为深入践行"数字中国"战略、服务"数字重庆"建设大局，三峡医院在院党委高位统筹下，以数据资产化赋能医疗高质量发展为主线，历时八个月系 统攻坚，在全市率先实现医疗数据资产化关键性突破。 医院的NUT癌临床特征与诊疗关联数据集、慢性乙型病毒性肝炎诊疗全周期多维度数据集、食管早癌多模态临床诊疗数据集，成功获颁北京国际大 数据交易所3张《数据资产登记证书》—— 这是西部首次3个病种同时获批医疗领域数据资产登记证书，标志着重庆在医疗数据要素市场化改革中率 先迈出从"理论探索"到"实践落地"的实质性步伐。 作为全国首批医疗数据资产登记标杆案例，此次突破的核心价值在于构建起"治理-合规-登记-确权-入表"全流程闭环。年初，紧扣"数字重庆"建设部 署要求，医院党委书记张先祥率先提出"聚焦数据，在有效治理上下功夫"的工作思路，为项目定向领航。同步在院党委前瞻领导下，牵头整合运营 管理部（负责牵头统筹）、信息数据部（负责技术支撑）、财务部（负责资产核算）等核心力量，组建数据治理办公室，建立"跨部门协同、全链条 推进"工作机制；并精准引入中城万企（中企数研院）专业团队，形成"院内统筹+外部赋能"的专业化攻坚格局，为数据资产化全流程 ...

Core Viewpoint - The company has entered into a strategic framework cooperation agreement with the People's Government of Qingyang City, Gansu Province, and its incubated medical imaging AI company, Shanghai Yinghe Medical Technology Co., Ltd. This collaboration aims to establish a shared medical imaging center and a healthcare data space, enhancing regional medical resource integration and efficiency [1]. Group 1 - The strategic cooperation will focus on building a regional shared imaging diagnostic center and a digital platform to effectively integrate medical resources [1]. - The initiative aims to provide standardized and high-quality medical imaging services to local medical institutions [1]. - The collaboration will promote the construction of a medical information platform, addressing issues such as data silos and redundant examinations, thereby improving resource utilization efficiency [1]. Group 2 - The board believes that this strategic cooperation will enhance the company's ability to integrate and govern regional medical resources [1]. - The partnership is expected to expand the company's market presence in the northwest region of China [1]. - The initiative aligns with the overall interests of the company and its shareholders by broadening the footprint of shared medical imaging centers [1].

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所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 Jiangxi Rimag Group Co., Ltd. 江西一脈陽光集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：2522) 自願公告 與慶陽市政府及影禾醫脈訂立戰略框架合作協議 本公告由江西一脈陽光集團股份有限公司（「本公司」，連同其附屬公司統稱「本集 團」）董事（「董事」）會（「董事會」）自願作出，以知會本公司股東及潛在投資者本 集團最新的業務發展狀況。 董事會欣然宣佈，本公司近日與甘肅省慶陽市人民政府（「慶陽市政府」）以及本公 司孵化的醫學影像人工智能公司上海影禾醫脈智能科技有限公司（「影禾醫脈」）訂 立戰略框架合作協議。根據該戰略框架合作協議，三方擬就建設共享醫學影像中 心、影響雲索引互聯互通互認平台和醫療健康可信數據空間開展戰略合作（「戰略 合作」）。戰略合作將通過建設區域共享型影像診斷中心與數字化平台，有效整合 醫療資源，為當地醫療機構提供標準化、高質量的醫學 ...

Core Insights - The company is a leading third-party medical imaging service platform in China, entering a performance recovery phase with a revenue of 467 million yuan in the first half of 2025, representing a year-on-year growth of 12.9% [1] - The revenue from imaging solutions reached 161 million yuan, showing a significant increase of 88.9%, and its revenue contribution rose to 34.5% [1] - The net profit attributable to the parent company was 16 million yuan, reflecting a substantial year-on-year growth of 328.1% due to active cost control and efficiency improvements [1] Business Model and Infrastructure - The company has established a nationwide imaging center network with 115 operational centers across 17 provinces, creating multiple barriers such as equipment, licenses, and brand resources [1] - The imaging centers serve as both a revenue stabilizer and a primary production site for high-quality structured imaging data, facilitating data assetization and AI training [1] Data Assetization and AI Development - The company has accumulated a high-quality medical imaging database covering over 200 disease types and more than 10 million cases, with a daily addition of 20,000 to 30,000 structured data entries [1] - It has successfully explored the full process of "data resources → data assets → data trading," with multiple imaging data products listed and traded on data exchanges [1] - The company has launched a full-modal, full-process medical imaging foundation model (MIIA) and AI-assisted diagnostic products (AIR), achieving leading results in image understanding and report generation [1] Financial Projections - Revenue projections for 2025-2027 are 1.05 billion, 1.39 billion, and 1.68 billion yuan, with year-on-year growth rates of 38.1%, 32.2%, and 21.2% respectively [2] - Net profit estimates for the same period are 25 million, 60 million, and 105 million yuan, with significant growth rates of 137.7% and 76.5% in 2026 and 2027 [2] - The company is expected to achieve an EBITDA of 236 million, 282 million, and 341 million yuan, with year-on-year growth rates of 43.0%, 19.5%, and 20.9% [2] Valuation and Investment Rating - Given the company's leadership position in the third-party medical imaging industry and its future potential as a medical data asset operator, a target market capitalization of 11.11 billion yuan is projected, corresponding to a target price of 30.4 HKD [2]

