Chase Sun Pharmaceutical has decided to terminate a Class 1 chemical new drug project for anti-hepatitis C. The project has seen no further investment since 2012, leaving 38 million yuan in raised funds idle for more than 13 years. The company also completed several IPO and private placement fundraising projects, permanently supplementing working capital with approximately 105 million yuan in surplus raised funds. Chase Sun Pharmaceutical's operating revenue and net profit attributable to the parent company have declined for four consecutive years. In 2025, revenue fell to 4.941 billion yuan, with net profit attributable to the parent at just 18 million yuan, and return on equity plummeting from 9.18 percent in 2021 to 0.22 percent in 2025. In recent years, the company has continued to liquidate and deregister multiple subsidiaries and transfer controlling stakes in sub-subsidiaries as part of a streamlining self-rescue effort, but its core performance has yet to reverse the downward trend.
Tianjin Chase Sun Pharmaceutical Co LtdTermination of anti-HCV drug project, idle funds for 13 years, declining revenue and profit, and low ROE indicate poor capital allocation and financial deterioration.
Nanjing Well Pharmaceutical Co Ltd