学分会常委兼秘书长王占山致辞 5月7日下午，《慈铭北京·2024年度健康体检大数据蓝皮书》暨健康管理创新产品发布会在慈铭大厦召 开。 会上，慈铭体检与中关村美年健康产业研究院、北京晚报联合发布《慈铭北京·2024年度健康体检大数 据蓝皮书》（以下简称《蓝皮书》），通过持续追踪区域人群健康趋势，期望为公共卫生研究提供动态 观测窗口，为医疗机构优化疾病筛查路径提供参考基准，助力公众提升健康风险认知水平。现场还发布 了体重管理、血糖管理、"磁控胶囊胃镜系统"机器人PRO升级版三款健康管理创新产品。通过智能技术 赋能与定制化服务体系的深度融合，构建差异化解决方案，为公众提供更具针对性、高效性的健康管理 工具，助力提升全民健康素养。 中华医学会健康管理学分会常委兼秘书长王占山、北京健康管理协会会长高小俊、北京医学会健康管理 分会候任主委王鹏出席活动并致辞。 美年健康集团总裁、慈铭集团总裁徐涛致辞并发布《蓝皮书》，慈铭集团副总裁、营销中心总经理郭征 对三款健康管理创新产品做了详细讲解。 据徐涛介绍，《蓝皮书》研究数据来源于慈铭体检2024年度北京市19家体检中心的健康体检数据，纳入 分析的人群样本量为113.46万，聚焦 ...

Core Viewpoint - Beijing University, celebrating its 127th anniversary, has played a pivotal role in China's intellectual and technological advancements, producing numerous influential figures in various fields, including technology, medicine, and investment [1][2][4]. Group 1: Historical Contributions - Beijing University has been a beacon of enlightenment and national rejuvenation since its inception, promoting values of patriotism, progress, democracy, and science [1]. - The university has been instrumental in significant historical movements, such as the May Fourth Movement and the development of key technologies like nuclear physics and space exploration [1]. - Notable alumni include pioneers in various fields, such as nuclear physicist Yu Min, and Nobel laureate Tu Youyou, showcasing the university's impact on global scientific advancements [1]. Group 2: Influence in the Digital Age - In the digital era, Beijing University has produced influential entrepreneurs like Baidu's founder Robin Li and NIO's founder Li Bin, who have made significant contributions to their respective industries [2][3]. - The university's alumni are also prominent in the venture capital sector, with figures like Li Wei and Wang Qiang leading investment firms that support innovation and entrepreneurship [2]. Group 3: IPO and Investment Activities - The university's alumni continue to make waves in the stock market, with notable IPOs such as Shengke Nano, led by alumnus Li Xiaomin, marking significant milestones for Jiangsu province [4][6]. - Other alumni-led companies, like Tudatong and Naxin Micro, are also pursuing IPOs, indicating a strong presence of Beijing University graduates in the capital markets [7][8]. Group 4: Venture Capital Initiatives - Beijing University has established various funds and initiatives to support technology transfer and innovation, including the Yuanpei Fund and Yan Yuan Venture Capital, aimed at fostering early-stage startups [15][16][17]. - The university's efforts in creating a robust innovation ecosystem are evident through partnerships with local governments and the establishment of incubators to support tech startups [20][21]. Group 5: Future Directions - The university is focused on enhancing its role in national modernization and innovation, with plans to further integrate research and commercialization efforts [18][22]. - The upcoming Yan Yuan International Innovation Competition and other initiatives aim to strengthen the university's position in the tech innovation landscape [21][22].

Core Viewpoint - Meinian Health has reported strong growth in its AI-driven healthcare services, with Q1 2025 revenue reaching 1.754 billion yuan, including over 54 million yuan from AI technology, marking a 71.76% increase year-on-year, indicating a significant shift from technological exploration to large-scale application in the "AI + healthcare" model [1] Group 1: AI Empowerment in Health Management - Meinian Health's core strategy revolves around "AI + healthcare," transforming the entire health check process into an intelligent service system, covering pre-examination, examination, and post-examination stages [1] - In the pre-examination phase, AI technology customizes health check packages based on individual and group client data, ensuring precision and relevance in health assessments [2] - During the examination, the company has implemented intelligent management tools that enhance customer experience and facilitate seamless transitions from routine screenings to precise diagnostics [2] - Post-examination services leverage AI systems like "Health Xiaomei" to provide personalized health management, with significant improvements in report accuracy and processing efficiency [2] Group 2: Innovation and Competitive Advantage - Meinian Health focuses on building eight core disciplines, utilizing AI to create unique competitive barriers, particularly in ultrasound technology [3] - The company has introduced specialized AI products for various health management areas, enhancing screening efficiency and promoting systematic solutions for early detection [4] - Innovative screening models, such as the "CT One Scan Multiple Checks" system, integrate multiple assessments into a single examination, significantly improving efficiency [4] Group 3: Expansion of Post-Examination Market - The company is transitioning from traditional health check services to comprehensive lifecycle health management, activating deeper individual client needs through innovative operational strategies [5] - Meinian Health is enhancing customer engagement by providing a one-stop solution that includes health checks, specialized examinations, health management, and insurance [6] Group 4: Industry Impact and Future Outlook - Meinian Health is evolving from a health check service provider to an AI health management solution platform, establishing a dual engine for performance growth through specialized early screening products and intelligent health management [7] - The company aims to leverage AI technology to expand into trillion-level markets, focusing on senior health, health management, and data elements, positioning itself as a leader in the digital health management era [8]

