Although it has repeatedly stated that it has not signed a covid-19 oral drug cooperation agreement with Pfizer and received four attention letters from Shenzhen Stock Exchange within two months, the share price of Aba Chemicals Corporation(300261) (300261. SZ) still hit a record high.
The main business of Aba Chemicals Corporation(300261) is innovative pesticides and pharmaceutical intermediates. On February 21, Aba Chemicals Corporation(300261) closed at 29.91 yuan / share, setting a new high since its listing.
Recently, Aba Chemicals Corporation(300261) new projects with an annual output of 50 tons of parovid API, 500 tons of carbonic anhydride intermediate and 300 tons of azabicyclohexane have been approved, which has attracted market attention.
According to the patent information disclosed by Pfizer, carbonic anhydride and azabicyclohexane are the front-end intermediates of palovide API, which is the effective component of Pfizer covid-19 oral drug palovide.
Last week, the Shenzhen Stock Exchange issued a letter of concern to Aba Chemicals Corporation(300261) asking the company to explain whether there is a situation of using the above-mentioned project declaration to cater to market hot spots.
On February 17, Aba Chemicals Corporation(300261) said in reply to the letter of concern that the company had not disclosed the application and filing information of the above projects on any media, and there was no situation of using the project application to cater to the hot spots of the market. At the same time, Aba Chemicals Corporation(300261) has not decided whether to put these projects into operation.
Aba Chemicals Corporation(300261) also mentioned that the company did not sign a cooperation agreement with Pfizer, did not supply carlon anhydride products to Pfizer, and Pfizer did not provide Aba Chemicals Corporation(300261) with any quality standards for the procurement of covid-19 oral drug front-end raw materials.
Although Aba Chemicals Corporation(300261) said it had no cooperation agreement with Pfizer, the company’s share price still rose sharply. Two trading days after the release of the above reply, Aba Chemicals Corporation(300261) shares rose 33.44% again.
Since the end of October last year, Aba Chemicals Corporation(300261) share price has risen more than fourfold. In the latest announcement released today, Aba Chemicals Corporation(300261) said that the increase of the company’s share price did not match the current fundamentals.
Aba Chemicals Corporation(300261) was labeled as “covid-19 oral drug concept stock”, which originated from an information disclosed by the company last November. Aba Chemicals Corporation(300261) according to the official document, the commercial mass production of the pharmaceutical intermediate carbonic anhydride developed and produced by the company is smooth, and the monthly production scale has reached 20 tons.
In late December last year, Aba Chemicals Corporation(300261) received the first letter of concern from Shenzhen Stock Exchange. The company replied that it had not established a cooperative relationship with Pfizer. However, after replying to the attention letter, Aba Chemicals Corporation(300261) share price rose by the limit and began the first round of suspension due to abnormal fluctuations in share price.
After the resumption of trading, Aba Chemicals Corporation(300261) immediately received the second letter of concern from Shenzhen Stock Exchange, asking the company to explain the specific relationship between carbonic anhydride and its derivatives and Pfizer covid-19 oral drug products.
On January 5, Aba Chemicals Corporation(300261) replied that the company was not the only manufacturer in China with the synthesis process of carbonic anhydride and its derivatives. The customers of the company’s carbonic anhydride and its derivatives are mainly Chinese customers and Indian customers. It is impossible to determine whether the company’s carbonic anhydride and its derivatives are indirectly supplied to Pfizer.
Subsequently, the stock price of Aba Chemicals Corporation(300261) fell 21.45% for two consecutive days. However, from January 10, the company’s share price rose again in a row. As of January 14, the cumulative increase was 81.53%. So, Aba Chemicals Corporation(300261) ushered in the second suspension.
On January 19, the Shenzhen Stock Exchange issued the third letter of concern, asking Aba Chemicals Corporation(300261) to explain whether there is a hot spot of covid-19 drugs by publishing information on the official website, and whether it is suspected to use the information about the possible indirect use of carbonic anhydride in Pfizer covid-19 oral medicine, so as to improve the expectation of investors and cooperate with the speculation of the company’s share price.
In response to the above questions, Aba Chemicals Corporation(300261) replied on January 28 that the company released the commercial mass production information of carlon anhydride based on the business perspective and the needs of downstream customers to promote and sell the company’s carlon anhydride and derivatives. At the time of releasing the above information, the company did not know that the raw material of Pfizer covid-19 oral drug may involve carbonic anhydride.
On February 7, Aba Chemicals Corporation(300261) share price recovered after the limit fell. Since February 14, Aba Chemicals Corporation(300261) share price has risen again. As of February 16, Aba Chemicals Corporation(300261) shares had risen 355.75% compared with November 1 last year.
In 2020, Aba Chemicals Corporation(300261) was punished for violation of letter pHi in darunavir pharmaceutical intermediate business.
The CSRC found that Aba Chemicals Corporation(300261) repeatedly disclosed that its subsidiary is the main supplier of key intermediates of darunavir. However, after verification, Aba Chemicals Corporation(300261) exaggerated the income, output, sales volume and market position of the business, which is misleading to the market.
In this regard, the CSRC decided to give a warning to Aba Chemicals Corporation(300261) and impose a fine of 400000 yuan; The then chairman and the Secretary of the board of directors were warned and fined a total of 350000 yuan.
