近日，公司已经完成注册，并取得贸易许可证，现将有关情况公告如下： 被许可人： CONTEC GLOBAL INVESTMENT FZCO 证券代码：300869 证券简称：康泰医学 公告编号：2025-080 债券代码：123151 债券简称：康医转债 康泰医学系统（秦皇岛）股份有限公司 关于迪拜子公司成立的进展公告 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。 2025 年 7 月 14 日，康泰医学系统（秦皇岛）股份有限公司（以下简称"公 司"） 第四届董事会第二十次会议，审议通过了《关于投资设立子公司的议案》 （详见巨潮资讯网《关于投资设立子公司的公告》，公告编号：2025-054）。 签发日期：2025 年 11 月 24 日 特此公告。 康泰医学系统（秦皇岛）股份有限公司董事会 2025 年 11 月 25 日 许可证编号：07143 性质：私营自由区有限责任公司 地址：迪拜机场自由区 3W 520 公司经理：朱庆超 营业范围：科学及实验室设备贸易、医疗外科设备及器械贸易、兽医设备及 器械贸易、商业企业投资及管理、工业企业投资及管理、自有资金投资活 ...

证券代码：300869 证券简称：康泰医学 公告编号：2025-079 债券代码：123151 债券简称：康医转债 康泰医学系统（秦皇岛）股份有限公司 关于持股 5%以上股东、部分董事及高级管理人员 | | 有限售条件股份 | 1,385,233 | 0.3448% | 1,385,233 | 0.3448% | | --- | --- | --- | --- | --- | --- | | 许云龙 | 合计持有股份 | 891,452 | 0.2219% | 671,452 | 0.1671% | | | 其中：无限售条件股份 | 222,863 | 0.0555% | 2,863 | 0.0007% | | | 有限售条件股份 | 668,589 | 0.1664% | 668,589 | 0.1664% | | 刘振红 | 合计持有股份 | 634,276 | 0.1579% | 477,276 | 0.1188% | | | 其中：无限售条件股份 | 158,569 | 0.0395% | 1,569 | 0.0004% | | | 有限售条件股份 | 475,707 | 0.1184% | 475, ...

Summary of Key Points from Conference Call Records Industry Overview - The conference call discusses the **innovative drug industry** in China, focusing on the **2026 outlook** and the ongoing **internationalization** of Chinese pharmaceutical companies [1][3][5][8]. Core Insights and Arguments - **Healthcare Negotiations**: Ongoing negotiations in healthcare are emphasizing tumor drugs, with innovative drugs receiving support but at potentially lower price reductions. The average price reduction for drugs is stabilizing around **60%** [2][4]. - **Commercial Insurance Directory**: The establishment of a commercial insurance directory for innovative drugs provides a second payment pathway for high-value drugs, benefiting CAR-T and ADC therapies [1][2]. - **Internationalization Phase 2.0**: Chinese pharmaceutical companies are entering the **2.0 phase** of internationalization, with a **60%** year-on-year increase in business development transactions, totaling **$88.26 billion** [3][5]. - **Focus on Innovative Technologies**: Key areas of focus include **ADC**, **I/O (immunotherapy)**, and **small nucleic acids**. Notable products and data releases are anticipated in these fields [1][6][7]. - **GLP-1 Market Potential**: The GLP-1 market is expected to grow significantly, with major companies like Eli Lilly, Roche, and AstraZeneca set to release critical clinical data in cardiovascular, diabetes, and obesity sectors [1][7]. Additional Important Content - **Collective Procurement Policies**: The latest round of collective procurement has introduced new focus areas such as maintaining clinical stability and ensuring quality, with price reductions stabilizing [4]. - **CRO Industry Recovery**: The CRO industry is experiencing a recovery, with significant growth in biopharmaceutical investments, particularly in the CDMO sector, which is benefiting from strong commercial demand [9][10]. - **Upstream Supply Chain and Equipment**: The domestic upstream supply chain and pharmaceutical equipment sectors are seeing improvements in profitability due to increased localization and technological upgrades [13]. - **Research Reagents Market**: The demand for research reagents is strong, driven by increased funding for research, with domestic brands improving in quality and responsiveness [14]. - **Impact of Global Expansion**: Local companies are leveraging global expansion strategies to alleviate domestic price pressures and enhance their competitive positioning in the international market [15]. This summary encapsulates the key points discussed in the conference call, providing insights into the current state and future outlook of the innovative drug industry in China.

