智通财经APP获悉，2026年世界经济论坛年会（冬季达沃斯论坛）上，诺华公司董事会主席Giovanni Caforio博士宣布一项重要合作：诺华基金会、文莱卫生 部、医渡科技(02158)旗下EVYD公司将联合实施数智驱动的心血管疾病防控项目——CARDIO4Cities。该项目依托由EVYD助力建设的文莱国家数字卫生平 台BruHealth，旨在借助数据与AI工具，实现高危人群的早期识别与精准干预，从而降低心血管疾病及其急性并发症的发生风险，提升文莱居民的心血管健 康管理水平。 这一兼具公共卫生价值与创新意义的合作，已被世界经济论坛官网重点报道。 诺华公司董事会主席Giovanni Caforio博士致辞 在由诺华基金会、诺和诺德及世界心脏病联盟共同举办的"通过合作与人工智能扩大社会影响力创新"达沃斯论坛主题会议上，医渡科技创始人、董事长宫如 璟与飞利浦基金会董事会主席Marnix van Ginneken围绕数字健康与公共卫生体系创新展开对话，诺华基金会负责人 Ann Aerts博士担任主持人。 宫如璟指出，公共卫生的高质量发展是一项系统工程，其关键在于技术创新与跨界协作能否形成持续放大的系统能力。她强调 ...

Core Viewpoint - The long-term goal of medical AI is to build a comprehensive system covering the entire healthcare chain, with the industry still in its early development stage and vast future prospects [1][8]. Company Overview - Founded in 2014, the company has focused on "data intelligence and green healthcare," addressing supply chain and cost issues in the medical field, including aspects like physician time, pharmaceutical R&D, and insurance [2][11]. - The company has processed over 7 billion medical records, gaining valuable practical experience [2][11]. AI Applications and Ecosystem - The company has invested significantly in building an AI application ecosystem, including platforms for hospitals, diagnosis, and a "clinical doctor Copilot," aiming for an integrated architecture of "big data + big models + intelligent agents" [2][11]. - Approximately 70% of doctors in partnered hospitals use their created "intelligent agents" daily for various tasks, including data organization and patient management [3][11]. Drug Development and Insurance - The company assists pharmaceutical companies in new drug development through smart patient recruitment and workflow automation, focusing on AI Contract Research Organizations (CROs) [3][12]. - In the insurance sector, the company has participated in projects like Beijing Puhui Health Insurance and Shenzhen Huimin Insurance, aiming to reduce costs and expand coverage through AI [3][12]. Industry Development Stage - The medical AI industry is currently at a maturity level of "0.01" out of 100, primarily due to incomplete data in the physical world and the need for a deeper understanding of many diseases [4][13]. - The company anticipates exponential growth in the future, transitioning from linear accumulation to explosive growth as foundational work solidifies [4][13]. Global Expansion - The company is expanding its medical AI solutions to Southeast Asia and plans to enter the European market, emphasizing local partnerships due to the localized nature of healthcare [5][14]. - A health app launched in Brunei has reached nearly 90% population coverage, with daily user steps increasing from about 2,000 to 8,000 [5][14]. Industry Challenges and Value Creation - Each niche in the medical AI field presents challenges, requiring ongoing investment and refinement in areas like foundational models and medical knowledge graphs [6][15]. - The ability to create real value for clients is essential for sustainable development in the industry [7][16].

AI助手背后的精准与可靠，源于医渡科技与重医附二院在数据基建与场景深化上的长期合作。此前， 双方已携手建成全院级科研数据平台，并聚焦肝病领域，共同构建高质量的"乙型肝炎专病数据库"。 在此基础上，结合医渡"AI中台"，团队对医疗垂域大模型进行专项训练与场景化调优，并结合RAG机 制确保信息输出的准确、及时。这使得"乙肝治愈AI助手"不仅能回答常见问题，更能理解复杂的医学逻 辑，进行个性化的风险评估与决策支持。 这一能力的有效性与专业性已在临床实际场景中得到验证。此前，医渡科技已推出自主可控的"临床 Copilot"，基于"大数据+大模型+智能体"一体化架构，实现诊疗全流程All in one轻量辅助。其可无缝融 入医生工作站，还允许医生以"乐高式"模块自主配置AI助手，实现AI"能力共创"，并在多家头部医院展 现高采纳率与实用价值。 目前，乙肝治愈AI助手已进行小程序与电脑端系统测试。未来，患者可通过扫码进行预问诊，上传检 验检查报告获取专业解读；系统能根据患者病情精准推荐临床专家，并跳转至医院挂号系统；针对有临 床试验需求的患者，可通过多种形式上传疾病数据，智能匹配适合的临床试验项目。 医渡科技方面表示，" ...

