Core Viewpoint - Recent trading activity indicates a reduction in holdings by southbound funds in Baize Medical (02609.HK), with a total net reduction of 63.54 million shares over the past 20 trading days, despite some periods of net increases [1][2]. Group 1: Trading Activity - On February 2, 2026, southbound funds reduced their holdings by 37,800 shares, representing a decrease of 0.05% [2]. - Over the last five trading days, there were three days of reductions, totaling a net decrease of 635,400 shares [1]. - In the last 20 trading days, there were 13 days of net increases, with a cumulative net increase of 8.346 million shares [1]. Group 2: Company Overview - Baize Medical Group primarily engages in investment and provision of medical services related to oncology, offering comprehensive services throughout the cancer care cycle, including screening, diagnosis, treatment, and rehabilitation [2]. - The company operates mainly in the Chinese market, providing hospital services, hospital management, and supplying pharmaceuticals, medical devices, and consumables [2]. - Services include cancer diagnosis, treatment, rehabilitation, end-of-life care, early cancer screening, cancer vaccination, and health management for potential healthy populations [2].

Core Insights - The traditional healthcare system creates a "service gap" after patient discharge, particularly in oncology, where post-operative recovery and long-term support are often neglected [1] - As cancer is redefined as a manageable chronic disease, the industry is questioning whether healthcare services should remain confined within physical hospital walls [1] - Baize Medical (02609.HK) is implementing the H@H (Hospital At Home) model as a key strategy to extend healthcare services from "hospital-centric" to "continuous management" [1] Group 1: H@H Model - H@H is not merely an extension of traditional home care but represents a systematic upgrade in healthcare service models [3] - Unlike conventional home services focused on basic care, H@H enhances the "management, connection, and companionship" aspects of Baize's comprehensive service system [3] - The model shifts the responsibility of healthcare from just the hospitalization period to a more extended and continuous management of patient health [3] Group 2: Technological Infrastructure - The success of "medical at home" relies heavily on systematic, standardized, data-driven, and intelligent infrastructure [5] - Baize Medical's core advantage lies in its AI-ready digital infrastructure, which integrates real-world healthcare service needs [5] - The four-layer technology architecture allows for real-time data standardization and utilization, enabling proactive interventions in patient care [5] Group 3: Industry Shift - The emergence of H@H reflects a shift in the value orientation of oncology services, focusing on long-term quality of life and patient experience rather than just single treatment outcomes [7] - This transition is driven by changes in disease characteristics, demographic shifts, and evolving patient needs [7] - H@H signifies a profound paradigm shift in oncology care, where the boundaries of healthcare are redefined around the patient rather than physical structures [7]

Core Viewpoint - Southbound funds have increased their holdings in Baize Medical (02609.HK), indicating growing investor interest in the company within the oncology healthcare sector [1] Group 1: Southbound Fund Activity - On January 28, southbound funds increased their holdings by 220,200 shares of Baize Medical [1] - Over the past 5 trading days, there have been 4 days of net increases, totaling 3,209,400 shares [1] - In the last 20 trading days, there were 14 days of net increases, amounting to 8,824,200 shares [1] - Currently, southbound funds hold 71,705,400 shares of Baize Medical, representing 5.42% of the company's total issued ordinary shares [1] Group 2: Company Overview - Baize Medical Group primarily engages in investment and provision of medical-related services, focusing on oncology [1] - The company offers comprehensive oncology services, including screening, diagnosis, treatment, and rehabilitation [1] - Its business operations encompass hospital services, hospital management, supply of pharmaceuticals, medical devices, consumables, and other related services [1] - The company also conducts early cancer screening, tumor vaccination, and health management services for potential healthy populations [1] - Baize Medical primarily operates in the Chinese market [1]

