Core Viewpoint - The announcement of the passing of Mr. Cui Fuzhai, the founder and actual controller of AoJing Medical, highlights his significant contributions to the company and the biomaterials industry, while assuring that the company's operations will remain stable despite this loss [2][4][5]. Group 1: Company Background and Contributions - Mr. Cui Fuzhai was instrumental in the development of AoJing Medical, leading it to become a leading enterprise in the biomaterials industry and a listed company on the Sci-Tech Innovation Board [4]. - He was an internationally recognized expert in biomaterials, contributing to the advancement of biomaterials and regenerative medicine globally, and helping position China's medical device industry among the world's leaders [4]. - AoJing Medical was established in 2004 and specializes in the research, production, and sales of medical devices for tissue regeneration and repair [5]. Group 2: Shareholding and Succession - As of the announcement date, Mr. Cui directly held 6.3348 million shares, accounting for 4.62% of the company's total share capital, and indirectly held 354,100 shares through a partnership, representing 0.26% of the total [4]. - The shares held by Mr. Cui will be subject to inheritance procedures according to legal regulations, and the company will fulfill its information disclosure obligations regarding subsequent developments [4]. Group 3: Company Operations and Stability - Mr. Cui served as the Chief Scientist and was not part of the management team, ensuring that his passing will not lead to management changes [5]. - The company has a stable core technology team, and its research and operational stability will not be affected by Mr. Cui's death [5]. - AoJing Medical's production and business activities are reported to be stable and ongoing, with all directors and senior management continuing their duties diligently [5]. Group 4: Financial Performance - In 2024, the company reported revenue of 206 million yuan, a year-on-year decrease of 9.03%, and a net loss attributable to shareholders of 12.66 million yuan [10]. - The loss was attributed to the nationwide implementation of centralized procurement for orthopedic artificial bones, leading to a decrease in product prices and revenue, alongside increased costs and expenses related to market activities and acquisitions [11].

Core Viewpoint - The passing of Mr. Cui Fuzhai, a founder and actual controller of AoJing Medical, is a significant event for the company, but it is not expected to impact the company's management or operations due to the stability of its core technical team and ongoing business activities [2][3]. Company Overview - AoJing Medical, established in 2004, focuses on the research, production, and sales of medical devices for tissue regeneration and repair [3]. - The company is recognized for developing a biomimetic bone material that closely resembles natural human bone tissue, achieving clinical transformation and industrialization [3]. - AoJing Medical was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in May 2021 [3]. Leadership and Contributions - Mr. Cui Fuzhai, who passed away at the age of 80, was a prominent figure in the field of biomaterials and made significant contributions to the development of the industry in China [2][4]. - He held various academic and managerial positions, including serving as the company's general manager from 2004 to 2012 and as chief scientist since June 2011 [4]. Financial Performance - In 2024, AoJing Medical reported a revenue of 206 million yuan, a year-on-year decrease of 9.03%, and a net loss attributable to shareholders of 12.66 million yuan [6]. - The decline in revenue is attributed to the nationwide implementation of centralized procurement for orthopedic artificial bones, leading to a decrease in unit prices and increased costs due to higher sales volumes [6]. - Additional factors contributing to the loss include increased market activity expenses, costs associated with the acquisition of HumanTech Dental, and extended credit terms for certain distributors [6].