Core Insights - The medical testing industry is facing significant challenges due to increased accounts receivable and declining profits, particularly following the COVID-19 pandemic [1][4][5] Group 1: Accounts Receivable and Financial Performance - Four companies have accounts receivable exceeding 2 billion yuan, with Capbio (凯普生物) involved in lawsuits to recover 357 million yuan in overdue payments [1] - In the first three quarters of this year, at least seven medical testing companies reported net losses attributable to shareholders, with six of them expected to continue this trend into 2024 [1] - Specific losses reported include: Puni Testing (谱尼测试) at 199 million yuan, RunDa Medical (润达医疗) at 163 million yuan, and Capbio at 128 million yuan [1] Group 2: Impact of Price Reductions and Impairment Provisions - Price reductions in the testing sector have led to widespread profit shrinkage among medical testing companies, with some firms making impairment provisions for accounts receivable [4] - Companies like KingMed Diagnostics (金域医学) have made significant impairment provisions, totaling 345 million yuan, primarily for accounts receivable, which reduced their consolidated profit by the same amount [4] - Lanwei Medical (兰卫医学) reported a total impairment provision of 16.73 million yuan, with 13.50 million yuan specifically for accounts receivable [5] Group 3: Recovery Trends and Future Outlook - The Ministry of Finance has indicated a commitment to debt reduction policies, which may accelerate the collection of accounts receivable from public hospitals [5] - Companies are implementing strategies to manage accounts receivable more effectively, with Puni Testing focusing on tailored collection strategies for major clients [6] - DiAn Diagnostics (迪安诊断) anticipates improved collection trends in the second half of the year, with expectations that all COVID-related accounts receivable will be fully provisioned by year-end [5][6]

证券日报网讯凯普生物（300639）11月11日在互动平台回答投资者提问时表示，截至2025年10月30日， 公司股东总户数为28450户。 ...

Core Points - The company, Capstone Bio, announced that as of the disclosure date, it and its subsidiaries have been involved in 102 litigation and arbitration cases over the past twelve months, with a total amount of 416 million yuan, accounting for 10.12% of the most recent audited net assets attributable to shareholders [1][1][1] - Among these cases, the company and its subsidiaries are plaintiffs in 69 cases, involving an amount of 357 million yuan, while they are defendants in 33 cases, involving an amount of 59 million yuan [1][1][1] - Currently, there are no significant litigation or arbitration matters where the amount involved exceeds 10% of the most recent audited net assets and is over 10 million yuan [1][1][1] - Some cases are still pending or unresolved, leading to uncertainty regarding their impact on the company's profits [1][1][1]

证券代码：300639 证券简称：凯普生物 公告编号：2025-066 广东凯普生物科技股份有限公司 其中，公司及合并报表范围内的子公司作为原告（或申请人、反诉原告）的诉 讼、仲裁案件 69 起，涉案金额合计为 35,716.81 万元，占涉诉案件总金额的 85.89%； 公司及合并报表范围内的子公司作为被告（或被申请人、反诉被告）的诉讼、仲裁 案件 33 起，涉案金额合计为 5,869.57 万元，占涉诉案件总金额的 14.11%。案件 的主要情况详见本公告附件《累计诉讼、仲裁案件情况统计表》。 截至本公告披露日，公司及合并报表范围内的子公司不存在单项涉案金额占公 司最近一期经审计净资产绝对值 10%以上，且绝对金额超过人民币 1,000 万元的重 大诉讼、仲裁事项。 二、其他尚未披露的诉讼、仲裁事项 截至本公告披露日，公司不存在其他应披露而未披露的其他诉讼、仲裁事项。 三、累计诉讼、仲裁案件对公司本期利润或期后利润的可能影响 此次累计诉讼、仲裁案件中，多数案件为公司及子公司作为原告追索对方拖欠 公司的应收款项等，诉讼对象主要为 2020 年-2022 年期间拖欠公司货款或检测服 务费至今的各地卫健委或公立 ...

