证券代码：002044 证券简称：美年健康 公告编号：2025-078 美年大健康产业控股股份有限公司 关于 2025 年前三季度计提资产减值准备的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 公司 2025 年前三季度计提坏账准备合计为 5,542.77 万元。 注：以上数据如存在尾差，属于四舍五入所致。 二、本次计提资产减值准备合理性以及对公司的影响 本次计提资产减值准备符合《企业会计准则》和公司内部控制制度的相 关规定，遵循谨慎性、合理性原则，符合公司的实际情况，能够更真实、准 确地反映公司财务状况、资产价值及经营成果。 2025 年前三季度，公司计提各项资产减值准备合计 5,542.77 万元，减 1 因公司合并报表范围变化而产生的增加变动情况。 根据《企业会计准则》和美年大健康产业控股股份有限公司（以下简称"公 司"）会计政策的相关规定，公司基于谨慎性原则，对截至 2025 年 9 月 30 日的 各项资产进行判断以及减值测试，对可能发生资产减值损失的资产计提减值准备。 2025 年前三季度，公司计提各项资产减值准备合计 5,542.77 万 ...

证券代码：002044 证券简称：美年健康 公告编号：2025-079 美年大健康产业控股股份有限公司 关于公司及下属子公司提供担保的进展公告 由不超过人民币 36,236.56 万元调整为不超过人民币 35,236.56 万元。本次担保事 项无需单独提交公司董事会或股东会审议。 三、被担保方基本情况 名称：天津滨海新区美欣门诊有限公司 成立日期：2016 年 6 月 1 日 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保情况概述 美年大健康产业控股股份有限公司（以下简称"公司"或"美年健康"）于 2024 年 12 月 13 日召开第九届董事会第五次（临时）会议及 2024 年 12 月 30 日召开 2024 年第六次临时股东大会，审议通过《关于公司及下属子公司申请融资额度并提供 担保的议案》，同意公司及部分下属子公司 2025 年度为公司及合并报表范围内的 子公司提供担保额度累计不超过人民币 49 亿元。具体内容详见公司于 2024 年 12 月 14 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于公司及下属子公司申请 融资额 ...

证券代码：002044 证券简称：美年健康 公告编号：2025-076 美年大健康产业控股股份有限公司 第九届董事会第十五次（临时）会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 美年大健康产业控股股份有限公司（以下简称"公司"）第九届董事会第十五 次（临时）会议于 2025 年 10 月 24 日以电子发送等形式发出会议通知，会议于 2025 年 10 月 30 日上午 10 时以通讯方式召开。应出席本次会议的董事为 9 名，实际出 席会议的董事为 9 名。会议由公司董事长俞熔先生主持，公司高级管理人员列席 了会议。本次会议的出席人数、召开表决程序、议事内容均符合《中华人民共和 国公司法》《公司章程》等有关规定。 二、董事会会议审议情况 表决结果：赞成 9 票，反对 0 票，弃权 0 票。 公司董事会审计委员会审议通过了该议案。 《公司 2025 年第三季度报告》详见公司指定信息披露媒体《中国证券报》、《上 海证券报》、《证券时报》、《证券日报》及巨潮资讯网（www.cninfo.com.cn）。 三、备查文件 1、公司 ...

Core Insights - The company reported a third-quarter revenue of 2.816 billion yuan, representing a year-on-year decline of 4.06% [1] - The net profit for the third quarter was 273 million yuan, showing a year-on-year increase of 13.65% [1] - For the first three quarters, the total revenue was 6.925 billion yuan, down 3.01% year-on-year [1] - The net profit for the first three quarters reached 51.8599 million yuan, reflecting a significant year-on-year growth of 110.53% [1]

