Core Viewpoint - MicroMile has submitted an IPO application to the Hong Kong Stock Exchange, aiming to raise funds primarily for enhancing AI capabilities, expanding full-course management services, and strategic investments in competitive healthcare companies [1] Company Overview - MicroMile is one of the top three full-course management service providers in China, and the largest patient-oriented AI-enabled full-course management service provider, according to its prospectus [1] - The company collaborates with 157 hospitals to provide full-course management services and has established dedicated management centers in each hospital, covering over 4,700 hospitals and medical institutions [1] Financial Performance - Revenue figures for MicroMile from 2022 to 2024 are as follows: 512 million yuan, 628 million yuan, and 653 million yuan, with gross profits of 88 million yuan, 118 million yuan, and a loss of 129 million yuan respectively [2] - The company reported losses of 414 million yuan, 150 million yuan, and 193 million yuan for the same years [2] - In 2024, revenue from full-course management services accounted for 72% of total revenue, while medical health product sales and insurance brokerage services contributed 19.4% and 8.6% respectively [2] Market Potential - The full-course management market in China is projected to grow from 16.3 billion yuan in 2020 to 61.4 billion yuan in 2024, with a compound annual growth rate (CAGR) of 39.3% [3] - By 2030, the market is expected to reach 365.4 billion yuan, with a CAGR of 34.6% from 2024 to 2030, indicating significant growth potential [3] Competitive Advantages - MicroMile's business model includes deep integration of medical resources, having signed contracts with 157 hospitals and linking with 4,700 institutions to create a closed-loop service covering 80 disease types and 500,000 patients [3] - The AI technology utilized in the CareAI platform enhances efficiency and reduces costs for hospitals through intelligent triage and health profiling [3] - The company offers tiered services tailored to specific scenarios, with single disease service prices exceeding 1,000 yuan, which is above the industry average [3] Future Outlook - The IPO is expected to provide MicroMile with additional funding to strengthen its business layout, expand its scale, and achieve profitability [3] - The company faces challenges in demonstrating its long-term profitability potential, especially in the context of investor skepticism towards high-growth, unprofitable companies in the Hong Kong market [3]

Core Viewpoint - 微脉公司 is seeking to go public on the Hong Kong Stock Exchange, focusing on AI-enabled healthcare services and full-cycle patient management, with significant growth potential in the healthcare management market in China [1][5]. Company Overview - 微脉 was founded in 2015 and is headquartered in Hangzhou, specializing in AI-driven healthcare services that connect hospitals, doctors, and patients [1]. - The company has partnered with 157 hospitals to provide full-cycle management services and has established management centers in each hospital [5]. Financial Performance - Revenue for 微脉 was approximately RMB 5.12 billion in 2022, projected to increase to RMB 6.28 billion in 2023 and RMB 6.53 billion in 2024, indicating a growth trajectory [2][3]. - The company reported losses of RMB 4.14 billion in 2022, narrowing to RMB 1.50 billion in 2023, and projected to be RMB 1.93 billion in 2024, reflecting a shift from aggressive expansion to efficiency improvement [2][3]. Revenue Structure - In 2024, the revenue breakdown is expected to be 72.0% from full-cycle management services, 19.4% from healthcare product sales, and 8.6% from insurance brokerage services [3][4]. Market Potential - The full-cycle management market in China is projected to grow from RMB 163 billion in 2020 to RMB 614 billion by 2024, with a compound annual growth rate (CAGR) of 39.3% [5]. - By 2030, the market is expected to reach RMB 3,654 billion, indicating substantial growth opportunities [5]. Investment and Valuation - 微脉 has attracted significant investment from notable firms, achieving a valuation of USD 559 million after its D+ round of financing [6][9]. - The company plans to use IPO proceeds to enhance AI capabilities, expand services, and pursue strategic investments or acquisitions [9].

经营范围含许可项目：医疗服务；生活美容服务；检验检测服务；药品零售；药品进出口；第三类医疗 器械租赁；第三类医疗器械经营（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经 营项目以审批结果为准）技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；医学研究 和试验发展；计算机软硬件及辅助设备批发；人工智能公共数据平台；人工智能应用软件开发；大数据 服务；互联网数据服务；生物化工产品技术研发；生物基材料技术研发；化妆品批发；化妆品零售；个 人卫生用品销售；卫生用品和一次性使用医疗用品销售；日用品销售；日用百货销售；日用品批发；互 联网销售（除销售需要许可的商品）；卫生洁具销售；第一类医疗器械销售；第一类医疗器械租赁；第 二类医疗器械销售；第二类医疗器械租赁；电子产品销售；医院管理（除依法须经批准的项目外，凭营 业执照依法自主开展经营活动） 天眼查App显示，近日，昆山臻泓智颜医疗科技有限公司成立，法定代表人为郁振波，注册资本400万 人民币，上海屿桢智能科技有限公司、上海集桑医疗科技有限公司持股。 序号股东名称持股比例1上海屿桢智能科技有限公司70%2上海集桑医疗科技有限公司30% 企业名称昆 ...

