Core Viewpoint - The stock of Kaili Medical has shown fluctuations in price and trading volume, with a current market capitalization of 14.526 billion yuan, reflecting a year-to-date increase of 14.61% [1] Financial Performance - For the first half of 2025, Kaili Medical reported a revenue of 964 million yuan, a year-on-year decrease of 4.78%, and a net profit attributable to shareholders of 47.03 million yuan, down 72.43% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 381 million yuan, with 258 million yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 1.46% to 14,300, while the average circulating shares per person increased by 1.48% to 30,244 shares [2] - Major shareholders include Hua Bao Zhong Zheng Medical ETF, which increased its holdings by 134,200 shares, and Guangfa Healthcare Stock A, which increased its holdings by 836,200 shares [3] Stock Performance - As of October 24, the stock price of Kaili Medical was 33.57 yuan per share, with a trading volume of 19.4548 million yuan and a turnover rate of 0.14% [1] - The stock has experienced a 1.57% increase over the last five trading days, a 3.20% decrease over the last 20 days, and a 5.43% increase over the last 60 days [1] Business Overview - Kaili Medical, established on September 27, 2002, specializes in the research, development, production, and sales of medical diagnostic and treatment equipment, with main revenue sources being color Doppler ultrasound (58.07%) and endoscopes (40.90%) [1] - The company is categorized under the pharmaceutical and biological industry, specifically in medical devices [1]

Core Viewpoint - The highest level of medical intelligence should be L4, which emphasizes human-machine collaboration rather than a fully automated system, as expressed by Zhou Guoyi, Chief Scientist of KAILI Medical [1]. Group 1: AI in Healthcare - AI is rapidly transforming the healthcare industry, with advancements in disease screening, clinical diagnosis, risk assessment, and treatment decision-making [1]. - The global medical AI market is projected to exceed $100 billion by 2030, with medical imaging AI being one of the fastest-growing segments [1]. - KAILI Medical has been a pioneer in the systematic layout of ultrasound AI since 2016, adopting a "device + AI" strategy that integrates AI deeply into medical devices [2]. Group 2: Advantages of KAILI Medical's Approach - The "device + AI" strategy offers three core advantages: landing advantage, integration advantage, and performance advantage, allowing for optimal results with limited investment [2]. - KAILI Medical's approach ensures that AI assists doctors in intelligent device operation, completing comprehensive tasks rather than focusing on isolated steps [2][5]. - The company emphasizes the importance of high-quality data for the successful application of AI in clinical settings, which requires collaboration between medical professionals and engineers [8][9]. Group 3: Challenges and Solutions - Early challenges included the immaturity of deep learning frameworks and issues with reliability and scalability, which KAILI Medical overcame by developing its own framework and gradually enhancing hardware capabilities [4]. - The company faced concerns about the direction of its AI projects, but recognized the potential to transform traditional human-machine interaction in medical procedures [5]. - A significant challenge in developing specialized AI models is obtaining high-quality, well-distributed data, which is essential for effective algorithm performance [8]. Group 4: Future Directions - The future evolution of ultrasound AI will involve integrating multi-modal characteristics of ultrasound with AI multi-modal fusion technology to enhance diagnostic accuracy [10]. - KAILI Medical envisions a future where instruments, AI, and humans work seamlessly together, providing real-time diagnostic assistance to doctors [11]. - The relationship between AI and doctors is seen as a long-term collaboration, where AI serves as an assistant rather than a replacement, maintaining the human element in medical decision-making [10].

Core Viewpoint - The highest level of medical intelligence is considered to be L4, which emphasizes "human-machine collaboration" rather than a fully automated medical environment [1][20]. Industry Insights - The global medical AI market is projected to exceed $100 billion by 2030, with medical imaging AI being one of the fastest-growing segments [2]. - The company has been a pioneer in systematically laying out ultrasound AI since 2016, adopting a "device + AI" strategy that integrates AI deeply into medical devices [3][4]. Technological Development - The company focuses on three core advantages of its "device + AI" approach: implementation advantage, integration advantage, and performance advantage [4]. - The "Fengyan S-Fetus" technology, which integrates ultrasound technology with AI, has achieved significant milestones, including obtaining the first domestic prenatal ultrasound AI medical device certification [4][11]. Data and Model Training - High-quality, well-distributed data is crucial for the effective application of AI in clinical settings [5][15][16]. - The company collaborates with various medical institutions to build a clinical data cooperation system, ensuring compliance with ethical standards and data privacy [16]. Future Directions - The company aims to achieve a "fully intelligent machine" concept, where AI drives the entire clinical process, covering major application areas such as gynecology, obstetrics, cardiology, and more [21]. - The integration of visual models with large language models is being explored to enhance diagnostic capabilities [17]. Regulatory and Policy Considerations - The registration process for AI products is more stringent than for traditional medical devices, emphasizing the need for rigorous clinical trials and data integrity [12][11]. - There is a call for improved regulatory frameworks to support the integration of AI in healthcare, ensuring that AI can be effectively utilized while maintaining human oversight [22][23].

