塞力医疗(603716) - 2025 Q2 - 季度财报

Important Notice This section outlines key declarations by the board, supervisors, and management, along with risk warnings and the audit status of the report I. Statement by the Board of Directors, Supervisory Board, and Senior Management The Board, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility - The Board, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness[3] II. All Directors Attended the Board Meeting All company directors attended the Board of Directors meeting - All directors attended the Board of Directors meeting[4] III. This Semi-Annual Report is Unaudited This semi-annual report has not been audited - The report is unaudited[5] IV. Statement by Company Head and Head of Accounting Department The company head and accounting department heads declare the financial report's truthfulness, accuracy, and completeness - Company Head Wen Wei, Chief Accountant Shen Yan, and Head of Accounting Department Huang Siyan declare the financial report is true, accurate, and complete[5] V. Profit Distribution Plan or Capital Reserve to Share Capital Increase Plan Approved by the Board of Directors for This Reporting Period There is no profit distribution or capital reserve to share capital increase plan for this reporting period - No profit distribution or capital reserve to share capital increase plan[6] VI. Risk Statement Regarding Forward-Looking Statements Forward-looking statements in the report do not constitute a substantive commitment, cautioning investors about investment risks - Forward-looking statements do not constitute a substantive commitment, cautioning investment risks[6] VII. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties There is no non-operating occupation of funds by controlling shareholders or other related parties - No non-operating occupation of funds[7] VIII. External Guarantees Provided in Violation of Decision-Making Procedures There are no external guarantees provided in violation of decision-making procedures - No external guarantees provided in violation of decision-making procedures[7] IX. Whether More Than Half of the Directors Cannot Guarantee the Truthfulness, Accuracy, and Completeness of the Company's Disclosed Semi-Annual Report There is no situation where more than half of the directors cannot guarantee the report's truthfulness, accuracy, and completeness - No situation where more than half of the directors cannot guarantee the report's truthfulness, accuracy, and completeness[7] X. Major Risk Warning Major risks are detailed in Section III, "Management Discussion and Analysis," Subsection V, "(I) Potential Risks" - Major risk warnings are detailed in Section III, 'Management Discussion and Analysis,' Subsection V, '(I) Potential Risks'[7] Section I Definitions This section provides definitions for key terms used throughout the report Section II Company Profile and Key Financial Indicators This section presents the company's basic information and a summary of its key financial performance and indicators I. Company Information This section outlines basic registration details, legal representative, and company abbreviation for Saily Medical - Company Chinese Name: Saily Medical Technology Group Co., Ltd[17] - Company Chinese Abbreviation: Saily Medical[17] - Legal Representative: Wen Wei[17] II. Contact Person and Information This section provides contact details for the company's Board Secretary, including address, phone, fax, and email - Board Secretary: Fan Li[18] - Contact Number: 027-83386020[18] III. Brief Introduction to Changes in Basic Information This section details changes in the company's registered and office addresses, along with its website and email - Company Registered Address: No. 1310 Jinshan Avenue, Dongxihu District, Wuhan City[19] - Company Website: **www.thalys.net.cn**[19](index=19&type=chunk) IV. Brief Introduction to Changes in Information Disclosure and Document Storage Locations This section lists the designated newspapers for information disclosure, the website for semi-annual reports, and the report's storage location - Information Disclosure Newspapers: China Securities Journal, Shanghai Securities News, Securities Daily, Securities Times[20] - Website for Semi-Annual Report: **www.sse.com.cn**[20](index=20&type=chunk) V. Company Stock Profile This section provides details on the company's A-share stock, including listing exchange, stock abbreviation, and stock code - Stock Type: A-share[21] - Stock Exchange: Shanghai Stock Exchange[21] - Stock Code: 603716[21] VII. Company's Key Accounting Data and Financial Indicators This section discloses key accounting data and financial indicators for the reporting period (January-June 2025), explaining reasons for revenue and net profit decline Key Accounting Data (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) (CNY) | Prior Year Period (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 583,500,840.55 | 975,687,565.49 | -40.20 | | Total Profit | -51,926,111.52 | 13,120,757.82 | -495.76 | | Net Profit Attributable to Shareholders of Listed Company | -56,119,215.09 | -4,772,497.51 | N/A | | Net Cash Flow from Operating Activities | -79,169,044.62 | -48,877,944.40 | N/A | | Net Assets Attributable to Shareholders of Listed Company (Period-end) | 876,660,040.59 | 934,292,086.63 | -6.17 | | Total Assets (Period-end) | 2,199,028,725.29 | 2,830,070,456.98 | -22.30 | Key Financial Indicators (Jan-Jun 2025 vs. Prior Year Period) | Indicator | Current Period (Jan-Jun) | Prior Year Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (CNY/share) | -0.29 | -0.02 | N/A | | Diluted Earnings Per Share (CNY/share) | -0.29 | -0.02 | N/A | | Weighted Average Return on