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医疗辅助技术(AT)行业“十五五”市场战略研究及投资建议可行性评估预测报告(2025版)
Sou Hu Cai Jing· 2025-09-29 02:16
报告发布方:中金企信国际咨询 项目可行性报告&商业计划书专业权威编制服务机构(符合发改委印发项目可行性研究报告编制要求)-中金企信国际咨询:集13年项目编制服务经验为各 类项目立项、投融资、商业合作、贷款、批地、并购&合作、投资决策、产业规划、境外投资、战略规划、风险评估等提供项目可行性报告&商业计划书编 制、设计、规划、咨询等一站式解决方案。助力项目实施落地、提升项目单位申报项目的通过效率。 医疗辅助技术(AT)是指"为人们维持或改善功能从而促进福祉而开发的辅助产品以及相关系统和服务"。 它允许残疾人、老年人和其他在社会参与方面受 到限制的人通过参与教育、工作和社会活动过上独立、健康和富有成效的生活。 AT 减轻了护理人员的负担以及对正规健康和支持服务的需求。 医疗辅助技术能够促进包容和参与,特别是残疾人、老龄化人口和非传染性疾病患者。 辅助产品的主要目的是维持或改善个人的功能和独立性,从而促进 他们的福祉。 它们使人们能够过上健康、富有成效、独立和有尊严的生活,并参与教育、劳动力市场和公民生活。 辅助产品维持或改善个人的功能和独立性,从而促进他们的福祉。 辅助设备和技术的示例包括轮椅、假肢、助听器、视觉辅 ...
你的听力还好吗?10个关键问题自查
今天是国际聋人日。世界卫生组织发布的《世界听力报告》显示,全球有五分之一的人听力受损,听力 损失影响超15亿人。那么,如何才能早点发现听力受损? 首都医科大学附属北京同仁医院耳科主任 李永新:这10个问题其实很关键,如果有3到4道题出现问 题,我们就建议到医院就诊,怀疑是听力受损。 新生儿如何进行听力筛查和耳聋基因检测? 根据《中华人民共和国母婴保健法》,所有的孩子出生后,在有条件的地区必须进行新生儿听力筛查。 对新生儿进行听力筛查及耳聋基因检测,可以使更多的耳聋患儿得到更早的干预和康复。 那么,新生儿如何进行听力筛查和耳聋基因检测呢? 新生儿听力筛查是指对每一个出生后满48小时至72小时的新生儿,在自然睡眠或安静状态下进行无创听 力检测,筛查新生儿是否存在听力障碍。 耳聋基因检测一般在新生儿出生满72小时进行,主要通过采集足跟血的方式进行检测。 对于听力障碍群体,助听器是重要的辅助工具。然而,市面上的助听器种类繁多、功能各异,如何选择 适合自己的助听器? 首先,到正规医院进行详细耳科检查,并进行听力检测以确定听力损失性质、程度; 然后,预约具有资质的听力验配师进行助听器咨询、选配,以便达到最好助听效果。 首 ...
背背佳不是“万能药”!可孚医疗上半年业绩双降,2024年分红金额超净利润
Sou Hu Cai Jing· 2025-09-22 11:17
Core Viewpoint - The article discusses the challenges and opportunities faced by Kefu Medical, particularly in relation to its acquisition of the brand "Beibeijia" and its upcoming plans for a Hong Kong IPO amid declining revenues and profits [2][3][4]. Group 1: Company Overview - Kefu Medical acquired the brand "Beibeijia" in 2022 for 177 million yuan, reviving a once-popular posture correction product that had faced significant challenges in the past [2][4]. - The company has a diverse product portfolio, including home medical devices, rehabilitation aids, and health monitoring products, with "Beibeijia" being a notable part of its offerings [5][12]. - Kefu Medical ranks second among home medical device companies in China, with a market share of nearly 30% in the posture correction segment [5]. Group 2: Financial Performance - In the first half of 2025, Kefu Medical reported revenues of approximately 1.5 billion yuan, a decline of 4% year-on-year, and a net profit of about 170 million yuan, down 9.5% [3][9]. - The company's revenue growth has been hindered by a significant reliance on a few major clients, with the top five clients contributing 36.7% of revenue in the first half of 2025 [9][10]. - The overall revenue has increased from about 2.4 billion yuan in 2020 to an estimated 3 billion yuan in 2024, but net profit has decreased from 424 million yuan in 2020 to an estimated 312 million yuan in 2024 [7][9]. Group 3: Market Challenges - "Beibeijia" has faced criticism regarding its effectiveness, with many consumers expressing dissatisfaction on social media and complaint platforms, leading to a divided market perception [10][12]. - The product is classified as a consumer-grade item rather than a medical device, which has led to consumer confusion regarding its intended use and effectiveness [12][15]. - Kefu Medical's marketing efforts have included significant advertising expenditures, which increased by 51% in 2024, but these have not translated into sustained revenue growth [10][18]. Group 4: Strategic Moves - Kefu Medical is pursuing a Hong Kong IPO to address funding needs for overseas expansion and ongoing acquisitions, as its previous fundraising efforts from the A-share market have been largely exhausted [24]. - The company has engaged in multiple acquisitions to expand its product offerings and market presence, including recent purchases of medical product companies [18][20]. - The firm has maintained a consistent dividend policy, distributing a total of 1.235 billion yuan in dividends since its IPO, even as it faces financial pressures [22][23].
