证券代码：300529 证券简称：健帆生物 公告编号：2025-065 健帆生物科技集团股份有限公司（以下简称"公司"）第五届董事会第三十 一次会议于 2025 年 8 月 21 日在公司会议室以现场会议及通讯表决的方式召开， 本次会议应出席董事 9 人，实际出席董事 9 人，符合《公司法》和《公司章程》 的有关规定。本次会议通知提前以电子邮件及电话通知等方式向全体董事送达。 公司董事长董凡先生召集和主持了本次会议，公司监事和部分高级管理人员列席 了会议。本次董事会的召开符合《公司法》和《公司章程》的有关规定。 二、董事会会议审议情况 债券代码：123117 债券简称：健帆转债 健帆生物科技集团股份有限公司 第五届董事会第三十一次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、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 经与会董事认真讨论，审议并表决通过了以下议案： 1、审议通过了《2025 年半年度报告》及《2025 年半年度报告摘要》 经审核，董事会认为：公司编制的《2025 年半年度报告》及《2025 年半年 度报告摘要》的程序符合法律、行政法规和中国证监会的 ...

[Important Notice, Table of Contents and Definitions](index=2&type=section&id=Item%20I.%20Important%20Notice%2C%20Table%20of%20Contents%20and%20Definitions) [Company Profile and Key Financial Indicators](index=7&type=section&id=Item%20II.%20Company%20Profile%20and%20Key%20Financial%20Indicators) [Company Profile](index=7&type=section&id=I.%20Company%20Profile) Jafron Biomedical Co., Ltd. (stock code: 300529) is a company listed on the Shenzhen Stock Exchange, with Dong Fan as its legal representative Company Information | Item | Information | | :--- | :--- | | **Stock Abbreviation** | Jafron Biomedical | | **Stock Code** | 300529 | | **Listing Exchange** | Shenzhen Stock Exchange | | **Company Name** | Jafron Biomedical Co., Ltd. | | **Legal Representative** | Dong Fan | [Key Accounting Data and Financial Indicators](index=8&type=section&id=IV.%20Key%20Accounting%20Data%20and%20Financial%20Indicators) During the reporting period, the company's operating revenue and net profit both significantly declined, with operating revenue at **1.134 billion Yuan**, down **24.15%** year-on-year, and net profit attributable to shareholders at **389.72 million Yuan**, down **29.46%** year-on-year, while net cash flow from operating activities was **538.28 million Yuan**, a **28.16%** decrease Key Financial Indicators | Key Financial Indicators | Current Reporting Period | Prior Year Same Period | Year-on-Year Change | | :--- | :--- | :--- | :--- | | **Operating Revenue (Billion Yuan)** | 1.134 | 1.496 | -24.15% | | **Net Profit Attributable to Shareholders (Million Yuan)** | 389.72 | 552.51 | -29.46% | | **Net Profit Attributable to Shareholders Excluding Non-Recurring Gains and Losses (Million Yuan)** | 372.95 | 525.88 | -29.08% | | **Net Cash Flow from Operating Activities (Million Yuan)** | 538.28 | 749.27 | -28.16% | | **Basic Earnings Per Share (Yuan/share)** | 0.51 | 0.69 | -26.09% | | **Weighted Average Return on Net Assets** | 11.35% | 16.91% | -5.56% | | **Total Assets (Billion Yuan)** | 5.267 | 5.383 | -2.16% (Period-end vs. Prior Year-end) | | **Net Assets Attributable to Shareholders (Billion Yuan)** | 3.123 | 3.334 | -6.33% (Period-end vs. Prior Year-end) | [Non-Recurring Gains and Losses and Amounts](index=8&type=section&id=VI.%20Non-Recurring%20Gains%20and%20Losses%20and%20Amounts) During the reporting period, the company's total non-recurring gains and losses amounted to **16.77 million Yuan**, primarily from fair value changes and investment income on financial assets, government subsidies, and non-operating expenses Non-Recurring Gains and Losses | Item | Amount (Million Yuan) | | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | -1.46 | | Government Subsidies Recognized in Current Profit/Loss | 10.28 | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities | 29.93 | | Other Non-Operating Income and Expenses | -19.27 | | **Total** | **16.77** | [Management Discussion and Analysis](index=10&type=section&id=Item%20III.%20Management%20Discussion%20and%20Analysis) [Company's Main Businesses, Operating Models, and Industry Development](index=10&type=section&id=I.