香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何 責任。 UNISOUND AI TECHNOLOGY CO., LTD. 本公告乃由雲知聲智能科技股份有限公司（「本公司」）自願作出，旨在知會本公司股東 及潛在投資者有關本公司的最新業務發展情況。 近日，本公司憑藉醫療領域專家級大模型「山海‧知醫大模型」的領先技術優勢，大數據 治理等全棧服務能力，以及對醫保行業政策法規、業務特點的深刻理解，成功牽手江蘇 省醫保局、石家莊市衛健委和鄭州市金水區衛健委，在醫保垂直大模型、區域醫療質量 管理與醫院信息智能化建設等領域達成深度合作，總合作金額超過人民幣2,000萬元。 以上合作既彰顯了本公司在醫療數智化領域的技術實力與服務能力，實現了醫療大模 型應用場景從單一場景延伸至全流程管理體系，從單點醫院合作升級為區域化整體服 務，同時，也標誌著本公司大模型服務已從應用系統輸出，全面進階為更底層、更核心 的模型能力輸出，為醫保行業智能化、精細化升級提供深度技術支撐。 自深度服務於我 ...

针对上述提问，万达信息回应称："感谢您对万达信息的关注。万达信息垂类大模型聚焦医疗健康领 域，可运用于辅助医疗和公共卫生等多个场景。精准健康认知计算系统——灵素融入OCR和大模型能 力，可以提供多项检后健康管理智能服务，包括体检报告的识别检测、报告解读及健康干预。白泽晓医 疗大模型结合医疗公卫、健康管理等服务需求，在实时知识问答、事件与病历内容理解、多模态病历生 成、辅助诊疗决策及专病健康管理等各类应用场景创新赋能，有面向B端和C端的应用，目前已在多家 医院试点使用。" 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。 有投资者在互动平台向万达信息提问："近期阿里旗下的蚂蚁阿福热度很高，成为下载榜前列，公司医 疗大模型与蚂蚁阿福水平相比如何？是否通过中国人寿嵌入其app或者单独也推出一个面向大众的 app？" 来源：市场资讯 ...

2025年12月，在上海人工智能研究院打造的国内权威中文医疗大模型评测体系MedBench4.0中，本公司 在医疗智能体、大语言模型和多模态大模型中分别取得94.6分、65.7分、59.6分的优异成绩，一举包揽 了医疗大模型全部三项技术范式第一，用实力打造行业标杆。而在国家人工智能应用中试基地(医疗)‧浙 江发布的《MedAIBench测评榜(优秀国产医疗大模型)》中，公司医疗大模型凭藉紮实的技术积累荣耀 登榜，彰显AI医疗垂域硬核实力。 公司医疗大模型已在众多三甲医院实现规模化落地应用，并在临床辅助诊疗等专业要求极高的场景与三 甲医院合作完成技术验证，其技术能力与医疗行业规范、临床实际需求深度适配，充分彰显其临床实用 价值与行业适配性。 格隆汇12月22日丨云知声(09678.HK)公布，近日，公司发布医疗领域专家大模型「山海‧知医大模型 5.0」版本("医疗大模型")，构建「医学文本大模型+医学多模态大模型」双核心产品体系，全面覆盖文 本处理、智能体协同、多模态感知等核心能力，整合医学知识问答、临床任务规划、影像解析等多元功 能，形成当前业界能力维度最丰富的医疗AI技术支撑体系之一。医疗大模型能够深度模拟 ...

华福证券 团队成员 分析师： 赵月(S0210524050016) zy30563@hfzq.com.cn 相关报告 1、消费与医疗周报——中国医械监管"双轨"新 纪元：全周期责任体系深化与全球创新催化剂共 振——2025 2、从政策优化到价值发现：医药产业升级下的投 资新机遇——2025 3、如何看待美股回调？——2025 2025 年 12 月 20 日 医疗与消费周报——技术驱动医疗智能化，数据 重塑服务新生态（2025.12.15-2025.12.19） 投资要点： ➢ 近期观点 1、医药指数本周关注 4 个子行业录得正收益，2 个子行业录得负 收益。 2、中国互联网医疗市场正处高速扩张期，2024 年整体规模已破千 亿，AI 精准医疗细分赛道增长尤为显著。政策体系持续完善，推 动"互联网+医疗健康"与 AI 技术向临床深度整合。技术驱动下， 医疗大模型与多模态数据融合正推动服务模式向个性化、全周期 健康管理演进。与此同时，数据安全合规、算法可靠性成为关键挑 战与未来发展的核心命题。 ➢ 风险提示 合规监管风险；数据与算法安全；资源与认知失衡风险 证 券 研 究 报 告 诚信专业 发现价值 1 请务必 ...

