证券代码：300253 证券简称：卫宁健康 公告编号：2025-047 卫宁健康科技集团股份有限公司 2024 年年度权益分派实施公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 特别提示： 1、根据《公司法》规定，公司回购专用证券账户中持有的本公 司股份14,256,400股不享有利润分配权利，不参与本次权益分派。因 此，本次权益分派以公司总股本2,212,596,884股剔除回购专用证券 账户持有的14,256,400股后的股本2,198,340,484股为基数，按照分 配比例不变的原则，向全体股东每10股派发现金股利0.15元（含税）， 不 送 红 股 ， 不 以 资 本 公 积 金 转 增 股 本 ， 实 际 现 金 分 红 总 额 32,975,107.26元（含税）。 2、公司计算除权除息价格时，按总股本（含回购股份）折算每 股派息（含税），具体如下： 按总股本（含回购股份）折算的每10股派息（含税）=实际现金 分红总额 / 总股本（含回购股份） *10 股 =32,975,107.26 元 /2,212,596,884股*10股=0.1490 ...

Fundraising Overview - The company has successfully issued 9,702,650 convertible bonds at a face value of RMB 100 each, raising a total of RMB 970.265 million, with a net amount of RMB 961,209,622.64 after expenses [1][2]. Fund Management - The company has implemented a dedicated account storage system for the raised funds, adhering to regulatory requirements and internal management policies [2]. - A tripartite supervision agreement has been signed with banks to ensure proper management of the funds, with adjustments made as necessary for project changes [2]. Fund Account Status - Several fundraising accounts have been canceled due to project completion and the decision to permanently supplement remaining funds into working capital, reducing management costs [3][4].

证券代码：300253 证券简称：卫宁健康 公告编号：2025-046 债券代码：123104 债券简称：卫宁转债 卫宁健康科技集团股份有限公司 关于注销部分可转换公司债券募集资金专户的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 一、募集资金到位情况 卫宁健康科技集团股份有限公司（以下简称"公司"）经中国证 券监督管理委员会《关于同意卫宁健康科技集团股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可［2021］311 号） 核准，获准向不特定对象发行可转换公司债券 970.2650 万张，每张 面值为人民币 100 元，按面值发行，募集资金总额为人民币 970,265,000.00 元，扣除各项发行费用不含税金额合计人民币 9,055,377.36 元后，实际募集资金净额为人民币 961,209,622.64 元。 容诚会计师事务所（特殊普通合伙）已对公司向不特定对象发行可转 换公司债券的募集资金到位情况进行了审验，并于 2021 年 3 月 23 日 出具了"容诚验字[2021]200Z0016 号"《验资报告》。公司对募集资 金采 ...

Investment Rating - The report maintains an "Outperform" rating for the company with a target price of 13.05 RMB [1][8]. Core Views - The company is expected to see continuous improvement in its main business due to favorable trends in order wins and accelerated promotion of new products like WiNEX. The advancement of AI in the healthcare sector is anticipated to further expand the company's market space [1][8]. - In 2024, the company reported a revenue of 2.78 billion RMB, a decrease of 12.05%, and a net profit attributable to shareholders of 0.088 billion RMB, down 75.45%. This decline was primarily due to deferred demand and delays in bidding and delivery acceptance [8]. - The company’s new core product, WiNEX, has entered a rapid delivery phase, which is expected to enhance operational quality. The operational efficiency has improved significantly, with total sales, management, and R&D expenses decreasing by 17.94% in 2024 [8]. - The company has made significant strides in AI healthcare, deploying over 80 users with foundational models and AI applications in Q1 2025. The release of WiNGPT 3.0 and WiNEX Copilot 2.2 is expected to enhance the capabilities of medical model inference and intelligent technology applications [8]. Financial Summary - The company’s projected net profit attributable to shareholders for 2025-2027 is expected to be 0.481 billion RMB, 0.645 billion RMB, and 0.829 billion RMB respectively, with EPS of 0.22 RMB, 0.29 RMB, and 0.37 RMB [3][8]. - The company’s revenue is projected to recover to 3.11 billion RMB in 2025, with a growth rate of 11.8% compared to 2024 [3][8]. - The company’s operating cash flow for 2024 was 0.408 billion RMB, reflecting a significant increase of 120.53% [8].

