Core Viewpoint - Shanghai Ruian Gene Technology Co., Ltd. announced the receipt of government subsidies totaling 2 million yuan, which are related to revenue [1] Group 1 - The company received a government subsidy of 2 million yuan [1]

Core Viewpoint - The company, Ruiang Gene, announced on February 10 that it has received government subsidy funds amounting to 2 million yuan [1] Group 1: Government Subsidy - The government subsidy received by the company is classified as a revenue-related government grant according to the relevant provisions of the Accounting Standards for Enterprises No. 16 [1] - The subsidy amount is 2 million yuan, which is equivalent to approximately 0.29 million USD based on current exchange rates [1] - The accounting treatment and impact on the company's profit and loss will be finalized based on the results of the annual audit by the auditing agency [1]

Core Insights - The news highlights significant corporate announcements and performance reports from various companies, indicating potential investment opportunities and market movements. Group 1: Corporate Announcements - Ge Weidong invested 1 billion yuan to subscribe for shares in Jianghuai Automobile's private placement, acquiring approximately 20.05 million shares at a price of 49.88 yuan per share, contributing to a total fundraising of about 3.5 billion yuan from eight investors [3][4] - *ST Cube completed its suspension review and will resume trading on February 11, 2026, after confirming no undisclosed significant matters related to the company [2] - Yunnan Baiyao plans to invest 137 million yuan in a second phase project for oral liquid production to meet growing market demand [11] Group 2: Performance Reports - Semiconductor manufacturer SMIC reported a 23.2% year-on-year increase in net profit for Q4 2025, reaching 1.223 billion yuan, driven by increased wafer sales and improved capacity utilization [5] - Special Biological Company reported a net profit of 1.038 billion yuan for 2025, reflecting a 25.39% increase year-on-year, attributed to stable sales of key products and new product approvals [6] - New Zobang achieved a net profit of 1.098 billion yuan in 2025, marking a 16.56% increase compared to the previous year [6] Group 3: Fundraising and Restructuring - New Han New Materials plans to raise up to 1 billion yuan through a private placement to fund projects related to high-performance resins and composite materials [8] - Chutian Long intends to raise up to 760 million yuan for the development of innovative safety products and digital operations [8] - Yi Yi Co. decided to terminate its plan to acquire 100% equity of a pet food company due to changes in the target company's operational conditions [8] Group 4: Major Contracts and Investments - Yunjiji Group signed an EPC contract worth 1.331 billion yuan for a cement production line and power station in Zimbabwe, representing 86.66% of the company's audited revenue for 2024 [9] - Solar Energy's subsidiary plans to acquire 100% of Jinhua Windling for 527 million yuan, enhancing its position in the solar power industry [9] - Yutong Technology intends to acquire 51% of Huayan Technology for 448.8 million yuan, which will become a subsidiary post-transaction [9]

Group 1 - The company, Ruiang Gene, recently announced that it has received government subsidy funds totaling RMB 2 million, which are related to its revenue [1]

