Group 1 - The core strategy of the company involves expanding its product pipeline in the pharmaceutical industry through "BD + independent research and development," while also focusing on merger and acquisition opportunities to inject new product resources and market channels into its pharmaceutical sector [1] - In the AI healthcare field, the company positions itself as "AI + scenarios," leveraging its extensive medical and elderly care scenarios to drive technological industry layout [1] - The company has fully integrated its hospitals with the DeepSeek platform, launching AI smart report interpretation and AI medical assistant applications, which enhance the efficiency of diagnosis and treatment processes [1] Group 2 - Recent performance indicates that for the first nine months of 2025, the company achieved a revenue of 2.256 billion yuan, a year-on-year decrease of 23.40%, and a net loss of 38 million yuan, with losses expanding by 167.83% year-on-year [2] - The company is accelerating its strategic layout in rehabilitation and elderly care robotics, while also exploring investment opportunities in upstream and downstream core technology enterprises [3] - The company primarily engages in the production and sales of pharmaceuticals, as well as hospital management and related businesses [3]

来源：苏州康养集团 近日，苏州康养产业股权投资合伙企业（有限合伙）正式通过中国证券投资基金业协会备案，标志 着该基金进入实质性运营阶段。苏州康养产业基金总规模10亿元，首期规模4.5亿元，由康养集 团、苏高新金控联合国投集团、城投集团、创元集团、苏创投等多家市、区级国资平台共同出资设 立。 据悉，该基金将紧密围绕康养产业发展趋势与老年群体需求，重点投资于康养科技、康养人工智 能、康养先进制造、康养大健康及食品、保健、抗衰等产业项目，着力推动苏州康养产业体系构建 与价值链提升。基金将聚焦老年群体高频需求和苏州重点赛道优势，从优化养老服务模式、扩大银 发产品供给、推动产业强链补链、聚焦潜力产业领域、推动科学技术创新等方向系统布局，全面促 进银发经济高质量发展，助力增进老年福祉、培育经济发展新动能。 每日｜荐读 热文： 谁押中了沐曦股份？ 荐读： 2025募资市场年度观察：一年聊过239家LP的真实感受 荐读： 2025年IPO退出盘点：哪些GP赚钱了？ 热文： 投资人"忙疯了" ...

Core Viewpoint - Xiamen International Trade has shifted its focus towards the health technology sector after divesting from real estate, aiming to accelerate its development through mergers and acquisitions in the healthcare technology field [1][4]. Financial Performance - In the first half of 2025, Xiamen International Trade reported a revenue of 151.66 billion, a year-on-year decrease of 22.31%, and a net profit attributable to shareholders of 5.23 billion, down 37.62% [2][3]. - The supply chain management business generated 151.09 billion in revenue, with a gross margin of 1.26%, reflecting a 22.36% decline year-on-year [2][3]. - Other business segments contributed 0.24 billion in revenue, with a gross margin of 15.52%, marking a 57.57% decrease year-on-year [2][3]. - The health technology segment achieved a revenue of 5.44 billion, with a gross margin of 39.63%, down 2.62% year-on-year [2][5]. Business Strategy - The health technology segment focuses on medical devices, particularly in minimally invasive surgery, and aims to create a comprehensive service platform centered on supply chain distribution [4][5]. - The company is enhancing its elderly care services, emphasizing community and home-based care, and is developing an integrated service system that includes medical, health, and rehabilitation services [4]. - As the sole authorized health data operator for the Xiamen government, the company is building a medical big data technology platform to serve various stakeholders [4]. Recent Developments - In June 2023, Xiamen International Trade acquired Beijing Paiter Medical Technology Co., which specializes in minimally invasive surgical solutions, contributing to the health technology segment's revenue growth [5]. - Paiter Medical reported a revenue of 5.84 billion in 2024 and 2.62 billion in the first half of 2025, with net profits of 910.22 million and 556.60 million respectively [5].