Core Conclusion - UBS identifies five key long-term investment themes as the best entry points: Digital Consumers, Diversity and Equality, Enabling Technologies, Fintech, and Identifying the Next Frontier [1][2] Investment Themes 1. Digital Consumers - Investment Logic: The younger generation, particularly Gen Z, is reshaping consumption patterns, prioritizing shared experiences over ownership. AI plays a crucial role in transforming traditional sectors like travel and entertainment, alongside emerging areas such as the metaverse and social media [2] - Current Investment Rationale: Ranked first this month due to strong quality metrics, with companies showing robust balance sheets and high returns on invested capital. However, valuations are relatively high due to a focus on growth sectors [2] 2. Diversity and Equality - Investment Logic: Global regulations are increasingly pushing companies to disclose diversity data and reduce disparities. Enhanced diversity is expected to narrow the wealth gap and potentially drive GDP growth over the next decade [3] - Current Investment Rationale: Valuations are reasonable, and quality scores are high. This theme is cross-industry, offering defensive, value, and growth attributes, with strong risk resilience [3] 3. Enabling Technologies - Investment Logic: Generative AI is accelerating technological convergence, with UBS focusing on five categories: AI, AR/VR, big data, 5G, and breakthrough technologies. These technologies are expected to reshape multiple industries, with a high proportion of hardware and software, particularly semiconductors [4] - Current Investment Rationale: Strong momentum and attractive valuations, with a focus on the IT sector, which is currently performing well. The AI market is projected to reach $2.6 trillion by 2030, with a compound annual growth rate (CAGR) of 41% from 2024 [5] 4. Fintech - Investment Logic: Urbanization, demand from younger demographics, and policy support are driving the fintech sector, with revenues expected to grow from $310 billion in 2024 to $580 billion by 2030. Key areas include leading payment companies and emerging technologies like distributed ledgers and AI [6] - Current Investment Rationale: Continuous improvement in momentum aligns with UBS's positive outlook on the U.S. financial sector. After a period of valuation decline, fintech companies are shifting focus from scale to profitability, supported by advancements in AI and a favorable regulatory environment [6] 5. Identifying the Next Frontier - Investment Logic: Emerging and frontier economies are projected to be the main drivers of global GDP growth over the next decade, with over 50% of the population in the top 10 developing economies by 2024. These markets can convert economic growth into corporate profitability [7] - Current Investment Rationale: The appeal of emerging markets is increasing due to the expanding U.S. fiscal deficit and a weakening dollar. Investors are likely to favor these markets for diversification, especially with potential interest rate declines in the second half of the year [7] Short-term Cautions - Gene Therapy & Medical Technology: Currently ranked low in quantitative models, lacking short-term catalysts. The biotech sector faces significant capital constraints, and medical technology companies need to demonstrate profitability and scalability [8] - Smart Mobility: Due to improved valuations and momentum, this theme has been removed from the caution list, with positive developments expected from upcoming industry events [9]

Core Viewpoint - The announcement details a share reduction plan by a major shareholder of Jiahe Meikang (Beijing) Technology Co., Ltd., due to liquidity needs, involving the potential sale of up to 2,672,492 shares, representing 1.94% of the company's total shares [2][3]. Shareholder Holding Situation - As of the announcement date, the shareholder Suzhou Saifu Puxin Medical Health Industry Investment Center (Limited Partnership) holds 2,672,492 shares, accounting for 1.94% of the total shares of Jiahe Meikang [2]. Reduction Plan Details - The shareholder plans to reduce their holdings through centralized bidding, with a maximum of 2,672,492 shares to be sold within 90 days after the announcement, starting from the third trading day [3]. - The reduction will be subject to market conditions, and the selling price will be determined based on market prices. Adjustments will be made if there are any corporate actions affecting share value during the reduction period [3]. Basic Information of the Reducing Entity - The reducing entity does not have any concerted actions with other parties [4]. Past Share Reduction Activities - The announcement does not indicate any prior share reduction activities by the shareholder within the last 12 months [5]. Compliance with Regulations - The reduction plan complies with relevant regulations, including the special provisions for venture capital fund shareholders and the Shanghai Stock Exchange's guidelines [3][10].