Group 1: Fund Overview - Chunhou Lijia Mixed A Fund, established on July 29, 2022, has a total management scale of 0.02 billion yuan [1] - The fund aims to create stable returns exceeding the performance benchmark through asset allocation while strictly controlling risks and maintaining liquidity [1] - As of April 25, 2025, the fund achieved a one-year return of 10.25%, outperforming the benchmark growth rate of 4.93% and the CSI Mixed Fund Index return of 6.33% [1] Group 2: Shareholder Structure - The proportion of institutional investors in the fund reached 9.64%, increasing by 9.64 percentage points over six months [1] - Fund employees hold 85.21% of the shares, totaling 855,500 shares [1] Group 3: Industry Insights - The semiconductor industry is experiencing rapid growth, driving a surge in demand for semiconductor testing and analysis [2] - The third-party laboratory testing and analysis market in the semiconductor sector has significant growth potential, with the Labless model gaining industry recognition [2] - Continuous R&D investments, driven by advancements in semiconductor technology, are expected to sustain the growth of third-party testing and analysis demand, particularly in advanced processes [2] Group 4: Company Service and Sales Model - The company employs a production model based on sales, implementing order-based production tailored to customer needs [2] - It focuses on quality and efficiency in testing services, continuously optimizing production processes to enhance service quality [2] - The sales model is direct, allowing the company to provide personalized testing solutions and respond promptly to customer needs [2] Group 5: Competitive Advantages - The company has a technological R&D advantage, with capabilities covering advanced processes up to 3nm, positioning it among industry leaders [2] - It holds a strong market position in the third-party testing and analysis market, with significant revenue scale and market share [2] - The company is recognized as a national-level "little giant" and has established a strong brand effect within the industry [2] - The technical team comprises individuals with experience from top institutions and global semiconductor firms, enhancing the company's technical strength [2] - The company has a unique international advantage with laboratories in both China and Singapore, differentiating it from domestic competitors [2] Group 6: Future Development Plans - The company plans to leverage its technical talent and maintain high R&D investment to capitalize on domestic semiconductor development opportunities [2] - It aims to enhance its analytical capabilities in advanced processes, packaging, high-performance chips, and third-generation semiconductor materials [2] - The company will expand its focus on failure analysis and reliability analysis for automotive-grade chips while exploring new fields like aerospace and biomedicine [2] - It intends to broaden its customer reach through a multi-point domestic layout and standardize laboratory replication to accelerate business expansion [2]

Core Insights - Jin Yu Medical (金域医学) reported a significant decline in revenue, with a 15.81% year-on-year decrease, resulting in total revenue of 7.19 billion yuan for 2024 [5][7] - The company faced challenges with accounts receivable, which accounted for 42.39% of total assets, amounting to 4.396 billion yuan [7] - Other medical companies, including Meinian Health (美年健康), He Shi Eye Hospital (何氏眼科), and BGI Genomics (华大基因), also reported declines in revenue and net profit, indicating a broader trend in the industry [5][13] Financial Performance - Jin Yu Medical's net profit for 2024 was -381 million yuan, a decrease of 159.26% compared to the previous year [5] - BGI Genomics reported a revenue of 3.867 billion yuan, down 11% year-on-year, with a net profit of -903 million yuan [5][13] - Meinian Health's data resource entry amounted to 9.352 million yuan, with a focus on developing health management products [15] Data Resource Integration - Jin Yu Medical disclosed data resource integration amounting to 7.0083 million yuan, with 3.3544 million yuan classified as development expenses and 3.6538 million yuan recognized as intangible assets [1] - BGI Genomics led the industry with a data resource entry of 9.6217 million yuan, primarily from external data governance platforms [13] - He Shi Eye Hospital reported 905,100 yuan in data resources, all classified as self-developed intangible assets [14] Market Trends - The medical industry is increasingly focusing on data-driven precision medicine, with companies like BGI Genomics and He Shi Eye Hospital investing in comprehensive data management systems [13][14] - Jin Yu Medical is actively participating in the data circulation market, having launched 11 data products for trading and establishing a trusted data space in Guangzhou [9][10] - The trend towards integrating data resources into healthcare solutions is expected to continue, with companies exploring innovative applications in medical decision-making and patient care [14][15]

