Financial Performance - Total revenue for the year ended December 31, 2025, was RMB 233.27 million, a decrease of 22% compared to RMB 299.11 million in 2024[3] - Gross profit for the same period was RMB 123.61 million, down from RMB 136.22 million in 2024, reflecting a gross margin improvement despite revenue decline[3] - The operating loss narrowed to RMB 214.08 million from RMB 230.97 million year-on-year, indicating improved cost management[3] - The net asset value decreased to RMB 934.67 million from RMB 1,141.82 million in 2024, reflecting the impact of operational losses[3] - The company reported a total comprehensive loss of RMB 208.40 million for 2025, an improvement from RMB 256.29 million in 2024[54] - The company reported a significant increase in depreciation and amortization expenses to RMB 48,362,000 in 2025 from RMB 35,777,000 in 2024, an increase of 35.1%[75] - The company reported a total loss before tax of RMB 227,193,000 in 2025, compared to a loss of RMB 240,337,000 in 2024, showing an improvement of 5.4%[70] - The basic loss per share for 2025 was RMB 223,455,000, compared to RMB 237,029,000 in 2024, showing a decrease of about 6%[81] Product Development and Innovation - The company achieved significant progress in product registration and localization, with the Geri® embryo incubator receiving key registration in China, facilitating market entry[5] - The Gems® product line achieved critical registration breakthroughs in China, enhancing the revenue potential for embryo culture media[5] - The new generation PGT-A kit has received Class III medical device registration from the National Medical Products Administration, marking a key step in the integration of "reagents + instruments + software" for domestic production[13] - The PGT-M kit is part of the national key research and development plan and is designed to detect single-gene genetic defects, covering common diseases such as thalassemia and hereditary tumors[17] - The PGT-SR kit utilizes proprietary ReTSeq technology for targeted capture sequencing of key genomic regions, aiming to provide a standardized and scalable clinical solution[18] - The company has completed clinical trials for the PGT-M kit and anticipates obtaining registration approval from the National Medical Products Administration by 2026[17] - The company has registered 168 patents and 134 trademarks in China as of December 31, 2025, indicating a strong intellectual property portfolio[38] Strategic Focus and Market Expansion - The company is focusing on three strategic areas: strengthening genetic testing, developing embryo business as a core growth engine, and enhancing platform products like cryopreservation and male testing[6] - The company aims to transition from a "platform layout phase" to a "platform realization phase," enhancing its global competitiveness in assisted reproductive technology[7] - Cash flow and profit contributions are expected to improve as the embryo business line enters a growth phase, supported by genetic testing as a cash flow base[7] - Market expansion efforts are underway, with plans to enter F new markets by the end of the fiscal year[8] - Future strategies include solidifying the market leadership in genetic testing, accelerating the commercialization of the embryo business in China, and enhancing local manufacturing capabilities to improve delivery efficiency and cost control[48][49] - The company plans to focus on high-quality growth in overseas markets, leveraging existing brand and installation bases to penetrate key regions with high customer foundations and commercial efficiency[51] Customer Engagement and Satisfaction - Customer satisfaction ratings improved, with a score of G%, reflecting the effectiveness of recent service enhancements[8] - The company aims to enhance customer value rather than just increasing the number of hospitals, focusing on improving output and revenue quality from existing clients[40] - The overall commercialization focus in China has shifted to enhancing single customer value, promoting collaborative introduction of genetic, embryo, and other products within the same customer base[41] Cost Management and Efficiency - The company has implemented cost-cutting measures, aiming to reduce expenses by H% over the next year[8] - Research and development expenses decreased to RMB 106.42 million in 2025 from RMB 135.26 million in 2024, reflecting a focus on efficiency[53] - Administrative expenses decreased by 26.2% from RMB 164.7 million in 2024 to RMB 121.5 million in 2025, attributed to optimized management structure and improved resource integration[102] Future Outlook - Future outlook remains positive, with management expressing confidence in achieving long-term growth targets[8] - The company expects revenue growth of 10-12% for the next quarter, with a projected revenue of $1.65 billion[9] - The company plans to implement a new digital marketing strategy, aiming for a 30% increase in online sales[9] - The company aims to increase its production capacity by 40% to meet rising demand for its core products[150]

