31.31% to HK$10.4, with a turnover of HK$61.7 million.
According to the news, the company previously announced on March 18 that approximately 99,500 company shares beneficially owned by executive director Dai Xiaochang, accounting for 0.11% of the total number of shares issued on the announcement date (held in securities accounts with secured financing in financial institutions) were forcibly sold on March 15 because the security deposit requirement was not satisfied after issuing the security deposit. According to reports, after the forced sale of shares this time, Dai Xiaochang still held 7.8284 million shares of Shengnuo Pharmaceuticals, but 6.6405 million shares are currently held as collateral for personal financing in securities accounts of financial institutions, accounting for about 7.58% of the company's total issued shares. If Dai Xiaochang fails to provide a satisfactory repayment plan, then the 6.640,500 shares mentioned above will also be forcibly sold.
Earlier, on March 7, Shengnuo Pharmaceutical announced that the 1.56 million shares held by Lu Yang were forcibly sold, equivalent to 1.78% of the total number of shares issued. The reason was also that the security deposit requirement was not satisfied after issuing a supplementary deposit. According to Wind data, the average price of the shares that were passively reduced this time was about HK$11.5356 per share, and the total value of the reduced holdings was about HK$18 million.
According to reports, Shengnuo Pharmaceutical has no commercialized products yet. According to financial data, in 2021-2022 and the first half of 2023, Shengnuo Pharmaceutical's sales revenue was zero, and net losses reached US$213 million, US$88.299 million, and US$379.59 million respectively. As of June 30, 2023, Shengnuo Pharmaceuticals's current assets were US$74.2 million, including US$57.3 million in cash and cash equivalents, while at the end of 2022, Shengnuo Pharmaceuticals's cash and equivalent figures were US$105 million.