The Paper's reporter Li Xiaoxiao
Xie Bing, the founder of China Biopharmaceuticals, stepped down as CEO and was succeeded by Li Yi, former chairman of JPMorgan Chase & Co. Securities China.
On August 21, China Biopharmaceutical Co., Ltd. (China Biopharmaceuticals, 01177), a Hong Kong-listed company, announced the resignation of the Company's Chief Executive Officer, Xie Bing, and his transfer to the position of Senior Vice Chairman of the Board of Directors of the Company, effective August 19. Mr Tse will remain as an Executive Director of the Company and a member of the Executive Directors Committee and the Nomination Committee.
Li Yi's remuneration agreement in a biopharmaceutical contract with China
In the same announcement as the news of the resignation, China Biopharma appointed Li Yi as an executive director and chief executive officer (CEO) for an initial term of three years. According to the information disclosed in the announcement, China Biopharmaceutical pays an annual honorarium of $3.5 million in cash, while also paying an annual reward of $3.5 million in kind, which means that Li Yi's annual salary reaches $7 million. In addition, China Biopharma paid its $2 million entry bonus in cash in a lump sum.
According to the above figures, Li Yi can receive a total of $9 million from China Biopharmaceuticals in the first year, totaling more than 62 million yuan, and the annual honorarium and bonus since then have also been nearly 50 million yuan.
Li Yi: Former chairman of JPMorgan Chase & Co. China, former football player
What kind of person is Li Yi, who has an annual salary of nearly 50 million?
According to information disclosed by China Biopharmaceuticals, Li Yi, 59, graduated from the University of Pennsylvania with an MBA from the Wharton School. Previously, Li Yi graduated from and holds a bachelor's degree in law from China University of Political Science and Law and a bachelor's degree from Beijing Sport University.
Prior to joining China Biopharmaceuticals, Li Yi worked at JPMorgan Chase & Co. for more than 5 years and was appointed Chairman of J.P. Morgan Securities (China) Co., Ltd., China's first new foreign-controlled joint venture securities company in September 2019.
When he joined J.P. Morgan Chase & Co. in October 2014, he served as Chairman and Chief Executive Officer of J.P. Morgan China, and was appointed Chairman of J.P. Morgan Chase & Co. (China) Limited in April 2015 and Vice Chairman of J.P. Morgan Global Bank in May 2018, aiming to improve the internationalization of China's capital markets and the participation of Chinese companies in international capital markets.
Before joining JPMorgan Chase, Li Yi's resume was also full of highlights.
According to the China Biopharmaceutical Announcement, Li Yiyi serves as the chairman and president of UBS China and the chairman of UBS Securities Limited. Under the leadership of Li Yi, UBS successfully established China's first fully licensed Sino-foreign joint venture securities company and built many Chinese platforms such as securities, banking, wealth management, asset management and futures.
From 2001 to 2005, Li Yi served as Managing Director of China Merchants International Limited, during which time the company's overall performance improved nearly fourfold and was included in the Hang Seng Index in 2004. Also in 2004, Li Yi was selected by CNBC Asia as one of the "Most Outstanding Business Leaders in Asia".
In 2018, Li Yi was awarded the "Outstanding Contribution Award for Global Multinational Company Leaders" by the China International Association for the Promotion of Multinational Corporations.
In addition to the $7 million annual compensation, China Biopharma also announced that li yi held 230,000 shares of the company as of the announcement date.
It is worth mentioning that in addition to the above business experience, Li Yi was also a professional football player from 1976 to 1980. In a 2016 interview with 21st Century Business Herald, Li Yi said, "On the surface, football is a sport that can strengthen people's physiques; but I seriously understand that this sport actually brings me not only a healthy physique, but also how to behave for people." ”
China Biopharmaceuticals: 7 drug varieties entered the third batch of collection
China's biopharmaceuticals, where Li Yixin works, are not simple either.
In the 2019 Top 100 List of Chinese Chemical Pharmaceutical Enterprises released on July 23, China Biopharmaceutical ranked second, second only to Hengrui Pharmaceutical.
The major events of the company disclosed on the official website of China Biopharmaceuticals only came to 2000, when China Biopharmaceuticals were listed on the Growth Enterprise Market of the Hong Kong Stock Exchange, in 2003, the company was listed on the main board of the Hong Kong Stock Exchange, and in 2017, the market value of China's biopharmaceuticals has exceeded 100 billion, and as of the close of trading on August 26, the market value has reached 171.93 billion Hong Kong dollars.
