Former Hunan's richest man Shuai Fangwen family once again announces a share reduction plan, with stock price dropping by up to 90%

Erkang Pharmaceutical recently released the controlling shareholder’s (actual controller’s) share reduction plan. This is the actual controller’s second time, within the past half year, to roll out a reduction plan, and the shares pledged by the actual controller account for as much as 97.94% of their holdings. A reporter from The Daily Economic News found that behind Erkang Pharmaceutical’s actual controller’s announcement of a share reduction plan is the company’s net profit that has remained loss-making for the past three years, along with the continuous contraction of revenue from its traditional pharmaceutical business over five straight years. However, because the company’s new energy business has scaled up, its revenue in 2025 reversed the trend of ongoing year-after-year declines.

In the “2014 Hurun Rich List,” Erkang Pharmaceutical’s chairman, Shuai Fangwen, and his family ranked as the top rich person in Hunan with wealth of 9.5 billion yuan, placing them at number 177 on the overall rich list. As Erkang Pharmaceutical’s performance has been poor, the wealth of Shuai Fangwen, the actual controller, has also fallen significantly. According to data from the Hurun Rich List, from 2015 to 2021, the wealth of the Shuai Fangwen couple was 21 billion yuan, 14.5 billion yuan, 13.5 billion yuan, 5.7 billion yuan, 6.7 billion yuan, 6.5 billion yuan, and 5.5 billion yuan in sequence, showing an overall downward trend.

Judging by the stock price trend, as of April 2, Erkang Pharmaceutical’s shares closed at 4.02 yuan per share, with a total market value of about 8.29B yuan. Since the company’s historical peak in 2015, its stock price has suffered a maximum decline of 90%.

For the full text, see: The former Hunan top-rich family of Shuai Fangwen issues another share reduction plan; the stock price has fallen by as much as 90%!

The Daily Economic News