Recently, Yongxin Optics disclosed that the company, along with its affiliates, plans to jointly purchase a 22.5% stake in Ningbo Jiangfeng Biotechnology Information Technology Co., Ltd. for RMB 180 million. This acquisition corresponds to an overall valuation of RMB 800 million for Jiangfeng Biotechnology. Specifically, Yongxin Optics will acquire a 20% stake for RMB 160 million, while its affiliate, Dongyuan Venture Capital, will acquire the remaining 2.5% stake for RMB 20 million.

This transaction underscores the 'setback' of Nanjing Pharmaceutical's investment plans. Originally, Nanjing Pharmaceutical intended to acquire an equivalent stake for nearly RMB 120 million, valuing Jiangfeng Biotechnology at RMB 750 million. However, due to Yongxin Optics' higher valuation and Jiangfeng Biotechnology's failure to confirm the deal by the deadline, Nanjing Pharmaceutical's investment was officially called off on May 19.

The approximately RMB 50 million valuation disparity between the two potential investors highlights significant shifts in the market's pricing rationale for digital pathology assets.

From an industry standpoint, Yongxin Optics' triumph goes well beyond its pricing edge. As a premier domestic optical microscope enterprise, Yongxin Optics has been steadily bolstering its strategic presence in medical optics in recent years. Guided by its '2+2' business strategy, the company has aggressively ventured into LiDAR and medical optics sectors while maintaining its stronghold in optical microscopes and barcode machine vision. It aims to drive import substitution by targeting mid-to-high-end foreign products.

At present, Yongxin Optics has earmarked medical optics as a burgeoning strategic business. It has made technological strides in key optical components for surgical microscopes and developed several high-end medical devices for pathological diagnosis.

Industry experts opine that the deal between Yongxin Optics and Jiangfeng Biotechnology essentially signifies the fusion of the 'eyes' and 'brain' of digital pathology. Jiangfeng Biotechnology's digital pathology slide scanner is, at its core, a precision optical device. Yongxin Optics' proficiency in optical design and precision manufacturing can directly bolster the ongoing innovation and performance enhancements of Jiangfeng Biotechnology's core products. This profound 'technological synergy' far transcends mere channel empowerment.