[quick news] as soon as a company goes public, the chairman of the board is investigated. What did he do?

After less than one year's listing, the acquisition and investment continued on April 3 Tiansheng Pharmaceutical Group Co., Ltd (hereinafter referred to as Tiansheng pharmaceutical) announced that Liu Qun, the chairman of the board of directors, was required to assist in the investigation due to personal reasons and was unable to perform the relevant duties of the chairman temporarily The general manager shall perform the duties on behalf of him On the same day, Tiansheng pharmaceutical also issued another announcement, intending to acquire the equity of Sichuan Yuxin Pharmaceutical Co., Ltd the company's shares were suspended from the opening of the market on April 3, promising to strive for the suspension for no more than one month It is worth noting that less than a year after landing in the capital market, Tiansheng pharmaceutical has made frequent foreign investment and acquisitions It has announced the acquisition of equity of three companies, namely, Hubei Xianming Medical Equipment Co., Ltd., Chongqing Junyao pharmaceutical packaging products Co., Ltd and Chongqing Guangyao Photoelectric Technology Co., Ltd In the afternoon of April 3, the chairman of the board of directors or related to the corruption of drug purchase and sale, Tiansheng pharmaceutical issued a notice of suspension of major asset restructuring, and is planning major asset restructuring matters, and plans to acquire the equity of Yuxin pharmaceutical industry, and the company's shares will be suspended from the opening of the market on April 3 The company promises to strive for the suspension of trading for no more than one month, that is, strive to disclose the restructuring plan (or report) before May 2, 2018 According to the public information, Yuxin pharmaceutical mainly produces vitamin D series (VD2, VD3), rutin series, Andrographis series and pueraria series At the same time of the restructuring announcement, Tiansheng pharmaceutical also released the announcement that Liu Qun, chairman of the board of directors, was asked by relevant institutions to assist in the investigation due to personal reasons The announcement pointed out that on March 27, when Tiansheng pharmaceutical held a discussion meeting of the company's management team, Liu Qun, chairman of the board of directors, was absent, and the company immediately understood and verified the situation Upon verification, the company learned from its relatives on April 1, 2018 that the chairman of the board was asked by relevant institutions to assist in the investigation due to personal reasons, and he was unable to fully perform the relevant responsibilities of the chairman of the board for the time being As for the reasons why the chairman of the board of directors is asked to assist in the investigation and whether it will affect the acquisition process and other issues, Tiansheng pharmaceutical told Beijing News on April 9 that the company has not yet received the written documents from relevant organizations, and that there is an important progress in the acquisition matters, which will be disclosed on a regular basis At present, the request of the chairman of the board of directors to assist in the investigation does not affect the normal operation of the company However, there are media reports that it may be related to drug purchase and sale corruption According to the prospectus previously disclosed by Tiansheng pharmaceutical, from 2014 to 2016, Nanchuan District People's Hospital of Chongqing was the fourth largest sales customer in the pharmaceutical circulation sector of the company, with a sales amount of 105 million yuan in 2016 On August 10, 2017, the website of Chongqing Commission for Discipline Inspection once reported that Li Jianping, the former president of Nanchuan District People's Hospital in Chongqing, had been "double opened" due to collusion with the boss of the pharmaceutical enterprise to collect money, and his suspected criminal problems and clues were transferred to the judicial organ for handling according to law Guo Fanli, a well-known economist, said that after the listing of Tiansheng pharmaceutical, under the leadership of Liu Qun, the leader, the company has been expanding frequently The actual controller of Tiansheng pharmaceutical is required to assist in the investigation In the short term, the major asset restructuring matters planned by Tiansheng pharmaceutical will have a lot of changes, which may lead to the suspension of the project In the long run, this may lead to the change of the management style of Tiansheng pharmaceutical and the loss of the leader who leads its frequent M & A Tiansheng pharmaceutical may become more conservative and pay more attention to R & D Less than one year after its listing, Tiansheng pharmaceutical is mainly engaged in pharmaceutical manufacturing and pharmaceutical circulation business with frequent expansion activities, covering the fields of traditional Chinese medicine planting and processing, pharmaceutical research and development, pharmaceutical manufacturing, pharmaceutical circulation, etc In drug production, the leading products are Xiaoer Feike granules, erythromycin enteric coated capsules, Yinshen Tongluo capsules, Yanshen Jianwei capsules, sodium chloride injection, glucose injection, Xuesaitong injection, etc Since it landed in the capital market in May 2017, the company has started frequent investment and acquisition activities In June 2017, the company issued two investment Announcements: first, it plans to build the industrialization project of traditional Chinese medicine in Qianjiang District of Tiansheng Pharmaceutical Group in Zhengyang Industrial Park, Qianjiang District, Chongqing, with a total investment of 150 million yuan; second, it plans to build the GMP construction project of chemical APIs in Changshou economic and Technological Development Zone by Chongqing Changtian Pharmaceutical Co., Ltd., a wholly-owned subsidiary of the company, with a total investment of 2 In August 2017, Tiansheng Pharmaceutical Co., Ltd plans to acquire 5.1 million shares of Hubei Xianming Medical Equipment Co., Ltd with its own capital of 5.1 million yuan, and the company will also hold 51% of the shares of the latter; in September 2017, the company announced that it plans to acquire the shares of Chongqing Junyao pharmaceutical packaging products Co., Ltd with its own capital; In October 2017, the company plans to invest 14.6 million yuan in cash in Chongqing Guangyao Photoelectric Technology Co., Ltd and acquire 20% of its shares In terms of performance, Tiansheng pharmaceutical's first annual report data after entering the capital market showed normal performance According to the 2017 annual performance express, the company achieved a total operating revenue of 2.257 billion yuan and a net profit attributable to shareholders of the listed company of 250 million yuan, with a year-on-year growth of 8.13% and 11.54% respectively Guo Fanli said that to crack down on corruption in the pharmaceutical industry, relevant departments should strengthen the punishment of commercial bribery in the pharmaceutical industry, strictly regulate the cooperation between pharmaceutical enterprises, hospitals and doctors, strengthen the supervision of financial and bribery of pharmaceutical enterprises, further promote the reform of the medical and health system, improve the treatment of doctors, and increase the opportunity cost for doctors to take bribes At the same time, we should strictly supervise the "academic conferences" held by pharmaceutical enterprises to avoid bribery in disguised form.