Suzhou Basecare Medical Corporation Limited 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 蘇 州 貝 康 醫 療 股 份 有 限 公 司 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：2170） 董事會會議通告 截至本公告日期，董事會由執行董事梁波博士、孔令印先生及姜雋超女士；非執行董事趙業 先生及王偉鵬先生；以及獨立非執行董事康熙雄博士、林兆榮先生及楊樹標博士組成。 蘇州貝康醫療股份有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈， 董事會會議將於2026年3月30日（星期一）舉行，藉以（其中包括）考慮及批准本 公司及其附屬公司截至2025年12月31日止年度業績及其發佈，並考慮建議派發 末期股息（如有）。 承董事會命 蘇州貝康醫療股份有限公司 董事長兼總經理 梁波博士 中國蘇州市，2026年3月18日 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 Suzhou Basecare Medical Corporation Limited 蘇 州 貝 康 醫 療 股 份 有 限 公 司 本公告由蘇州貝康醫療股份有限公司（「本公司」，連同其子公司統稱「本集團」） 自願刊發，以告知本公司股東及潛在投資者有關本集團業務的最新發展。 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：2170） 自願公告 PGT-A試劑盒獲國家藥監局頒發醫療器械註冊證 本公司董事會（「董事會」）欣然宣佈，本公司基於國產高通量基因測序平台的 PGT-A試劑盒，胚胎植入前染色體非整倍體檢測試劑盒（聯合探針錨定聚合測 序法），於2026年3月13日成功獲批國家三類醫療器械註冊證（註冊證號：國械 註準20263400529），成為全國首個基於純國產自主平台測序儀的PGT-A試劑盒。 此試劑盒適用於35歲及以上試管嬰兒患者、染色體異常夫婦、三 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 蘇州貝康醫療股份有限公司 呈交日期: 2026年3月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02170 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 82,713,835 | RMB | | 1 RMB | | 82,713,835 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 82,713,835 | RMB | | 1 RMB | | 82,713,835 | | 2. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) ...

Core Viewpoint - Beikang Medical's Gems one-step embryo culture medium has received the China Medical Device Registration Certificate, marking a significant milestone in the company's full-chain layout in IVF and positioning it to capture a substantial share of the high-end reproductive consumables market, which is valued in the billions [1][6][15] Group 1: Competitive Advantages and Profitability - The approved Gems product is not an ordinary domestic product but a top-tier asset acquired from Australia’s Genea Biomedx, developed by the "father of culture medium," Professor David Mortimer, and has undergone 12 years of clinical validation [3][4] - The technology behind Gems has shown significant clinical advantages, with embryo implantation rates increasing from 7.1% to 38.5% and clinical pregnancy rates from 13.3% to 54.7%, providing a strong competitive edge in the market [4][13] Group 2: Market Potential and Policy Support - The embryo culture medium market has long been dominated by foreign giants, presenting a significant opportunity for domestic alternatives, especially with ongoing national fertility support policies that are expanding industry demand [6][7] - The approval of Gems represents a key milestone in achieving domestic substitution for high-end embryo culture media, which is expected to significantly reduce operational costs for reproductive institutions and enhance market competitiveness [6][7] Group 3: Strategic Transformation and Valuation Logic - The approval of the Gems product signifies Beikang Medical's transformation from a single IVD company to a comprehensive IVF service provider, fundamentally altering its valuation logic and enhancing its premium potential [10][11] - The company has expanded its business boundaries to include embryo culture equipment, consumables, and software, creating a full-chain business model that mitigates growth bottlenecks and enhances profitability stability [10][11] Group 4: Long-term Investment Value - The Gems product embodies both performance certainty and growth potential, making it an attractive long-term investment opportunity for stakeholders [13][15] - The Chinese assisted reproduction market is projected to reach 85.43 billion yuan by 2025, with a compound annual growth rate of 14.5%, positioning Beikang Medical to rapidly capture market share and achieve strong long-term profitability [14][15]

Core Insights - The company has received a Class III medical device registration certificate for its Geri embryo culture medium from the National Medical Products Administration of China, marking a significant milestone in its product development [1] - The Geri embryo culture medium has already obtained certifications from CE, FDA, and TGA, indicating its international compliance and readiness for clinical use [1][2] - The product addresses the challenges faced by older patients in embryo cultivation through its antioxidant formula and stable osmotic pressure environment, enhancing clinical pregnancy rates [2] Product Development - The Geri embryo culture medium is designed specifically to tackle fertility issues in older patients, featuring a "triple antioxidant protection network" that mitigates oxidative stress in older embryos [2] - The inclusion of human serum albumin and long-term stability simplifies laboratory operations and ensures a stable cultivation environment [2] - International clinical validation shows that the combination of Geri embryo culture medium with the Geri wet incubator and AI embryo assessment system significantly improves the quality blastocyst rate and clinical pregnancy rate [2] Market Position - The approval of the Geri embryo culture medium signifies the company's transition from technology introduction to localized production, filling a gap in the domestic high-end assisted reproductive consumables market [2] - The company is the first in China to hold FDA, CE, TGA, and NMPA certifications, establishing a strong competitive position in the industry [2] - With core PGT technology and self-supply capabilities, the company has covered most PGT licensed institutions nationwide and established numerous localized laboratories, creating a sustainable ecological barrier [2]

