Group 1 - The core point of the announcement is the decision made by the board of directors of New Mileage Health Technology Group Co., Ltd. to apply for a credit limit from a bank to support the company's operational needs [1][2][3]. Group 2 - The sixth board meeting was held on November 4, 2025, with all 11 directors present, and the meeting followed legal procedures as per the Company Law and Articles of Association [2][5]. - The board approved a proposal to apply for a credit limit of 80 million RMB from Industrial Bank Co., Ltd. for a duration of 12 months, which will be used for short-term working capital loans and other banking services [4][5]. - The board authorized the management to handle the necessary procedures and sign relevant legal documents within the approved credit limit [4][5].

Group 1 - The core point of the article highlights that New Mileage (SZ 002219) held its 36th meeting of the sixth board of directors on November 4, 2025, to discuss the proposal for applying for credit limits from banks [1] - For the first half of 2025, New Mileage's revenue composition shows that the medical industry accounts for 86.85%, while the pharmaceutical industry accounts for 13.15% [1] - As of the report, New Mileage has a market capitalization of 7.7 billion yuan [1] Group 2 - The article reports a significant increase in overseas orders for a certain industry, with a surge of 246%, covering over 50 countries and regions [1] - Entrepreneurs have raised concerns about some companies selling products at a loss, warning of the potential for vicious competition extending to overseas markets [1]

新里程健康科技集团股份有限公司 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记 载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 新里程健康科技集团股份有限公司（以下简称"新里程"或"公司"）第六 届董事会第三十六次会议于 2025 年 10 月 31 日以书面、电话、电子邮件等形式 发出，会议于 2025 年 11 月 4 日在公司会议室以通讯表决的方式召开，本次会议 由公司董事长林杨林先生主持，公司现任董事 11 名，实际表决董事 11 名，公司 监事及高级管理人员列席本次会议，会议的召开与表决程序符合《公司法》和《公 司章程》的有关规定，所做决议合法有效。 二、董事会会议审议情况 经与会董事充分讨论，审议通过了以下议案并形成决议。 证券简称：新里程 证券代码：002219 公告编号：2025-053 新里程健康科技集团股份有限公司 第六届董事会第三十六次会议决议公告 （一）审议通过《关于公司向银行申请授信额度的议案》 因公司经营发展需要，同意向兴业银行股份有限公司北京丽泽支行申请（业 务种类）主体授信人民币（币种）捌仟万元整（大写）、（业务种类）债项授信人 民币（币种）捌仟万元整（大 ...

Investment Rating - The report assigns a "Buy-A" investment rating with a 6-month target price of 3 yuan [4][7]. Core Views - The medical service business has completed its bottoming process, and an inflection point is anticipated in the near future [2]. - The company experienced a significant revenue decline of 29.26% year-on-year in Q3 2025, primarily due to the impact of centralized procurement on core pharmaceutical products [3]. - Key operational metrics such as outpatient volume and average outpatient fees have stabilized year-on-year, while inpatient volume has decreased by 9% and average inpatient fees have dropped by 12% [2]. Financial Performance Summary - In Q3 2025, the company reported revenue of 668 million yuan and a net loss of 46 million yuan, with a year-on-year loss increase of 604.29% [3]. - Revenue growth rates for 2025 to 2027 are projected at -12%, 11.3%, and 10.1%, respectively, while net profit growth rates are expected to be -25.7%, 41.8%, and 23.6% [4][11]. - The company’s total market capitalization is approximately 7.72 billion yuan, with a circulating market capitalization of about 7.46 billion yuan [7].

Core Insights - Lantu Automotive reported a record delivery of 17,218 vehicles in October, marking an 82% year-on-year growth from January to October, achieving a steady "nine consecutive increases" [1] Group 1: Delivery and Growth - The company achieved a historical high in vehicle deliveries for October, with a total of 17,218 units delivered [1] - Cumulative deliveries from January to October show an impressive year-on-year growth of 82% [1] - The company has maintained a strong growth momentum, evidenced by nine consecutive months of deliveries exceeding 10,000 units [1] Group 2: Product Performance - Lantu's models, including Lantu FREE+, the new Lantu Zhiyin, and Lantu Dreamer, continue to lead in their respective market segments [1] - The flagship sedan, Lantu Zhaiguang L, has launched nationwide in 153 cities across 500 stores, with strong pre-order demand [1] - The upcoming flagship SUV, Lantu Taishan, is set to launch in November, featuring advanced technologies such as 800V intelligent hybrid systems and Huawei's advanced driving system [1] Group 3: Market Position and Capital Movement - Lantu has submitted its application for a Hong Kong IPO, indicating a significant step forward in its capital market process [1] - The company is on track to produce its 300,000th vehicle in November, making it the first high-end new energy brand among central state-owned enterprises to reach this milestone [1] - With a robust product lineup, Lantu is positioned for a stronger market breakout in the future [1]