体检行业触底回升，银发经济催化市场结构性扩容，公司龙头地位多维夯实，打造银发经济服务闭环。 随着人口老龄化加速、慢性病管理需求激增，叠加《"十四五"健康老龄化规划》政策红利释放，我国体 检行业迎来发展新周期。2012-2022年行业规模CAGR达15.06%，预计2030年将突破5,200亿元。公司依 托"参转控"模式实现区域资源高效整合，在行业集中度提升趋势下显现显著竞争优势。通过深度布局的 296座城市、576家实体服务网点网络，公司持续承接中小机构退出市场的份额转移，形成规模化发展优 势。在业务架构层面，聚焦老龄化市场需求，战略性布局脑睿佳、心脑血管早筛、肿瘤标志物检测等银 发刚需项目，构建"预防筛查-健康管理-医疗转介"全链条服务体系。2024年度累计完成2,512万人次体检 服务，通过高毛利检测项目的组合优化，实现客单价同比提升8.25%至672元。 渠道增量与数据资产协同发力，构建第二增长曲线。公司坚持"保质、增收、提效、降本"的主线，以医 疗导向和服务品质为核心，深入挖掘客户需求，通过多渠道营销拓展线上线下客户，持续优化客户结 构。通过"网格化下沉+生态化延伸"开辟新增长空间：线下渠道端，实施" ...

证券研究报告·公司点评报告·医疗服务 美年健康（002044） 2024 年报点评：AI 营收初具规模，19 家机 构参变控增厚业绩 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 10,894 | 10,702 | 11,587 | 12,432 | 13,339 | | 同比（%） | 26.44 | (1.76) | 8.27 | 7.29 | 7.30 | | 归母净利润（百万元） | 505.62 | 282.24 | 629.21 | 911.79 | 1,124.91 | | 同比（%） | 190.45 | (44.18) | 122.94 | 44.91 | 23.37 | | EPS-最新摊薄（元/股） | 0.13 | 0.07 | 0.16 | 0.23 | 0.29 | | P/E（现价&最新摊薄） | 41.03 | 73.50 | 32.97 | 22.75 | 18.44 | [T ...

事件： 4 月14 日晚，美年健康发布公告，拟通过发行股份的方式购买交易对方持有的衡阳美年84.00% 股权、宁德美年81.00%股权、烟台美年75.00%股权、烟台美年福田49.00%股权、武汉奥亚52.81%股 权、三明美年85.00%股权、肥城美年90.00%股权、南宁美元康69.86%股权、德州美年84.00%股权、安 溪美年72.90%股权、连江美年82.00%股权、沂水美年80.50% 股权、山东奥亚92.35%股权、厦门银城美 年 81.00%股权及控股子公司郑州美健47.37%少数股权、花都美年49.00%少数股权、安徽美欣42.46%少 数股权、淄博美年49.00%少数股权、吉林昌邑美年48.05% 少数股权。合计19 家体检机构，此次交易完 成后，上市公司将直接及间接持有包括衡阳美年在内的18 家体检机构100.00%及安溪美年90.00%股权。 由于标的公司的审计、评估工作尚未完成，本次交易的具体交易价格尚未确定。 盈利预测与估值：由于收购的机构经营业绩尚未审计，并表时间也尚不明确，暂不调整上市公司盈利预 测。公司2024-2026 年营业收入预期分别为105.99、116.14、127 ...

以下文章来源于RimeData 来觅数据 ，作者来觅研究院 RimeData 来觅数据 . 全面的一级市场数据平台 ⌜ 投融概况 ⌟ 截至2025年03月28日18:00，本周融资事件共75起（不包括并购、定增），较上周增加了12起，融资金额总计约87.45亿元（谨慎估计），较上周增加了 47.42亿元。在所有融资事件中，融资金额在亿元及以上的融资事件有24起，较上周增加10起。本周公开退出案例35个，较上周减少5起。另外，本周有99 家机构参与了一级市场投资，较上周增加了28家。 请读者留意，本周有13起融资事件未公布准确的融资金额，出于谨慎考虑，笔者做了暂取较小值处理，涉及金额至少4.90亿元，约占融资总额的5.60%。 另外，因融资事件的延迟披露，本期周报仅收录了本周五18:00前公开披露的融资事件，可能导致统计分析与实际情况存在细微偏差，感兴趣的读者可以 登录Rime PEVC平台获取全量融资事件、被投项目及深度数据分析。 本周已披露金额的融资事件53起，较上周增加了9起，融资金额区间分布结构较上周前移明显。本周500万以下的融资事件为4起，与上周持平；500 万-1000万（含1000万）融资事件合 ...