报告期归属于上市公司股东的净利润出现同比上升，主要系：公司增持博灵脑机股权并将该公司纳入合 并报表范围，根据《企业会计准则第33号——合并财务报表》第四十八条的规定，确认了相应的投资收 益；李晔案件再审改判后，建华医院收到了法院返还的被执行款项，并由此确认了营业外收入。 格隆汇1月29日丨创新医疗(002173.SZ)公布2025年度业绩预告，预计2025年度净亏损2,600万元-3,300万 元，上年同期亏损9,395.40万元；预计2025年度扣非净亏损6,800万元-7,500万元，上年同期5,957.41万 元。 报告期扣除非经常性损益后的净利润出现同比下降，主要系：在医保政策以及医保支付标准持续调整的 行业背景下，康华医院、建华医院对短期盈利预期的不确定性进行了审慎评估，本报告期确认的递延所 得税资产同比减少，导致所得税费用出现同比上升。 ...

Core Viewpoint - The company expects a net profit attributable to shareholders of between -33 million to -26 million yuan for 2025, an improvement from -93.95 million yuan in the same period last year [1] Financial Performance - The anticipated performance change is primarily due to the recognition of investment income from increased equity in Boling Brain Machine and the recognition of non-operating income from the return of executed funds at Jianhua Hospital [1] - There is an increase in income tax expenses due to a reduction in the recognition of deferred tax assets at Kanghua Hospital and Jianhua Hospital, attributed to adjustments in medical insurance policies [1]

（记者 王晓波） 每经AI快讯，创新医疗1月29日晚间发布业绩预告，预计2025年归属于上市公司股东的净利润为-2600万 元至-3300万元，基本每股收益-0.06元至-0.07元。上年同期净利润为-9395.4万元。 每经头条（nbdtoutiao）——水贝黄金平台"杰我睿"兑付危机调查：40倍杠杆对赌，金价越涨平台越 亏！老板自称"还在深圳"，投资者：兑付方案本金打两折，无法接受 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

南财智讯1月29日电，创新医疗发布年度业绩预告，预计2025年全年归属于上市公司股东的净利润 为-3300万元—-2600万元，同比预增64.88%—72.33%；预计2025年全年归属于上市公司股东的扣除非经 常性损益的净利润为-7500万元—-6800万元，同比预减14.14%—25.89%。业绩变动原因说明：1、本报 告期归属于上市公司股东的净利润出现同比上升，主要系：公司增持博灵脑机股权并将该公司纳入合并 报表范围，根据《企业会计准则第33号——合并财务报表》第四十八条的规定，确认了相应的投资收 益；李晔案件再审改判后，建华医院收到了法院返还的被执行款项，并由此确认了营业外收入。2、本 报告期扣除非经常性损益后的净利润出现同比下降，主要系：在医保政策以及医保支付标准持续调整的 行业背景下，康华医院、建华医院对短期盈利预期的不确定性进行了审慎评估，本报告期确认的递延所 得税资产同比减少，导致所得税费用出现同比上升。 ...

Core Viewpoint - The company, Innovation Medical, anticipates a negative net profit for the fiscal year 2025, projecting a net profit attributable to shareholders between -33 million and -26 million yuan, compared to -93.95 million yuan in the same period last year, indicating a growth of 64.88% to 72.33% [1] Financial Projections - The expected net profit, excluding non-recurring gains and losses, is projected to be between -75 million and -68 million yuan, down from -59.57 million yuan in the previous year, reflecting a decline of 14.14% to 25.89% [1] - The anticipated operating revenue is estimated to be between 780 million and 800 million yuan, compared to 816 million yuan in the same period last year [1]

证券代码：002173 证券简称：创新医疗 公告编号：2026-005 创新医疗管理股份有限公司 2025年度业绩预告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、预计的本期业绩情况 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日。 2、业绩预告情况：预计净利润为负值。 单位：万元 | 项 目 | | 本报告期 | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的净利润 | | -3,300 | ～ | -2,600 | -9,395.40 | | | 比上年同期增长 | 64.88% | ～ | 72.33% | | | 扣除非经常性损益后的净利润 | | -7,500 | ～ | -6,800 | -5,957.41 | | | 比上年同期下降 | 14.14% | ～ | 25.89% | | | 基本每股收益（元/股） | | -0.07 | ～ | -0.06 | -0.21 | | 营业收入 | | 78,000 | ～ | 80, ...

