来源：市场资讯 1、关于公司续聘会计师事务所的议案 2、关于预计2026年向银行申请综合授信额度的议案。 锦好医疗发布公告，将于2025年12月31日召开第4次临时股东大会，网络投票日为12月30日。股权登记 日为12月25日，当日收市后持有锦好医疗股票的投资者可以参与投票。 会议地点：惠州市仲恺高新区四环南路(惠环段)207号锦好智慧医疗产业园1楼会议室。 本次股东大会共计审议2项议案，具体如下： ...

Group 1 - The core point of the article is that JinHao Medical announced a plan for a shareholder, JinTongSheng, to reduce its holdings by up to 500,000 shares, which represents 0.5078% of the company's total share capital, within three months through centralized bidding or block trading [1] - The shares to be reduced were acquired before the company was listed on the Beijing Stock Exchange [1] - The reason for the reduction in shares is stated as the need for operational development [1]

Core Viewpoint - JinHao Medical is a leading enterprise in the hearing health sector, achieving rapid growth through continuous technological innovation, global market expansion, and a commitment to deep industry engagement, aiming to become the world's top hearing aid brand and provide better hearing solutions for the hearing impaired globally [1]. Technological Foundation - The hearing aid industry is interdisciplinary, integrating audiology, acoustics, electronics, and psychology. JinHao Medical has significantly increased R&D investment, achieving breakthroughs in chip design, algorithm development, and product miniaturization, including low-power digital hearing aid chips and AI speech enhancement algorithms [3][4]. - The company has a clear path to catch up with international giants, focusing on enhancing its algorithm development depth and clinical trial richness, with a strategy of "ALL in AI" to leverage AI for rapid advancement in the Chinese hearing aid industry [3][4]. Global Market Expansion - The aging population and increased health awareness are driving the hearing aid market's growth in China, with the market size increasing from 2.84 billion to 5.51 billion CNY from 2015 to 2019, reflecting a CAGR of 18.02%. JinHao Medical aims to expand its market share through a comprehensive market expansion strategy [7]. - The company has established online stores on platforms like JD.com and Tmall, and is building a retail network combining direct sales and distribution. Internationally, it has gained certifications from the FDA and EU, allowing entry into major retail chains [7][8]. Product and Brand Strategy - JinHao Medical is focusing on product differentiation across various price segments, leveraging its technological advantages to create a competitive edge for its own brand while avoiding direct competition with ODM clients [8]. - The company is enhancing its brand image by ensuring product quality and implementing a dual-brand strategy targeting both over-the-counter and professional medical-grade products for different levels of hearing loss [10]. Future Development and Integration - JinHao Medical plans to extend its business along the hearing aid industry chain through both organic growth and acquisitions, aiming to integrate upstream components like chips and algorithms, and downstream retail channels to enhance its industry influence and competitiveness [11].

Core Viewpoint - JinHao Medical is a leading enterprise in the hearing health sector, achieving rapid growth through continuous technological innovation and global market expansion, with a mission to become the world's most trusted medical device brand and the number one brand in the hearing aid industry [1] Technological Advancements - The company emphasizes the importance of core technology, investing heavily in R&D to achieve breakthroughs in chip design, algorithm development, and product miniaturization, including the successful development of low-power digital hearing aid chips and AI speech enhancement algorithms [2][4] - JinHao Medical is focusing on AI hearing aid algorithms to enhance user experience by improving speech clarity in noisy environments and utilizing clinical data for intelligent fitting and adjustment through apps and remote services [3] Global Market Expansion - The hearing aid market in China has grown from 2.84 billion to 5.51 billion yuan from 2015 to 2019, with a CAGR of 18.02%, indicating significant growth potential for JinHao Medical's market strategies [5] - The company is expanding its market presence through online platforms like JD and Tmall, as well as establishing retail networks and leveraging international certifications to enter global markets [5][6] Brand Development and Positioning - JinHao Medical is focusing on building its own brand while maintaining ODM relationships, ensuring differentiated product designs and avoiding direct competition [6][7] - The company aims to enhance its brand image by controlling product quality and establishing a reputation for high-quality, reliable, and cost-effective products [7] Future Growth Strategy - JinHao Medical plans to extend its business along the hearing aid industry chain through internal growth and external acquisitions, targeting core components and retail channels to strengthen its market position [8]

