Investment Rating - The report assigns a "Buy" rating to the company with a target price of 43.13 RMB based on a 2025 PS of 2.5X [3]. Core Viewpoints - The company is expected to continue its digital transformation, with improving cash collection rhythms and a positive long-term growth outlook [2][3]. - The industry has significant room for penetration growth, with the leading companies likely to maintain their competitive edge [1][3]. Summary by Sections Industry Overview - The Independent Clinical Laboratory (ICL) industry in China has a penetration rate of less than 10%, significantly lower than developed countries like Japan, which has a 60% penetration rate, indicating substantial growth potential [7][19]. - The industry is currently in an accelerated development phase, with a trend towards consolidation as smaller players exit the market due to declining demand for specific tests [38][41]. Policy Environment - The implementation of hierarchical diagnosis and treatment, along with medical insurance payment reforms, is driving the growth of the ICL industry [20][23]. - The LDT (Laboratory Developed Tests) pilot programs are being rolled out, allowing for innovation in testing methods and expanding the market for ICL services [26][29]. Company Overview - The company, established in 2003, focuses on third-party medical testing and has a nationwide laboratory network covering 90% of the population [30]. - The company operates 49 self-built laboratories and over 750 cooperative laboratories, making it a market leader in terms of scale and service coverage [30][31]. Financial Performance - The company’s revenue for 2024-2026 is projected to be 76.72 billion, 79.87 billion, and 82.39 billion RMB, respectively, with expected net profits of -3.52 billion, 1.47 billion, and 5.14 billion RMB [3][6]. - The company has experienced a compound annual growth rate (CAGR) of 32.1% in revenue and 54.6% in net profit from 2012 to 2021, although it anticipates a loss in 2024 due to high fixed costs and extended receivables collection periods [31][32]. Digital Transformation - The company is advancing its digital transformation to reduce operational costs, enhance service efficiency, and improve customer experience [48][50]. - The introduction of AI models and digital platforms aims to streamline processes and provide better support for healthcare professionals [49][50].

Summary of Jin Domain Medical Conference Call Company Overview - Jin Domain Medical is a pioneer in China's third-party medical testing industry, established for 30 years, focusing on both core medical testing and the accumulation of professional data from frontline operations [2][4]. Key Achievements and Developments - **Digital Transformation**: Initiated in 2020 due to the COVID-19 pandemic, focusing on technology and data infrastructure, business digitization, and the development of digital business [2]. - **Data Management**: Successfully standardized and structured data management from 23,000 hospitals, laying the groundwork for future AI applications and data products [2]. - **AI Integration**: Since 2014, the company has invested in AI-assisted diagnosis, notably collaborating with Huawei to launch an AI-assisted cervical cancer screening application, improving pathologist efficiency by four times [2][4]. - **Large Model Technology**: Began research in 2019, developing the "Red Leaf Model" and its application "Encounter One Yuan," with a service platform for clinical doctors registering 520,000 users [2][6]. - **Data Volume**: Holds over 24PB of data, with an annual increase of approximately 1PB, covering a wide population and over 4,000 testing items, ensuring high medical value [2][7]. Industry Position and Recognition - **Regulatory Approval**: The only company in the third-party medical testing field to receive algorithm registration from the Central Cyberspace Administration of China, demonstrating algorithm capability and data quality [2][9]. - **Competition and Market Penetration**: Current market penetration is about 10%, significantly lower than in Europe and the US, indicating substantial growth potential [15]. Future Directions - **Continued AI Development**: Plans to deepen research in large model technology, integrating advanced reasoning capabilities like GPT-4 to enhance medical reasoning in complex scenarios [11]. - **Digital Solutions**: Aiming to launch a new generation of digital empowerment solutions for medical communities in 2025, furthering digital transformation efforts [15]. - **Data Trading**: The company has launched data products in a data exchange, targeting pharmaceutical companies, insurance firms, and public health institutions, with a projected market size in the hundreds of billions [22]. Challenges and Responses - **Data Completeness Concerns**: The company assures that its data quality and completeness are among the best in the industry, addressing concerns about training data integrity and clinical decision-making support [10][24]. - **AI Assistant Demand**: Recognizes high demand for AI assistants among grassroots clinical doctors, focusing on developing intelligent solutions tailored to their needs [18]. Revenue Generation - **AI and Digital Tools**: Revenue streams include cost reduction and efficiency improvements, direct sales from COVID-19 screening systems, and empowering upstream and downstream manufacturers with AI capabilities [15][21]. Conclusion - Jin Domain Medical is positioned as a leader in the third-party medical testing industry, leveraging advanced technology and data management to enhance medical services and efficiency, while actively pursuing growth opportunities in AI and digital solutions.