Core Viewpoint - CapBio announced the grant of a patent for a microfluidic chip used for live cell sorting, enhancing the accuracy of cell sorting without damaging the cells, aligning with the company's strategic planning and strengthening its intellectual property system [1] Group 1: Patent Details - The patent titled "A Microfluidic Chip for Live Cell Sorting" was granted in October 2025 [1] - The patent number is 2024203531, awarded by Australia, and the patent rights are held by CapBio and two other companies [1] - This invention is applicable to the company's ongoing projects and has been authorized in multiple regions [1] Group 2: Strategic Implications - The patent aligns with the company's strategic planning, contributing to the enhancement of its core competitiveness [1] - The development of this technology is expected to improve the company's intellectual property framework [1]

关于公司及子公司获得发明专利授权的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或者重大遗漏。 广东凯普生物科技股份有限公司（以下简称"凯普生物"或"公司"）以及子公司 在 2025 年 10 月获得发明专利授权情况如下： 证券代码：300639 证券简称：凯普生物 公告编号：2025-065 广东凯普生物科技股份有限公司 广东凯普生物科技股份有限公司董事会 二〇二五年十一月四日 2 1 系，提升公司的核心竞争力。 特此公告。 | 序 | 发明专利名称 | 专利号 | 专利类型 | 授予国家/地区 | 专利权人 | | --- | --- | --- | --- | --- | --- | | 号 | | | | | | | 1 | 一种用于活体细胞 | | | | 凯普生物、广州凯普 医药科技有限公司、 | | | | 2024203531 | 发明专利 | 澳大利亚 | | | | 分选的微流控芯片 | | | | 广东凯普科技智造 | | | | | | | 有限公司 | 发明专利"一种用于活体细胞分选的微流控芯片"属于细胞分选技术领域，已 应用于公司在研项目 ...

Core Viewpoint - 凯普生物 is a leading provider of molecular diagnostic products and services in China, with a focus on the full industry chain of nucleic acid testing [1] Group 1: Business Overview - Established on June 13, 2003, and listed on the Shenzhen Stock Exchange on April 12, 2017, 凯普生物 is headquartered in Chaozhou, Guangdong Province [1] - The company's main business includes the research, production, and sales of molecular diagnostic reagents and related instruments, as well as providing relevant services [1] - The company operates within the pharmaceutical and biological industry, specifically in medical devices and in vitro diagnostics, with concepts including private hospitals and gene sequencing [1] Group 2: Financial Performance - For Q3 2025, 凯普生物 reported revenue of 486 million yuan, ranking 18th out of 39 in the industry, below the industry average of 708 million yuan [2] - The company experienced a net loss of 189 million yuan during the same period, ranking 37th out of 39, while the industry average net profit was 110 million yuan [2] - The top performer in the industry, 新产业, achieved revenue of 3.428 billion yuan, with a median revenue of 330 million yuan [2] Group 3: Financial Ratios - As of Q3 2025, 凯普生物's debt-to-asset ratio was 12.93%, an increase from 10.04% year-on-year, but still below the industry average of 18.29% [3] - The gross profit margin for Q3 2025 was 47.56%, down from 53.81% year-on-year, and also below the industry average of 56.20% [3] Group 4: Executive Compensation - The chairman, 管乔中, received a salary of 2.0459 million yuan in 2024, a decrease of 120,800 yuan from 2023 [4] - The general manager, 王建瑜, earned 1.9316 million yuan in 2024, down by 97,100 yuan from the previous year [4] Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 0.10% to 28,200 [5] - The average number of circulating A-shares held per shareholder decreased by 0.10% to 22,500 [5] - Among the top ten circulating shareholders, the medical device ETF (159883) is the ninth largest, holding 2.392 million shares as a new shareholder [5]

Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 486 million CNY, a year-on-year decrease of 20.38% [2] - The net profit attributable to shareholders was -128 million CNY, with a year-on-year loss reduction of 51.25% [2] - The net profit after deducting non-recurring items was -135 million CNY, with a year-on-year loss reduction of 49.89% [2] - Operating cash flow increased by 173.06% to 121 million CNY [2] - Quarterly revenue comparisons show a decline of 26.78% in Q1, 19.87% in Q2, and 15.14% in Q3 compared to the same periods last year [2] Revenue Influencing Factors - Revenue decline primarily due to the impact of HPV centralized procurement and the reduction of non-core projects in the medical testing sector [2] - Profitability affected by changes in VAT rates for self-produced products, operating costs in the medical testing sector, and provisions for credit and asset impairments [2] Accounts Receivable and Impairment - As of the end of Q3, accounts receivable stood at 1.864 billion CNY, with 1.253 billion CNY related to unconventional testing products and medical services from 2020-2022 [3] - Most of the receivables have been impaired, with a book value of only 354 million CNY [3] - Confidence in recovering receivables is bolstered by local government debt clearance policies [3] HPV Market Impact - The HPV centralized procurement policy led to price reductions starting in Q4 of the previous year, with a reduced impact expected in Q4 2025 [4] - The company’s market share and sales volume for HPV testing reagents have not significantly changed compared to last year [4] New Product Development - Other products outside of HPV have seen overall sales growth, with significant potential in STD and hepatitis B products [6] - New products in the tumor methylation detection field have been developed, with cervical cancer products already registered [6] - The company is focusing on high-end testing projects and personalized medicine, with ongoing product registrations [6] Medical Testing Services - The medical testing services segment has seen a revenue decline due to strategic adjustments and impairment provisions, but losses are gradually narrowing [7] Hospital Development Plans - The Kaipu Kanghe Hospital is a key part of the company’s healthcare service strategy, with a focus on specialized medical centers [8] - The hospital is expected to achieve breakeven after the completion of specialized facility construction in early next year [9] Drug Development Initiatives - The company is developing modified new drugs, including a treatment for HPV infections, which is in the clinical trial phase [9]

Core Viewpoint - Capstone Bio (300639.SZ) reported its Q3 2025 results, highlighting a significant institutional investment presence with 43.69% of total shares held by six institutional investors as of October 28, 2025 [1] Institutional Holdings - A total of 6 institutional investors disclosed holdings in Capstone Bio, amounting to 282 million shares, which represents 43.69% of the company's total equity [1] - The institutional holding percentage increased by 0.13 percentage points compared to the previous quarter [1] Public Fund Holdings - One public fund, the Medical Device ETF, increased its holdings during this period, with an increase percentage of 0.21% [1] - A total of 46 public funds did not disclose their holdings in this quarter, including notable funds such as Guojin Quantitative Multi-Factor A, E Fund CSI Wande Biotechnology Index (LOF) A, and others [1]

Core Insights - The company reported a total operating revenue of 486 million yuan for Q3 2025, ranking 43rd among disclosed peers, which represents a decrease of 124 million yuan or 20.38% year-on-year [1] - The net profit attributable to shareholders was -128 million yuan, ranking 75th among peers [1] - The net cash inflow from operating activities was 121 million yuan [1] Financial Metrics - The latest debt-to-asset ratio is 12.93%, an increase of 2.89 percentage points compared to the same period last year [3] - The latest gross profit margin is 47.56%, ranking 48th among peers, down 6.25 percentage points year-on-year [3] - The latest return on equity (ROE) is -3.32%, ranking 72nd among peers [3] - The diluted earnings per share (EPS) is -0.20 yuan, ranking 70th among peers [3] - The total asset turnover ratio is 0.11 times, ranking 72nd among peers, remaining flat year-on-year but down 3.28% compared to the previous year [3] - The inventory turnover ratio is 3.51 times [3] Shareholder Information - The number of shareholders is 28,200, with the top ten shareholders holding 306 million shares, accounting for 47.41% of the total share capital [3] - The largest shareholder is Hong Kong Science and Technology Venture Capital Co., Ltd., holding 29.8 million shares [3] - Other significant shareholders include Yunnan Zhonghe Enterprise Management Co., Ltd. and Shenzhen Guodiao Investment Fund, holding 6.21 million and 4.76 million shares respectively [3]