%20Company's%20Main%20Businesses%20During%20the%20Reporting%20Period) The company focuses on R&D, production, and sales of blood purification products, with core products including hemoperfusion cartridges, maintaining strong gross and net profit margins despite revenue decline due to a high base, while expanding new products and international markets - The company's main business involves the R&D, production, and sales of biomaterials and high-tech medical devices, with core products including disposable hemoperfusion cartridges, plasma bilirubin adsorbers, hemodialysis powder/liquid, and blood purification equipment[29](index=29&type=chunk) - Product applications cover four major areas: nephrology, hepatology, critical care, and immunology, offering diverse treatment solutions for various diseases[29](index=29&type=chunk) - In the first half of 2025, the company achieved operating revenue of **1.134 billion Yuan**, a **24.15%** year-on-year decrease, and net profit of **389 million Yuan**, a **29.46%** year-on-year decrease, primarily due to a high base from significant sales growth in the prior year due to product price reductions[56](index=56&type=chunk) - The company maintains strong profitability, with a gross profit margin of **79.82%** and a net profit margin of **34.26%** during the reporting period, and net cash flow from operating activities of **538.28 million Yuan**, exceeding current net profit[56](index=56&type=chunk) [Main Businesses and Products](index=10&type=section&id=(I)%20Company's%20Main%20Businesses%20and%20Products) - The company's main business involves the R&D, production, and sales of biomaterials and high-tech medical devices, with core products including disposable hemoperfusion cartridges, plasma bilirubin adsorbers, hemodialysis powder/liquid, and blood purification equipment[29](index=29&type=chunk) - Product applications cover four major areas: nephrology, hepatology, critical care, and immunology, offering diverse treatment solutions for various diseases[30](index=30&type=chunk)[31](index=31&type=chunk) Main Products and Applications by Field | Field | Main Products and Uses | | :--- | :--- | | **Nephrology** | HA, KHA, PHA series hemoperfusion cartridges, used for uremia patients at different stages and with complications | | **Hepatology** | HA330-II hemoperfusion cartridges, BS series plasma bilirubin adsorbers, used for severe liver disease treatment | | **Critical Care** | HA330/HA380 hemoperfusion cartridges, CA series cytokine adsorption columns, used for poisoning, sepsis, etc. | | **Immunology** | HA280 hemoperfusion cartridges, DNA230 immune adsorption columns, used for rheumatic immune diseases and systemic lupus erythematosus | - As of the end of the reporting period, the company holds **29** medical device registration certificates (**25** of which are Class III), and newly obtained **1** product registration certificate and **2** CE certifications[35](index=35&type=chunk) [Main Operating Models](index=15&type=section&id=(II)%20Main%20Operating%20Models) - The company adopts a combination of independent R&D and collaborative R&D, focusing on building continuous independent R&D capabilities[40](index=40&type=chunk) - Core raw material HA resin is procured through a directed purchasing model, where the company provides key formulations and processes, and suppliers produce exclusively for the company under guidance[41](index=41&type=chunk) - The production model involves batch continuous production of standardized products, maintaining approximately two months of safety stock[42](index=42&type=chunk) - The sales model is primarily distributor buy-out, but the company builds its own promotion team for market development, academic promotion, and technical services to control the market[43](index=43&type=chunk) [Industry Development During the Reporting Period](index=16&type=section&id=(III)%20Industry%20Development%20During%20the%20Reporting%20Period) - In 2023, the global medical device market reached **582.6 billion USD**, a **9.35%** year-on-year increase, while the Chinese market reached **1.03 trillion Yuan**, a **7.79%** year-on-year increase[45](index=45&type=chunk) - The National Healthcare Security Administration's June 2025 guidelines added "Hemodialysis Perfusion Fee" and "Plasma Adsorption Fee" items, signifying national recognition of hemoperfusion technology and potential policy-driven growth[47](index=47&type=chunk) - As of the end of 2024, China had approximately **1.027 million** hemodialysis patients, a **12%** year-on-year increase, but the dialysis treatment rate remains significantly lower than in Europe and the US, indicating huge market growth potential[47](index=47&type=chunk) - The company's pioneering DPMAS technology (artificial liver treatment model) has been incorporated into