● 本报记者 王婧涵 从通用大模型到智能体，人工智能技术的升级一直是市场关注焦点。从2024年年报看，人工智能产业链 公司业绩大幅增长，应用场景不断落地赋能千行百业，为上市公司提供新发展动能。 AI赋能千行百业 作为未来社会的发展基础，人工智能对传统行业及新兴行业均产生显著影响。不少上市公司通过人工智 能技术赋能生产经营，或是围绕人工智能应用场景开拓新的业务，打造企业第二增长曲线，实现了高质 量发展并提升公司业绩。 在视源股份"未来一节课"体验区，记者体验了人工智能辅助自动生成课件、教案；智能反馈课堂情况、 智能分析学生学情等丰富的教育教学产品。 2024年，视源股份总收入同比提升11.05%，公司围绕视觉、听觉、触觉及数据四大方向推进以人工智 能为核心的技术布局，落地人工智能+教育、人工智能+办公等应用场景，在智能控制部件和智能终端 及应用上实现业绩增长。 视源股份未来教育集团（希沃）副总裁魏振水表示，数智化赋能课堂教学是时代要求，对重构新型教学 关系有重要意义，公司希沃品牌将秉持数智化教育使命，扎根校园、深入校园，通过人工智能和数智化 技术为消除教育行业的数字鸿沟尽一份力。 不仅教育行业，消费、能源、交通 ...

Core Insights - The company reported a revenue of 7.19 billion in 2024, a year-on-year decline of 15.8%, with a net loss attributable to shareholders of 381 million, transitioning from profit to loss [1] - The company aims to enhance operational efficiency and reduce costs, achieving a 15.5% decrease in reagent costs [2] - The company maintains its profit forecasts for 2025 and 2026, with a target price of 31.84, indicating a potential upside of 15.2% from the current stock price [3] Financial Performance - In 2024, the company's third-party medical diagnostic service revenue was 6.63 billion, down 14.2%, with a gross margin of 32.8%, a decrease of 2.7 percentage points [1] - For Q1 2025, the revenue was 1.47 billion, a decline of 20.4%, with a net loss of 27.79 million [1] - The company recorded credit impairment losses of 619 million in 2024 and 106 million in Q1 2025, impacting net profit [1] Operational Developments - The company established two production centers in Changsha and Zhengzhou, focusing on centralized and scaled production of various technology platforms [2] - The company launched its digital pathology system KMDP, serving over 450 clients, and developed an integrated service platform with over 570,000 registered users [2] - The company introduced five data products on the Guangzhou Data Exchange and collaborated with Kangrun Bio to develop an AI-based immunofluorescence detection platform [2] Market Position - Despite short-term pressures in the industry, the company achieved a 2.94% increase in specimen testing volume in 2024, maintaining a leading market share [1] - The company's comprehensive gross margin improved to 33.2% in Q1 2025, up 1.2 percentage points year-on-year [2]

