After the veteran of who also served as chief financial officer and board secretary left office, Yunnan Baiyao Group Co.Ltd(000538) quickly elected a new board secretary. Who will hold the remaining chief financial officer position has now become the focus of market attention.
On January 18, Yunnan Baiyao Group Co.Ltd(000538) announced that Qian Yinghui was appointed secretary of the board of directors of the company.
Recently, Wu Wei, who has always served as the board secretary, no longer served as the Yunnan Baiyao Group Co.Ltd(000538) CFO and board secretary due to job adjustment.
In this regard, Yunnan Baiyao Group Co.Ltd(000538) said that Wu Wei will continue to serve as senior vice president and engage in other operations and management. The adjustment will not have a significant impact on the company’s production and operation.
On January 19, Yunnan Baiyao Group Co.Ltd(000538) opened lower all the way. As of the closing, the share price closed at 98.75 yuan / share, down 3.63%.
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With Qian Yinghui as the Secretary of the board of directors, Yunnan Baiyao Group Co.Ltd(000538) who will be the “Mr. accountant” (CFO) has become the focus of attention.
Wu Wei, who had previously served as the company’s chief financial officer, served successively as the vice minister, Minister and securities affairs representative of the company’s assets and finance department after entering Yunnan Baiyao Group Co.Ltd(000538) in 2000. Since April 2009, Wu Wei has officially become Yunnan Baiyao Group Co.Ltd(000538) Secretary of the board of directors and chief financial officer, and has been re elected for 13 years.
During his tenure in Yunnan Baiyao Group Co.Ltd(000538) , Wu Wei also personally participated in the important node of Yunnan Baiyao Group Co.Ltd(000538) overall listing. On January 14, Wu Wei resigned as the company’s board secretary and chief financial officer due to job adjustment.
In 2021, a series of investments of Yunnan Baiyao Group Co.Ltd(000538) also attracted criticism from many investors. You know, Yunnan Baiyao Group Co.Ltd(000538) the third quarterly report of 2021 is really not very “good-looking”.
According to the data, in the third quarter of 2021, its revenue was 9.279 billion yuan, a year-on-year increase of 9.98%, and its net profit was only 648 million yuan, a year-on-year decrease of 63.94%; In the first three quarters, the revenue reached 28.362 billion yuan, a year-on-year increase of 18.52%, the net profit was 2.45 billion yuan, a year-on-year decrease of 42.38%, and the loss of income from changes in fair value reached 1.554 billion yuan.
For a time, the topic of Yunnan Baiyao Group Co.Ltd(000538) loss became a hot topic. Many investors questioned that “not doing business” turned its main business to investment. After all, the loss of 1.5 billion was not a small number, and it directly affected the operating performance of Yunnan Baiyao Group Co.Ltd(000538) in the whole year.
On January 13 this year, when accepting the investigation of institutional investors, Yunnan Baiyao Group Co.Ltd(000538) said that the company fully listened to the opinions and suggestions of the majority of investors on the development of the company, and strictly controlled the investment scale of the secondary market on the basis of the original risk control measures. In 2022, within the limit approved by the board of directors, the company will gradually reduce its positions and will not continue to increase its holdings.
In addition, in the salary of Yunnan Baiyao Group Co.Ltd(000538) executives, Wu Wei’s salary is 5089900 yuan, which is also on the top of the whole A-share listed company. Now it has been “elevated” to the position of a senior vice president, but it is possible to get a raise. According to public data, the annual salary of Yunnan Baiyao Group Co.Ltd(000538) 4 senior vice presidents is more than 8 million.
Some investors analyzed that Wu Wei’s resignation is the need for Yunnan Baiyao Group Co.Ltd(000538) to move towards internationalization. Up to now, the position of Yunnan Baiyao Group Co.Ltd(000538) chief financial officer is temporarily vacant, and the Secretary of the board of directors is concurrently held by Chairman Wang Minghui.
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In recent years, Yunnan Baiyao Group Co.Ltd(000538) has been involved in stock speculation, the establishment of private equity funds and the acquisition of listed companies. From the side, we can also see Yunnan Baiyao Group Co.Ltd(000538) ‘s desire to improve performance and the operating pressure it faces.
However, without any substantive breakthrough in these businesses, Yunnan Baiyao Group Co.Ltd(000538) had to continue to seek revenue growth. This time, it turned its attention to the field of medical beauty.