six guidelines, four consensuses, and three norms, providing crucial evidence-based support for clinical application[49](index=49&type=chunk)[50](index=50&type=chunk) [Company's Industry Position](index=18&type=section&id=(IV)%20Company's%20Industry%20Position) - The company holds a dominant position in China's hemoperfusion cartridge industry and was recognized as a "Sixth Batch Manufacturing Single Champion Demonstration Enterprise" by the Ministry of Industry and Information Technology in November 2021[55](index=55&type=chunk) [Key Performance Drivers](index=18&type=section&id=(V)%20Key%20Performance%20Drivers) Performance Drivers by Business Segment | Business Segment | Revenue During Reporting Period (Million Yuan) | Revenue Share | Key Progress | | :--- | :--- | :--- | :--- | | **Nephrology** | 784.97 | 69.20% | KHA series product revenue increased by **27.34%** year-on-year, and PHA series by **374.22%** year-on-year | | **Hepatology** | 131.53 | 11.59% | DPMAS technology newly included in "Guidelines for Diagnosis and Treatment of Chronic-on-Acute Liver Failure" | | **Critical Care** | 142.31 | 12.54% | CA series cytokine adsorption column revenue increased by **36.15%** year-on-year | | **Blood Purification Equipment** | 19.34 | 1.71% | Future F20 equipment obtained EU MDR CE certification | | **International Business** | 34.44 | 3.04% | Products are applied in over **2,000** hospitals across **98** countries | - R&D investment during the reporting period was **97 million Yuan**, accounting for **8.59%** of revenue, with **15** new authorized patents obtained (**3** for invention)[74](index=74&type=chunk) - The company completed its 2024 profit distribution, paying **620 million Yuan** in cash dividends, with a dividend payout ratio exceeding **75%**, and cumulative dividends since listing totaling **4.07 billion Yuan**, **2.9 times** the IPO and refinancing amounts[76](index=76&type=chunk) [Analysis of Core Competitiveness](index=22&type=section&id=II.%20Analysis%20of%20Core%20Competitiveness) The company's core competitiveness stems from its technological leadership, robust marketing system, stringent quality control, and strong human resources, ensuring sustained development - The company possesses national enterprise technology centers and academician workstations, was awarded the National Science and Technology Progress Award (Second Prize), and holds complete independent intellectual property rights from raw materials to products[78](index=78&type=chunk) - Core technological advantages include carrier preparation, encapsulation, ligand, and medical-grade purification technologies, ensuring product adsorption efficacy and biocompatibility[80](index=80&type=chunk)[81](index=81&type=chunk) - A professional academic promotion team of over **1,000** people cultivates market demand through a multi-level academic promotion system[84](index=84&type=chunk) - The company was among the first batch of enterprises nationwide to pass medical device GMP inspection, with products certified under MDR regulations, CE, and ISO international quality management systems, ensuring product quality[85](index=85&type=chunk) [Analysis of Main Business](index=24&type=section&id=III.%20Analysis%20of%20Main%20Business) During the reporting period, the company's key financial metrics declined year-on-year, with operating revenue down **24.15%**, while financial expenses significantly increased by **151.30%** due to reduced deposit interest income, and the core product's gross margin remained stable at **84.55%** Key Financial Indicators and Changes | Financial Indicator | Current Reporting Period (Million Yuan) | Year-on-Year Change | Main Reasons for Change | | :--- | :--- | :--- | :--- | | **Operating Revenue** | 1,134.42 | -24.15% | - | | **Selling Expenses** | 249.61 | -26.75% | - | | **Administrative Expenses** | 75.36 | -10.99% | - | | **Financial Expenses** | 20.35 | 151.30% | Decrease in deposit ratio, reduction in deposit interest income | | **Income Tax Expense** | 73.24 | -33.12% | Reduced profit leading to lower income tax | | **R&D Investment** | 97.46 | -13.59% | - | Main Product Performance | Main Product | Operating Revenue (Million Yuan) | Operating Cost (Million Yuan) | Gross Profit Margin | Year-on-Year Revenue Change | | :--- | :--- | :--- | :--- | :--- | | **Disposable Hemoperfusion Cartridge** | 965.22 | 149.12 | 84.55% | -25.25% | [Analysis of Non-Main Business](index=24&type=section&id=IV.