Summary of Jin Domain Medical Conference Call Industry Overview - The external environment, including the US-China trade war and IVD centralized procurement, has significantly impacted the medical and third-party testing industry, leading to challenges for IVD manufacturers in replacing imports and exports [2][4] - Hospitals are under operational pressure, particularly grassroots hospitals, which face funding and human resource constraints, leading to a focus on IVD pricing over quality [2][6] - The normalization of anti-corruption measures is beneficial in the long term but currently causes industry pain [2][5] Key Points and Arguments - **Strategic Focus**: Companies must maintain strategic determination, innovate, and focus on long-term value by providing high-quality services and additional value while reducing costs [2][8] - **Digital Transformation**: Digital transformation is crucial for business development, involving data standardization and the integration of multiple systems to enhance transparency and efficiency [2][9] - **AI Advancements**: The company has made significant progress in AI, with proprietary medical testing algorithms successfully registered and recognized as typical cases of AI in healthcare [2][12][14] - **Third-Party Labs**: Third-party independent medical laboratories play a vital role in balancing clinical needs, quality assurance, and cost control, providing specialized services that can lead to a sustainable development model [2][7] Financial Performance and Market Challenges - The company anticipates that performance in Q1 2024 and Q1 2025 may not meet expectations due to the current policy window period, which presents both challenges and opportunities [3][18] - The company has implemented five key strategic initiatives to ensure execution and address challenges posed by DRG payment reforms and specimen standardization [4][21] - The impact of price reductions in testing projects, such as glycosylated hemoglobin and tumor markers, has led to significant effects on hospital operations, particularly for grassroots hospitals [25][26] Future Directions - The company plans to continue developing multi-modal medical testing models that integrate various diagnostic information to provide more accurate and efficient tools for clinicians [2][15] - There is a focus on establishing a medical testing big data and economic research institute to further integrate data resources [2][15] - The company aims to set standards in China and eventually become a global standard provider for clinical diagnostics while reducing costs [2][15] Digital Transformation and AI Integration - The company has invested heavily in digital transformation over the past five years, achieving significant operational efficiency and cost savings [2][9][11] - AI models have been deployed across various diagnostic fields, significantly improving laboratory diagnostic efficiency and accuracy [2][14] Market Dynamics and Regulatory Environment - The current regulatory environment poses challenges for the third-party testing market, with policies affecting operational stability and market dynamics [21][22] - The company is adapting to frequent policy changes and is focused on maintaining compliance while ensuring sustainable growth [18][22] Conclusion - The company views current challenges as part of its growth journey, emphasizing resilience and potential for future success [61] - Continuous communication with investors and stakeholders is essential for navigating the complexities of the market and ensuring long-term health contributions [60][61]

Core Insights - Jin Yu Medical (金域医学) reported a significant decline in revenue, with a 15.81% year-on-year decrease, resulting in total revenue of 7.19 billion yuan for 2024 [5][7] - The company faced challenges with accounts receivable, which accounted for 42.39% of total assets, amounting to 4.396 billion yuan [7] - Other medical companies, including Meinian Health (美年健康), He Shi Eye Hospital (何氏眼科), and BGI Genomics (华大基因), also reported declines in revenue and net profit, indicating a broader trend in the industry [5][13] Financial Performance - Jin Yu Medical's net profit for 2024 was -381 million yuan, a decrease of 159.26% compared to the previous year [5] - BGI Genomics reported a revenue of 3.867 billion yuan, down 11% year-on-year, with a net profit of -903 million yuan [5][13] - Meinian Health's data resource entry amounted to 9.352 million yuan, with a focus on developing health management products [15] Data Resource Integration - Jin Yu Medical disclosed data resource integration amounting to 7.0083 million yuan, with 3.3544 million yuan classified as development expenses and 3.6538 million yuan recognized as intangible assets [1] - BGI Genomics led the industry with a data resource entry of 9.6217 million yuan, primarily from external data governance platforms [13] - He Shi Eye Hospital reported 905,100 yuan in data resources, all classified as self-developed intangible assets [14] Market Trends - The medical industry is increasingly focusing on data-driven precision medicine, with companies like BGI Genomics and He Shi Eye Hospital investing in comprehensive data management systems [13][14] - Jin Yu Medical is actively participating in the data circulation market, having launched 11 data products for trading and establishing a trusted data space in Guangzhou [9][10] - The trend towards integrating data resources into healthcare solutions is expected to continue, with companies exploring innovative applications in medical decision-making and patient care [14][15]