Net Assets (%) | -6.73 | -0.43 | Decreased by 6.3 percentage points | - Operating revenue decreased by 40.20%, primarily due to the transfer of some subsidiary equity (reducing revenue by CNY 248 million) and strategic transformation, along with industry policy impacts leading to non-renewal of some businesses[25] - Net profit attributable to shareholders of the listed company was CNY -56.12 million, a year-on-year decrease of CNY 51.35 million, mainly affected by declining operating revenue, increased strategic R&D investment, and higher credit impairment losses[25][26] IX. Non-Recurring Gains and Losses Items and Amounts This section lists non-recurring gains and losses items and their amounts for the reporting period, totaling CNY 14.48 million - Disposal gains/losses on non-current assets: CNY 13.71 million[28] - Government grants recognized in current profit/loss: CNY 0.95 million[28] - Total non-recurring gains and losses: CNY 14.48 million[29] Section III Management Discussion and Analysis This section provides an in-depth discussion and analysis of the company's operations, financial performance, and strategic outlook I. Explanation of the Company's Industry and Main Business During the Reporting Period This section details the company's industry, macro environment, policy guidance, market challenges, and business layout in SPD+IVD+Regional Inspection, AI medical, and global innovation - China's healthcare industry is steadily growing, driven by increased health awareness, accelerated aging, and policy support, with the market size expected to approach CNY 2.4 trillion by 2029, at a 16% compound annual growth rate[32][34] - National-level "AI+medical" policies are intensively introduced, upgrading smart healthcare from "pilot encouragement" to "systematic implementation," emphasizing localization and data security[33] - SPD project penetration in national medical institutions rose to approximately 21.5%, with the market size expected to grow by 2% for the full year 2025[37] (I) Industry Overview During the Reporting Period This section outlines China's healthcare industry growth amid complex economic conditions, highlighting AI+medical policies, deepened medical insurance reform, and market outlook - China's healthcare expenditure continues to expand, with its share of GDP increasing annually, driven by an aging population and policy support[32] - AI+medical policies are systematically implemented, covering high-frequency scenarios like AI diagnosis, smart medication, and medical insurance settlement, and are included in the green channel for innovative medical devices[33] - Deepening medical insurance reform, normalized volume-based procurement squeezes profits, and DRG/DIP payment reform drives refined operations[34] - China's medical device industry market size is projected to approach CNY 2.4 trillion by 2029, with a compound annual growth rate of 16%[34] (II) Business Operations During the Reporting Period This section details Saily Medical's business progress in SPD+IVD+Regional Inspection, AI medical, and global innovation technology development - SPD+IVD+Regional Inspection Collaborative Construction: Seizing regional medical reform opportunities, SPD lean management, IVD collectivization, and regional inspection collaboration are synergistically developing, with projects in Chongqing Bishan, Jiangsu Yixing, Tongxiang, Lianzhou, and other areas steadily entering the harvest period[46][47] - AI Medical Forward-Looking Layout: Centered on "AI+Medical Big Data," building comprehensive smart hospital solutions, self-developed SPD operation software system passed multiple authoritative certifications, hardware equipment achieved localization; deployed "Mental Illness Full-Course Digital Intelligence System—Haisilingxi," collaborating with Huawei and the National Key Laboratory of Brain-Computer Intelligence to advance brain science large models in psychiatry; as the second largest shareholder of Wuhan Jindou Medical, collaborated with DeepSeek to build "Medical Big Data–Specialized Disease Large Model-Clinical Decision Support Products," reshaping disease diagnosis and treatment management services; co-built "Automated Antimicrobial Susceptibility Testing Platform + Smart AI Large Model Antimicrobial Susceptibility Diagnosis and Treatment System" with Shanghai Huashan Hospital, achieving a closed-loop for antimicrobial susceptibility testing[50][51][55][58][61] - Global Innovative Technology Multi-Track Collaborative Development: Wholly-owned subsidiary Saily Bio, driven by "technology export" and "domestic intelligent manufacturing," has deployed its coagulation assembly line ParthenON LAS and related projects in 5 core laboratories under KingMed Diagnostics; invested in Inflammatix, whose TriVerity™ detection system (Myrna™ instrument and reagents) has received FDA approval, with significant localization progress, and the Myrna™ instrument platform largely localized; introduced GA-map® detection products, open to C-end consumers, building a complete ecosystem from drug discovery to consumer gut health services; associate company Kangda Xingjian approved as a foreign-invested gene and cell therapy technology enterprise, introducing LevitasBio's LeviCell® label-free magnetophoretic cell separation and enrichment technology, reducing domestic chip costs by nearly 90%; introduced Italy's OMPECO's Friction Heat (FHT) technology, collaborating with CCIC Shenzhen and Southern University of Science and Technology on a special research project "AI Big Data Driven RDF Zero-Waste City"; partnered with Italy's COPAN to co-build the WASPLab National Exhibition Center, introducing the first domestic microbial AI