Core Viewpoint - JinHao Medical is positioned as a leading enterprise in the hearing health sector, focusing on technological innovation and global market expansion to achieve rapid growth and break overseas monopolies [1] Group 1: Technological Advancements - The company emphasizes the importance of core technology and has increased R&D investment, achieving breakthroughs in chip design, algorithm development, and product miniaturization [2] - JinHao Medical is concentrating on AI hearing aid algorithms to enhance user experience, improving speech enhancement in noisy environments and enabling smart fitting and adjustment through apps and remote services [3] - The company has developed several core technologies in self-researched chips, including low-power audio signal conversion and noise enhancement algorithms, and is optimizing the next generation of AI hearing aid chips [4] Group 2: Market Expansion - The hearing aid market in China has shown significant growth, with a CAGR of 18.02% from 2015 to 2019, and JinHao Medical aims to expand its market share through a comprehensive market strategy [5] - The company has established online stores on platforms like JD and Tmall, and is building a retail network combining direct sales and distribution [5] - JinHao Medical is leveraging global certifications to enter international markets, including partnerships with major retailers in the U.S. and establishing subsidiaries in Southeast Asia [5] Group 3: Brand Development - JinHao Medical has made significant strides in developing its own brand, focusing on product differentiation and a full-channel strategy to achieve simultaneous domestic and international market growth [6] - The company is enhancing its brand image by controlling product quality and establishing a differentiated brand identity, targeting both OTC and professional medical-grade products [7] - The company is committed to building a robust talent system to support long-term development, focusing on attracting skilled professionals to enhance R&D and product innovation [7] Group 4: Future Strategy - JinHao Medical plans to extend its business along the hearing aid industry chain through internal growth and external acquisitions, aiming to integrate upstream and downstream resources [8] - The company will focus on acquiring core components and technologies related to hearing aids, as well as retail channels and established brands, to enhance its industry influence and competitiveness [8]

Core Insights - JinHao Medical is a leading enterprise in the hearing health sector, achieving rapid growth through continuous technological innovation and a global market strategy, aiming to become the world's top hearing aid brand [1][5] Technological Advancements - The company emphasizes the importance of core technology, investing heavily in R&D to achieve breakthroughs in chip design, algorithms, and product miniaturization, successfully developing low-power digital hearing aid chips and AI-enhanced algorithms [1][3] - JinHao Medical is focusing on AI technology to enhance user experience, improving speech recognition in noisy environments and enabling smart fitting and adjustment through apps and remote services [2][3] Market Expansion Strategy - The hearing aid market in China has shown significant growth, with a CAGR of 18.02% from 2015 to 2019, and JinHao Medical aims to capture a larger market share through a comprehensive global expansion strategy [4] - The company is establishing a retail network both online and offline, leveraging platforms like JD.com and Tmall in China, and entering international markets through partnerships with major retailers like Walmart and CVS [4][5] Brand Development - JinHao Medical is transitioning from an ODM model to building its own brand, focusing on product differentiation and a dual-channel strategy to cater to both OTC and professional healthcare markets [5][6] - The company is committed to maintaining high product quality and a strong brand image, positioning itself as a reliable and cost-effective choice for consumers [6] Future Growth Plans - JinHao Medical plans to extend its business along the hearing aid industry chain through both organic growth and acquisitions, targeting key components and retail channels to enhance its competitive edge [6]

Core Viewpoint - The company, Jinhao Medical, has reported a stock price increase and has made a significant decision regarding the use of idle funds for investment in bank financial products, reflecting a strategic move to optimize asset management [1]. Group 1: Stock Performance - As of November 25, 2025, Jinhao Medical's stock closed at 31.13 yuan, marking a 0.81% increase from the previous trading day [1]. - The stock opened at 31.03 yuan, reached a high of 31.88 yuan, and a low of 30.81 yuan, with a trading volume of 20.1052 million yuan and a turnover rate of 1.16% [1]. Group 2: Shareholder Meeting - On November 20, 2025, Jinhao Medical held its third extraordinary general meeting of shareholders, where a proposal to use part of the idle self-owned funds to purchase bank financial products was approved [1]. - The meeting was attended by 5 shareholders, representing 61.0135% of the total voting shares, with 100% of the votes in favor and no opposition or abstentions [1]. - Guangdong Dongfang Kunlun (Dongguan) Law Firm witnessed the meeting and issued a legal opinion confirming the legality and compliance of the meeting's procedures and resolutions [1].

