Brief overview of the valuation methodology

For investee companies established within one year prior to the valuation date and with no interim progress achieved on their projects, and in the absence of significant matters affecting value (either upward or downward), the initial losses incurred—attributable to preliminary expenses—are considered temporary and do not reflect the enterprise’s underlying value. Accordingly, the investment value is confirmed based on the original amount paid: Suzhou Fund’s equity stake in Xingsairuizhen is valued at RMB 13.34 million, and Tianjin Fund’s equity stake in Xingsairuizhen is valued at RMB 6.66 million. (II) Example of Valuation Using the Market Multiple Approach Example: Suzhou Xingaotuowei Biotechnology Co., Ltd. (hereinafter “Xingaotuowei”) Xingaotuowei was founded in January 2022. Its hereditary deafness therapeutic product OTOV-101 is scheduled to enter Phase I clinical trials in Q3 2023 and is backed by proprietary intellectual property. 1. Selection of Valuation Method The fund company holds only a minority equity stake in the subject enterprise, and cooperation from the underlying asset enterprise is limited. Based on the information already obtained by the valuation team, for investments held for over one year as of the valuation date—and where no new financing from independent third parties (outside existing shareholders) or equity transfers to independent third parties (unaffiliated with original shareholders) have occurred within the past six months—the valuation is performed using industry-average multiples applied to relevant project parameters. Hence, the market multiple approach is adopted. Given the scarcity of publicly traded comparable transactions involving enterprises of similar size or at a comparable stage of R&D, while actively traded listed companies operating in the same industry are available in the securities market, this valuation utilizes industry data from listed pharmaceutical manufacturing companies, together with statistics on pharmaceutical R&D success rates published by international research institutions. These two datasets jointly serve as the foundation for calculation. Therefore, the market approach employed herein is the Listed Company Comparison Method.

Huaying Morning News | Q2 Earnings Season Kicks Off! U.S. Stocks Rose Over 2% Last Week; Hong Kong Stock Market Suspended Today Due to Typhoon 'Talim'

This week, several major companies—including Tesla and Netflix—will release their earnings reports. On Friday, major Chinese概念股 (Chinese ADRs) broadly declined: the Nasdaq Golden Dragon China Index fell 2.17%, yet posted a weekly gain of 6.64%. Tuesday (July 18): Bank of America, Morgan Stanley, and Charles Schwab will release earnings before U.S. market open. Wednesday: ASML, Goldman Sachs, and UBS Group will report earnings before U.S. market open; Tesla, Netflix, and Zions Bancorporation will report after U.S. market close. Thursday: TSMC will release earnings before U.S. market open. Hong Kong Stock Market Suspended Due to Typhoon 'Talim' The Hang Seng Index rose 0.33% on last Friday, gaining over 1,000 points for the week. Auto parts stocks stood out: Zhejiang Shibo (01057.HK) surged over 40% for the week and more than 74% month-to-date; Nexteer Automotive (01316.HK) rose over 17% for the week and over 30% month-to-date; newly listed Yaoshi Bang (09885.HK) gained over 36% for the week—analysts suggest it may be included in the Stock Connect program by early September. Benefiting from hot weather, Dongyue Group (00189.HK), a leading refrigerant manufacturer, rose over 23% for the week. This week, China Evergrande and Kingboard Holdings will announce their earnings. Due to Typhoon 'Talim', the Hong Kong Exchanges and Clearing (HKEX) has suspended trading for all Hong Kong equities—including Stock Connect—and derivatives markets for the entire day. New Listings in Hong Kong and U.S. Markets Hong Kong: 1) Xin Chuan Planning (01284.HK) had originally planned its listing today, but trading was suspended due to the typhoon. Its Hong Kong public offering was oversubscribed 44.2 times. During Friday’s dark pool trading, some brokers quoted prices up 19%; it closed up 2.17%, generating a profit of HK$100 per board lot. 2) Zhong’an Smart Living (02271.HK) announced issuance of approximately 127 million shares at HK$1.18 per share, with a board lot size of 2,000 shares. The public offering was oversubscribed 1.84 times, with a 50% allotment rate for one board lot. Listing is expected on July 18. U.S. Markets: 1) Among three IPOs that successfully listed last Friday, Apogee Therapeutics (APGE)—a biotech firm focused on inflammatory diseases—performed strongest, surging over 28% intraday and closing up 24.88% at USD 21.23, with a market capitalization exceeding USD 1 billion. Nabors Energy Transition Corp. II (NETDU), a special purpose acquisition company (SPAC), closed up 1.1%. Sagimet Biosciences Inc. (SGMT), a biotech firm developing therapies for liver disease and cancer, edged down 0.31%. 2) BioNexus Gene Lab Corp. (BGLC), a supplier of raw materials and blood testing services, is scheduled to list tonight. Additionally, ODD, SRM, WRNT, and FTEL are among several other companies expected to go public later this week. Disclaimer: This article does not constitute any investment advice, nor is it tailored to the specific investment objectives, financial situation, or individual needs of any particular investor.

BioNexus Gene Lab Corp (BGLC) Valuation: PE, PB & Fair Value Analysis

Jul 25, 2026

BioNexus Gene Lab Corp (BGLC) holds a valuation score of 8.43, ranking 138th in the Biotechnology & Medical Research sector. Its P/E ratio is currently -1.02, though P/B, P/S, and P/CF data remain undisclosed.

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BioNexus Gene Lab Corp Announces 10-to-1 Merger Stock Split