identification system and fully automated microbial assembly line; strategically invested in ATRQβ-001, the world's first therapeutic antihypertensive vaccine, with IND application submitted and Phase I clinical trials expected to start in the second half of 2025[62][63][65][66][68][69][70][72][77][79][80] II. Discussion and Analysis of Operations This section summarizes the company's operating strategies and achievements in H1 2025, focusing on smart healthcare, strategic transformation, SPD upgrades, and asset optimization - The company adheres to its mission of "Innovating for a Healthy China," advancing its core strategy of "Broad Market + Regionalized Model + AI-Driven"[81] - Establishing a three-tier strategic matrix: Wuhan Headquarters (SPD/IVD collectivization, regional inspection), Shanghai Headquarters (critical illness AI in vitro diagnostics, life science technology transformation), and Chengdu Region (precision medical diagnostics)[81] - To focus on core segments, the company transferred equity in some subsidiaries (Wuhan Huixin, Aksu Yonglin, Inner Mongolia Saily) in 2024 and early 2025, recovering funds[82] (I) Further Focus on Smart Healthcare, Accelerating Strategic Transformation of Asset Operations The company continues to transform traditional medical services towards refined and smart healthcare, strategically deploying AI in diverse scenarios - The company is committed to becoming a leading domestic "AI+Medical Big Data" smart healthcare service provider[83] - Focusing on R&D of intelligent diagnostic products, digital therapy development, breaking through frontier areas such as brain science large models, rare disease/critical illness specialized models, and microbial drug resistance diagnosis and treatment prediction models[83] - Extending AI technology to innovative scenarios such as smart "zero-waste" city solutions and zero-waste industrial parks[83] (II) Deepening Smart SPD Upgrades, Strengthening Technology Innovation Layout The company is upgrading traditional SPD to "Smart SPD" by integrating IoT, AI, and blockchain, while also advancing technology innovation and localization - Promoting "Smart SPD" upgrades, integrating frontier technologies such as IoT (RFID/HarmonyOS ecosystem), AI (consumable demand forecasting), and blockchain (traceability and anti-counterfeiting)[84] - Strategic cooperation with Huawei, developing customized software solutions based on open-source databases, creating a full-chain secure solution for "data collection-storage-analysis"[84] - Participating in the localization R&D of microbial assembly line WPS-XPS and TriVerity™ detection systems, enhancing intelligence and diagnostic accuracy[85] (III) Optimizing Assets and Operations, Solidifying the Foundation for Innovative Development The company focuses on core businesses, divesting underperforming subsidiaries, optimizing resource allocation, enhancing synergy, and controlling costs while increasing R&D investment - Divesting subsidiaries with low relevance to core business and poor performance (e.g., Wuhan Huixin, Aksu Yonglin, Inner Mongolia Saily), recovering funds to focus on core segments[86] - Significant achievements in cost control, with total administrative, selling, and financial expenses decreasing by 9.40% compared to H1 2024[86] - Continuously increasing R&D investment in independent R&D of in vitro diagnostic reagents, medical IoT applications, medical big data analysis platforms, and industrialization of overseas innovative technologies[86] III. Analysis of Core Competencies During the Reporting Period This section analyzes the company's core competencies, including strong medical informatization R&D, advanced overseas technology integration, forward-looking multi-track strategy, and robust customer and data resource integration - Strong medical informatization R&D capabilities: Independently developed SPD software, combining HarmonyOS computing power with Dameng database, forming "localized, secure, and controllable" technological features, and building a "technologically independent and controllable + ecological collaborative evolution" security alliance with Huawei, Kylinsoft, etc[87][88] - Introduction and transformation of advanced overseas technologies: Introducing advanced foreign life science and molecular diagnostic technologies, achieving localized substitution through technology transfer, such as the TriVerity™ acute infection and sepsis detection system[89] - Forward-looking multi-pronged strategic layout: Deeply cultivated in the medical supply chain for over two decades, first to upgrade to SPD operation mode, building a first-mover advantage, and deploying AI medical technology for multi-track collaborative development[90] - High-quality customer and data resource integration capabilities: Possessing numerous renowned medical institution clients nationwide, collaborating with top medical institutions to develop AI digital diagnosis and treatment and data analysis models, such as the "Haisilingxi" human-computer dialogue psychotherapist[91] IV. Main Operating Performance During the Reporting Period This section provides a detailed analysis of the company's financial statement item changes, asset and liability status, and investment activities, including significant asset and equity sales - Operating revenue: CNY 584 million, a year-on-year decrease of 40.20%, mainly due to the transfer of some subsidiaries and optimization of customer structure[93][94] - Total profit: CNY -51.93 million, a year-on-year decrease of 495.76%[93][94] - R&D expenses: CNY 24.53 million, a year-on-year increase of 21.63%, mainly due to increased expenses related to R&D projects[93][94] - Net cash flow from