湖南夫妇卖背背佳:年入29.83亿,全国第一,港股上市
Sou Hu Cai Jing· 2025-09-22 10:57
Core Viewpoint - The company Kefu Medical, known for its home health products, is preparing for an IPO on the Hong Kong Stock Exchange, aiming for a dual listing in both A-share and H-share markets [2] Company Overview - Kefu Medical, headquartered in Hunan, specializes in home health products such as blood pressure monitors, blood glucose meters, hearing aids, wheelchairs, nebulizers, and COVID-19 testing kits [3][4] - As of September 22, 2023, Kefu Medical has a market capitalization of 8.241 billion RMB [5] Business Development - Founded by Zhang Min in 2007, Kefu Medical started as a small medical device retail store and has since evolved into a significant player in the home medical device market [6][8] - The company launched its first online flagship store on Tmall in 2014, expanding its sales channels and reaching consumers in remote areas [10] Product Line and Revenue - Kefu Medical offers over 200 products across five core treatment areas: rehabilitation aids, medical care, health monitoring, respiratory support, and traditional Chinese medicine therapy [11] - In 2024, the revenue from rehabilitation aids is projected to be 1.039 billion RMB, accounting for 34.8% of total revenue, with the "Beibeijia" posture corrector holding a nearly 30% market share in its category [12] Sales Channels - Online sales dominate Kefu Medical's revenue structure, contributing 1.981 billion RMB (66.4% of total revenue) in 2024, with significant performance on platforms like Tmall, JD, Douyin, and Xiaohongshu [14] - The company operates 738 self-owned stores, primarily "Jianer Hearing" service centers, covering over 135 cities [14] Market Presence - Kefu Medical ranks second in the Chinese home medical device market by sales revenue and first in the rehabilitation aids segment [16] - The "Beibeijia" brand leads in sales of posture correctors, while the "Jianer Hearing" brand ranks among the top three in the hearing aid industry [17][18] Financial Performance - Kefu Medical's revenue for 2022, 2023, and 2024 was 2.977 billion RMB, 2.854 billion RMB, and 2.983 billion RMB, respectively, with a gross profit margin improvement from 37.8% in 2022 to 50.6% in 2024 [19] Industry Trends - The aging population in China, with over 310 million people aged 60 and above by 2024, drives demand for home medical devices [20] - The increasing public health awareness and the growing chronic disease patient population further enhance the need for home health management solutions [22] Future Opportunities - The home medical device industry is undergoing significant transformation, with opportunities arising from smart technology integration, diversified consumer groups, multi-functional products, and the rise of domestic brands [23][24][28]
今年以来瑞士对华投资增长37.2%,瑞企如何借力中国实现全球创新反哺
Di Yi Cai Jing· 2025-09-22 09:58
Group 1: Switzerland-China Economic Relations - Switzerland's actual investment in China increased by 37.2% in the first eight months of this year, second only to Japan [1] - The second round of negotiations for the upgrade of the China-Switzerland Free Trade Agreement took place in July, covering various topics including trade facilitation and economic cooperation [1] - Swiss companies are increasingly integrating into the Chinese market, with many small and medium-sized enterprises willing to enter and expand their local operations and R&D centers [1] Group 2: Performance of Swiss Companies in China - Logitech has experienced rapid growth in China over the past 15 years, with the Chinese market becoming a core driver of the group's growth [2] - Logitech established a dedicated R&D team for the Chinese market, allowing for tailored strategies and sufficient investment to support innovation [2] - Swiss skincare brand Reine has seen significant growth since entering China in 2013, with its performance ranking among the top three globally [3] Group 3: Strategic Investments and Market Positioning - Hexagon has made substantial investments in China, establishing its largest single market presence, with a new headquarters in Shenzhen [4] - Hexagon views China as a global R&D center, leveraging local market demands to enhance product