根据本公司的章程细则，董事会可填补本公司核数师职位的任何临时空缺。继罗兵咸永道辞任后，董事 会经审核委员会建议，已决议委任国卫会计师事务所有限公司(国卫)为本公司新任核数师，以填补临时 空缺，自2026年2月14日起生效(该委任)。 瑞尔集团(06639)发布公告，罗兵咸永道会计师事务所(罗兵咸永道)已辞任本公司核数师，自2026年2月 13日起生效。 ...

根据本公司的章程细则，董事会可填补本公司核数师职位的任何临时空缺。继罗兵咸永道辞任后，董事 会经审核委员会建议，已决议委任国卫会计师事务所有限公司(国卫)为本公司新任核数师，以填补临时 空缺，自2026年2月14日起生效(该委任)。 智通财经APP讯，瑞尔集团(06639)发布公告，罗兵咸永道会计师事务所(罗兵咸永道)已辞任本公司核数 师，自2026年2月13日起生效。 ...

格隆汇2月15日丨瑞尔集团(06639.HK)公布，罗兵咸永道已辞任公司核数师，自2026年2月13日起生效。 根据公司的章程细则，董事会可填补公司核数师职位的任何临时空缺。 继罗兵咸永道辞任后，董事会经审核委员会建议，已决议委任国卫会计师事务所有限公司("国卫")为公 司新任核数师，以填补临时空缺，自2026年2月14日起生效。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 R Arrail Group Limited 瑞爾集團有限公司 （於英屬維爾京群島註冊成立並於開曼群島存續的有限公司） （股份代號：6639） 變更核數師 鑒於羅兵咸永道表示，由於其尚未獲提供所要求的所有相關資料，其無法就完成 2025年中期審閱承諾本公司所要求的時間表，董事會認為，更換核數師將符合本 公司及其股東的整體最佳利益，以促進及時完成2025年中期審閱。 羅兵咸永道於其辭任函中表示，直至辭任函日期，羅兵咸永道尚未獲提供所要求 的相關資料。羅兵咸永道亦在其辭任函中表示，董事會的決定明確表明，羅兵咸 永道將無法取得必要資料，以使其能夠完成2025年中期審閱，或履行其根據在 2025年9月26日舉行的本公司上屆股東週年大會上獲委任為本公司核數師而須審 核本集團截至2026年3月31日止年度合併財務報表的後續責任。經審慎考慮上述 情況後，羅兵咸永道已同意辭任本公司核數師，並終止2025年中期審閱，自2 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | | | I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06639 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 1,250,000,000 | USD | | 0.02 USD | | 25,000,000 | | 增加 / 減少 (-) | | | 0 | | | USD | | 0 | | 本月底結存 | | | 1,250,000,000 | USD | | 0.02 USD | | 25,000,000 | 本月底法定/註冊股本總額： USD 25,000,000 致：香港交易及結算所有限公司 公司名稱: 瑞爾集團有限公司 呈交日期: 2026年2月5日 FF301 第 1 頁 共 10 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 R Arrail Group Limited 瑞爾集團有限公司 （於英屬維爾京群島註冊成立並於開曼群島存續的有限公司） （股份代號：6639） (1)有關延遲刊發中期業績及延遲寄發2025年中期報告之補充公告；及 (2)繼續暫停買賣 本公告乃由瑞爾集團有限公司（「本公司」，連同其子公司及可變利益實體，統稱 「本集團」）董事（「董事」）會（「董事會」）作出，茲提述本公司日期為2025年11月28 日的內幕消息公告（「該公告」），內容有關（其中包括）延遲刊發本集團截至2025年 9月30日止六個月的中期簡明合併財務資料（「2025年中期業績」）、延遲寄發本集 團截至2025年9月30日止六個月的中期報告（「2025年中期報告」）以及暫停本公司 股份買賣。除文義另有所指外，本公告所用詞彙與該公告所界定者具有相同涵義。 延遲刊發2025年中期業績及延遲寄發2025年中期報告 誠如該公告所披露，董事會及審計委員會 ...

致：香港交易及結算所有限公司 公司名稱: 瑞爾集團有限公司 呈交日期: 2026年1月5日 I. 法定/註冊股本變動 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年12月31日 狀態: 新提交 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06639 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,250,000,000 | USD | | 0.02 | USD | | 25,000,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | 0 | | 本月底結存 | | | 1,250,000,000 | USD | | 0.02 | USD | | 25,000,000 | 本月底法定/註 ...

