中证报中证网讯（记者 李梦扬）近日，开能健康（300272）公告称，公司全资子公司海南开能细胞拟 以现金2.04亿元收购原能细胞科技集团（简称"原能集团"）体系内原天生物、基元美业、丽水东昕及克 勒猫4家细胞产业公司100%股权。 "本次收购将细胞业务注入开能健康，可以借助上市公司平台推动产业规模化发展，同时打造细胞产业 为公司的第二增长曲线。"开能健康董事长瞿建国在接受中国证券报记者采访时表示，早在2014年，开 能健康便前瞻性地参与创办原能集团，开启了在细胞产业领域的探索之路。完成此次收购后，开能健康 将正式进入干细胞产业，这有利于实现公司大健康行业布局规划，进一步提高公司综合竞争力和可持续 发展能力。 推动"双能驱动"战略落地 开能健康成立于2001年，自设立以来一直致力于全屋净水机、全屋软水机、商用净化饮水机等人居水处 理产品及核心部件的研发、制造、销售与服务。值得关注的是，开能健康始终坚持"双能驱动"发展战 略，在净水产业的基础上，拓宽公司在大健康领域的产业布局，完善公司在健康产业生态圈的投资结 构，支持原能集团的创业发展。 回顾过往，"十年前，大家对细胞产业都还比较陌生，行业也处于萌芽阶段。"瞿建 ...

瞿建国表示，即便历经诸多挑战，原能集团仍坚持技术攻坚，目前已掌握细胞制造自动化核心技术，首 台全自动细胞制造设备已研发完成，单台设备可年产10万-12万包细胞，2000平方米场地可布局多条生 产线，具备规模化量产能力。 近日，开能健康（300272）科技集团股份有限公司（以下简称"开能健康"）公告，拟通过全资子公司海 南开能细胞产业（海南）有限公司，以2.04亿元现金收购原能细胞科技集团有限公司（下称"原能集 团"）旗下4家公司100%股权（以下简称"标的公司"），全面切入干细胞领域，覆盖细胞制备、干细胞 药物研发、动物及宠物经济等细分方向。 此次收购是开能健康"净水+细胞"双主业战略的关键布局，标志着公司从健康设备制造向生命健康前沿 领域的系统性拓展。日前，开能健康董事长、原能集团创始人瞿建国，开能健康副董事长兼总裁瞿亚明 等高管接受《证券日报》记者采访，详解交易背后的战略考量、业务协同逻辑及市场布局规划。 "政策+技术"双轮护航 "2014年我60岁时启动原能集团创业，就是认准了细胞产业是未来万亿元级赛道。"瞿建国向记者回忆， 当时预判健康产业将从"被动治病"向"主动健康"升级，而细胞作为健康核心，其相关 ...

开能健康（300272）正加快推进双主业战略步伐。 近日，公司董事长瞿建国谈及近期收购事项时向证券时报记者表示，此次收购是开能健康"净水+细 胞"双主业战略的关键布局，标志着公司从健康设备制造向生命健康前沿领域的系统性拓展，也是公司 十年布局的落地。 11月24日，开能健康宣布其全资子公司海南开能细胞拟以现金2.04亿元，收购原能集团体系内原天生 物、基元美业、丽水东昕及克勒猫4家细胞产业公司100%股权。交易前，开能健康持有原能集团43.70% 股权；交易完成后，标的公司将正式纳入开能健康合并报表范围。 回溯该交易的本质，背后是上市公司十余年的产业深耕与布局。早在2014年，开能健康参与创办原能集 团，开启在细胞产业领域的探索之路。初期，原能集团为开能健康控股子公司，但后因产业不确定性拆 分不并表(由控股变参股)，彼时瞿建国个人出资购买原能集团10%的股权。 为何选择此时收购？瞿建国告诉证券时报记者，本次收购正是对应国家产业政策的布局，将公司长期的 投资战略纳入上市公司合并范围体系，以实现从战略投资到全面介入产业运营的跨越式发展。 政策层面，2024年8月国务院发文，明确细胞产业纳入医疗技术管理，与药品实施 ...

