证券代码：688271 证券简称：联影医疗 公告编号：2025-041 上海联影医疗科技股份有限公司 第二届董事会第二十四次会议决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 一、董事会会议召开情况 上海联影医疗科技股份有限公司（以下简称"公司"）第二届董事会第二十 四次会议于 2025 年 10 月 14 日在公司会议室召开，会议同时采用了现场与通讯 相结合的表决方式，经公司全体董事书面同意，本次董事会临时会议豁免提前 5 日的通知时限，会议通知于 2025 年 10 月 14 日送达公司全体董事。本次会议由 董事长张强先生主持，会议应参加表决董事 9 人，实际参加表决董事 9 人。本次 会议的召集、召开符合《中华人民共和国公司法》（以下简称"《公司法》"） 等法律法规以及《上海联影医疗科技股份有限公司章程》（以下简称"《公司章 程》"）的相关规定，会议决议合法、有效。 二、董事会会议审议情况 （一）审议通过《关于向公司 2025 年限制性股票激励计划激励对象授予预 留部分限制性股票的议案》 根据《上市公司股权 ...

上海联影医疗科技股份有限公司董事会薪酬与考核委员会 关于公司 2025 年限制性股票激励计划 预留授予激励对象名单（预留授予日）的核查意见 上海联影医疗科技股份有限公司（以下简称"公司"）于 2025 年 10 月 14 日召开第二届董事会薪酬与考核委员会 2025 年第四次会议，审议通过了《关于 向公司 2025 年限制性股票激励计划激励对象授予预留部分限制性股票的议案》。 公司董事会薪酬与考核委员会依据《中华人民共和国公司法》（以下简称 "《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上市公 司股权激励管理办法》（以下简称"《管理办法》"）、《上海证券交易所科创板股 票上市规则》（以下简称"《上市规则》"）、《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等相关法律、法规及规范性文件和《上海联影医疗 科技股份有限公司章程》（以下简称"《公司章程》"）的有关规定，对公司 2024 年限制性股票激励计划（以下简称"本激励计划"）预留授予日的激励对 象名单进行审核，并发表核查意见如下： 1、本激励计划预留授予的激励对象均不存在《管理办法》第八条规定的不 得成为激励对象的情形： ...

Core Insights - The Medical Health Index (980016) closed at 6759.45 points, up 1.78%, with a trading volume of 27.946 billion yuan and a turnover rate of 1.0% [1] - Among the index constituents, 40 stocks rose, with Huahai Pharmaceutical leading at a 7.59% increase, while 9 stocks fell, with BGI Genomics leading the decline at 2.93% [1] Index Performance - The Medical Health Index saw a net inflow of 1.063 billion yuan from main funds, while retail investors experienced a net outflow of 392 million yuan [1] - The top ten constituents of the index include major companies such as WuXi AppTec, Hengrui Medicine, and Mindray Medical, with varying market capitalizations and price changes [1] Fund Flow Analysis - Huahai Pharmaceutical had a main fund net inflow of 163 million yuan, while retail investors saw a net outflow of 76.6 million yuan [2] - Other notable companies with significant fund flows include Aier Eye Hospital and Hengrui Medicine, both experiencing mixed inflows and outflows from different investor categories [2]

Core Viewpoint - Shanghai is actively developing its biopharmaceutical industry, aiming to create a world-class industrial cluster with significant investment and growth potential [4][8]. Investment Initiatives - Shanghai Guotou Company has established a biopharmaceutical industry mother fund with a total scale of 22.5 billion yuan, focusing on early-stage investments and long-term support for hard technology [6]. - The Shanghai Future Industry Fund, with a total scale of 15 billion yuan, aims to leverage fiscal funds to promote original innovation and technology transformation [6]. - By October 2025, these funds have collectively decided on investments of nearly 6 billion yuan in biopharmaceutical sub-funds, with a market selection of 18 sub-funds [6]. Industry Growth - The biopharmaceutical industry in Shanghai has shown continuous growth, increasing from 761.71 billion yuan in 2021 to an estimated 1 trillion yuan in 2025, with a compound annual growth rate of 8.94% [9]. - In the first half of 2025, the industry reached 500.56 billion yuan, indicating strong momentum towards surpassing the 1 trillion yuan mark [9]. Company Landscape - As of the end of 2024, there are 2,183 regulated biopharmaceutical enterprises in Shanghai, with leading companies like United Imaging Healthcare and Innovent Biologics maintaining significant market positions [10]. - Notably, 19 of the top 20 global pharmaceutical and medical device companies have established headquarters or R&D centers in Shanghai, highlighting the city's attractiveness for high-caliber projects [10]. Collaborative Efforts - A recent signing ceremony involved 10 institutions, including major investment firms, indicating a robust collaborative environment within the biopharmaceutical sector [4][6]. - The establishment of industrial clusters in areas like Pudong and Minhang is aimed at enhancing resource concentration and fostering innovation [10].