编者按： 岁末将至，站在2025年的时间节点回望，技术浪潮的奔涌、消费需求的变迁、商业模式的迭代，构成了全新的商业图景。连线Insight推出年终 盘点专题系列，试图捕捉不同企业在这幅变局图景中，如何应对挑战、抓住机遇。本期为第一篇，关注大健康行业。 当人们谈论"健康"，人们究竟在谈论什么？ 是体检报告上的指标，是一种远离医院的生活状态，还是一个能随时解答焦虑AI医生。 如今的大健康行业，所有参与者都在试图重新定义这个问题的答案。 在中国，20万亿元级的大健康市场正处于数字化、智能化转型的关键期。不仅有蚂蚁、京东等互联网企业布局，还有平安好医生、北电数智等企业入场。 这是需求推动的结果。过去几十年来，我国建立起全球最为庞大的医疗系统和医保体系。但随着我国人口老龄化加剧，看病难、看病贵等问题带来的供需 缺口进一步加大，也推动大健康行业进入新的阶段。 曾经跑马圈地的流量争夺赛早已落幕，一场围绕用户心智的精准角逐已然开启。一个确定性的行业共识时，行业未来的领跑者，是具备医疗生态整合能力 的全能型选手，即能利用技术和资源为患者提供普惠的医疗解决方案。 这背后，医疗大模型的规模化落地成为关键引擎，大模型赋能千行百业，百 ...

近日，杭州全诊医学科技有限公司（以下简称 "全诊医学" ）正式宣布完成数千万元B+轮融资。本轮融资 由 普华资本 领投， 常金控 和 杭州人才基金 跟投， 探针资本 担任独家财务顾问。所筹资金将投入核 心产品"全诊医学大模型及临床应用"的深度研发，加速面向医院和医生的合作推广，并启动海外市场 拓展计划。 此次融资是全诊医学约一年时间完成的第三轮融资，不仅刷新了国内医疗大模型企业融资速度纪录，也 清晰展现了资本市场对医疗AI的关注重点，已从单纯的技术竞速转向了对商业化落地能力与临床实际价 值的深度考量。 # 公 司简介 ： 从 临 床 医 生 到A I 创 新 者 全诊医学成立于杭州，是中国最早专注医疗大模型后训练与临床落地的创新企业之一。公司以"让AI增强医生 能力"为核心使命，长期致力于在医疗文书自动化、临床决策支持、患者服务等关键场景实现AI的系统化赋 能。 公司创始人 薛翀博士 拥有"临床医生+AI研究者"的双重背景。他毕业于中国医学科学院北京协和医学院，曾 在浙江大学医学院附属第二医院任职泌尿外科医生，并在美国约翰·霍普金斯大学医院从事人工智能与机器人 外科手术研究。这一跨界经历使他深刻理解AI在医疗 ...

Core Insights - The event "2025 Shenzhen International High-Performance Medical Device and Innovative Pharmaceutical Exhibition Hong Kong Station" focuses on the theme "Innovative Drugs and Devices, Collaborative Win-Win" and aims to deepen cross-border cooperation in the pharmaceutical and medical device sectors between Shenzhen and Hong Kong [1] Group 1: Event Overview - The event is guided by multiple health and regulatory bodies from Shenzhen and Hong Kong, featuring a "conference + exhibition" model to explore cutting-edge technology trends and collaborative development measures [1] - Over 300 representatives from more than 120 enterprises, universities, and research institutions participated, showcasing significant medical devices and innovative pharmaceutical products [4] Group 2: Expert Contributions - Notable experts shared insights on various topics, including the application prospects of infrared fluorescence imaging in precision medicine and global trends in digital healthcare [2] - The discussions highlighted the importance of industry-academia-research collaboration for innovation [2] Group 3: Collaborative Achievements - A series of landmark collaborative achievements were announced, including the launch of the GCOG precision treatment clinical trial and the establishment of a collaborative platform for international clinical trials in the Greater Bay Area [3] - Several partnerships were formed in key areas such as cell gene therapy and drug development, aiming to create a "research-application" integration platform and an international service network [3] Group 4: Innovation Showcase - The event featured high-performance medical devices such as surgical robots and automated immunoassay analyzers, demonstrating the industrial strength and innovative vitality of the Shenzhen-Hong Kong region [4] Group 5: Future Development - The forum focused on themes like cell and gene therapy and opportunities in innovative drug and device development, providing intellectual support for industry growth [5] - The event serves as a model for soft connectivity in the Greater Bay Area's pharmaceutical and medical device industry, promoting a new model of industrial linkage between Shenzhen and Hong Kong [5]