（文章来源：证券日报） 证券日报网讯 11月19日晚间，康泰医学发布公告称，公司全资子公司长沙康泰医芯生物科技有限责任 公司基于战略规划和经营发展的需要，以自有资金设立全资子公司长沙卓联医芯科技有限公司。本次设 立全资孙公司事项无需提交董事会及股东会审议。近日，卓联医芯完成了工商注册登记手续，并取得了 《营业执照》。 ...

Core Viewpoint - The establishment of a wholly-owned subsidiary by the company is aimed at strategic planning and operational development, enhancing competitive capabilities and expanding growth opportunities [1] Group 1 - The wholly-owned subsidiary, Changsha Zhuolian Yixin Technology Co., Ltd., has completed its business registration and obtained a business license [1] - The registered capital of Zhuolian Yixin is 1 million yuan, and it was established on November 17, 2025 [1] - The legal representative of the new subsidiary is Kou Guozhi [1]

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、对外投资概述 证券代码：300869 证券简称：康泰医学 公告编号：2025-078 债券代码：123151 债券简称：康医转债 康泰医学系统（秦皇岛）股份有限公司 关于投资设立全资孙公司并完成工商注册登记的公告 成立日期：2025 年 11 月 17 日 康泰医学系统（秦皇岛）股份有限公司（以下简称"公司"）全资子公司长沙 康泰医芯生物科技有限责任公司（以下简称"康泰医芯"）基于战略规划和经营发 展的需要，以自有资金设立全资子公司长沙卓联医芯科技有限公司（以下简称"卓 联医芯"）。 根据《深圳证券交易所创业板股票上市规则》和《公司章程》等相关规定，本 次设立全资孙公司事项无需提交董事会及股东会审议。 公司本次对外投资设立全资孙公司事项不构成关联交易，亦不构成《上市公司 重大资产重组管理办法》规定的重大资产重组。 二、孙公司的基本情况 近日，卓联医芯完成了工商注册登记手续，并取得了《营业执照》，基本信息 登记如下： 企业名称：长沙卓联医芯科技有限公司 统一社会信用代码：91430104MAK211X387 类 ...

Core Insights - The seventh Guangdong-Hong Kong-Macao Greater Bay Area Biopharmaceutical Innovation Conference was held in Guangzhou, focusing on the development paths of innovative drugs and the role of AI in drug research and development [1][2] - Industry experts emphasized the need for Chinese pharmaceutical companies to shift from "follower" to "leader" by addressing unmet medical needs and leveraging innovative technologies [1][2] Group 1: Conference Highlights - The conference theme was "Bay Area Innovation, Navigating New Journeys," discussing key topics such as dual circulation development, accelerated technology transfer, and compliance in global expansion [1] - Notable speakers included industry leaders and experts, highlighting the importance of innovation and internationalization as core drivers for Chinese pharmaceutical companies [2] Group 2: Regulatory and Industry Perspectives - The Director of the Guangdong Provincial Drug Administration stressed the importance of drug quality and safety, urging companies to strengthen regulatory compliance and communication with authorities to avoid approval delays [1] - The conference aimed to inject new vitality into the biopharmaceutical industry in the Greater Bay Area and across China, promoting high-quality development and attracting talent and projects [1]

