Caina Technology Co. Ltd.

Caina Shares announced it is planning to acquire no less than 20% of Zhejiang Paitide Biotech Co., Ltd. by way of cash payment. The company has signed a letter of intent for the acquisition with seven transferors including Xing Haiying and Shengzhou Hanyuan Investment Management Partnership, a limited partnership, as well as the target company. The transaction is not expected to constitute a major asset restructuring. The acquisition ratio and price will be determined through negotiation after due diligence and valuation. The exclusivity period under the letter of intent runs until March 31, 2027. One of the preconditions for the formal agreement is that Zhejiang Paitide Pharmaceutical Industry Co., Ltd., a wholly owned subsidiary of Paitide Biotech, completes its spin-off or separation from Paitide Biotech. Earlier, in July this year, Paitide Pharmaceutical acquired an 18.01% stake in Caina Shares for 756 million yuan, with the transfer completed on September 15, making it an important shareholder of the listed company. Paitide Biotech was founded in July 2015 with registered capital of 41.7092 million yuan. It is a national-level specialized and sophisticated little giant enterprise. Its business is divided into peptide cosmetic raw materials and peptide pharmaceuticals, with customers including Proya, Bloomage Biotechnology, China Resources Double-Crane, and Simcere Pharmaceutical. According to Qichacha, China Resources Double-Crane is the largest shareholder with a 25.29% stake. The company has no controlling shareholder, and the actual controller is Xing Haiying. Paitide Biotech had its ChiNext IPO application accepted by the Shenzhen Stock Exchange in June 2023, planning to raise 1.245 billion yuan. It withdrew the application in December of that year, and the review was terminated on December 27. Its prospectus showed that from 2020 to 2022, operating revenue was 86.1704 million yuan, 143 million yuan, and 215 million yuan respectively, while net profit attributable to the parent after deducting non-recurring items was 14.3797 million yuan, 32.6907 million yuan, and 57.8575 million yuan respectively. Caina Shares is mainly engaged in medical devices, animal devices, and laboratory consumables. In 2025, it achieved operating revenue of 357 million yuan and net profit attributable to the parent of 5.6207 million yuan. In the first half of 2026, operating revenue was 273 million yuan, up 72.23% year on year, with net profit attributable to the parent of 9.8891 million yuan. The company said that if the transaction is successfully implemented, it will help integrate high-quality industry resources and achieve synergies, but the transaction is still in the planning stage and uncertainties remain.

Caina Technology Co., Ltd. announced that its wholly-owned subsidiary, Jiangsu Caina Medical Technology Co., Ltd., has received a Class III medical device registration certificate from the National Medical Products Administration for the product "Disposable Human Arterial Blood Sample Collector." The registration certificate number is 20263221776, with an approval date of August 24, 2026, and validity until August 23, 2031. The product is intended for arterial blood sample collection and storage for blood gas analysis, and is available in preset and suction types, containing calcium-balanced lithium heparin additive and sterilized by electron beam radiation. The company stated that this registration certificate will improve the product structure of its medical business segment and help advance domestic sales, though specific sales performance will depend on market promotion results.

Caina Shares released its 2026 interim report, with total operating revenue of 273 million yuan and net profit attributable to the parent company of 9.89 million yuan. Net cash inflow from operating activities was 24.59 million yuan, down 3.13% from the same period last year. The company's asset-liability ratio was 15.61%, gross margin was 24.16%, and diluted earnings per share was 0.08 yuan. The number of shareholders was 7,371, and the top ten shareholders held 70.27% of total share capital.

Caina Shares shareholders have signed an agreement with Zhejiang Paitai Pharmaceutical Industry Company Limited to transfer a total of 22.011 million shares, representing 18.01% of the total share capital, for a total consideration of 756 million yuan. This equity change will not lead to a change in the company's controlling shareholder or actual controller, and constitutes a strategic financial investment rather than a control acquisition. Paitai Pharmaceutical has committed not to reduce its shareholding within 18 months after the completion of the share transfer. The shares directly held by actual controllers Lu Jun, Lu Weiwei, and Zhao Hong are being transferred at 37.40 yuan per share, a 46.5% premium over the closing price of 25.53 yuan on July 20. Shares held by three partnerships, Weidaer, Weidafeng, and Weidayuan, are being transferred at 27.00 yuan per share. Through this transfer, the actual controllers will cash out 581 million yuan, and their combined shareholding will drop from 50.83% to 38.13%. The transferee, Paitai Pharmaceutical, is a wholly-owned subsidiary of Zhejiang Paitai Biotechnology Company Limited, established in March 2025. Its parent company has a central enterprise background, with China Resources Double-Crane Pharmaceutical Company Limited holding a 25.29% stake. As of December 31, 2025, Paitai Pharmaceutical's audited total assets were 1.641 billion yuan, net assets were 1.261 billion yuan, 2025 annual revenue was 533.54 million yuan, and net profit was 218.62 million yuan. Caina Shares has faced sustained performance pressure in recent years, with revenue declining 11.82%, 5.50%, and 8.04% year-on-year from 2023 to 2025, and net profit falling 30.46%, 52.83%, and 89.41% respectively. The introduction of a strategic industry shareholder is expected to enhance company value, but in the short term, risks such as changes in governance structure need attention.