On the evening of October 8, Chongqing Lummy Pharmaceutical Co., Ltd. (300006.SZ) announced plans to publicly list and sell certain assets, namely the land use rights and above-ground buildings and structures at No. 8 Yueji Road, Nan'an District, Chongqing, held by the company, with a listing reserve price of 31.232 million yuan.

On October 9, regarding the transfer of the pharmaceutical plant and other matters, a reporter contacted the securities department of Chongqing Lummy Pharmaceutical Co., Ltd. as an investor. A staff member stated that the company's announcement contains specific details, and the impact on the company's net profit is more than 20 million yuan.

The asset subject to the transfer is the old plant site of Chongqing Lummy Pharmaceutical Co., Ltd., built in 2003. The plant area contains a total of 6 buildings with a total area of 10,104.28 square meters; there is also 1 solid preparation production line, 7 structures, and 1 parcel of industrial land covering an area of 24,443 square meters. Except for the production line equipment, which will be relocated to the Chayuan preparation plant, the remaining buildings, structures, and land will be sold as a whole.

It is worth noting that there is a considerable gap between the book value of these assets and the listing price. As of March 31 this year, the total book value of the subject assets was 3.8248 million yuan, while the appraised value was 31.232 million yuan. The company stated that the listing reserve price is based on the appraised value.

Chongqing Lummy Pharmaceutical Co., Ltd. stated that after the completion of this public listing and sale, it will help revitalize existing assets, further optimize the company's asset structure, improve production quality management standards, and promote the company's sustained and stable development, in line with the company's overall business strategy. If the transaction is completed at the reserve price, Chongqing Lummy Pharmaceutical Co., Ltd. expects to obtain a net profit impact of approximately 20.8422 million yuan from this transaction.

Where the company currently stands

However, for a company that has been losing money for seven consecutive years, how much this money can help remains unknown. Public information shows that Chongqing Lummy Pharmaceutical Co., Ltd. listed on the ChiNext board of the Shenzhen Stock Exchange in October 2009. It is a long-established chemical pharmaceutical enterprise with more than twenty years of history, covering specialty drugs (mainly including anti-tumor drugs, digestive system drugs, and parenteral nutrition drugs), anti-infection drugs, and others. Its core products include carbon nanoparticle suspension injection (Canalin), esomeprazole series, and others.

Financial reports show that Chongqing Lummy Pharmaceutical Co., Ltd. has suffered losses for seven consecutive years. From 2019 to 2025, the company's net profit attributable to shareholders of the parent company was -155 million yuan, -327 million yuan, -101 million yuan, -68.71 million yuan, -8.927 million yuan, -87.8 million yuan, and -135 million yuan, respectively, with cumulative losses of approximately 878 million yuan.

As of the first half of 2026, Chongqing Lummy Pharmaceutical Co., Ltd. had still not emerged from losses. In the first half, the company's revenue was 350 million yuan, a year-on-year decrease of 7.09%; net profit attributable to shareholders of the parent company showed a loss of approximately 23.42 million yuan, a year-on-year reduction in losses.

In the first half, the decline in Chongqing Lummy Pharmaceutical Co., Ltd.'s revenue was mainly affected by year-on-year declines in sales volume and sales prices of certain products. Among them, specialty drugs revenue fell 20.71% year-on-year, making it the main drag on revenue contraction. From a business structure perspective, specialty drugs (including the flagship product carbon nanoparticle suspension injection "Canalin" and esomeprazole and other anti-tumor and digestive system drugs) generated revenue of 114 million yuan, down 20.71% year-on-year, making it the main sector dragging down revenue; large-volume infusion products revenue was 92.5055 million yuan, down 6.65% year-on-year; pharmaceutical distribution revenue was 91.3622 million yuan, up 22.88% year-on-year, becoming the only growing sector.

In terms of gross margin, the gross margin for specialty drugs was 63.82%, down 5.68 percentage points year-on-year; the gross margin for large-volume infusion products was 53.58%, basically flat; the gross margin for pharmaceutical distribution was 28.94%, up 4.90 percentage points year-on-year.