Financial Performance - The company achieved revenue of 843 million CNY in the first half of 2025, a year-on-year increase of 2.40% [3] - Net profit attributable to shareholders reached 61.83 million CNY, up 12.82% year-on-year [3] - Medical services segment revenue was 653 million CNY, growing 2.28% year-on-year [3] - Medical device segment revenue was 190 million CNY, with a year-on-year increase of 2.80% [3] Oncology Services - Revenue from oncology services reached 215 million CNY, a significant increase of 25.14% [3] - The number of level IV surgeries increased by 6.62% [3] - The outpatient volume at Friendship Hospital reached 24,200 visits, up 21.59% year-on-year [3] - The proportion of level IV surgeries at Friendship Hospital increased by 8 percentage points [3] Medical Device Market - The company’s infusion pump market share exceeded 10%, ranking third in the domestic market [16] - The mammography device market share is approximately 10%, also ranking third [17] - Overseas revenue for medical devices grew by 35% year-on-year [18] AI Integration - AI applications have improved clinical capabilities, reducing complication rates by 10% and average hospital stays by 1-2 days [15] - The efficiency of image diagnosis increased by 66%, and patient follow-up efficiency improved by 300% [15] - Patient Net Promoter Score (NPS) reached 92.5%, surpassing the industry average of 90% [15] Hospital Operations - Sichuan Friendship Hospital generated revenue of 291 million CNY, maintaining stability amid competition [6] - Suzhou Guangci Hospital achieved revenue of 269 million CNY, with a year-on-year growth of 1.69% [7] - The company’s managed hospitals, including Yuncheng Hospital, have seen significant operational improvements, with surgical volumes increasing by 18% [12] Strategic Developments - The acquisition of Changsha Kexin Oncology Hospital enhances the company’s oncology ecosystem and regional presence [10] - The company is focusing on differentiated services and expanding its service ecosystem through partnerships and AI integration [9]

据证券之星公开数据整理，近期盈康生命（300143）发布2025年中报。截至本报告期末，公司营业总收 入8.43亿元，同比上升2.4%，归母净利润6182.72万元，同比上升12.82%。按单季度数据看，第二季度 营业总收入4.34亿元，同比上升6.62%，第二季度归母净利润3183.46万元，同比上升11.41%。本报告期 盈康生命应收账款上升，应收账款同比增幅达45%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率26.82%，同比增1.89%，净利率7.27%，同比增 10.39%，销售费用、管理费用、财务费用总计1.11亿元，三费占营收比13.19%，同比减10.55%，每股净 资产3.33元，同比增53.53%，每股经营性现金流0.2元，同比减42.0%，每股收益0.08元，同比减3.26% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 8.23 亿 | 8.43 乙 | 2.40% | | 归母净利润（元） | 5480.11万 | 6182.72万 | 12.82% | | 扣非净利润(元) ...

Core Viewpoint - 盈康生命 reported a solid performance in the first half of the year, with both revenue and net profit showing growth, indicating a trend of high-quality development in the company. Financial Performance - The company achieved operating revenue of 843 million yuan, a year-on-year increase of 2.4% [1] - Net profit attributable to shareholders reached 61.83 million yuan, up 12.8% year-on-year [1] - The net profit after deducting non-recurring items was 60.59 million yuan, reflecting a 19.2% increase [1] - Gross margin improved by 0.5 percentage points, while expense ratio decreased by 2 percentage points, showcasing operational efficiency [1] Business Development - In the medical services sector, the company is advancing its tumor ecosystem evolution and differentiation strategy, with medical services revenue reaching 653 million yuan, a 2.28% increase [2] - Tumor-related revenue grew significantly by 25.14% to 215 million yuan, driven by increased patient visits and a rise in advanced tumor surgeries [2] - The company expanded its regional presence by acquiring Changsha Kexin Tumor Hospital, enhancing its capabilities in minimally invasive tumor treatments [2] AI Integration - The company has implemented a "medical + AI" strategy, leading to improved service capacity and efficiency, with a 10% year-on-year increase in per capita service volume [3] - Overall expense ratio was optimized to 15.7%, a 2 percentage point improvement [3] Medical Device Growth - The company achieved significant growth in its medical device segment, with overseas revenue increasing by 35% due to targeted strategies [4] - In the domestic market, the company’s products are undergoing high-end upgrades, with a coverage rate exceeding 40% in top-tier hospitals [4] - The company’s infusion pumps and mammography equipment have gained a market share of over 10%, ranking third in their respective categories [4] - The company has expanded its global presence by adding nine overseas distributors, enhancing its market reach across various regions [4]