Core Viewpoint - The approval of Geri embryo culture medium by the National Medical Products Administration (NMPA) in China marks a significant milestone for the company, enabling it to address the challenges faced by older patients in embryo cultivation and filling a gap in the domestic high-end assisted reproductive consumables market [1][2]. Group 1 - The Geri embryo culture medium received a Class III medical device registration certificate from the NMPA on February 25, 2026 [1]. - Prior to this approval, the Geri embryo culture medium had already obtained certifications from the European Union (CE), the U.S. Food and Drug Administration (FDA), and the Australian Therapeutic Goods Administration (TGA) [1]. - The core technology of the Geri embryo culture medium is derived from the Sydney IVF Center, and it combines with the Geri wet incubator and AI embryo assessment system to enhance clinical practice in China [1]. Group 2 - The technology focuses on creating a systematic solution for fertility challenges faced by older patients, featuring a "triple antioxidant protection network" that effectively addresses oxidative stress in older embryos [2]. - The combination of the culture medium with the Geri wet incubator and AI embryo assessment system has been clinically validated to significantly improve the rates of quality blastocysts and clinical pregnancy, providing strong support for older fertility [2]. - The approval signifies a critical transition for the company from technology introduction to localized production, making it the first Chinese enterprise to hold FDA, CE, TGA, and NMPA certifications [2].

Core Viewpoint - The approval of Geri embryo culture medium by the National Medical Products Administration (NMPA) in China marks a significant milestone for the company, establishing it as the first Chinese enterprise to obtain FDA, CE, TGA, and NMPA certifications for high-end assisted reproductive materials [1][2]. Group 1: Product Approval and Certifications - The Geri embryo culture medium received its Class III medical device registration certificate from the NMPA on February 25, 2026 [1]. - Prior to this approval, the Geri embryo culture medium had already obtained certifications from the European Union (CE), the U.S. Food and Drug Administration (FDA), and the Australian Therapeutic Goods Administration (TGA) [1]. Group 2: Technological Advantages - The core technology of the Geri embryo culture medium addresses fertility challenges for older patients through a systematic solution, featuring a "triple antioxidant protection network" that effectively mitigates oxidative stress in older embryos [2]. - The product simplifies laboratory operations and ensures a stable culture environment by incorporating human serum albumin and ultra-long-term stability [2]. Group 3: Clinical Impact and Market Position - International clinical validation indicates that the Geri embryo culture medium, when combined with the Geri wet incubator and AI embryo assessment system, significantly enhances the rates of high-quality blastocysts and clinical pregnancy [2]. - The approval signifies a critical transition from technology introduction to localized production, filling a gap in the domestic market for high-end assisted reproductive consumables [2]. - The company has established a strong presence across most PGT licensed institutions in China and operates numerous localized laboratories, creating a sustainable ecological barrier for continuous innovation [2].

Suzhou Basecare Medical Corporation Limited 蘇 州 貝 康 醫 療 股 份 有 限 公 司 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股份代號：2170） 自願公告 Geri胚胎培養液（Gems胚胎培養液系列產品之一） 獲國家藥監局頒發醫療器械註冊證 本公告由蘇州貝康醫療股份有限公司（「本公司」，連同其子公司統稱「本集團」） 自願刊發，以告知本公司股東及潛在投資者有關本集團業務的最新發展。 本公司董事會（「董事會」）欣然宣佈，本公司的Geri胚胎培養液（Gems胚胎培養 液系列產品之一）於2026年2月25日獲得中國國家藥品監督管理局（「國家藥監局」） 頒發的三類醫療器械註冊證（註冊證號：國械註進20263180071）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容所產生或 因依賴該等內容而引致的任何損失承擔任何責任。 此次獲批標誌著公司實現從引進技術到本土化生產的關鍵跨越，填補國產高 端輔助生殖耗材空白，成為首 ...

Group 1 - The core focus of the market regarding Beikang Medical-B (02170.HK) is on stock price fluctuations and trading data, with no significant events or announcements disclosed in the past week [1] - The stock price experienced a fluctuation range of 10.11%, reaching a high of 2.00 HKD on February 9 and a low of 1.81 HKD on February 5 [1] - As of the close on February 12, the stock price was reported at 1.88 HKD, with a cumulative change of 0.00% over the week [1] Group 2 - On February 12, a net inflow of 69,560 HKD was recorded, indicating that retail investors dominated the trading activity [1] - Technical indicators show that the MACD histogram has turned positive, suggesting an improvement in short-term momentum, although the stock price remains below key moving averages [1] - The narrowing of the Bollinger Bands indicates a decrease in volatility [1]