Borui Pharmaceuticals' actual controller proposes the "Post-97" daughter as a board candidate! The company's net profit is expected to decline by over 70% by 2025. Can the candidate's dual background in medicine and investment bring a turning point?

What is the relationship between AI · Honghui Fund’s investment history and director nominations?

Daily Economic News Reporter: Xu Shuai    Editor: Du Yu

On the evening of April 1st, Bo Rui Medicine (688166.SH, stock price 50.94 yuan, market value 21.55B yuan) announced that the actual controller Yuan Jiandong nominated his daughter Stephanie Yuan (Yuan Fennie) as a candidate for the company’s director. Yuan Jiandong is 56 years old, and Yuan Fennie was born in 1997, indicating an intention for generational succession. Yuan Fennie graduated from Harvard Medical School with a degree in Immunology and is currently a founding partner of Honghui Fund. Notably, Honghui Fund participated in Bo Rui Medicine’s Pre-IPO financing round in 2019.

According to the announcement, the nomination still needs to be submitted for shareholder approval. Bo Rui Medicine’s 2025 annual report shows that the company achieved operating revenue of 1.22B yuan in 2025, a decrease of 4.59% year-on-year; net profit attributable to the parent was 54.5147 million yuan, down 71.18% year-on-year.

Image source: Screenshot from Bo Rui Medicine’s official website

“Post-97” Young Director Coming?

On the evening of April 1st, Bo Rui Medicine announced that the company has nominated a young director born after 1997. This candidate is none other than Yuan Fennie, the daughter of the company’s actual controller Yuan Jiandong, who is 56 years old this year.

According to the announcement, Ms. Yuan Fennie was born in November 1997, holds U.S. citizenship, graduated from Harvard Medical School with a Master’s degree in Immunology, and completed her undergraduate studies in Biochemistry and Cell Biology at the University of California, San Diego. Ms. Yuan has conducted tumor immunology and cancer-related research at Dana-Farber Cancer Institute, The Rockefeller University, and other institutions. She previously worked in the asset management department of Guosen Securities, focusing on research and investment analysis in the biopharmaceutical industry. She is currently a founding partner at Honghui Fund, mainly engaged in investment and research in the biopharmaceutical field.

Image source: Bo Rui Medicine announcement

As one of the world’s top universities, the two institutions where Yuan Fennie studied enjoy a high international reputation in life sciences and medicine. Harvard Medical School, founded in 1782, is one of the oldest and most prestigious medical schools in the United States. It has long been a global leader in medical research, clinical practice, and basic sciences, with immunology being one of its core strengths, actively exploring cutting-edge developments in tumor immunology, infectious disease prevention, and autoimmune diseases.

The University of California, San Diego (UCSD), where she completed her undergraduate studies, is a top public research university located in California. Its biological sciences, especially biochemistry and cell biology, are also highly regarded worldwide. The La Jolla area where the university is located is not only a top research hub but also a globally renowned cluster for biotechnology and pharmaceutical industries.

In addition to her impressive academic background, this “post-97” individual has conducted tumor immunology and cancer research at top institutions such as Dana-Farber Cancer Institute and The Rockefeller University. Dana-Farber, established in 1947, specializes in cancer research and breakthrough therapies; Rockefeller University is a globally renowned biomedical research institution known for fundamental scientific research.

Current Fund Has Invested in Bo Rui Medicine

According to the announcement, Yuan Fennie is currently a founding partner at Honghui Fund, mainly engaged in investment and research in the biopharmaceutical sector.

Honghui Fund is a well-known investment institution in China’s healthcare and related industries. The fund manages a large asset scale and has successfully invested in many leading listed companies in China’s pharmaceutical and medical device sectors, such as Mindray Medical, a leader in medical devices, and Kanglong Huchen, a major CRO (Contract Research Organization) in China.

According to Honghui Fund’s official website, the company has also invested in Bo Rui Medicine.

In January 2019, before Bo Rui Medicine’s listing on the STAR Market, Honghui Fund co-led a Pre-IPO financing round for Bo Rui Medicine amounting to 550 million yuan, alongside well-known investors like Sequoia China. At that time, Honghui Fund’s investment rationale was based on Bo Rui Medicine’s R&D strength in generic drugs, specialty raw materials, complex formulations, and innovative drugs.

According to Bo Rui Medicine’s prospectus, Ningbo Free Trade Zone Hongpeng Equity Investment Partnership (Limited Partnership) holds a 3.55% stake, and Ningbo Honghui Equity Investment Partnership (Limited Partnership) has a 78.51% contribution share. The general partner behind Ningbo Honghui is Wang Hui, who participated in founding Jiangsu Honghui Equity Investment Management Co., Ltd.

Previously, Bo Rui Medicine also disclosed its annual report for last year, which shows that the company’s 2025 revenue target is 1.22B yuan, a decrease of 4.59%; net profit attributable to the parent is 54.5147 million yuan, down 71.18%.

The main reason for the sharp decline in net profit in 2025 is due to changes in flu trends (such as decreased demand for Oseltamivir), the completion and capitalization of ongoing projects leading to increased depreciation costs, among other factors.

However, whether Stephanie Yuan can successfully be elected as a director of Bo Rui Medicine still requires a vote at the shareholders’ meeting.

Daily Economic News