Yunnan Baiyao Group Co.Ltd(000538) (hereinafter referred to as ” Yunnan Baiyao Group Co.Ltd(000538) “), established in 1993, formerly known as Yunnan Baiyao Group Co.Ltd(000538) factory. The main business mainly includes the R & D, production and sales of self-made industrial products, as well as the wholesale and retail business of drugs. The business scope covers the fields of drugs, health products, traditional Chinese medicine resources and pharmaceutical circulation. The main products such as Yunnan Baiyao Group Co.Ltd(000538) ointment, Yunnan Baiyao Group Co.Ltd(000538) aerosol, Yunnan Baiyao Group Co.Ltd(000538) band aid and Yunnan Baiyao Group Co.Ltd(000538) toothpaste have become the top market segments in China.
With the historical opportunity of economic innovation and consumption upgrading, medical beauty has become a lifestyle of public concern, giving birth to the development of the industry. Relevant data show that in 2021, when the epidemic prevention and control is normalized, medical and American consumption continues to show a vigorous growth trend. In 2021, the scale of China’s medical and American market reached 184.6 billion yuan, returning to the growth channel of more than 20%.
In fact, as early as the beginning of 2021, Yunnan Baiyao Group Co.Ltd(000538) has started the layout of Yimei track.
Specifically, in January 2021, Yunnan Baiyao Group Co.Ltd(000538) officially launched Yunnan Baiyao Group Co.Ltd(000538) Shanghai Co., Ltd. to build a R & D center and a precisely customized skin management platform in Gubei office area; At the same time, in Kunming, ” Yunnan Baiyao Group Co.Ltd(000538) precision customized skin management center”, “picks AI AI private skin management center” store, has also launched a “pick up” APP, which has two functions, one is on-line detection of skin, and the other two is the sale of Yunnan Baiyao Group Co.Ltd(000538) beauty products, such as facial mask, sunscreen and so on. In November, it cooperated with IBM and OMRON to release Yunnan Baiyao Group Co.Ltd(000538) the first AI skin personalized customization system “mis-uniq”; In December, its secondary wholly-owned subsidiary transferred 100% equity of Yunzhen company to the group free of charge. After the equity transfer is completed, Yunnan Baiyao Group Co.Ltd(000538) plans to increase the capital of Yunzhen company by 500 million yuan. The subsidiary of Yimei was adjusted from a third level subsidiary to a second level subsidiary and increased its capital. Its intention to increase its position in Yimei was obvious.
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According to the data of the white paper on medical beauty in 2021, Chinese domestic medical beauty brands are rising rapidly. The import and domestic proportions of hyaluronic acid, botulinum toxin and photoelectric instruments are 6:4, 6:4 and 7:3 respectively. Domestic enterprises represented by Bloomage Biotechnology Corporation Limited(688363) , Haohai, Imeik Technology Development Co.Ltd(300896) , Hengli, Yaguang and Peninsula have occupied more than 30% of the medical beauty market.
When other brands have accounted for half of the country, Yunnan Baiyao Group Co.Ltd(000538) may still have time to test whether it can find a breakthrough.
At the same time, the national medical and American regulatory policies are also being issued. In addition, from the perspective of the medical and American institutions submitting the prospectus, the profitability of downstream institutions is not optimistic.
According to the data of the first half of 2021, the revenue of Huadong Medicine Co.Ltd(000963) medical beauty business increased by 46.25% year-on-year, and the revenue of medical beauty reached 565 million. However, compared with the total revenue of 17.2 billion in the first half of the year, the proportion of medical beauty is still relatively small.
In addition, it should be noted that the secondary market of Yunnan Baiyao Group Co.Ltd(000538) has not improved despite the support of medical and US stocks. In February 2021, its share price was still at a high level of 159.38 yuan / share. After a dividend distribution of 0.39 yuan / share in the following year, its share price did not rise significantly. It hit 84 yuan / share in October.
At the same time, in the past three months when Chinese medicine stocks rose sharply, Yunnan Baiyao Group Co.Ltd(000538) even the industry and even the index failed to win. According to statistics, in the last 10 trading days, Yunnan Baiyao Group Co.Ltd(000538) share price has not increased by more than 20%, and the market value has evaporated by more than 60 billion yuan compared with the peak in February 2021.