%20Analysis%20of%20Non-Main%20Business) Non-main business activities impacted total profit, with positive contributions from fair value changes and investment income on wealth management products, offset by negative impacts from non-operating expenses (donations) and asset impairment (inventory write-downs), none of which are sustainable Non-Main Business Impact on Profit | Item | Amount (Million Yuan) | Share of Total Profit | Reason for Formation | | :--- | :--- | :--- | :--- | | **Investment Income** | 8.33 | 1.80% | Mainly from gains on disposal of wealth management products | | **Gains/Losses from Fair Value Changes** | 21.55 | 4.67% | Mainly from fair value changes of held wealth management products | | **Asset Impairment** | -6.25 | -1.35% | Mainly from provision for inventory depreciation losses | | **Non-Operating Expenses** | 19.45 | 4.21% | Mainly from donation expenses | [Analysis of Assets and Liabilities](index=25&type=section&id=V.%20Analysis%20of%20Assets%20and%20Liabilities) At the end of the reporting period, total assets were **5.267 billion Yuan**, slightly down from the beginning of the period, with a significant shift from cash to transactional financial assets due to wealth management product purchases, while accounts receivable management improved - Cash and bank balances at period-end were **748 million Yuan**, a decrease from the beginning of the period, with its proportion of total assets falling from **32.04%** to **14.19%**, primarily due to wealth management product purchases and dividend distributions[96](index=96&type=chunk) - Transactional financial assets at period-end were **1.441 billion Yuan**, a significant increase from the beginning of the period, with its proportion of total assets rising from **11.02%** to **27.36%**, mainly due to wealth management product purchases[96](index=96&type=chunk) - Accounts receivable at period-end were **25.03 million Yuan**, a substantial decrease from **53.46 million Yuan** at the beginning of the period, indicating the company's continuous efforts in accounts receivable management[96](index=96&type=chunk) [Analysis of Investment Status](index=27&type=section&id=VI.%20Analysis%20of%20Investment%20Status) During the reporting period, the company's investment activities focused on significant non-equity investments and entrusted wealth management, with **30.24 million Yuan** invested in the "Biomaterials Project" and **14.12 million Yuan** in the "Medical Device Industry (Blood Purification) Project (Phase II)," alongside **2.611 billion Yuan** in entrusted wealth management with no overdue amounts Major Self-Built Investment Projects | Project Name | Amount Invested in Current Reporting Period (Million Yuan) | Cumulative Investment Amount as of Period-End (Million Yuan) | Project Progress | | :--- | :--- | :--- | :--- | | **Biomaterials Project** | 30.24 | 238.09 | 88.00% | | **Medical Device Industry (Blood Purification) Project (Phase II)** | 14.12 | 14.48 | 5.00% | Entrusted Wealth Management | Specific Type | Amount of Entrusted Wealth Management (Billion Yuan) | Unmatured Balance (Billion Yuan) | Overdue Unrecovered Amount (Million Yuan) | | :--- | :--- | :--- | :--- | | **Bank Wealth Management Products (Own Funds)** | 2.59 | 1.41 | 0 | | **Bank Wealth Management Products (Other)** | 21.51 | 9.30 | 0 | | **Total** | **2.611** | **1.42** | **0** | [Risks and Countermeasures](index=35&type=section&id=X.%20Risks%20and%20Countermeasures) The company faces market, competition, technology, quality, policy, and centralized procurement risks, which it addresses through enhanced academic promotion, technological innovation, automation, quality control, market expansion, and product diversification - The company's revenue is highly dependent on disposable hemoperfusion cartridges, facing risks of market growth falling short of expectations or significant adverse changes[126](index=126&type=chunk) - Increased industry competition due to new entrants may impact the company's product profitability[127](index=127&type=chunk) - The medical device industry experiences rapid technological updates, and the company risks being impacted by substitute products if it fails to innovate continuously[128](index=128&type=chunk) - While the company's core hemoperfusion cartridge products are not yet included in national or provincial centralized procurement, their future inclusion could lead to product price reductions and decreased gross profit margins[132](index=132&type=chunk) [Corporate Governance, Environment and Society](index=38&type=section&id=Item%20IV.