Core Viewpoint - The seminar on the construction of smart hospitals and the unveiling of the high-quality network demonstration point at Shanghai Pudong Hospital, co-hosted by Huawei, emphasizes the importance of ICT technology in supporting the development of smart hospitals and the need for practical application over mere investment in infrastructure [1][3][5]. Group 1: Event Overview - The seminar was attended by over 60 participants, including hospital information department heads and media, to discuss the role of ICT in smart hospital development [1]. - The unveiling ceremony of the "Shanghai Pudong Hospital & Huawei High-Quality Smart Hospital Network Demonstration Point" was a key highlight of the event [1]. Group 2: Key Insights from Speakers - Wang Xiaoli, Chair of the Medical Information Committee, emphasized that smart hospitals must focus on practical applications rather than just heavy investments [3]. - Xiong Wujun, Vice President of Shanghai Pudong Hospital, stated that a high-quality network environment is essential for the successful implementation of smart medical applications and data flow [5]. - Xu Qiang, Minister of Huawei's Global Commercial Marketing and Solutions Sales Department, highlighted Huawei's 30 years of expertise in ICT, aiming to provide innovative wireless and data center network solutions for hospitals [8]. Group 3: Future Directions and Innovations - Cao Jianfeng, Deputy Chair of the Shanghai Hospital Association's Information Technology Committee, discussed the future of AI in healthcare, emphasizing the need for a dual-driven approach of data and intelligent infrastructure [10]. - Wen Zhongqiu, Director of the Information Management Office at Shanghai Pudong Hospital, shared successful experiences in building a smart hospital system that integrates medical services and management [12]. - Hou Fangming, Vice President of Huawei's Data Communication Product Line, outlined the challenges and necessary features for hospital networks in the AI era, including wireless connectivity and network security [14].

2024年初，一份名为《关于印发医务人员学术讲课取酬的工作提示的通知》（国卫办医急函〔2023〕 469号）的文件在网上流传。此后，国家卫健委官网虽未发布此文件，但一些地区卫健委及多家公立医 院提及该文件，有些还发布了其部分内容。 《征求意见稿》还要求，医疗卫生机构从业人员不得接受邀请方以任何名义支付的除讲课、主持人、讨 论嘉宾等劳务报酬以外的其他报酬，如礼品、礼金、有价证券、支付凭证等财物。 参加企业、学会协会组织的学术活动收取"讲课费"，历来是医疗卫生行业的灰色地带，各级卫生行政部 门已出台相关规定中，部分涉及医卫从业人员参加学术活动取酬的规范，但较少有规定系统、全面规范 该领域，贵州省卫健委拟出台的规定，在省级卫健委中也是首家。 2023年8月，国家卫健委医疗应急司发布"全国医药领域腐败问题集中整治工作有关问答"指出，规范开 展的学术会议和正常医学活动是要大力支持、积极鼓励的。需要整治的是那些无中生有、编造虚假学术 会议的名头，进行违法违规利益输送，或者违规将学术会议赞助费私分的不法行为。 （原标题：规范医卫从业人员"讲课费" 贵州拟出新规全流程监管） 近日，贵州省卫健委发布《医疗卫生从业人员参加学术活 ...

Company Overview - MicroPulse has officially submitted its listing application to the Hong Kong Stock Exchange on June 27, with China Merchants Securities International and Deutsche Bank serving as joint sponsors [2] - Headquartered in Hangzhou, MicroPulse is a pioneer and leader in AI-enabled full-course management services in China, aiming to enhance the healthcare service value chain by connecting hospitals, doctors, and patients [2] Market Position - Based on projected revenue for 2024, MicroPulse ranks among the top three full-course management service providers in China and is the largest AI-enabled patient-centric service provider in the country [2] - The company covers the entire health management process for patients, from pre-treatment to post-treatment, and is one of the few official managed health management partners of public medical institutions in China, giving it a unique advantage in the industry [2] Service Model - MicroPulse has established a multidisciplinary health management team by directly signing contracts with public hospitals to meet the health and disease assessment needs of patients at different stages [2] - This model allows for the development of a multi-level, multi-population, and multi-disease full-course management service system in collaboration with hospitals, providing comprehensive and continuous healthcare services [2] Financial Performance - As of the latest feasible date, MicroPulse has partnered with 157 hospitals and over 4,700 cooperative hospitals, serving approximately 200,000 patients in full-course management during the track record period [3] - Financially, MicroPulse reported revenues of approximately 512 million RMB, 628 million RMB, and 653 million RMB for the fiscal years 2022, 2023, and 2024, respectively, with corresponding losses of approximately 414 million RMB, 150 million RMB, and 193 million RMB [3]