Core Insights - The Health and Wellness Services Special Topic will be held at the Beijing Shougang Park from September 10 to 14, 2025, under the theme "Intelligent Leadership for a Healthy Life" [1] - The event will feature a specialized exhibition and will concurrently host nearly 20 various meetings, forums, and supporting activities, including the "Capital International Medical Conference" [1] - The participation rate of Fortune Global 500 and industry-leading companies reached 54%, with an internationalization rate of 53% [1]

Group 1: Core Themes of the Exhibition - The 25th China International Investment and Trade Fair opened in Xiamen, showcasing Heilongjiang's regional characteristics and industrial vitality through four core themes: ice and snow, technology, agriculture, and China-Russia cooperation [1][12][16] - The agricultural exhibition area attracted significant attention, featuring products from Heilongjiang's fertile black soil, including rice, oil, and rare specialties, which captivated visitors [1][3][15] Group 2: Agricultural Highlights - The North China Agricultural Group's booth displayed high-quality long-grain fragrant rice and non-GMO soybean oil, emphasizing the purity of Heilongjiang's agricultural products [3][5] - The Daxing'anling region showcased organic mushrooms and wild berry products, highlighting the unpolluted environment of their production base [5][7] - Other notable products included fresh cranberries and beef products from Heihe, which drew considerable interest from attendees [7][15] Group 3: Technological Innovations - The technology exhibition featured innovative products such as a natural lighting curtain that enhances indoor lighting efficiency significantly [8][10] - The Intelligent Vision Medical Robot, designed for retinal surgeries, demonstrated high precision and real-time monitoring capabilities, attracting considerable attention [10][15] - High-end electric motors and advanced materials were also showcased, reflecting Heilongjiang's strength in technology and innovation [10][16] Group 4: China-Russia Cooperation - The China-Russia cooperation area highlighted the theme of building a new highland for northern openness, with Russian chocolates and cookies drawing visitors [12][16] - The Black River Longfei Investment Group reported over 30 potential business collaborations on the first day of the fair, exceeding expectations [12][16] Group 5: Ice and Snow Economy - The ice and snow exhibition area became a popular spot, featuring stylish down jackets and commemorative items related to the Winter Olympics, embodying the region's cultural charm [14][16] - The theme "Green Water and Green Mountains are Golden Mountains and Silver Mountains" was prominently displayed, emphasizing the economic potential of the ice and snow industry [14][16]

Core Viewpoint - The company has made significant advancements in the artificial intelligence sector by developing a self-evolving multimodal intelligent architecture, which has led to the creation of a revolutionary intelligent health examination report system that is currently being trialed by partner institutions [1] Group 1: Technological Advancements - The new system utilizes a top-tier expert thinking chain model that continuously learns and updates medical frontier knowledge [1] - It comprehensively analyzes user health examination images, tests, and medical history data to generate personalized health reports [1] - The system significantly reduces misdiagnosis and missed diagnosis rates by eliminating human biases and accurately identifying complex health risks [1] Group 2: Industry Impact - The transition from traditional health examinations to intelligent examinations represents not only a technological improvement but also an industrial transformation [1] - The system enables real-time collaboration with remote medical nodes, generating expert-level reports in seconds [1] - It ensures that primary healthcare institutions have access to the analytical capabilities of top-tier hospitals, allowing high-quality medical resources to be accessible without boundaries [1]

