Announcement on receipt of inquiry letter from Shanghai Stock Exchange
Securities code: 688575 Securities abbreviation: Yahuilong Announcement number: 2026-003 Shenzhen Yahuilong Biotechnology Co., Ltd.
The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents in accordance with the law.
Shenzhen Yahuilong Biotechnology Co., Ltd. (hereinafter referred to as the "Company" or "Yahuilong") received the SSE Kechuang Official Letter [2026] No. 0001 "Inquiry Letter Regarding Voluntary Information Disclosure Matters of Shenzhen Yahuilong Biotechnology Co., Ltd." (hereinafter referred to as the "Inquiry Letter") issued by the Company Management Department of the Shanghai Stock Exchange Science and Technology Innovation Board on January 6, 2026. The specific contents of the "Inquiry Letter" are as follows:
"Shenzhen Yahuilong Biotechnology Co., Ltd.:
On January 6, 2026, the company submitted the "Announcement on Voluntary Disclosure of the Signing of Strategic Cooperation Framework Agreement" stating that the company signed a "Strategic Cooperation Framework Agreement" with Shenzhen Brain Machine Starlink Technology Co., Ltd. (hereinafter referred to as Brain Machine Starlink). The two parties will cooperate in product research and development, marketing and equity investment. Currently, the company indirectly holds 4% of the equity of Brain Machine Starlink. In accordance with Article 14.1.1 of the Exchange's "Stock Listing Rules on the Science and Technology Innovation Board" and other relevant regulations, companies are now requested to verify and supplementally disclose the following matters.
The announcement disclosed that Brain Computer Starlink was established in September 2025 with a registered capital of 5 million yuan. Its main business includes comprehensive diagnosis, treatment and rehabilitation of brain diseases. According to the framework agreement, the two parties will cooperate in marketing and share sales revenue. Please provide the company with additional disclosures: (1) Brain-Computer Starlink’s main technical routes, main product types, application fields, product R&D or commercialization status, and whether it has various resources to promote subsequent R&D or commercialization; (2) Combined with the company’s main business, explain the application fields and application fields of the products of both parties. Synergy in terms of customers, channels, etc., and analyze the feasibility of cooperation in marketing promotion; (3) Combined with the research and development progress of Brain Computer Starlink products, explain the expected timetable for the two parties to sign a follow-up promotion agreement in the future, and the earliest time when both parties expect to carry out marketing promotion and the company expects to obtain related revenue sharing.
The announcement disclosed that the two parties will strengthen research and development cooperation in the fields of pediatrics, neurological diseases and metabolism. The company is requested to provide additional disclosures: (1) The name of the company's ongoing research projects, R&D progress, and expected uses in the relevant areas of proposed cooperation; (2) Explain the specific areas of cooperative R&D, cooperation methods, and the company's expected investment amount, and analyze the feasibility of cooperative R&D between the two parties based on the company's ongoing research projects and the technical routes of both parties; (3) Supplement the estimated timetable for the two parties to sign a specific R&D agreement.
The announcement disclosed that the company can provide financial and business support for Brain Machine Star Chain through equity investment, joint ventures, etc. According to the company's third quarterly report for 2025, the company's operating income and net profit in the first three quarters of 2025 fell 7.69% and 72% year-on-year respectively, with book monetary funds of 465 million yuan. The company is requested to provide additional disclosures: (1) The specific arrangements and forms of equity investment or financial support that the company intends to make for Brain Machine Starlink in the future; (2) The specific reasons for the company's sharp decline in performance in the first three quarters of 2025; (3) Combined with the company's performance and funding status, explain the specific impact of relevant cooperation on the company's existing main business, and analyze the rationality of carrying out relevant cooperation.
Trading data shows that the company’s stock price closed up 6.52% on January 6, and the trading volume increased by 299% compared with the previous trading day. The company is requested to conduct a self-examination on the transactions of insiders regarding the signing of the framework agreement, disclose the results of the self-inspection to the outside world, and submit a list of insiders for reference.
Please ask your company to disclose this inquiry letter immediately and disclose its response to this inquiry letter before January 8, 2026. "
The company will respond to the issues involved in the "Inquiry Letter" as soon as possible and fulfill its information disclosure obligations in a timely manner in accordance with the requirements of the Shanghai Stock Exchange. Investors are kindly requested to pay attention to the company's announcements and be aware of investment risks.
Announcement is hereby made.
Board of Directors of Shenzhen Yahuilong Biotechnology Co., Ltd.
January 7, 2026