| 证券代码：603716 | 证券简称：塞力医疗 | 公告编号：2025-067 | | --- | --- | --- | | 债券代码：113601 | 债券简称：塞力转债 | | 塞力斯医疗科技集团股份有限公司 股票交易异常波动公告 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。 重要内容提示： 塞力斯医疗科技集团股份有限公司（以下简称"公司"）股票连续3个交 易日内日收盘价格涨幅偏离值累计超过20%，根据《上海证券交易所交易规则》 的有关规定，属于股票交易异常波动情形。 经公司自查，并向控股股东赛海（上海）健康科技有限公司（以下简称 "赛海科技"）及实际控制人温伟先生发函核实，截至本公告披露日，控股股东 及实际控制人不存在应披露而未披露的重大信息，包括但不限于重大资产重组、 股份发行、重大交易类事项、业务重组、股份回购、破产重整、重大业务合作、 引进战略投资者等重大事项。 风险提示详见本公告"三、相关风险提示"，公司倡导价值投资并专注 于主业的发展，敬请广大投资者注意二级市场交易风险，理性决策，审慎投资。 （一）生产 ...

Group 1 - The core viewpoint of the articles highlights the increasing activity in the innovative drug sector, driven by favorable government policies and the introduction of a commercial health insurance directory for innovative drugs [1][2] - Since 2025, the government has proposed multiple policies to optimize drug procurement and support innovative drugs, indicating a positive policy environment for the pharmaceutical industry [1] - The 11th batch of national drug procurement is underway, with expectations for optimized rules and price reductions, moving away from a focus on minimum pricing to a more quality-controlled approach [1] Group 2 - Ever since the 14th Five-Year Plan, a total of 402 new drugs have been included in the medical insurance directory, with innovative drug spending projected to reach 3.9 times that of 2020 by 2024, reflecting a 40% annual growth rate [2] - The establishment of a commercial health insurance directory for innovative drugs will provide a supplementary payment channel for drugs not included in the national medical insurance directory, with over 100 drugs already submitted for approval [2] - The precise adjustment of medical insurance policies is reshaping the pharmaceutical industry ecosystem, transitioning from price wars to value wars, and clearing out low-quality production capacity to create market space for high-quality enterprises [2]

Core Viewpoint - The company, Saily Medical, has experienced a significant stock price increase of over 250% this year, despite reporting a tenfold increase in losses for the first half of 2025, highlighting a stark contrast between stock performance and financial results [2][9]. Financial Performance - The company expects a net loss attributable to shareholders of between 55 million to 66 million yuan for the first half of 2025, which is an increase in losses of 50.23 million to 61.23 million yuan compared to the same period last year [3]. - The first quarter of 2025 showed a net loss of 14.32 million yuan, indicating a worsening trend in the second quarter [3][6]. - Revenue for the first half of 2025 is projected to decline by 40.75% compared to the previous year, with a significant drop in net profit of 553.66% [4][6]. Business Operations - The company has been trapped in a cycle of increasing revenue without corresponding profit since 2020, with a net profit loss that has expanded for four consecutive years [4][6]. - The main business areas, particularly the SPD business, are showing signs of fatigue, with revenue growth of only 10.23% in 2024, while costs have risen nearly in tandem, leading to minimal improvement in gross margins [6][10]. Market Position and Investor Sentiment - Despite the financial struggles, Saily Medical's stock price has surged, creating a disconnect between market valuation and financial fundamentals, raising concerns about sustainability [10][14]. - Analysts suggest that the current high valuation may not be supported by the company's fundamentals, and caution against blindly following market trends without a thorough analysis of the company's core business improvements [10][14]. Strategic Direction and Challenges - The company is focusing on a transformation towards medical intelligence, including areas like brain-computer interfaces and innovative drugs, but faces skepticism regarding the feasibility and timeline of these initiatives [10][12]. - R&D investment remains low, with only 2.58% of revenue allocated to R&D in 2024, which is insufficient to support the ambitious multi-line strategy [10][12]. Financial Health and Credit Rating - Saily Medical has faced liquidity pressures, with multiple instances of overdue repayment of raised funds, leading to criticism of management [12][13]. - The company's credit rating was downgraded from "BBB-" to "BB+" due to increasing losses, long customer payment cycles, and high financial leverage, indicating a deteriorating financial outlook [14].