operating activities: CNY -79.17 million, mainly due to decreased cash received from sales of goods and provision of services[93][94] - Total assets: CNY 2.20 billion, a year-on-year decrease of 22.30%, mainly due to subsidiary transfers[23][96] - Net assets attributable to shareholders of the listed company: CNY 877 million, a year-on-year decrease of 6.17%[23][96] - Significant equity sale: In December 2024, the company transferred 51% equity of its controlling subsidiary Inner Mongolia Saily for CNY 24.80 million, with all transfer payments received[104] (I) Analysis of Main Business This section provides an analysis of key financial statement item changes, explaining variations in operating revenue, costs, expenses, and cash flow Financial Statement Item Variation Analysis | Item | Current Period Amount (CNY) | Prior Year Period Amount (CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 583,500,840.55 | 975,687,565.49 | -40.20 | Transfer of some subsidiaries and customer structure optimization | | Operating Cost | 452,874,288.96 | 789,547,057.50 | -42.64 | Decrease in revenue | | Selling Expenses | 47,023,885.66 | 60,837,700.23 | -22.71 | Decrease in employee compensation and entertainment expenses | | R&D Expenses | 24,527,034.96 | 20,165,973.96 | 21.63 | Increase in expenses related to R&D projects | | Net Cash Flow from Operating Activities | -79,169,044.62 | -48,877,944.40 | N/A | Decrease in cash received from sales of goods and provision of services | | Investment Income | 9,736,549.95 | -1,810,379.62 | 637.82 | Investment income recognized from subsidiary transfer | | Credit Impairment Losses | -14,002,932.83 | 19,594,697.12 | -171.46 | Increase in impairment losses on accounts receivable | (III) Analysis of Assets and Liabilities This section analyzes period-end asset and liability changes, including cash, accounts receivable, and accounts payable, attributing changes to subsidiary transfers and collections Asset and Liability Changes | Item Name | Current Period-end Amount (CNY) | Prior Year-end Amount (CNY) | Change (%) | Reason for Change | | :--- | :--- | :--- | :--- | :--- | | Cash and Bank Balances | 122,324,295.57 | 209,435,589.90 | -41.59 | Mainly due to subsidiary transfers | | Accounts Receivable | 891,918,626.81 | 1,288,755,013.77 | -30.79 | Mainly due to subsidiary transfers and collections | | Accounts Payable | 312,200,873.12 | 730,412,691.86 | -57.26 | Mainly due to subsidiary transfers | | Total Assets | 2,199,028,725.29 | 2,830,070,456.98 | -22.30 | | | Net Assets Attributable to Shareholders of Listed Company | 876,660,040.59 | 934,292,086.63 | -6.17 | | - Overseas assets amounted to CNY 98.63 million, accounting for 4.49% of total assets[98] (IV) Investment Status Analysis This section outlines the company's overall equity investment situation during the reporting period, with a 20.23% decrease year-on-year, and discloses financial assets measured at fair value - Investment amount during the reporting period: CNY 8.99 million, a year-on-year decrease of 20.23%[100] Period-end Financial Assets Measured at Fair Value | Asset Category | Period-end Amount (CNY) | | :--- | :--- | | Accounts Receivable Financing | 2,760,544.35 | | Trading Financial Assets | 899,028.00 | | Other Equity Instrument Investments | 238,641,903.44 | | Total | 242,301,475.79 | (V) Significant Asset and Equity Sales This section discloses the significant transfer of 51% equity in controlling subsidiary Inner Mongolia Saily in December 2024 for CNY 24.80 million, with all payments received - In December 2024, the company transferred 51% equity of Inner Mongolia Saily to Shanghai Jiayueheng Medical Equipment Co., Ltd. for CNY 24.80 million[104] - As of the report disclosure date, the company has received all equity transfer payments[104] (VI) Analysis of Major Holding and Associate Companies This section details the operating performance of major subsidiaries and important associate companies, including financial data and specific updates on financing and litigation Operating Performance of Major Subsidiaries (Partial) | Company Name | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Saily Bio | 500,000.00 | 133,564,882.91 | 72,423,374.14 | 13,358,551.73 | -2,851,346.73 | | Beijing Supply Chain | 10,000,000.00 | 216,089,458.58 | 45,390,858.95 | 190,946,869.53 | 7,789,236.78 | | Jining Kangzhiyi | 5,000,000.00 | 211,494,158.72 | 27,829,454.60 | 57,760,465.13 | 13,044,699.44 | Operating Performance of Important Associate Companies (Partial) | Company Name | Registered Capital (CNY) | Total Assets (CNY) | Net Assets (CNY) | Operating Revenue (CNY) | Net Profit (CNY) | | :--- | :--- | :--- | :--- | :--- | :--- | | Wuhan Huajiyuan Bio | 4,336,100.00 | 2,969,005.38 | -31,243,704.27 | 0.00 | -8,702,817.00 | | Sichuan Xiegung | 22,791,786.00 | 85,565,321.17 | -4,104,887.65 | 52,305,744.50 | -17,185,747.96 | | Wuhan Jindou Medical | 14,844,700.00 | 181,205,847.47 | 11,902,439.52 | 7,765,478.61 | -3,728,745.61 | - Sichuan Xiegung Biotechnology Co., Ltd. completed its latest round of financing, with a post-investment valuation of CNY 800 million[106] - In the Saiweihanpu loan dispute case, the company has applied for compulsory enforcement, but apart from the remaining frozen assets under preservation, there are no other bank deposits[107][108] V. Other Disclosure Matters This section highlights potential risks including industry policy impacts, intensified market competition, internal control challenges, and increased accounts receivable and funding pressure - Industry policy impact risk: Deepening healthcare system reform, normalized policies like centralized procurement and medical insurance cost control, pose higher