证券代码：603882 证券简称：金域医学 公告编号：2025-013 广州金域医学检验集团股份有限公司 2024 年前三季度 权益分派实施公告 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： 每股分配比例 A 股每股现金红利 0.88 元 相关日期 | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | Ａ股 | 2025/2/20 | － | 2025/2/21 | 2025/2/21 | 差异化分红送转： 否 一、通过分配方案的股东会届次和日期 本次利润分配方案经广州金域医学检验集团股份有限公司（以下简称"公司"） 2025 年 2 月 7 日的 2025 年第一次临时股东会审议通过。 二、分配方案 1.发放年度：2024 年前三季度 2.分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东。 3.分配方案： ...

Summary of Jin Domain Medical Conference Call Company Overview - **Company**: Jin Domain Medical - **Industry**: Medical Diagnostics and AI Integration Key Points and Arguments AI Development and Applications - Jin Domain Medical began exploring AI in 2014 with the "Xiao Jin" model for pathology diagnosis, and in 2023, established a large model project team to enhance AI capabilities [3][4] - The company launched the industry large model "Yujian Yiyan" and the smart application "Xiao Yuyi" in 2024, achieving full-scene intelligence in medical testing services, including experience sharing, report interpretation, project recommendations, and clinical decision support [3][4] - Jin Domain Medical has accumulated 24 petabytes (P) of medical testing data, adding 1P annually, covering 90% of China's population and serving 23,000 hospitals with over 4,000 testing projects, providing a robust data foundation for AI product development [3][5] Data and Compliance - The company received a license from the Guangdong Provincial Department of Science and Technology for an "Open Innovation Platform for AI in Medical Testing and Pathology Diagnosis," allowing for data resource accumulation and ecosystem expansion [6] - Jin Domain Medical emphasizes high-quality data characterized by large volume, wide coverage, and high standardization, adhering strictly to national personal information protection regulations [12] Model Performance and Validation - The integration of the DeepSeek model has significantly improved capabilities in complex scenarios, enhancing logical clarity and interpretability of reasoning processes, although issues with information completeness and hallucination remain [10][24] - The company has validated the model's performance through functional facilities and scenario testing, showing improvements in accuracy and reasoning capabilities [10] Economic Impact and Business Model - Jin Domain Medical's economic returns stem from three main paths: enhancing laboratory efficiency through AI, providing policy services to doctors, and direct monetization of digital products [21] - AI cervical cancer detection has doubled the efficiency of pathologists, increasing sample processing from 10 million to 20 million, while overall efficiency improved fourfold [21] Future Directions and Challenges - The company aims to develop high-quality early screening products by analyzing the relationship between genes and diseases, leveraging AI to enhance the clinical relevance of genetic testing results [26][27] - Jin Domain Medical anticipates the emergence of significant new products that will transform existing diagnostic methods, driven by technological advancements and big data applications [28] Data Utilization and Market Position - Jin Domain Medical's data is not publicly available but is used within alliances of doctors, ensuring compliance and security in data handling [16][17] - The company differentiates itself from other medical software providers by owning the data generated through its testing services, allowing for unique data processing capabilities [17] Conclusion - Jin Domain Medical is at the forefront of integrating AI into medical diagnostics, with a strong focus on data quality, compliance, and innovative applications that enhance efficiency and clinical decision-making, positioning itself for future growth in the evolving healthcare landscape.

股票交易风险提示性公告 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: 公司股票交易连续于 2025 年 2 月 5 日、2 月 6 日、2 月 7 日三个交易日 内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。公司已于 2025 年 2 月 8 日披露了《广州金 域医学检验集团股份有限公司股票交易异常波动公告》（公告编号：2025-011）。 2025 年 2 月 10 日，公司股票再次涨停，近期公司股票价格波动较大。 经财务部门初步测算，预计公司 2024 年度利润将出现亏损。 公司目前生产经营情况正常，主营业务未发生重大变化，市场环境或行 业政策没有发生重大调整。 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。 广州金域医学检验集团股份有限公司（以下简称"公司"）股票交易于2025 年2月5日、2月6日、2月7日连续三个交易日内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，公 司 ...