Core Insights - The company has made significant advancements in the artificial intelligence sector by developing an autonomous multi-modal intelligent agent architecture based on its proprietary optimized large model [1] - A revolutionary intelligent health examination report system has been created, which is currently in trial use at partner institutions [1] Company Developments - The new system employs a top-tier expert thinking chain model that continuously learns and updates medical frontier knowledge in real-time [1] - It comprehensively analyzes user health examination images, tests, and medical history data to generate personalized health reports [1] - The system significantly reduces misdiagnosis and missed diagnosis rates by eliminating human biases and accurately identifying complex health risks [1] Industry Impact - The transition from traditional health examinations to intelligent health examinations represents not only a technological improvement but also an industrial transformation [1] - Each health examination data point is transformed into an intelligent guide for precise health management, ensuring that high-quality medical resources are accessible without boundaries [1] - The system enables real-time collaboration with remote medical nodes, generating expert-level reports in seconds, thus providing grassroots institutions with the analytical capabilities of top-tier hospitals [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，概不對因本公告全部或任何部分內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 CONCORD HEALTHCARE GROUP CO., LTD. 美中嘉和醫學技術發展集團股份有限公司 （股份代號：2453） 自願公告 自研多模態智能體系統進展 本公告乃由美中嘉和醫學技術發展集團股份有限公司（「本公司」）董事會（「董事 會」）自願刊發。 董事會欣然宣佈，本公司在人工智能領域再度取得重要進展，基於自主研發的優 化大模型，成功構建了自主進化的多模態智能體架構，打造了顛覆傳統的智能體 檢報告系統，並已在合作機構開始試用。 該系統採用頂級專家思維鏈模式，持續學習並實時更新醫學前沿知識，全面分析 用戶體檢影像、檢驗、病史等多模態數據，生成個性化健康報告。通過消除人為 偏差，精準定位復合型健康風險，該系統極大降低誤診率、漏診率，並支持遠程 醫療節點實時聯動，秒級完成專家級報告生成，確保基層機構享有三甲級醫院分 析能力，令優質醫療資源無界觸達。 由傳統體檢到智能體檢，不僅是技術改進，更是一場產 ...

Core Points - The China Securities Regulatory Commission (CSRC) has approved the initial public offering (IPO) registration application of Shanghai Jianda Zhi New Medical Technology Group Co., Ltd [1] - The approval allows the company to issue stocks and list on the Growth Enterprise Market [1] - The company must strictly adhere to the submitted prospectus and underwriting plan during the stock issuance process [1] Regulatory Details - The approval is valid for 12 months from the date of registration [1] - The company is required to report any significant events to the Shenzhen Stock Exchange before the completion of the stock issuance [1]

Core Viewpoint - The company has established and improved its governance structures, including the shareholders' meeting, board of directors, supervisory board, independent directors, and board secretary system, in preparation for its initial public offering on the Growth Enterprise Market [1][2][4][5][6]. Shareholders' Meeting System - The company has adopted its Articles of Association and rules for the shareholders' meeting, establishing a standardized system that allows shareholders to exercise their rights in accordance with the Company Law and the Articles of Association [1]. - The shareholders' meeting has convened 11 times during the reporting period, adhering to legal and regulatory requirements to protect the rights of the company and its shareholders [1]. Board of Directors System - The board of directors, consisting of 9 members, is responsible for managing the company's operations and is accountable to the shareholders' meeting [2][3]. - The board has held meetings in compliance with the Articles of Association and has effectively participated in decision-making regarding profit distribution, listing plans, and the appointment of senior management [3]. Supervisory Board System - The supervisory board, composed of 3 members, serves as the company's oversight body, ensuring the protection of the rights of the company, shareholders, and employees [4]. - The supervisory board has convened 16 meetings during the reporting period, fulfilling its responsibilities in accordance with legal and regulatory requirements [4]. Independent Directors System - The company has appointed 3 independent directors, ensuring that they constitute at least one-third of the board, and has established guidelines for their roles and responsibilities [5]. - Independent directors actively participate in decision-making and have contributed to the protection of minority shareholders' rights and the overall governance structure [5]. Board Secretary System - The board secretary is responsible for information disclosure, investor relations, and organizing board and shareholders' meetings, ensuring compliance with relevant regulations [6]. - Since the appointment of the board secretary, the company has maintained effective communication with shareholders and has contributed to the improvement of the governance structure [6].

Group 1 - The company, Shanghai Jianda Zhi Xin Medical Technology Group Co., Ltd., is applying for an initial public offering (IPO) and listing on the Growth Enterprise Market [1] - The board of directors has established four specialized committees: Strategy, Nomination, Compensation and Assessment, and Audit [1] - All committee members are composed of directors, with independent directors holding a majority in the Compensation and Assessment, Nomination, and Audit Committees [1] Group 2 - The Audit Committee is chaired by an independent director with accounting expertise [1] - The second board of directors has approved the working rules for each specialized committee, outlining their composition, responsibilities, review processes, and procedural rules [2] - The committees have effectively fulfilled their responsibilities, ensuring the company's regulated operations since their establishment [2]