demands on the company's development[109][110] - Intensified market competition risk: Industry development is mature, potential entrants are increasing, and the development of internet businesses intensifies market competition[111] - Internal control and operational management risks: Numerous subsidiaries with wide geographical distribution increase management complexity, and international development faces cross-border operational management risks[112] - Accounts receivable and funding pressure risks: Long collection cycles from medical institutions lead to high accounts receivable balances, posing bad debt risks and working capital occupation risks[113] Section IV Corporate Governance, Environment, and Society This section covers changes in directors, supervisors, and senior management, profit distribution plans, equity incentives, environmental information, and rural revitalization efforts I. Changes in Directors, Supervisors, and Senior Management There were no changes in the company's directors, supervisors, or senior management during the reporting period - No changes in the company's directors, supervisors, or senior management during the reporting period[116] II. Profit Distribution or Capital Reserve to Share Capital Increase Plan There is no profit distribution or capital reserve to share capital increase plan for the reporting period - No profit distribution or capital reserve to share capital increase plan for the reporting period[116] III. Status and Impact of Company Equity Incentive Plans, Employee Stock Ownership Plans, or Other Employee Incentive Measures There were no equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period - No equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[117] IV. Environmental Information of Listed Companies and Their Major Subsidiaries Included in the List of Enterprises Required to Disclose Environmental Information by Law The company was not included in the list of enterprises required to disclose environmental information by law during the reporting period - The company was not included in the list of enterprises required to disclose environmental information by law during the reporting period[117] V. Specific Situation of Consolidating and Expanding Poverty Alleviation Achievements, Rural Revitalization, and Other Work There were no specific activities related to consolidating poverty alleviation achievements or rural revitalization during the reporting period - No specific activities related to consolidating poverty alleviation achievements or rural revitalization during the reporting period[117] Section V Significant Matters This section details significant events including commitment fulfillment, related party transactions, legal proceedings, regulatory penalties, and fundraising activities I. Fulfillment of Commitments This section discloses the fulfillment of commitments regarding financing cooperation and voting rights entrustment between controlling shareholder Saihai Technology and Hubei Changjiang Jingxuan Jilun No. 1 Ecological Investment Partnership - Controlling shareholder Saihai Technology engaged in financing cooperation with Hubei Changjiang Jingxuan Jilun No. 1 Ecological Investment Partnership (Limited Partnership), which irrevocably entrusted the voting rights of its 1,773,000 shares to Saihai Technology[119] - The commitment period is from July 7, 2023, to July 6, 2028, and was strictly fulfilled during the reporting period[119] II. Non-Operating Funds Occupied by Controlling Shareholder and Other Related Parties During the Reporting Period There was no non-operating occupation of funds by controlling shareholders or other related parties during the reporting period - No non-operating occupation of funds by controlling shareholders or other related parties during the reporting period[120] III. Irregular Guarantees There were no external guarantees provided in violation of decision-making procedures during the reporting period - No external guarantees provided in violation of decision-making procedures during the reporting period[120] IV. Semi-Annual Report Audit Status This semi-annual report has not been audited - This semi-annual report is unaudited[5] V. Changes and Handling of Matters Related to Non-Standard Audit Opinions in the Previous Annual Report There were no changes or handling of matters related to non-standard audit opinions from the previous annual report during the reporting period - No changes or handling of matters related to non-standard audit opinions from the previous annual report during the reporting period[121] VI. Bankruptcy and Reorganization Matters There were no bankruptcy and reorganization matters during the reporting period - No bankruptcy and reorganization matters during the reporting period[121] VII. Significant Litigation and Arbitration Matters This section discloses significant litigation and arbitration cases involving the company and its subsidiaries, including ongoing, withdrawn, and settled cases - Three cases, including Hunan Jieying Biotechnology Co., Ltd. vs. Wuhan Kangshengda Medical Laboratory Co., Ltd. regarding a deposit contract dispute, are still awaiting judgment[121] - During the reporting period, three cases involving Inner Mongolia Saily Medical Technology Co., Ltd. concerning company license return disputes and changes in company registration were withdrawn[123][124] - Shandong Sichuang Medical Equipment Co., Ltd. vs. Shandong Runcheng Medical Technology Co., Ltd. regarding a sales contract dispute has been judged and fulfilled, with a claim amount of CNY 2.54 million[124] - Saily Medical vs. Qingyuan Ruitong Medical Equipment Co., Ltd. regarding a loan dispute has been judged, with a