Core Viewpoint - The acquisition of four companies by Kaineng Health for 204 million yuan aims to establish a comprehensive presence in the stem cell industry, marking a strategic shift towards direct management of stem cell operations [2][3]. Group 1: Acquisition Details - Kaineng Health will acquire 100% equity of Shanghai Yuantian Biotechnology Co., Ltd., Lishui Dongxin Pharmaceutical Co., Ltd., Jiyuan Meiyue Biotechnology (Shanghai) Co., Ltd., and Shanghai Kelemao Biotechnology Co., Ltd. for 204 million yuan [2]. - Kaineng Health currently holds a 43.7% stake in Yuaneng Group, making this transaction an affiliated deal [2]. - The acquisition will allow Kaineng Health to consolidate the financials of the four target companies post-acquisition [2]. Group 2: Strategic Implications - The acquisition is expected to enable Kaineng Health to enter the stem cell sector, covering areas such as cell preparation, stem cell drug development, and the pet economy [2]. - The founder of Kaineng Health, Qu Jianguo, indicated that the company previously made strategic investments in the cell industry, and will now directly manage these operations [2][3]. - The four target companies are interconnected within the cell industry chain, with Yuantian Biotechnology focusing on cell research and preparation, and Lishui Dongxin managing a pharmaceutical park [2]. Group 3: Financial Insights - The estimated book value of the equity of the four target companies is approximately 54.93 million yuan, with an assessed value of 204 million yuan, resulting in a value increase rate of 271.06% [3]. - Kaineng Health's cash balance as of September 30 is approximately 970 million yuan, indicating the transaction will be completed in cash [4]. Group 4: Future Growth Potential - Qu Jianguo highlighted that the cell business is still in its developmental stage, presenting significant growth opportunities [3]. - The upcoming implementation of the Clinical Transformation Application Management Regulations on May 1, 2026, is expected to facilitate clinical research collaborations between hospitals and enterprises, potentially accelerating the commercialization of stem cell applications [3].

Market Overview - The small home appliance sector increased by 0.19% on December 2, with Lek Electric leading the gains [1] - The Shanghai Composite Index closed at 3897.71, down 0.42%, while the Shenzhen Component Index closed at 13056.7, down 0.68% [1] Stock Performance - Lek Electric (603355) closed at 33.52, up 6.75% with a trading volume of 95,800 shares and a turnover of 313 million yuan [1] - Other notable performers included Ousheng Electric (301187) with a 2.13% increase, and Kaineng Health (300272) with a 1.09% increase [1] - The overall performance of the small home appliance stocks showed mixed results, with some stocks experiencing declines [2] Capital Flow - The small home appliance sector saw a net inflow of 66.24 million yuan from institutional investors, while retail investors experienced a net outflow of 68.35 million yuan [2] - The capital flow data indicates that while institutional investors were net buyers, retail investors were net sellers in the sector [3] Individual Stock Capital Flow - Stone Technology (688169) had a net inflow of 32.78 million yuan from institutional investors, but a net outflow of 20.05 million yuan from retail investors [3] - Lek Electric (603355) also saw a net inflow of 22.14 million yuan from institutional investors, with retail investors withdrawing 16.42 million yuan [3] - Ousheng Electric (301187) had a significant net inflow of 13.99 million yuan from institutional investors, but a notable net outflow of 16.25 million yuan from retail investors [3]

Market Overview - The small home appliance sector experienced a slight decline of 0.07% on November 28, with Ousheng Electric leading the drop [1] - The Shanghai Composite Index closed at 3888.6, up 0.34%, while the Shenzhen Component Index closed at 12984.08, up 0.85% [1] Stock Performance - Notable gainers in the small home appliance sector included: - Dechang Co., Ltd. (605555) with a closing price of 17.80, up 3.73% and a trading volume of 95,900 shares, totaling 169 million yuan [1] - Lek Electric (603355) closed at 31.27, up 1.92% with a trading volume of 67,700 shares, totaling 208 million yuan [1] - Conversely, Ousheng Electric (301187) saw a decline of 2.21%, closing at 24.33 with a trading volume of 28,700 shares, totaling 70 million yuan [2] Capital Flow - The small home appliance sector saw a net outflow of 32.12 million yuan from institutional investors, while retail investors contributed a net inflow of 42.27 million yuan [2] - The capital flow for key stocks showed: - Lek Electric had a net inflow of 16.51 million yuan from institutional investors, but a net outflow of 19.54 million yuan from retail investors [3] - Dechang Co., Ltd. experienced a net inflow of 7.60 million yuan from institutional investors, with a net outflow of 14.95 million yuan from retail investors [3]

