经济观察网 根据2026年2月24日的市场数据，九安医疗股价表现强劲，盘中最高触及44.90元，收盘于 44.67元，单日涨幅达8.34%，突破了60日移动平均线（41.43元）。此次上涨主要受以下因素驱动： 2025年三季报显示，公司归母净利润同比增长16.11%至15.89亿元，主要受益于资产管理业务收益贡 献。华创证券指出，公司C端试剂盒业务在第三季度呈现环比增长，且新品研发（如CGM、四联检等） 持续推进。机构持仓方面，摩根医疗健康股票A在四季度增持九安医疗至62.42万股，占基金净值比例达 5.46%。 股价情况 股价突破布林带上轨（43.99元），MACD指标显示多头动能增强，KDJ指标中J线升至84.3，短期技术 面偏强。叠加所属医疗器械板块当日上涨0.69%，以及天津地域概念股表现活跃（涨1.55%），共同形 成催化。 以上内容基于公开资料整理，不构成投资建议。 资金面情况 当日主力资金净流入约9933.51万元，其中特大单买入占比显著，市场交投活跃，换手率达到5.03%。融 资融券方面，尽管2月13日出现融资净偿还，但当前融资余额11.11亿元占流通市值比例处于近一年较低 水平，可能为后续资 ...

Group 1 - The core point of the article is that Moonshot AI, the parent company of AI assistant Kimi, has completed a new funding round exceeding $700 million, led by existing investors including Alibaba and Tencent [1] - The latest funding round values Moonshot AI between $10 billion and $12 billion, indicating strong investor confidence in the company's growth potential [1] - Kimi has recently launched new features that allow for cloud deployment and integration with over 5000 community plugins, enhancing its functionality in various domains such as development, browser-related tasks, and office workflows [1] Group 2 - As of January 29, the Kimi K2.5 model has been released, significantly improving Kimi Agent's capabilities in Microsoft Office applications, including Word, PDF, Excel, and PowerPoint [2] - Moonshot AI was founded in March 2023 and aims to optimize the conversion of energy into intelligence through collaborative product development with users [2] - By the end of last year, Moonshot AI had completed five funding rounds, including a $500 million Series C round in December 2022, with investments from IDG Capital, Alibaba, and Tencent [2]

Group 1 - The company, Jiuan Medical, reported that as of the end of January 2026, the number of shareholders is approximately 68,600 [1] - The company expressed gratitude for the investor's inquiry regarding shareholder information [1] Group 2 - The inquiry was made through an interactive platform, indicating active engagement from investors [1] - The response from the company reflects transparency in shareholder communication [1]

Investment Rating - The report indicates a positive outlook for the company, with an expected net profit of 2.02 billion to 2.35 billion yuan for 2025, representing a year-on-year growth of 21.05% to 40.83% [2][3]. Core Insights - The company's performance in 2025 is primarily driven by strong results in its asset management business, despite a decline in its core operations [2][15]. - For the first three quarters of 2025, the company reported revenues of 1.069 billion yuan, with a net profit of 1.589 billion yuan, indicating that total operating costs exceeded revenues [4][5]. - The total assets under management reached 24.122 billion yuan by the end of Q3 2025, highlighting the significant contribution of asset management to the company's profitability [8]. Financial Performance - The expected net profit for 2025 is projected to be between 2.02 billion and 2.35 billion yuan, with a growth rate of 21.05% to 40.83% compared to the previous year [2][3]. - The company’s investment income for the first three quarters of 2025 was 562 million yuan, with fair value changes contributing 1.251 billion yuan, totaling over 1.8 billion yuan in investment-related income [5]. - The company holds trading financial assets worth 10.362 billion yuan, primarily in wealth management products, and other financial assets totaling 10.245 billion yuan, including hedge funds and private equity investments [6][8]. Core Business Performance - The iHealth product line, which includes smart medical devices, has seen a significant decline in revenue, with a 50% drop in the first half of 2025 compared to the previous year [10][11]. - The total revenue from iHealth products for the first three quarters of 2025 was reported at 601 million yuan, reflecting a 49% year-on-year decrease [11][12]. Market Position - The company's price-to-book (PB) ratio is currently at 0.89, indicating that it is trading below its book value, which may attract investors looking for undervalued assets [14]. - The company has substantial cash-like assets totaling 27.6 billion yuan, with short-term borrowings of only 2.334 billion yuan, suggesting a strong liquidity position [14].

