Post-90s A-share Exec Detained.
A senior executive of a listed company has been criminally detained on suspicion of embezzlement.
On the evening of September 6, Chutian Technology (300358) issued an announcement stating that it had recently received a "Notice to Obtain Evidence" from the public security authorities. The company's senior executive, Lei Yu, has been criminally detained by the public security authorities on suspicion of embezzlement. Currently, the public security authorities are still conducting further investigations into the incident.
Chutian Technology emphasized that the company has a comprehensive organizational structure and a standardized governance system. Other directors and supervisors are performing their duties normally, and the company's operations are normal. This incident will not affect the company's normal business activities. At the same time, the company will also maintain close communication with the public security authorities, continue to pay attention to subsequent developments, and fulfill its obligation to disclose information in a timely manner.
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The reporter noted that on June 25th of this year, Lei Yu was appointed as a senior executive of Chutian Technology, in charge of domestic sales, with the term of office ending on the expiration date of the fifth board of directors. The announcement released at that time showed that Lei Yu had been working at Chutian Technology for 12 years. Born in January 1991, Lei Yu holds a bachelor's degree and joined Chutian Technology in February 2012, responsible for domestic sales, and is currently the company's Senior Vice President.
The official WeChat public account of Chutian Technology, "Chutian People," last mentioned Lei Yu in an article published on September 6. The article stated that on August 30th, the 2024 Advanced Biomedical Technology Seminar co-hosted by Chutian Technology and Suzhou Biopharmaceutical Industry Alliance was held in Suzhou. Chutian Technology's Domestic Sales President Lei Yu delivered a speech on behalf of Chutian Technology at the event.
Lei Yu stated that the current Chinese biopharmaceutical industry is facing both challenges and opportunities. In July of this year, the State Council reviewed and passed the "Full Chain Support Plan for the Development of Innovative Drugs," which means that from review and approval, access, use, to capital support, especially the full chain support for innovative drugs such as international pricing and out-of-pocket expenses beyond basic medical insurance, is about to become a reality. The Chinese biopharmaceutical industry will embark on a new path of innovation.
Chutian Technology is a domestic pharmaceutical equipment provider and one of the top 100 pharmaceutical industries in China. Its main products span the entire field of biopharmaceuticals, APIs, traditional Chinese medicine, and chemical drugs, with main business covering pharmaceutical water, bioengineering, sterile preparation, solid preparation, and post-detection packaging. In the first half of this year, the company achieved a revenue of approximately 2.829 billion yuan, a decrease of 15.71% year-on-year; the net profit attributable to the parent company was a loss of about 82.64 million yuan, a decrease of 130.94% year-on-year.
In the semi-annual report, Chutian Technology stated that the company faces the risk of not meeting the expected performance in 2024, and the goals set at the beginning of the year may not be achieved. Due to intense industry competition, the company's gross margin has continued to decline, and both operating income and net profit attributable to the parent company have declined year-on-year. If the company cannot turn around in the second half of this year, it may lead to a year-on-year decline in both operating income and net profit, and the goals set at the beginning of the year will not be achieved. In addition, Chutian Technology also faces the risk of impairment of goodwill.
However, the semi-annual report of Chutian Technology also reveals positive signals. The company has increased R&D investment and intensified the introduction of high-end technical talents. In the first half of this year, R&D expenditure was 322 million yuan, an increase of 18.77% compared to the same period last year. At the same time, the company is continuously accelerating the process of globalization. In the first half of this year, overseas income contributed by the Asian region exceeded 334 million yuan, a year-on-year increase of 65.68%.
For the development in the second half of the year, Chutian Technology stated that it will strengthen the development of the international market while also strengthening the maintenance of the domestic market's basic position. On the basis of ensuring the quantity and gross margin of orders, the company will maintain its important position in the domestic market and improve the industry concentration in the domestic market. At the same time, it will strengthen the sales of accessories and services, achieve product differentiation competition, and improve the overall gross margin in the domestic market.
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