---
title: "ST eDiagnosis conducted a large-scale share repurchase, yet the stock price still fell to a five-year low, with a market value less than the net amount of three types of liquid assets after deducting liabilities"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290656638.md"
description: "ST eDiagnosis completed a share repurchase of 154 million yuan, accounting for 4.06% of the total share capital. Despite the company being subject to delisting risk warnings and projected losses in 2025, this marks the first large-scale repurchase after being capped. However, the stock price did not receive a boost, falling to a five-year low, with a market value of 3.432 billion yuan, even lower than the net amount of liquid assets after deducting liabilities"
datetime: "2026-06-24T06:58:12.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290656638.md)
  - [en](https://longbridge.com/en/news/290656638.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290656638.md)
---

# ST eDiagnosis conducted a large-scale share repurchase, yet the stock price still fell to a five-year low, with a market value less than the net amount of three types of liquid assets after deducting liabilities

Everyday Reporter: Yan Fengfeng Everyday Editor: Wu Yongjiu

Recently, \*ST eDiagnosis announced the results of its share repurchase, spending 154 million yuan to repurchase a total of 4.06% of the company's shares. However, the company's repurchase actions did not change the weak stock price, which fell to a nearly five-year low, with a market value of only 3.432 billion yuan on June 23. The market value of 3.432 billion yuan is even less than the net amount of the company's three types of liquid assets (cash, trading financial assets, and non-current assets due within one year) after deducting total liabilities.

## While "wearing a hat," the company repurchases shares

On the evening of June 22, the main board listed company \*ST eDiagnosis announced that as of June 22, 2026, the implementation period for the company's share repurchase had expired. The company repurchased a total of 9.437 million shares through a dedicated securities account for share repurchase via centralized bidding, accounting for 4.06% of the company's total share capital, with a highest transaction price of 17.5 yuan/share and a lowest of 15.13 yuan/share, for a total payment of 154 million yuan (excluding transaction fees), with an average repurchase price of approximately 16.28 yuan/share. The company's share repurchase plan has been completed.

This repurchase originated from the plan approved by the company on March 23, 2026—intending to use no less than 100 million yuan and no more than 200 million yuan of its own funds, with a price not exceeding 28 yuan/share, to maintain the company's value and shareholder rights. The repurchased shares will be sold at an appropriate time 12 months after the disclosure of the results announcement, to be completed within three years, and any unsold portion will be canceled after following procedures.

This is also the first large-scale repurchase completed by \*ST eDiagnosis after being subjected to "delisting risk warning."

The company's stock has been subject to "delisting risk warning" since April 22, 2026, with the direct trigger point being the performance situation in 2025. The company's total profit for the fiscal year 2025 was a loss of 63.794 million yuan, with a net profit attributable to shareholders of the listed company being a loss of 16.4607 million yuan, and the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses being a loss of 116.898 million yuan, with operating revenue of 265.0787 million yuan.

According to the "Shenzhen Stock Exchange Stock Listing Rules (2025 Revision)," the company's financial indicators for the fiscal year 2025 triggered the provisions of Article 9.3.1, Clause 1, Item (1), which states that "the lowest of the audited total profit, net profit, and net profit after deducting non-recurring gains and losses for the most recent accounting year is negative, and the deducted operating revenue is less than 300 million yuan," leading the Shenzhen Stock Exchange to implement a delisting risk warning for the company's stock trading.

It is worth noting that the company's revenue reached 10.53 billion yuan in 2022, with a net profit attributable to the parent company of 4.208 billion yuan, and within three years, the company has fallen to a situation of revenue below 300 million and a loss exceeding 100 million after deductions. Public information shows that the company's main business is the research, development, production, sales, and service of in vitro diagnostic reagents and diagnostic instruments

## The net amount of three types of liquid assets after deducting total liabilities is higher than the company's market value

The continuously declining performance has also led to weak stock price performance. As of the close on June 23, the company's stock price was reported at 14.77 yuan per share, which is at a relative low point over the past five years, with a total market value of approximately 3.432 billion yuan. The company's market value of 3.432 billion yuan is even less than the net amount of three types of liquid assets after deducting total liabilities.

As of the end of the first quarter of 2026, the total cash on the company's books was 777 million yuan, the total trading financial assets were 2.075 billion yuan, and the non-current assets maturing within one year were 1.116 billion yuan. The total of these three types of relatively high liquidity and relatively low-risk assets (cash, trading financial assets, and non-current assets maturing within one year) amounts to 3.968 billion yuan.

Although the company has not disclosed specific details of its trading financial assets, the trading financial assets at the end of the first quarter increased from 394 million yuan at the end of 2025 to 2.075 billion yuan, an increase of 426%. The company explained that this was mainly due to the purchase of wealth management products. It can be seen that most of the company's trading financial assets are wealth management products. Among the 394 million yuan of trading financial assets at the end of 2025, there were 121 million yuan in equity instrument investments and 273 million yuan in other types of assets, but the company did not provide an explanation for the 273 million yuan in other types of assets.

As of the end of the first quarter, the company's non-current assets maturing within one year amounted to 1.116 billion yuan. The company also did not disclose the details of this asset in the first quarter report. However, based on the company's 2025 annual report, it can be inferred that most of this portion of assets are also wealth management products. At the end of 2025, the total amount of non-current assets maturing within one year was 2.928 billion yuan, of which 2.924 billion yuan were large time deposits maturing within one year, and 3.5799 million yuan were receivables maturing within one year. The company stated that the significant decrease in non-current assets maturing within one year at the end of the first quarter was mainly due to the maturity of wealth management products.

As of the end of the first quarter, the company's total liabilities amounted to 348 million yuan, and there were no large interest-bearing liabilities among the company's debts, with the largest interest-bearing liability being a short-term loan of 11.9951 million yuan.

The total of the above three types of liquid assets, 3.968 billion yuan, minus the total liabilities of 348 million yuan, results in a net amount of 3.62 billion yuan. If the minority shareholders' equity portion (which accounts for 2.61%) is deducted, the net amount attributable to the listed company would be 3.526 billion yuan, which is already higher than the closing market value of 3.432 billion yuan on June 23 In other words, based on the financial statements at the end of the first quarter, the value of the company's cash, trading financial assets, and non-current assets due within one year, after deducting the total liabilities of the company, has already exceeded the company's current market value. This does not yet consider the remaining RMB 731 million in current assets (including RMB 449 million in accounts receivable, RMB 95.71 million in inventory, RMB 74.15 million in other current assets, etc.) and RMB 1.32 billion in non-current assets.

The phenomenon where the net amount of these three types of liquid assets exceeds the company's market value after deducting total liabilities is relatively rare in the capital market. The company's poor performance in the secondary market may be due to factors related to the company's performance, as well as market concerns about the risk of the company being delisted.

So, does the company currently have any plans or measures to maintain its listing? How does the company plan to improve its future performance? Is there a risk of significant asset impairment? In this regard, a reporter from the Daily Economic News sent an interview email to the company, but as of the time of publication, no response has been received.

Daily Economic News

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