佰泽医疗集团是一家主要从事投资及提供医疗相关服务的肿瘤医疗公司。该公司在肿瘤全周期医疗服务 领域提供服务，包括筛查、诊断、治疗及康复。该公司主要从事医院业务、医院管理服务、供应药品、 医疗设备及耗材及其他业务。该公司业务包括对患者开展肿瘤诊断、肿瘤治疗、肿瘤康复及临终关怀 等，以及对其他潜在健康人群开展的早癌筛查、肿瘤疫苗接种、健康管理服务。该公司主要在中国市场 开展业务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，1月8日南向资金减持36.9万股佰泽医疗（02609.HK）。近5个交易日中，获南向资金增 持的有4天，累计净增持417.9万股。近20个交易日中，获南向资金增持的有11天，累计净增持254.04万 股。截至目前，南向资金持有佰泽医疗（02609.HK）6539.7万股，占公司已发行普通股的4.96%。 ...

北京，2025年12月22日—— 格隆汇"金格奖·年度卓越公司榜单"于今日正式揭晓。港股上市医疗集团佰 泽医疗(股票代码：02609.HK)凭借在肿瘤医疗服务领域的专业化深耕与模式创新，成功摘得"年度卓越 医疗健康企业奖"。同时，公司首席财务官姚乐先生荣获"年度卓越CFO奖"，彰显资本市场对公司治理 能力与核心团队专业素养的高度认可。 本次评选围绕创新能力、技术领先性、市场影响力、社会责任及可持续发展能力等多个维度展开，旨在 发掘中国医疗健康产业中具备长期价值创造能力的标杆企业。佰泽医疗双项殊荣加身，不仅体现了其在 行业变革期的竞争优势，也为投资者观察民营医疗服务企业的成长路径提供了重要参考。 行业进入分化期：从规模扩张走向价值驱动 近年来，在人口老龄化加剧、癌症发病率上升以及公众健康意识不断提升的背景下，肿瘤防治已成为国 家战略重点之一。与此同时，随着DRG/DIP支付制度改革在全国范围内持续推进，医疗资源配置逻辑发 生深刻变化，推动整个医疗体系由"以量取胜"向"以质增效"转型。 在此背景下，民营肿瘤医疗机构的发展路径面临重构。过去依赖重资产投入、快速扩张的粗放模式正逐 渐失灵。据公开数据显示，2025年关 ...

以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 佰泽医疗集团是一家主要从事投资及提供医疗相关服务的肿瘤医疗公司。该公司在肿瘤全周期医疗服务 领域提供服务，包括筛查、诊断、治疗及康复。该公司主要从事医院业务、医院管理服务、供应药品、 医疗设备及耗材及其他业务。该公司业务包括对患者开展肿瘤诊断、肿瘤治疗、肿瘤康复及临终关怀 等，以及对其他潜在健康人群开展的早癌筛查、肿瘤疫苗接种、健康管理服务。该公司主要在中国市场 开展业务。 证券之星消息，12月22日南向资金增持183.54万股佰泽医疗（02609.HK）。近5个交易日中，获南向资 金增持的有4天，累计净增持403.62万股。近20个交易日中，获南向资金增持的有9天，累计净增持53.46 万股。截至目前，南向资金持有佰泽医疗（02609.HK）6451.08万股，占公司已发行普通股的4.89%。 ...

佰泽医疗集团是一家主要从事投资及提供医疗相关服务的肿瘤医疗公司。该公司在肿瘤全周期医疗服务 领域提供服务，包括筛查、诊断、治疗及康复。该公司主要从事医院业务、医院管理服务、供应药品、 医疗设备及耗材及其他业务。该公司业务包括对患者开展肿瘤诊断、肿瘤治疗、肿瘤康复及临终关怀 等，以及对其他潜在健康人群开展的早癌筛查、肿瘤疫苗接种、健康管理服务。该公司主要在中国市场 开展业务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，12月17日南向资金增持55.98万股佰泽医疗（02609.HK）。近5个交易日中，获南向资金 减持的有3天，累计净减持74.4万股。近20个交易日中，获南向资金减持的有10天，累计净减持198.78万 股。截至目前，南向资金持有佰泽医疗（02609.HK）6151.32万股，占公司已发行普通股的4.65%。 ...