Core Insights - The company reported that its performance reached a low point in Q3 due to challenges from healthcare policy adjustments and pharmaceutical procurement [2] - Since the end of Q3, the company has implemented various measures leading to a significant recovery and growth in performance [2] Medical Sector - The medical segment has effectively responded to healthcare payment challenges through proactive discipline construction and cost structure optimization [2] - New hospital construction and the development of non-medical insurance-dependent disciplines have enhanced regional competitiveness and service capabilities [2] - Overall, the market share and profits of medical institutions have steadily increased [2] Pharmaceutical Sector - The pharmaceutical segment, led by "Duyiwei Pharmaceutical," has seen fundamental improvements in performance since September through comprehensive optimization of sales, products, and markets [2] - The introduction of strategic investors is driving Duyiwei's transition into a national pharmaceutical group [2] Future Outlook - The company plans to deepen its "health technology" positioning through continuous asset injections [2] - There is a focus on exploring innovative business segments that represent new productive forces to build new growth engines for the future [2]

Core Viewpoint - The announcement from Xinli Cheng on October 31 highlights improvements in medical expense settlement efficiency due to new policies from the Medical Insurance Bureau, which aims to streamline the payment process for medical institutions [2] Group 1: Policy Impact - The Medical Insurance Bureau's directive requires provincial medical insurance departments to guide designated medical institutions to submit medical expense claims by the 10th of the following month [2] - Payments are to be made within 20 working days after the submission deadline, with the goal of completing payments by the end of the month [2] - Since the policy was introduced earlier this year, there has been a noticeable improvement in settlement efficiency across various regions [2] Group 2: Company Performance - Several hospitals under the company, including Wasan Hospital, Xuyi Traditional Chinese Medicine Hospital, Siyang Hospital, and Chongzhou Second Hospital, have achieved instant settlement capabilities [2] - Lankao First Hospital, as a pilot site, has successfully implemented weekly settlements [2] - The overall medical insurance settlement cycle and billing periods have been shortened due to the comprehensive rollout of the payment policy reform and enhanced management and professionalism in medical insurance [2]

Core Insights - The company announced a significant reduction in sales and management expenses in response to price declines following the centralized procurement of its product, Du Yi Wei [2] Group 1: Sales Expenses - Sales expenses primarily related to the pharmaceutical sector have decreased by 35% year-on-year in the first three quarters [2] Group 2: Management Expenses - Management expenses have also seen a reduction, with a year-on-year decrease of 23% in the first three quarters, achieved through various cost-cutting measures [2]

Core Insights - The company reported stable outpatient visits and average costs in the first three quarters, with a positive growth trend in the second and third quarters [2] - The company has actively adjusted its strategies in response to changes in medical insurance payment policies, leading to a reduction in inpatient visits and average costs, with a noticeable narrowing of the decline in inpatient visits [2] Summary by Categories - **Outpatient Performance** - Outpatient visits and average costs have remained stable year-on-year [2] - Both the second and third quarters showed a year-on-year increase in outpatient visits, indicating a positive trend [2] - **Inpatient Performance** - Inpatient visits and average costs have decreased due to proactive adjustments related to medical insurance payment policies [2] - The decline in inpatient visits has significantly narrowed, and the average costs have shown a trend towards stability on a month-to-month basis [2]

Core Viewpoint - The company reported a significant loss in the third quarter primarily due to the impact of centralized procurement on its product, Du Yi Wei [2] Group 1: Financial Performance - The third quarter loss was mainly attributed to the substantial impact of centralized procurement on Du Yi Wei Pharmaceutical [2] - The execution and implementation period of centralized procurement after winning bids at the beginning of the year led to a decline in sales during the execution phase [2] - The price drop resulting from the centralized procurement directly affected the company's financial performance, with the peak impact observed in the third quarter due to settlement delays [2] Group 2: Market Recovery Efforts - As of September, sales of Du Yi Wei products have shown signs of recovery after a period of decline [2] - The company is actively responding to the market situation post-centralized procurement by focusing on restoring growth in existing markets [2] - Additionally, the company is increasing efforts to develop untapped regions, aiming for a rebound in performance [2]