%20Corporate%20Governance%2C%20Environment%20and%20Society) [Implementation of Equity Incentive Plans, Employee Stock Ownership Plans or Other Employee Incentive Measures](index=38&type=section&id=III.%20Implementation%20of%20Equity%20Incentive%20Plans%2C%20Employee%20Stock%20Ownership%20Plans%20or%20Other%20Employee%20Incentive%20Measures) During the reporting period, the company canceled some stock options from its 2022 equity incentive plan due to unmet performance targets and employee departures, while its "Striver No. 1" and "Striver No. 2" employee stock ownership plans reached their lock-up periods, with **18.575 million Yuan** in share-based payment expenses recognized - **1,028,000** stock options from the 2022 stock option incentive plan were canceled due to unmet performance targets and the departure of some incentive recipients[141](index=141&type=chunk) - The lock-up periods for the "Striver No. 1" and "Striver No. 2" employee stock ownership plans expired on September 7, 2024, and September 17, 2024, respectively[142](index=142&type=chunk)[143](index=143&type=chunk) - During the reporting period, the company recognized **18.575 million Yuan** in share-based payment expenses related to the Striver No. 1 and Striver No. 2 employee stock ownership plans[146](index=146&type=chunk) [Social Responsibility](index=41&type=section&id=V.%20Social%20Responsibility) In the first half of 2025, the company actively fulfilled its social responsibilities by donating **19.17 million Yuan** in cash and materials for charity, rural revitalization, and social healthcare, earning multiple social responsibility awards - During the reporting period, the company donated **19.17 million Yuan** in cash and materials for charitable causes, rural revitalization, and other projects[148](index=148&type=chunk) - The company received honors such as "Zhuhai City 2024 Red Cross Outstanding Contribution Unit" and "Zhuhai Federation of Industry and Commerce Outstanding Contribution Award for Philanthropy"[148](index=148&type=chunk) [Significant Matters](index=42&type=section&id=Item%20V.%20Significant%20Matters) [Significant Contracts and Their Performance](index=44&type=section&id=XII.%20Significant%20Contracts%20and%20Their%20Performance) During the reporting period, the company provided a significant guarantee of **230 million Yuan** to its wholly-owned subsidiary, Zhuhai Jian Shu New Material Technology Co., Ltd., with an actual outstanding guarantee balance of **135 million Yuan** at period-end, representing **4.32%** of the company's net assets Significant Guarantees | Guaranteed Party | Guaranteed Amount (Million Yuan) | Actual Outstanding Guarantee Balance at Period-End (Million Yuan) | Proportion of Company's Net Assets | | :--- | :--- | :--- | :--- | | **Zhuhai Jian Shu New Material Technology Co., Ltd.** | 230 | 134.91 | 4.32% | [Share Changes and Shareholder Information](index=46&type=section&id=Item%20VI.%20Share%20Changes%20and%20Shareholder%20Information) [Share Changes](index=46&type=section&id=I.%20Share%20Changes) During the reporting period, the company's total share capital remained unchanged at **798,605,275** shares, but restricted shares increased by **881,219** due to a vice general manager's resignation, leading to a corresponding decrease in unrestricted shares - Total share capital remained unchanged at **798,605,275** shares during the reporting period[177](index=177&type=chunk) - Due to the resignation of Vice General Manager Mr. Li Dezhi, his shares were locked, increasing restricted shares from **286,138,075** to **287,019,294** shares[177](index=177&type=chunk)[178](index=178&type=chunk)[180](index=180&type=chunk) [Number of Shareholders and Shareholding Information](index=47&type=section&id=III.