Core Viewpoint - The 56th Annual Meeting of the World Economic Forum will take place from January 19 to January 23 in Davos, Switzerland, focusing on the theme of "the spirit of dialogue" and gathering nearly 3,000 leaders from over 130 countries, including a record number of political leaders and top executives [1]. Group 1: Key Themes and Discussions - The session "Investing in Resilient Health" will explore sustainable health systems, emphasizing how intelligent technology can connect climate risks with health investment decisions to create more resilient and equitable health systems [2]. - The "Health Security Reimagined" session will highlight the integration of AI and big data in public health and drug development, advocating for a proactive approach to health security through global data sharing and collaboration [2]. - The discussion "China's Innovation, Deconstructed" will focus on China's unique path in healthcare technology innovation, examining how large-scale scenario-driven technology iterations and the resonance of policy, market, and technology can provide inclusive and efficient solutions for emerging markets [3]. Group 2: Engagement and Collaboration - During the annual meeting, the founder and chairwoman of Yidu Tech, Gong Rujing, will engage in multidimensional exchanges with global leaders from politics, business, and academia, participating in several national strategic dialogues [4]. - The insights shared by Gong Rujing, based on Chinese practices and a global perspective, are expected to contribute to the spirit of dialogue, fostering consensus and cooperation on key issues such as resilient health, security governance, and inclusive innovation [4].

Summary of Medical Technology Conference Call Company Overview - **Company**: Medical Technology (医渡科技) - **Industry**: AI Healthcare Solutions Key Points Business Segments - **Three Main Business Segments**: 1. **Big Data Platform and Solutions**: Serves hospitals and government clients, includes AI middle platform and various products. Orders are project-based, with amounts ranging from millions to tens of millions [2][6] 2. **AI for Life Science**: Provides support to pharmaceutical companies, with 17 out of the top 20 global pharmaceutical companies as clients. Focuses on reducing R&D cycles and costs [2][6] 3. **i for Care**: Uses AI algorithms to assess health risks, optimizing insurance product design and claims services. Covers 5 provinces and 13 cities, with over 40 million insured individuals [2][6] Financial Performance - **Revenue Growth**: Expected revenue growth of 10%-15% for FY 2026, with the big data platform segment projected to grow by approximately 15% and health management by around 30% [4][12] - **Current Orders**: Approximately 800 million yuan in existing orders, exceeding total revenue for FY 2025. Expected to recognize 30%-40% of revenue from the big data segment and 40%-50% from health management within the next year [4][17] - **Profitability**: Anticipated to achieve breakeven in FY 2026, with a loss of about 15 million yuan reported as of September 30, 2025 [13] Operational Efficiency - **Improved Efficiency**: Significant operational efficiency improvements noted, with adjusted EBITDA and cash flow indicators showing continuous improvement [5] - **Clinical Research Platforms**: Platforms like iDataBase and iReview have increased efficiency by over 8 times and reduced costs by 40% [10] AI Applications - **AI Diagnosis**: Covers 127 top-tier hospitals, with average selling prices (ASP) in the million yuan range. Project-based fees with annual operational fees around 10% [7] - **AI Agents**: Development of various AI agents for cancer diagnosis and aesthetic medicine, significantly improving accuracy and research efficiency [7][10] Future Directions - **Expansion Plans**: Plans to develop more AI agents for different scenarios and collaborate with top principal investigators to replicate successful treatment methods [8][9] - **International Market**: Focus on Southeast Asia and Middle East markets, with a 2-3 year timeline for revenue contribution from new markets [25][26] Data and Technology - **Data Sources**: Data derived from over 10,000 hospitals, covering more than 1.3 billion patient visits, with a focus on high-quality data for rare diseases and cancer [18] - **Algorithm Development**: Core algorithm "易步康" is based on extensive data, enhancing disease understanding and precision [10] Cost Management - **R&D Investment**: Annual R&D spending of 80 million to 100 million yuan, primarily for computational power, with a focus on maintaining reasonable personnel costs [20][21] Market Trends - **Hospital Procurement**: Increased budget for AI construction and medical procurement expected in 2026, driven by policy support [23] - **Health Management Products**: Focus on government-backed health management projects, with plans to enhance C-end services through partnerships [11][24] Gross Margin Outlook - **Margin Improvement**: Expected steady increase in gross margin, primarily from the big data platform and clinical trial segments [28] Overall Outlook - **Positive Future**: The company is well-positioned in the commercialized AI healthcare sector, with ongoing product upgrades and technological advancements expected to drive future growth [29]

