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Text/Daily Financial Report Lv Mingxia

Recently, the first-instance judgment of a shareholding dispute case between GeneDx Biopharmaceuticals (603387.SH) and its subsidiary Jingchuan Diagnostics (831676.NQ) was announced. The latter claimed that more than ten people including GeneDx Biopharmaceuticals' secretary Liu Cong broke into the office and attempted to enter the finance office.

Jingchuan Diagnostics announced that at around 3 pm on August 5, GeneDx Biotech's Secretary Liu Cong, Deputy General Manager Yan Bin, and Chief Financial Officer Ni Wen led more than a dozen people to suddenly break into the company's office and attempted to enter the company's finance office by force. "At present, the company's employees can no longer work with peace of mind, and Jingchuan Diagnostics has now suspended production. If the suspension lasts for a long time, it will have a serious adverse impact on the company's subsequent development."

During the conflict, both sides called the police. Eventually, more than a dozen special police officers and local police officers arrived at the scene again and took the relevant personnel of GeneDx Bio away from the company.

Jingchuan Diagnostics was founded in 2006 and listed on the New Third Board in 2015; GeneDx was founded in 2002 and listed on the Shanghai Stock Exchange Main Board in 2017. Both companies focus on the field of IVD reagents and instruments. In 2020, GeneDx became the controlling shareholder of Jingchuan Diagnostics through an agreement transfer and capital increase.

It is reported that the two companies are also involved in multiple lawsuits and counterclaims. However, the main obstacle surrounding GeneDx Bio's failure to acquire the remaining shares of Jingchuan Diagnostics has led to a "Rashomon" between the two parties. As for the follow-up of the acquisition dispute, Jingchuan Diagnostics hopes to resolve it as soon as possible.

In recent years, the IVD field has undergone many changes. The last case that was brought to court due to changes in mergers and acquisitions was the 10 billion yuan arbitration case between Tianlong and Kehua, which ended in a settlement.

Where will the lawsuit between Jingchuan Diagnostics and GeneDx Biotech go this time? Daily Financial Report will continue to pay attention.