本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责 任。 根据中国证券监督管理委员会发布的《上市公司股权激励管理办法》 《上市公司信息披露管理办法》等规定的要求，北京万东医疗科技股份有 限公司（以下简称"公司"）对公司2025年股票期权激励计划（以下简称 "激励计划"）采取了充分必要的保密措施，同时对本次激励计划的内幕 信息知情人及激励对象进行了登记。 2025 年 3 月 20 日，公司召开第十届董事会第六次会议，审议通过《关 于<万东医疗 2025 年股票期权激励计划（草案）>及其摘要的议案》《关于< 万东医疗 2025 年股票期权激励计划实施考核管理办法>的议案》及《关于 提请股东大会授权董事会办理 2025 年股票期权激励计划相关事宜的议案》 等相关议案，并于 2025 年 3 月 22 日在上海证券交易所网站披露相关公告。 根据《上市公司股权激励管理办法》的有关规定，公司对内幕信息知情人 及激励对象在激励计划公告前 6 个月内买卖公司股票的情况进行自查，具 体情况如下： 证券代码：600055 证券简称：万东医疗 编号：临 ...

Summary of Conference Call Company and Industry Overview - The conference call discusses the performance of a medical equipment company in 2024, highlighting a revenue growth of approximately 23% year-on-year, which is considered a counter-cyclical growth compared to the overall industry [1] - The company has a significant presence in the private healthcare market and basic medical services, contributing to its revenue increase [1] Key Points and Arguments Revenue and Growth - The company’s overseas revenue, particularly in regions like Central Asia, Latin America, the Middle East, and Africa, accounts for about 80% of its international sales, with expected growth rates of 50-60% over the next three years [2] - The product line for DSA, mobile DR, and other dynamic products constitutes around 20% of the business, with the fastest growth seen in high-end products like MR and CT, achieving over 70% and 50% year-on-year growth respectively [4][5] - The private medical institutions contribute over 40% to the company's revenue, indicating a strong demand for new procurement in this sector [9] Market Trends and Strategies - The company is focusing on high-end DR products and aims to capture more market share through strategic bidding in high-end segments [7] - The "宇宙换星" project is expected to enhance procurement demand, with anticipated larger funding in the second wave compared to the first [8] - The company plans to expand its product categories and local operations in key areas to sustain high overseas growth rates [2][15] Product Development and AI Integration - The company is integrating AI functionalities across its product lines to enhance diagnostic efficiency and image quality [23][24] - There is a focus on developing core components for MR products, with expectations for significant advancements by 2027 [34] Financial Outlook - The company anticipates maintaining a mid-to-high single-digit growth rate in the industry over the next two to three years, with a potential increase in revenue driven by high-end product launches [11][29] - The gross margin is expected to stabilize and gradually improve as high-end product lines are introduced [28][29] Challenges and Market Dynamics - The company acknowledges the impact of centralized procurement on sales, which is a growing trend in the medical equipment sector [12][11] - There are concerns about the slowing growth in the private market, with expectations for public hospital procurement to improve gradually [9] Additional Important Insights - The company is actively pursuing investment and acquisition opportunities to ensure efficient use of its cash reserves [10] - The strategic focus includes building localized capabilities in 20 countries to enhance service delivery and product offerings [14] - The company is also addressing the challenges posed by geopolitical factors and tariffs in its overseas operations, ensuring a stable market presence in favorable regions [35] This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of the company's performance, strategies, and market outlook.

Core Viewpoint - The announcement details the verification and public disclosure of the incentive plan for stock options at Beijing Wandong Medical Technology Co., Ltd, ensuring compliance with relevant regulations and confirming the eligibility of the proposed incentive recipients [1][2]. Disclosure Situation - The company published the list of incentive recipients on March 22, 2025, on the Shanghai Stock Exchange website and other designated media, with an internal public notice period from March 28 to April 8, 2025, during which no objections were received [1]. Supervisory Board Verification Opinion - The supervisory board verified the qualifications of the proposed incentive recipients, confirming that all individuals listed meet the requirements set forth in the Company Law, Securities Law, and relevant regulations [2]. - The basic information of the proposed incentive recipients is accurate, with no instances of falsehood or significant misrepresentation [3]. - None of the proposed recipients fall under the disqualifying conditions outlined in Article 8 of the Management Measures, such as being deemed inappropriate by the stock exchange or regulatory authorities within the last 12 months [4]. - The proposed incentive recipients do not include independent directors, supervisors, or shareholders holding more than 5% of the company's shares, ensuring compliance with the incentive plan's criteria [4].

