证券代码：300869 证券简称：康泰医学 公告编号：2025-041 债券代码：123151 债券简称：康医转债 第四届董事会第十九次会议决议公告 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 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 第十九次会议通知于 2025 年 5 月 10 日以电话方式向各位董事发出，会议于 2025 年 5 月 20 日以现场会议方式在公司会议室召开。会议由公司董事长胡坤先生召 集并主持，应出席会议的董事 5 人，实际出席会议的董事 5 人，公司高级管理人 员列席了会议。本次会议的召集、召开及表决，符合《中华人民共和国公司法》 和《康泰医学系统（秦皇岛）股份有限公司章程》（以下简称"《公司章程》"） 的规定，会议合法有效。 二、董事会会议审议情况 1.审议通过《关于调整第四届董事会部分专门委员会委员的议案》 为保证董事会专门委员会正常有序开展工作，根据《中华人民共和国公司法》 以及《公司章程》等规定，公司董事会同意调整第四届董事会部分专门委员会委 员：胡坤先生不再担任董事会审计委 ...

证券代码：300869 证券简称：康泰医学 公告编号：2025-039 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 2024 年年度股东大会决议公告 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。 特别提示： 1. 本次股东大会未出现否决议案的情形。 2. 本次股东大会没有新提案提交表决的情况,不涉及变更以往股东大会已 通过的决议。 一、会议召开和出席情况 （一）会议召开的情况 1、会议召开时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025 年 5 月 20 日上午 9:15-9:25，9:30-11:30，下午 13:00-15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025 年 5 月 20 日 上午 9:15 至下午 15:00。 2、现场会议召开地点：康泰医学系统（秦皇岛）股份有限公司会议室 3、会议召开方式：本次股东大会采取现场表决与网络投票相结合的方式召 开。 4、会议召集人：公司董事会 5、会议主持人：董事长胡坤先生 6、本次股东大会召开符合有关法律、行政法规、部门规章、规 ...

Group 1: Market Overview and Competitive Landscape - The medical device industry is experiencing increasing competition due to more entrants and stricter regulations globally, necessitating higher investment in innovation and compliance [2][3] - The global market is driven by factors such as aging population, rising chronic disease rates, and growing home healthcare demand, which are expected to expand market size [2][3] - The company aims to leverage opportunities by enhancing product systems, improving smart manufacturing capabilities, and deepening global channel layouts [2][3] Group 2: Company Performance and Strategy - The company has developed a comprehensive product system and possesses core technologies across various product categories, achieving industry-leading technical performance in some areas [3][4] - The company has a complete industrial chain from mold injection to product assembly, enabling rapid order response and large-scale production capabilities [3][4] - The company has maintained a high level of R&D investment, focusing on mid-to-high-end products and medical device blue ocean products to meet evolving market demands [6][8] Group 3: Financial Performance and Future Growth Drivers - Key drivers for future growth include a large consumer base, expanding market space, and the gradual realization of new infrastructure procurement orders [5][6] - The company is positioned to benefit from policy incentives in the medical device sector, which are expected to accelerate R&D innovation and capture more international market share [5][6] - Emerging economies such as Southeast Asia, South Africa, India, and Latin America present significant opportunities for domestic medical device companies due to their rapid economic growth and high demand for cost-effective medical devices [5][6] Group 4: Challenges and Responses - The company is addressing revenue declines and negative net profits by maintaining high R&D investment and enhancing product quality and production capacity [6][7] - The company has implemented measures to manage the impact of international trade dynamics, including maintaining product safety stock in the U.S. and expanding market efforts domestically and in other regions [7][8] - The company is focused on developing new product lines to replace revenue gaps from declining sales of core products, such as blood oxygen monitors [6][7]

中信建投证券股份有限公司关于 | 事项 | 存在的问题 | | 采取的措施 | | --- | --- | --- | --- | | 1.信息披露 | 2024 年度无相关问题 | | 不适用 | | 2.公司内部制度的建立和执行 | 年度无相关问题 2024 | | 不适用 | | 3.股东会、董事会运作 | 2024 年度无相关问题 | | 不适用 | | 4.控股股东及实际控制人变动 | 年度无相关问题 2024 | | 不适用 | | 5.募集资金存放及使用 | 截至 2024 年 月 31 日， | 12 | 公司已经根据项目实际 | | | 公司向不特定对象发行可 | | 建设情况对投资金额进 | | | 转换公司债券募集资金投 | | 度进行调整，并在《康 | | | 资项目"康泰产业园建设 | | 泰医学系统（秦皇岛） | | | 项目"（开发区）与"康泰 | | 股份有限公司关于 2024 | | | 医学医疗器械产业园项 | | 年度募集资金存放与使 | 2 | | 目"（北戴河）存在实际投 | 用情况的专项报告》和 | | --- | --- | --- | | | 资金额进度较项目计 ...

