Industry Overview - The ear thermometer is a non-contact temperature measurement tool that offers advantages such as accuracy, speed, convenience, safety, and resistance to external environmental interference, making it suitable for various applications in healthcare, industry, schools, homes, and public places [1][12] - The market demand for ear thermometers has been steadily increasing, particularly influenced by heightened public health awareness and advancements in medical detection technology [1][12] - In 2020, the domestic ear thermometer market size exceeded 600 million yuan, with a year-on-year growth of 17.31%, highlighting its critical role in public health emergency systems [1][12] - The market size for the ear thermometer industry in China is projected to reach 830 million yuan in 2024, with a year-on-year growth of 6.41%, and approximately 900 million yuan in 2025 [1][12] Industry Development History - The ear thermometer industry traces back to the 1980s, gaining momentum in the 1990s due to rising household demand for medical devices [7] - The 21st century has seen unprecedented growth in the ear thermometer industry, driven by continuous innovation in medical technology and increased public health awareness [7] Industry Chain - The ear thermometer industry chain consists of upstream raw materials and components, including metals, plastics, infrared sensors, chips, displays, batteries, and microcontrollers [8] - The midstream involves the production and manufacturing of ear thermometers, while the downstream encompasses sales channels such as medical device specialty stores, large chain pharmacies, e-commerce platforms, and supermarkets [8] Market Competition - The competition in the ear thermometer industry features both domestic and international brands, with foreign companies holding significant market positions due to their established technology and brand advantages [13] - Notable domestic companies include Yuyue Medical, Jiuan Medical, and Kefu Medical, which are rapidly developing through product innovation and channel expansion [13] Key Companies - Yuyue Medical Equipment Co., Ltd. focuses on providing home medical devices and clinical products, with a significant portion of its revenue coming from home health monitoring solutions [13] - Kefu Medical Technology Co., Ltd. specializes in medical device research, production, and sales, with a diverse product line covering health monitoring and rehabilitation [14] Future Trends - The ear thermometer is expected to evolve into a personal health management terminal that integrates health data monitoring and intelligent analysis, enhancing its role in chronic disease management and early epidemic screening [15] - Continuous improvements in measurement accuracy will focus on overcoming complexities in deep ear canal measurements through multi-sensor fusion technology and adaptive calibration algorithms [16] - The industry is anticipated to shift towards data and service-oriented ecological integration, establishing new standards for measurement accuracy and data privacy, which will enhance the reliability of temperature data for remote healthcare and public health monitoring [18]

证券之星消息，截至2026年2月6日收盘，可孚医疗(301087)报收于54.47元，上涨0.15%，换手率 1.51%，成交量2.94万手，成交额1.6亿元。 可孚医疗2025年三季报显示，前三季度公司主营收入23.98亿元，同比上升6.63%；归母净利润2.6亿 元，同比上升3.3%；扣非净利润2.22亿元，同比上升1.46%；其中2025年第三季度，公司单季度主营收 入9.02亿元，同比上升30.72%；单季度归母净利润9282.98万元，同比上升38.68%；单季度扣非净利润 8580.27万元，同比上升62.68%；负债率27.37%，投资收益1818.06万元，财务费用-377.36万元，毛利率 53.35%。可孚医疗（301087）主营业务：家用医疗器械的研发、生产、销售和服务。 该股最近90天内共有5家机构给出评级，买入评级4家，增持评级1家；过去90天内机构目标均价为 54.92。 资金流向名词解释：指通过价格变化反推资金流向。股价处于上升状态时主动性买单形成的成交额是推 动股价上涨的力量，这部分成交额被定义为资金流入，股价处于下跌状态时主动性卖单产生的的成交额 是推动股价下跌的力量，这部分 ...

Group 1 - The stock price of Kefu Medical (301087) closed at 54.39 yuan on February 5, 2026, with an increase of 1.49% and a turnover rate of 2.32% [1] - The trading volume was 45,100 hands, with a total transaction amount of 244 million yuan [1] - The net inflow of main funds was 1.1153 million yuan, accounting for 0.46% of the total transaction amount, while retail investors had a net outflow of 28.4653 million yuan, accounting for 11.64% [1] Group 2 - In the financing and securities lending data, the financing buy amounted to 21.9706 million yuan, with a net financing purchase of 7.5677 million yuan [2] - The stock had a financing and securities lending balance of 160 million yuan [2] - The company reported a main revenue of 2.398 billion yuan for the first three quarters of 2025, a year-on-year increase of 6.63%, and a net profit attributable to shareholders of 260 million yuan, up 3.3% year-on-year [3] Group 3 - In Q3 2025, the company achieved a single-quarter main revenue of 900.2 million yuan, a year-on-year increase of 30.72%, and a net profit of approximately 92.8298 million yuan, up 38.68% year-on-year [3] - The company’s gross profit margin was 53.35%, with a debt ratio of 27.37% [3] - Over the past 90 days, five institutions provided ratings for the stock, with four buy ratings and one hold rating, and the average target price was 54.92 yuan [3]