Core Viewpoint - Kaineng Health (300272.SZ) is increasing its investment in the cell industry by acquiring assets from its affiliated companies, aiming to establish a second growth curve in the health sector while leveraging its existing water purification business [1][5]. Acquisition Details - Kaineng Health's wholly-owned subsidiary, Hainan Kaineng Cell, plans to acquire 100% equity of four companies under the Yuaneng Group for a cash consideration of 204 million yuan [2][3]. - The target companies include Yuan Tian Biological, Lishui Dongxin, Kele Cat, and Jiyuan Meiyu, all of which are under the same control as Yuaneng Group, ensuring a consistent control relationship post-acquisition [2][3]. Financial Performance - For the first three quarters of 2025, Kaineng Health reported a revenue of 1.356 billion yuan, an increase of 8.1% year-on-year, and a net profit attributable to shareholders of 95.3532 million yuan, up 13.29% [1][5]. - The acquisition is expected to enhance Kaineng Health's investment in the cell industry, which is projected to contribute to the company's growth in the health sector [5][6]. Business Strategy - The company aims to strengthen its cell industry investment and create a diversified product and technology portfolio in the health management sector [5][6]. - Kaineng Health has established a dedicated cell industry company in Hainan to support the acquired businesses and plans to increase funding and resources for their development [5][6]. Performance of Target Companies - The target companies have not yet achieved profitability, with projected revenues of 36.6269 million yuan and 28.1566 million yuan for 2024 and the first nine months of 2025, respectively, alongside net losses of 21.2025 million yuan and 21.8584 million yuan [6]. - Yuaneng Group has committed to covering any losses exceeding the previous year's impact on Kaineng Health's financial statements if the target companies remain unprofitable by 2027 [6].

Core Viewpoint - The company, Kaineng Health, is increasing its investment in the cell industry by acquiring assets from its affiliated companies for 204 million yuan, aiming to establish a second growth curve in the health sector [2][6]. Group 1: Acquisition Details - Kaineng Health's wholly-owned subsidiary, Hainan Kaineng Cell, plans to acquire 100% equity of four companies under the Yuaneng Group, including Yuan Tian Biological and Lishui Dongxin, for a total of 204 million yuan [3][5]. - The acquisition involves companies that are all under the same control of Yuaneng Group, ensuring that the control relationship remains unchanged post-acquisition [3]. - The acquisition is classified as a related party transaction due to Kaineng Health's significant shareholding (43.70%) in Yuaneng Group and shared leadership [3][4]. Group 2: Financial Performance - For the first three quarters of 2025, Kaineng Health reported a revenue of 1.356 billion yuan, an increase of 8.1% year-on-year, and a net profit attributable to shareholders of 95.35 million yuan, up 13.29% [2][6]. - The target companies have reported losses, with revenues of 36.63 million yuan and 28.16 million yuan for 2024 and the first nine months of 2025, respectively, and net losses of 21.20 million yuan and 21.86 million yuan [7][8]. Group 3: Strategic Intent - The acquisition is part of Kaineng Health's strategy to strengthen its position in the health industry, leveraging its existing water purification business to enhance its cell industry investments [6][8]. - The company aims to support the acquired entities with resources and funding to foster growth and innovation in health-related products and technologies [6][8].

Core Viewpoint - Kaineng Health plans to acquire 100% equity of four target companies for approximately 204 million yuan, aiming to deepen its presence in the health industry and establish a second growth curve in the cell industry [1][2]. Group 1: Acquisition Details - The acquisition involves Kaineng Health's wholly-owned subsidiary, Kaineng Health Cell Industry (Hainan) Co., Ltd., purchasing equity from Yuaneng Cell Technology Group Co., Ltd. and Yuaneng Cell (Lishui) Industrial Development Co., Ltd. [1] - The target companies include Shanghai Yuan Tian Biotechnology Co., Ltd., Lishui Dongxin Pharmaceutical Co., Ltd., Shanghai Kelemao Biotechnology Co., Ltd., and Jiyuan Meiyu Biotechnology (Shanghai) Co., Ltd. [1][2]. Group 2: Business Focus of Target Companies - The target companies cover various sectors such as cell preparation, laboratory animal services, and cell technology cosmetics [2]. - Shanghai Yuan Tian focuses on stem cell and immune cell preparation technologies, holding 44 authorized patents [2]. - Lishui Dongxin serves as an investment holding platform without substantial operations, while its subsidiary provides laboratory animal breeding and experimental support [2]. - Jiyuan Meiyu specializes in skin cell repair and regeneration technology, and Kelemao has not yet commenced operations [2]. Group 3: Strategic Implications - The acquisition is intended to enhance Kaineng Health's strategic layout in the health industry and improve its overall competitiveness and sustainable development capabilities [2]. - Entering the stem cell industry aligns with the company's long-term strategic development plan [2].

Core Viewpoint - The company, Kenen Health, is a global provider of comprehensive solutions, products, and services for residential water treatment, emphasizing its pioneering role in the "whole-house water purification" concept since 2001 [1] Group 1: Company Overview - Kenen Health was established with a focus on developing, manufacturing, selling, and servicing various water treatment products and core components [1] - The company offers a range of products including whole-house water purifiers, whole-house water softeners, commercial drinking water purifiers, RO membrane reverse osmosis water purifiers, multi-way control valves, composite pressure vessels, and membrane elements [1]