Core Viewpoint - The valuation of Nohow Health has been drastically reduced by multiple fund companies, reflecting a pessimistic outlook on its prospects for resuming trading after a prolonged suspension of nearly 15 months [1][2][5]. Valuation Adjustments - On June 25, Changcheng Fund announced a new valuation of Nohow Health at HKD 1.20 per share, representing a 91.51% decrease from its last trading price of HKD 14.14 per share [3][5]. - Since mid-last year, over 40 valuation adjustments have been made by various fund companies, with Dachen Fund adjusting its valuation from HKD 10.12 per share to HKD 1.81 per share [7]. Company Background - Nohow Health, once known as "China's first cancer screening stock," was listed on the Hong Kong Stock Exchange in February 2021 and focuses on the development and commercialization of screening products for colorectal, gastric, and cervical cancers [8]. - The company faced serious allegations of financial misconduct, including a report by Capital Watch claiming that its actual sales for 2022 were only CNY 76.95 million, significantly lower than the reported CNY 765 million [8]. Regulatory and Management Issues - Deloitte raised three major concerns regarding Nohow Health's 2023 annual report, questioning the validity of sales transactions and the effectiveness of marketing expenditures [8]. - Nohow Health was suspended from trading on March 28, 2024, due to its inability to publish its annual report on time, and its founder resigned from key positions in December 2024 [8]. Potential Delisting - According to Hong Kong Stock Exchange regulations, if Nohow Health remains suspended for 18 months, it may face mandatory delisting, with only about three months left before this deadline [9].

Core Viewpoint - The valuation of Nohui Health has been drastically reduced by multiple fund companies, reflecting a pessimistic outlook on its prospects for resuming trading after a prolonged suspension [2][4][9]. Valuation Adjustments - On June 25, Changcheng Fund announced a new valuation of Nohui Health at 1.20 HKD per share, a 91.51% decrease from its last trading price of 14.14 HKD [7][12]. - Since mid-last year, over 40 valuation adjustments have been made by various fund companies, with Dachen Fund reducing its valuation from 10.12 HKD to 1.81 HKD [9][11]. - Shanghai Guangzheng Asset Management has also adjusted its valuation four times, from 12.73 HKD to 5.70 HKD [9]. Company Background - Nohui Health, once known as "China's first cancer screening stock," was listed on the Hong Kong Stock Exchange in February 2021 and focuses on the development and commercialization of screening products for colorectal, gastric, and cervical cancers [11]. - The company faced allegations of financial misconduct, with a report claiming its actual sales in 2022 were only 76.95 million, significantly lower than the reported 765 million [11]. Suspension and Future Risks - Nohui Health has been suspended from trading since March 28, 2024, due to its inability to publish its annual report on time [12]. - According to Hong Kong Stock Exchange regulations, if the suspension lasts for 18 months, the company may face mandatory delisting, leaving it with approximately three months before this deadline [13].

Group 1 - The cancer prevention and treatment situation in China remains severe, with 4.82 million new cancer cases and 2.57 million deaths reported in 2022, indicating a diagnosis every minute and a death every 15 seconds [1] - The top five cancers in terms of new cases are lung cancer, colorectal cancer, thyroid cancer, liver cancer, and stomach cancer, which together account for 57.42% of new cases, highlighting key areas for cancer prevention [1] - Early detection significantly improves cure rates for cancers, particularly colorectal cancer, where the five-year survival rate is 91.8% if detected early, but drops to 10.8% if treatment is delayed [1] Group 2 - Nohui Health's Changweiqing is a non-invasive colorectal cancer screening product that requires only a stool sample, utilizing triple detection technology with a negative predictive value of 99.6% [3] - All commercialized products from Nohui Health are supported by extensive clinical data, ensuring their professionalism, compliance, reliability, and high recognition [3] - Changweiqing is the only product included in all national colorectal cancer screening and treatment guidelines in China, underscoring its significance in the market [3]