Core Viewpoint - ST Kelly plans to invest in Dongzhi Medical Technology (Shanghai) Co., Ltd. through equity transfer and subscription of newly registered capital to meet future strategic development needs [1] Company Summary - Dongzhi Medical is focused on the research, production, and sales of regenerative induction products, including regenerative induction biological patches, active cell patches, umbilical cord stem cell preparations, and amniotic membrane gel dressings [1] - The registered capital of Dongzhi Medical is 1.783679 million yuan [1] - Currently, ST Kelly holds 37.9528% of Dongzhi Medical's equity, corresponding to a registered capital of 676,957 yuan [1] Investment Details - As part of the investment, shareholders Shanghai Lisai Management Consulting Partnership (Limited Partnership) and Yuan Zheng will exit Dongzhi Medical [1] - ST Kelly agrees to acquire the equity held by Lisai Management and Yuan Zheng, and will also increase the capital of Dongzhi Medical [1]

Core Viewpoint - ST Kelly plans to invest in Dongzhi Medical Technology (Shanghai) Co., Ltd. through equity transfer and subscription of newly registered capital to meet future strategic development needs [1] Company Summary - Dongzhi Medical is focused on the research, production, and sales of regenerative induction products, including regenerative induction biological patches, active cell patches, umbilical cord stem cell preparations, and amniotic membrane gel dressings [1] - The registered capital of Dongzhi Medical is 1.783679 million yuan [1] - Currently, ST Kelly holds 37.9528% of Dongzhi Medical's equity, corresponding to a registered capital of 676,957 yuan [1] Investment Details - As part of the investment, shareholders Shanghai Lisai Management Consulting Partnership (Limited Partnership) and Yuan Zheng will exit Dongzhi Medical [1] - ST Kelly agrees to acquire the equity held by Lisai Management and Yuan Zheng, and will also increase the capital of Dongzhi Medical [1]

每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 贾运可） 每经AI快讯，ST凯利（SZ 300326，收盘价：5.65元）11月21日晚间发布公告称，公司第六届第十三次 董事会会议于2025年11月20日在公司会议室以现场结合通讯方式召开。会议审议了《关于投资动之医学 技术（上海）有限公司暨关联交易的议案》等文件。 2024年1至12月份，ST凯利的营业收入构成为：医疗器械制造业占比56.82%，器械消毒服务业占比 26.48%，医疗器械贸易占比14.48%，其他业务占比2.21%。 截至发稿，ST凯利市值为41亿元。 ...

Core Viewpoint - The company plans to invest in Dongzhi Medical Technology (Shanghai) Co., Ltd. by acquiring equity and subscribing to new registered capital, increasing its ownership stake to 50.9014% from 37.9528% [1] Investment Details - The investment involves acquiring shares from existing shareholders Shanghai Lisei Management Consulting Partnership (Limited Partnership) and Yuan Zheng, who will exit Dongzhi Medical [1] - The company will also inject an additional capital of 20 million yuan into Dongzhi Medical [1] Company Profile - Dongzhi Medical specializes in the research, production, and sales of regenerative induction series products, including regenerative induction biological patches, active cell patches, umbilical cord stem cell preparations, and amniotic membrane gel dressings [1] - The registered capital of Dongzhi Medical is 1.783679 million yuan [1] Competitive Advantage - The biological patch products of Dongzhi Medical enhance the company's competitiveness in the field of research and production of regenerative induction series products [1] - The products have completed pre-market clinical trials [1]

为满足公司未来战略发展需求，公司拟通过受让股权并认购新增注册资本的 方式对动之医学技术（上海）有限公司（以下简称"动之医学"）进行投资。其 中，公司将以 1,191,375 元的对价受让上海立赛管理咨询合伙企业（有限合伙） 持有的动之医学 1.1914%股权（对应注册资本 21,250 元）、以 3,574,125 元的对价 受让袁征持有的动之医学 3.5741%股权（对应注册资本 63,750 元）；同时，公司 将对动之医学增资 2,000 万元，其中 297,280 元计入动之医学的注册资本，其余 19,702,720 元计入资本公积。上述交易完成后，公司对动之医学的持股比例从 37.9528%增加至 50.9014%。 1 本议案已经第六届董事会独立董事 2025 年第五次专门会议、第六届董事会 审计委员会第六次会议审议通过。 证券代码：300326 证券简称：ST 凯利 公告编号：2025-113 上海凯利泰医疗科技股份有限公司 第六届董事会第十三次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完 整，没有虚假记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 上海凯利泰医疗科技 ...

证券代码：300326 证券简称：ST 凯利 公告编号：2025-114 上海凯利泰医疗科技股份有限公司 关于投资动之医学技术（上海）有限公司暨关联交易的公告 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、关联交易概述 为满足公司未来战略发展需求，公司拟通过受让股权并认购新增注册资本的方式对 动之医学技术（上海）有限公司（以下简称"动之医学"）进行投资。 （一）本次交易的基本情况 动之医学是一家致力于研发、生产和销售再生诱导系列产品（包括再生诱导生物补 片、再生诱导活细胞补片、脐带干细胞制剂、羊膜凝胶敷料等产品）（以下简称"主营 业务"）的企业，其注册资本为 178.3679 万元。截至目前，公司已持有动之医学 37.9528% 的股权（对应注册资本 676,957 元）。 经各方协商一致，股东上海立赛管理咨询合伙企业（有限合伙）（以下简称"立赛 管理"）、袁征将退出动之医学，公司同意受让立赛管理、袁征持有的动之医学股权；同 时，公司将对动之医学进行增资。 （二）关联关系或其他利益关系说明 公司持有动之医学 37.9528%的股权，公司原董事长袁征先生（ ...

