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: 2025年8月31日 | | --- | | 狀態: | | 新提交 | 致：香港交易及結算所有限公司 公司名稱: 醫脈通科技有限公司 呈交日期: 2025年9月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02192 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | USD | | 0.00001 | USD | | 500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 50,000,000,000 | USD | | 0.00001 | USD ...

Group 1 - The core point of the article is that Franklin Templeton has increased its stake in the company 医脉通 (Medlinker) by purchasing 1.6715 million shares at an average price of HKD 14.5086 per share, raising its ownership percentage from 4.86% to 5.09% [1][3] - The total investment made by Franklin Templeton in this transaction amounts to approximately HKD 24.2511 million [1] - Following this transaction, Franklin Templeton's total shareholding in 医脉通 now stands at 37.3465 million shares [1][3] Group 2 - The transaction date for the share purchase was August 27, 2025 [2][3] - The increase in shareholding reflects a strategic move by Franklin Templeton to enhance its position in the company [1]

Group 1 - The core point of the article is that Franklin Templeton has increased its stake in the company Medlinker (02192) by acquiring 1.6715 million shares at a price of HKD 14.5086 per share, totaling approximately HKD 24.2511 million [1] - After the acquisition, Franklin Templeton's total shareholding in Medlinker is now 37.3465 million shares, representing a 5.09% ownership stake [1]

智通财经APP获悉，香港联交所最新数据显示，8月27日，富国基金增持医脉通(02192)167.15万股，每 股作价14.5086港元，总金额约为2425.11万港元。增持后最新持股数目为3734.65万股，持股比例为 5.09%。 ...

Core Insights - The company reported better-than-expected performance for 1H25, with revenue of 312 million yuan (+28.2% YoY) and net profit attributable to shareholders of 166 million yuan (+4.3% YoY) [1][2] - The growth in revenue is attributed to a rapid increase in the number of collaborative projects [1] Financial Performance - Non-IFRS EBIT for 1H25 reached 72.69 million yuan (+36.4% YoY), with a corresponding profit margin of 23.3% (+1.4 percentage points YoY) [1][2] - The gross margin for 1H25 was reported at 59.0% (-1.6 percentage points YoY), influenced by increased costs associated with digital marketing projects for pharmaceutical clients [2] Revenue Breakdown - Revenue by business segment for 1H25: Precision Marketing and Enterprise Solutions at 292 million yuan (+29.6% YoY), Medical Knowledge Solutions at 9.195 million yuan (+9.2% YoY), and Intelligent Patient Management Solutions at 10.46 million yuan (+11.5% YoY) [1] - Revenue by region for 1H25: Domestic revenue at 304 million yuan (+28.0% YoY) and overseas revenue at 77.55 million yuan (+37.5% YoY) [1] Client Engagement - The number of clients covered by Precision Education and Enterprise Solutions increased to 191 (+20.9% YoY), with a total of 445 projects (+32.4% YoY) [1] - The average number of collaborative projects per enterprise increased to approximately 2.3 in 1H25, compared to 2.1 in 1H24 [1] Dividend Policy - The company plans to distribute a dividend of 0.1166 yuan per share, with a total dividend payout of 85.615 million yuan, representing a payout ratio of approximately 55% [2] Product Development - The company launched AI products such as MedSeeker, MedPaper, and MedAssister, aimed at assisting physicians in clinical decision-making and improving research efficiency [3] - A new content generation module for pharmaceutical clients was introduced, which can reduce labor costs by 50% while ensuring content professionalism and compliance [3] Valuation and Forecast - The company maintains its target price at 17.5 HKD, based on a 39x EV/EBIT valuation for 2025, with a current trading multiple of approximately 28x [3]

研究报告 Research Report 28 Aug 2025 医脉通 Medlive Technology (2192 HK) 25H1 业绩符合预期，应用 AI 技术提升平台能力 Performance meets expectations, applying AI technology to enhance platform capabilities [Table_yemei 观点聚焦 1] Investment Focus [Table_Info] 维持优于大市 Maintain OUTPERFORM 评级 优于大市 OUTPERFORM 现价 HK$14.07 目标价 HK$15.00 HTI ESG 5.0-5.0-5.0 E-S-G: 0-5, (Please refer to the Appendix for ESG comments) 市值 HK$10.33bn / US$1.33bn 日交易额 (3 个月均值) US$6.90mn 发行股票数目 734.26mn 自由流通股 (%) 26% 1 年股价最高最低值 HK$17.04-HK$7.20 注：现价 HK$14.07 为 2025 ...

Core Viewpoint - The stock of Yimaitong (02192) experienced a decline of over 5% during trading, currently down 4.3% at HKD 14.02, with a trading volume of HKD 32.4476 million [1] Financial Performance - For the six months ending June 30, 2025, Yimaitong reported revenue of RMB 312 million, representing a year-on-year increase of 28.2% [1] - The profit attributable to the owners of the parent company was RMB 155 million, reflecting a year-on-year increase of 5.9% [1] - Basic earnings per share were reported at 21.2 cents [1] Dividend Announcement - The board of directors declared an interim dividend of RMB 11.66 cents per ordinary share, compared to RMB 12.05 cents in the same period last year [1]

Group 1 - The core viewpoint of the article indicates that 医脉通 (Medlinker) experienced a decline in stock price despite reporting positive financial results for the six months ending June 30, 2025 [1] - The company reported a revenue of 312 million RMB, representing a year-on-year increase of 28.2% [1] - The net profit attributable to the parent company was 155 million RMB, which is a 5.9% increase compared to the previous year [1] - The basic earnings per share were reported at 21.2 cents [1] Group 2 - The board of directors declared an interim dividend of 11.66 cents per ordinary share, down from 12.05 cents in the same period last year [1] - The stock price of 医脉通 fell over 5% during trading, with a current price of 14.02 HKD and a trading volume of 32.4476 million HKD [1]

88%执业医师的伙伴，精准营销助力创新药商业化，AI 持续赋能平台 [Table_CoverStock] —医脉通(2192.HK)公司深度报告 [Table_ReportDate] 2025 年 8 月 25 日 S1500523080002 S1500524030003 [Table_CoverAuthor] 唐爱金 医药行业首席分析师 章钟涛 医药行业分析师 tangaijin@cindasc.com zhangzhongtao@cindasc.com 证券研究报告 公司研究 [Table_ReportType] 公司深度报告 [Table_StockAndRank] 医脉通（2192.HK） 投资评级 买入 上次评级 [Table_Chart] 资料来源： ifind ，信达证券研发中心 [Table_BaseData] 公司主要数据 | 收盘价（港元） | 14.65 | | --- | --- | | 52 周内股价波动区间 | 6.71-17.18 | | (港元) | | | 最近一月涨跌幅(％) | -2.33 | | 总股本(亿股) | 7.34 | | 流通 H 股比例(％) | 100 ...

Core Viewpoint - The company reported a significant increase in revenue and profit for the six months ending June 30, 2025, indicating strong financial performance and growth potential in the market [1] Financial Performance - Revenue reached approximately 312 million RMB, representing a year-on-year growth of 28.2% [1] - Profit attributable to the owners of the parent company was approximately 155 million RMB, showing a year-on-year increase of 5.9% [1] - Adjusted net profit under non-Hong Kong Financial Reporting Standards was about 167 million RMB, reflecting a year-on-year growth of 6.9% [1] - Basic earnings per share were reported at 21.2 cents [1] - The company declared an interim dividend of 11.66 cents per ordinary share [1]