昊海生科切入生物羊膜赛道背后：标的业绩亏损、系实控人投资企业

Core Viewpoint - Haohai Biological Technology (688366) plans to enter the high-value biological amniotic membrane market despite a decline in revenue and net profit, through acquiring a 19.8% stake in Ruijibio [1][3][5]. Group 1: Company Acquisition Details - Haohai Biological signed a share transfer framework agreement to acquire shares from Ruijibio's existing shareholders for a total of approximately 43.91 million yuan [1]. - The acquisition price is set at 4.53 yuan per share, based on the market price before Ruijibio's delisting from the National Equities Exchange and Quotations [3]. - Ruijibio specializes in producing and selling biological amniotic membranes, which are classified as Class III medical devices used in orthopedic and ophthalmic fields [1][3]. Group 2: Financial Performance - Ruijibio reported revenues of approximately 46.36 million yuan and 46.09 million yuan for 2024 and the first three quarters of 2025, respectively, with net losses of 11.77 million yuan and 11.29 million yuan [4]. - Haohai Biological's revenue for the first three quarters of this year was approximately 1.899 billion yuan, a year-on-year decrease of 8.47%, while net profit was about 305 million yuan, down 10.63% year-on-year [5]. Group 3: Strategic Implications - The investment in Ruijibio is expected to enhance Haohai Biological's product portfolio and expand its business coverage in the ophthalmic and orthopedic sectors [3]. - The biological amniotic membrane materials possess human-derived biological characteristics, providing a significant technological and material foundation for research and development in regenerative medicine and tissue engineering [3].