Core Insights - The establishment of the Kefu Artificial Intelligence Research Institute marks a significant advancement in Kefu Medical's strategy in the "AI + healthcare" sector, transitioning from isolated applications to a systematic and platform-based approach [1][2] Group 1: Company Developments - Kefu Medical has been deeply involved in the home medical device industry for 20 years, creating a comprehensive product system covering five major areas: health monitoring, rehabilitation aids, respiratory support, medical care, and traditional Chinese medicine therapy, serving over 50 million families globally [1] - The company has built three research institutes focusing on medical electronics and rehabilitation medicine, biosensors and innovative materials, and respiratory support, employing nearly 400 R&D personnel and holding approximately 700 authorized patents [1][2] Group 2: AI Research Institute Objectives - The AI Research Institute will focus on key areas such as medical large models and multimodal data analysis, aiming to upgrade products from "functional devices" to "intelligent health management terminals" [2] - The institute plans to implement a flat management model and aims to achieve a full-link closed-loop medical service through the dual drive of "intelligent medical devices" and "AI-driven medical services" [2][3] Group 3: Future Plans and Market Position - The research institute is expected to release the internal large model version 1.0 this year and will first validate AI algorithms on new respiratory devices, transitioning them from "data recorders" to "health analysts" [3] - As AI applications in healthcare deepen, competition is shifting from product performance to algorithm, data accumulation, and systematic R&D capabilities, positioning Kefu Medical for long-term technological evolution and product upgrades [3]

Summary of Key Points from the Conference Call Company Overview - **Company**: 可孚医疗 (Kefu Medical) - **Location**: Changsha, Hunan, China - **Business Model**: Combination of distribution and agency, with online channels accounting for approximately 65%-70% of sales and offline sales through chain pharmacies and self-operated stores [2][3] Financial Performance - **Revenue Growth**: Since 2022, the company has maintained double-digit growth, even reaching up to 20% growth on a high base [5] - **Gross Margin**: Slight increase due to a higher proportion of self-produced products [5] - **Net Profit Margin**: Currently around 10%, expected to rise to 15% [5] - **Sales Structure**: Rehabilitation aids, medical care, and health monitoring contribute approximately 70% of total revenue [2][3] Industry Insights - **Market Size**: The home medical device industry is nearing 200 billion RMB, with a compound annual growth rate (CAGR) expected between 7%-10% [2][6] - **Market Concentration**: The industry is characterized by low concentration, with leading companies holding small market shares; Kefu Medical's annual sales have not yet reached 5 billion RMB, representing less than 3% of the market [8] - **Rehabilitation Aids Market**: Estimated market size of 30-40 billion RMB, with wheelchairs and hearing aids as major products; Kefu Medical has a market share of approximately 2.4% in this segment [9] Strategic Initiatives - **Hearing Aid Business**: Adjusted strategy to slow down store expansion and focus on optimizing existing stores for profitability; aims to achieve profitability by 2026 [4][12] - **Acquisitions**: Expanded business through acquisitions of companies like Jirui Medical and Beibeijia, and strategic partnerships with Philips to enhance brand influence [4][19] - **Overseas Expansion**: Focused on international markets, with expected overall revenue growth of 20% [4][18][22] Future Outlook - **Growth Drivers**: Population aging and increasing demand for chronic disease management are expected to drive growth in the home medical device sector [6] - **Technological Investments**: Investments in advanced technologies such as bionic ears, bionic eyes, and brain-machine interface rehabilitation devices indicate a strong focus on future technological development [20][21] - **Market Potential**: The home medical device industry is seen as a long-term growth opportunity, with Kefu Medical positioned to maintain steady growth through business model optimization and brand influence expansion [6][22] Additional Insights - **Consumer Behavior**: High demand for cost-effectiveness and increasing expectations for multifunctional and wearable devices in the home medical device market [7] - **Challenges in Hearing Aids**: The market is currently dominated by imported brands, and consumer acceptance in China is relatively low compared to developed countries, necessitating long-term patient education [10] - **Electric Wheelchair Market**: Electric wheelchairs are a growth point, with increasing demand from disabled families and the public sector [11]

