Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Kefu Medical (301087), indicating a slight decline in stock price and mixed capital flow on January 22, 2026 [1] - Kefu Medical reported a main revenue of 2.398 billion yuan for the first three quarters of 2025, reflecting a year-on-year increase of 6.63%, with a net profit attributable to shareholders of 260 million yuan, up 3.3% year-on-year [2] - In Q3 2025, the company achieved a single-quarter revenue of 902 million yuan, representing a significant year-on-year increase of 30.72%, and a net profit of approximately 92.83 million yuan, up 38.68% year-on-year [2] Group 2 - The company has a debt ratio of 27.37% and reported investment income of 18.18 million yuan, with financial expenses recorded at -3.77 million yuan, indicating a healthy financial position [2] - The gross profit margin for Kefu Medical stands at 53.35%, showcasing strong profitability within its industry [2] - Over the past 90 days, 8 institutions have provided ratings for the stock, with 7 buy ratings and 1 hold rating, and the average target price set by institutions is 54.56 yuan [2]

Company Overview - Kewei Medical Technology Co., Ltd. is located in Changsha, Hunan Province, and was established on November 19, 2009. The company went public on October 25, 2021. Its main business involves the research, production, sales, and service of home medical devices [1]. Business Segmentation - The revenue composition of Kewei Medical is as follows: rehabilitation aids account for 43.12%, medical care products 32.45%, health monitoring products 20.76%, and other supplementary products 3.68% [1]. Stock Performance - On January 20, Kewei Medical's stock fell by 5.02%, trading at 54.83 yuan per share, with a transaction volume of 225 million yuan and a turnover rate of 2.07%. The total market capitalization is 11.454 billion yuan [1]. Fund Holdings - According to data from the top ten holdings of funds, one fund under Xingyin Fund holds Kewei Medical shares. The Xingyin Smart Consumer Mixed A Fund (018990) held 83,800 shares in the third quarter, accounting for 4.1% of the fund's net value, making it the fifth-largest holding. The estimated floating loss today is approximately 243,000 yuan [2]. Fund Performance - The Xingyin Smart Consumer Mixed A Fund (018990) was established on November 2, 2023, with a latest scale of 19.7561 million yuan. Year-to-date returns are 4.29%, ranking 4830 out of 8848 in its category. Over the past year, the return is 32.78%, ranking 3911 out of 8093. Since inception, the return is 31.97% [2]. Fund Management - The fund manager of Xingyin Smart Consumer Mixed A is Qiao Huaguo, who has been in the position for 2 years and 74 days. The total asset size of the fund is 335 million yuan, with the best return during his tenure being 60.73% and the worst being 1.46% [3].

Group 1 - The core viewpoint of the article highlights the performance and financial metrics of Kefu Medical (301087) as of January 19, 2026, with a closing price of 57.73 yuan, reflecting a 1.58% increase [1] - Kefu Medical's main business involves the research, production, sales, and service of home medical devices [2] - The company reported a total revenue of 2.398 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 6.63% [2] - The net profit attributable to shareholders for the same period was 260 million yuan, up 3.3% year-on-year, while the net profit excluding non-recurring items was 222 million yuan, increasing by 1.46% [2] - In Q3 2025, Kefu Medical achieved a quarterly revenue of 902 million yuan, marking a significant year-on-year growth of 30.72% [2] - The company's Q3 net profit attributable to shareholders was approximately 92.83 million yuan, reflecting a 38.68% increase year-on-year, and the net profit excluding non-recurring items was about 85.80 million yuan, up 62.68% [2] - Kefu Medical's debt ratio stands at 27.37%, with investment income of 18.18 million yuan and financial expenses of -3.77 million yuan, while the gross profit margin is reported at 53.35% [2] Group 2 - Over the past 90 days, 8 institutions have provided ratings for Kefu Medical, with 7 buy ratings and 1 hold rating [2] - The average target price set by institutions for Kefu Medical over the last 90 days is 54.56 yuan [2] - On January 19, 2026, the net outflow of main funds was 317,800 yuan, accounting for 0.12% of the total transaction amount, while retail investors experienced a net outflow of 1.33 million yuan, representing 4.87% of the total transaction amount [1]

