Core Viewpoint - The company has successfully integrated multiple cutting-edge intelligent technologies into its surgical robots, which are now in mass production [1] Group 1: Product Development - The company has obtained registration certificates for hip joint surgical robots, knee joint surgical robots, and unicompartmental surgical robots [1] - The products form a comprehensive digital orthopedic solution covering preoperative, intraoperative, and postoperative stages [1] Group 2: International Business Strategy - The company is actively responding to the national "Belt and Road" initiative and is steadily advancing its international business layout [1]

Group 1 - The core product, the Tumi surgical robot, has surpassed 200 global commercial orders, covering nearly 50 countries and regions, with approximately 130 installations completed [1] - The increase in commercial orders and installations signifies the global recognition of Tumi's clinical value, demonstrating its safety, stability, and reliability [1] - In the nearly 50 countries covered, 12 have more than 5 orders, with strong growth in emerging markets like India (14 orders) and Brazil (over 10 orders), while developed markets like Spain and Australia are also experiencing rapid growth [1] Group 2 - The Tumi remote surgical robot is the first globally approved for commercial application, having received approval in nearly 10 countries, covering areas with nearly half of the world's population [2] - Tumi has completed nearly 800 remote surgeries across over 20 countries, maintaining a 100% success rate [2]

Core Insights - The core product, the TUMAI® laparoscopic surgical robot, has surpassed 200 global commercial orders, covering nearly 50 countries and regions, with approximately 130 installations completed [1] - The significant increase in commercial orders and installations indicates the sustained and widespread recognition of TUMAI's clinical value globally, serving as a systematic certification of its safety, stability, and reliability [1] - Surgeons from various countries and medical systems are integrating TUMAI into their daily surgical practices and long-term academic development [1] Market Performance - Among the nearly 50 countries and regions covered, 12 have more than 5 orders, with strong growth in emerging markets such as India, Brazil, and Argentina; India has accumulated 14 orders, while Brazil has over 10 [1] - Developed markets continue to show breakthroughs, with Spain and Australia emerging as rapid growth points [1] - TUMAI's commercialization has established a new pattern of multi-regional collaborative resonance globally, spanning both emerging markets in developing countries and mature healthcare systems in developed nations [1] Clinical Application - TUMAI has made significant progress in the depth of single-center clinical applications, with several medical institutions having completed over 100 surgeries using TUMAI [1] - The application of TUMAI spans multiple specialties, including urology, general surgery, thoracic surgery, gynecology, pediatric surgery, and head and neck surgery [1] Remote Surgery Development - TUMAI is the first remote surgical robot system approved for commercial application, having received market approval in nearly 10 countries, including China, India, and Brazil [2] - The application of TUMAI covers regions where nearly half of the global population resides and has entered a phase of normalized and scaled clinical application [2] - As of now, TUMAI has completed nearly 800 remote surgeries across over 20 countries, maintaining a 100% success rate [2]

Core Insights - The medical sector is experiencing both "explosive growth" and "cooling" simultaneously, with over 100 medical companies queued for IPOs in Hong Kong, and tightening IPO policies expected [1][3] - The performance of new drug IPOs in 2026 is anticipated to be significantly differentiated, with many companies initiating Pre-IPO financing to hedge against regulatory tightening and market risks [4][5] Group 1: IPO Trends and Market Dynamics - The number of companies waiting for IPOs in Hong Kong has exceeded 400, indicating a crowded market, and the performance of these IPOs is likely to vary widely [4] - Investors are expected to favor companies with successful overseas BD (business development) cases and clear product timelines, while those lacking competitive advantages may face significant IPO pressure [4] - The market sentiment is cautious, with many companies considering Crossover financing to mitigate risks associated with the tightening IPO window [5] Group 2: BD Transactions and Investment Opportunities - The enthusiasm for BD transactions from multinational corporations (MNCs) towards Chinese new drug assets remains high, with China accounting for 50% of global BD transaction volume last year [9][8] - The valuation of Chinese new drugs is expected to stabilize, but there are concerns about rising prices that could harm the reputation of Chinese biotech in the global market [9][8] - The focus of BD transactions is shifting from oncology to other therapeutic areas such as autoimmune and cardiovascular diseases, indicating a diversification of investment interests [12] Group 3: AI in Pharmaceuticals and Medical Devices - AI-driven pharmaceutical companies are gaining traction, with significant funding and BD opportunities expected in 2026, emphasizing the importance of data in drug development [15][16] - The AI revolution is anticipated to first impact consumer medical devices, with AI enhancing product effectiveness and consumer willingness to invest in advanced home healthcare devices [17][18] - The competitive landscape for AI in healthcare is evolving, with a focus on developing tools that can integrate various data types to assist clinical decision-making [19][20] Group 4: Medical Device Market Outlook - The investment landscape for innovative medical devices is currently low but is expected to gradually improve, with structural investment opportunities emerging [26][28] - The challenges of international expansion for Chinese medical devices are significant, but improvements in product quality and performance are paving the way for better market acceptance [31][32] - The future of medical device exports is shifting towards local production and direct sales networks, enhancing profitability and market penetration [32][33]