claim amount of CNY 18.79 million, currently under enforcement[125] VIII. Listed Company and Its Directors, Supervisors, Senior Management, Controlling Shareholder, Actual Controller Suspected of Violations, Penalties, and Rectification This section discloses regulatory penalties and rectification efforts for the company and related parties due to unreturned raised funds, information disclosure violations, related party transaction irregularities, and non-operating fund occupation - On April 1, 2025, the company received a public reprimand from the Shanghai Stock Exchange and an order for rectification from the Hubei Securities Regulatory Bureau for not returning raised funds on time; the company has since returned all overdue raised funds[126] - On April 1, 2025, the company was investigated by the China Securities Regulatory Commission for alleged information disclosure violations and received an administrative penalty decision on April 23, resulting in a CNY 6 million fine[127] - Then-Chairman Wen Wei, then-General Manager Wang Zheng, then-CFO Shen Yan, and other responsible persons also received corresponding penalties and regulatory warnings[127][128] IX. Explanation of the Integrity Status of the Company, Its Controlling Shareholder, and Actual Controller During the Reporting Period There is no explanation of the integrity status of the company, its controlling shareholder, or actual controller during the reporting period - No explanation of the integrity status of the company, its controlling shareholder, or actual controller during the reporting period[129] X. Significant Related Party Transactions There were no significant related party transactions during the reporting period - No significant related party transactions during the reporting period[129][130] XI. Significant Contracts and Their Fulfillment This section discloses significant guarantees provided by the company for its subsidiaries, with a total outstanding guarantee balance of CNY 0 at the end of the reporting period - Total guarantee amount for subsidiaries during the reporting period: CNY 13.80 million[132] - Total outstanding guarantee balance for subsidiaries at period-end: CNY 0.00[132] - Ratio of total guarantees to company net assets: 0.00%[132] XII. Explanation of Progress in Use of Raised Funds This section details the overall use of raised funds, investment project specifics, changes or termination of projects, and temporary use of idle funds for working capital Overall Use of Raised Funds | Source of Raised Funds | Total Raised Funds (CNY) | Cumulative Investment Amount as of Period-end (CNY) | Cumulative Investment Progress (%) | | :--- | :--- | :--- | :--- | | Targeted Issuance of Shares (June 2018) | 625,959,956.79 | 607,501,224.50 | 99.98 | | Convertible Corporate Bonds (August 2020) | 543,310,000.00 | 202,784,654.49 | 38.07 | | Total | 1,169,269,956.79 | 810,285,878.99 | / | - Change or termination of fundraising projects: The "Expansion of Medical Testing Centralized Marketing and Service Business Scale Project" was canceled on June 5, 2025; prior to termination, the total raised funds invested in the project were CNY 388.09 million, with CNY 219.25 million already invested; after termination, the amount of raised funds used for working capital was CNY 172.54 million[141][142] - Use of idle raised funds to supplement working capital: Approved to use up to CNY 325 million of idle raised funds to temporarily supplement working capital for a period not exceeding 12 months, which has not yet expired as of the report disclosure date[143] XIII. Explanation of Other Significant Matters There are no other significant matters to explain during the reporting period - No other significant matters to explain during the reporting period[144] Section VI Share Changes and Shareholder Information This section details changes in share capital, shareholder structure, and the status of directors, supervisors, and senior management I. Share Capital Changes This section discloses share capital changes during the reporting period, primarily due to convertible bond conversion, and its impact on EPS and net assets per share - During the reporting period (January 1, 2025, to June 30, 2025), the company's total share capital increased by 29,821 shares due to convertible bond conversion[147] - Total shares at period-end: 191,018,075 shares[146] - After the reporting period (July 1, 2025, to August 20, 2025), convertible bonds were cumulatively converted into 19,121,171 shares, increasing the company's total share capital to 210,139,246 shares[149] - After conversion, basic earnings per share were CNY -0.2869/share, and net assets per share were CNY 4.5655/share[149] II. Shareholder Information This section discloses the total number of ordinary shareholders, top ten shareholders, and top ten unrestricted shareholders at period-end, including shareholdings, percentages, and pledge status - Total number of ordinary shareholders at period-end: 45,698 households[150] Top Ten Shareholders' Shareholding (Partial) | Shareholder Name | Period-end Shareholding (shares) | Percentage (%) | Pledged Quantity (shares) | Shareholder Nature | | :--- | :--- | :--- | :--- | :--- | | Saihai (Shanghai) Health Technology Co., Ltd. | 21,642,540 | 11.33 | 15,800,000 | Domestic Non-State-Owned Legal Person | | Shanghai Angze Private Equity Fund Management Co., Ltd. - Angze Taiying No. 6 Private Securities Investment Fund | 12,100,399 | 6.33 | 0 | Other | | Wen Wei | 9,634,208 | 5.04 | 9,150,000 | Domestic Natural Person | - Controlling shareholder Saihai Technology transferred shares to Hubei Changjiang Jingxuan Jilun No. 1 Ecological Investment Partnership (Limited Partnership) via