关于《广州金域医学检验集团股份有限公司股票交易异常 波动有关事项的问询函》的回函 广州金域医学检验集团股份有限公司: 广州金域医学检验集团股份有限公司（以下简称"上市公司"） 发来的《广州金域医学检验集团股份有限公司股票交易异常波动有关 事项的问询函》已收悉。经自查核实,就有关事项回复如下: 本人作为上市公司的控股股东及实际控制人,截至目前,除已在 指定媒体公开披露的信息外,不存在影响上市公司股票价格异常波动 的重大事项,也不存在其他应披露而未披露的重大事项,包括但不限 于重大资产重组、股份发行、收购、债务重组、业务重组、资产剥离、 资产注入、股份回购、股权激励、破产重整、重大业务合作、引进战 略投资者等重大事项。 特此回复。 控股东、实际控制人: 一个 3m Ja 2025年2月7日 关于《广州金域医学检验集团股份有限公司股票交易异常波 动有关事项的问询函》的回函 特此回复。 一致行动人: 200年 = 2月7日 关于《广州金域医学检验集团股份有限公司股票交易异常波 动有关事项的问询函》的回函 广州金域医学检验集团股份有限公司: 广州金域医学检验集团股份有限公司(以下简称"上市公司") 发来的《广州金域医学 ...

重要内容提示： 本次会议是否有否决议案：无 一、会议召开和出席情况 证券代码：603882 证券简称：金域医学 公告编号：2025-010 广州金域医学检验集团股份有限公司 2025 年第一次临时股东会决议公告 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。 (一)股东会召开的时间：2025 年 2 月 7 日 (二)股东会召开的地点：广州市国际生物岛螺旋三路 10 号金域医学总部大楼 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： | 1、出席会议的股东和代理人人数 | 661 | | --- | --- | | 2、出席会议的股东所持有表决权的股份总数（股） | 226,946,808 | | 3、出席会议的股东所持有表决权股份数占公司有表决权股 | 48.9892 | | 份总数的比例（%） | | (四)表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次会议由董事会召集，公司董事长梁耀铭先生主持，本次会议的召集、召 开及表决形式均符合《公司法》及《公司章程》的规定。 (五)公司 ...

证券代码：603882 证券简称：金域医学 公告编号：2025-011 广州金域医学检验集团股份有限公司 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: 公司股票交易连续三个交易日内（2025 年 2 月 5 日、2 月 6 日、2 月 7 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。 1 经公司自查，并书面征询控股股东、实际控制人及其一致行动人，截至 本公告披露日，除已在指定媒体公开披露的信息外，确认不存在应披露而未披露 的重大事项或重要信息。 敬请广大投资者审慎投资、注意风险。 一、股票交易异常波动的具体情况 广州金域医学检验集团股份有限公司（以下简称"公司"）股票交易连续三 个交易日内（2025年2月5日、2月6日、2月7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。 二、公司关注并核实的相关情况 针对公司股票异常波动，公司对有关事项进行了核查，并问询了控股 ...

北京市中伦律师事务所 关于广州金域医学检验集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 二〇二五年二月 北京市中伦律师事务所 关于广州金域医学检验集团股份有限公司 2025 年第一次临时股东大会的 法律意见书 致：广州金域医学检验集团股份有限公司 北京市中伦律师事务所（以下简称"本所"）作为广州金域医学检验集团股 份有限公司（以下简称"公司"）的常年法律顾问，受公司委托，指派律师出席 公司 2025 年第一次临时股东会（以下简称"本次股东会"）。本所律师根据《中 华人民共和国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》 （以下简称"《证券法》"）、《上市公司股东大会规则》（以下简称"《股东 大会规则》"）等有关法律、法规、规范性文件及《广州金域医学检验集团股份 有限公司章程》（以下简称"《公司章程》"）的规定，对本次股东会进行见证 并出具法律意见。 为出具本法律意见书，本所律师审查了公司本次股东会的有关文件和材料。 本所律师得到公司如下保证，即其已提供了本所律师认为作为出具本法律意见书 所必需的材料，所提供的原始材料、副本、复印件等材料、口头证言均符合真实、 准确、完整的要求 ...

广州金域医学检验集团股份有限公司 2025 年第一次临时股东会 会议资料 $$\Xi{\cal O}\,{\underline{{{=}}}}\,\Xi\,\rlap{/}\,\Xi\,\rlap{/}\,\Xi\,\rlap{/}\,\Xi$$ 广州金域医学检验集团股份有限公司 2025 年第一次临时股东会会议资料 目录 | 广州金域医学检验集团股份有限公司 2025 | 年第一次临时股东会会议议程 3 | | --- | --- | | 广州金域医学检验集团股份有限公司 2025 | 年第一次临时股东会会议须知 5 | | 议案一：关于预计与广州金墁利医药科技有限公司 | 2025 年度日常关联交易的议 | | 案 7 | | | 议案二：广州金域医学检验集团股份有限公司 | 2024 年前三季度利润分配预案11 | 2 广州金域医学检验集团股份有限公司 2025 年第一次临时股东会会议资料 广州金域医学检验集团股份有限公司 2025 年第一次临时股东会会议议程 会议时间：2025 年 2 月 7 日 14:30 网络投票时间：2025 年 2 月 7 日 网络投票起止时间：采用上海证券交易所网络投票系统 ...