Core Insights - The company JinHao Medical (920925) saw a stock price increase of 3.33%, closing at 35.70 CNY per share on November 4 [1] - The company specializes in the research, production, and sales of rehabilitation and home medical devices, including hearing aids, nebulizers, and anti-decubitus air cushions [1] - China is the second-largest rehabilitation medical device market globally, projected to capture 25% of the global market share by 2025, with significant growth potential due to low per capita device ownership compared to developed countries [1] Industry Overview - The rehabilitation and home medical device market is experiencing explosive growth driven by aging populations, technological advancements, and supportive policies, with three key segments: smart rehabilitation devices, home health monitoring systems, and health data services [2] - The market size for home health monitoring devices alone is expected to reach 60 billion CNY by 2025, with wearable devices accounting for over 60% of this segment [2] - The combined market size for core home-related segments is projected to reach 170 billion CNY, with annual growth rates generally exceeding 20% [2] - The rehabilitation medical device and home medical device sectors are in a rapid expansion phase, benefiting from multiple factors including accelerated aging, high prevalence of chronic diseases, increased health awareness, policy support, and technological innovation [2] Company Performance - JinHao Medical reported a revenue of 195.7 million CNY for the third quarter of 2025, representing a year-on-year increase of 82.44%, while net profit reached 17.63 million CNY, up 565.54% year-on-year [2]

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook based on expected performance relative to market benchmarks [6][9]. Core Insights - The company reported significant growth in revenue and net profit for the first three quarters of 2025, with revenue reaching 196 million yuan, a year-on-year increase of 82.44%, and net profit of 17.63 million yuan, up 565.54% [3][6]. - The growth is attributed to a recovery in the overseas market, particularly in the United States, alongside the expansion of ODM and proprietary brand businesses [6][7]. - The report highlights the company's successful entry into new markets, including Canada and Southeast Asia, and the expansion of its product certifications in the European market [6][7]. Financial Performance Summary - For the first three quarters of 2025, the company achieved a gross margin of 42.57%, a decrease of 5.27 percentage points year-on-year, while the net margin improved to 8.29%, an increase of 13.38 percentage points [6][7]. - The projected revenue for 2025 is 236.60 million yuan, with expected growth rates of 27.15% for 2025, 31.80% for 2026, and 21.02% for 2027 [5][7]. - The forecasted net profit for 2025 is 20.95 million yuan, with a substantial growth rate of 250.50% [7]. Market Position and Strategy - The company is focusing on optimizing its asset structure and improving cost control, which is expected to enhance net profit margins in the future [6][7]. - The report emphasizes the importance of the company's proprietary brand and chip business in driving future growth and improving gross margins [6][7]. - The company has successfully expanded its product offerings and certifications, which is anticipated to positively impact its market presence and revenue streams [6][7].

Core Insights - JinHao Medical (920925.BJ) reported its Q3 2025 results on October 29, 2025, with a total of 9 institutional investors holding 23.7976 million A-shares, representing 24.17% of the total share capital [1] - The institutional holding ratio increased by 0.34 percentage points compared to the previous quarter [1] - One new public fund, Xinghua Jingcheng Mixed A, was disclosed this period, while two public funds were not disclosed compared to the previous quarter [1] Institutional Holdings - The total number of institutional investors holding shares in JinHao Medical is 9, with a combined holding of 23.7976 million shares [1] - The institutional investors include Huizhou Jintongchuang Investment Co., Ltd., Huizhou Jintongsheng Investment Partnership, and several private equity funds managed by Zhongtou Dinghong [1] - The increase in institutional holding ratio indicates growing confidence among institutional investors [1] Public Fund Activity - One new public fund was disclosed this quarter, which is Xinghua Jingcheng Mixed A [1] - Two public funds, namely E Fund North Exchange Selected Two-Year Open Mixed A and CITIC Securities Vision Return A, were not disclosed this quarter [1] Foreign Investment Trends - One foreign fund, Bole Far East Limited, reduced its holdings by 1.27% compared to the previous quarter [2]