Market Overview - As of July 23, the Shanghai Composite Index closed at 3582.30 points, with a slight increase of 0.44 points, representing a change of 0.01% [1] - The Shenzhen Component Index closed at 11059.04 points, down by 40.79 points, a decrease of 0.37% [1] - The ChiNext Index closed at 2310.67 points, with a minor decline of 0.19 points, or 0.01% [1] Trading Activity - A total of 101 A-shares had a turnover rate exceeding 20% on this day, indicating significant trading activity [1] - Notably, C Shanda and C Jiyuan had turnover rates above 50%, with 82.89% and 80.75% respectively, indicating a high level of liquidity and interest in these stocks [1] Top Stocks by Turnover Rate - C Shanda (301609) closed at 66.85 CNY, with a turnover rate of 82.89% and a remarkable increase of 356.00% [1] - C Jiyuan (603262) closed at 40.75 CNY, with a turnover rate of 80.75% and a significant rise of 274.54% [1] - Other notable stocks with high turnover rates include: - Guanlong Energy (301151) at 24.11 CNY, turnover rate of 72.29%, down by 5.67% [1] - Weiman Sealing (301161) at 29.81 CNY, turnover rate of 66.12%, down by 16.05% [1] - Southern Road Machinery (603280) at 34.75 CNY, turnover rate of 64.76%, up by 10.00% [1] Additional Noteworthy Stocks - Other stocks with notable trading activity include: - Sichuan Jinding (600678) at 11.15 CNY, turnover rate of 51.91%, down by 4.21% [1] - Baijia Technology (835857) at 9.56 CNY, turnover rate of 47.74%, up by 17.16% [1] - Jindun Co. (300411) at 15.77 CNY, turnover rate of 43.27%, down by 1.93% [1]

Group 1 - The DRG/DIP concept increased by 0.27%, ranking 10th among concept sectors, with 8 stocks rising, including Saily Medical which hit the daily limit, and Jiayuan Technology, Jiahe Meikang, and Huayu Software showing gains of 4.63%, 3.85%, and 1.75% respectively [1][2] - The leading decliners in the sector included Kechuang Information, Rongke Technology, and Maidi Technology, which fell by 6.02%, 2.53%, and 2.00% respectively [1][2] Group 2 - The DRG/DIP concept sector saw a net inflow of 362 million yuan, with 14 stocks receiving net inflows, and 7 stocks exceeding 10 million yuan in net inflow [2][3] - Saily Medical led the net inflow with 336 million yuan, followed by Donghua Software, Jiayuan Technology, and Jiuyuan Yinhai with net inflows of 40.39 million yuan, 16.30 million yuan, and 16.22 million yuan respectively [2][3] Group 3 - In terms of net inflow ratios, Saily Medical, Jiayuan Technology, and Jiuyuan Yinhai had the highest ratios at 21.82%, 6.22%, and 5.62% respectively [3][4] - The trading volume and turnover rates for Saily Medical were notably high, with a turnover rate of 28.92% and a daily increase of 10.01% [3][4]

Group 1 - The cell immunotherapy concept index rose by 0.56%, ranking fourth among concept sectors, with 25 stocks increasing in value [1] - Notable gainers included Nanjing Xinbai, Saily Medical, and *ST Biology, which reached their daily limit up, with increases of 8.61%, 7.86%, and 7.18% respectively [1] - The largest declines were seen in Chengda Pharmaceutical, Hainan Haiyao, and Jiuzhitang, with decreases of 13.12%, 6.31%, and 5.07% respectively [1] Group 2 - The cell immunotherapy sector experienced a net outflow of 213 million yuan in main funds, with 27 stocks seeing net inflows [2] - Saily Medical led the net inflow with 336 million yuan, followed by Zhaoyan New Drug, Nanjing Xinbai, and Northeast Pharmaceutical with net inflows of 203 million yuan, 111 million yuan, and 77.41 million yuan respectively [2] - The net inflow ratios for Nanjing Xinbai, Saily Medical, and Zhaoyan New Drug were 43.57%, 21.82%, and 12.72% respectively [3] Group 3 - The cell immunotherapy sector's performance was highlighted by the significant trading volumes and turnover rates of leading stocks, indicating strong investor interest [3][4] - Stocks like Saily Medical and Nanjing Xinbai showed high turnover rates of 28.92% and 2.96% respectively, reflecting active trading [3] - The overall market sentiment in the cell immunotherapy sector remains positive despite some individual stock declines [2][6]