Group 1 - The core product, the Tumi surgical robot, has surpassed 200 global commercial orders, covering nearly 50 countries and regions, with approximately 130 installations completed [1] - The increase in commercial orders and installations signifies the global recognition of Tumi's clinical value, demonstrating systematic certification of its safety, stability, and reliability [1] - In the nearly 50 countries covered, 12 have more than 5 orders, with strong growth in emerging markets like India (14 orders) and Brazil (over 10 orders), while developed markets like Spain and Australia are also experiencing rapid growth [1] Group 2 - Tumi is the first remote surgical robot system approved for commercial application, having received approvals in nearly 10 countries, including China, India, and Brazil, covering areas with nearly half of the global population [2] - Tumi has completed nearly 800 remote surgeries across over 20 countries, maintaining a 100% success rate [2]

Core Viewpoint - Innotech reported a significant decline in revenue and net profit for the fiscal year 2025, attributed to lower flu-like cases compared to 2024, but the company continues to invest in R&D and market expansion, particularly in international markets and new business ventures [1] Financial Performance - The total revenue for 2025 was 422 million yuan, representing a year-on-year decrease of 32.08% [1] - The net profit attributable to the parent company was 146 million yuan, down 40.84% year-on-year [1] Market and Product Development - The company faced challenges due to a decrease in flu-like cases, which significantly impacted revenue [1] - Despite these challenges, Innotech maintained high levels of investment in R&D and marketing, especially in international markets and new business areas [1] - In 2025, the company received approval for over ten new product registrations and collaborated with online platforms such as JD.com and Meituan to enhance brand recognition, laying a foundation for growth in 2026 [1]

Group 1: Financial Performance - The company reported a total revenue of 464.53 million yuan for 2025, representing a year-on-year increase of 12.43% [1] - The net profit attributable to the parent company was 51.15 million yuan, showing a decline of 1.76% compared to the previous year [1] - The net profit excluding non-recurring gains and losses was 23.66 million yuan, significantly increasing compared to 2024 [1] - The growth in performance was primarily driven by overseas revenue, which increased by over 40% and accounted for more than 30% of total revenue [1] - In domestic operations, the usage of pressure monitoring radiofrequency ablation catheters increased by over 70%, contributing to the upgrade of high-end procedures [1] Group 2: Recent Events - The company announced on February 10, 2026, that its magnetic navigation ablation catheter and star-shaped high-density mapping catheter received EU Medical Device Regulation (MDR) certification, facilitating entry into the European market and enhancing its overseas technology matrix [2] - On February 11, 2026, the company disclosed that approximately 346 million shares of restricted stock will be released for trading on March 2, 2026, representing 73.47% of the total share capital, which may exert liquidity pressure on the stock price [2] Group 3: Stock Performance - The stock price experienced fluctuations, closing at 23.50 yuan on February 12, 2026, with a 7-day price change of 0.95% and a volatility of 4.64% [3] - The stock dropped by 1.43% on February 11, 2026, the day the earnings report was disclosed, with a trading volume of 58.88 million yuan [3] - On February 12, 2026, the net outflow of funds from major investors was 5.11 million yuan, while retail investor activity remained high [3] - The medical device sector declined by 0.83% during the same period, underperforming the broader market [3]

