来源：险企观察 流量池在缩减，盈利质量在下滑，用户信任在流失——轻松健康集团在港交所的钟声敲响背后，是一连 串无法回避的经营难题。 "互联网健康科技第一股"的光环下，轻松健康集团的经营数据暴露了其商业模式的核心缺陷：营收大幅 增长的背后，隐藏着活跃用户两年流失超过2000万的窘境。 根据公司招股书，轻松健康集团将知名度最高的"轻松筹"业务剥离后，平台活跃用户从2022年的7050万 锐减至2024年9月末的5000万。 与此同时，公司的综合毛利率从2022年的82.6%暴跌至2024年前三季度的43.4%，而一度被视为"现金奶 牛"的保险业务，收入占比从2022年的81.5%缩减至2024年前三季度的37.1%。 业务转型与增长困境 轻松健康集团在冲刺港股IPO前夕做出了一项重大决策——将核心流量业务"轻松筹"从上市主体中剥 离。2024年6月，创始人杨胤主动将知名度最高的线上大病筹款平台"轻松筹"和旗下朵尔医院相关业务 从公司主体分离。 这一剥离一方面是出于合规需要，另一方面则因为"轻松筹"频繁卷入争议，反而可能成为上市包袱。 轻松筹早期以"公益救助"聚拢了海量爱心用户，通过社交网络为重病患者筹集善款。然而 ...

智通财经APP讯，轻松健康(02661)发布公告，有关全球发售的稳定价格期间已于2026年1月17日(星期 六)(即递交香港公开发售申请截止日期后第30日)结束。 由于国际发售并无超额分配，保荐人兼整体协调人(为其本身及代表国际包销商)并无行使超额配股权， 且稳定价格经办人或代其行事的任何人士于稳定价格期间并无开展任何稳定价格行动。超额配股权已于 2026年1月17日(星期六)(即递交香港公开发售申请截止日期后第30日)失效。因此，概无股份已经或将会 根据超额配股权发行。 该信息由智通财经网提供 ...

由于国际发售并无超额分配，保荐人兼整体协调人(为其本身及代表国际包销商)并无行使超额配股权， 且稳定价格经办人或代其行事的任何人士于稳定价格期间并无开展任何稳定价格行动。超额配股权已于 2026年1月17日(星期六)(即递交香港公开发售申请截止日期后第30日)失效。因此，概无股份已经或将会 根据超额配股权发行。 轻松健康(02661)发布公告，有关全球发售的稳定价格期间已于2026年1月17日(星期六)(即递交香港公开 发售申请截止日期后第30日)结束。 ...

格隆汇1月18日丨轻松健康(02661.HK)发布公告，有关全球发售的稳定价格期间已于2026年1月17日(星 期六)(即递交香港公开发售申请截止日期后第30日)结束。超额配股权已于2026年1月17日(星期六)(即递 交香港公开发售申请截止日期后第30日)失效。因此，概无股份已经或将会根据超额配股权发行。 ...

除本公告另有界定者外，本公告所用詞彙與輕松健康集團（「本公司」）刊發的日期為2025年12月15日的招股章程 （「招股章程」）所界定者具有相同涵義。 本公告乃根據香港法例第571W章《證券及期貨（穩定價格）規則》第9(2)條作出。 本公告僅供參考，並不構成任何人士收購、購買或認購本公司證券的要約或誘使作出要約的邀請。本公告並非招 股章程。有意投資者應先行閱讀招股章程有關下文所述本公司及全球發售的詳細資料，方決定是否投資於發售股 份。 本公告不會直接或間接於美國或向美國（包括其領土及屬地、美國任何州及哥倫比亞特區）發佈、刊發或派發。本 公告並非且不擬構成或組成在美國或任何其他司法管轄區的任何要約出售或招攬購買或認購任何證券的一部分。 發售股份並無亦不會根據1933年美國證券法（經不時修訂）（「美國證券法」）或美國任何州或其他司法管轄區的證券 法登記，且不得於美國境內提呈發售、出售、質押或以其他方式轉讓，惟根據美國證券法登記規定可獲得的豁免 或屬毋須遵守美國證券法登記規定的交易中進行且遵守任何適用的州證券法除外。發售股份僅根據美國證券法S 規例以及進行發售及出售的各司法管轄區適用法律於美國境外以離岸交易方式提呈發 ...

Core Viewpoint - As of January 15, a total of 105 stocks reached their 52-week highs, with notable performers including 德莱建业 (01546), 东曜药业－Ｂ (01875), and 大森控股 (01580) achieving high rates of 78.00%, 51.36%, and 37.61% respectively [1]. Summary by Category 52-Week Highs - 德莱建业 (01546) closed at 0.355, with a peak of 0.445, marking a high rate of 78.00% [1]. - 东曜药业－Ｂ (01875) closed at 4.190, reaching a high of 4.450, with a high rate of 51.36% [1]. - 大森控股 (01580) closed at 0.275, with a peak of 0.300, achieving a high rate of 37.61% [1]. - 顺兴集团控股 (01637) and 怡园酒业 (08146) also showed significant increases, with high rates of 36.36% and 24.74% respectively [1]. Additional Notable Stocks - JBB BUILDERS (01903) reached a high rate of 24.12% with a closing price of 2.830 [1]. - 天臣控股 (01201) and 江苏创新 (02116) had high rates of 15.38% and 15.00% respectively [1]. - 万国黄金集团 (03939) and 竣球控股 (01481) also performed well, with high rates of 12.95% and 12.44% respectively [1]. 52-Week Lows - The report also noted stocks reaching 52-week lows, with 天彩控股 (03882) showing a low rate of -14.42% [3]. - 中国智慧能源 (01004) and 基石控股 (01592) followed with low rates of -13.64% and -12.86% respectively [3]. - 弘毅文化集团－旧 (02990) and 中原建业 (09982) also reported significant declines of -9.09% and -6.06% respectively [3].