block trade, and Jilun No. 1 irrevocably entrusted its voting rights to Saihai Technology[154] III. Information on Directors, Supervisors, and Senior Management There were no changes in shareholdings or equity incentives for the company's directors, supervisors, and senior management during the reporting period - No changes in shareholdings or equity incentives for the company's directors, supervisors, and senior management during the reporting period[155] IV. Changes in Controlling Shareholder or Actual Controller There were no changes in the company's controlling shareholder or actual controller during the reporting period - No changes in the company's controlling shareholder or actual controller during the reporting period[155] V. Preferred Share Information There is no preferred share information for the company during the reporting period - No preferred share information for the company during the reporting period[155] Section VII Bond-Related Information This section provides details on the company's bond instruments, specifically focusing on the convertible corporate bonds I. Corporate Bonds (Including Enterprise Bonds) and Non-Financial Enterprise Debt Financing Instruments There were no corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments during the reporting period - No corporate bonds (including enterprise bonds) or non-financial enterprise debt financing instruments during the reporting period[157] II. Convertible Corporate Bonds This section details the issuance, holder information, changes, cumulative conversion, price adjustments, debt status, credit rating, and future repayment plans for the company's convertible corporate bonds - Issuance: On August 21, 2020, CNY 543.31 million convertible corporate bonds, named "Saily Convertible Bonds" (code "113601"), were publicly issued[157] - Number of convertible bondholders at period-end: 8,500 households[158] Convertible Bond Changes During the Reporting Period | Convertible Corporate Bond | Before This Change (CNY) | Increase/Decrease in This Change (CNY) | After This Change (CNY) | | :--- | :--- | :--- | :--- | | Saily Convertible Bonds | 418,169,000 | 358,000 | 417,811,000 | - Cumulative conversion: Conversion amount during the reporting period was CNY 0.36 million, with 29,821 shares converted; cumulative converted shares totaled 114,799, accounting for 0.0560% of the company's total shares issued before conversion[161] - Historical adjustments to conversion price: Adjusted to CNY 13.71/share in September 2024, CNY 12.71/share in October 2024, CNY 12.50/share in November 2024, and CNY 12.00/share in February 2025[163][164] - Debt situation: As of the end of the reporting period, the company's asset-liability ratio was 61.42%[165] - Credit rating: China Chengxin International Credit Rating Co., Ltd. rated the company's main credit rating as "BB+" with a "stable" outlook, and "Saily Convertible Bonds" credit rating as "BB+"[165] - Post-reporting period conversion: From July 1 to August 20, 2025, cumulative convertible bond conversion amounted to CNY 229.47 million, with an unconverted balance of CNY 188.35 million, accounting for 34.67% of the total issuance[166] Section VIII Financial Report This section contains the company's unaudited financial statements, including balance sheets, income statements, cash flow statements, and statements of changes in equity I. Audit Report This semi-annual report has not been audited - This semi-annual report is unaudited[5] II. Financial Statements This section includes the company's consolidated and parent company balance sheets, income statements, cash flow statements, and statements of changes in owners' equity Consolidated Balance Sheet As of June 30, 2025, the company's consolidated total assets were CNY 2.20 billion, total liabilities CNY 1.35 billion, and total owners' equity CNY 0.85 billion - Total assets: CNY 2.20 billion[171] - Total liabilities: CNY 1.35 billion[171] - Total owners' equity: CNY 848.47 million[171] Parent Company Balance Sheet As of June 30, 2025, the parent company's total assets were CNY 2.00 billion, total liabilities CNY 0.87 billion, and total owners' equity CNY 1.13 billion - Total assets: CNY 2.00 billion[174] - Total liabilities: CNY 868.09 million[174] - Total owners' equity: CNY 1.13 billion[174] Consolidated Income Statement For Jan-Jun 2025, the company's consolidated total operating revenue was CNY 0.58 billion, total operating costs CNY 0.63 billion, net loss CNY 51.55 million, and net loss attributable to parent company shareholders CNY 56.12 million - Total operating revenue: CNY 583.50 million[176] - Total operating costs: CNY 631.91 million[176] - Net profit: CNY -51.55 million[177] - Net profit attributable to parent company shareholders: CNY -56.12 million[177] Parent Company Income Statement For Jan-Jun 2025, the parent company's operating revenue was CNY 0.11 billion, and net profit was CNY 17.75 million - Operating revenue: CNY 111.70 million[180] - Net profit: CNY 17.75 million[181] Consolidated Cash Flow Statement For Jan-Jun 2025, net cash flow from operating activities was CNY -79.17 million, from investing activities CNY 39.97 million, and from financing activities CNY -47.21 million - Net cash flow from operating activities: CNY -79.17 million[184] - Net cash flow from investing activities: CNY 39.97 million[184] - Net cash flow from financing activities: CNY -47.21 million[185] Parent Company Cash Flow Statement For Jan-Jun 2025, net cash flow from operating activities was CNY 0.70 million, from investing activities CNY 103.52 million, and from financing activities CNY -95.39 million - Net cash flow from operating activities: CNY 0.70 million[187] - Net