Core Viewpoint - Yingkang Life (300143) emphasizes its commitment to fulfilling relevant promises and addressing competition issues through the management of its subsidiary, Shanxi Yingkang Yisheng Hospital Co., Ltd. (Yuncheng Hospital) [1] Group 1 - The company and its actual controller are actively engaged in resolving competition issues through a management approach [1] - Continuous efforts are being made to promote standardized operations and business development at Yuncheng Hospital [1]

（文章来源：证券日报） 证券日报网讯盈康生命8月25日在互动平台回答投资者提问时表示，公司始终关注并积极评估与主业相 关的前沿技术及应用场景，包括机器人在医疗、养老服务等领域的创新探索。如发生相关合作且达到信 息披露标准，公司将严格按照相关规定，及时履行信息披露义务。 ...

Summary of Yingkang Life's Conference Call Company Overview - **Company**: Yingkang Life - **Industry**: Healthcare and Medical Services Key Financial Performance - **Total Revenue**: 8.43 billion yuan in H1 2025, up 2.4% year-on-year [3] - **Net Profit**: 61.83 million yuan, up 12.82% year-on-year [3] - **Medical Services Revenue**: 6.53 billion yuan, up 2.28% year-on-year [2] - **Medical Devices Revenue**: 1.9 billion yuan, up 2.8% year-on-year [6] Medical Services Segment - **Oncology Revenue**: 2.15 billion yuan, up 25.14% year-on-year [2] - **Surgical Volume**: Increased by 6.62% for tertiary and quaternary surgeries [2] - **Outpatient Visits**: 24,200 visits for oncology outpatient services, up 21.59% [4] - **Hospital Performance**: Key indicators improved, with inpatient visits up 17% [9] Medical Devices Segment - **Equipment and Consumables Revenue**: Increased by 13.34% [6] - **Overseas Market Growth**: Revenue up 35%, now accounting for 30% of total revenue [6] Strategic Initiatives - **AI Empowerment**: Business model reconstruction through AI to enhance management and diagnostic capabilities [2][7] - **Comprehensive Treatment System**: Development of a full-cycle treatment service system to optimize disease structure and improve CMI values [8] - **Regional Expansion**: Physical bed capacity expansion to solidify regional medical centers [12] Challenges and Responses - **Industry Changes**: Facing challenges from medical reform, payment method changes, and volume-based procurement [7] - **Operational Efficiency**: Focus on lean operations and personalized services to enhance competitiveness [7][15] - **Policy Adaptation**: Adjusting to DRG 2.0 and optimizing service offerings to maintain revenue [8][16] Future Growth Strategies - **Out-of-Hospital Revenue**: Targeting growth through AI health management services [14] - **Investment and M&A**: Plans for future project investments and acquisitions as appropriate [14] - **Innovative Medical Devices**: Ongoing development of new products for potential inclusion in DRG exclusion payment directory [23] Additional Insights - **User Experience**: Enhancing patient experience through differentiated health management solutions [10] - **Cost Management**: Strengthening drug and consumable management to optimize clinical pathways [9][20] - **Market Positioning**: Maintaining a competitive edge through innovative technologies and personalized care [19][22] This summary encapsulates the key points from Yingkang Life's conference call, highlighting financial performance, strategic initiatives, challenges, and future growth plans.