Core Viewpoint - Baize Medical has officially launched a new strategy that transforms its role from a "disease treatment provider" to a "full-cycle health manager," focusing on a systematic and replicable medical practice across eight key stages of cancer care, leveraging an AI-ready continuous medical service platform [1] Group 1: Redefining Service Boundaries - Baize Medical is redefining the scope of cancer care, expanding its services from merely treating patients to providing comprehensive health management for all individuals seeking health [2] - The service continuum now includes preventive interventions for healthy populations and long-term follow-up for recovering patients, creating a health protection ecosystem that respects the essence of life [2] Group 2: Constructing a Measurable Health Journey - The "full-cycle management" is embodied in eight service stages: prevention, screening, diagnosis, treatment, rehabilitation, management, connection, and companionship, forming a complete service loop [3] - The innovative stages of "management," "connection," and "companionship" are integrated into the standardized service system, marking a significant breakthrough in service elevation [3] Group 3: Implementation Mechanisms - To ensure the execution of its ambitious blueprint, Baize Medical focuses on five key capabilities: organizational restructuring, internal control compliance, performance incentives, digital infrastructure, and cultural embedding, aiming to enhance operational efficiency and service quality by 2026 [5] - The company has established a dual-driven mechanism of "intelligent information systems" and "standardized management systems" to overcome challenges in scaling operations within the private healthcare sector [5] Group 4: Advancing Healthcare Delivery - Baize Medical's H@H (Hospital At Home) model extends medical capabilities beyond physical boundaries, ensuring that hospital-level professional care is delivered at home through deep integration of standards and intelligence [7] - The implementation of H@H relies on a medical-grade data governance system that ensures data integrity and privacy, supporting high-risk remote medical decisions [7] Group 5: Future Outlook - With a network of eight physical hospitals across five provinces and a proven standardized system, Baize Medical is poised to set a new high-quality benchmark for the transformation of private cancer care in China [8] - The future of healthcare is envisioned as an ecosystem that nurtures hope, blending technological rationality with human warmth to safeguard the dignity and longevity of every life [8]

Group 1 - The core point of the article highlights the recent trading activity of southbound funds in Baize Medical (02609.HK), indicating a reduction of 369,000 shares on January 8, while showing a net increase of 4,179,000 shares over the past five trading days [1] - Over the last 20 trading days, Baize Medical experienced a net increase of 2,540,400 shares from southbound funds, with 11 days of net buying [1] - As of now, southbound funds hold 65,397,000 shares of Baize Medical, representing 4.96% of the company's total issued ordinary shares [1] Group 2 - Baize Medical Group primarily engages in investment and provision of medical-related services, focusing on oncology [1] - The company offers comprehensive oncology medical services, including screening, diagnosis, treatment, and rehabilitation [1] - Its business operations encompass hospital services, hospital management, supply of pharmaceuticals, medical devices, consumables, and other related services [1]

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12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: 佰澤醫療集團 （根據開曼群島法律註冊成立的有限公司） 呈交日期: 2026年1月6日 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 02609 | 說明 | 普通股 | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 1,318,466,823 | | | | 1,318,466,823 | | 增加 / 減少 (-) | | | | | | | | | 本月底結存 | | | 1,318,466,823 | | 0 | | 1,318,466,823 | I. ...

Group 1 - The core index of the Shenzhen-Hong Kong Stock Connect Medical Index (983035) closed at 4400.67 points, down 0.84%, with a trading volume of 9.364 billion yuan and a turnover rate of 0.96% [1] - Among the constituent stocks, 8 stocks increased, with Aidi Te leading with a rise of 3.21%, while 48 stocks decreased, with Baize Medical leading the decline at 6.52% [1] - The net outflow of main funds from the Shenzhen-Hong Kong Stock Connect Medical Index constituents totaled 390 million yuan, while retail investors saw a net inflow of 497 million yuan [2] Group 2 - The Shenzhen-Hong Kong Stock Connect Medical Index made adjustments in the last 10 days, adding 2 new stocks to its constituents [2]

Group 1 - The core index of the Shenzhen-Hong Kong Stock Connect Medical Index (HKD) closed at 4355.33 points, down 0.53%, with a trading volume of 10.417 billion HKD and a turnover rate of 0.96% [1] - Among the constituent stocks, 8 stocks increased, with Aidi Te leading with a 3.21% rise, while 48 stocks decreased, with Baize Medical leading the decline at 6.52% [1] - The net outflow of main funds from the constituent stocks totaled 390 million HKD, while retail investors saw a net inflow of 497 million HKD [2] Group 2 - The Shenzhen-Hong Kong Stock Connect Medical Index has made adjustments in the last 10 days, incorporating 2 new stocks [2]

董事会进一步宣布，姜铮博士已辞任本公司助理总裁，自2025年12月29日起生效，由于彼希望投入更多 时间于家庭事务。 佰泽医疗(02609)发布公告，吕超先生(吕先生)自2025年12月29日起获委任为本公司总裁。 ...

董事会进一步宣布，姜铮博士已辞任本公司助理总裁，自2025年12月29日起生效，由于彼希望投入更多 时间于家庭事务。 智通财经APP讯，佰泽医疗(02609)发布公告，吕超先生(吕先生)自2025年12月29日起获委任为本公司总 裁。 ...