Xunfei Healthcare Technology Co., Ltd. 訊 飛 醫 療 科 技 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：2506） | 本代表委任表格所涉及 | 非上市內資股 | | --- | --- | | （附註1） 的股份數目 | | | | H股 | 將於2025年11月10日（星期一）舉行的2025年第一次臨時股東大會適用的代表委任表格 本人╱吾等 （附註2） 地址為 為本人╱吾等的代表，代表本人╱吾等出席本公司訂於2025年11月10日（星期一）上午十時假座中國安徽省合肥市蜀山區望江西 路666號本公司會議室舉行的2025年第一次臨時股東大會（「臨時股東大會」）及其任何續會，並於該大會上代表本人╱吾等按照 下列指示行事及投票。 請在適當空欄內填上（「✓」）號，以表示 閣下在投票表決的意願 （附註4） 。 | 1. | 修訂服務及產品採購框架協議項下之年度上限。 | | | | | --- | --- | --- | --- | --- | | 2. | 普通決議案 修訂投標合作框架協議項下之年度 ...

此乃要件 請即處理 閣下如就本通函的任何方面或擬採取的行動有任何疑問，應諮詢股票經紀或其他註冊證券交易商、 銀行經理、律師、專業會計師或其他專業顧問。 閣下如已出售或轉讓持有的所有訊飛醫療科技股份有限公司股份，應立即將本通函連同隨附的 代表委任表格交給買方或承讓人或通過其進行出售或轉讓的銀行、股票經紀或其他代理人，以 便轉交給買方或承讓人。 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通函的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示概不會就本通函全部或任何部分內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 獨立董事委員會及獨立股東之獨立財務顧問 ALTUS CAPITAL LIMITED ቺᑼၗԖज़Ϧљ 訊飛醫療科技股份有限公司將於2025年11月10日（星期一）上午十時假座中國安徽省合肥市蜀山 區望江西路666號本公司會議室舉行2025年第一次臨時股東大會，召開大會的通告載於本通函第 42至43頁。隨附2025年第一次臨時股東大會適用的代表委任表格並刊載於香港交易及結算所有 限公司網站( www.hkexnews.hk )及本公司網站( www.iflyhealth ...

Xunfei Healthcare Technology Co., Ltd. 訊 飛 醫 療 科 技 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 ） 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通告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本通告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 執行董事 陶曉東博士 香港，2025年10月20日 於本通告日期，董事會成員包括：(i)執行董事陶曉東博士；(ii)非執行董事劉慶峰博士、趙志偉先生 及段大為先生；及(iii)獨立非執行董事汪揚教授、趙惠芳教授及談慶先生。 – 1 – 1. 修訂服務及產品採購框架協議項下之年度上限。 2. 修訂投標合作框架協議項下之年度上限。 （股份代號：2506） 2025年第一次臨時股東大會通告 茲通告訊飛醫療科技股份有限公司（「本公司」）將於2025年11月10日（星期一）上午 十時假座中國安徽省合肥市蜀山區望江西路666號本公司會議室舉行2025年第一次臨時 股東大會（「臨時股東大會」），藉以考慮並酌情通 ...

Core Viewpoint - Southbound funds reduced their holdings in iFlytek Medical Technology (02506.HK) by 5,550 shares on October 16, 2025, indicating a slight decrease in investor confidence in the short term [1]. Group 1: Southbound Fund Activity - In the last five trading days, southbound funds increased their holdings on three days, with a total net increase of 85,400 shares [1]. - Over the past 20 trading days, there were 16 days of net increases, totaling 253,400 shares [1]. - As of now, southbound funds hold 3,710,600 shares of iFlytek Medical Technology, accounting for 4.79% of the company's total issued ordinary shares [1]. Group 2: Company Overview - iFlytek Medical Technology Co., Ltd. primarily provides AI-enabled medical solutions in China [2]. - The company's business lines include grassroots medical services (intelligent medical assistants and chronic disease management), hospital services (smart hospital solutions and diagnostic assistants), and patient services (smart hospital patient services and post-discharge management) [2]. - The regional management platform solutions include smart health solutions and smart medical insurance [2].

I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 非上市股份 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 43,581,121 | RMB | | | 1 RMB | | | 43,581,121 | | 增加 / 減少 (-) | | | | | | | RMB | | | | | 本月底結存 | | | 43,581,121 | RMB | | | 1 RMB | | | 43,581,121 | 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9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 訊飛醫療科技股份有限公司 呈交日期: 2 ...

