On the morning of September 9, Wolwo Bio-Pharmaceutical (ASX: my abbreviation not applicable as it's an A-share company; here referencing 我武生物) saw its stock price take a sharp nosedive at the market open. As of the time of writing, the shares had dropped 8.52% to 20.07 yuan per share, bringing the company's market capitalization to approximately 10.508 billion yuan.
In terms of news flow, last night, Wolwo Bio-Pharmaceutical announced that its actual controllers, the married couple Hu Gengxi and Chen Yanni (YANNI CHEN), had made relevant arrangements regarding property division and other matters due to their divorce. According to the agreement between the two parties, Chen Yanni will become the sole actual controller of the listed company. Meanwhile, Hu Gengxi will retain only an 8.35% stake in Wolwo Bio-Pharmaceutical and will resign from his positions as Chairman, Director, and Legal Representative, no longer holding any role in the listed company.
Specifically, the actual controllers, Hu Gengxi and Chen Yanni, dissolved their marriage on September 8, 2026. According to the terms of the Divorce Agreement, Hu Gengxi retains the approximately 8.35% of the listed company's shares that he directly holds. The 100% equity that Hu Gengxi holds in Deqing Mingchen Investment Consulting Co., Ltd. will, after the divorce, be transferred to Niu Chen'an, the son of his daughter Hu Mushuang (HUMUSHUANG). Chen Yanni, on the other hand, retains the 100% equity in HAORY COMPANY LIMITED that she holds, thereby indirectly holding 40% of the shares in Zhejiang Wolwo Management Consulting Co., Ltd., making her the largest shareholder. Wolwo Consulting serves as the controlling shareholder of the listed company.
According to Wolwo Bio-Pharmaceutical's prospectus, Hu Gengxi and Chen Yanni were born in 1964 and 1965, respectively, and are both now in their sixties. Both had early career backgrounds at the Massachusetts Institute of Technology in the United States. Subsequently, Hu Gengxi returned to China in 1996 to pursue scientific research and founded Wolwo Bio-Pharmaceutical in 2002, while Chen Yanni continued to develop her career in the U.S. biopharmaceutical sector and acquired American citizenship. Since then, the couple successfully listed Wolwo Bio-Pharmaceutical on the A-share market in early 2014. Since its listing, Hu Gengxi has long served as Chairman, while Chen Yanni has served as a director of the company.
Comments