development and service optimization [5] - Sonova's establishment of a China headquarters reflects the country's strategic importance, with significant contributions to global business innovation [6] Group 4: Innovation and Market Adaptation - Companies are adapting their products and strategies to meet the fast-changing demands of the Chinese market, with local insights driving global product development [5][6] - The rapid evolution of consumer preferences in China, particularly in gaming and beauty products, is prompting companies to innovate and adjust their offerings accordingly [6] - Swiss companies are leveraging China's large population for clinical research and product optimization, benefiting both local and global markets [6]
可孚医疗向港交所提交上市申请 华泰国际、BNP PARIBAS为联席保荐人
Core Viewpoint - Kefu Medical has submitted a listing application to the Hong Kong Stock Exchange, aiming to raise funds for expanding overseas sales channels, global investments and acquisitions, research and development innovations, and domestic market promotion [1] Group 1: Company Overview - Kefu Medical is a leading enterprise in China's home medical device industry, with over 200 product categories [1] - The company ranks second in sales in China for 2024 [1] - Kefu Medical is actively expanding its online channels, covering all major e-commerce platforms, and is projected to rank second in online sales in the industry for 2024 [1] Group 2: Business Operations - As of June 30, 2025, Kefu Medical operates 738 self-owned stores, with 689 being "Jianer Hearing" service centers, covering 135 cities nationwide [1] - The rehabilitation aids segment is the most significant growth area for revenue, particularly in correction, posture correction products, and hearing aids [1]
新股前瞻|登陆创业板三年后再闯关港股 可孚医疗寻求国际化新跳板
智通财经网· 2025-09-21 03:33
Core Viewpoint - Company seeks to list on the Hong Kong main board after nearly four years on the ChiNext, indicating a strategic move for further capital raising and global expansion [1][2]. Company Overview - Founded in 2007, the company specializes in home medical devices, offering over 200 product categories and thousands of specifications, ranking second in China's home medical device market by sales in 2024 [3]. - The company has expanded its international presence, operating in over 60 countries and regions across Asia, Africa, Europe, and America, establishing a global user base [3]. Financial Performance - Revenue figures for the company are as follows: 29.77 billion RMB in 2022, 28.54 billion RMB in 2023, 29.83 billion RMB in 2024, and 14.96 billion RMB for the first half of 2025. Net profits were 3.02 billion RMB, 2.53 billion RMB, 3.12 billion RMB, and 1.67 billion RMB for the same periods, indicating stable profitability [3]. - The company’s online sales reached 19.81 billion RMB in 2024, ranking second among Chinese home medical device companies [3]. Product Segmentation - The company’s revenue is primarily derived from three segments: medical health products, custom manufacturing, and other businesses, with medical health products contributing approximately 90% of total revenue [4]. - The rehabilitation aids segment has shown significant growth, with revenues of 5.26 billion RMB in 2022, 7.18 billion RMB in 2023, and 10.39 billion RMB in 2024, accounting for 17.7%, 25.2%, and 34.8% of total revenue respectively [6]. Market Trends - The global home medical device market is projected to maintain a significant share from rehabilitation aids, medical care products, health monitoring, and respiratory support devices, expected to account for 63.3% in 2024 and increase to 64.1% by 2030 [7]. - In China, online sales through platforms like Taobao and JD.com contributed approximately 44.3% of total sales in 2024, while offline channels accounted for 55.7% [8]. Global Expansion Strategy - The company is actively pursuing overseas market opportunities, with international sales revenue increasing from 1.4% in 2022 to 2.0% in 2024, and further rising to 6.5% in the first half of 2025 [8]. - The company plans to use funds from the Hong Kong IPO to enhance overseas sales channels, establish distribution networks, and invest in research and development for innovative products [9].