Core Insights - The portable spirometer market in China is projected to reach 444 million yuan in 2024, reflecting a year-on-year increase of 9% driven by policy support and rising demand [1][7]. Industry Overview - Portable spirometers are essential medical devices for lung function testing, first introduced by Breath Home in 2014, and have received certifications from NMPA, FDA, and CE [3]. - These devices are compact, easy to carry, and suitable for various settings, including community health service centers and home monitoring, facilitating early detection of chronic respiratory diseases [3][4]. Market Dynamics - The aging population in China is increasing, with the elderly population expected to reach 219.69 million by the end of 2024, contributing to a higher prevalence of chronic respiratory diseases and a growing demand for lung function tests [4]. - The number of medical institutions in China is projected to reach 1,093,600 by 2024, a year-on-year increase of 2.13%, indicating a growing market for portable spirometers [5]. Competitive Landscape - The market has historically been dominated by international brands like Jaeger and R spirometry, but domestic companies such as Mindray, Yuyue Medical, and Kangtai Medical are gaining market share through innovation and expansion [9]. - Mindray reported a revenue of 25.834 billion yuan in the first three quarters of 2025, a decrease of 12.38% year-on-year, while Kangtai Medical achieved a revenue of 344 million yuan in the first half of 2025, an increase of 3.03% year-on-year [10][11]. Development Trends - The industry is expected to see continuous technological innovation and product upgrades, with the integration of IoT, big data, and AI enhancing the precision and intelligence of portable spirometers [11]. - Competition is intensifying as both domestic and international brands increase R&D investments and market efforts, leading to potential mergers and acquisitions within the industry [12]. - The pace of domestic substitution is accelerating, with local manufacturers poised to replace imported products as they enhance their technological capabilities and market presence [13].

Group 1 - The core viewpoint of the news is that the Chongqing government has implemented strong policies to support the high-quality development of the innovative drug industry, aiming to accelerate the approval and commercialization of new drugs by 2027 [1] - The policy includes measures such as R&D subsidies, clinical acceleration, industrial clusters, and international cooperation, covering the entire chain from drug development to market entry [1] - The goal is to approve 1 to 3 innovative drugs annually, reach a total of 10 innovative drugs, cultivate 3 industrial innovation complexes, and establish 3 high-level innovation platforms by 2027 [1] Group 2 - In terms of product layout, the Heng Seng Innovative Drug ETF (520500) has seen continuous net inflows for six consecutive trading days, indicating strong investor interest [2] - As of November 6, 2025, the Heng Seng Innovative Drug ETF has a total scale of 1.872 billion yuan and an average daily trading volume of 1.197 billion yuan over the past five trading days [2] - The ETF tracks companies in the Hong Kong market related to innovative drug research, development, and production, focusing on firms with strong R&D capabilities [2] Group 3 - The innovative drug industry is experiencing positive trends in internationalization and R&D pipeline advancement, which may further enhance the industry's fundamentals [2] - According to Dongwu Securities, the innovative drug sector is expected to remain a key investment theme in 2026 due to its growing international status and market potential [2]

Core Insights - The establishment of the Overseas Returnee Town in Guangzhou's Huangpu District has attracted around 30 well-known innovative enterprises and projects, creating a vibrant entrepreneurial ecosystem for returnees [3][5][11] - The region has developed a complete biopharmaceutical industry chain, facilitating research, transformation, and production, which supports companies at various stages of development [3][5][11] - The "1+N" multi-core model of the town promotes regional collaboration and has become a hub for returnee talent to start their businesses [4][5] Industry Development - The core area of the Overseas Returnee Town spans 3.8 square kilometers, with an additional 4.2 square kilometers for future expansion, forming a comprehensive biopharmaceutical innovation ecosystem [5] - Leading companies such as BeiGene, CanSino Biologics, and Innovent Biologics have established a presence in the town, contributing cutting-edge ideas and technologies while attracting more overseas talent [5][6] - The dual-center support system, including the Phoenix Valley Returnee Center and the International Biopharmaceutical Innovation Center, provides comprehensive services for the ecosystem [5][6] Talent and Investment - The returnee town is strategically aligned with the industrial upgrade of Guangzhou, which has recognized the potential of the biopharmaceutical sector since the late 1990s [7][8] - The government has implemented innovative models combining physical space provision, talent attraction, and market-oriented management, with a guiding fund of 2 billion yuan aimed at attracting social capital [8] - Approximately 76.11 billion yuan has been invested in 274 enterprises, with 18.54 billion yuan specifically directed towards returnee startups [11] Innovation and Collaboration - The Guangzhou National Laboratory on the Biopharmaceutical Island has successfully attracted high-level researchers from abroad, facilitating the transformation of research outcomes into industry applications [9] - The region is focusing on international collaborations, leveraging its advantages in scientific research to establish a leading position in biopharmaceutical innovation [8][9] - The integration of various resources has created a robust innovation network, with around 4,800 biopharmaceutical companies thriving in the area [11]