ST Huluwava Obtains Registration Certificates for Yi Huang Tang Granules and Oplirnon Hydrochloride Injection; May Still Face Compensation Claims Due to Information Disclosure Issues

Can AI’s new product approval help the company reverse recent losses?

Radar Finance Text | Feng Xiuyu Edited | Li Yihui

On March 20, ST Huluwawa (605199) announced that the company recently received drug registration certificates from the National Medical Products Administration for Yi Huang Tang Granules and Salbutamol Hydrochloride Injection. Yi Huang Tang Granules are classified as Category 3.1 traditional Chinese medicine, and the company is the first domestic holder of the drug approval and manufacturing license for this product. Its functions include strengthening the kidneys and stopping leucorrhea, clearing heat and removing dampness, used for kidney deficiency with damp-heat symptoms. Salbutamol Hydrochloride Injection is a Category 3 chemical drug, indicated for short-term intravenous treatment of acute heart failure when other medications are ineffective. Thirteen domestic manufacturers have been approved to produce and sell it.

The company’s R&D investment in these two drugs was 2.108 million yuan and 3.224 million yuan, respectively. Obtaining the drug registration certificates will further diversify the company’s product line, but due to the characteristics of the pharmaceutical industry, sales performance remains uncertain.

It is also worth noting that ST Huluwawa may face claims related to disclosure issues.

In this regard, Lawyer Zhang Yanwei, Director of Shanghai Renying Law Firm, told Radar Finance that if a listed company’s failure to disclose information timely or accurately causes losses to investors, the affected investors can seek legal compensation. Investors who bought ST Huluwawa shares between April 28, 2022, and April 22, 2025, and still hold the shares as of the close on April 23, 2025, can register to claim compensation. To participate, follow the public account “Lei Zhu Ba” (Lei Zhu code: 88). There are no fees before receiving compensation.

According to Tianyancha, ST Huluwawa was established on June 22, 2005, with a registered capital of 4,001,087,520 yuan. The legal representative is Liu Jingping. Its registered address is No. 8, Pharmaceutical Valley Fourth Road, Phase II, Pharmaceutical Valley Industrial Park, Haikou National High-tech Zone, Haikou City, Hainan Province. Its main business includes drug research and development, manufacturing, and sales.

Currently, the company’s chairman is Liu Jingping, the secretary is Wang Qingtao, with 2,103 employees. The actual controllers are Liu Jingping and Tang Xudong.

The company has stakes in nine subsidiaries, including Laibin Weiv Pharmaceutical Extract Co., Ltd., Guangxi Laibin Huluwawa Pharmaceutical Co., Ltd., Zhejiang Huluwashijia Pharmaceutical Co., Ltd., Guangxi Weiv Pharmaceutical Co., Ltd., and Hainan Huluwawa Pharmaceutical Co., Ltd.

In terms of performance, the company’s operating income was 1.515 billion yuan in 2022, 1.795 billion yuan in 2023, and 1.414 billion yuan in 2024, with year-on-year growth of 11.91%, 25.75%, and -21.26%, respectively. Net profit attributable to shareholders was 85.68 million yuan, 10.85 million yuan, and -274 million yuan, with year-on-year growth of 18.78%, 24.29%, and -2629.23%. During the same period, the company’s asset-liability ratio was 56.09%, 62.12%, and 74.93%.

Regarding risks, Tianyancha data shows the company has 65 internal Tianyan risks, 77 surrounding risks, 44 historical risks, and 149 warning alert risks.