Core Insights - The 2026 Molecular Insurance Technology Festival was held in Xiamen, showcasing cutting-edge insurance technology and innovations, with a focus on the future development of insurance technology and service systems [1] - The leading health service platform, Lighter Health Group, was recognized for its excellence in insurance technology, being awarded the "Top 100 Insurance Technology and Services" for six consecutive years, highlighting its dual breakthroughs in technological strength and ecological collaboration [1] Group 1 - Lighter Health Group announced a strategic partnership with the Greater Bay Area Medical Group to launch the "Bay Area Smart Health: AI Empowered Value Medical Universal Health Protection Plan," aimed at creating an AI-enabled healthcare ecosystem [3] - The collaboration will address the challenges posed by an aging population and diverse health needs by providing accessible and affordable lifetime health services [3] Group 2 - AI is transitioning from concept validation to large-scale implementation, becoming a core force in reshaping the insurance value chain, with Lighter Health Group's self-developed AIcare technology stack creating a unique "AI + Health + Insurance" empowerment loop [7] - This model enhances the precision of insurance product pricing and service efficiency while offering new solutions for insurance institutions to reduce long-term risk costs and improve user engagement [7] Group 3 - Lighter Health Group has established a collaborative path of "health scenarios + AI risk control + insurance products," enhancing user risk awareness and management through real health scenarios [9] - The use of AI for structured analysis of health data aids underwriting, claims, and service decision-making, leading to more personalized and intelligent insurance services [9] Group 4 - The strategic partnership with the Greater Bay Area Medical Group is a crucial part of Lighter Health Group's effort to build an "insurance + technology + healthcare" ecological loop, moving towards an open and collaborative health service ecosystem [9] - The ongoing development of the "Bay Area Smart Health" plan and continuous R&D in AI technology is driving a shift from passive response to proactive management in health services [10]

消息面上，据环球网报道，1月14日，在2026分子保险科技节上，轻松健康集团宣布与大湾区医疗集团 达成战略合作，建立长期伙伴关系，并启动"湾区智健：AI赋能价值医疗全民健康守护计划"。 双方将结合大湾区医疗集团在价值医疗模式探索、家庭医生服务体系建设及健康管理的丰富经验，与轻 松健康集团在AI技术应用、大数据分析和互联网健康管理的领先优势，打造覆盖预防、诊疗、康复全 流程的智能化健康管理方案。双方将积极推动AI技术在疾病早筛、风险评估、个性化健康管理等领域 的深度应用，实现医疗资源的高效配置及一体化服务，进一步提升居民健康管理体验与生活质量。 智通财经APP获悉，轻松健康(02661)涨超9%，高见99.5港元再创新高，较招股价22.68港元已涨近 340%。截至发稿，涨8.92%，报98.95港元，成交额4703.72万港元。 ...

双方将结合大湾区医疗集团在价值医疗模式探索、家庭医生服务体系建设及健康管理的丰富经验，与轻 松健康集团在AI技术应用、大数据分析和互联网健康管理的领先优势，打造覆盖预防、诊疗、康复全 流程的智能化健康管理方案。双方将积极推动AI技术在疾病早筛、风险评估、个性化健康管理等领域 的深度应用，实现医疗资源的高效配置及一体化服务，进一步提升居民健康管理体验与生活质量。 消息面上，据环球网报道，1月14日，在2026分子保险科技节上，轻松健康集团宣布与大湾区医疗集团 达成战略合作，建立长期伙伴关系，并启动"湾区智健：AI赋能价值医疗全民健康守护计划"。 轻松健康(02661)涨超9%，高见99.5港元再创新高，较招股价22.68港元已涨近340%。截至发稿，涨 8.92%，报98.95港元，成交额4703.72万港元。 ...

Core Insights - The strategic partnership between Easy Health Group and Greater Bay Area Medical Group aims to establish a long-term collaboration focused on creating an AI-enabled value healthcare ecosystem in the Guangdong-Hong Kong-Macao Greater Bay Area [1][5] - The initiative, named "Bay Area Smart Health: AI Empowered Value Medical Universal Health Protection Plan," seeks to provide accessible, affordable, and trustworthy health services throughout the life cycle, addressing challenges posed by an aging population and diverse health needs [1][5] Group 1 - The collaboration will leverage Greater Bay Area Medical Group's experience in value-based healthcare models and family doctor service systems, combined with Easy Health Group's strengths in AI technology, big data analysis, and internet health management [5] - The partnership aims to develop an intelligent health management solution covering prevention, diagnosis, and rehabilitation, enhancing the efficiency of medical resource allocation and integrated services [5][6] Group 2 - Specific initiatives include the development of an intelligent health management platform, AI-assisted preventive medicine tools, health education seminars, medical training collaborations, and cross-border medical cooperation [5][6] - The focus will be on creating a cloud platform driven by AI for intelligent health management, offering personalized preventive plans and comprehensive health management services [5][6] Group 3 - Easy Health Group's Executive Vice President emphasized the commitment to using AI technology for structural upgrades in health management, marking this partnership as a significant step in implementing AI capabilities in real medical scenarios [6] - The Chief Insurance Officer of Greater Bay Area Medical Group expressed optimism about the collaboration, highlighting its potential to provide precise and convenient health management solutions in response to societal demands such as aging populations and chronic disease prevention [6]