Group 1 - The core viewpoint of the article is that Kaineng Health (300272) has outlined a strategic development plan for 2026, focusing on a dual-driven strategy of "building a foundation in the water purification industry and expanding the cell industry" under the theme of "new beginning, new energy, new journey" [1] Group 2 - Kaineng Health aims to fully promote its dual-driven strategy, which includes strengthening its core business in water purification while also expanding into the cell industry [1]

Core Insights - Liu Xin, a scientist from Yunnan, is dedicated to advancing the cell industry and transforming her respect for life into a driving force for innovation [2][3] Group 1: Background and Motivation - Liu Xin's childhood experiences with illness motivated her to pursue a career in medicine, leading her to study biochemistry and molecular biology at China Union Medical University [3] - After completing her PhD, she worked on vaccine development at the Chinese Academy of Medical Sciences and later studied in the United States, where she recognized the importance of translating research into practical applications [3][4] Group 2: Career Transition - In 2012, Liu Xin became an associate professor at Shanghai Jiao Tong University but felt a gap between basic research and practical application [4] - In 2014, she made the decision to leave academia for the industry to facilitate faster development and application of technology [4] - Inspired by the approval of a cell therapy for lymphoma in 2017, she decided to return to Yunnan to start a business focused on translating scientific research into practical solutions [4] Group 3: Entrepreneurship and Challenges - In 2018, Liu Xin co-founded Kunming Shiguangji Biological Technology Co., Ltd., facing challenges such as funding and talent acquisition [4][5] - The company started with a small team and gradually expanded to nearly 50 members by recruiting key personnel and training graduates [4][5] Group 4: Industry Development and Platform Building - Liu Xin identified common industry challenges such as long approval cycles and a lack of professional service platforms, leading her to establish a collaborative platform for the cell industry [5] - In 2019, her company partnered with a state-owned enterprise to create the Yunnan Cell Engineering Center, aiming to provide a one-stop service platform for the cell therapy sector [5] - The establishment of a testing center has significantly reduced costs and time for cell product testing, benefiting nearly 20 companies [5] Group 5: Talent and Future Vision - Liu Xin emphasizes the importance of talent in innovation, focusing on professional skills, practical spirit, and intrinsic motivation in her team [6] - The company aims to create an open, collaborative ecosystem among the 30+ enterprises in the park to lower innovation costs and foster synergy [6] - Liu Xin envisions developing the park into a leading international professional hub in Southwest China, leveraging Yunnan's unique biodiversity for innovative product development [6]

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 - 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].

格隆汇11月24日丨开能健康(300272.SZ)公布，公司的全资子公司海南开能细胞与原能集团及原能丽水 签订《关于原能细胞科技集团股份有限公司子公司之股权收购协议》，海南开能细胞以现金方式收购原 能丽水持有的原天生物、丽水东昕100%股权及原能集团持有的克勒猫、基元美业100%股权。本次交易 不会对公司本年度财务状况及经营成果造成重大影响。 本次交易以符合《证券法》规定的资产评估机构出具的模拟合并主体资产评估报告中的评估结果作为定 价依据，最终确定本次交易标的股权的转让价款为20,381.66万元。本次收购后，公司将持有原天生物、 基元美业、丽水东昕、克勒猫100%股权，公司合并报表范围将新增以上公司及其控股子公司（上海东 昕、莱森原、欧珊尔）。 由于本次交易目标公司均属于原能集团同一控制的主体，在原能集团的合并范围内，因此，本次收购完 成后，上述主体均将被开能健康的细胞业务子公司海南开能细胞控制，收购前后保持同一控制的相互关 系。其次，原天生物、丽水东昕和基元美业同属细胞产业链上下游关系，相互之间存在业务协同，如： 原天生物为基元美业提供细胞因子化妆品的研发支持和原料供应；原天生物为莱森原提供宠物保健抗衰 ...

Core Viewpoint - The company announced a cash acquisition of 100% equity stakes in several subsidiaries of Yuan Neng Group, which will enhance its control over the cell industry value chain and create business synergies [1][2] Group 1: Acquisition Details - The acquisition involves Hainan Kaineng Cell acquiring 100% equity of Yuan Tian Biological, Lishui Dongxin, Kele Cat, and Jiyuan Meiyu from Yuan Neng Group [1] - The total transaction price is set at 203.82 million yuan [2] - The acquired companies are all under the same control of Yuan Neng Group, ensuring continuity in management and operational relationships post-acquisition [1] Group 2: Business Synergies - Yuan Tian Biological provides research and raw material support for Jiyuan Meiyu's cell factor cosmetics [1] - Yuan Tian Biological also offers technical support for pet health and anti-aging business to Laisenyuan [1] - Lishui Dongxin's subsidiary, Shanghai Dongxin, operates the Yuan Neng Pharmaceutical Park, indicating a tight business and ecological relationship among the acquired entities [1]