By LI Kewen
Boya Bio-Pharmaceutical chairman TAO Ran and board member LI Xingfa have resigned from the company to be replaced by QIU Kai and SHEN Jingfeng.
China Resources became the controlling shareholder of Boya Bio-Pharmaceutical in 2020 and owns 29 of the company. Tao and Li, China Resources veterans, came to Boya in 2020. Qiu and Shen have also been working for China Resources for most of their careers.
Boya Bio-pharmaceutical operates in the blood products industry, with a product range including albumin, human immunoglobulin, and coagulation factors. The company has 14 single-donor plasma stations.
In H1, Boya saw revenue up 10.2 percent YoY to 1.5 billion yuan (US0 million), a net profit of 326 million yuan.
Boya's blood and non-blood segments are faring very differently. Particularly affected by central government procurement, performance in diabetes and other non-blood businesses has declined, and the company is divesting such businesses.
Boya's blood products brought in 762 million yuan in H1, a net profit of 552 million yuan more than double last year's level.
The key to blood products lies in the number of single-donor plasma stations. Boya's 14 plasma stations are nothing to write home about.
Since 2001, China has not approved the establishment of new blood product production enterprises. Currently, the entire industry is undergoing a process of mergers and acquisitions among existing enterprises.