Industry Overview and Core Value - AI in healthcare utilizes machine learning and computer vision to analyze medical data, aiming to enhance efficiency, reduce costs, and optimize patient experience [1][14] - The Chinese government has introduced policies to promote AI integration in healthcare, identifying 84 application scenarios [1][22] Development History and Market Size - The development of AI in healthcare in China can be divided into three phases: the nascent phase (1978-2015), the starting phase (2015-2021), and the exploratory phase (2021-present) [2][25] - The market size for AI healthcare in China is projected to reach 115.7 billion yuan by 2025 and 159.8 billion yuan by 2028, with a CAGR of 10.5% [2][39] Industry Chain and Segmentation - The AI healthcare industry chain includes upstream (data, algorithms, computing power), midstream (computer vision, NLP), and downstream (imaging, pharmaceuticals, health management) [3][43] - Key segments include: - AI Medical Imaging: Expected market size of approximately 7.45 billion yuan in 2024, growing to 23.57 billion yuan by 2026 [3] - AI Pharmaceuticals: Global market size projected at 2.994 billion USD in 2024 [3] - AI Health Management: Market size nearing 1.4 trillion yuan in 2024 [3] Challenges and Future Trends - Current challenges include insufficient data standardization, privacy protection, and high implementation costs [4] - Future trends involve: - Deepening technology integration, such as combining large models with multimodal technologies [4] - Promoting domestic production and self-control in hardware and algorithms [4] - Expanding application scenarios from hospitals to grassroots healthcare [4] - Policy-driven commercialization in areas like telemedicine and imaging recognition [4] Representative Company Layout - Key companies in the AI healthcare sector include: - Xiangsheng Medical: Portable ultrasound devices recognized internationally [5] - RunDa Medical: Integration of in vitro diagnostics with AI [5] - United Imaging: High-end imaging equipment with over 20% market share [5] - iFlytek Medical: Comprehensive coverage of the medical process with its large model [5]

证券代码：300253 证券简称：卫宁健康 公告编号：2025-045 债券代码：123104 债券简称：卫宁转债 卫宁健康科技集团股份有限公司 关于权益分派期间卫宁转债暂停转股的提示性公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示： 债券代码：123104，债券简称：卫宁转债 转股起止时间：2021 年 9 月 22 日至 2027 年 3 月 15 日 暂停转股时间：2025 年 5 月 22 日至 2024 年度权益分派股权登 记日止 恢复转股时间：公司 2024 年度权益分派股权登记日后的第一个 交易日 特此公告。 卫宁健康科技集团股份有限公司 董 事 会 二〇二五年五月二十一日 附件：《卫宁健康科技集团股份有限公司创业板向不特定对象发行可转换公司 债券募集说明书》中"转股价格的确定及调整"条款的规定 在本次发行之后，当公司发生派送股票股利、转增股本、增发新股（不包括 因本次发行的可转债转股而增加的股本）、配股以及派发现金股利等情况时，公 司将按上述条件出现的先后顺序，依次对转股价格进行累积调整（保留小数点后 两位，最后一位四舍五入）， ...

Investment Rating - The report maintains a "Recommendation" rating for the company, with a target price of 11.28 CNY for 2025 [2][7]. Core Views - The company is experiencing a short-term performance pressure due to deferred downstream demand, but it is expected to improve as the WiNEX product enters a rapid delivery phase [7]. - The company has achieved a significant market share of 13.4% in the core hospital system market in China, ranking first [7]. - The company is focusing on enhancing its operational quality, with a notable increase in cash flow from operating activities, which grew by 120.5% year-on-year [7]. Financial Summary - Total revenue for 2024 is projected at 2,782 million CNY, a decrease of 12.0% year-on-year, with a net profit of 88 million CNY, down 75.4% year-on-year [3][7]. - For 2025, the company expects revenue to increase to 3,147 million CNY, reflecting a growth rate of 13.1%, and net profit to rise significantly to 384 million CNY, indicating a growth rate of 336.7% [3][7]. - The company’s earnings per share (EPS) is projected to be 0.04 CNY in 2024, increasing to 0.17 CNY in 2025 [3][7]. Business Development - The company is actively developing its WiNEX product line and has made significant investments in AI applications, with R&D expenses accounting for 20.2% of revenue [7]. - The company has established a digital health application ecosystem, with subsidiaries generating revenues of 1.6 million CNY, 2.1 million CNY, and 1.9 million CNY respectively in 2024 [7]. - The company is enhancing its international presence, exemplified by the successful implementation of a project at the Macau Concordia Hospital [7].