一、保荐人及保荐代表人承诺 （一）保荐总结报告书和证明文件及其相关资料的内容不存在虚假记载、误 导性陈述或重大遗漏，保荐人及保荐代表人对其真实性、准确性、完整性承担法 律责任。 （二）本机构及本人自愿接受中国证监会对保荐总结报告书相关事项进行的 任何质询和调查。 中信建投证券股份有限公司 关于康泰医学系统（秦皇岛）股份有限公司 向不特定对象发行可转换公司债券之保荐总结报告书 经中国证券监督管理委员会《关于同意康泰医学系统（秦皇岛）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〔2022〕960 号） 同意，康泰医学系统（秦皇岛）股份有限公司（以下简称"康泰医学""发行人" 或"公司"）向不特定对象发行 7,000,000 张可转换公司债券（以下简称"可转债"）， 每张面值为 100 元。公司本次向不特定对象发行的可转债于 2022 年 7 月 20 日上 市，中信建投证券股份有限公司（以下简称"中信建投证券"或"保荐人"）担 任本次发行的保荐人，履行持续督导期至 2024 年 12 月 31 日。截至 2024 年 12 月 31 日，持续督导期限已满，中信建投证券根据《证券发行上市保荐业 ...

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。 康泰医学系统(秦皇岛)股份有限公司（以下简称"公司"）2024 年年度报告 全文及其摘要已于 2025 年 4 月 29 日刊登于创业板信息披露媒体（巨潮资讯网 www.cninfo.com.cn）。为使投资者进一步了解公司的财务状况、经营情况及公司 发展规划，公司将于 2025 年 5 月 16 日(星期五)15:30-16:30 在全景网举行 2024 年度业绩说明会。本次说明会将采用网络远程方式举行，投资者可登陆全景网 "投资者关系互动平台"（h ttp :// ir .p 5w.n et）参与本次业绩说明会。 证券代码：300869 证券简称：康泰医学 公告编号：2025-038 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 关于举行 2024 年度业绩说明会的公告 特此公告。 康泰医学系统(秦皇岛)股份有限公司董事会 2025 年 5 月 13 日 出席本次业绩说明会的人员有：董事长胡坤先生，董事、总经理杨志山先 生，董事、董事会秘书、财务总监郑敏女士，独立董事李华女士 ...

Core Viewpoint - The company, Kangtai Medical, has reported a significant decline in performance, transitioning from profit to a net loss of 77.9026 million yuan in 2024, primarily due to weakened downstream market demand and intense competition [1][2]. Financial Performance - In 2024, Kangtai Medical achieved an operating revenue of 480 million yuan, representing a year-on-year decrease of 35.76% [2]. - The company has experienced a continuous decline in net profit for four consecutive years since 2021 [1]. Shareholder Actions - The actual controller of Kangtai Medical, Hu Kun, announced a plan to reduce his shareholding by up to 12 million shares, which is approximately 2.9865% of the total share capital, due to personal financial needs [1][2]. Business Operations - Kangtai Medical specializes in the research, production, and sales of medical diagnostic and monitoring equipment, with a product range that includes blood oxygen, electrocardiogram, ultrasound, monitoring, blood pressure, and analytical testing devices [2]. - The company has developed three main product systems: hospital-based, home-based, and others, serving various healthcare settings [2]. Challenges Faced - The company cited several challenges impacting its business, including increased competition in the global medical device market, stricter regulatory requirements, and reduced procurement budgets from governments and medical institutions [2][3]. - The decline in sales volume and prices of major products has led to a significant drop in main business income [3]. Inventory and R&D Expenses - Kangtai Medical reported a high balance of raw materials and semi-finished goods due to previous market conditions, leading to a slowdown in inventory turnover and a need to recognize a substantial inventory impairment provision of 109 million yuan [3]. - The company maintained a high level of R&D investment, with expenses amounting to 105 million yuan in 2024, which has also impacted net profit in the short term [3].

