"Fake" nearly 60% of sales? Baiji Shenzhou replied: the report is not true!

This morning, the report about "Baiji Shenzhou was accused of forging 60% of sales" woke up countless people! On September 5 local time, J capital research, a capital research company, released a report saying that Baiji Shenzhou may have "forged" sales Compared the data reported by Baiji Shenzhou with J capital's estimate, "forgery" accounts for 57% As soon as the news came out, Baiji Shenzhou U.S stocks plunged in the session, closing down 6.78% as of September 5, with a market value of 7.897 billion Hong Kong shares fell 8.14% as of publication J Capital research's report alleges that there may be "sales fraud" in Baiji, and mentions several doubts: capital expenditure: since 2016, Baiji has three manufacturing plants with a net fixed asset of $157 million, and another commitment of about $300 million, which has paid $25 million Although it does not produce drugs, it still ranks fourth Fake Revenue: J capital research said interviews in China and a review of the Ministry's financial statements showed that Baiji Shenzhou had fabricated more than $154 million in revenue Since the fourth quarter of 2017, Baiji Shenzhou has taken over the sale of celgene drugs in China, overstating 133% High R & D cost: Baiji's R & D expenditure is eight times higher than that of its direct competitors No privilege: Baekje describes itself as a local pharmaceutical company favored by regulators In fact, Baiji Shenzhou, like other foreign companies, stands behind the approval line We interviewed Chinese regulators, who said that Baiji does not enjoy the privilege of rapid approval completely approved by Chinese companies The report said it had confirmed with regulators that Baiji's own drug trials could not be completed by the end of this year, which means there will be no new Baiji drugs in China's reimbursement list this year Suspicious acquisition: it is reported that Baiji Shenzhou had a suspicious real estate transaction in 2018 - although the company signed a 10-year lease on a building, it still bought the building for $38 million - which looks like a deal between Baiji Shenzhou and its affiliates, given that the purchase price is at least $10 million higher than the normal price Suspicious costs: a Baiji Shenzhou subsidiary that did not disclose its address and operations included $69.8 million in "costs" that J capital believed were used for round-trip sales, the report said J Capital also pointed out that "there is no future for Baiji, and the management knows it well." The company's insiders have sold $322 million worth of shares, of which the company's founder sold $189 million Sina pharmaceutical contacted Baiji Shenzhou for the first time on this news, and Baiji Shenzhou related personnel said: "the report is not true J Capital research is a foreign short agency, this report is a malicious short for our company " At the same time, the company said it was dealing with the matter The specific treatment plan of Baiji Shenzhou is unknown, and Sina pharmaceutical will continue to pay attention to it However, a search for J capital research will find that news of its "short selling" is everywhere, which can be described as bad.