Core Viewpoint - The financial performance of Guangzhou Kingmed Diagnostics Group Co., Ltd. has significantly declined, with a net profit loss of 3.81 billion yuan in 2024, marking a 159.26% decrease compared to the previous year [2][3][4]. Financial Performance - In 2024, the company reported operating revenue of 7.19 billion yuan, a 15.81% decrease from 8.54 billion yuan in 2023 [2][3]. - The net profit attributable to shareholders was -3.81 billion yuan, down from 6.43 billion yuan in 2023, reflecting a decline of 159.26% [2][4]. - The basic earnings per share were -0.82 yuan, compared to 1.38 yuan in 2023, a decrease of 159.42% [4]. Reasons for Decline - The decline in revenue and profit is attributed to a slowdown in market demand, increased fixed cost amortization, and a decrease in operational leverage efficiency [2][6]. - The company faced significant credit impairment losses due to extended collection periods for accounts receivable, amounting to 6.19 billion yuan in 2024 [6][8]. Cost Management - The company implemented cost control measures, resulting in a reduction of various expenses: sales expenses decreased by 8.32% to 931 million yuan, management expenses fell by 16.32% to 598 million yuan, and R&D expenses dropped by 14.27% to 400 million yuan [7]. - The total number of employees was reduced from 11,586 in 2023 to 10,413 in 2024, with the largest reductions in technical, sales, administrative, and R&D personnel [7]. Bad Debt Issues - The company continues to struggle with bad debt, with accounts receivable totaling 5.88 billion yuan as of December 31, 2024, and a significant portion of this amount remains unresolved [2][8][10]. - The company plans to provision for credit impairment losses between 6.5 billion and 7.2 billion yuan, indicating ongoing challenges in managing receivables [8][10]. Shareholder Actions - Major shareholders began reducing their stakes in the company as early as 2019, with total cashing out amounting to approximately 9 billion yuan before the poor performance in 2024 [3][12]. - Despite the financial losses, the company distributed cash dividends totaling over 600 million yuan in the first three quarters of 2024, raising concerns about prioritizing shareholder returns over long-term company health [11].

一、独立董事基本情况 广州金域医学检验集团股份有限公司 2024 年度独立董事述职报告 本人作为广州金域医学检验集团股份有限公司（以下简称"公司"）第三届 董事会独立董事，严格按照《公司法》、《上市公司独立董事管理办法》、《公 司章程》、《独立董事工作制度》等规定，在任期内忠实履行独立董事的职责， 积极参加股东大会、董事会等会议，认真审议各项议案并对相关事项发表意见， 切实维护公司和全体股东特别是中小股东的合法权益。因任期届满六年，2024 年 2 月起，本人不再担任独立董事及董事会专门委员会相关职务。现就 2024 年 任期期间履职情况汇报如下： 余玉苗,男，出生于 1965 年，中国国籍，无境外永久居留权。博士研究生学 历。1986 年毕业于武汉大学，获得经济学学士；1997 年毕业于武汉大学，获得 经济学博士。1989 年至 1996 年，任武汉大学经济学院会计与审计系讲师；1996 年至 2001 年，任武汉大学经济学院会计与审计系副教授、系副主任；2001 年至 2013 年，任武汉大学经济与管理学院会计系教授、博士生导师、系副主任；曾 任美国加州大学厄湾分校和香港科技大学访问学者；2013 年至今 ...

二、独立董事年度履职情况 （一）出席会议情况 本人在 2024 年度期间严格按照中国证监会、上海证券交易所的有关规定及 《公司章程》等规章制度积极履行职责，积极参加了公司召开的董事会、股东大 会、独立董事专门会议，并参与所属专门委员会会议，不存在应出席而缺席的情 况。本着勤勉尽责的态度，认真审阅了会议议案及相关材料，主动参与各议案的 讨论并提出合理建议，为董事会的正确、科学决策发挥积极作用。 广州金域医学检验集团股份有限公司 2024 年度独立董事述职报告 本人作为广州金域医学检验集团股份有限公司（以下简称"公司"）第四届 董事会独立董事，严格按照《公司法》、《上市公司独立董事管理办法》、《公 司章程》、《独立董事工作制度》等规定，在 2024 年度工作中，忠实履行独立 董事的职责，积极参加股东大会、董事会、各专门委员会等会议，认真审议各项 议案并对相关事项发表意见，切实维护公司和全体股东特别是中小股东的合法权 益。现就 2024 年度履职情况汇报如下： 一、独立董事基本情况 凌健华，男，生于 1957 年，中国国籍，无境外永久居留权。博士研究生学 历。1981 年毕业于英国邓迪大学，获得医学微生物学学士；1 ...