Financial Performance - The company's operating revenue for Q3 2025 was ¥2,816,138,023.06, a decrease of 4.06% compared to the same period last year[3]. - Net profit attributable to shareholders for Q3 2025 reached ¥273,222,939.45, an increase of 13.65% year-on-year[3]. - The basic earnings per share for Q3 2025 was ¥0.07, reflecting a growth of 16.67% compared to the previous year[3]. - The company achieved a total revenue of 692,539.01 million RMB for the first three quarters, a decrease of 3.01% year-on-year[15]. - Net profit attributable to shareholders for the same period was 51,859.9 million RMB, an increase of 110.53% year-on-year[15]. - In Q3 alone, the company reported revenue of 281,613.80 million RMB, down 4.06% year-on-year, while net profit reached 27,322.29 million RMB, up 13.65% year-on-year[15]. - Total operating revenue for the current period was ¥6,925,390,135.63, a decrease of 3.01% from ¥7,140,540,911.69 in the previous period[52]. - Net profit for the current period was ¥91,460,115.74, an increase of 13.5% compared to ¥80,541,626.74 in the previous period[53]. - The total assets decreased from ¥20,126,714,816.93 to ¥19,567,663,818.73, reflecting a decline of 2.78%[50]. - Total liabilities decreased to ¥10,843,480,221.19, down from ¥11,423,788,765.09, a reduction of 5.06%[50]. Cash Flow and Assets - The company reported a net cash flow from operating activities of -¥181,868,438.48 for the year-to-date, representing a 40.03% increase in outflow compared to the previous year[3]. - The cash flow statement indicates a stable cash position, with no significant changes reported[55]. - Operating cash flow net amount was -181,868,438.48, an improvement from -303,249,875.96 in the previous period, indicating a reduction in cash outflow[57]. - Total cash inflow from operating activities was 5,897,684,855.45, slightly up from 5,874,172,164.72 in the previous period[56]. - Cash outflow from operating activities totaled 6,181,344,471.16, down from 6,271,453,561.73 in the previous period[57]. - The ending cash and cash equivalents balance was 1,873,055,412.03, up from 1,458,322,274.51 in the previous period[58]. - As of September 30, 2025, the company's total current assets amounted to CNY 6,517,530,486.47, a decrease of 4.54% from CNY 6,827,461,321.14 at the beginning of the period[49]. - The cash and cash equivalents decreased to CNY 2,010,659,401.94 from CNY 3,069,635,444.40, representing a decline of 34.5%[49]. - The company's non-current assets totaled CNY 13,050,133,332.26, a slight decrease of 1.87% from CNY 13,299,253,495.79[49]. Investments and Acquisitions - The company approved a plan to acquire equity stakes in 11 companies, including Hengyang Meinian Health Examination Center Co., Ltd., through a share issuance[45]. - The company is awaiting approval from the Shenzhen Stock Exchange and the China Securities Regulatory Commission for its asset acquisition plan, which carries uncertainties regarding the timing and outcome[46]. Research and Development - The company reported a substantial increase in development expenditures, which rose by 357.78% to ¥54,193,066.36, attributed to ongoing capitalized R&D projects[9]. - Research and development expenses were ¥36,848,699.31, a slight decrease from ¥37,492,770.55[52]. Customer Engagement and Services - The company operates 561 branches, with 300 being controlled branches, and is focusing on enhancing customer management and conversion rates[14]. - The AI-driven personalized health check package recommendation has been launched across 167 cities, improving service efficiency[17]. - The company has implemented a full AI quality control system for ultrasound services, enhancing the examination experience[19]. - The company is expanding its product offerings, including traditional and innovative health management solutions, to create a comprehensive service loop[18]. - The company launched the "Health Management After Check-up" service, which is gradually becoming a new growth point for its business[21]. Community and Social Responsibility - The company is committed to social responsibility, focusing on health care for vulnerable groups through various public welfare initiatives[23]. - The company has initiated a public welfare project focusing on early screening for brain health among the elderly, aiming to safeguard national health through professional medical capabilities[22]. - The company is actively involved in community health education, conducting health knowledge dissemination activities in local communities, with nearly 100 residents receiving free health checks and consultations[33]. - A health lecture was organized for employees of a local manufacturing company, addressing common occupational health issues and promoting a scientific health concept of early prevention and treatment[35]. - The company is building a sustainable public welfare ecosystem through innovative activities like the "Charity Run," which attracted over 800 participants[37]. Technology and Innovation - Revenue generated from AI technology applications amounted to 24,963.84 million RMB, reflecting a growth of 71.02% compared to the previous year[15]. - The company is focusing on enhancing the value of medical data assets and exploring innovative applications, leveraging big data in health check-ups and deepening the application of digital and AI technologies in health management[20]. - The AI chronic disease management product matrix is taking shape, with key products like "Lung Health" and "Brain Health" being continuously upgraded and promoted across over 30 regions, marking a new growth point for the company[21]. - The company is collaborating with Huawei to advance an AI smart wearable project, aiming to create a closed-loop health management service[20].

