Core Viewpoint - On September 24, Jiuan Medical's stock rose by 2.08%, with a trading volume of 266 million yuan, indicating strong market interest and activity in the company's shares [1]. Financing Summary - On September 24, Jiuan Medical had a financing buy-in amount of 28.14 million yuan and a financing repayment of 46.23 million yuan, resulting in a net financing outflow of 18.09 million yuan [1]. - As of September 24, the total financing and securities lending balance for Jiuan Medical was 1.23 billion yuan, with the financing balance accounting for 6.63% of the circulating market value, indicating a high level of financing activity compared to the past year [1]. - The company had a securities lending repayment of 1,800 shares and a securities lending sell-out of 2,100 shares, with a sell-out amount of 81,600 yuan, and a remaining securities lending balance of 21,390 shares valued at 8.31 million yuan, also at a high level compared to the past year [1]. Business Performance - For the first half of 2025, Jiuan Medical reported a revenue of 765 million yuan, a year-on-year decrease of 43.35%, while the net profit attributable to the parent company was 920 million yuan, reflecting a year-on-year increase of 52.91% [2]. - The company has cumulatively distributed dividends of 1.794 billion yuan since its A-share listing, with 1.39 billion yuan distributed over the past three years [3]. Shareholder Structure - As of September 10, Jiuan Medical had 73,100 shareholders, an increase of 1.53%, with an average of 6,483 circulating shares per person, a decrease of 1.48% [2]. - Among the top ten circulating shareholders, Huabao Zhongzheng Medical ETF held 10.99 million shares, a decrease of 1.836 million shares from the previous period, while Hong Kong Central Clearing Limited entered as a new top ten shareholder with 2.7895 million shares [3].

Group 1 - The company held its 25th meeting of the 6th Board of Directors and the 20th meeting of the 6th Supervisory Board on September 5, 2025, where it approved a proposal to change the purpose of part of the repurchased shares and to cancel them [1] - The company will change the purpose of 9,771,882 shares from "maintaining company value and shareholder rights through sale" to "cancellation and reduction of registered capital," while the remaining purposes will remain unchanged [1] - This matter was approved and became effective at the third extraordinary general meeting of shareholders held on September 22, 2025 [1] Group 2 - Creditors are required to declare their claims within 30 days of receiving the notification or within 45 days from the date of announcement if they did not receive a notification [2] - Required materials for claim declaration include original and photocopies of contracts or agreements proving the creditor-debtor relationship, along with identification documents for legal and natural persons [2] - The declaration period is from September 23, 2025, to November 6, 2025, during specified working hours, and the declaration can be submitted in person or by mail [2] Group 3 - The company issued its first phase of technology innovation bonds for 2025 on August 21, 2025, and the cancellation of repurchased shares and reduction of registered capital does not trigger the need to convene a bondholders' meeting [3]

证券代码：002432 证券简称：九安医疗 公告编号：2025-070 天津九安医疗电子股份有限公司 关于减少注册资本暨通知债权人的公告 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"或"本公司")于2025年 9月5日分别召开了第六届董事会第二十五次会议、第六届监事会第二十次会议， 审议并通过了《关于变更部分回购股份用途并注销的议案》。为积极维护公司市 值，增强上市公司股东回报，本次决议将公司于原在2023年8月29日召开的第六 届董事会第五次会议审议通过的《关于公司回购股份方案的议案》中，因"维护 公司价值及股东权益而出售"目的而回购的部分股份用途进行变更，其中 9,771,882股的用途变更为"用于注销并减少公司注册资本"，剩余用途保持不变。 上述事项业经2025年9月22日召开的2025年第三次临时股东大会审议并通过， 决议生效。公司后续将按照相关规定，向深圳证券交易所和中国证券登记结算有 限责任公司深圳分公司申请办理注销手续，并在注销完成后，及时办理工商变更 登记及章程备案等相关事宜，并及时履行信息披露 ...

层 地址：北京市朝阳区光华路正大中心北塔 11-12 邮编：100020 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 2025 年第三次临时股东大会之 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 关于天津九安医疗电子股份有限公司 2025 年第三次临时股东大会之 法律意见书 致：天津九安医疗电子股份有限公司 北京中银律师事务所（以下简称"本所"）接受天津九安医疗电子股份有限 公司（以下简称"公司"）的委托，指派见证律师出席公司 2025 年第三次临时 股东大会（以下简称"本次股东大会"）进行法律见证，并依据《中华人民共和 国公司法》（以下简称"《公司法》"）、《中华人民共和国证券法》（以下简 称"《证券法》"）、《上市公司股东会规则》（以下简称"《股东会规则》"）、 《上市公司治理准则》（以下简称"《治理准则》"）等法律、法规和规范性文 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》"） 的规定就公司本次股东大会的召集、召开程序、出席会议人员的资格、表决程序、 表决结果等有关事宜出具法律意见书。 ...

证券代码：002432 证券简称：九安医疗 公告编号：2025-069 天津九安医疗电子股份有限公司 2025年第三次临时股东大会决议公告 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。 一、特别提示 1、本次股东大会未出现否决提案的情形。 2、本次股东大会不涉及变更以往股东大会已通过的决议。 二、会议召开情况 （2）网络投票时间：2025年9月22日 通过深圳证券交易所交易系统进行网络投票的具体时间为2025年9月22日上 午9:15至9:25，9:30至11:30和下午13:00至15:00；通过深圳证券交易所互联网投 票的具体时间为：2025年9月22日上午9:15至下午15:00的任意时间。 2、现场召开地点：天津市南开区雅安道金平路三号天津九安医疗电子股份 有限公司一楼会议室 3、召开方式：本次股东大会采取现场表决与网络投票相结合的方式 三、会议出席情况 1、出席会议总体情况 1、会议召开的日期和时间 （1）现场会议时间：2025年9月22日下午14:00 4、召集人：公司董事会 5、主持人：董事长、总经理刘毅先生 6、会议的召集、召开符合《公司法》 ...

（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， ...