Core Viewpoint - Anbiping experienced a decline of 5.14% in stock price, closing at 24.34 CNY per share, with a total market capitalization of 2.277 billion CNY [1] Company Overview - Guangzhou Anbiping Medical Technology Co., Ltd. was established on July 6, 2005, and went public on August 20, 2020. The company specializes in the research, production, and sales of in vitro diagnostic reagents and instruments [1] - The revenue composition of the company includes: self-produced products (79.72%), purchased products (13.11%), service income (5.90%), and other (1.27%) [1] Shareholder Information - Changcheng Fund's Changcheng Consumption Value Mixed A (200006) is among the top ten circulating shareholders of Anbiping, holding 850,000 shares, which represents 0.91% of the circulating shares [2] - The fund has not changed its shareholding compared to the previous period, and the estimated floating loss today is approximately 1.122 million CNY [2] Fund Manager Profile - The fund manager of Changcheng Consumption Value Mixed A is Long Yufei, who has been in the position for 8 years and 14 days. The total asset size of the fund is 843 million CNY [3] - During Long Yufei's tenure, the best fund return was 61.42%, while the worst return was -8.9% [3]

Core Viewpoint - Anbiping's stock price has experienced fluctuations, with a year-to-date increase of 45.96% but a recent decline in the last few trading days, indicating potential volatility in investor sentiment [2]. Group 1: Stock Performance - As of October 29, Anbiping's stock price was 25.12 CNY per share, down 2.10% during the trading session, with a total market capitalization of 2.35 billion CNY [1]. - Year-to-date, Anbiping's stock has risen by 45.96%, but it has seen a decline of 2.60% over the last five trading days, 4.05% over the last 20 days, and 20.08% over the last 60 days [2]. Group 2: Financial Performance - For the period from January to September 2025, Anbiping reported revenue of 253 million CNY, a year-on-year decrease of 28.29%, and a net profit attributable to shareholders of -10.77 million CNY, a decrease of 136.34% [2]. - Cumulative cash dividends since the A-share listing amount to 87.80 million CNY, with 36.46 million CNY distributed over the last three years [3]. Group 3: Shareholder Information - As of September 30, 2025, Anbiping had 7,567 shareholders, a decrease of 17.94% from the previous period, with an average of 12,365 circulating shares per shareholder, an increase of 21.86% [2]. - The eighth largest circulating shareholder is Changcheng Consumption Value Mixed A, holding 850,000 shares, with no change in the number of shares held compared to the previous period [3]. Group 4: Company Overview - Anbiping, established on July 6, 2005, and listed on August 20, 2020, is based in Guangzhou, Guangdong Province, and specializes in the research, production, and sales of in vitro diagnostic reagents and instruments [2]. - The company's main business revenue composition includes 79.72% from self-produced products, 13.11% from purchased products, 5.90% from service income, and 1.27% from other sources [2].