证券代码：600055 证券简称：万东医疗 编号：临 2025-015 北京万东医疗科技股份有限公司监事会 关于股票期权激励计划激励对象名单 的核查意见及公示情况说明 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导 性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责 任。 公司于2025年3月22日在上海证券交易所网站和指定披露媒体上发布 《万东医疗2025年股票期权激励计划激励对象名单》，并在公司内部对上述 激励对象的姓名与职务进行公示，公示时间为2025年3月28日至2025年4月8 日。截至公示期满，未收到与本次激励对象有关的任何异议。 二、监事会核查意见 公司监事会对本次拟激励对象的名单、身份证件、与公司（含分子公 司，下同）签订的劳动合同、担任职务等情况进行了核查。根据《管理办 法》《公司章程》及公司对拟授予的激励对象名单及职务的公示情况，并结 合监事会的核查结果，监事会发表核查意见如下： 1、列入本次激励计划激励对象名单的人员均具备《公司法》《证券法》 等有关法律、法规、规范性文件和《公司章程》规定的任职资格。 2、本次拟激励对象的基本情况属实，不存在虚假、故意隐瞒或致 ...

2025 年 4 月 万东医疗 2024 年度股东大会会议资料 万东医疗 2024 年度股东大会会议资料 北京万东医疗科技股份有限公司 北京万东医疗科技股份有限公司 2024 年度股东大会会议议程 2024 年度股东大会会议资料 现场会议时间：2025 年 4 月 16 日下午 13:00 时。 交易系统投票平台投票时间：2025 年 4 月 16 日交易时间段。 互联网投票平台投票时间：2025 年 4 月 16 日 9:15-15:00。 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相 结合的方式。 现场会议地点：北京市朝阳区酒仙桥东路 9 号院 3 号楼。 参加会议人员：2025 年 4 月 7 日下午收市后，在中国证券登记结算有 限公司上海分公司登记在册的本公司股东及股东代表；公司董事、监事及 高级管理人员；律师。 会议登记时间：2025 年 4 月 8 日上午 9：00-11：30，下午 13：00－17： 00。 会议议程： 一、主持人宣布股东到会情况 股东大会召集人：公司董事会 二、审议会议议案、按审议事项的顺序逐项投票表决 议案 11：关于提请股东大会授权董事会办理 2025 年 ...

Investment Rating - The report assigns a "Buy" rating for the company, indicating a potential upside of over 15% in the next six months [4]. Core Insights - The company's performance meets expectations, with a projected revenue growth of 23% and a non-GAAP net profit growth of 5% for 2024. The profit margin is primarily impacted by a decline in gross margin [1][3]. - The company has launched a stock option incentive plan for 2025, with ambitious revenue growth targets of 27.5%, 62%, and 120% for the years 2025 to 2027, reflecting strong long-term confidence [1][11]. - The domestic market share for CT, MR, and DSA products remains low, suggesting significant growth potential as the company enhances its high-end product lineup and expands into overseas markets [1][15]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 1.524 billion yuan, a 23% increase year-on-year, while the net profit attributable to shareholders was 157 million yuan, a 17% decrease [2][3]. - The fourth quarter of 2024 saw revenues of 431 million yuan, a 39% increase, while the net profit decreased by 39% to 42 million yuan [3]. Product Performance - The company achieved significant growth in CT and MR product sales, with MR sales increasing by 93% and CT sales by 90% in 2024. Revenue from MR grew by 75% and CT by 55% [8][9]. - The company is focusing on high-end product development, with new products like the 3.0T MR and 64-slice CT expected to drive future growth [9][10]. Market Outlook - The report anticipates continued improvement in industry bidding activities and the implementation of new equipment update policies, which should support revenue growth [1][15]. - The company is expected to maintain a strong growth trajectory in overseas markets, with a projected revenue increase of 68% from international sales in 2024 [3][9]. Research and Development - The company is increasing its R&D investment, with a projected R&D expense of 165 million yuan in 2025, reflecting a commitment to innovation and product development [10][11]. - The gross margin is expected to decline to 36.6% in 2024, primarily due to changes in product mix, with lower-margin products gaining a larger share of revenue [10][17]. Future Projections - Revenue forecasts for 2025, 2026, and 2027 are 1.947 billion yuan, 2.496 billion yuan, and 3.322 billion yuan, respectively, with year-on-year growth rates of 28%, 28%, and 33% [15][17]. - The projected net profit for the same years is expected to be 191 million yuan, 240 million yuan, and 318 million yuan, with growth rates of 21%, 26%, and 32% [15][17].