Core Viewpoint - The stock of Meinian Health has reached a new high in trading volume, indicating strong market interest and performance [1] Group 1: Company Performance - As of 11:24 AM, Meinian Health's trading volume reached 1.535 billion RMB, marking the highest level since March 11, 2025 [1] - The latest stock price increased by 9.73%, with a turnover rate of 7.09% [1] - The previous trading day saw a total trading volume of 279 million RMB [1] Group 2: Company Background - Meinian Health Industry Holdings Co., Ltd. was established on January 22, 1991, with a registered capital of 3.91425 billion RMB [1]

Group 1 - The core viewpoint of the news is that Meinian Health has seen a stock price increase of 5.15%, reaching 5.51 CNY per share, with a total market capitalization of 21.568 billion CNY [1] - Meinian Health's main business involves health check-ups and health management, with 95.67% of its revenue coming from check-up services and 4.33% from other services [1] - The company is located in Shanghai and was established on January 22, 1991, with its listing date on May 18, 2005 [1] Group 2 - According to data, Yinhua Fund has a significant holding in Meinian Health, with the Yinhua Medical Health Mixed A Fund increasing its stake by 38,600 shares in the third quarter, now holding 550,200 shares, which accounts for 4.91% of the fund's net value [2] - The Yinhua Medical Health Mixed A Fund was established on September 6, 2023, with a current scale of 37.2991 million CNY, and has achieved a year-to-date return of 9.54% [2] - The fund's performance ranks 6058 out of 8152 in its category this year, and it has a one-year return of 1.42%, ranking 7714 out of 8038 [2] Group 3 - The fund managers of Yinhua Medical Health Mixed A are Zhang Ping and Wang Lu, with Zhang having a tenure of nearly 7 years and a total fund size of 20.107 billion CNY, achieving a best return of 219.82% during her tenure [3] - Wang Lu has been managing the fund for about 2 years and has a fund size of 2.176 billion CNY, with a best return of 14.76% during his tenure [3]

Group 1: Market Performance - The family doctor concept index rose by 1.38%, ranking 6th among concept sectors, with 17 stocks increasing in value [1] - Notable gainers included Haixia Innovation, which hit a 20% limit up, and other stocks like Heren Technology, ST Yinjian, and Zhujiang Shares, which rose by 5.00%, 3.88%, and 3.52% respectively [1] - The biggest decliners were Weining Health, Fosun Pharma, and Focus Technology, which fell by 2.85%, 2.05%, and 1.21% respectively [1] Group 2: Capital Flow - The family doctor concept sector saw a net inflow of 163 million yuan, with 10 stocks receiving net inflows, and 7 stocks attracting over 10 million yuan [2] - The top stock for net inflow was Keda Xunfei, with a net inflow of 155 million yuan, followed by China Ping An, Meian Health, and Haixia Innovation with net inflows of 142 million yuan, 50.97 million yuan, and 26.50 million yuan respectively [2] - In terms of capital inflow ratios, ST Yinjian, Huaping Shares, and Zhujiang Shares led with net inflow rates of 15.37%, 10.55%, and 10.31% respectively [3] Group 3: Individual Stock Performance - Keda Xunfei had a daily increase of 1.46% with a turnover rate of 3.29% and a net capital flow of 154.67 million yuan [3] - China Ping An showed a minimal increase of 0.02% with a net capital flow of 141.56 million yuan [3] - Haixia Innovation experienced a significant rise of 19.97% with a turnover rate of 20.34% and a net capital flow of 26.50 million yuan [3]