cash flow from investing activities: CNY 103.52 million[188] - Net cash flow from financing activities: CNY -95.39 million[188] Consolidated Statement of Changes in Owners' Equity For Jan-Jun 2025, consolidated owners' equity decreased by CNY 113.58 million, mainly due to net loss and changes in minority interests - Amount of increase/decrease for the current period (decrease): CNY -113.58 million[190] - Total owners' equity at period-end: CNY 848.47 million[191] Parent Company Statement of Changes in Owners' Equity For Jan-Jun 2025, parent company owners' equity increased by CNY 17.22 million, primarily due to net profit - Amount of increase/decrease for the current period (increase): CNY 17.22 million[201] - Total owners' equity at period-end: CNY 1.13 billion[202] III. Company Basic Information This section details Saily Medical Technology Group Co., Ltd.'s history, registration, business scope, and number of consolidated subsidiaries - The company's predecessor was Wuhan Saily Biotechnology Co., Ltd., established on February 23, 2004[204] - The company was wholly converted into a joint-stock company on July 6, 2012[209] - Main business scope: Centralized operation services for medical testing (IVD collectivization), collaborative construction of regional testing centers, centralized operation services for medical consumables (SPD business), and pure sales business[218] - As of June 30, 2025, the Group included 42 second-tier subsidiaries in its consolidated scope[218] IV. Basis of Preparation of Financial Statements This section states that the financial statements are prepared on a going concern basis, adhering to accounting standards, and using accrual basis and historical cost - Financial statements are prepared on a going concern basis[219] - Adhering to enterprise accounting standards, based on the accrual basis, and measured at historical cost except for financial instruments[220] V. Significant Accounting Policies and Accounting Estimates This section lists the company's specific accounting policies and estimates for various financial items, including revenue recognition, financial instruments, inventory, and R&D expenses - The company has formulated specific accounting policies and estimates for revenue recognition, research and development expenditures, etc., based on its actual production and operation characteristics[221] - Materiality threshold: Single item amount accounts for more than 1% of the corresponding receivables and exceeds CNY 5 million[226] - Financial assets are classified into three categories: measured at amortized cost, measured at fair value with changes recognized in other comprehensive income, and measured at fair value with changes recognized in current profit or loss[250] - Inventories are valued using the weighted average method upon issuance, and measured at the lower of cost and net realizable value at period-end[272][274] - R&D expenditures are divided into research and development phases; research phase expenditures are recognized in current profit or loss, while development phase expenditures are recognized as intangible assets when conditions are met[304][305] - Revenue recognition: Revenue is recognized when the customer obtains control of the related goods, considering factors such as variable consideration and significant financing components[328] - Government grants: Asset-related grants are recognized as deferred income, while income-related grants are recognized as deferred income or current profit or loss depending on the compensation object[337] - Significant accounting judgments and estimates include revenue recognition, leases, impairment of financial assets, inventory write-downs, impairment of long-term assets, depreciation and amortization, deferred tax assets, and income tax[355][356][360][361][362][363][364][365][366] VI. Taxation This section lists the company's main tax categories and rates, including VAT, urban maintenance and construction tax, and corporate income tax, noting preferential policies for subsidiaries - Main tax categories: Value-added tax (13%, 9%, 6%, 3%), urban maintenance and construction tax (7%), education surcharge (3%), local education surcharge (2%), corporate income tax[368] - Subsidiaries Wuhan Saily Biotechnology Co., Ltd., Beijing Jingyang Tengwei Technology Development Co., Ltd., and Saily Medical Supply Chain Management (Beijing) Co., Ltd. enjoy high-tech enterprise income tax preferential policies, with a tax rate of 15%[369][370] - Subsidiaries Hebei Saily Medical Technology Co., Ltd. and Wuhan Ruichu Medical Technology Co., Ltd. enjoy small and micro-enterprise income tax preferential policies[371][372] VII. Notes to Consolidated Financial Statement Items This section provides detailed notes and explanations for various consolidated financial statement items, including period-end balances, beginning balances, changes, and reasons for changes - Cash and bank balances at period-end were CNY 122 million, a 41.59% decrease from the beginning of the period, mainly due to subsidiary transfers[374] - Accounts receivable at period-end were CNY 892 million, a 30.79% decrease from the beginning of the period, mainly due to subsidiary transfers and collections[387][390] - Operating revenue was CNY 584 million, and operating costs were CNY 453 million, representing year-on-year decreases of 40.20% and 42.64%, respectively[531] - R&D expenses were CNY 24.53 million, a year-on-year increase of 21.63%[538] VIII. Research and Development Expenses This section lists the composition of the company's R&D expenses for the current period, totaling CNY 24.53 million, all expensed, primarily for employee compensation and materials - Total R&D e