PW MEDTECH GROUP LIMITED 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的任何損 失承擔任何責任。 普 華 和 順 集 團 公 司 （ 於開曼群島註冊成立的有限公司） （股份代號：1358） 海外監管公告 附屬公司業績 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條作出。 普華和順集團公司（「本公司」，連同其附屬公司統稱為「本集團」）的非全資附屬公司四川睿 健醫療科技股份有限公司（ 股份代碼：874652（）「四川睿健醫療」）已於全國中小企業股份轉 讓系統（「全國中小企業股份轉讓系統」）指定披露平台(www.neeq.com.cn)公佈其截至二零二 五年十二月三十一日止年度的經核數師審閱財務業績。四川睿健醫療的財務報表乃按照中 國企業會計準則編製。 四川睿健醫療截至二零二五年十二月三十一日止年度的經核數師審閱財務業績摘要如下。 – 1 – 資產負債表 | | 截至二零二五年 | 截至二零二四年 | | --- | --- | --- | ...

Core Viewpoint - The Chongqing Medical University Affiliated Second Hospital is seeking bids for an ultrasonic surgical aspiration system, with a total budget of 1.2883 million RMB, aimed at enhancing surgical capabilities in neurosurgery [2][3]. Group 1: Project Overview - The project involves the procurement of an ultrasonic surgical aspiration system designed for neurosurgery, capable of bone milling, tumor aspiration, and bone cutting [2]. - The contract requires delivery and installation within 60 calendar days after the contract is signed [2]. Group 2: Budget and Pricing - The total project budget is set at 1.2883 million RMB, which is also the maximum bid price [3]. Group 3: Applicant Qualifications - Bidders must comply with the provisions of the Government Procurement Law of the People's Republic of China [3]. - Specific qualifications include providing registration information for Class I medical devices or valid registration certificates for Class II or III medical devices [4]. - If the bidder is not the manufacturer, they must have the necessary operating licenses for the respective class of medical devices [4]. Group 4: Submission Details - Bidders must submit their proposals by 10:00 AM on March 3, 2026, at the Chongqing Public Resource Trading Center [8]. - The bidding documents can be obtained from the Chongqing Government Procurement website, and there is no fee for the documents [7][8]. Group 5: Government Procurement Policies - The project will adhere to various government procurement policies aimed at promoting environmental protection, supporting small and medium enterprises, and enhancing employment opportunities for disabled individuals [9]. Group 6: Contact Information - The procurement unit is the Chongqing Medical University Affiliated Second Hospital, with contact details provided for inquiries [10].

Core Viewpoint - The medical sector is experiencing both "explosive growth" and "cooling" simultaneously, with over 100 medical companies queued for IPOs in Hong Kong, while tightening IPO policies are anticipated [4][5]. Group 1: IPO Trends and Market Dynamics - The performance of new drug IPOs in 2026 is expected to be significantly differentiated, with over 400 companies currently in the queue for IPOs in Hong Kong [8]. - Investors are becoming more mature and demanding higher standards for IPO projects, focusing on companies with successful overseas BD cases and clear product sales expectations [8][9]. - Many companies are considering Pre-IPO financing to hedge against tightening regulations and market risks, with valuations typically in the range of $300 million to $500 million [9][10]. Group 2: BD Transactions and Market Sentiment - The enthusiasm for BD transactions from multinational corporations (MNCs) towards Chinese new drug assets remains high, with China accounting for 50% of global BD transaction volume last year [12]. - However, the perception of Chinese new drugs as "value for money" is diminishing, leading to a potential slowdown in the growth rate of BD transactions [12][13]. - The focus of BD transactions is shifting from oncology to autoimmune and cardiovascular treatments, with a growing interest in complementary pipelines [14][15]. Group 3: AI in Drug Development and Healthcare - AI-driven pharmaceutical companies are gaining traction, with significant funding and BD opportunities expected in 2026, although the market is becoming increasingly competitive [20][21]. - The application of AI in consumer medical devices and digital therapies is anticipated to unlock new opportunities, particularly in home healthcare products [23][24]. - AI's role in enhancing clinical decision-making and patient management is expected to revolutionize healthcare delivery, making medical information more accessible [24][25]. Group 4: Medical Device Market Outlook - The investment landscape for innovative medical devices is currently at a low point but is expected to gradually improve, with structural investment opportunities emerging [33][34]. - The challenges of international expansion for medical devices are greater than for new drugs, but there are signs of improvement as leading Chinese manufacturers enhance their product capabilities [37][38]. - The future of medical device exports is shifting towards local production and direct sales networks, moving away from simple product exports [38][39].