Group 1 - The stock of Sely Medical (603716) increased by 1.65% with a turnover rate of 31.95% and a trading volume of 1.591 billion yuan, showing a fluctuation of 9.44% [1] - Institutional investors net bought 82.4985 million yuan, while brokerage seats collectively net sold 34.0815 million yuan [1][2] - The stock was listed on the trading board due to a daily turnover rate of 29.57%, with the top five trading departments having a total transaction of 372 million yuan, resulting in a net purchase of 48.417 million yuan [2][3] Group 2 - Over the past six months, the stock has appeared on the trading board 31 times, with an average price increase of 1.21% the day after being listed and an average increase of 3.99% in the following five days [4] - The stock saw a net inflow of 18.3451 million yuan today, with a significant single order net inflow of 25.2854 million yuan, while large orders experienced a net outflow of 6.9403 million yuan [4] - The company's Q1 report indicated a revenue of 287 million yuan, a year-on-year decrease of 40.75%, and a net loss of 14.3209 million yuan [4] Group 3 - On July 15, the company forecasted a net loss for the first half of the year between 55 million yuan and 66 million yuan [5] - The trading data on July 22 showed significant buying from various brokerage firms, with the top buyer being Guotai Junan Securities Headquarters, purchasing 92.1655 million yuan [5]

Core Viewpoint - The company, Seer Medical Technology Group Co., Ltd., has decided not to exercise the early redemption rights for its convertible bonds, despite meeting the conditions for redemption due to stock price performance [1][6]. Group 1: Convertible Bond Redemption - The company's stock price has met the condition of being above 130% of the conversion price for at least 15 trading days within a 30-day period, triggering the redemption clause for the "Seer Convertible Bonds" [1][6]. - The board of directors has resolved not to redeem the "Seer Convertible Bonds" early, considering current market conditions and the protection of investor interests [1][7]. - The company will not exercise the early redemption rights for the next three months, and if the redemption conditions are met again after October 21, 2025, the board will reconvene to decide on the matter [1][6]. Group 2: Convertible Bond Issuance and Terms - The company issued 5.4331 million convertible bonds at a face value of 100 yuan each, totaling 534.698 million yuan, with the net proceeds after expenses amounting to 532.698 million yuan [1][2]. - The initial conversion price was set at 16.98 yuan per share, with the conversion period running from March 1, 2021, to August 20, 2026 [2][3]. - The conversion price has been adjusted multiple times, with the latest adjustment reducing it from 12.50 yuan to 12.00 yuan per share, effective from February 6, 2025 [5][6]. Group 3: Compliance and Oversight - The company has adhered to necessary decision-making procedures regarding the non-redemption of the convertible bonds, in compliance with relevant regulations and guidelines [7][8]. - The sponsor institution has confirmed that the decision not to redeem the bonds early is in line with legal requirements and the company's offering documents [7][8].

信达证券股份有限公司 关于塞力斯医疗科技集团股份有限公司 不提前赎回"塞力转债"的核查意见 信达证券股份有限公司（以下简称"信达证券""保荐机构"）作为塞力斯医 疗科技集团股份有限公司（以下简称"塞力医疗""公司"）公开发行可转换公司 债券的保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股 票上市规则》《上海证券交易所上市公司自律监管指引第 1 号——规范运作》及 《上海证券交易所上市公司自律监管指引第 12 号——可转换公司债券》等相关 规定，经审慎核查，就塞力医疗不行使"塞力转债"的提前赎回权利，发表如下 核查意见： 一、可转换公司债券发行上市概况 （一）可转换公司债券发行情况 二次下修转债转股价格：经 2024 年第五次临时股东大会审议通过并授权董 事会根据《募集说明书》中相关条款办理本次向下修正转股价格相关事宜，包括 确定本次修正后的转股价格、生效日期以及其他必要事项，并全权办理相关手续。 公司同日于 2024 年 10 月 24 日召开第五届董事会第七次会议，审议通过了《关 于确定向下修正"塞力转债"转股价格的议案》，同意将"塞力转债"转股价格由 13.71 元/股向下修正为 12. ...

| 证券简称：塞力医疗 | 公告编号：2025-066 | | --- | --- | | 债券简称：塞力转债 | | | 证券代码：603716 债券代码：113601 | | 塞力斯医疗科技集团股份有限公司 关于不提前赎回"塞力转债"的公告 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。 重要内容提示： 塞力斯医疗科技集团股份有限公司（以下简称"公司"或"塞力医疗"） 股票自2025年7月1日至7月21日期间，已满足连续三十个交易日中至少有十五个 交易日的收盘价不低于当期转股价格的130%（即15.60元/股），已触发"塞力转 债"的赎回条款。公司董事会决定本次不行使"塞力转债"的提前赎回权利，不 提前赎回"塞力转债"。 未来三个月内（即2025年7月22日至2025年10月21日），如公司触发"塞 力转债"的赎回条款均不行使"塞力转债"的提前赎回权利。以2025年10月21 日之后的首个交易日重新起算，若"塞力转债"再次触发赎回条款，届时公司董 事会将再次召开会议决定是否行使"塞力转债"的提前赎回权利。 一、可转换公司债 ...