Core Insights - The Shandong Provincial Health Commission has announced the top ten innovative measures for deepening medical reform and high-quality development of public hospitals in Shandong for 2025, with Yantai City People's Hospital's initiative recognized as one of the top ten innovations in high-quality development [1] Group 1: Hospital Development Initiatives - Yantai City People's Hospital focuses on a people-centered health approach, aiming to meet the medical service needs of county residents and has adopted a "four focuses" work path to enhance regional medical development [1] - The hospital has established a new campus built to "three A" standards, integrating maternal and child health care and mental health services, thereby improving treatment levels and service quality [1] Group 2: Resource Integration and Quality Control - The hospital has formed a tightly-knit county medical community, creating eight medical resource-sharing centers and conducting numerous remote consultations and centralized disinfection services, leading to high medication overlap rates within the community [2] - The establishment of 20 medical quality control centers has improved the standardization of county-level services [2] Group 3: Capacity Building and Emergency Services - The hospital has developed provincial and municipal clinical key specialties and established medical alliances with higher-level hospitals, introducing national-level expert studios for guidance in diagnosis and surgery [2] - Five emergency centers have been built, covering over 90% of critical patients in the region, significantly reducing critical care times [2] Group 4: Patient Experience and Service Improvement - A "one-stop" comprehensive service center has been established, featuring an AI doctor consultation system and optimized transportation support, enhancing patient experience [2] - The hospital has implemented a closed-loop management mechanism for treatment, rehabilitation, and follow-up, ensuring continuity of care for transferred patients [2] Group 5: Overall Impact and Patient Satisfaction - The overall development of the hospital has led to more balanced regional healthcare, significantly improved diagnosis and treatment levels, and a high patient satisfaction rate exceeding 99% [2]

Group 1 - Tianqi Co., Ltd. has entered the brain-computer interface (BCI) sector by investing in Suzhou Huahui Chip, focusing on high-density flexible neural electrode technology, achieving animal testing stages, and becoming a key player in domestic BCI hardware localization. The developed flexible neural electrode has 1024 channels, with signal acquisition precision and anti-interference capabilities at an internationally advanced level. The company has also completed biocompatibility surface modification technology to reduce inflammation after electrode implantation, with core patents authorized by the National Intellectual Property Administration [1][2][3] - Innovation Medical, through its subsidiary Boling Brain Machine, is one of the first companies in China to commercialize BCI rehabilitation products. The core product, Cyberlink AC5, was officially launched in October 2025, generating sales revenue of 114,000 yuan in 2025. Another product, Cyberlink AM5, has completed multi-center clinical trials and is progressing through the approval process. The company plans to establish five additional clinical cooperation centers to accelerate the application of BCI technology in treating neurological diseases [4][5][6] - iFlytek is a leading company in the non-invasive BCI field, leveraging its artificial intelligence technology to develop BCI collaborative technology. The company has established long-term partnerships with universities for research and development. Its non-invasive BCI system has been piloted in 120 schools nationwide, improving student attention by 30%. In the medical field, a collaboration with Beijing Tiantan Hospital has achieved a 92% accuracy rate in identifying abnormal brain signals for epilepsy [7][8][9] Group 2 - Jiahe Intelligent focuses on the research and mass production of BCI hardware, particularly EEG acquisition devices and core components, serving both consumer and medical-grade markets. The company has achieved large-scale production of EEG acquisition headphones with a signal recognition accuracy of 92%, primarily used in sleep monitoring and attention training. It plans to expand into overseas BCI hardware markets by 2026 [10][11][12] - Tom Cat is the first company in China to apply BCI technology in consumer scenarios, focusing on interactive games and rehabilitation training products. The company launched a mind-controlled game product in 2025, which quickly gained over 500,000 users. It also collaborates with rehabilitation institutions to develop BCI rehabilitation training systems, showing a 35% average improvement in patient motor function scores [13][14][15] - Hanwei Technology, through its subsidiary Weisheng Technology, is a leading company in the EEG sensor field, with an annual shipment of over 2 million units. The company has developed an epilepsy early warning system with an 88% accuracy rate in clinical tests. It also focuses on flexible pressure sensors for invasive BCI electrodes, addressing industry pain points [16][17][18] Group 3 - StarNet Ruijie leverages its network communication technology to develop low-power, high-stability EEG signal transmission systems and data encryption modules, becoming a core supplier for BCI data links. The developed transmission system supports real-time transmission of 1024-channel EEG signals with a latency of less than 10ms and a stability of 99.9% [19][20][21] - Yijiahe focuses on the integration of BCI and embodied intelligent robots, exploring applications in smart healthcare. The company has signed a strategic cooperation agreement to develop real-time emotional companionship and brain-controlled robots, enhancing the emotional care capabilities of robots [22][23][24] - Lihua Technology is focused on incubating and investing in the BCI sector, successfully incubating three high-tech companies in the field. The company collaborates with the Shenzhen Institute of Advanced Technology to provide comprehensive services for incubated companies, addressing development pain points [25][26][27] Group 4 - Sanbo Neurosurgery is a leading private hospital in the neurosurgery field, focusing on the clinical application and research of BCI. The company has successfully conducted an interventional BCI surgery, accumulating valuable experience for clinical applications. It is also recruiting participants for ongoing clinical trials [28][29][30] - Shiyun Circuit is a core enterprise in the PCB field, providing customized PCB products for BCI devices. The company focuses on high-density, flexible PCB designs, achieving low signal loss rates below 2% [31][32][33] - Meihua Medical is a leading supplier of core components for BCI, having entered the core supply chain for invasive BCI products. The company has developed components that have passed biocompatibility tests, ensuring long-term stability and safety for implanted devices [34][35][36]