Investment Rating - The report does not explicitly state an investment rating for the industry [2] Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 2.48% from October 13 to October 17, underperforming the broader market index, the CSI 300, which fell by 2.22% [3][8] - There is a sustained enthusiasm for business development (BD) transactions in innovative drugs, with several companies entering agreements with international pharmaceutical firms [3][12] - The ESMO conference held from October 17 to 21 showcased positive advancements in multiple studies, particularly in immunotherapy and antibody-drug conjugates (ADCs), highlighting the potential of domestic biotech companies [3][11] Market Weekly Review - The pharmaceutical and biotechnology sector saw a weekly decline of 2.48%, with offline pharmacies and traditional Chinese medicine showing slight gains of 0.59% and 0.38%, respectively [8] - Medical research outsourcing, medical devices, and other biological products faced significant declines, with drops of 6.46%, 5.37%, and 3.6% respectively [8][9] - Notable stock performances included Asia-Pacific Pharmaceutical with a rise of 36.7%, while Betta Pharmaceuticals saw a decline of 17.0% [11] Industry News and Key Company Announcements Important Industry Events - On October 18, Kangfang Biologics presented data on a PD-1/VEGF dual antibody in non-small cell lung cancer at the ESMO conference, showing significant improvement in progression-free survival (PFS) [11] - On October 16, Hansa Biopharma announced a licensing agreement with Roche for the global exclusive rights to develop and commercialize HS-20110, with an upfront payment of $80 million [12] - On October 16, Prigen Biologics entered a collaboration with Gilead's Kite Pharma, receiving an upfront payment of $120 million [12][13] Company Announcements - Huayuan Biologics reported a slight decrease in total revenue for the third quarter, amounting to 936 million yuan, a 0.2% year-on-year decline [14] - Shanghai Pharmaceuticals received FDA approval for Doxycycline capsules, with projected sales of approximately $130 million in the U.S. for 2024 [14][16]

Core Viewpoint - Meinian Health has reported a significant increase in net profit for the first three quarters of 2025, driven by its "All In AI" strategy, indicating a turning point in profitability and the successful implementation of AI technology in its operations [1][8] Financial Performance - The company expects a net profit of 42 million to 62 million yuan for the first three quarters, representing a year-on-year increase of 70.51% to 151.70% compared to 24.63 million yuan in the same period last year [1] - For the third quarter, which is traditionally a peak season for health check-ups, the net profit is projected to be between 263 million and 283 million yuan, showing a year-on-year growth of 9.55% to 17.87% [1] AI Business Growth - AI technology has become the core engine for revenue growth, with approximately 250 million yuan generated from AI-related services in the first three quarters, marking a year-on-year increase of 71.02% [1][8] - The growth rate of AI revenue has accelerated from 62.36% in the first half of the year [1] Strategic Transformation - Meinian Health is transitioning from a traditional health check-up provider to an "AI + health management ecosystem platform," focusing on service upgrades, product innovation, and operational optimization [1][8] - The company has implemented a three-dimensional approach to enhance service, product, and operational capabilities, creating a positive cycle of experience enhancement, demand activation, and efficiency optimization [1] Service Innovation - The company has developed a comprehensive service system covering the entire health management cycle, utilizing AI to provide personalized health management solutions [2][3] - AI algorithms analyze customer data to create tailored health check-up plans, enhancing the precision of health services and improving customer engagement [2] Product Innovation - Meinian Health has integrated AI technology into various health management scenarios, focusing on eight key disciplines to create a diverse product ecosystem [4][5] - The introduction of innovative products like "Lung Jie Ning" and "Nerve Rui Jia" aims to meet the growing demand for early cancer screening, particularly in the aging population [4] Cost Reduction and Efficiency Improvement - The company has achieved significant profit growth through digital operations that enhance cost control and efficiency [6][7] - The AI smart inspection system has been implemented in 188 branches, processing 870,000 reports with a precision rate of over 90%, significantly reducing the time required for report review [6] Market Outlook - The health check-up industry in China is experiencing robust growth, with the market size reaching 190.4 billion yuan in 2022 and projected to exceed 390 billion yuan by 2025 [8][9] - Meinian Health is well-positioned to capitalize on this growth by leveraging AI technology and expanding its health management services [9]