Group 1 - Baichuan Co., Ltd. announced a recent price increase for some of its main products due to market supply and demand factors, but the sustainability of this price fluctuation remains uncertain, making it difficult to predict the impact on the company's performance [1] - Jincheng Co., Ltd. plans to increase its acquisition of CMH Company by an additional 42.50% stake, which will give it a total ownership of 97.5% and ultimate control over CMH [2] - Xinhang New Materials intends to raise no more than 1 billion yuan through a private placement of A-shares, with the funds allocated for projects including high-performance resin production and a composite materials innovation center [3] Group 2 - SMIC reported a sales revenue of $2.489 billion for Q4 2025, a 4.5% increase quarter-on-quarter, with an annual revenue of $9.327 billion, reflecting a 16.2% year-on-year growth [4] - China Railway Construction recently won 10 major projects, each valued over 1.5 billion yuan, totaling 45.142 billion yuan, which represents 4.23% of the company's audited revenue for 2024 [5] - Shenzhen Airport recorded a passenger throughput of 5.8795 million in January 2026, a year-on-year increase of 2.84% [6] Group 3 - China State Construction reported a new contract total of 399.5 billion yuan in January 2026, marking a 1.8% year-on-year increase [7] - Jindi Group's sales amount in January 2026 decreased by 45.78% year-on-year, with a signed area of 78,000 square meters [8] - Changyuan Power achieved a power generation of 3.971 billion kWh in January 2026, a year-on-year increase of 37.81% [9] Group 4 - Senyuan Electric is expected to win a project from the Southern Power Grid valued at 272 million yuan [10] - Chengyi Pharmaceutical's products are set to be selected for the national centralized procurement of expiring varieties [12] - Xinwufeng reported a 10.71% year-on-year decrease in pig sales volume in January 2026 [13] Group 5 - Shengnong Development's sales revenue in January 2026 increased by 40.48% year-on-year, with chicken sales volume rising by 42.79% [14] - Minglida announced the termination of its investment in a key component manufacturing project due to global economic uncertainties [15] - CITIC Securities reported that its subsidiary, Huaxia Fund, achieved a net profit of 2.396 billion yuan in 2025 [16] Group 6 - Pianzaihuang completed the first subject enrollment for its Phase II clinical trial of PZH2107 [17] - Xinzhou Bang reported a 16.56% year-on-year increase in net profit for 2025 [18] - Ankai Bus produced 761 vehicles in January 2026, a year-on-year increase of 35.65% [19] Group 7 - Weilan Bio plans to acquire a 50% stake in Aidimeng Weilan for 47 million yuan [20] - Ningbo Gaofa intends to establish a wholly-owned subsidiary with an investment of no more than 100 million yuan [21] - Shanghai Airport signed a leasing contract worth approximately 585 million yuan with the Shanghai Airport Group [22] Group 8 - Fosun Pharma's subsidiary received acceptance for a drug registration application [23] - Jindai Home's subsidiary invested in acquiring shares in a North American market company [24] - Huatong Co. reported a 1.45% year-on-year decrease in pig sales revenue in January 2026 [25] Group 9 - Yunnan Energy Investment's Nanchong Wind Power Project has been approved with a total installed capacity of 62,500 kW [28] - Youyan Silicon reported a 10.14% year-on-year decrease in net profit for 2025 [29] - Jinpu Titanium announced a temporary shutdown of its Nanjing Titanium White production due to reduced demand [30] Group 10 - Yipin Hong completed the sale of its stake in Arthrosi for a total of $9.5 billion in upfront payments [31] - Liande Co. stated that its gas turbine business currently has limited supply, with minimal impact on overall performance [32] - Tiens Wind Power signed new contracts worth 870 million yuan in the offshore engineering sector [33] Group 11 - Daqin Railway reported a freight volume of 31.28 million tons in January 2026, a year-on-year increase of 5% [34] - ST Mingcheng successfully dismissed all claims from Beijing Fusheng in a recent court ruling [35] - Zhiyang Innovation is planning to acquire control of Lingming Photon and will continue its stock suspension for up to five trading days [36][37] Group 12 - Fulai New Materials accelerated the commercialization of flexible sensors, preparing for mass production of its third-generation electronic skin products [38] - Minhe Co. reported a 36.89% year-on-year decrease in sales of broiler chicks in January 2026 [39] - Ruiang Gene received government subsidies totaling 2 million yuan [40] Group 13 - Huiyu Pharmaceutical's shareholder was forced to reduce holdings by 0.307% due to a court order [41] - Fuyuan Pharmaceutical's subsidiary obtained a drug registration certificate for a new oral solution [42] - Xuantai Pharmaceutical's product is set to be selected for national procurement [43] Group 14 - Chunqiu Electronics completed the cancellation of 9.1369 million repurchased shares [44] - Jinguang Electric won a bid worth approximately 28.8691 million yuan [45] - Hongda Co. plans to invest approximately 71.43 million yuan in a 110kV power transmission project [46] Group 15 - Nanchao Foods reported a 1.99% year-on-year decrease in revenue for January 2026 [47] - Shisheng Intelligent plans to repurchase shares worth between 17.5 million and 35 million yuan [48]

上海睿昂基因科技股份有限公司(以下简称"公司")于近期收到政府补助资 金共计人民币 200.00 万元，为与收益相关的政府补助。 二、补助的类型及其对上市公司的影响 根据《企业会计准则第 16 号—政府补助》的相关规定，公司上述获得的政 府补助属于与收益相关的政府补助。上述政府补助未经审计，具体的会计处理 以及对公司损益的影响最终以审计机构年度审计确认后的结果为准。敬请投资 者注意投资风险。 关于获得政府补助的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、获取补助的基本情况 证券代码：688217 证券简称：睿昂基因 公告编号：2026-003 上海睿昂基因科技股份有限公司 特此公告。 上海睿昂基因科技股份有限公司董事会 2026 年 2 月 11 日 ...

