Core Viewpoint - The company has developed ultrasound intelligent technology that integrates dynamic image recognition, automatic disease detection and measurement, and optimized intelligent diagnostic processes, establishing a comprehensive intelligent standard framework for medical diagnostics [1] Group 1: Technology Development - The ultrasound intelligent technology enables a three-in-one service network for "precise screening, intelligent diagnosis, and personalized rehabilitation" [1] - The technology combines ultrasound, robotics, and artificial intelligence to address the challenges of mass screening for breast cancer in China [1] Group 2: Application and Impact - An example of this technology is the "breast artificial intelligence ultrasound robot," which aims to create a broad patient screening entry point [1] - The company is gradually forming a breast health management model that encompasses screening, diagnosis, and data tracking management [1]

Company Overview - Xiangsheng Medical's closing price on August 4 was 33.86 yuan, with a 2.20% increase, resulting in a rolling PE ratio of 27.80, the lowest in 99 days, and a total market value of 3.797 billion yuan [1] - The company specializes in the research, manufacturing, and sales of ultrasound medical imaging equipment, and has been selected as a "Little Giant" enterprise for the 2024 National Specialized and Innovative [1] Financial Performance - For the first quarter of 2025, Xiangsheng Medical reported revenue of 128 million yuan, a year-on-year decrease of 9.16%, and a net profit of 41.6145 million yuan, down 8.62%, with a gross profit margin of 61.33% [1] Industry Comparison - The average PE ratio for the medical device industry is 54.32, with a median of 38.11, placing Xiangsheng Medical at the 55th position in the industry [1] - The company's PE (TTM) is 27.80, while the industry average is significantly higher at 54.32, indicating a potential undervaluation compared to peers [2]

资金流向方面，7月30日主力资金净流出432.93万元，占流通市值的0.12%。 风险提示：股市有风险，投资需谨慎。 来源:金融界 截至2025年7月30日收盘，祥生医疗股价报32.20元，较前一交易日下跌0.28元，跌幅0.86%。当日成交 额0.55亿元，成交量1.7万手，振幅3.20%。 祥生医疗是一家专注于超声医学影像设备研发、生产和销售的企业，产品涵盖全数字超声诊断系统及相 关技术服务。公司所属行业为医疗器械，并涉及人工智能等概念。 ...

Policy Developments - The National Health Commission issued a work plan for the integration of medical and elderly care services, promoting the establishment of national demonstration counties and institutions [2] - The criteria for creating demonstration institutions include operating for over 5 years, a bed occupancy rate of at least 65% in the last 2 years, and over 65% of residents being elderly individuals with disabilities or dementia [2] - The plan emphasizes comprehensive health assessments for the elderly, early intervention for age-related diseases, and the use of traditional Chinese medicine and information technology to enhance service quality [2] Drug and Device Approvals - Humanwell Healthcare announced that its subsidiary received a drug registration certificate for the transdermal patch for treating mild to moderate Alzheimer's disease, with a total R&D investment of approximately RMB 19 million [4] - Kehua Bio received medical device registration certificates for two nucleic acid testing kits, valid until July 16, 2030 [5] Financial Reports - Wohua Pharmaceutical reported a 303.16% year-on-year increase in net profit for the first half of the year, with revenue of RMB 425 million, a 7.64% increase [7] Capital Market Activities - Xiangsheng Medical signed an agreement with the Gates Foundation for the joint development and promotion of innovative obstetric and breast ultrasound screening devices, receiving project funding of USD 2.1 million [9] - Sanofi announced a deal to acquire Vicebio for up to USD 1.6 billion, including an upfront payment of USD 1.15 billion and milestone payments of USD 450 million [11] Industry Developments - The National Medical Insurance Administration reported that from January to June 2025, there were 200 million instances of personal account pooling in employee medical insurance, amounting to RMB 26.177 billion [13]

证券代码：688358 证券简称：祥生医疗 公告编号：2025-018 无锡祥生医疗科技股份有限公司 自愿披露关于与盖茨基金会签署联合开发 基本情况：盖茨基金会（前身 BILL & MELINDA GATES FOUNDATION 即 比尔及梅琳达·盖茨基金会）成立于 2000 年，总部设在美国西雅图。其秉承所有 生命价值平等的信念，致力于将人类的创新才能应用于减少健康和发展领域的不 平等现象。基金会资助新想法，以对抗贫困、疾病以及医疗卫生资源、教育和经 济发展机会短缺等问题，开发并且鼓励新型伙伴关系，确保共有的资源能为最广 泛的人群带来最大的益处。基金会愿景是一个人人都有机会过上健康而富有成效 生活的世界。 二、协议的主要内容 根据协议，盖茨基金会将向公司提供合计 210 万美元的项目资助，以支持公 司开发并推广创新型产科及乳腺超声筛查设备。盖茨基金会将根据项目研发目标 /里程碑的达成情况，按约定的付款时间表分阶段支付项目资金。 该项目产品旨在开发创新型超声解决方案。通过在超声设备上集成智能化的 产前辅助筛查和乳腺病变筛查功能，利用智能化分析盲扫获取的超声视频，实现 智能识别产前及围产期妇女的关键高危妊娠风 ...

祥生医疗公告，公司于近日与盖茨基金会签署了关于联合开发并推广创新型产科及乳腺超声筛查设备协 议。根据协议，盖茨基金会将向公司提供合计210万美元的项目资助，以支持公司开发并推广创新型产 科及乳腺超声筛查设备。 ...