In fact, chia tai tianqing pharmaceutical group, a well-known domestic pharmaceutical company, is the core enterprise of China's biopharmaceuticals, and it also owns Beijing Tide Pharmaceutical Co., Ltd., Nanjing Chia Tai Tianqing, Chia Tai Fenghai, Chia Tai Pharmaceutical (Qingdao) and so on.
According to a 2013 report by the Securities Times, Chia Tai Tianqing was originally a pharmaceutical factory under Jiangsu Nongken Group, and was acquired in 1997 as a holding by Chia Tai Pharmaceutical Group, which was the predecessor of China Biopharmaceuticals, and then Chia Tai Group established China Biopharmaceuticals in 2000 on the basis of Chia Tai Pharmaceutical Group.
According to the official website information, China Biopharmaceuticals and affiliates cover the entire industrial chain of pharmaceutical research and development platform, intelligent production and strong sales system, and the products include a variety of biological drugs and chemical drugs, which are in a dominant position in many potential therapeutic fields such as liver disease, tumor, cardiovascular and cerebrovascular diseases, orthopedics, digestive system, anti-infection and respiratory diseases.
In 2019, the revenue of each product of China's biopharmaceuticals accounted for
According to the 2019 financial report, the top three drug categories of China's biopharmaceuticals are liver disease products, anti-tumor products and cardiovascular and cerebrovascular products, of which liver disease products achieved revenue of 5.74 billion yuan, accounting for 23.7% of revenue; anti-tumor products revenue of 5.43 billion yuan, accounting for 22.4% of revenue; cardiovascular and cerebrovascular products revenue of 3.12 billion yuan, accounting for 12.9% of revenue.
China's biopharmaceuticals started with liver disease drugs, but the revenue of liver disease products fell by 10.6% in 2019, which has a certain relationship with collection.
According to the insight database, entecavir dispersible tablets, a first-line drug for the treatment of hepatitis B under China Biopharmaceuticals, were the selected varieties of 4+7 in 2018, with a drop of more than 90%. Since then, in the expansion of the collection and the second batch of collection, 5 and 3 varieties of China Biopharmaceuticals have won the bid, respectively, and in the third batch of national drug procurement that just ended on August 20, 7 varieties have also been selected.
Guoan Securities pointed out in a research report in April this year that the sharp price reduction brought about by the collection had an impact on the sales of related products. In 2019, the proportion of revenue of China's biopharmaceuticals in the field of anti-tumor has increased significantly, almost keeping pace with the field of liver disease, and will become the company's largest area in the future.
In the first quarter of 2020, hepatitis, cardiovascular drugs and other injections have been negatively affected by the national collection and the new crown epidemic, "It is expected that the impact of national collection on the company will bottom out this year, and in the future collection, the company is expected to benefit."
Xie Ping: A descendant of thailand's richest family
In addition to Li Yi's appointment, the resignation of 69-year-old Xie Bing is also worthy of attention.
According to the 2019 annual report, Xie Bing, the founding chairman of China Biopharmaceuticals, has nearly 30 years of experience in the investment and management of China's pharmaceutical industry, and has begun to devote himself to the pharmaceutical industry since 1991, successively participating in and holding more than a dozen enterprises, and is one of the earliest overseas investors in China to devote himself to the pharmaceutical field and one of the most accomplished overseas investors.
In a 2009 interview with Capital Medicine, xie Bing's ancestral home was Shantou, Guangdong Province, and he was born on January 3, 1952. In the business field, Xie Bing, behind Thailand's richest man Xie Guomin, mentioned in a 2018 interview report in China Medical News that Xie Bing's uncle is Xie Guomin, under the leadership of the latter, Thai Chia Tai Group has a lot of influence in China's agriculture, animal husbandry and food fields, and "Xie Bing, who has been doing business in China for many years with his uncle Xie Guomin, with his keen insight, sees the development potential of China's pharmaceutical industry." In 1992, stepping on the strong voice of the times of "seizing the opportunity to develop oneself" in Deng Xiaoping's speech on the southern tour, Chia Tai Group formally acquired Sanjiu Pharmaceutical and began to explore in the pharmaceutical field.
Xie Bing's resignation as CHIEF EXECUTIVE officer and his handover to professional manager Li Yi is just a step towards Xie Bing's decentralization, and earlier in 2015, his daughter Xie Qirun became the chairman of the board of directors of China Biopharmaceutical Company, and his son Xie Chengrun became the executive director of China Biopharmaceuticals and the managing director of Chia Tai Pharmaceutical Group.
Editor-in-Charge: Sun Fu