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].