Summary of the Conference Call for Anbiping Company Overview - **Company**: Anbiping - **Industry**: Medical diagnostics, specifically focusing on HPV products, AI in healthcare, and pathology services Key Financial Performance - **Revenue**: Third quarter revenue decreased by 24.95% year-on-year, totaling 253 million RMB, with a total profit loss of 1,741 million RMB, a decline of 187% [2][3] - **Net Profit**: Net profit attributable to the parent company was a loss of 173 million RMB, down 86.95% year-on-year [2][3] - **HPV Product Line**: The HPV product line's gross profit decreased by 79.35%, amounting to a reduction of 41.04 million RMB due to centralized procurement policies [2][3][7] AI and Digitalization Progress - **AI Certification**: The company expects to obtain AI Class III certification for its liquid-based cytology (LBC) by Q1 next year, which will enhance its market presence [2][4][6] - **Hospital Trials**: AI and scanning devices have been trialed in over 10 hospitals, but unclear pricing standards have hindered broader adoption [6][24] - **Digital Business**: The digital business includes partnerships for hospital digitalization and product line revenue growth, with specific revenue forecasts for 2025 and 2026 still under development [22] Business Development Areas - **Pathology Co-construction**: This area has seen a revenue increase of approximately 45% year-on-year, reaching 19 million RMB, with 76 co-construction points established [2][8][11] - **Marketing Strategy**: Transitioning from direct sales to distribution has led to the development of nearly 200 new immunohistochemistry clients and 50 new clients for Fisher [13] Future Expectations - **ADP Impact**: The impact of ADP is expected to diminish significantly after Q4 2025, with a positive shift in net profit observed in Q3 [9] - **Market Share Growth**: Following the acquisition of Haoluo Jie, Anbiping anticipates an increase in market share, particularly in major urban hospitals [4][18] - **Sales Performance**: The company aims to maintain or slightly grow its market share, with approximately 6-6.3 million annual outpatient volumes expected [19] Challenges and Competitive Landscape - **Price Pressure**: The company faces price pressures in the immunohistochemistry sector, with over 60 competitors in the market [20] - **Regulatory Environment**: The lengthy application process for AI Class III certification is seen as a challenge, but the company believes its extensive pre-trial data will provide a competitive edge [21] Strategic Goals - **Growth Areas**: Future growth will focus on LBC, immunohistochemistry, and fluorescence in situ hybridization, with plans to leverage AI capabilities [25][26] - **Marketing Initiatives**: The company plans to enhance its market share in high-end hospitals and explore new markets through innovative sales strategies [27] Conclusion Anbiping is navigating a challenging financial landscape with significant declines in revenue and profit, primarily due to centralized procurement policies affecting its HPV product line. However, the company is making strides in AI and digitalization, with a focus on expanding its market share and improving profitability through strategic partnerships and marketing reforms.

Core Viewpoint - Anbipin (688393.SH) reported its Q3 2025 results, highlighting a total institutional ownership of 24.73 million shares, representing 26.43% of the company's total equity, with a slight decline in institutional holding compared to the previous quarter [1] Institutional Ownership - As of October 27, 2025, seven institutional investors disclosed their holdings in Anbipin, with a combined shareholding of 24.73 million shares, accounting for 26.43% of the total share capital [1] - The institutional ownership percentage decreased by 0.56 percentage points compared to the previous quarter [1] Public Fund Disclosure - In this reporting period, 46 public funds were not disclosed compared to the previous quarter, including notable funds such as Bosera Science and Technology Innovation Board Three-Year Open Mixed Fund and Huatai-PineBridge CSI Precision Medical Index (LOF) A [1]

Core Viewpoint - The company, Guangzhou Anbiping Pharmaceutical Technology Co., Ltd., has announced significant changes to its corporate governance structure, including the cancellation of the supervisory board and certain specialized committees of the board, aimed at optimizing management processes and enhancing decision-making efficiency [8][9][10]. Financial Data - The quarterly financial report for the third quarter has not been audited, and the company has provided key financial data and indicators in RMB [3]. - The report indicates that there were no significant non-recurring gains or losses recognized during the reporting period [4]. Corporate Governance Changes - The company has decided to abolish the supervisory board and its rules to streamline governance and improve internal supervision, with responsibilities being integrated into the audit committee of the board [8]. - Several specialized committees of the board, including the strategy committee, nomination committee, and remuneration and assessment committee, have been canceled, with their functions being reassigned to the board and independent directors [9]. - Amendments to the company's articles of association have been proposed to align with the latest legal and regulatory requirements, enhancing governance standards [10].