Market Overview - The medical services sector experienced a decline of 1.41% on January 26, with Meidisi leading the drop [1] - The Shanghai Composite Index closed at 4132.61, down 0.09%, while the Shenzhen Component Index closed at 14316.64, down 0.85% [1] Stock Performance - Notable gainers in the medical services sector included: - Guangzheng Eye Hospital (002524) with a closing price of 5.05, up 10.02% on a trading volume of 266,400 shares and a transaction value of 132 million [1] - Lanwei Medical (301060) closed at 12.28, up 3.98% with a trading volume of 325,000 shares and a transaction value of 392 million [1] - Major decliners included: - Meidisi (688202) closed at 60.88, down 7.28% with a trading volume of 71,600 shares and a transaction value of 444 million [2] - Meinian Health (002044) closed at 7.26, down 6.08% with a trading volume of 3.7675 million shares and a transaction value of 2.776 billion [2] Capital Flow - The medical services sector saw a net outflow of 1.318 billion from institutional investors, while retail investors had a net inflow of 1.011 billion [2] - The capital flow for specific stocks showed: - Boteng Co. (300363) had a net outflow of 39.83 million from institutional investors [3] - Guangzheng Eye Hospital (002524) had a net inflow of 39.29 million from institutional investors [3] - Lanwei Medical (301060) had a net inflow of 24.71 million from institutional investors [3]

Core Viewpoint - The company, Beixin Life, is launching an IPO with 57 million shares at a price of 17.52 yuan per share, aiming to raise funds for the development of interventional medical devices and enhance its production capacity and R&D capabilities [1] Group 1: Company Overview - Beixin Life is recognized as a national-level "specialized and innovative" small giant enterprise and has been awarded the title of a provincial manufacturing champion in Guangdong for 2024 [1] - The company focuses on the research, production, and sales of innovative medical devices for precise diagnosis and treatment of cardiovascular diseases [1][2] - Beixin Life is the first domestic company to offer a combination of intravascular functional (FFR) and imaging (IVUS) products, addressing a significant gap in the domestic market and reducing reliance on imported products for coronary artery disease diagnosis [1][2] Group 2: Product Development and Market Position - The core product, the IVUS system, is the first domestically developed 60MHz high-definition IVUS product approved in China and the first to be approved for sale in Europe, achieving the highest market share among domestic brands [2] - The FFR system, launched in 2020, captured 30.6% of the domestic market share by 2021, contributing to rapid revenue growth for the company [3] - As of September 30, 2025, the company plans to have launched 11 products and has 6 products in development, covering five major categories including IVUS, FFR, vascular access products, shockwave balloon therapy systems, and electrophysiological solutions [2] Group 3: Financial Performance - The company's revenue has shown significant growth, with figures of 92.45 million yuan, 183.98 million yuan, and 316.60 million yuan for the years 2022, 2023, and 2024 respectively [3] - For 2025, the company projects revenue between 520 million yuan and 560 million yuan, representing a year-on-year growth of 64.24% to 76.88%, with net profit expected to be between 78 million yuan and 88 million yuan, indicating a growth of 278.91% to 301.85% [3]