（文章来源：证券日报） 证券日报网讯九安医疗9月18日在互动平台回答投资者提问时表示，公司在信息披露方面遵守相关法律 法规要求，如有触及信息披露的披露要求，或相关业务板块发生重要进展，将按照相关法律法规及时并 积极履行信息披露义务。 ...

Group 1 - The core point of the news is that Tianjin Jiuan Medical Electronics Co., Ltd. successfully registered a technology innovation bond of 4 billion yuan, marking the first such project for private technology enterprises in Tianjin [1] - Jiuan Medical, established in August 1995 and listed on the Shenzhen Stock Exchange in June 2010, focuses on the research and production of health-related electronic products and smart hardware [2] - The company became the first in China to obtain EUA certification from the US FDA for its COVID-19 antigen self-test kit in 2021, with products distributed globally through platforms like Amazon [2] Group 2 - The law firm Zhongyin provided specialized legal advisory services for Jiuan Medical's bond registration, receiving high recognition from the client for its professional capabilities and project experience [1][4] - Jiuan Medical was included in the Fortune China 500 list in 2023 and has established subsidiaries in countries like the United States and France to expand its international business [2]

Group 1: Company Valuation and Financial Performance - The company uses a valuation model based on PB (Price to Book) and PE (Price to Earnings) ratios, with a focus on net financial assets and segment profits [3] - As of mid-2025, the asset allocation includes 59.2% fixed income, 26.2% public equity, 12.6% private equity, and 2.0% hedge funds [3] - The company aims for a long-term return of 6%-10% per year from its diversified asset management strategy [3] Group 2: Business Growth and Market Opportunities - The iHealth product line's revenue in H1 2025 exceeded that of H1 2024, with improved gross margins following the launch of new products [4] - The CGM (Continuous Glucose Monitoring) market in China is projected to reach over 5 billion RMB by 2025, while in the U.S., it could exceed 6 billion USD [4] - The company is expanding its diabetes care model, currently serving approximately 366,000 patients across 424 hospitals in China [6] Group 3: Shareholder Returns and Market Management - The company has committed to a shareholder return plan, ensuring cash dividends (including share buybacks) will not be less than 30% of cumulative net profits from 2025 to 2027 [11] - Since 2021, the company has executed five share buyback programs, spending a total of approximately 2.88 billion RMB and repurchasing 94,921,428 shares [7] - Cumulative cash dividends since 2020 amount to approximately 1.74 billion RMB [7] Group 4: Talent Management and Incentives - The company employs a "cash + equity" compensation model to attract and retain talent, linking employee performance to company value [8] - The management emphasizes the importance of aligning employee interests with shareholder value through stock options and equity participation [8] Group 5: Investment and Strategic Focus - The company is focused on expanding its core business areas, particularly in IVD (In Vitro Diagnostics), home medical devices, and internet healthcare [10] - The company is cautious about pursuing acquisitions outside its main business areas due to the high risks and costs associated with entering unfamiliar markets [10] - The company has initiated investments in venture capital, with some projects entering the IPO preparation stage [9] Group 6: AI and Technological Advancements - The company is developing an "AIoT Diabetes Home Assistant" project to enhance chronic disease management through AI technology [13] - The project aims to improve care efficiency and patient experience by integrating AI with IoT devices [14]

Core Insights - The company reported a significant decline in revenue for the first half of 2025, with total revenue at 765 million yuan, a decrease of 43.35%, while net profit attributable to shareholders increased by 52.91% to 920 million yuan [1] - The company's diabetes care business is experiencing rapid growth, with related revenue reaching 50.26 million yuan, an increase of 58.43% [2] Financial Performance - In Q2 2025, the company generated revenue of 258 million yuan, down 56.12%, but net profit attributable to shareholders rose by 84.54% to 654 million yuan [1] - The iHealth product series saw a revenue of 601 million yuan in H1 2025, a decline of 49.68%, primarily due to a decrease in government orders for single-test reagent kits [2][3] Business Segments - The three-in-one testing products have stable sales and are widely available through major retail channels like Amazon, CVS, and Walmart, maintaining a best-seller status on Amazon [2] - The company has partnered with approximately 74 clinics in the U.S., serving around 21,000 patients in its diabetes care program [2] Asset Management - The company reported investment income and fair value changes totaling 1.125 billion yuan in H1 2025, with a diversified asset portfolio comprising 59.2% fixed income, 26.2% public equity, 12.6% private equity, and 2.0% hedge funds [3] Profitability - The gross margin for the iHealth product series improved to 78.06%, an increase of 1.54 percentage points, attributed to higher sales of high-margin three-in-one testing products [3] Future Outlook - The company expects net profit attributable to shareholders to grow to 1.82 billion yuan, 2.01 billion yuan, and 2.23 billion yuan for the years 2025 to 2027, reflecting year-on-year growth rates of 9.2%, 10.2%, and 11.0% respectively [3]

证券代码：002432 证券简称：九安医疗 公告编号：2025-068 天津九安医疗电子股份有限公司 未来三年（2025年-2027年）股东回报规划 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、误导性陈述或重大遗漏。 天津九安医疗电子股份有限公司（以下简称："公司"、"本公司"）近年 来通过持续开展股份回购，并结合库存股注销的方式积极维护公司市值。自2021 年以来，已先后执行回购方案5次，因回购而支付的总金额合计2,879,334,594.17 元（含部分交易费用），累计回购的股数为94,921,428股。其中，20,182,340股已 完成注销，9,771,882股股本注销已经董事会审议通过，待股东大会审议并通过后 方可实施。与此同时，公司自满足分红条件的年度开始，持续进行现金分红。公 司自2020年以来，累计执行年度现金分红5次，合计派发现金股利1,737,132,699.42 元。 为进一步维护公司市值，增强上市公司股东回报，公司现根据中国证监会《上 市公司监管指引第3号—上市公司现金分红（2025年修订）》《上市公司股份回 购规则》等相关文件精神以及《公司章程》的规定， ...