%20Number%20of%20Shareholders%20and%20Shareholding%20Information) As of the end of the reporting period, the company had **51,650** common shareholders, with controlling shareholder and actual controller Mr. Dong Fan holding **44.47%** of shares, and the top ten shareholders primarily comprising the controlling shareholder, related parties, public funds, and employee stock ownership plans - The total number of common shareholders at the end of the reporting period was **51,650**[183](index=183&type=chunk) Top Ten Shareholders | Shareholder Name | Shareholder Type | Shareholding Percentage | Number of Shares Held at Period-End (Shares) | | :--- | :--- | :--- | :--- | | **Dong Fan** | Domestic Natural Person | 44.47% | 355,131,867 | | **Tang Xianmin** | Domestic Natural Person | 2.67% | 21,336,425 | | **Huabao CSI Medical ETF** | Other | 2.02% | 16,159,051 | | **E Fund ChiNext ETF** | Other | 1.35% | 10,741,712 | | **Guo Xuerui** | Domestic Natural Person | 1.01% | 8,040,792 | - Among the top ten shareholders, Jiang Huanxin is the brother-in-law of Dong Fan's wife, and Huang He is Dong Fan's brother[183](index=183&type=chunk) [Bond-Related Information](index=51&type=section&id=Item%20VII.%20Bond-Related%20Information) [Convertible Corporate Bonds](index=51&type=section&id=IV.%20Convertible%20Corporate%20Bonds) The company's "Jafron Convertible Bond" (code 123117) with a total issuance of **1 billion Yuan** remains outstanding, with minimal conversion to shares as of period-end; the conversion price was adjusted from **39.43 Yuan/share** to **38.65 Yuan/share** due to the 2024 equity distribution, and the company's and bond's credit ratings remain AA with a stable outlook - The company issued **1 billion Yuan** in convertible corporate bonds, "Jafron Convertible Bond," in June 2021, with a maturity date of June 22, 2027[193](index=193&type=chunk) - As of the end of the reporting period, the cumulative converted amount was **0.1581 million Yuan**, a very low proportion of the total issuance, with **999.8 million Yuan** (or **99.98%** of the total issuance) yet to be converted[196](index=196&type=chunk) - During the reporting period, due to the implementation of the 2024 equity distribution, the conversion price was adjusted from **39.43 Yuan/share** to **38.65 Yuan/share** on May 26, 2025[199](index=199&type=chunk)[602](index=602&type=chunk) - In June 2025, China Chengxin International Credit Rating Co., Ltd. maintained the company's and the bond's credit ratings at **AA** with a stable outlook[200](index=200&type=chunk) [Financial Report](index=55&type=section&id=Item%20VIII.%20Financial%20Report) [Financial Statements](index=55&type=section&id=II.%20Financial%20Statements) This section presents the company's unaudited consolidated and parent company financial statements for the first half of 2025, including the balance sheet, income statement, cash flow statement, and statement of changes in owners' equity, reflecting the financial position, operating results, and cash flows Consolidated Balance Sheet (Period-End) | Item | Period-End Balance (Billion Yuan) | Period-Beginning Balance (Billion Yuan) | | :--- | :--- | :--- | | **Total Assets** | 5.267 | 5.383 | | **Total Liabilities** | 2.145 | 2.049 | | **Total Owners' Equity** | 3.122 | 3.335 | Consolidated Income Statement (Current Period) | Item | H1 2025 (Billion Yuan) | H1 2024 (Billion Yuan) | | :--- | :--- | :--- | | **Total Operating Revenue** | 1.134 | 1.496 | | **Operating Profit** | 481.17 | 676.98 | | **Net Profit** | 388.67 | 550.76 | | **Net Profit Attributable to Parent Company Shareholders** | 389.72 | 552.51 | Consolidated Cash Flow Statement (Current Period) | Item | H1 2025 (Million Yuan) | H1 2024 (Million Yuan) | | :--- | :--- | :--- | | **Net Cash Flow from Operating Activities** | 538.28 | 749.27 | | **Net Cash Flow from Investing Activities** | -889.99 | -1,115.35 | | **Net Cash Flow from Financing Activities** | -627.47 | -646.33 | | **Net Increase in Cash and Cash Equivalents** | -979.09 | -1,012.32 | [Notes to Consolidated Financial Statements](index=105&type=section&id=VII.