Group 1 - The medical device ETF (562600) saw a closing increase of 1.18% on October 15, with strong performances from stocks such as TransMedics Life Sciences, which rose by 10.38%, and Jimin Health, which hit a strong limit up of 10.03% [1] - Mindray Medical announced plans to issue overseas listed foreign shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its capital strength and support its internationalization strategy [1] - According to招商证券, the Chinese medical device industry is expected to enter a new development phase from the second half of 2025 to 2026, driven by improved internal policy environments and external market expansion [1] Group 2 - The medical device ETF (562600) tracks the CSI All Share Medical Device Index, selecting 100 representative listed companies in the medical device, medical services, and medical information sectors, with a high industry concentration of 89.34% [2] - As of October 10, the top ten holdings of the medical device ETF (562600) accounted for 23.81% of the total, with Mindray Medical and United Imaging Healthcare being the most significant contributors [2]

Investment Rating - The report assigns a "Buy" rating to the company [4]. Core Insights - The company has rapidly developed into a leading enterprise in the high-end medical imaging equipment sector in China, with a comprehensive product line covering CT, MR, MI, XR, and RT [1][2]. - The shift towards centralized procurement in various provinces is expected to significantly accelerate the domestic replacement rate of medical imaging equipment, particularly in high-end devices, leading to sustained industry prosperity [1][2]. - The company's global expansion strategy aims to establish benchmarks in high-end markets, build barriers in mature markets, and create ecosystems in emerging markets, with strong growth anticipated in overseas business [1][2]. Summary by Sections Company Overview - Founded in 2011, the company focuses on high-performance medical imaging diagnostic and treatment equipment, providing innovative solutions across the entire chain from basic research to clinical application [15][18]. Financial Performance - The company achieved total revenue of 10.3 billion yuan in 2024, a decrease of 9.73% year-on-year, with a net profit attributable to the parent company of 1.262 billion yuan, down 36.08% [3][28]. - For the first half of 2025, the company reported revenue of 60.16 billion yuan, a year-on-year increase of 12.79%, and a net profit of 9.98 billion yuan, up 5.03% [28]. Product Lines and Market Position - The company has established five major product lines: CT, MR, MI, XR, and RT, with steady development across all lines [41]. - In the CT segment, the company launched the first domestic photon counting CT device, uCT Ultima, which received NMPA approval, marking a significant innovation milestone [2][41]. - The MR segment saw a revenue increase of 16.80% in the first half of 2025, with the ultra-high-end MR device uMR Jupiter 5T gaining traction globally [41]. - The MI segment maintained its leadership in the PET/CT market, with continuous growth in installations [41]. Global Expansion - The company has expanded its overseas revenue significantly, with 22.20 billion yuan in overseas income in 2024, representing a year-on-year increase of 33.81% [37]. - The establishment of regional headquarters and R&D centers in various global locations supports the company's international growth strategy [19][20].

Core Insights - The medical sector in A-shares is experiencing a significant rebound, with the largest medical ETF (512170) seeing a premium increase of over 1% and a trading volume exceeding 240 million yuan [1] - The latest scale of the ETF is 25.849 billion yuan, ranking it first among all medical ETFs in the market [1] ETF Performance - The medical ETF (512170) is currently trading at 0.377 yuan, with a rise of 0.004 yuan (1.07%) [2] - The ETF has attracted a total of 675 million yuan in the last three days, indicating strong buying interest [3] Market Trends - The Shanghai International Biopharmaceutical Industry Week, which opened on October 13, focuses on global innovation in drugs and medical devices, highlighting the expanding scale of the biopharmaceutical industry in Shanghai [5] - In 2024, 30 new domestic innovative drugs and 45 innovative medical devices are expected to be approved, representing 17% and 20% of the national totals, respectively [5] Industry Outlook - According to Xinda Securities, while the pharmaceutical and biotechnology sector is currently affected by policy fluctuations, the long-term industry trend remains positive, with Chinese innovative drug companies gaining global competitiveness [5] - Dongwu Securities notes that tariff policies have minimal impact on medical devices, and there is optimism regarding domestic substitution and self-control in the industry [5] ETF Composition - The medical ETF (512170) passively tracks the CSI Medical Index, with the top ten weighted stocks including WuXi AppTec, Mindray Medical, and others [6]