Group 1 - The core viewpoint of the articles highlights the performance and recognition of Kangtai Medical, showcasing its growth in revenue and profit, as well as its recent awards for product design [1][2] Group 2 - As of May 12, Kangtai Medical's stock closed at 13.87 yuan, with a 2.14% increase, a price-to-book ratio of 3.02, and a total market capitalization of 5.573 billion yuan [1] - By the first quarter of 2025, three institutions held shares in Kangtai Medical, including two funds and one other entity, with a total holding of 3.3463 million shares valued at 0.046 billion yuan [1] - The company specializes in the research, production, and sales of medical diagnostic and monitoring equipment, covering various categories such as blood oxygen, electrocardiogram, ultrasound, monitoring, and blood pressure [1] - In April 2023, Kangtai Medical's Remoltar remote professional color Doppler ultrasound diagnostic system won the German IF Design Award and the Italian A Design Award [1] - In October 2023, the company's children's infrared thermometer won the silver award for design innovation at the 2023 Canton Fair, while its respiratory trainer and dynamic electrocardiogram monitor won bronze awards [1] - The latest performance report for the first quarter of 2025 shows that the company achieved operating revenue of 112 million yuan, a year-on-year increase of 12.77%, and a net profit of 16.4358 million yuan, a year-on-year increase of 277.67%, with a gross profit margin of 58.15% [1] Group 3 - Kangtai Medical's PE (TTM) is -84.67, and its PE (static) is -71.54, with a price-to-book ratio of 3.02, compared to the industry average PE of 49.84 and a price-to-book ratio of 4.61 [2] - The industry median PE is 36.59, with a price-to-book ratio of 2.43, indicating that Kangtai Medical's valuation metrics are significantly lower than the industry averages [2]

Core Viewpoint - The stock price of Kangtai Medical has plummeted significantly since its IPO, leading to a drastic reduction in market capitalization and shareholder value, prompting the major shareholder to initiate a share reduction plan [1][2][8]. Group 1: Stock Performance and Market Capitalization - Kangtai Medical's market capitalization has dropped from over 120 billion yuan to approximately 5.46 billion yuan, representing a decline of 95.58%, which equates to a loss of about 117 billion yuan [2][7]. - The stock price reached a peak of 307.03 yuan per share at the time of listing but has since fallen to a historical low of 13.97 yuan per share [2][7]. Group 2: Financial Performance - Since 2021, Kangtai Medical has experienced a continuous decline in net profit for four consecutive years, with a reported loss of 77.9 million yuan in 2024 [3][9]. - The company's revenue has also decreased, with 2021 revenue at 909 million yuan, down 35.15% year-on-year, and subsequent years showing further declines [10][11]. - Despite the financial downturn, the company has maintained high dividend payouts, totaling approximately 392 million yuan from 2020 to 2023, with the major shareholder receiving around 230 million yuan [4][12][13]. Group 3: Shareholder Actions - On May 8, 2024, the controlling shareholder, Hu Kun, announced plans to reduce his holdings by up to 12 million shares, which could yield approximately 168 million yuan [6][7]. - This marks Hu Kun's first instance of cashing out since the company's IPO, amidst a trend of frequent share reductions by executives and shareholders since 2021 [8]. Group 4: Product Quality and Legal Issues - In 2024, Kangtai Medical faced scrutiny over product quality, with several products failing to meet standards, resulting in a fine of 30,000 yuan [16][17]. - The company was also involved in a patent infringement lawsuit with Beijing Chao Si Electronic Technology, which was settled in December 2024 for 1 million USD [19][20][21].

中信建投证券股份有限公司关于康泰医学系统（秦皇岛） 股份有限公司 2024 年年度定期现场检查报告 | 保荐人名称：中信建投证券股份有限公司 被保荐公司简称：康泰医学 | | | --- | --- | | 保荐代表人姓名：孙泉 联系电话：021-68801584 | | | 保荐代表人姓名：刘乡镇 联系电话：021-68801584 | | | 现场检查人员姓名：孙泉 | | | 现场检查对应期间：2024 年 1 月 1 日至 2024 年 12 月 31 日 | | | 现场检查时间：2025 年 月 日 4 22 | | | 一、现场检查事项 现场检查意见 | | | 不 | | | （一）公司治理 否 适 | 是 | | 用 | | | 现场检查手段： | | | （1）查阅公司章程及各项规章制度；（2）查阅股东大会、董事会会议文件，包括会议通 | | | 知、签到表、会议记录、会议决议等；（3）实地查看公司主要生产经营场所，了解公司治 | | | 理及独立性情况；（4）查阅公司股东名册；（5）查阅公司信息披露文件。 | | | 1.公司章程和公司治理制度是否完备、合规 | √ | | 2.公司章程 ...