Investment Rating - The report maintains an "Outperform" rating for several companies, including Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, Sichuan Kelun Pharmaceutical, and Jiangsu Nhwa Pharmaceutical [6][7]. Core Insights - The annual J.P. Morgan Healthcare Conference concluded successfully, with positive information from global pharmaceutical companies, including new pipeline disclosures and major deals. The report highlights the high prosperity in the innovative drug sector and recommends continuous investment in innovative drugs and the industry chain [25][26]. - The A-Shares pharmaceutical sector underperformed the market in the third week of January 2026, with the Shanghai Composite Index falling by 0.4% and the SW Pharmaceutical and Biological sector declining by 0.7% [8][27]. - The Hong Kong stock pharmaceutical sector performed in line with the market, while the U.S. pharmaceutical sector underperformed. The Hang Seng Healthcare index increased by 2.4%, and the S&P 500 Healthcare Select Sector decreased by 1.1% [28]. Summary by Sections Section 1: Continuous Recommendation of Innovative Drugs and Industry Chain - The report emphasizes the high prosperity of innovative drugs and maintains overweight ratings for key pharmaceutical companies. It also recommends Biopharma/Biotech companies with promising pipelines and volume increases, as well as CXO and upstream companies benefiting from innovation [6][25]. Section 2: A-Shares Pharmaceutical Sector Performance - In the third week of January 2026, the A-Shares pharmaceutical sector's performance was ranked 17th among Shenwan primary industries, with a decline of 0.7%. The medical service sub-sector showed a positive performance of +3.3% [8][12][27]. Section 3: Hong Kong and U.S. Pharmaceutical Sector Performance - The Hong Kong pharmaceutical sector performed similarly to the market, while the U.S. sector underperformed. Notable gainers in the U.S. included MODERNA (+22%) and QUEST DIAGNOSTICS (+9%), while major decliners included BIOGEN (-12%) and BOSTON SCIENTIFIC (-10%) [28].

Summary of Conference Call for Kefu Medical and Lizhi Intelligent Industry and Company Overview - The conference call primarily discusses the collaboration between Kefu Medical and Lizhi Intelligent in the non-embedded brain-machine rehabilitation sector, aiming to integrate their strengths for business synergy in both B-end (hospitals) and C-end (consumers) markets [2][4]. Key Points and Arguments Collaboration and Market Strategy - Kefu Medical and Lizhi Intelligent are working together to enhance product value by combining brain-controlled rehabilitation robots with existing products, such as integrating sleep devices with ventilators [2][10]. - The partnership aims to leverage Kefu Medical's market data to iterate AI algorithms, creating a closed-loop system that enhances product profitability and brand reputation [2][11]. Technological Advancements - Lizhi Intelligent has developed a comprehensive technology chain in brain-machine interface technology, including sensor data acquisition, algorithm decoding, and execution control, which has been successfully applied in rehabilitation robots [6][8]. - The focus is on non-invasive brain-machine interface technology, which has broad application prospects in home rehabilitation, particularly for sleep management, pain management, and Parkinson's disease [5][16]. Market Demand and Policy Support - The aging population in China, which reached a rate of 22% in 2025, is driving the demand for home rehabilitation solutions [2][11]. - There is a high clinical demand for brain-machine interface products, with over 500 million yuan in orders already secured [7][14]. - At least 15 provinces in China have introduced supportive policies for the brain-machine interface industry, enhancing institutional purchasing enthusiasm [15][18]. Financial and Investment Insights - Kefu Medical has made significant investments in Lizhi Intelligent, with plans to gradually increase its shareholding to achieve business synergy [4][22]. - The company is also collaborating with Philips, with a new team established to develop a series of products expected to launch by the end of Q2 2026 [24][25]. Future Outlook - The brain-machine interface industry is in its early stages, with a projected development window of 5 to 10 years, driven by technological advancements and the growing demand from an aging population [18]. - Kefu Medical is focused on expanding its product lines and enhancing its international capabilities, with plans for an IPO in Hong Kong nearing completion [27][28]. Additional Important Content - Lizhi Intelligent's collaboration with South China University of Technology aims to foster talent and technology integration, enhancing product development and iteration [12]. - The company is also exploring invasive brain-machine interface technologies, although these are still in the research phase [12][16]. - The competitive advantage lies in providing practical, clinically applicable solutions that meet diverse medical needs, ensuring revenue generation through genuine partnerships rather than free distribution [19].