Summary of the Incentive Plan Announcement Core Viewpoint The announcement details the implementation of the 2025 Restricted Stock and Stock Option Incentive Plan by Shenzhen Kaili Biomedical Technology Co., Ltd., which includes the granting of restricted stocks and stock options to 405 incentive objects, aimed at motivating key personnel and enhancing company performance. Group 1: Incentive Plan Overview - The company has approved the granting of 1.914 million shares of restricted stock and 3.9678 million stock options to 405 incentive objects, including directors, senior management, and key technical personnel [1][21]. - The grant date for the restricted stock and stock options is set for October 16, 2025, with a grant price of 15.93 yuan per share for restricted stock and an exercise price of 31.86 yuan per option [2][17]. Group 2: Performance Assessment Requirements - The performance assessment for the incentive plan will be conducted annually from 2025 to 2028, with specific targets set for each fiscal year [5][6]. - If the company fails to meet the performance targets in any given year, the corresponding restricted stocks and stock options for that year will not vest or be exercisable, and will be forfeited [6][10]. Group 3: Decision-Making Process - The plan underwent a thorough decision-making process, including multiple board meetings and approvals from the remuneration and assessment committee, ensuring compliance with relevant laws and regulations [11][13][22]. - The company conducted a self-examination regarding insider trading by participants in the incentive plan, confirming no violations occurred in the six months prior to the grant date [24]. Group 4: Financial Implications - The funds raised through this incentive plan will be used to supplement the company's working capital [25]. - The company anticipates that the costs associated with the incentive plan will have a minor impact on net profits, while the potential positive effects on performance and management motivation are expected to outweigh these costs [30].

Core Points - The company announced the convening of the 10th meeting of the 4th Board of Directors and the 10th meeting of the 4th Supervisory Board on October 16, 2025 [2] - The meetings approved the adjustment of the list of incentive objects for the 2025 restricted stock and stock option incentive plan [2] - The company will grant 1.914 million shares of the second category of restricted stock to 99 incentive objects and 3.9678 million stock options to 306 incentive objects [2]

Core Points - The company announced an adjustment to its 2025 restricted stock and stock option incentive plan due to one participant voluntarily giving up their participation [2] - The number of participants in the incentive plan has been reduced from 406 to 405, while the total amount of equity granted remains unchanged [2] - The adjustment was made under the authorization of the company's first extraordinary general meeting of 2025 [2]

Group 1 - The company, Kaili Medical, held its 11th meeting of the 4th board of directors on October 16, 2025, in Shenzhen, where it reviewed proposals related to the grant of restricted stocks and stock options under the 2025 incentive plan [1] - The meeting took place at the Kaili Medical Building located at No. 368, Optoelectronic North Road, Guangming District, Shenzhen [1]

本次会议应出席董事 7 人，实际出席董事 7 人，会议由董事长陈志强先生主 持，符合《公司章程》规定的法定人数，会议的召集、召开符合《公司法》和《公 司章程》的有关规定。 证券代码：300633 证券简称：开立医疗 公告编号：2025-041 深圳开立生物医疗科技股份有限公司 第四届董事会第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 2025 年 10 月 16 日，深圳开立生物医疗科技股份有限公司（以下简称"公 司"）第四届董事会第十一次会议以现场和通讯表决相结合的方式在深圳市光明 区光电北路 368 号开立医疗大厦一楼会议室召开。本次会议已于 2025 年 10 月 13 日以电话、电子邮件等方式通知全体董事。 二、董事会会议审议情况 经与会董事投票表决，审议通过了如下决议： 1、审议通过《关于调整 2025 年限制性股票与股票期权激励计划激励对象 名单相关事项的议案》 公司《2025 年限制性股票与股票期权激励计划（草案）》（以下简称"《激励 计划》"或"本次激励计划"）所确定的 406 名激励对象中，1 ...

证券代码：300633 证券简称：开立医疗 公告编号：2025-042 深圳开立生物医疗科技股份有限公司 第四届监事会第十次会议决议公告 本公司及监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、监事会会议召开情况 2025 年 10 月 16 日，深圳开立生物医疗科技股份限公司（以下简称"公司"） 第四届监事会第十次会议在深圳市光明区光电北路 368 号开立医疗大厦一楼会 议室召开。本次会议由监事会主席陈欣主持。应出席监事 3 名，实际出席监事 3 名。符合《公司章程》规定的法定人数，本次监事会会议决议合法有效。 二、监事会会议审议情况 经与会监事审议表决，一致通过了如下决议： 2、审议通过《关于向 2025 年限制性股票与股票期权激励计划激励对象授 予限制性股票与股票期权的议案》 监事会对本次激励计划确定的授予激励对象是否符合授予条件进行核实后， 监事会认为： 1、本次激励计划授予的激励对象均为公司 2025 年第一次临时股东大会审议 通过的公司《激励计划》中确定的激励对象中的人员。 2、不存在《管理办法》第八条所述不得成为激励对象的下列情形： （1）最近 12 ...

证券代码：300633 证券简称：开立医疗 公告编号：2025-043 深圳开立生物医疗科技股份有限公司 关于调整 2025 年限制性股票与股票期权激励计划激励对象名单 相关事项的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳开立生物医疗科技股份有限公司（以下简称"公司"）于 2025 年 10 月 16 日召开第四届董事会第十一次会议、第四届监事会第十次会议，审议通过 了《关于调整 2025 年限制性股票与股票期权激励计划激励对象名单相关事项的 议案》，现将有关事项说明如下： 一、已履行的相关审批程序 （三）公司于 2025 年 9 月 6 日至 2025 年 9 月 15 日在公司内部公示了本次 激励计划激励对象的姓名和职务。在公示的期限内，未收到任何组织或个人提 出异议或不良反映。公司于 2025 年 9 月 16 日披露了《董事会薪酬与考核委员 会关于公司 2025 年限制性股票与股票期权激励计划激励对象名单的核查意见及 公示情况说明》。 （四）公司对本次激励计划内幕信息知情人及激励对象在激励计划（草案） 公开披露前 6 个月内，即 202 ...