Group 1: Company Overview - Ningbo Jianxin Superconducting Technology Co., Ltd. (referred to as "Jianxin Superconducting") is preparing for its IPO review on the Sci-Tech Innovation Board, focusing on the R&D, production, and sales of core components for MRI equipment [1] - The company is one of the earliest manufacturers in China to scale the production of high-field superconducting magnets, breaking the long-standing monopoly of foreign manufacturers in the 1.5T superconducting magnet sector since 2015 [1][4] - Jianxin Superconducting has established itself as the largest independent supplier of superconducting magnets globally, with a projected global market share ranking of fifth and second among domestic companies in 2024 [1][6] Group 2: Market Dynamics - The global MRI equipment market is expected to grow from $11.1 billion in 2024 to $14.89 billion by 2030, with a compound annual growth rate (CAGR) of approximately 5.0% [2] - The Chinese MRI equipment market has seen growth from 10.45 billion yuan in 2015 to 16.6 billion yuan in 2024, with an anticipated CAGR of 5.3%, further projected to reach 22.76 billion yuan by 2030 [2] - Superconducting MRI devices are the mainstream type in the domestic market, expected to account for over 90% of the total installed capacity in 2024 [2] Group 3: Policy and Technological Support - Recent national policies have supported the development of medical equipment, particularly encouraging innovation in domestic medical devices and focusing on core components as key areas for advancement [3] - The MRI equipment market is experiencing a favorable development phase driven by demand growth, policy encouragement, and technological innovation [3] Group 4: Technological Advancements - Jianxin Superconducting has developed a comprehensive core technology system, including electromagnetic field design, cryogenic technology, finite element analysis, structural design, intelligent control technology, and manufacturing processes [4] - The company has achieved significant advancements in superconducting technology, including the development of a fully helium-free superconducting magnet, recognized as the "first of its kind" in 2021 [5] Group 5: Financial Performance and Growth - Jianxin Superconducting has established strong partnerships with notable MRI equipment manufacturers, contributing to stable product demand and a robust sales channel [7] - The company's revenue has shown a consistent upward trend from 359 million yuan in 2022 to 425 million yuan in the first half of 2025, with net profits also increasing during the same period [7] - The company aims to raise funds through its IPO to enhance R&D and product innovation, focusing on projects such as the annual production of 600 helium-free superconducting magnets [8]

（编辑 楚丽君） 证券日报网讯 10月14日晚间，中邮科技发布公告称，基于公司经营管理需要，经董事会提名委员会审 议通过，董事会同意解聘尚德威先生的总经理职务，解聘后尚德威先生不再担任公司任何职务，解聘事 项自董事会审议通过之日起生效。 ...

近日，联影医疗举办2025年半年度业绩说明会。公司高管表示，围绕"诊疗一体化"战略，联影医疗持续 投入研发，当前在MR、CT、MI、XR、RT以及超声等重点业务领域均取得阶段性突破，多款创新产品 正加速进入临床与商业化阶段。 首先在超声领域，公司战略定位清晰，致力于为全球医疗机构提供"全覆盖、高性能、数智化"的临床超 声产品与解决方案，并实现全面自主可控。公司在高性能成像平台、传感器核心技术、智能成像算法及 临床工作流优化等方向持续攻关，已构建可扩展的超高通道硬件平台与智能化软件平台，形成从超高端 到中端、便携及无线掌上设备的完整产品矩阵，覆盖主要临床场景。 此外，联影医疗计划于今年年底至明年初陆续推出全线超声新品，并面向国内外市场发布。未来将通过 强化与顶级医疗机构的合作，深化科研应用示范，提升品牌影响力和全球市场竞争力。 2025年，公司推出新一代uMI Panvivo，采用可拓展长轴设计，进一步提升系统性能与临床适应性，已 在北美和欧洲市场获得积极反响。随着创新诊疗药物的发展及PET/MR的临床普及，分子影像业务将持 续放量，成为公司高端影像增长的重要引擎。 在XR领域，公司提供全场景、多层次影像解决方 ...