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical sector [6][26]. Core Insights - The report emphasizes the continuous recommendation of innovative pharmaceuticals and medical devices, highlighting the high growth potential in the sector. It maintains "Overweight" ratings for companies such as Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also recommends Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][3]. Summary by Sections 1. Continuous Recommendation of Innovative Pharmaceuticals and Medical Devices - The report highlights the high growth potential of innovative drugs and recommends several companies for investment, including Heng Rui Medicine, Hansoh Pharmaceutical, Sanofi, Kelun Pharmaceutical, and Enhua Pharmaceutical. It also suggests Biopharma/Biotech companies like Kelun Biotech, BeiGene, and others, as well as CXO and upstream pharmaceutical companies [6][7]. 2. A-share Pharmaceutical Sector Performance - In the third week of January 2026, the A-share pharmaceutical sector underperformed the broader market, with the Shanghai Composite Index declining by 0.4% and the SW Pharmaceutical and Biotech index falling by 0.7% [8][11]. 3. Hong Kong and US Market Performance - The Hong Kong pharmaceutical sector performed in line with the market, while the US pharmaceutical sector underperformed. In the same week, the Hang Seng Healthcare index rose by 2.4%, and the S&P 500 healthcare sector fell by 1.1% [19][20].

Group 1 - The core viewpoint of the article highlights the recent performance and financial metrics of Kefu Medical (301087), including stock price movement and trading volume [1][2] - As of January 16, 2026, Kefu Medical's stock closed at 56.83 yuan, down 2.27%, with a turnover rate of 2.5% and a trading volume of 48,600 lots, amounting to a total transaction value of 279 million yuan [1] - The net capital outflow from major funds was 36.34 million yuan, accounting for 13.03% of the total transaction value, while retail investors saw a net inflow of 52.52 million yuan, representing 18.82% of the total transaction value [1] Group 2 - For the first three quarters of 2025, Kefu Medical reported a main revenue of 2.398 billion yuan, an increase of 6.63% year-on-year, and a net profit attributable to shareholders of 260 million yuan, up 3.3% year-on-year [2] - In Q3 2025, the company achieved a single-quarter main revenue of 902 million yuan, reflecting a significant year-on-year increase of 30.72%, and a net profit of approximately 92.83 million yuan, which is a 38.68% increase year-on-year [2] - The company's debt ratio stands at 27.37%, with an investment income of 18.18 million yuan and a financial expense of -3.77 million yuan, while maintaining a gross profit margin of 53.35% [2] Group 3 - Over the past 90 days, eight institutions have provided ratings for Kefu Medical, with seven giving a "buy" rating and one an "increase" rating, while the average target price set by institutions is 54.56 yuan [2]

（记者 张明双） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 每经AI快讯，可孚医疗1月16日晚间发布公告称，公司第三届第一次董事会会议于2026年1月16日在公 司八楼会议室以现场方式召开。会议审议了《关于聘任公司董事会秘书的议案》等文件。 每经头条（nbdtoutiao）——白银50天涨逾80%，疯狂程度远超黄金，历史上爆炒白银往往预示贵金属 牛市已到高潮，这次有何不同？ ...

证券代码：301087 证券简称：可孚医疗 公告编号：2026-010 可孚医疗科技股份有限公司 2026年第一次临时股东会决议公告 4、会议召集人：公司董事会。 特别提示： 1、本次股东会未出现否决议案的情形。 5、会议主持人：董事长张敏先生。 2、本次股东会未涉及变更以往股东会已通过的决议。 一、会议召开和出席情况 1、会议召开时间： （1）现场会议时间：2026 年 1 月 16 日（星期五）15:00 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。 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2026 年 1 月 16 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互 联网投票系统投票的具体时间为 2026 年 1 月 16 日 9:15 至 15:00 的任意时间。 2、现场会议召开地点：长沙市雨花区万家丽中路一段 426 号高桥大健康医 药城 8 楼 801 会议室。 3、会议召开方式：采取现场投票与网络投票相结合的方式。 （2）中小股东出席的总体情况 通过现场和网络投票的中小股东 ...

证券代码：301087 证券简称：可孚医疗 公告编号：2026-011 可孚医疗科技股份有限公司 关于选举第三届董事会职工代表董事的公告 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。 可孚医疗科技股份有限公司（以下简称"公司"）第二届董事会任期即将届 满，根据《中华人民共和国公司法》《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 2 号—创业板上市公司规范运作》等法律 法规、规范性文件及《公司章程》等有关规定，公司按法定程序进行董事会换届 选举。公司第三届董事会由 7 名董事组成，其中包括职工代表董事 1 名。职工代 表董事由公司职工代表大会选举产生。 公司于 2026 年 1 月 16 日召开职工代表大会，经与会职工代表审议，同意选 举贺邦杰先生为公司第三届董事会职工代表董事（简历详见附件）。贺邦杰先生 将与公司 2026 年第一次临时股东会选举产生的 3 名非独立董事和 3 名独立董事 共同组成公司第三届董事会，任期至第三届董事会任期届满之日止。 2026 年 1 月 16 日 1 附件： 贺邦杰先生，1979 年 8 月出 ...