Core Insights - The article highlights the transformation of the dental healthcare industry in China, emphasizing the shift from rapid expansion to value-driven operations, with 瑞尔齿科 (Rui'er Dental) exemplifying this change through its long-term patient relationships and commitment to quality care [1][7]. Group 1: Company Development - 瑞尔齿科 has evolved from its first clinic in 1999 to a nationwide network of 118 clinics and hospitals across 15 cities, reflecting the industry's transition from extensive growth to refined operations [1]. - The company has achieved a patient revisit rate of approximately 47.4%, with nearly 20% of new patients coming from referrals by existing patients, indicating strong trust and satisfaction [2][3]. Group 2: Quality and Trust - The foundation of 瑞尔齿科's value system is its unwavering commitment to medical quality, utilizing a multidisciplinary treatment model and a tiered quality control system to establish a professional moat beyond mere scale [2]. - The introduction of the "5A customer experience process" emphasizes a comprehensive approach to patient care, focusing on sustainable relationships rather than one-time transactions [3]. Group 3: Digital Transformation - 瑞尔齿科 is integrating artificial intelligence into its core operations, developing an AI quality control system that performs comprehensive checks on electronic medical records, enhancing both efficiency and quality [4]. - The company is also exploring innovative AI applications, such as an "AI operations director" and "AI family health manager," to support management decisions and improve patient interactions [4]. Group 4: Industry Influence - 瑞尔齿科's impact extends beyond its own growth, as it organizes numerous academic and management training sessions, reaching tens of thousands of healthcare professionals, thereby creating a systematic knowledge output framework [5]. - The company hosts high-level academic forums and diverse training programs, converting its extensive experience into replicable industry knowledge, promoting standardization in dental healthcare services [6]. Group 5: Long-term Strategy - 瑞尔齿科 prioritizes depth of service and patient satisfaction over rapid expansion, focusing on building brand reputation through quality care rather than marketing expenditures [6]. - The company's long-term approach has been validated financially, with high revisit rates reducing customer acquisition costs and enhancing operational efficiency, creating a virtuous cycle of commercial and social value [6][7].

Core Viewpoint - The announcement of a mid-term performance delay and trading suspension by Rier Group has revealed a long-standing "circular borrowing" transaction involving a $11 million loan to a company wholly owned by the founder, which raises concerns about potential financial misconduct [1][10]. Group 1: Loan and Financial Transactions - Rier Group provided a $11 million loan to Beier Holdings Limited, a company controlled by founder Zou Qifang, with the loan's repayment timeline and amounts closely matching several suspicious payments made by Rier Group [1][4]. - The loan was initially set for 9 months at a 4.5% interest rate, but it has been extended multiple times, with the latest extension pushing the maturity to 30 months and increasing the interest rate to 5.5% [4][6]. - As of June 27, 2025, Beier Holdings Limited had repaid a total of $3.5 million, with further repayments scheduled but not fulfilled, leading to additional extensions [3][6]. Group 2: Impact on Stock and Market Position - Rier Group's stock price has significantly declined from a peak of HKD 16.020 in March 2023 to HKD 1.830 before the trading suspension, reflecting a total market capitalization of HKD 1.029 billion [5][6]. - The collateral for the loan has also diminished in value due to the stock price drop, raising concerns about the adequacy of the guarantees provided by Zou Qifang [5][10]. Group 3: Audit and Investigation - The auditing firm PwC has raised questions about the timing and nature of certain payments made by Rier Group, suggesting the need for an independent investigation to clarify the situation [4][11]. - Rier Group has acknowledged the need for further investigation and has suspended trading until the mid-term performance report is published [3][11]. Group 4: Historical Context and Corporate Governance - The borrowing arrangement dates back to 2017 during a critical financing round, where Zou Qifang used funds from Rier Group to acquire shares, creating a cycle of borrowing and pledging shares [9][10]. - The company has faced significant operational challenges, with a net loss of CNY 1.52 billion from 2021 to 2023, and only recently achieved profitability in the 2024 fiscal year [12][11].

Core Viewpoint - The suspension of Ruil Group's stock due to an audit investigation into a $11 million loan linked to its founder has raised significant concerns in the market regarding the company's financial practices and transparency [1][4][5]. Company Summary - Ruil Group's stock was suspended following a letter from PwC Hong Kong, which highlighted suspicious payments related to a loan to Beier Holdings Limited, owned by the company's founder [1][4]. - The loan, initially for $11 million with a 4.5% interest rate, was extended twice, with the interest rate increasing to 5.5%, and the repayment deadline pushed to March 2026 [4]. - As of July 2025, Beier Holdings had repaid $4.01 million in principal and $1.58 million in interest, leaving a remaining balance of $6.99 million [4]. - The audit raised concerns about potential circular transactions that could indicate the company's inability to repay the loan, leading to a delay in the release of mid-term results and the stock suspension [4][5]. - The founder's pledged shares to secure the loan have increased from 14.83 million to 41.34 million, representing 7.38% of the company's total shares, with a market value significantly lower than the loan amount [5]. - Ruil Group's market capitalization has plummeted by 87% since its IPO, with a current valuation of approximately $1.03 billion compared to a peak of nearly $7 billion [5][6]. Industry Summary - The challenges faced by Ruil Group reflect broader issues within the private dental industry, particularly following the implementation of centralized procurement for dental implants, which has drastically reduced prices [8]. - The average winning bid for dental implants has dropped over 80%, forcing companies like Ruil Group to lower prices and impacting profitability [8]. - The industry is undergoing a consolidation phase, with over 2,000 private dental institutions shutting down in 2023, and more than 1,000 in the first half of 2024, driven by price pressures and stricter regulations [8][9]. - Trust and compliance are becoming critical competitive factors in the private dental sector, as the market demands greater transparency and accountability from institutions [9].