Core Viewpoint - In the context of ongoing adjustments in the Hong Kong stock market, Yidu Tech (02158) has demonstrated its intrinsic value and management confidence through a series of solid buyback operations and significantly improved interim performance [1] Group 1: Buyback Operations - On December 9, Yidu Tech announced a buyback of 345,000 shares at a price of HKD 5.15 per share, totaling approximately HKD 1.78 million [1] - The company has implemented buybacks for five consecutive trading days, accumulating around 1.42 million shares with a total expenditure exceeding HKD 7.3 million [1] Group 2: Financial Performance - For the interim report of the fiscal year 2026, Yidu Tech reported total revenue of RMB 358 million, representing a year-on-year growth of 8.7% [1] - The adjusted EBITDA for existing business reached approximately RMB 54 million, doubling compared to the same period last year, with the company nearing breakeven on its financial statements, achieving this milestone about a year ahead of management's original expectations [1] Group 3: Market and Industry Trends - According to Guosen Securities, the short-term adjustment in the Hong Kong stock market provides space for recovery in 2026, with the US dollar index expected to weaken in early 2026, benefiting the valuation recovery of emerging markets [1] - The AI sector remains a key focus for 2026, driven by the need for accelerated domestic hardware production and the anticipation of more AI applications, with companies increasingly utilizing AI to enhance labor productivity [1] Group 4: Company Positioning in AI Healthcare - Yidu Tech operates in the AI healthcare sector, which is one of the most barrier-rich and demand-driven core scenarios in the "AI empowering various industries" landscape [1] - The company's medical large model technology has entered a new phase of "multiple blooming and large-scale implementation," evidenced by three dimensions: deep application in over 30 top-tier hospitals, significant accuracy improvements in TNM staging assessment, and the integration of expert clinical experience through digital avatars of doctors [1]

Core Insights - Hippocratic AI, an AI healthcare startup, has achieved a valuation of $3.5 billion (approximately 249 billion RMB) after raising $126 million in its latest funding round, marking a doubling of its valuation in less than a year [2][3] - The company focuses on developing non-diagnostic AI solutions to address global healthcare resource shortages, with applications in patient communication, information collection, and follow-up [2][12] Funding and Growth - Since its inception in May 2023, Hippocratic AI has completed multiple funding rounds, raising over $400 million in total [3] - The latest funding round (C round) took place in November 2025, raising $126 million, led by prominent investors including Andreessen Horowitz and General Catalyst [5] - The company has established partnerships with over 50 large healthcare systems and pharmaceutical companies across six countries, completing over 115 million clinical patient interactions without safety issues [7][18] Product and Technology - Hippocratic AI's core technology is a medical-specific large language model named Polaris, designed to ensure safety and practicality in patient interactions [12] - The company has launched a "Healthcare AI Agent App Store," allowing healthcare professionals to create and customize AI applications without programming knowledge, with over 1,000 non-diagnostic medical scenarios covered [17] - The AI agents have demonstrated high reliability, achieving a clinical evaluation accuracy rate of 99.38%, significantly surpassing the average of 81% for registered nurses in the U.S. [15] Market Position and Strategy - The company targets non-diagnostic patient communication tasks, such as pre-operative preparation and chronic disease management, effectively replacing traditional medical call centers [17] - The business model operates on a usage-based SaaS subscription, with costs approximately one-fourth of traditional human services, and high patient satisfaction ratings [17] - The global AI healthcare market is transitioning from concept to value realization, with a focus on addressing specific, measurable problems that meet regulatory requirements [21]

Group 1 - The core viewpoint of the news is that Yidu Technology (2158) is demonstrating strong growth and operational efficiency, as evidenced by its recent share buybacks and positive financial performance [1][2] - The company repurchased 181,000 shares at an average price of HKD 5.15, totaling over HKD 930,000, marking a continuous buyback trend with a cumulative amount nearing HKD 3 million [1] - For the fiscal year 2026, Yidu Technology reported total revenue of RMB 358 million, reflecting an 8.7% year-on-year growth, with adjusted EBITDA reaching approximately RMB 54 million, doubling from the previous year [1] Group 2 - The management highlighted that the AI medical model technology has entered a new phase of "multi-point blossoming and large-scale landing," with significant deployments in over 30 top-tier hospitals [2] - The AI tool "Copilot" is being utilized nearly 1,000 times daily in individual hospitals, integrating into actual workflows [2] - The diagnostic accuracy of the TNM staging assessment tool has improved significantly, with T-stage accuracy rising from 58% to 90%, reaching the level of chief physicians [2] Group 3 - Capital market analysts are optimistic about Yidu Technology, with Everbright Securities noting breakthroughs in AI medical innovation and the establishment of a "data + algorithm + scenario" closed-loop system [2] - Citigroup maintained a "Buy" rating for the company with a target price of HKD 10, recognizing its core competitiveness and growth potential in the AI healthcare sector [2] Group 4 - As of the latest market close, Yidu Technology's stock price was HKD 5.15, reflecting a 0.98% increase [3]