Group 1 - The core viewpoint of the article highlights the performance and financial metrics of Kefu Medical (301087) as of February 4, 2026, showing a stock price increase and specific capital flow data [1] - Kefu Medical reported a main 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 the parent company for the same period was 260 million yuan, up 3.3% year-on-year, with a net profit margin of 53.35% [2] Group 2 - In Q3 2025, Kefu Medical achieved a single-quarter revenue of 902 million yuan, reflecting a significant year-on-year increase of 30.72% [2] - The company’s net profit for Q3 2025 was approximately 92.83 million yuan, marking a year-on-year increase of 38.68% [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 [2] Group 3 - The stock has received ratings from five institutions in the last 90 days, with four buy ratings and one hold rating, and the average target price set at 5.492 billion yuan [2] - As of February 4, 2026, the stock's trading volume was 23,000 hands, with a total transaction amount of 121 million yuan [1] - The capital flow data indicates a net inflow of 6.78 million yuan from main funds, accounting for 5.59% of the total transaction amount [1]

证券之星消息，截至2026年2月3日收盘，可孚医疗(301087)报收于52.44元，上涨2.4%，换手率1.07%， 成交量2.08万手，成交额1.09亿元。 2月3日的资金流向数据方面，主力资金净流出148.07万元，占总成交额1.36%，游资资金净流出506.87 万元，占总成交额4.66%，散户资金净流入654.94万元，占总成交额6.02%。 近5日资金流向一览见下表： | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净占比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2026-02-03 | 52.44 | 2.40% | -148.07万 | -1.36% | -506.87万 | -4.66% | 654.94万 | 6.02% | | 2026-02-02 | 51.21 | -2.83% | - -475.19万 | -3.76% | -87.62万 | -0.69% | 562.80万 | 4.45% | | 2026-01-30 | 52.70 -0 ...

有投资者在互动平台向可孚医疗提问："请问贵司到港上市申请进展如何了，之前上层领导要求市值达 到300亿才可受理。贵司是否有计划市值管理工作？" 针对上述提问，可孚医疗回应称："尊敬的投资者，您好！公司已于2025年8月29日向香港联交所递交H 股发行及上市申请。本次发行并上市尚需取得香港证监会和香港联交所、中国证券监督管理委员会等相 关政府机关、监管机构、证券交易所的批准、核准或备案。公司将严格按照相关法律法规要求，根据事 项进展及时履行信息披露义务，敬请您关注公司后续公告。关于市值管理相关工作，公司始终认为，市 值的核心支撑是公司的经营发展质量与长期价值创造能力。公司将聚焦主业发展，不断提升研发创新、 生产运营、市场拓展及国际化布局能力，通过夯实经营基本面、提升公司核心竞争力与可持续发展能 力，为股东创造长期稳定的投资价值。同时，公司将严格按照监管要求，做好信息披露工作，加强与资 本市场的沟通交流，让广大投资者更清晰、全面地了解公司经营发展情况。感谢您的关注。" 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 本文源自：市场资讯 作者：公告君 ...

证券之星消息，截至2026年1月29日收盘，可孚医疗(301087)报收于53.06元，下跌0.41%，换手率 1.35%，成交量2.63万手，成交额1.41亿元。 1月29日的资金流向数据方面，主力资金净流出392.38万元，占总成交额2.79%，游资资金净流入 1539.41万元，占总成交额10.93%，散户资金净流出1147.03万元，占总成交额8.14%。 近5日资金流向一览见下表： 资金流向名词解释：指通过价格变化反推资金流向。股价处于上升状态时主动性买单形成的成交额是推 动股价上涨的力量，这部分成交额被定义为资金流入，股价处于下跌状态时主动性卖单产生的的成交额 是推动股价下跌的力量，这部分成交额被定义为资金流出。当天两者的差额即是当天两种力量相抵之后 剩下的推动股价上升的净力。通过逐笔交易单成交金额计算主力资金流向、游资资金流向和散户资金流 向。 注：主力资金为特大单成交，游资为大单成交，散户为中小单成交 该股主要指标及行业内排名如下： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 可孚医疗2025年三季报显示，前三季 ...

Group 1 - The "Implementation Plan for Strengthening the Foundation in Disease Prevention and Control" aims to enhance the grassroots disease control system by addressing issues such as resource imbalance, outdated equipment, and weak digital capabilities [1][2] - The plan sets two key targets: by the end of 2027, a basic grassroots disease control network will be established, and by 2030, the system will be optimized for efficiency and digital empowerment [1][2] Group 2 - Companies in the industry are actively aligning their strategies with the policy requirements, focusing on technology development, product offerings, and practical applications [3] - Shengxiang Biotechnology Co., Ltd. is developing integrated solutions that include rapid testing reagents, devices, and digital systems to meet the core needs outlined in the policy [3] - Retail pharmacies, such as Lao Baixing Pharmacy Chain Co., Ltd., play a crucial role in disease control by providing essential services and medication supply, thus enhancing public health service capabilities [4] - Kefu Medical Technology Co., Ltd. is focusing on smart upgrades of its products to provide efficient diagnostic and health management tools for grassroots healthcare facilities [4]