%20Notes%20to%20Consolidated%20Financial%20Statements) This section details key consolidated financial statement items, including a significant decrease in period-end cash due to wealth management product purchases, a surge in transactional financial assets, a notable decline in accounts receivable, a slight decrease in inventory with increased impairment provisions, and steady progress in construction-in-progress projects - Period-end cash and bank balances were **748 million Yuan**, of which **7.719 million Yuan** were restricted funds (e.g., guarantees)[420](index=420&type=chunk) - Period-end transactional financial assets totaled **1.441 billion Yuan**, entirely comprising wealth management products[421](index=421&type=chunk) - Period-end accounts receivable book balance was **29.62 million Yuan**, a significant decrease from **58.56 million Yuan** at the beginning of the period, with a bad debt provision ratio of **15.50%**[430](index=430&type=chunk)[432](index=432&type=chunk) - Period-end inventory book value was **328 million Yuan**, with an inventory depreciation provision of **11.85 million Yuan**, an increase from **5.65 million Yuan** at the beginning of the period[489](index=489&type=chunk)[493](index=493&type=chunk) - Period-end construction-in-progress book value was **304 million Yuan**, primarily for the Biomaterials Project (**231 million Yuan**) and the Hollow Fiber Membrane Spinning Production Line Project (**56.03 million Yuan**)[544](index=544&type=chunk)

Group 1 - The core viewpoint of the news is that Jianfan Biological Technology Group Co., Ltd. has experienced a decline in both revenue and net profit in its latest quarterly report, indicating potential challenges in its financial performance [1][3] - As of August 19, 2025, Jianfan Biological's stock closed at 23.57 yuan, down 0.67%, with a trading volume of 84,200 hands and a transaction amount of 200 million yuan [1] - The company's total revenue for the first quarter of 2025 was 548 million yuan, a year-on-year decrease of 26.40%, while the net profit attributable to shareholders was 189 million yuan, down 33.71% year-on-year [1] Group 2 - Jianfan Biological has made investments in 17 companies and participated in 545 bidding projects, showcasing its active engagement in the market [2] - The company holds 95 trademark registrations and 380 patent applications, indicating a strong focus on intellectual property [2] - Additionally, Jianfan Biological possesses 305 administrative licenses, reflecting its compliance and operational capabilities [2]

Core Viewpoint - The company announced the results of the convertible bond repurchase, indicating minimal impact on its financial status and operations [1][2]. Group 1: Announcement of Convertible Bond Repurchase - The company disclosed the repurchase of its convertible bonds ("健帆转债") in accordance with relevant regulations, allowing bondholders to sell their bonds back to the company at a price of RMB 100.227 per bond during the specified period from August 8 to August 14, 2025 [1]. - Multiple announcements regarding the repurchase were made, including the initial notice and several reminders to bondholders [1]. Group 2: Results and Impact of the Repurchase - The effective number of bonds repurchased was 48, totaling a repurchase amount of RMB 4,810.89, which includes interest and tax [2]. - The repurchase will not significantly affect the company's financial condition, capital structure, operating results, or cash flow, and will not impair its debt servicing ability or ongoing operations [2]. Group 3: Subsequent Matters - Unredeemed convertible bonds will continue to be traded on the Shenzhen Stock Exchange [2].

证券代码：300529 证券简称：健帆生物 公告编号：2025-062 债券代码：123117 债券简称：健帆转债 健帆生物科技集团股份有限公司 关于健帆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的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 特别提示： 一、本次可转换公司债券回售的公告情况 健帆生物科技集团股份有限公司（以下简称"公司"）根据《深圳证券交易 所创业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 15 号—— 可转换公司债券》等法律法规的有关规定以及《健帆生物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》（以下简称"《募集说明 书》"）的相关约定，分别于 2025 年 8 月 1 日、2025 年 8 月 4 日、2025 年 8 月 5 日、2025 年 8 月 6 日、2025 年 8 月 7 日、2025 年 8 月 8 日、2025 年 8 月 11 日、2025 年 8 月 12 日、2025 年 8 月 13 日在中国证监会指定的创业板信息披 露网站巨潮资讯网（www.cninfo.com.cn）上披露了《关于健帆转债回售 ...