Group 1 - The core viewpoint of the article highlights that Wuxi Xiangsheng Medical Technology Co., Ltd. has successfully obtained the EU Medical Devices Regulation (MDR) certification for its entire range of digital color ultrasound diagnostic products, marking a significant achievement in aligning with international safety and quality standards [1][2] - The MDR certification serves as a "hard currency" for entering the EU market and provides strong international credibility for the company's expansion into potential markets in Asia-Pacific, the Middle East, and Latin America [1] - Xiangsheng Medical has established a comprehensive technological capability in ultrasound imaging, covering various aspects from core components to clinical applications, thereby creating differentiated advantages in portability, specialization, and intelligence [1][2] Group 2 - The company's products are already utilized in over 30% of tertiary hospitals in China and have been exported to more than 100 countries and regions globally, establishing solid strategic partnerships with renowned international medical device companies [2] - In the field of ultrasound AI diagnostics, Xiangsheng Medical has developed an intelligent standard framework that encompasses device research and development, image acquisition, and diagnostic decision-making, with its breast ultrasound analysis software receiving medical device registration approval in 2022 [2] - The company aims to enhance its global market penetration with the MDR certification as a new starting point, focusing on providing smarter, more precise, and more accessible ultrasound diagnostic services worldwide, thereby strengthening the "China Intelligent Manufacturing" brand in the high-end medical device sector [2]

Core Viewpoint - Xiangsheng Medical (688358) announced a cash dividend distribution of 10 CNY per 10 shares, totaling 111,874,753 CNY, which represents 79.62% of the company's net profit attributable to shareholders for the year [1][2][4] Trading Information Summary - On July 8, 2025, Xiangsheng Medical's stock closed at 29.9 CNY, with a slight decline of 0.07%. The turnover rate was 0.93%, with a trading volume of 10,400 shares and a total transaction value of 31,227,400 CNY [1] - The fund flow on the same day showed a net outflow of 480,670 CNY from main funds, accounting for 15.39% of the total transaction value, while retail funds had a net inflow of 598,990 CNY, representing 19.18% of the total [1][4] Company Announcement Summary - Xiangsheng Medical's 2024 annual profit distribution plan includes a cash dividend of 10 CNY per 10 shares (before tax), with the base for distribution being 111,874,753 shares after deducting 249,784 shares held in the repurchase account [1][2] - The dividend distribution will not involve capital reserve conversion into share capital or the issuance of bonus shares. The record date for the dividend is July 14, 2025, and the ex-dividend date and payment date are both set for July 15, 2025 [1][2]

Core Viewpoint - The legal opinion issued by Shanghai Tongli Law Firm confirms that the differentiated dividend distribution plan proposed by Wuxi Xiangsheng Medical Technology Co., Ltd. complies with relevant laws and regulations, and does not harm the interests of the company and its shareholders [4][7]. Group 1: Differentiated Dividend Distribution - The differentiated dividend distribution is necessitated by the company's share repurchase plan, which involves using self-owned funds to repurchase A-shares for employee stock ownership plans, with a repurchase price not exceeding RMB 62.05 per share and a total repurchase amount between RMB 10 million and RMB 20 million [4][5]. - As of the date of the legal opinion, the company has repurchased a total of 249,784 shares, which will not participate in the profit distribution for the fiscal year 2024, leading to a discrepancy between the total share capital and the shares participating in profit distribution [5][6]. Group 2: Impact on Share Price - The differentiated dividend distribution will adjust the base for profit distribution by deducting the shares held in the repurchase account from the total share capital, while maintaining the per-share distribution ratio [6]. - The estimated impact of the differentiated dividend on the ex-dividend reference price is less than 1%, indicating that it will not significantly affect the company's share price [6][7]. Group 3: Legal Compliance - The legal opinion asserts that the differentiated dividend distribution does not violate the Company Law, Securities Law, self-regulatory guidelines, or the company's articles of association, and confirms that it does not harm the interests of the company or its shareholders [4][7].

Core Points - The company plans to distribute a cash dividend of 1 yuan per share to all shareholders, approved at the 2024 annual general meeting on May 16, 2025 [1][2] - The total number of shares eligible for the dividend is 111,874,753 shares after excluding shares in the company's repurchase account, resulting in a total cash dividend distribution of 111,874,753 yuan, which accounts for 79.62% of the company's net profit attributable to shareholders for the year [2][3] - The company will not issue bonus shares or increase capital reserves this year [2] Dividend Distribution Details - The cash dividend distribution will be based on the total number of shares registered by the close of trading on the equity registration date [1][3] - The reference price for ex-dividend trading will be calculated using the formula: (previous closing price - cash dividend) / (1 + change in circulating shares ratio), with the circulating shares ratio being 0 due to no changes in circulating shares [3] - The virtual cash dividend per share is approximately 0.9978 yuan, calculated based on the total shares participating in the distribution [3] Tax Implications - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax, resulting in a net distribution of 1 yuan per share [6][7] - For shares held for less than one year, the company will not withhold personal income tax at the time of distribution, but tax will be calculated and withheld upon the sale of shares [6][8] - For qualified foreign institutional investors (QFII), a 10% withholding tax will apply, resulting in a net cash dividend of 0.9 yuan per share [7][8]