Core Viewpoint - Jiuan Medical (002432.SZ) is expected to achieve a net profit of 2.02 billion to 2.35 billion yuan in 2025, representing a year-on-year growth of 21.05% to 40.83% primarily driven by strong performance in asset management business [1][13]. Financial Performance - For the first three quarters of 2025, Jiuan Medical reported revenue of 1.069 billion yuan, but net profit reached 1.589 billion yuan, with total operating costs exceeding revenue at 1.276 billion yuan [3][15]. - Investment income for the same period was 562 million yuan, and fair value changes contributed 1.251 billion yuan, totaling over 1.8 billion yuan in income from these sources [3][15]. - The company’s net profit attributable to shareholders is projected to grow by 21.05% to 40.83% compared to the previous year [2][14]. Asset Management - As of the end of Q3 2025, Jiuan Medical held trading financial assets worth 10.362 billion yuan, primarily in wealth management products, along with fixed-income securities and equity investments totaling 13.877 billion yuan [4][16]. - The total assets under management reached 24.122 billion yuan, indicating a significant contribution from asset management to overall profitability [5][18]. Product Performance - The iHealth product line, which includes smart medical devices, has seen a significant decline in revenue, with a 50% drop in the first half of 2025 compared to the previous year [8][21]. - Overall revenue from the iHealth series decreased by 49% in the first three quarters of 2025 [9][20]. Market Position - Jiuan Medical's price-to-book (PB) ratio is currently at 0.89, indicating it is trading below its book value [11][23]. - The company has substantial cash-like assets totaling 27.6 billion yuan, with short-term borrowings of only 2.334 billion yuan, suggesting a strong liquidity position [11][23].

资管业绩亮眼，和主业亏损都是事实。 | 作者 | | 观韬 | | --- | --- | --- | | 编辑 | | 小白 | 1月28日盘后，九安医疗（002432.SZ）发布2025年业绩预告，预计2025年实现归母净利润20.2亿元至 23.5亿元，同比增长21.05%至40.83%。 2025年前三季度，九安医疗营收仅10.69亿，但净利润达15.89亿，更有意思的是其营业总成本达12.76 亿，已经超过收入，数据也已经说明了一切。 | 项目 | 本会计年度 | | | | 上年同期 | | --- | --- | --- | --- | --- | --- | | 归属于上市公司股东的 | | 202, 000 | 2 | 235, 000 | 166.872.73 | | 净利润 | 比上年同期增长 | 21. 05% | 2 | 40. 83% | | | 扣除非经常性损益后的 | | 207,000 | 2 | 240, 000 | 168.053.20 | | 浄利润 | 比上年同期增长 | 23. 18% | ~ | 42. 81% | | | 基本每股收益(元/股) | | 4. 6 ...

截至2026年1月29日收盘，九安医疗（002432）报收于42.87元，较前一交易日上涨1.16%，最新总市值 为199.34亿元。该股当日开盘42.27元，最高43.34元，最低41.89元，成交额达5.54亿元，换手率为 2.96%。 近日，九安医疗披露《关于2026年度第一期科技创新债券发行结果的公告》。公告显示，公司于2026年 1月28日在全国银行间市场簿记发行2026年度第一期科技创新债券，债券简称为"26九安医疗SCP001(科 创债)"，债券代码012680319，期限270天，起息日为2026年1月29日，兑付日为2026年10月26日。实际 发行总额50,000万元，发行利率1.73%，发行价为每百元面值100.00元。募集资金已于2026年1月29日到 账。本期债券由渤海银行股份有限公司担任簿记管理人和主承销商，天津银行股份有限公司为联席主承 销商。 最新公告列表 《关于2026年度第一期科技创新债券发行结果的公告》 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