Core Viewpoint - The company, Yimai Sunshine (02522), has seen a stock price increase of over 6% during trading, attributed to its recent investment in Shanghai Yinghe Medical Technology Co., Ltd. This strategic move aligns with its long-term development plan in the medical imaging field [1]. Group 1: Investment and Strategic Moves - The company has entered into a capital increase subscription agreement with Yinghe Medical, investing nearly 100 million RMB to subscribe to the new registered capital [1]. - Following this transaction, the company's total equity stake in Yinghe Medical will further increase, enhancing its strategic position in the medical imaging AI sector [1]. Group 2: Industry Position and Data Assets - Yimai Sunshine is recognized as a leading third-party medical imaging service platform in China, with a synergistic approach across its imaging center services, imaging solutions, and Yimai Cloud businesses [1]. - The company has developed a high-quality medical imaging database covering over 200 disease types and more than 10 million cases, with an average of 20,000 to 30,000 new structured data entries daily [1]. - Yimai Sunshine has successfully completed the full process exploration of "data resources - data assets - data transactions," with multiple imaging data products listed and traded on data exchanges [1].

Core Viewpoint - The company, Yimai Sunshine (02522), has seen a stock price increase of over 6% during trading, currently up 4.18% at HKD 17.95, with a trading volume of HKD 178 million. This is attributed to the recent signing of a capital increase subscription agreement with Shanghai Yinghe Medical Technology Co., Ltd. [1] Group 1: Company Developments - The company has entered into a capital increase agreement to subscribe to nearly RMB 100 million of new registered capital in Yinghe Medical Technology, which will enhance its equity stake in the company [1]. - This capital increase is a significant step in the company's strategy to implement a three-pronged approach in medical imaging AI, which includes medical imaging data, AI foundational models, and imaging center scenarios [1]. Group 2: Industry Position - Yimai Sunshine is recognized as a leading third-party medical imaging service platform in China, with a synergistic business model across imaging center services, imaging solutions, and Yimai Cloud [1]. - The company has developed a large-scale network of imaging centers, accumulating a high-quality medical imaging database covering over 200 disease types and more than 10 million cases, with a daily addition of 20,000 to 30,000 structured data entries [1]. - The company has successfully completed the full process exploration of "data resources - data assets - data transactions," with multiple imaging data products listed and traded on data exchanges [1].

Core Viewpoint - The report from Tianfeng Securities projects significant revenue and profit growth for Yimai Sunshine from 2025 to 2027, highlighting its leadership in China's third-party medical imaging industry and potential as a medical data asset operator [1] Group 1: Financial Projections - Expected revenues for Yimai Sunshine are projected at 1.05 billion, 1.39 billion, and 1.68 billion yuan for 2025, 2026, and 2027, representing year-on-year growth of 38.1%, 32.2%, and 21.2% respectively [1] - Net profits are forecasted to be 25 million, 60 million, and 105 million yuan for the same years, with 2026 and 2027 showing year-on-year growth rates of 137.7% and 76.5% [1] - EBITDA is anticipated to reach 236 million, 282 million, and 341 million yuan, with year-on-year increases of 43.0%, 19.5%, and 20.9% [1] Group 2: Business Model and Market Position - Yimai Sunshine is recognized as a leading third-party medical imaging service platform in China, with a focus on imaging center services, imaging solutions, and the Yimai Cloud, which are synergistically integrated [1] - The company achieved a revenue of 467 million yuan in the first half of 2025, marking a year-on-year increase of 12.9%, with imaging solutions revenue growing by 88.9% to 161 million yuan, accounting for 34.5% of total revenue [1] - The company has established a nationwide network of imaging centers, operating 115 centers across 17 provinces as of June 30, 2025, creating multiple barriers to entry through equipment, licenses, and resources [2] Group 3: Data Assetization and AI Integration - Yimai Sunshine has accumulated a high-quality medical imaging database covering over 200 diseases and more than 10 million cases, generating 20,000 to 30,000 new structured data entries daily [3] - The company has completed the full process exploration of "data resources - data assets - data trading," with several imaging data products listed and traded on data exchanges [3] - The company has launched the MIIA model and AI-assisted diagnostic products, achieving leading results in image understanding and report generation, establishing a closed-loop ecosystem driven by data [3]