证券代码：300326 证券简称：ST 凯利 公告编号：2025-112 上海凯利泰医疗科技股份有限公司 本公司及董事会全体成员保证公告内容的真实、准确和完整，没 有虚假记载、误导性陈述或重大遗漏。 一、被实施其他风险警示暨可能被实施退市风险警示的相关情况 上海凯利泰医疗科技股份有限公司（以下简称"公司"）2024年度财务报告 内部控制被众华会计师事务所（特殊普通合伙）（以下简称"众华"）出具了无 法表示意见的审计报告。根据《深圳证券交易所创业板股票上市规则》（以下简 称"《创业板股票上市规则》"）第9.4条第（四）项规定，公司出现"（四） 最近一个会计年度财务报告内部控制被出具无法表示意见或者否定意见的审计 报告，或者未按照规定披露财务报告内部控制审计报告"的情形，公司股票交易 被深圳证券交易所实施其他风险警示；根据《深圳证券交易所创业板股票上市规 则》第 10.4.4 条第（五）项规定，上市公司出现"首个会计年度财务报告内部 控制被出具无法表示意见或者否定意见的审计报告，或者未按照规定披露财务报 告内部控制审计报告"的情形，上市公司应当立即披露股票交易可能被实施退市 风险警示的风险提示公告。具体内容详见公 ...

Core Insights - The 24th Chinese Orthopaedic Association (COA) conference showcased significant advancements in orthopedic technology, emphasizing the integration of robotics, navigation, imaging, and biomaterials under the theme "Digital Intelligence in Orthopedics" [2] - The conference attracted 20,188 registered participants and received 37,222 submissions, indicating a strong interest in orthopedic innovations [2] Group 1: Robotics and Navigation Systems - Surgical robots and navigation systems are expanding across various orthopedic fields, moving beyond joint surgeries to include spine, trauma, and sports medicine, focusing on precision and standardization [4] - Companies like Stryker, Tianzhihang, and others are presenting comprehensive orthopedic platforms that integrate imaging, navigation, and robotic arms, forming a closed-loop system for enhanced surgical outcomes [4] - The Trinity system by Tuo Dao Medical demonstrates a unified platform for rapid switching between surgical procedures, showcasing advancements in AI planning and real-time navigation [19] Group 2: Biomaterials and Bone Repair - The competition in bone repair and biomaterials is intensifying, with companies offering innovative solutions such as absorbable screws and 3D-printed bioceramics, focusing on osteogenic activity and infection resistance [4] - Smartbone and other manufacturers are introducing advanced materials that not only fill defects but also promote bone regeneration and integration [4] Group 3: Domestic Innovations - Domestic companies are accelerating the development of high-end joint prosthetics and key materials, with a focus on integrating materials, prosthetic design, and manufacturing processes [4] - The collaboration between local firms and international companies is shifting from product showcases to establishing standards and ecosystems, enhancing the overall orthopedic landscape [4] Group 4: Key Product Launches - Stryker highlighted its latest products, including the Mako robotic system, which integrates multiple surgical techniques for hip and knee replacements, enhancing precision and efficiency [5][7] - Rosenboht signed a strategic partnership with the Chinese University of Hong Kong to advance intelligent surgical technologies, aiming for more precise and minimally invasive orthopedic procedures [12][14] - The launch of the "Panshi Self-Pressing 3D Partition Bone Trabecular Biological Knee Prosthesis" by Jiashite Medical showcases advancements in mechanical stability and biological fixation [40][42] Group 5: Technological Integration - Companies are increasingly focusing on integrating AI and imaging technologies to enhance surgical precision and safety, as seen in the solutions presented by Meiya Optical and other firms [46][50] - The introduction of AR navigation systems by Linyan Medical represents a significant technological advancement, improving the visibility and accuracy of spinal surgeries [53][55] Group 6: Comprehensive Solutions - The conference highlighted the importance of comprehensive solutions that encompass preoperative planning, intraoperative guidance, and postoperative evaluation, as demonstrated by various exhibitors [4][60] - Companies like Weigao and others are showcasing integrated solutions that leverage digital technologies to enhance the entire orthopedic treatment process [100][102]

Core Viewpoint - The company ST凯利 reported that its overseas revenue for the fiscal year 2024 is approximately 219.11 million yuan, accounting for 22.26% of its total revenue for the same period [1]. Group 1: Revenue and Profitability - The overseas market revenue for ST凯利 in 2024 is 219,114,693.56 yuan [1]. - The proportion of overseas revenue to total revenue for 2024 is 22.26% [1]. - The company has a diverse range of overseas customers across various regions, including Europe, America, and Asia [1]. Group 2: Product Segmentation - The products sold in overseas markets include minimally invasive vertebral body products, trauma or spinal orthopedic implants, and low-temperature radiofrequency (energy platform) products [1]. - There are significant differences in gross profit margins for different products across various regions [1].

Core Insights - The company has confirmed that its bone cement business is a significant part of its minimally invasive vertebroplasty operations, and revenue from bone cement products will be included in the financial report for the first three quarters of 2025 [1] - The company's operations are primarily focused on orthopedics, and it has divested its stake in Jianuo Medical Management Group, which means that related revenue from this entity will no longer be included in the consolidated financial statements [1] Company Operations - The bone cement business is an important component of the company's minimally invasive procedures [1] - As of the board meeting on August 4, 2025, the company approved the sale of its stake in Jianuo Medical Management Group and the reduction of its investment in Shanghai Jingzheng Medical Technology Co., Ltd [1] - Following the completion of this divestiture, the company will no longer hold shares in Jianuo Medical and its subsidiaries, thus excluding their revenue from future consolidated reports [1]