Investment Rating - The report maintains an "Overweight" rating for the in vitro diagnostics (IVD) industry [7]. Core Views - The recent policy from the National Healthcare Security Administration aims to transform the role of healthcare insurance from a payer to an innovator, significantly impacting the IVD industry by promoting solutions that integrate "testing + AI + services" [5][51]. - The domestic IVD industry is currently in a bottoming phase, with a strong focus on the growth potential of immunodiagnostics, particularly in chemiluminescence and molecular diagnostics such as PCR [5][51]. - The report highlights that the biochemical diagnostics sector in China has largely completed its localization process, reducing reliance on foreign technologies [5]. Summary by Sections Industry Performance - The pharmaceutical and biological sector rose by 0.14%, ranking 15th among 31 primary industries, while the IVD sector fell by 1.28% [2][10]. - The IVD sector's current PE (ttm) is 39.37X, with a PB (lf) of 1.80X, showing a slight decrease from the previous week [4][31]. Company Performance - Notable performers in the medical services sector include SAIKOSHI (+14.5%), Ruiang Gene (+3.1%), and Rendu Bio (+2.6%), while underperformers include Cap Bio (-6.8%) and Hotgen Bio (-6.4%) [3][26]. - The report suggests focusing on companies like YHLO Biotech and Shengxiang Bio in the immunodiagnostics and molecular diagnostics fields due to their growth potential [5][51]. Market Trends - The report indicates that the IVD industry is experiencing a shift towards integrating new technologies and payment methods, driven by recent policy changes [5][51]. - The overall IVD market is expected to continue its steady growth, with significant opportunities arising from the integration of AI and innovative products [5][51].

Core Viewpoint - Ruiang Gene is facing a significant crisis due to the legal troubles of its controlling shareholders, which has led to a drastic decline in revenue and a loss of investor trust [1][2][3]. Governance Crisis - The turmoil began with a healthcare fraud investigation related to the lung cancer drug "Taris" in July 2021, where a subsidiary was implicated in altering genetic test results for insurance fraud [1][2]. - Despite the legal issues, the governance structure remains largely unchanged, with family control persisting, raising concerns about the effectiveness of internal controls [2][8]. Performance Collapse - The company anticipates a revenue drop of 27.36% to 29.84% in 2025, with a projected net loss nearing 60 million yuan [1]. - In the first half of 2025, revenue fell by 22.29%, and net profit decreased by 61.46%, with significant declines in both molecular diagnostic reagent sales and testing services [3][9]. - The financial strain has led to increased accounts receivable impairment and asset write-downs, further eroding profitability [3][9]. Future Challenges - The outcome of the legal proceedings against the controlling shareholders could impact the stability of control within the company [4][11]. - Rebuilding trust will be a lengthy process, and the company faces fundamental challenges such as customer attrition and financial strain [4][11]. - The case of Ruiang Gene serves as a warning for the entire precision medicine industry, emphasizing the importance of integrity and trust in maintaining public confidence [5][11].

Core Viewpoint - Ruiang Gene announced that its actual controllers, Xiong Hui and Xiong Jun, have been sued by the prosecution for suspected fraud, but this will not significantly impact the company's daily operations [1] Group 1: Company Management - Xiong Hui and Xiong Jun are currently not serving as directors or senior management personnel in the company [1] - The company has a sound corporate governance structure and internal control system in place [1] - Daily operations are managed by the executive team, and current directors and senior management are performing their duties normally [1] Group 2: Business Operations - The company's business is operating normally, and its management activities are proceeding as usual [1]

Core Viewpoint - Ruian Gene (688217.SH) faces dual setbacks as its actual controllers are sued for fraud, and the company forecasts a significant revenue drop for 2025, indicating a severe decline in financial performance and trust [2][10]. Group 1: Company Background - Ruian Gene was founded by actual controllers Xiong Hui and Xiong Jun, who have impressive academic backgrounds and initially developed a clinical HBV drug resistance testing kit, filling a technological gap in the market [5]. - The company went public on the STAR Market in May 2021, becoming a star in precision medicine due to its technological advantages in leukemia detection, with the controlling family holding over 30% of the shares [5][6]. Group 2: Fraud Allegations and Investigation - The fraud investigation began in July 2021 when the Shenzhen Medical Insurance Bureau received reports of employees from AstraZeneca allegedly altering cancer patient gene test results to fraudulently obtain insurance reimbursements [6][9]. - Ruian Gene was implicated as a key player in the fraud chain, with its subsidiary Wuhan Sitai being mentioned in court proceedings regarding the manipulation of test results [9][10]. Group 3: Financial Performance and Forecast - The company forecasts a revenue of only 170 million to 176 million yuan for 2025, representing a year-on-year decline of 27.36% to 29.84%, with net losses expected to widen to between 39.91 million and 59.86 million yuan [2][12]. - The core business of molecular diagnostic reagent sales has been severely impacted, with a nearly 20% decline in revenue in the first half of 2025, and the testing service business experiencing a 30.2% drop in revenue [13][15]. Group 4: Governance and Management Response - Following the legal troubles of the actual controllers, the company's governance structure has not changed significantly, with Xiong Hui resigning from her positions in September 2025 but her husband quickly taking over [10][18]. - Despite ongoing financial losses and the legal issues, the company approved a cash dividend of 1.7 yuan per 10 shares, reflecting a disconnect between management decisions and financial realities [17][18]. Group 5: Industry Implications - The situation at Ruian Gene serves as a cautionary tale for the precision medicine industry, emphasizing the importance of trust and integrity in maintaining market position and customer relationships [20].