Core Insights - The article discusses the recent adjustments in the Hong Kong Stock Connect market, highlighting the rapid inclusion and exclusion of stocks, particularly new listings, and the implications for investors [1][4]. Group 1: Market Adjustments - As of September 2025, a total of 67 stocks were included in the Hong Kong Stock Connect, while 61 were removed, indicating a significant turnover in the market [1]. - New stocks listed for less than six months can quickly enter the Stock Connect if they meet liquidity and market capitalization requirements, raising concerns about the stability of these stocks [4][6]. Group 2: Inclusion Mechanism - The general rules for inclusion in the Stock Connect require a daily average market capitalization that ranks in the top 95% of the Hong Kong market and passing liquidity tests [1][2]. - New stocks can be included in the Stock Connect as soon as 70 days after listing if they meet the necessary criteria, which can lead to rapid price fluctuations [4][6]. Group 3: Case Studies - iFlytek Medical Technology, listed on December 30, 2024, saw its stock price drop nearly 40% after a brief surge due to speculative trading, highlighting the risks of rapid inclusion without solid market backing [6][7]. - Health Road, which also entered the Stock Connect shortly after listing, experienced a similar pattern, with its stock price soaring before plummeting due to weak fundamentals and lack of market interest [8][9]. - Cloud Wisdom, listed on June 30, 2025, had a significant initial price increase but faced a sharp decline after its inclusion in the Stock Connect, demonstrating the volatility associated with such rapid market movements [11][13].

Core Viewpoint - The company primarily operates in the domestic market, providing AI-enabled medical solutions, with business lines including primary healthcare services, hospital services, patient services, and regional management platform solutions [5] Revenue and Profit Growth - Historical revenue and net profit growth rates show fluctuations, with a notable increase in revenue growth rate in 2023 compared to previous years [7][10] - The company's revenue for the first half of 2025 is composed of various segments: hospital solutions (0.529 billion), patient management services (1.043 billion), regional solutions (0.576 billion), and primary healthcare solutions (0.838 billion) [9] Financial Performance Metrics - In the first half of 2025, the average return on equity was -8.2%, an increase of 20.62 percentage points from the same period last year [14] - The company's total asset turnover ratio has shown a consistent trend, with a notable value of 0.44 times in 2025H1 [17] Asset and Liability Changes - As of the first half of 2025, significant changes in assets include a 7.7% increase in receivables, a 44.97% increase in long-term receivables, a 28.7% increase in inventory, and a 77.75% increase in contract assets [23] - On the liabilities side, long-term borrowings increased by 224.07%, and short-term borrowings increased by 68.61%, indicating a rise in the proportion of total assets [26] Liquidity Ratios - The company reported a current ratio of 1.60 and a quick ratio of 1.49 in the first half of 2025, indicating a stable liquidity position [29]