2024 年度独立董事述职报告 本人作为广州金域医学检验集团股份有限公司（以下简称"公司"）第四届 董事会独立董事，严格按照《公司法》、《上市公司独立董事管理办法》、《公 司章程》、《独立董事工作制度》等规定，在 2024 年度工作中，忠实履行独立 董事的职责，积极参加股东大会、董事会、各专门委员会等会议，认真审议各项 议案并对相关事项发表意见，切实维护公司和全体股东特别是中小股东的合法权 益。现就 2024 年度履职情况汇报如下： 一、独立董事基本情况 樊霞，女，出生于 1978 年，中国国籍，无境外居留权，西北工业大学管理 科学与工程专业博士研究生。2006 年 11 月至 2009 年 4 月于华南理工大学工商 管理学院从事博士后研究工作，2008 年 9 月至 2014 年 9 月任华南理工大学工商 管理学院副教授、硕士生导师，2014 年 9 月至今任华南理工大学工商管理学院 教授、博士生导师，技术经济及管理系系主任。具有丰富的技术创新管理、科技 政策及企业风险管理的相关研究、教学经验。2018 年 9 月至今，任中国科学学 与政策研究会产学研合作专委会秘书长、广东机械工业质量管理协会副秘书长。 现 ...

广州金域医学检验集团股份有限公司 2024 年度独立董事述职报告 本人作为广州金域医学检验集团股份有限公司（以下简称"公司"）第三届 董事会独立董事，严格按照《公司法》、《上市公司独立董事管理办法》、《公 司章程》、《独立董事工作制度》等规定，在任期内忠实履行独立董事的职责， 积极参加股东大会、董事会等会议，认真审议各项议案并对相关事项发表意见， 切实维护公司和全体股东特别是中小股东的合法权益。因任期届满六年，2024 年 2 月起，本人不再担任独立董事及董事会专门委员会相关职务。现就 2024 年 任期期间履职情况汇报如下： 一、独立董事基本情况 徐景明，男，出生于 1972 年，中国国籍，无境外永久居留权。硕士研究生 学历。2001 年毕业于中国科学技术大学，获工商管理硕士学位。1993 年至 1998 年，任安徽高科技市场拓展有限公司部门经理；2001 年至 2016 年，历任科大讯 飞股份有限公司总裁办主任兼人力资源总监、副总裁兼董事会秘书；2016 年至 今，任安徽省信息产业投资公司董事长、安徽讯飞产业投资有限责任公司董事长。 2017 年 4 月 18 日至 2024 年 1 月 31 日担任公司 ...

广州金域医学检验集团股份有限公司 2024 年度独立董事述职报告 本人作为广州金域医学检验集团股份有限公司（以下简称"公司"）第四届 董事会独立董事，严格按照《公司法》、《上市公司独立董事管理办法》、《公 司章程》、《独立董事工作制度》等规定，在 2024 年度工作中，忠实履行独立 董事的职责，积极参加股东大会、董事会、各专门委员会等会议，认真审议各项 议案并对相关事项发表意见，切实维护公司和全体股东特别是中小股东的合法权 益。现就 2024 年度履职情况汇报如下： 一、独立董事基本情况 谢获宝，男，出生于 1967 年，中国国籍，无境外永久居留权。中共党员， 经济学博士。现为武汉大学经济与管理学院会计系教授，资本市场财务与会计方 向博士研究生导师，长期从事财务与会计方向的教学、研究，具有丰富的财务管 理、企业风险管理相关教学、研究经验。1993 年至今先后任武汉大学经济与管 理学院会计系讲师、副教授、教授。现任公司独立董事。 作为公司的独立董事，本人拥有专业资质及能力，在从事的专业领域方面积 累了丰富的经验，与公司或公司控股股东无关联关系，未受过中国证监会及其他 有关部门的处罚和证券交易所惩戒，不存在影响公 ...