Hengtong Co., Ltd. shares hit the daily limit down as the company announces plans to acquire a target with 274 million yuan in cash, with the valuation premium exceeding five times.

China Economic Net Beijing, March 16 — Hengtong Co., Ltd. (600226.SH) hit the daily limit down today, closing at 5.42 yuan, down 9.97%.

On March 14, Hengtong Co., Ltd. announced its plan to acquire a 40% stake in Chongqing Aolong Biological Products Co., Ltd. Hengtong intends to purchase this stake from Huapai Biotechnology (Group) Co., Ltd. (referred to as “Huapai Biotech”) using its own funds or self-raised funds of 274 million yuan.

After the completion of this acquisition, the company will hold a 40% stake in Aolong Biological, which will not be consolidated into the company’s financial statements. This transaction does not constitute a related-party transaction or a major asset restructuring. The transaction was approved at the 32nd meeting of the company’s 9th Board of Directors and does not require approval from the shareholders’ meeting.

According to the “Valuation Report of the Shareholders’ Equity of Chongqing Aolong Biological Products Co., Ltd. involved in the proposed acquisition by Zhejiang Hengtong Holding Co., Ltd.” issued by Northern Asia Asset Appraisal Limited on January 13, 2026, with August 31, 2025, as the valuation date, using the income approach for valuation, the total equity value of Aolong Biological is 751.78 million yuan. Compared to its book value of 120.92 million yuan, this represents an appreciation of 630.86 million yuan, or 521.71%. After negotiations, the valuation of 100% of Aolong Biological’s equity is 685 million yuan, and the transfer price for a 40% stake is 274 million yuan.

(责任编辑：华青剑)

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