Company and Industry Summary Company Overview - **Company Name**: 一路科技 (Yilu Technology) - **Industry**: AI in Healthcare Key Points Industry and Company Insights - The company has developed a disease knowledge graph covering all known diseases, with a specialized database encompassing over 98 fields, including 21 types of cancer [2][3] - The medical knowledge graph contains over 100,000 entities, and the model's hallucination rate is controlled at a very low level, achieving algorithmic accuracy at the level of chief physicians [2][4] Financial Performance - In 2025, the big data platform and life sciences solutions segments saw new orders grow by 20% and 60% year-on-year, respectively, with total orders on hand nearing 400 million yuan [2][5] - Adjusted EBITDA for the first half of the 2026 fiscal year doubled, with losses narrowing by 72%, and the company expects to achieve breakeven by the end of the 2026 fiscal year [2][5] Product Development and Strategy - The company has layered its AI products to meet the needs of different levels of hospitals, including AI platforms, AI Copilot, and AI Agent, utilizing a no-code toolchain for ease of use [2][6] - The self-built MedRec architecture allows for the identification of medical corpus and generation of disease treatment processes, ensuring high-quality data acquisition [2][8] Market Expansion and Partnerships - The company is involved in the Beijing Chinese-style base project and plans to expand to other provinces such as Shanghai, Guangdong, and Zhejiang [2][7] - Collaborations with major companies like Huawei focus on integrating hardware and software solutions, with a strong emphasis on maintaining a competitive edge through proprietary technology [2][13] Research and Development - Continuous investment in R&D is a priority, with the company leveraging its unique MedRec architecture to maintain a technological lead over competitors [2][11] - The company supports over 3,000 research projects and has published more than 500 high-level papers, showcasing its commitment to advancing medical research [2][11] Challenges and Solutions - To address limited payment capabilities in the healthcare sector, the company is transforming products into necessities and expanding payment scenarios through insurance reimbursements [2][10] - A flexible pricing strategy for AI Copilot products caters to hospitals with varying budgets, enhancing the likelihood of future purchases [2][10] Future Outlook - The management anticipates achieving breakeven in 2026 and is considering dividend distributions post-profitability, alongside ongoing share buybacks [2][20] - The company is optimistic about future growth, with plans to launch new products and explore mergers and acquisitions to enhance business capabilities [2][22] Accounts Receivable Management - Accounts receivable primarily come from large hospitals, with an average aging of 1 to 1.5 years, and the company is implementing measures to manage these effectively [2][21] This summary encapsulates the key insights from the conference call, highlighting the company's strategic positioning, financial performance, product development, and future growth prospects in the AI healthcare industry.