背背佳翻红背后,可孚医疗寻求「A+H」上市突围
Sou Hu Cai Jing· 2025-09-20 07:21
Core Viewpoint - Company Kefu Medical has submitted an IPO application to the Hong Kong Stock Exchange, aiming to become the first "A+H" listed company in China's home medical device industry and expand its global market presence [2] Group 1: Financial Performance - Kefu Medical's revenue and net profit growth have slowed post-pandemic, with revenues of RMB 29.77 billion in 2022, RMB 28.54 billion in 2023, and projected RMB 29.83 billion in 2024, while net profits are expected to be RMB 3 billion in 2022, RMB 2.53 billion in 2023, and RMB 3.12 billion in 2024 [3][4] - In the first half of 2025, the company reported a 4% decline in revenue and a 9.7% drop in net profit compared to the previous year [3] Group 2: Product Segmentation - Rehabilitation aids have become Kefu Medical's largest revenue segment, contributing 38.8% of total revenue in the first half of 2025, with a gross margin of 61.99% [5] - The "Beibeijia" posture correction product has been a key growth driver, achieving sales of approximately RMB 5 billion in 2024 and capturing a 27.2% market share in its category [7][8] Group 3: Marketing and Sales Strategy - Kefu Medical's sales expenses reached RMB 4.8 billion in the first half of 2025, accounting for 32.1% of total revenue, while R&D expenses were only RMB 40.05 million, representing 2.68% [9][10] - The company heavily relies on online sales channels, with online direct sales increasing from 29.8% in 2022 to 35.8% in 2024 [11][12] Group 4: International Expansion - The IPO aims to enhance Kefu Medical's international financing capabilities and promote its globalization strategy, with overseas revenue rising from RMB 42.06 million in 2022 to RMB 96.76 million in the first half of 2025, now accounting for 6.5% of total revenue [13][14] - Recent acquisitions, including Hong Kong's Ximan Medical and Shanghai Huazhou, are expected to significantly boost overseas revenue and market presence [13][14]
医保新规下!2025年开始,这5项费用或将不能再报销
Sou Hu Cai Jing· 2025-09-18 22:38
Core Insights - The new healthcare regulations set to take effect in 2025 will lead to the exclusion of certain medical expenses from insurance reimbursement, impacting patients financially [1][2][10] - The adjustments are necessary due to the increasing financial pressure on the healthcare insurance fund, driven by an aging population and rising medical costs [1][7] Summary by Categories Changes in Reimbursement - Five categories of expenses are likely to be removed from insurance coverage, including: 1. Certain auxiliary examinations and premium medical services, such as high-end health check packages and non-essential imaging tests [4] 2. Inefficient or replaceable medications, particularly those with low clinical value or cheaper alternatives [5] 3. Non-essential rehabilitation treatments and medical devices that do not directly impact disease treatment [6] 4. Specific traditional Chinese medicine treatments that are not deemed essential [6] 5. Non-emergency cross-regional medical services that do not follow referral procedures [6] Rationale Behind Adjustments - The adjustments aim to alleviate the financial strain on the healthcare fund by focusing resources on essential medical services [7] - The policy changes are designed to encourage rational medication use and medical service selection, reducing unnecessary healthcare expenditures [7] - The adjustments also promote the development of the domestic pharmaceutical industry by encouraging the use of innovative and cost-effective medications [7] Strategies for Patients - Patients are advised to understand the new insurance policies and their local variations to avoid unexpected costs [8] - Emphasizing tiered medical care by initially visiting primary healthcare facilities can enhance reimbursement rates [8] - Choosing medications and treatments within the insurance directory can significantly reduce personal expenses [8] - Staying informed about policy changes is crucial for adapting healthcare choices accordingly [8] - Considering supplemental commercial health insurance can provide additional coverage for high-end medical services or specialized medications [9] Positive Signals - Despite the exclusion of certain items from coverage, there are positive developments, such as the inclusion of new cancer drugs and rare disease medications in the insurance directory [10] - The adjustments reflect ongoing efforts to balance the sustainability of the healthcare fund with the medical needs of the population [10]
“邪修进补”爆火:9月15日晚8点京东买药超级品类日推千元健康补贴
Zhong Jin Zai Xian· 2025-09-16 01:41
Core Viewpoint - The article highlights the emerging trend of unconventional health practices among young consumers, reflecting their desire for personalized, efficient, and engaging health management solutions [1][3]. Group 1: Consumer Trends - Young consumers are increasingly adopting unique health practices, such as incorporating unconventional ingredients into food and using health products in creative ways [1]. - There is a growing demand for health management that is both effective and enjoyable, with consumers seeking high efficiency and low burden in their wellness routines [3]. Group 2: Marketing Strategies - JD Health launched a promotional event on September 15-16, offering substantial health subsidies and discounts to cater to the diverse health needs of consumers during the autumn season [3][11]. - The event features a variety of health products, including traditional supplements and modern nutritional formulations, aimed at addressing common health issues faced by young people [6]. Group 3: Product Offerings - The promotional campaign includes high-end health products such as bird's nest, donkey-hide gelatin, and modern supplements like Coenzyme Q10 and fish oil, targeting specific health concerns like fatigue and cold sensitivity [6]. - JD Health also provides a range of health gifts for the upcoming Mid-Autumn Festival and National Day, focusing on practical health devices like blood pressure monitors and glucose meters, appealing to a more health-conscious gifting culture [9]. Group 4: Engagement and Experience - The event encourages consumer engagement through tasks that reward participants with health-related gifts, enhancing the overall shopping experience [3][11]. - JD Health's approach aims to create a comprehensive health experience that combines product offerings with psychological well-being, promoting a holistic view of health management [6][11].