Daughter and Son-in-Law Propose Ousting Mother as Chairwoman of Chinese Orthobiologics Leader Allgens Medical

Jul 09, 2026 17:48 CST Updated 17:48

Allgens Medical

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On July 8, Allgens Medical issued an announcement,

It is understood that,Cui Han,Hu Gang and his spouse are married.Huang Wanlan is Cui Han’s biological mother, and the three are all actual controllers of the company. The late Cui Fuzhai, as the former core figure of the company, wasHuang Wanlan's husband and Cui Han's father.

On June 23 this year, Allgens Medical just completed theThe procedures for the inheritance and transfer of shares held by Cui Fuzhai. And more than ten days later,Cui Han and Spouse Jointly Propose to Remove MotherHuang Wanlan'sThe position of chairman, and the infighting within the actual controller's family of this leading bone repair company, has also been exposed to the public.

Daughter and Son-in-Law Propose to Remove the Chairman

Third-Generation Actual Controllers Completely Split

In response to this sudden incident,Allgens Medical responded that the conflict was a private family dispute, and the company’s daily production, supply, and clinical promotion were operating normally.

According to records, when the predecessor of Allgens Medical was established in 2004, Huang Wanlan acquired a 60% equity stake by contributing her independently developed medical stent technology as capital, while Hu Gang held the remaining 40% through cash investment.

In 2017, the family signed a concerted action agreement, stipulating that in the event of disagreements on major decisions, Huang Wanlan’s opinion would prevail, thereby maintaining long-term family control; in 2021, Allgens Medical listed on the STAR Market, with Hu Gang serving as the inaugural chairman, establishing a stable framework of joint family governance.

However, by 2025, with the death of Allgens Medical’s key figure, Cui Fuzhai, due to illness, his nearly 4.9% equity stake entered into estate division.In November of the same year, Hu Gang was not nominated as a director during the board of directors' re-election.Huang Wanlan assumes the role of Chairman, while Cui Han retains only her position as an employee director.Due to the complete transfer of operational and management rights,Contradictions subsequently erupted.

On June 23, 2026, the transfer of Cui Fuzhai’s inherited shares was completed, with Huang Wanlan and Cui Han each receiving an equal number of shares. Following the change in inheritance,The number of shares held by Huang Wanlan was adjusted to 7,574,498 shares, representing a shareholding ratio of 5.53%; the number of shares held by Cui Han was adjusted to 2,524,832 shares, representing a shareholding ratio of 1.84%.

Therefore, in view of the upcoming extraordinary general meeting, the two parties are evenly matched in terms of voting power. Cui Han and Hu Gang collectively hold a direct shareholding of 8.76%;Huang Wanlan directly holds 5.53% of the shares and, as the executive partner of the employee stock ownership platform, additionally controls the voting rights corresponding to 5.66% of the shares., the overall ability to mobilize votes is more advantageous, and there is great uncertainty as to whether the recall motion will pass.

Deepening Expertise in the Biomimetic Artificial Bone Sector

Allgens Medical has just emerged from the loss-making range in the past two years.

Public information indicates that Allgens Medical is one of the few medical device companies in China that has mastered the core technology of biomimetic mineralized collagen, with its main business focusing on implantable consumables for tissue regeneration and repair.Specializing in biodegradable synthetic bone repair materials, with products tailored for three major clinical applications: orthopedics, neurosurgery, and dentistry., belonging to the high-value medical consumables sector.

Allgens Medical’s core technology is its independently developed in vitro biomimetic mineralization process, which produces artificial bone with composition and microstructure closely resembling natural human bone. After implantation, it gradually degrades while inducing regeneration of the patient’s own bone tissue, offering significant clinical advantages over traditional bone repair materials.

Leveraging this technological platform, Allgens Medical has developed three flagship products: “Gejin” for orthopedics, “Lurui” for neurosurgery, and “Chibei” for dental restoration. All have obtained Class II medical device registration certificates in China, with the orthopedic product also securing FDA clearance in the United States, thereby establishing a foundation for international expansion. As of now,Allgens Medical's products are in clinical use at over 2,000 Grade A tertiary hospitals across China, with a cumulative total of more than one million surgical cases.

Based on the financial performance over the past two years,Allgens Medical has just emerged from loss-making territory, with an unstable profit foundation. Therefore, its family disputes, compounded by the pressure of industry-wide centralized procurement, will further amplify operational risks.

Data shows that,In 2025, Allgens Medical achievedRMB 224 million in revenue,Year-on-year increase of 8.59%;Net profit attributable to shareholders of the parent company amounted to RMB 13.8392 million, marking a turnaround from the RMB 12.66 million loss in 2024, with an increase of over 200%.

In the first quarter of 2026, performance showed a slight rebound, with revenue reaching RMB 48.6799 million, a year-on-year increase of 14.65%; net profit attributable to shareholders of the parent company amounted to RMB 1.411 million, a year-on-year rise of 35.47%. However, net profit after deducting non-recurring gains and losses remained at a loss of RMB 1.2758 million, indicating no fundamental improvement in the profit structure, as profitability continues to rely on gains from changes in the fair value of financial assets.

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Overall, Allgens Medical is currently at a critical stage of performance recovery, new product promotion, and overseas market expansion. The R&D cycle for new medical devices typically spans three to five years, and clinical academic promotion requires sustained, long-term investment. However, with the controlling shareholders now in conflict, medium- to long-term plans—including R&D project initiation, market launch, and overseas registration—risk being stalled.

Some analyses suggest that,Once core founder Huang Wanlan exits the management team, the source of the biomimetic mineralization technology on which Allgens Medical relies for its survival will face uncertainty, making it highly vulnerable to losing its first-mover advantage during the critical window for domestic substitution in the industry.Therefore, the upcoming meetingThe extraordinary general meeting will not only determine the incumbent of the chairman position but also directly influence the capital market’s assessment of the company’s long-term value. In this regard, MedTech Home will continue to monitor the situation closely.

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