十几天过去，神经医学专家林志雄、吴成翰依然清晰地记得那台特别的手术。 6月14日的下午，他们和脑机接口科学家、南开大学教授段峰合作，将介入脑电传感器芯片通过血管放进了一名偏瘫病人的颅内静脉窦。他们希望通过这台 手术，帮助修复病人的运动功能。 一周后，他们向外界宣布了手术结果：手术顺利，病人的抓握功能得到了改善。 两年前，段峰曾和神经医学专家吴东东合作，将介入式支架电极置入猴子脑部血管，这是全球首例非人灵长类动物介入式脑机接口试验。那只猴子至今保持 着不错的状态。现在，段峰又在国内率先尝试了在人身上进行同样的试验。 脑机接口，顾名思义，是大脑和计算机之间的接口。在科幻电影中，残疾人用机械臂弹唱，失语者开口说话，失聪者听到声音，人类靠意念指挥庞大的机 械……作为医生，吴成翰也和无数同行一样，想象过一个被脑机接口改变的未来：数以千万计的因渐冻症、小儿麻痹症、外伤、脑肿瘤、脑血管病引起的瘫 痪病人，在技术的帮助下实现生活自理，无数失能者、照护者的生活得到解放。 一场特别的手术 这场脑机接口介入手术由福建三博脑科医院院长、神经外科医生林志雄任PI，他的团队负责挑选病人、评估病人情况、做术前准备、评估电极安放位置及术 后 ...

投资咨询业务资格:证监许可【2012】31号 【C 国贸易所得 股 指 行 信 综 回顾:昨日收盘,沪深300下跌0.35%至3946;上证50下跌0.34%至 2738.5: 中证500下跌0.41%至5838.2: 中证1000下跌0.45%至6247.8。沪 深两市成交额15832亿,较昨日小幅缩量196亿。行业板块涨少跌多,船 舶制造、旅游酒店、采掘行业、多元金融、银行板块涨幅居前,化学制 药、半导体、医疗服务、美容护理、汽车整车板块跌幅居前。 热评:昨日股指小幅收跌,前两日强势领涨的金融板块有所走弱,但市 场成交量维持高位,接近1.6万亿水平。当前国内外消息面较为真空,股 指经历强势突破后,在情绪和流动性的驱动下进一步走强的概率较高, 后续关注宏观增量信息对股指方向的指引。本周股指强势上涨的主要原 因有三:一是伊以局势快速反转,以伊全面停火,地缘政治冲突的扰动 缓解。二是,特朗普表示美国利率应该至少调降200-300个bp,海外降息 预期提升。三是近期几次重要会议和高层讲话显示国内金融政策对外开 放步伐加快,海外资金流入预期增强。 宏观金融数据日报 国贸期货研究院 宏观金融研究中心 郑雨婷 期货执业 ...

在签约揭牌仪式上,济阳区人民医院院长高峰与两所监狱负责人现场签署了《监地医疗合作协作协 议》。副区长石治国为"济南市济阳区人民医院齐城院区"揭牌,区卫健局局长刘娟为"济南市济阳区人民 医院驻狱急救站"揭牌。会后,与会人员查看了齐州监狱"三廊三中心"学习、教育、业务一体化综合平台 和职工医院、狱内医院等场所。 作为区域医疗中心,济阳区人民医院拥有国家级卒中中心、标准化胸痛中心、肿瘤规范化诊疗病房及骨 科、神经内科、消化内科、临床护理、小儿内科等五个省、市级临床重点专科,急诊PCI治疗D-to-W时间 最短仅27分钟,可为合作提供强力技术支撑。目前,医院已派驻资深急救医护团队24小时驻守狱内急救站, 配备心电监护仪、除颤仪、心电图仪等急救设备及药品。通过专业医疗资源下沉,开展驻点服务、技术 帮扶和应急培训,推动优质医疗服务向监管一线延伸,有效提升狱内急救效率,实现"救治前移、风险可控", 进一步保障救治人员医疗权益。 此次协作,既是济阳区人民医院作为公立医院服务特殊人群健康需求的责任延伸。医院将以此为契机,持 续优化"医疗+监管"机制,为健康济阳、平安济阳建设贡献"医"线力量。 近日,济南市济阳区人民医院与山东省 ...

业内人士分析指出，基金公司对诺辉健康等风险标的"严厉"估值调整，不仅与其停牌期间暴露的财务疑虑、经营不确定性有关，也折射出公募基金行业在改 革深化背景下，风控标准日益趋严，对上市公司质地要求更高。华南某基金经理透露："现在基金公司对入池标的把关更严，更强调公司基本面。对于ST类 股票，很多公司内部已经不允许基金经理买入。未来资金将更倾向于流向绩优公司。"(文馨) 除了诺辉健康，近期A股市场的ST紫天也遭遇基金公司估值下调。6月16日，华夏基金公告将其持有的ST紫天股票估值从停牌前8.74元下调至2.5元，降幅亦 超过七成。*ST紫天此前因被调出中证2000指数成分股，基金公司需调整估值以反映公允价值。 【环球网财经综合报道】近期，港股上市公司诺辉健康的股价估值遭遇基金公司"集体看空"。多家基金公司对其停牌股票进行大幅估值调整，其中长城基金 给出的估值较停牌前股价14.14港元砍去了超过90%，仅剩1.2港元，引发市场高度关注。 6月26日，博时基金公告称，自6月25日起，对旗下博时恒生医疗保健ETF（QDII）持有的诺辉健康股票按3.33港元/股进行估值。同周，长城基金也宣布自6 月24日起，对其旗下基金持有 ...