Recently, Jiangsu Wuzhong Pharmaceutical Development Co., Ltd. (hereinafter “Jiangsu Wuzhong”) announced its plan to transfer 100% equity of its wholly-owned subsidiary Wuzhong Aesthetic Biotechnology (Shanghai) Co., Ltd. (hereinafter “Shanghai Wuzhong Aesthetic”) for RMB 80 million. The acquirer is Shanghai Qingyu Biotechnology Co., Ltd. (hereinafter “Shanghai Qingyu Bio”).
According to the announcement, Jiangsu Wuzhong’s decision to sell the asset is primarily driven by its own cash flow pressure, with certain outstanding debts approaching maturity. The move aims to optimize the company’s asset structure, unlock existing assets, and effectively address its debt issues. This transaction does not constitute a related-party transaction.
Public information shows that Shanghai Wuzhong Aesthetic was established on October 18, 2023, with a registered capital of RMB 50 million. Its core assets include technologies or rights related to medical aesthetics, such as recombinant collagen and sodium hyaluronate-PDRN. The company is a subsidiary under Jiangsu Wuzhong’s medical aesthetics segment and primarily handles research and development. From January to November 2025, the company generated revenue of RMB 5.7054 million but posted a net loss of RMB 21.8289 million.
The acquirer, Shanghai Qingyu Bio, was established on January 26, 2026—less than a month before the announcement of this transaction. It has a registered capital of RMB 30 million, and its shareholders are Wang Jinglong and Zhang Xiaomei.
It is worth noting that Jiangsu Wuzhong formally delisted at the end of 2025. However, a review of its development history and financial data shows that its medical aesthetics business has demonstrated significant growth since inception.
Jiangsu Wuzhong established its medical aesthetics division in 2021, officially entering the medical aesthetics sector. Subsequently, it launched companies including Shanghai Wuzhong Aesthetic, focusing on injectable medical aesthetic products. By the end of 2024, the company’s medical aesthetics division had a sales team of 55 people, covering 537 medical aesthetic institutions, including chain brands such as Meilai, Huahan, and Langzi.
According to the latest financial report, in the first three quarters of 2025, Jiangsu Wuzhong achieved revenue of RMB 784 million, down 38.85% year-on-year. Among this, its medical aesthetic biotechnology business generated revenue of RMB 304 million, up 52.78% year-on-year.