Investment Rating - The report maintains a "Recommendation" rating for the company, with a target price of 11.28 CNY for 2025 [2][7]. Core Views - The company is experiencing a short-term performance pressure due to deferred downstream demand, but it is expected to improve as the WiNEX product enters a rapid delivery phase [7]. - The company has established itself as a leader in medical information technology, with significant market share and ongoing investments in AI and product development [7]. - Financial forecasts indicate a substantial recovery in net profit from 2025 onwards, with expected growth rates of 336.7% in 2025, 16.0% in 2026, and 15.7% in 2027 [7]. Financial Summary - Total revenue is projected to increase from 27.82 billion CNY in 2024 to 40.04 billion CNY in 2027, with a compound annual growth rate (CAGR) of approximately 12.8% from 2025 to 2027 [3][8]. - The net profit is expected to rise from 0.88 billion CNY in 2024 to 5.15 billion CNY in 2027, reflecting a significant recovery after a sharp decline in 2024 [3][8]. - The earnings per share (EPS) is forecasted to grow from 0.04 CNY in 2024 to 0.23 CNY in 2027, indicating a positive trend in profitability [3][8]. Business Development - The company is focusing on enhancing its WiNEX product line and expanding its digital health applications, which are expected to drive future growth [7]. - The company has achieved over 600 certifications in the medical information technology sector, establishing a robust and self-controlled technology system [7]. - The company is also making strides in international markets, with successful projects like the Macau Concordia Hospital [7].

Core Viewpoint - The company announced the results of the convertible bond repurchase, indicating that no bonds were repurchased during the designated period, which will not significantly impact its financial status or operational capabilities [1][2]. Group 1: Announcement of Convertible Bond Repurchase - The company published multiple announcements regarding the repurchase of its convertible bonds, allowing holders to sell their bonds back to the company at a price of 100.281 CNY per bond, including interest and tax [1][2]. - The repurchase period was specified to end on May 16, 2025, after which the company would not need to process any payments to bondholders [2]. Group 2: Repurchase Results and Impact - The total number of valid repurchase applications for the "卫宁转债" was reported as 0, resulting in a repurchase amount of 0 CNY [2]. - The company stated that the lack of repurchase will not have a significant effect on its financial condition, operational results, cash flow, or capital structure, and it will not impair its debt servicing ability or ongoing operations [2].

卫宁健康科技集团股份有限公司 关于卫宁转债回售结果的公告 本公司及董事会全体成员保证信息披露内容的真实、准确、完 整，没有虚假记载、误导性陈述或重大遗漏。 特别提示 证券代码：300253 证券简称：卫宁健康 公告编号：2025-044 债券代码：123104 债券简称：卫宁转债 1、债券简称：卫宁转债 2、债券代码：123104 3、回售申报期：2025 年 5 月 12 日至 2025 年 5 月 16 日 4、回售价格：100.281 元/张（含息、税） 5、回售有效申报数量：0 张 6、回售金额：0 元（含息、税） 示性公告》（公告编号：2025-031）、《关于卫宁转债回售的第三次提 示性公告》（公告编号：2025-032）、《关于卫宁转债回售的第四次提 示性公告》（公告编号：2025-033）、《关于卫宁转债回售的第五次提 示性公告》（公告编号：2025-035）、《关于卫宁转债回售的第六次提 示性公告》（公告编号：2025-036）、《关于卫宁转债回售的第七次提 示性公告》（公告编号：2025-037）、《关于卫宁转债回售的第八次提 示性公告》（公告编号：2025-039）、《关于卫宁转债回售的 ...