Core Viewpoint - WanDong Medical (600055.SH) is facing significant challenges despite apparent revenue growth, including declining net profits, core product price wars, and delays in fundraising projects, alongside governance issues highlighted by recent insider trading scandals [1][2][10] Financial Performance - In 2024, WanDong Medical reported revenue of 1.52 billion yuan, a year-on-year increase of 23.3%, but the net profit attributable to shareholders was only 157 million yuan, down 16.5%, with net profit margin decreasing from 14.8% to 10.3% [3] - The surge in operating costs by 35.01% is a key factor for the profit decline, attributed by management to "product structure upgrades," while market analysts suggest that investments in high-end market technology have not yet yielded returns [3][4] Market Strategy - The company has maintained its position as a "double champion" in both quantity and value in DR equipment procurement, but the unit price has significantly dropped, indicating a price war to maintain market share [4] - The strategy of "exchanging price for volume" has led to a decline in profitability, with net profit dropping 13.41% year-on-year in Q3 2024 [4] Project Delays - Multiple fundraising projects have been collectively delayed, with MRI and DSA products expected to be postponed until the end of 2026, and CT, DR, and DRF projects until the end of 2025 [5] - This delay hinders the company's ability to achieve breakthroughs in technology and catch up in the high-end imaging equipment market [5] Governance Issues - Recent insider trading incidents have raised concerns about the company's internal controls, with a long information leak chain involving executives and intermediaries [2] - The company has also faced regulatory penalties for logistics data errors, indicating weaknesses in its management system [8] Incentive Plans - The company announced a stock option incentive plan covering 12 million options at a strike price of 15.18 yuan, raising questions about the alignment of incentives with value creation amid declining performance [6] International Expansion - Although overseas revenue grew over 90% year-on-year, accounting for 11.19% of total revenue, the company lags behind competitors like United Imaging in global market presence [7] Strategic Recommendations - To overcome current challenges, WanDong Medical must focus on enhancing core product profitability, accelerating new product launches, and improving governance and transparency rather than relying on superficial market strategies [9]

万东医疗发布2024年ESG报告：以科技创新推动可 持续发展 2025年3月21日，北京万东医疗科技股份有限公司(股票代码：600055，以下简称"万东医疗")发布《万 东医疗2024年度环境、社会及公司治理(ESG)报告》。报告全面展示了公司在科技创新、提升医疗可及 性、优化公司治理、绿色发展及社会责任履行等方面的最新实践，展现公司在可持续发展领域的长期承 诺和成果。 创新驱动，打造医学影像"新质生产力" 2024年，万东医疗持续加大研发投入，强化人工智能与医学影像的深度融合，构建数智驱动的创新体 系，推动医学影像设备迈向更高精尖水平，为全球医疗行业提供精准、高效的解决方案。 公司依托"COOLING TECH"打造新质升级的无液氦"000"平台、创新搭载WDL 1024 AI广域深度学习平 台、攻克磁共振重点部位成像难题，相关研究成果登上国际顶刊《Nature》杂志。此外，万东医疗自主 研发的DSA产品成功入选国家高端医疗装备推广应用项目，参与由北京协和医院牵头的"十四五"国家重 点研发计划，承担的重点专项课题"非接触心血管磁共振门控系统技术"研发，填补行业技术空白。近三 年，万东医疗持续推出多款全球首创 ...

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 名额有限 报名：首届全球心血管大会 | 奖项申报 报名：首届全球骨科大会 | 奖项评选 2025年3月22日， 万东医疗 （600055.SH）发布了2024年年报。 # 财报数据 # 关于万东医疗 2024年营业收入 15.24亿 元，同比增长 23.26% ； 归母净利润1.57亿元，同比下降16.54%；扣非归 母净利润1.42亿元，同比增长4.84%；基本每股收益0.22元/股，同比下降16.73%。经营活动产生的现 金流量净额为2.18亿元，同比增长4.82%。 2024Q4营业收入 4.31亿 元，同比增长 38.73% ，环比增长9.74%； 归母净利润0.42亿元，同比下降 39.12%，环比增长34.29%；扣非归母净利润0.31亿元，同比增长1.36%，环比增长4.19%。 分产品：2024年 MRI销量为131套 、同比增长92.65%，收入同比增长75.24%； CT销量为317套 、 同比增长89.82%，收入同比增长55.27%； DSA销量为45套 、同比增长28.57%，收入同比增长 24.90%；DR销量为 ...

北京万东医疗科技股份有限公司 2024 年度独立董事述职报告 根据中国证券监督管理委员会《上市公司独立董事管理办法》、《上 海证券交易所上市公司自律监管指引》以及《北京万东医疗科技股份有限 公司章程》的有关规定，本着客观、独立的原则，现将本人2024年履职情 况报告如下： 一、基本情况 本人孙岩，会计学博士、教授、博士生导师、中国会计学会理事、中 国注册会计师协会非执业会员、全国会计领军人才（学术类）、会计学国 家级一流专业负责人。2009年6月于南开大学取得会计学博士学位，自2009 年7月起历任兰州大学讲师、副教授、教授，期间担任兰州大学管理学院会 计系主任、ACCA项目主任、MPAcc项目主任、运营与财务研究所副所长等职。 2021年7月起任哈尔滨工业大学教授，同年10月起任会计系主任。主持国家 自然科学基金项目2项、教育部人文社科项目2项，主持并参与国家审计署 重大科研项目、黑龙江省高校智库重点项目等十余项。研究成果发表于《审 计研究》《管理评论》及Contemporary Accounting Research (FT 50)、 Accounting Forum (ABS3)等国内外高水平学术期刊， ...