佰泽医疗集团是一家主要从事投资及提供医疗相关服务的肿瘤医疗公司。该公司在肿瘤全周期医疗服务 领域提供服务，包括筛查、诊断、治疗及康复。该公司主要从事医院业务、医院管理服务、供应药品、 医疗设备及耗材及其他业务。该公司业务包括对患者开展肿瘤诊断、肿瘤治疗、肿瘤康复及临终关怀 等，以及对其他潜在健康人群开展的早癌筛查、肿瘤疫苗接种、健康管理服务。该公司主要在中国市场 开展业务。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 | 交易日 | 持股总数(股) | 持股变动(股) | 变动幅度 | | --- | --- | --- | --- | | 2025-12-11 | 6083.28万 | -142.44万 | -2.29% | | 2025-12-10 | 6225.72万 | -21.42万 | -0.34% | | 2025-12-09 | 6247.14万 | 1.02万 | 0.02% | | 2025-12-08 | 6246.12万 | -51.36万 | -0.82% | | 2025-12-05 | 6297.4 ...

Group 1 - The core point of the article is that southbound funds have increased their holdings in Baize Medical (02609.HK) by 132,600 shares on November 21, 2025, with a total net increase of 1,084,000 shares over the past 20 trading days [1][2] - As of now, southbound funds hold a total of 63,736,800 shares of Baize Medical, accounting for 4.82% of the company's total issued ordinary shares [1][2] - The company operates primarily in the oncology medical services sector, providing a full cycle of medical services including screening, diagnosis, treatment, and rehabilitation [2] Group 2 - The trading data shows fluctuations in shareholding over the past few days, with a net increase of 10,920 shares over the last five trading days [2] - The company is involved in various aspects of oncology care, including cancer diagnosis, treatment, rehabilitation, and palliative care, as well as early cancer screening and health management services [2]

Core Viewpoint - Southbound funds have increased their holdings in Baize Medical (02609.HK) by 103,200 shares on November 20, 2025, indicating a potential positive sentiment towards the company in the market [1]. Summary by Sections Southbound Fund Activity - In the last five trading days, southbound funds have increased their holdings for three days, with a total net increase of 58,200 shares [1]. - Over the past 20 trading days, there have been 12 days of net reductions, totaling 1,262,400 shares [1]. - As of now, southbound funds hold 63,604,200 shares of Baize Medical, accounting for 4.81% of the company's total issued ordinary shares [1]. Shareholding Changes - On November 20, 2025, the total number of shares held was 63,604,200, with a change of 103,200 shares, reflecting a 0.16% increase [2]. - On November 19, 2025, the total was 63,501,000 shares, with a decrease of 150,600 shares, showing a -0.24% change [2]. - On November 18, 2025, the total was 63,651,600 shares, with an increase of 176,400 shares, indicating a 0.28% rise [2]. - On November 17, 2025, the total was 63,475,200 shares, with a decrease of 152,400 shares, reflecting a -0.24% change [2]. - On November 14, 2025, the total was 63,627,600 shares, with an increase of 81,600 shares, showing a 0.13% rise [2]. Company Overview - Baize Medical Group primarily engages in investment and provision of medical-related services, focusing on oncology [2]. - The company offers comprehensive oncology medical services, including screening, diagnosis, treatment, and rehabilitation [2]. - Its business encompasses hospital operations, management services, supply of pharmaceuticals, medical devices, consumables, and other related services [2]. - The company also conducts early cancer screening, tumor vaccination, and health management services for potential healthy populations, primarily operating in the Chinese market [2].

