Group 1 - The core point of the article is that Hefei China (603122) announced a decrease in consolidated operating revenue for January 2026, amounting to 53.021 million yuan, which represents a year-on-year decline of 10.24% [1]

Core Viewpoint - The company, HeFu China (603122.SH), reported a consolidated revenue of RMB 53.021 million for January 2026, reflecting a decrease of 10.24% compared to the same period last year [1] Group 1 - The consolidated revenue for January 2026 is RMB 53.021 million [1] - The revenue decreased by 10.24% year-on-year [1]

Group 1 - The core point of the article is that HeFu China (603122.SH) reported a consolidated revenue of RMB 53.021 million for January 2026, which represents a decrease of 10.24% compared to the same period last year [1]

合富（中国）医疗科技股份有限公司董事会 2026 年 2 月 11 日 1 合富（中国）医疗科技股份有限公司（以下简称"公司"）之间接控股股东 合富医疗控股股份有限公司（以下简称"合富控股"）为台湾地区证券柜台买 卖中心上柜公司，合富控股需按照台湾证券交易所相关规定，每月披露营业收 入数据。为使 A 股投资者能够及时了解公司的经营情况，本公司亦同步在上海 证券交易所指定的信息披露媒体《上海证券报》和上海证券交易所网站 （http://www.sse.com.cn）上披露本公司营业收入。本简报为初步核算数据， 未经会计师事务所审计或审阅，最终数据以公司定期报告为准，敬请投资者注 意投资风险。 公司 2026 年 1 月合并营业收入为人民币 5,302.10 万元，较去年同期的合并 营业收入减少 10.24%。 特此公告。 证券代码：603122 证券简称：合富中国 公告编号：临 2026-007 合富（中国）医疗科技股份有限公司 2026 年 1 月营业收入简报 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。 ...

Group 1 - The core point of the article is that HeFu China (603122.SH) reported a consolidated revenue of RMB 53.021 million for January 2026, which represents a decrease of 10.24% compared to the same period last year [1]

Core Viewpoint - The company reported a consolidated revenue of RMB 53.021 million for January 2026, reflecting a decrease of 10.24% compared to the same period last year [1] Group 1 - The consolidated revenue for January 2026 is RMB 53.021 million [1] - This represents a year-on-year decrease of 10.24% in consolidated revenue [1]

Core Viewpoint - The AI healthcare sector experienced a decline of 1.05% on February 6, with significant outflows of capital from major funds [1] Market Performance - The Shanghai Composite Index closed at 4065.58, down 0.25% [1] - The Shenzhen Component Index closed at 13906.73, down 0.33% [1] Capital Flow - The AI healthcare sector saw a net outflow of 2.112 billion yuan from major funds [1] - Retail investors contributed a net inflow of 1.881 billion yuan [1] - Speculative funds recorded a net inflow of 231 million yuan [1]

Core Viewpoint - The medical consumables supply chain SPD sector experienced a decline of 0.87% on February 6, with significant losses led by Cheung Fat China [1] Group 1: Market Performance - On February 6, the Shanghai Composite Index closed at 4065.58, down 0.25% [1] - The Shenzhen Component Index closed at 13906.73, down 0.33% [1] Group 2: Capital Flow - The medical consumables supply chain SPD sector saw a net outflow of 216 million yuan from main funds, while retail investors contributed a net inflow of 201 million yuan [1] - Speculative funds recorded a net inflow of 15.24 million yuan into the sector [1]

Core Viewpoint - The long-term procurement agreement between HeFu China and Mingji Hospital is based on strategic alignment and historical procurement data, with a minimum purchase amount of 600 million yuan over 8 years [1][2]. Group 1: Agreement Details - The long-term procurement agreement stipulates that Mingji Hospital will purchase in vitro diagnostic reagents and consumables from HeFu China, with a total minimum purchase amount of 600 million yuan over 96 months [1]. - The agreement includes exclusive supply arrangements, which may be affected by changes in the competitive environment [1]. - The minimum purchase amount is based on historical procurement data from Mingji Hospital, indicating a strong alignment with past purchasing patterns [2]. Group 2: Financial Implications - Mingji Hospital's procurement costs for drugs and medical consumables from 2022 to 2024 are projected to be 896 million yuan, 1.056 billion yuan, and 1.034 billion yuan, respectively, with a compound annual growth rate of 7.2% [2]. - The minimum purchase amount agreed upon is significantly lower than Mingji Hospital's total procurement costs, suggesting clear commercial rationale [2]. - The long-term agreement is expected to positively impact HeFu China's revenue, with the agreement amount accounting for over 50% of the company's most recent revenue [4]. Group 3: Risks and Management - The feasibility of achieving the minimum purchase amount is a key concern, with HeFu China citing historical data and expansion plans as supportive factors [3]. - The company acknowledges potential uncertainties due to market adjustments and macro policies, which could affect the realization of the minimum purchase amount [3]. - HeFu China plans to conduct annual reviews with Mingji Hospital to monitor procurement execution and address any emerging risks [3]. Group 4: Company Performance - HeFu China is facing its first loss since going public, with a projected net profit of -36 million to -25 million yuan for 2025, primarily due to domestic medical policy impacts and declining product prices [3]. - Despite the current challenges, HeFu China anticipates that its investments in intelligent products will drive future growth, unaffected by government procurement policies [3].

Group 1 - The SPD sector of the medical consumables supply chain increased by 0.24% compared to the previous trading day, with HeFu China leading the gains [1] - The Shanghai Composite Index closed at 4075.92, down 0.64%, while the Shenzhen Component Index closed at 13952.71, down 1.44% [1] - HeFu China saw a closing price of 19.69, with a rise of 6.72% and a trading volume of 699,400 shares, amounting to a transaction value of 1.354 billion yuan [1] Group 2 - The SPD sector experienced a net outflow of 8.4667 million yuan from institutional funds, while retail funds saw a net outflow of 7.3756 million yuan [2] - The top individual stocks in terms of net inflow included HeFu China with a net inflow of 109 million yuan from institutional investors [3] - The stock with the highest retail net inflow was HeFu China, despite a significant net outflow from institutional and retail investors [3]