Market Overview - As of 13:59, the Shanghai Composite Index is at 3723.60 points, with a decline of 0.12% [1] - The total trading volume of A-shares today is 21,733.08 billion yuan [1] Moving Average Analysis - 26 A-shares have seen their 5-day moving average cross below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Yangzi New Materials: 5-day MA is 1.11% lower than the 10-day MA [1] - Ningbo Fanzheng: 5-day MA is 0.94% lower than the 10-day MA [1] - China Petroleum: 5-day MA is 0.40% lower than the 10-day MA [1] Individual Stock Performance - Yangzi New Materials (002652): Today's change is +0.52%, with a 5-day MA of 3.91 yuan and a 10-day MA of 3.95 yuan, showing a distance of -1.11% [1] - Ningbo Fanzheng (300998): Today's change is -1.59%, with a 5-day MA of 25.04 yuan and a 10-day MA of 25.28 yuan, showing a distance of -0.94% [1] - China Petroleum (601857): Today's change is -0.58%, with a 5-day MA of 8.62 yuan and a 10-day MA of 8.66 yuan, showing a distance of -0.40% [1] Additional Stock Insights - Huabei Pharmaceutical (600812): No change today, with a 5-day MA of 6.67 yuan and a 10-day MA of 6.69 yuan, showing a distance of -0.28% [1] - ST Modern (002656): No change today, with a 5-day MA of 2.27 yuan and a 10-day MA of 2.28 yuan, showing a distance of -0.26% [1] - TBEA (600089): Today's change is -0.81%, with a 5-day MA of 13.52 yuan and a 10-day MA of 13.55 yuan, showing a distance of -0.24% [1]

Group 1 - The core viewpoint of the news highlights the performance and valuation of Jianfan Biological, noting its current stock price, market capitalization, and comparison with industry averages [1][2]. - Jianfan Biological's stock closed at 23.45 yuan, with a rolling PE ratio of 25.86 times, and a total market value of 18.727 billion yuan [1]. - The average PE ratio for the medical device industry is 56.58 times, with a median of 39.97 times, positioning Jianfan Biological at the 53rd rank within the industry [1][3]. Group 2 - Jianfan Biological specializes in the research, production, and sales of biomaterials and high-tech medical devices, with key products including various blood purification devices and solutions [2]. - The company has received multiple accolades, including recognition as a key high-tech enterprise under the National Torch Program and has established several research platforms [2]. - In the latest quarterly report for Q1 2025, Jianfan Biological reported revenue of 548 million yuan, a year-on-year decrease of 26.40%, and a net profit of 189 million yuan, down 33.71%, with a gross profit margin of 80.74% [2].

Group 1 - The company issued 10 million convertible bonds with a total amount of RMB 1 billion, which can be converted into shares from December 29, 2021, to June 22, 2027 [1] - The conversion price for the bonds is set at RMB 38.65 per share, and if the stock price falls below 70% of this price (RMB 27.06) for 30 consecutive trading days, the conditional redemption clause will take effect [1] - The company announced that the convertible bonds will be suspended from conversion starting August 8, 2025, for a period of 5 trading days due to the implementation of the redemption [2] Group 2 - The suspension of conversion will last until August 14, 2025, and will resume on August 15, 2025, after the redemption application period ends [2] - The company has ensured that the information disclosed is true, accurate, and complete, with no misleading statements or significant omissions [1]

Group 1 - The core viewpoint of the news is that Jianfan Biological Technology Group Co., Ltd. has experienced a decline in its financial performance, with significant decreases in revenue and net profit in the latest quarterly report [1] - As of August 14, 2025, Jianfan Biological's stock closed at 23.15 yuan, down 2.94%, with a trading volume of 113,300 hands and a transaction amount of 266 million yuan [1] - The company's latest quarterly report shows total operating revenue of 548 million yuan, a year-on-year decrease of 26.40%, and a net profit attributable to shareholders of 189 million yuan, a year-on-year decrease of 33.71% [1] Group 2 - The company has made significant investments, with a total of 17 external investments and participation in 543 bidding projects [2] - Jianfan Biological holds 95 trademark registrations and 379 patent registrations, indicating a strong focus on intellectual property [2] - The company has obtained 305 administrative licenses, reflecting its compliance and operational capabilities in the pharmaceutical manufacturing industry [2]

Core Viewpoint - The announcement from Jianfan Bio indicates that the "Jianfan Convertible Bond" will resume conversion into shares starting from August 15, 2025, following the end of the repurchase application period [2] Company Summary - Jianfan Bio has officially communicated the resumption of share conversion for its convertible bonds, which is a significant event for bondholders [2]