Yangpu Medical is a leading enterprise in the domestic vacuum blood collection system industry, and Deng Guanhua is one of the founders of Yangpu Medical.
After being detained for a month, the fate of 58 year old Deng Guanhua turned around.
On the evening of May 12th, Yangpu Medical (300030. SZ) announced that it received a notice from Deng Guanhua’s family on May 11th, stating that it had received a “Notice of Release of Detention” issued by the Guangdong Provincial Supervision Commission, which had lifted the detention measures against Deng Guanhua. The production and operation management of the company is normal, and Deng Guanhua has been able to fulfill his duties as the legal representative, chairman, and general manager of the company. Jiang Guangcheng, the director and deputy general manager of the company, will no longer perform related duties on his behalf.
On the evening of April 7th this year, Yangpu Medical disclosed a notice on the detention measures taken against the Chairman and General Manager of the company. Deng Guanhua was investigated and detained for suspected violations of discipline and law. After the opening on April 8th, the company’s stock price plummeted by 13.09% and closed at 4.78 yuan per share.
Yangpu Medical is a leading enterprise in the domestic vacuum blood collection system industry, providing professional solutions based technology, products, and services for clinical laboratory testing and clinical nursing. Deng Guanhua, born in 1966, graduated from Wuhan University and served as the director of the Institute of Chemical Chemistry at Wuhan University. In 1996, Deng Guanhua participated in the establishment of Yangpu Medical Products (predecessor of Yangpu Medical) and served as the Executive Chairman, General Manager, and Chairman of Yangpu Medical Products. He currently serves as the Chairman and General Manager of Yangpu Medical.
In 2021, Yangpu Medical’s actual control rights changed ownership. On June 23 of that year, Zhuhai Gree Financial Investment Management Co., Ltd. (hereinafter referred to as “Gree Financial Investment”) and its controlling shareholder and actual controller Deng Guanhua signed the “Share Transfer Agreement” and “Irrevocable Voting Rights Waiver Agreement”. After the completion of the transaction, Gree Financial Investment’s voting rights in the company’s shares accounted for 14.29% of the total effective voting rights of the company, becoming the shareholder with the highest proportion of controlling voting rights in Yangpu Medical shares, and the Zhuhai State owned Assets Supervision and Administration Commission became the actual controller of the company.
According to the agreement at the time, within 36 months from the completion of the transaction delivery, Deng Guanhua and his concerted action person Zhao Jiqing irrevocably waived their voting rights to all remaining shares of Yangpu Medical. In June 2023, Deng Guanhua and Zhao Jiqing respectively signed supplementary agreements with Gree Financial Investment, agreeing to extend the voting rights waiver period corresponding to their shares by 24 months on the basis of the original agreement.
After the acquisition of state-owned assets in Zhuhai, Deng Guanhua still held the position of Chairman of Yangpu Medical, but the company’s operation was difficult to be optimistic. The total revenue of the company has declined from 800 million yuan in 2021 to 645 million yuan in 2023, and began to incur losses in 2022. In 2023, the company suffered losses but still had a negative net profit.
The 2023 financial report shows that the company’s net profit before and after deducting non recurring gains and losses for the past three accounting years, whichever is lower, has been negative, and the audit report for the past year shows that there is uncertainty in the company’s ability to continue as a going concern. In the first quarter of this year, Yangpu Medical’s revenue was 141 million yuan, -10.98%, with a net profit attributable to the parent company of -31.91 million yuan, -12.340%; Deducting non net profit of -3798000 yuan, -130.24%.
According to Wind data, Deng Guanhua’s shares are almost in a “clearance style pledge” state. As of the first quarter of 2024, Deng Guanhua held 49.1966 million shares of the company, accounting for 15.91% of the total shares, and remains the largest shareholder of the company. However, 48.0848 million shares were pledged, accounting for 97.74% of his holdings.