What happened
Da'an Gene said on Aug 29 that it would hold an early election for its board of directors after Guangzhou Financial Holdings Group and Guangzhou Guangyao Capital completed the equity transfer of Guangyong Technology, the company's controlling shareholder. The ninth board was not due to expire until May 25, 2028, but the company cited the need to smooth the change of its indirect controlling shareholder, improve governance, and keep decision-making and operations stable.
The tenth board will have 11 directors, including 6 non-independent directors, 4 independent directors and 1 employee representative. Guangyong Technology nominated Xu Bin, Li Xiaodong, He Jianming and Qian Xiang as non-independent director candidates, while the company's board nominated Zhang Weijie and Liang Zhikun. The independent director candidates are Zhang Shihong, Li Han, Fan Jianbing and Liu Huanliang. Public resumes show that the four nominees from Guangyong Technology all have extensive experience in the Guangyao system.
The board reshuffle follows Guangyao Capital's takeover process. A framework agreement was signed on Nov 15, 2025, and a conditional acquisition agreement was signed on May 14, 2026, with total consideration of about 2.418 billion yuan. Guangyao Capital first bought 100% of Guangyong Technology for 1.51 billion yuan, then acquired 5% stakes from Guangzhou Financial Holdings and Guangzhou Health Investment at 6.47 yuan per share. The transaction received approvals on July 21, 2026, and Guangyong Technology's registration change was completed on Aug 13, giving Guangyao Capital indirect control of 16.63% of Da'an Gene and total control of about 26.63% of the company.
Why it matters
The early election is a key step in Guangyao Capital's move into Da'an Gene, putting Guangyao-affiliated candidates across the board and signaling that the new indirect controlling shareholder is moving quickly to reshape governance.
It comes while Da'an Gene is under financial pressure. The company's 2026 first-half revenue was 328 million yuan, down 3.17% year on year, and it posted a net loss of 120 million yuan. The company lost 925 million yuan in 2024 and 744 million yuan in 2025, after three highly profitable years from 2020 to 2022.
The 2025 board election was contentious: former general manager Huang Luo and deputy general manager and board secretary Zhang Bin voted against the nominations, with Zhang Bin saying the heavy finance and accounting backgrounds of proposed directors raised uncertainty about how the board would steer an IVD and life-science company. The question now is whether the new board can resolve those concerns and pull Da'an Gene out of losses.
Key facts
Da'an Gene's ninth board was originally due to expire May 25, 2028, but an early election was announced on Aug 29 after the controlling stake transfer closed.
Guangyao Capital paid about 2.418 billion yuan in total consideration, acquiring 100% of Guangyong Technology and 10% of Da'an Gene shares to control about 26.63% of the company.
In H1 2026, Da'an Gene reported revenue of 328 million yuan, down 3.17% year on year, and a net loss of 120 million yuan.
What to watch next
Whether the reconfigured board can stabilize management and decision-making after the abrupt change at the controlling-shareholder level.
Whether the new directors' industry expertise is enough to reverse Da'an Gene's losses, especially after the 2025 dissent over the balance of financial versus technical backgrounds.
Whether Guangyao Group's expanding capital footprint, including its other deals and the Xiangxue restructuring role, creates synergies or distractions for Da'an Gene.