Core Insights - The company reported a slight increase in revenue and a significant rise in net profit for the first half of 2025, attributed to both external acquisitions and internal growth driven by AI technology [1][2]. Financial Performance - The company achieved a revenue of 843 million yuan, a year-on-year increase of 2.4% [1]. - The net profit attributable to shareholders was 61.83 million yuan, reflecting a year-on-year growth of 12.8% [1]. Business Segments - The medical services segment generated 653 million yuan in revenue, with the oncology business being a key growth driver, contributing 215 million yuan, a 25.14% increase year-on-year [2]. - The company completed the acquisition of a 51% stake in Changsha Kexin Tumor Hospital for 357 million yuan, enhancing its presence in the central China region [2]. Operational Efficiency - The overall expense ratio decreased by 2 percentage points, while the average service volume per employee increased by 10% [3]. - The company reported an average revenue per employee of 710,000 yuan, up 8.9%, and an average profit per employee of 52,600 yuan, up 20.2% [3]. Market Expansion - The overseas market revenue grew by 35% year-on-year, while the domestic market share also showed steady improvement [3]. - The company achieved significant milestones in product registration and certification, including the EU MDR certification for its third-generation digital mammography machine [3]. Strategic Focus - The company aims to diversify its product offerings across tumor prevention, diagnosis, treatment, and health management to reduce reliance on overseas markets [5].

Core Insights - The company reported a revenue of 843 million yuan for the first half of the year, representing a year-on-year growth of 2.4% [1] - The net profit attributable to shareholders reached 61.83 million yuan, showing a year-on-year increase of 12.8% [1] - The net profit after deducting non-recurring items was 60.59 million yuan, reflecting a year-on-year growth of 19.2% [1] - The gross margin improved by 0.5 percentage points, while the expense ratio decreased by 2 percentage points, indicating significant operational efficiency improvements [1] Business Performance - The core business in the medical services sector continued to advance in tumor ecological evolution and differentiated development [1] - The integration of medical services with AI has strengthened the company's competitive advantages [1] - During the reporting period, revenue from medical services reached 653 million yuan, marking a year-on-year increase of 2.28% [1]

Core Viewpoint - The company, Yingkang Life, has made significant strategic moves, including the acquisition of a 51% stake in Changsha Kexin Tumor Hospital to enhance its capabilities in the medical services sector and improve its financial performance [8]. Group 1: Financial and Operational Highlights - The company plans not to distribute cash dividends or issue bonus shares for the reporting period [2]. - A change in accounting policy was implemented, affecting the recognition of estimated liabilities related to quality guarantees, which will be reflected in the financial statements [3]. - The total amount for the acquisition of the 51% stake in Changsha Kexin is RMB 357 million, funded through self-owned and self-raised funds [8]. Group 2: Corporate Governance Changes - The company experienced changes in its board of directors, with the resignation of the general manager and a vice president, leading to the appointment of a new general manager [10]. - The board approved the nomination of new non-independent directors to ensure compliance with corporate governance standards [10]. Group 3: Structural Adjustments - The company is restructuring its subsidiaries into two major platforms: medical devices and medical services, to enhance resource integration capabilities [10].

Meeting Overview - The board meeting of Yingkang Life Technology Co., Ltd. was held on August 12, 2025, via telephone and email, with all 9 directors present and voting [1] - The meeting was chaired by Ms. Tan Lixia, and the company's senior management attended [1] Financial Report Approval - The board unanimously approved the company's 2025 semi-annual report, confirming it accurately reflects the financial status and operational results for the first half of 2025, with no false records or misleading statements [1][2] - The voting results for this agenda item were 9 votes in favor, 0 against, and 0 abstentions [2] Fund Usage Report - The board approved a special report on the storage and usage of raised funds for the first half of 2025, confirming compliance with relevant regulations and no misuse of funds [2] - The voting results for this agenda item were also 9 votes in favor, 0 against, and 0 abstentions [2] Cash Management Proposal - The board approved the use of up to RMB 300 million of idle self-owned funds for cash management, aiming to enhance fund efficiency and reduce financial costs, with a validity period of 12 months [3] - The board authorized the general manager to make investment decisions within the approved limits [3] - The voting results for this agenda item were 9 votes in favor, 0 against, and 0 abstentions [3]