Core Viewpoint - The company, Yimai Sunshine Group, is positioned as a leader in the medical imaging sector under China's "Healthy China" strategy, benefiting from policy support and focusing on both economic efficiency and social responsibility [2][5]. Group 1: Economic Efficiency and Innovation - Yimai Sunshine has redefined the development path of third-party medical imaging centers in China through a "shared model," establishing a strong competitive moat [2]. - The company is experiencing rapid growth, with revenue and profit entering a synchronized leap phase [2]. - Yimai Sunshine leverages AI technology to create a unique technical system with independent intellectual property rights, enhancing its competitive advantage [3]. - The AI medical imaging market in China is projected to reach 6.17 billion yuan by 2025 and 13.74 billion yuan by 2030 [3]. - The company has made significant strides in medical data assetization, ensuring data accuracy and security, and promoting the marketization of medical imaging data [3][4]. Group 2: Social Value and Healthcare Improvement - Yimai Sunshine aims to address the imbalance in medical resource distribution in China, focusing on empowering both patients and healthcare institutions [7]. - The company has established over 100 imaging centers nationwide, serving more than 500 institutions and achieving an annual scanning volume of over 10 million [7]. - By providing comprehensive support to partner hospitals, Yimai Sunshine enhances their diagnostic capabilities and operational efficiency [7][8]. - The company employs a dual-driven model, focusing on both patient services and empowering medical institutions, which has proven effective in maintaining long-term partnerships [7][8]. Group 3: International Expansion - Yimai Sunshine is expanding its international presence by leveraging cost advantages in hardware, labor, and data services [9]. - The company aims to replace low-experience local information systems overseas with its established cloud and AI platforms, enhancing the quality of medical services internationally [9].

Jiangxi Rimag Group Co., Ltd. 江西一脈陽光集團股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 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所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 本公告由江西一脈陽光集團股份有限公司（「本公司」，連同其附屬公司統稱「本集 團」）董事（「董事」）會（「董事會」）自願作出。 董事會欣然宣佈，2025 年 4 月 2 日，本公司的附屬公司北京一脈陽光醫學 信息技術有限公司（「北京一脈信息」）「C T胸部病變標注數據」（掛牌編號： 1571967301-YLIIIEJ5101）（「數據集」）正式通過上海數據交易所合規審核並成功 上架。這是本公司首批在上海數據交易所上架的數據集，也是繼本公司構建覆蓋 全國醫學影像數據生態鏈後，在醫療數據資產化領域的里程碑及突破，且標誌著 本公司以高質量的影像數據為紐帶，率先打通「數據生產及治理 － 算法和技術 － 場景賦能」的閉環，使醫學影像數據要素市場化進程邁入新階段，本公司也正在 逐步用 ...

Summary of Medical Data Circulation and Trading Conference Call Industry Overview - The conference call discusses the medical data industry in China, focusing on the circulation and commercialization of medical data assets, particularly in major hospitals in Beijing and other cities like Shenzhen and Shanghai [1][2]. Key Points and Arguments 1. **Expansion of Medical Data Trials**: In 2024, the Beijing Health Commission and Economic and Information Bureau will expand medical data trials to 22 major hospitals, promoting the assetization of medical data [1][2]. 2. **Challenges in Data Sharing**: Hospitals face challenges such as low levels of information technology and insufficient data demand. Solutions include improving IT infrastructure, clarifying data needs, and providing policy and financial support [1][3]. 3. **Policy as a Driving Force**: National policies are crucial for the circulation of medical data. The National Data Bureau actively promotes data sharing plans and encourages hospitals to open their data elements [1][2]. 4. **Demand for Specialized Data**: Hospitals prefer to trade representative specialized disease data, with demand typically driven by commercial value [1][4]. 5. **AI's Impact on Data Demand**: The development of AI in healthcare has significantly increased the demand for medical data, shifting focus from basic medical records to high-value data such as expert notes on complex cases [1][6]. 6. **Lack of Standard Pricing**: There is no unified pricing standard for medical data, which is usually based on asset valuation and costs associated with technical teams and data annotation [1][6]. 7. **Data Ownership Issues**: The issue of data ownership is a major barrier to commercial applications. Anonymization is key, as anonymized data can belong to hospitals, facilitating data circulation [1][12][16]. 8. **Successful Case Studies**: Successful data trading cases, such as the orthopedic data assetization by Jishuitan Hospital, demonstrate the potential for hospitals to monetize their data [2][5]. 9. **Regulatory Environment**: The regulatory environment is evolving, with Beijing providing clear guidelines for medical data transactions, encouraging innovation and pilot projects [4][21]. 10. **Collaboration Among Hospitals**: Hospitals are exploring collaborative models for data standardization and revenue sharing, which could serve as a benchmark for future projects [13][20]. Additional Important Insights - **Diverse Data Needs**: Different types of data, such as imaging and clinical data, are in demand, with top hospitals being preferred sources due to their quality and quantity of data [7][10]. - **Non-Exclusive Data Sales**: Data can be sold to multiple buyers unless there is an exclusivity agreement, which can increase the price [8]. - **Impact of Population Size**: China's large population provides a vast amount of high-quality medical data, which is advantageous for developing medical AI models [14]. - **Third-Party Collaborations**: Third-party companies can collaborate with hospitals to develop specialized AI models, provided they follow legal and compliance processes [22][23]. - **Future of Data Standardization**: Efforts are underway to standardize and connect medical data across regions, although challenges remain [11][30]. This summary encapsulates the key discussions and insights from the conference call regarding the medical data industry, highlighting the opportunities and challenges in data circulation and commercialization.