地址：北京市朝阳区光华路正大中心北塔 11-12 邮编：100020 层 电话：010-65876666 传真：010-65876666-6 北京中银律师事务所 关于天津九安医疗电子股份有限公司 董事会决议对股东临时提案不予提交股东会审议事项 之 法律意见书 二〇二五年九月 法律意见书 北京中银律师事务所 法律意见书 致：天津九安医疗电子股份有限公司 根据《中华人民共和国证券法》（以下简称"《证券法》"）、《中华人民 共和国公司法》（以下简称"《公司法》"）、《上市公司股东会规则》（以下 简称"《股东会规则》"）、《深圳证券交易所股票上市规则》（以下简称"《股 票上市规则》"）、《深圳证券交易所上市公司自律监管指引第 1 号——主板上 市公司规范运作》（2025 年修订）（以下简称"《自律监管 1 号指引》"）、 《上市公司监管指引第 3 号——上市公司现金分红》（以下简称"《监管指引第 3 号》"）《律师事务所从事证券法律业务管理办法》、《律师事务所证券法律 业务执业规则（试行）》等现行有效的法律、法规、规章、规范性文件以及《天 津九安医疗电子股份有限公司章程》（以下简称"《公司章程》"）的规定，北 京中银 ...

证券代码：002432 证券简称：九安医疗 公告编号：2025-066 天津九安医疗电子股份有限公司 一、临时提案情况概述 该项临时提案的主要内容如下： "为积极维护公司市值，增强上市公司股东回报，结合公司实际情况，石河 子三和股权投资合伙企业（有限合伙）提请公司董事会制定《未来三年（2025 年-2027年）股东回报规划》，明确公司应保持利润分配政策的连续性和稳定性， 在满足现金分红条件的前提下，在未来连续三个会计年度内，公司以现金方式（含 股份回购）累计分配的利润不少于未来三年公司累计净利润的30%。此外，公司 将积极结合股份回购、股份注销等方式，进一步丰富落实股东回报的途径。 提请董事会根据股东大会决议，在符合利润分配的条件下，后续在《未来三 年（2025年-2027年）股东回报规划》的框架下，进一步制定具体的现金分红或 股份回购方案，并根据相关法律法规要求，履行审议程序"。 关于2025年第三次临时股东大会增加临时提案 暨补充通知的公告 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9月5日 ...

天津九安医疗电子股份有限公司（以下简称"公司"）于2025年9月5日召开 了第六届董事会第二十五次会议，会议决定于2025年9月22日召开公司2025年第 三次临时股东大会，本次股东大会采用现场投票及网络投票相结合的方式进行。 并于2025年9月6日在巨潮资讯网（http://www.cninfo.com.cn）披露了《关于召开 2025年第三次临时股东大会的通知》（公告编号：2025-064）。 一、股东临时提案具体情况 2025年9月12日，公司收到股东喻荣虎、叶瑞尧、陶文英、深圳瑞峰资产管 理有限公司提交的《关于提请公司董事会增加2025年第三次临时股东大会临时提 案的函》（以下简称"临时提案"）及相关附件材料，提出在公司董事会于2025 年9月22日召开的2025年第三次临时股东大会中增加1项临时提案《关于实施三季 度报特别现金分红20亿的临时议案》，该项临时提案的主要内容如下： 1、近年来，贵公司盈利能力与资本实力持续提升，现金储备充裕，具备实 施三季报特别现金分红的客观条件。 证券代码：002432 证券简称：九安医疗 公告编号：2025-067 天津九安医疗电子股份有限公司 关于股东临时提案不予 ...

证券代码：002432 证券简称：九安医疗 公告编号：2025-065 具 体 内 容 详 见 公 司 同 日 刊 登 于 《 证 券 时 报 》 及 巨 潮 资 讯 网 （http://www.cninfo.com.cn）的《未来三年（2025 年—2027 年）股东回报规划》 （公告编号：2025-068）。 二、以6票同意、0票反对、0票弃权的表决结果，审议通过了《关于2025年 第三次临时股东大会增加临时提案的议案》 公司于2025年9月12日收到控股股东石河子三和股权投资合伙企业（有限合 伙）提交《关于提请公司2025年第三次临时股东大会增加临时议案的提案函》， 提议制定公司《未来三年（2025年—2027年）股东回报规划》。 经审议，上述提案内容属于股东大会职权范围，有明确议题和具体决议事项， 天津九安医疗电子股份有限公司 第六届董事会第二十六次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整， 没有虚假记载、误导性陈述或重大遗漏。 天津九安医疗电子股份有限公司(以下简称"公司"或"本公司")于2025年9 月12日以通讯方式发出召开第六届董事会第二十六次会议的紧急通知，经全 ...

Group 1 - The core viewpoint of the article is that Jiuan Medical (SZ 002432) held its 26th meeting of the 6th board of directors on September 12, 2025, to discuss the addition of temporary proposals for the upcoming temporary shareholders' meeting [1] - For the first half of 2025, Jiuan Medical's revenue composition was as follows: medical devices accounted for 87.74%, internet medical products and services accounted for 6.57%, retail business accounted for 5.03%, and other industries accounted for 0.66% [1] - As of the time of reporting, Jiuan Medical's market capitalization was 18.6 billion yuan [1]