Financial Performance - The company reported a revenue increase of 15% year-over-year, reaching RMB 1.2 billion in the first half of 2025[4]. - For the six months ended June 30, 2025, the Company recorded revenue of RMB298.6 million, representing an increase of 30.3% compared to RMB229.2 million for the same period last year[56]. - The gross profit for the same period was RMB153.9 million, reflecting a 27.0% increase year-over-year, with a gross profit margin of 51.5%, a slight decrease of 1.3 percentage points from the previous year[56]. - The Company's total revenue increased by 30.3% from RMB229.2 million for the six months ended June 30, 2024, to RMB298.6 million for the six months ended June 30, 2025, driven by primary solutions (52.3% year-on-year growth), patient management services (10.1% year-on-year growth), and regional solutions (178.1% year-on-year growth)[127][131]. - The company's cash and cash equivalents increased to RMB743.9 million as of June 30, 2025, compared to RMB676.8 million as of December 31, 2024[162]. User Growth and Market Expansion - User data showed a growth of 25% in active users, totaling 5 million by the end of the reporting period[4]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2026[4]. - The General Practice CDSS was adopted in over 75,000 PHC institutions across 697 districts and counties, offering over 1.01 billion AI-assisted diagnosis suggestions and generating over 390 million standardized electronic medical records[75]. Research and Development - Investment in R&D increased by 30%, amounting to RMB 300 million, focusing on AI and healthcare technologies[4]. - Total R&D investment for the six months ended June 30, 2025, amounted to RMB134.2 million, accounting for 44.9% of total revenue, representing an 11.8% decrease compared to the same period in 2024[47]. - The Company has established an industry-leading Spark Medical Model foundation, integrating medical expertise and evidence-based reinforcement learning, with a focus on self-reliance and controllability in technology[46]. Product Development and Innovation - The company introduced two new products in the healthcare sector, anticipating a combined revenue contribution of RMB 200 million in the next fiscal year[4]. - The Xunfei Spark Medical Model, released in 2023, is the only healthcare large model trained on domestically produced computing power, showcasing the Company's technological advantages[26]. - The AI-powered product series has been upgraded to meet the diverse needs of clients, solidifying the Company's role in the global healthcare industry[21]. - The Company aims to empower government regulatory governance and improve hospital quality and efficiency through its innovative AI solutions[21]. Operational Efficiency - Operating margin improved to 18%, up from 15% in the previous year, reflecting better cost management[4]. - The company aims to reduce operational costs by 5% through efficiency improvements in the supply chain[4]. - The Company continues to enhance operational efficiency and seize new profit opportunities through synergistic commercialization strategies[56]. Strategic Partnerships and Collaborations - A strategic acquisition of a local tech firm was announced, expected to enhance the company's technological capabilities and customer base[4]. - The company signed a strategic cooperation agreement with the Chinese Medical Journals Publishing House to explore medical LLMs and build a smart medical knowledge service platform[36]. - The company has established deep partnerships with top medical institutions to create specialized disease-specific large models, enhancing the implementation of medical AI in clinical settings[94][96]. Sustainability and Corporate Responsibility - Future guidance indicates a focus on sustainable practices, with a commitment to reduce carbon emissions by 20% by 2027[4]. - The Company released its first ESG report in 2025, receiving an A rating and ranking 24th out of 245 listed information technology service providers, placing it in the top 10% of the industry[55]. Financial Health and Cash Flow - The company's loss for the period decreased by 38.5% from RMB133.7 million for the six months ended June 30, 2024, to RMB82.3 million for the six months ended June 30, 2025[148][153]. - The company's bank borrowings increased from RMB 244.8 million as of December 31, 2024, to RMB 513.5 million as of June 30, 2025, all of which are unsecured and repayable within two years[176]. - The company's gearing ratio rose to 60.4% as of June 30, 2025, compared to 52.8% as of December 31, 2024[177].

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: 訊飛醫療科技股份有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 其他類別 (請註明) | | | 於香港聯交所上市 (註1) | | 否 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | N/A | 說明 | 非上市股份 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | | 法定/註冊股本 | | | 上月底結存 | | | 43,581,121 | RMB | | | 1 RMB | | | 43,581,121 | | 增加 / 減少 (-) | | | | | | | RMB | | | | | 本月底結存 | | | 43,581,121 | RMB | | | 1 RMB | | | 43,5 ...

Core Viewpoint - The company, iFlytek Medical, aims to demonstrate its investment value through its performance, despite the overall market uptrend in the Hang Seng Index and popular concept stocks [1]. Financial Performance - For the first half of 2025, iFlytek Medical reported a revenue of 299 million yuan, representing a year-on-year growth of 30%, continuing a compound annual growth rate of 24.7% from 2022 to 2024 [1]. - The company's gross margin remained stable at a high level of 51.5%, while the net loss rate significantly narrowed to 22%, improving by 15.5% year-on-year [1][3]. Business Segments - Government segment revenue reached 140 million yuan, up 87% year-on-year, accounting for 47.4% of total revenue, with grassroots solutions growing by 52% and regional solutions by 178% [3]. - The combined revenue from hospitals and patients was 156 million yuan, a year-on-year increase of 3.7%, making up 52.6% of total revenue [3]. Product Matrix and Market Position - iFlytek Medical has developed a diversified product matrix for GBC (Government, Business, Consumer) scenarios, with AI medical products leading the industry and achieving large-scale applications [4][5]. - The core product "Smart Medical Assistant" has been implemented in over 75,000 grassroots institutions across 697 districts and counties, completing over 1.01 billion AI-assisted diagnoses [4]. R&D and Technological Advancements - The company launched the "X1 Medical Model" in March, which outperformed competitors like GPT-4o in various medical tasks, and further upgraded it in July to maintain industry leadership [6]. - iFlytek Medical's R&D investment reached 134 million yuan in the first half of 2025, accounting for 45% of its revenue, contributing to its technological edge [7]. Market Outlook and Investment Potential - The AI medical market in China is projected to grow at a compound annual growth rate of 33.8% from 2019 to 2023, potentially reaching 315.7 billion yuan by 2033 [7]. - The company is positioned to benefit from both high industry growth and supportive policies, with significant interest from institutional investors and a rising stock price [8].