Group 1 - The Hong Kong stock market for AI healthcare concept stocks has strengthened again, with notable increases in share prices for several companies [1] - Alibaba Health (00241.HK) saw a significant rise of 18.81%, reaching HKD 7.77 [1] - Weigao Robot-B (02252.HK) increased by 7.7%, trading at HKD 28.24 [1] - Yidu Tech (02158.HK) rose by 6.06%, with shares priced at HKD 6.83 [1] - Ping An Good Doctor (01833.HK) experienced a 5.9% increase, reaching HKD 18.6 [1] - JD Health (06618.HK) saw a rise of 4.08%, with shares priced at HKD 70.15 [1]

Group 1 - AI healthcare concept stocks have strengthened, with notable increases in share prices for companies such as Alibaba Health (+18.81%), MicroPort Scientific (+7.7%), Yidu Tech (+6.06%), Ping An Good Doctor (+5.9%), and JD Health (+4.08%) [1] - NVIDIA and Eli Lilly announced a joint investment of $1 billion to establish an AI drug development lab in San Francisco, aimed at accelerating drug development processes [1] - NVIDIA has previously invested in biotechnology company Recursion and established partnerships with leading firms in the healthcare sector, including Novo Nordisk and Mayo Clinic [1] Group 2 - Citic Securities believes that AI in healthcare will accelerate the restructuring of the trillion-dollar pharmaceutical market, with a fundamental change in the logic of AI healthcare expected by 2026 [2] - The core of this change is that the payers for AI healthcare have become clearer and more powerful this year, indicating a stronger certainty for commercialization in 2026 [2]

Group 1 - The core viewpoint of the article highlights the strong performance of AI healthcare stocks in the Hong Kong market, driven by clear industry trends and significant demand for health AI solutions [1] - Alibaba Health led the surge with a rise of over 13%, accumulating a monthly increase of over 46%, while other companies like Yidu Tech and MicroPort Robotics also saw substantial gains [1] - The launch of Ant Group's AI health assistant "Ant Aifu," which quickly surpassed 30 million monthly active users and received over 10 million daily inquiries, underscores the massive demand and market potential for health AI [1] Group 2 - OpenAI's introduction of "ChatGPT Health" on January 8 further indicates that leading AI companies are optimistic and heavily investing in the health AI sector [1] - Frost & Sullivan predicts that China's "AI + healthcare" market will grow from 8.8 billion yuan in 2023 to 315.7 billion yuan by 2033, with a compound annual growth rate of 43.1% over the next decade [1] - Huafu Securities' latest report states that the AI healthcare industry has entered a critical phase of commercialization, supported by national strategies and market demand [1]

Group 1 - The Hang Seng Index rose by 0.92%, gaining 245 points to reach 27,094 points, while the Hang Seng Tech Index increased by 1.54% [1] - Zhipu Technology (02513) surged over 16% after launching the first domestic chip training multimodal SOTA model in collaboration with Huawei [1] - Alibaba (09988) saw a rise of over 5% as it announced a significant increase in capital expenditure for Alibaba Cloud, with expectations of resilient profitability [1] - Alibaba Health (00241) increased by over 15% after the exclusive launch of Beimei Jing® and receiving the first overseas drug price certification [1] - Yidu Tech (02158) rose over 9% after winning first place in a smart healthcare innovation competition, showcasing its strong AI capabilities [1] - Tongdao Recruitment (06100) jumped over 10% due to market reassessment of its AI strategy and solid financials [1] - Baiaosaitu-B (02315) increased by over 6% after localizing its AI-driven antibody drug development platform [1] - Maifushi (02556) rose over 8%, with its stock price nearly doubling in three weeks after launching the GEO intelligent assistant [1] - MicroPort Scientific-B (02252) increased by over 8%, as the surgical robot industry is expected to enter a commercialization and policy acceleration phase [1] Group 2 - Hua Hong Semiconductor (01347) rose over 5% as Goldman Sachs noted that high capacity utilization supports product mix optimization and price increases [2] - Restaurant stocks led the gains, with expectations that most leading restaurant brands will see a recovery in customer traffic, leading to more rational competition [2] - Haidilao (06862) increased by 7%, while Jiumaojiu (09922) rose by over 5% [2] - Qiutai Technology (01478) surged by 13% after announcing a profit warning, projecting a 400% to 450% year-on-year increase in comprehensive profit for 2025 [2]