Core Viewpoint - The company intends to publicly transfer 100% equity of its wholly-owned subsidiary, Kunming Medical Oncology Hospital Co., Ltd., with a minimum listing price of 35.9277 million yuan, aiming to optimize its industrial structure and enhance the quality of the listed company's development [1] Group 1 - The company is planning to transfer its entire stake in Kunming Medical Oncology Hospital [1] - The initial listing price for the equity transfer is set at no less than 35.9277 million yuan [1] - Following the completion of the transaction, the company will no longer hold any equity in Kunming Medical [1]

Core Viewpoint - The company intends to publicly transfer 100% equity of its wholly-owned subsidiary, Kunming Medical Oncology Hospital, with a minimum listing price of 35.93 million yuan, aiming to optimize its industrial structure and enhance the quality of the listed company's development [1]. Group 1 - The company is planning to publicly list the transfer of its subsidiary, Kunming Medical Oncology Hospital [1]. - The minimum listing price for the equity transfer is set at no less than 35.93 million yuan [1]. - Upon completion of the transaction, the company will no longer hold any equity in Kunming Medical [1].

Financial Data and Key Metrics Changes - The company reported third quarter revenue of $137 million, a 23% increase compared to the previous year, driven by a 42% growth in the pharmacy business and a 13% growth in the fee-for-service business [4][14] - Adjusted EBITDA loss improved to $3.5 million, a $4.7 million improvement year-over-year, with expectations to achieve profitability in Q4 and become free cash flow positive in 2026 [5][20] - Total revenue for Q3 was $136.6 million, representing a 36.7% year-over-year growth [14] Business Line Data and Key Metrics Changes - Patient services revenue, including capitation and fee-for-service, totaled $60.2 million, accounting for 44.1% of total revenue, with a 21% year-over-year increase [15] - Pharmacy revenue reached $75.9 million, representing 55.6% of total revenue, and increased 57.4% year-over-year due to higher prescription volumes [16] Market Data and Key Metrics Changes - The company expanded its MSO network in Florida to over 200 providers and opened a new pharmacy location to serve network providers [6] - New capitation contracts signed in 2025 are expected to contribute an estimated $19 million in full-year revenue, a 29% increase compared to 2024 [6] Company Strategy and Development Direction - The company is focusing on expanding its delegated capitation model, particularly in Florida, which is expected to become its primary model across all markets [12][13] - The integration of AI into operations is anticipated to enhance performance and reduce costs, with significant operational efficiencies expected from the new AI model [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving adjusted EBITDA profitability in Q4 and highlighted the strong momentum built over the past year [10][20] - The company is optimistic about the impact of recent healthcare policy changes, believing they will lower drug costs and enhance accessibility [40][41] Other Important Information - A cybersecurity incident at a key vendor temporarily affected billing for fee-for-service claims, but the company managed to minimize operational disruptions [9][10] - The company ended the quarter with $27.7 million in cash and cash equivalents, with $86 million of convertible debt outstanding [18] Q&A Session Summary Question: Can you describe the reserve for fee-for-service revenue? - The reserve was a $1.8 million adjustment that impacted adjusted EBITDA, but normalized performance was significantly better [24][26] Question: How sustainable is the first month of profitability in September? - The company expects to achieve break-even EBITDA in Q4 and anticipates positive adjusted EBITDA in 2026 [28][29] Question: What is the current PM/PM trend on new contracts? - PM/PM is dependent on market location, with most contracts having escalators for annual increases [42] Question: How will changes in payer behavior impact the business? - The overall trend towards lower-cost drugs and simplified reimbursement processes is expected to be net favorable for the company [40][41] Question: What is the outlook for new contracts and covered lives? - The company continues to see strong interest in its model and expects top-line growth to mirror previous years, with no slowdown in value-based contracting opportunities [48][49]