公司于2026年1月28日在全国银行间市场簿记并发行了债券简称为"26九安医 疗SCP001(科创债)"的科技创新债券，本次募集资金已于2026年1月29日到账。发 行结果如下： | 债券名称 | 天津九安医疗电子股份 | | 26九安医疗SCP001 | | --- | --- | --- | --- | | | 有限公司2026年度第一 | 债券简称 | (科创债) | | | 期科技创新债券 | | | | 债券代码 | 012680319 | 期限 | 270天 | | 起息日 | 2026年1月29日 | 兑付日 | 2026年10月26日 | | 计划发行总额(万元) | 50,000.00 | 实际发行总额(万元) | 50,000.00 | 证券代码：002432 证券简称：九安医疗 公告编号：2026-005 天津九安医疗电子股份有限公司 关于2026年度第一期科技创新债券发行结果的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或者重大遗漏。 天津九安医疗电子股份有限公司（以下简称"公司"）于2025年6月3日召开 第六届董事会第二十三次会议、第六 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 调研基本情况 2026年1月28日15:00-16:00，天津九安医疗电子股份有限公司（以下简称"九安医疗"）通过电话会议方 式举办投资者线上交流会，接待了农银汇理、南方基金、大成基金、博时基金、前海开源、新华基金、 招商基金、光大保德信等8家机构。公司董事会秘书邬彤出席会议，就产品研发、糖尿病诊疗照 护"O+O"新模式、AIoT糖尿病家庭医助项目、科创投资及股东回报规划等事项与机构投资者进行沟 通。 核心议题解读 IVD产品进展：四联检试剂盒美国上市，智能助听器研发中 在产品研发方面，九安医疗介绍，IVD产品领域的iHealth四联检试剂盒已于2025年12月获得美国FDA 510(k)上市前通知，目前已在CVS开始销售，同时可通过亚马逊线上渠道订购。亚马逊平台显示，该产 品两人份售价29.99美元，四人份售价49.99美元（预售结束后定价54.99美元）。公司表示，该产品拓展 了试剂盒类产品的可检测病毒类别，有助于满足美国市场呼吸道病毒筛查多元化需求，提升核心竞争 力。值得注意的是，510(k)属于常规上市许可，不受EUA终止影响，可在美持续销售。 此外， ...

证券代码：002432 证券简称：九安医疗 天津九安医疗电子股份有限公司 问题三：请介绍下 AIoT 糖尿病家庭医助，已经开始应用了么？ 回复：AI 系统并非简单替换人工，而是通过微调模型、优化上下文 处理和构建多专家协同的 Agent 系统，来辅助和提升人工照护师的 工作效率。公司的"AIoT 糖尿病家庭医助"相比通用 AI 助手，具 备更强的垂直领域能力，能主动感知用户状态并进行个性化沟通， 以提升患者依从性。照护师 Copilot 完整形态已于 2025 年上线， 未来会用浏览器插件的形态长期迭代。预计 2026 年第二季度将上 线完整版 AI 模块，并进行小范围灰度测试。 公司已经完成 30 余人规模 AI 团队的初步组建。该项目旨在结 合现有前沿 AI 技术，开发垂直模型，首先打造一套智能化、个性 化的糖尿病慢性病管理工具。通过大模型的能力，项目将助力实现 医疗资源的优化配置，提升基层医疗服务水平。通过整合大语言模 型、物联网与多模态数据分析技术，通过智能随访、照护师 Copilot 及智能线上交互，构建一个全天候的糖尿病家庭医助，助力用户在 家庭环境中高效管理糖尿病、常见病及急性症状的即时响应，提 ...