Core Viewpoint - Anbiping (688393.SH) reported a significant decline in revenue and net profit for the third quarter of 2025 compared to the previous year [1] Financial Performance - The company achieved total operating revenue of 253 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 28.29% [1] - The net profit attributable to shareholders of the parent company was -10.77 million yuan, compared to a net profit of 29.63 million yuan in the same period last year [1] - The basic earnings per share were -0.12 yuan [1]

Group 1 - Company Anbiping (SH 688393) reported a revenue of approximately 253 million yuan for the first three quarters of 2025, representing a year-on-year decrease of 28.29% [1] - The net profit attributable to shareholders of the listed company was a loss of approximately 10.77 million yuan [1] - As of the report date, Anbiping's market capitalization was 2.4 billion yuan [2]

广州安必平医药科技股份有限公司 董事会议事规则 广州安必平医药科技股份有限公司 董事会议事规则 第一章 总则 第一条 为规范广州安必平医药科技股份有限公司（以下简称"公司"）董事 会的议事方式和决策程序，促使董事和董事会有效地履行其职责，提高董事会规范 运作和科学决策水平，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上海证券交易所科创板股票上市规则》等相关法律、法规、规范性文件和《广州 安必平医药科技股份有限公司章程》（以下简称"《公司章程》"）相关规定，制 定本规则。 第二条 董事会是公司经营管理的决策机构，维护公司和全体股东的利益，在《公 司章程》规定和股东会授权范围内，负责公司发展目标和重大经营活动的决策，对 股东会和全体股东负责。 第三条 董事会下设证券事务部，处理董事会日常事务。 第四条 董事会秘书兼任证券事务部负责人，负责公司股东会和董事会会议的筹 备、文件保管以及股东资料管理，办理信息披露、投资者关系管理、处理董事会日 常事务、保管董事会印章等事宜。董事会秘书可以指定证券事务代表等有关人员协 助其处理日常事务。 第二章 董事会的一般规定 第五条 公司设董事会，董事会由九名董事组成，其 ...

第二条 本制度适用于公司董事、高级管理人员：经理、副经理、董事会秘 书、财务负责人（财务总监）。 广州安必平医药科技股份有限公司 董事、高级管理人员薪酬管理制度 广州安必平医药科技股份有限公司 董事、高级管理人员薪酬管理制度 第一章 总则 第一条 为规范广州安必平医药科技股份有限公司（以下简称"公司"）董 事、高级管理人员薪酬管理，促进公司可持续发展，保障股东、公司与员工的 合法权益，根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《上市公司章程指引》《上海证券交易所科创板股票上市规则》《上海证券交 易所科创板上市公司自律监管指引第 1 号——规范运作》等法律法规、规范性 文件,以及《广州安必平医药科技股份有限公司章程》（以下简称"《公司章 程》"）的有关规定,结合公司的实际情况，特制定本制度。 第二章 管理机构 第三条 董事的薪酬方案，须经董事会同意后，提交股东会审议通过后方可 实施；公司高级管理人员的薪酬方案须报董事会批准后实施。 第四条 公司财务部门、人力资源部门等相关部门配合董事会进行公司董 事、高级管理人员薪酬方案的具体实施。 第三章 薪酬标准 第五条 独立董事实行固定津贴制度，津贴标准由 ...

广州安必平医药科技股份有限公司 对外担保管理制度 广州安必平医药科技股份有限公司 对外担保管理制度 第一章 总则 第一条 为了维护投资者的利益，规范广州安必平医药科技股份有限公司（以下 简称"公司"）的担保行为，控制公司资产运营风险，促进公司健康稳定地发展， 根据《中华人民共和国公司法》《上海证券交易所科创板股票上市规则》等法律、 法规、规范性文件以及《公司章程》的相关规定，制订本制度。 第二条 本制度所称担保是指公司以第三人身份为他人提供的保证、抵押或质 押，公司为控股子公司提供的担保视为对外担保。 第三条 本制度适用于本公司及控股子公司。公司控股子公司对于向公司合并报 表范围之外的主体提供担保的，视同公司行为，其对外担保应执行本制度，公司控 股子公司须在其有权决策机构做出决议前，及时通知公司履行相应的审批程序。 第四条 本制度所称控股子公司是指公司持有其50%以上股份，或者能够决定其 董事会半数以上成员组成，或者通过协议或者其他安排能够实际控制的公司。 第五条 公司对外担保实行统一管理，未经公司董事会或股东会批准，任何人无 权以公司名义签署对外担保的合同、协议或其他类似的法律文件。 第六条 公司董事和高级 ...