1月12日，可孚医疗涨5.24%，截至发稿，报58.49元/股，成交2.12亿元，换手率1.92%，总市值122.18亿 元。 资料显示，可孚医疗科技股份有限公司位于湖南省长沙市雨花区振华路816号,香港新界葵涌工业街23- 31号美联工业大厦22楼B单元，成立日期2009年11月19日，上市日期2021年10月25日，公司主营业务涉 及从事家用医疗器械的研发、生产、销售和服务。主营业务收入构成为：康复辅具类产品43.12%，医 疗护理类产品32.45%，健康监测类产品20.76%，其他(补充)3.68%。 数据显示，兴银基金旗下1只基金重仓可孚医疗。兴银智选消费混合A（018990）三季度持有股数8.38万 股，占基金净值比例为4.1%，位居第五大重仓股。根据测算，今日浮盈赚取约24.39万元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 兴银智选消费混合A（018990）成立日期2023年11月2日，最新规模1975.61万。今年以来收益3.07%， 同类排名48 ...

12月23日，可孚医疗涨0.33%，成交额5890.77万元。两融数据显示，当日可孚医疗获融资买入额 1618.65万元，融资偿还1152.22万元，融资净买入466.43万元。截至12月23日，可孚医疗融资融券余额 合计1.21亿元。 融资方面，可孚医疗当日融资买入1618.65万元。当前融资余额1.20亿元，占流通市值的1.26%，融资余 额超过近一年70%分位水平，处于较高位。 责任编辑：小浪快报 截至12月19日，可孚医疗股东户数1.60万，较上期减少5.88%；人均流通股12140股，较上期增加 6.25%。2025年1月-9月，可孚医疗实现营业收入23.98亿元，同比增长6.63%；归母净利润2.60亿元，同 比增长3.30%。 分红方面，可孚医疗A股上市后累计派现12.35亿元。近三年，累计派现9.78亿元。 机构持仓方面，截止2025年9月30日，可孚医疗十大流通股东中，国泰医药健康股票A（009805）退出 十大流通股东之列。 融券方面，可孚医疗12月23日融券偿还800.00股，融券卖出3500.00股，按当日收盘价计算，卖出金额 15.96万元；融券余量2.30万股，融券余额104.90 ...

Group 1 - The core viewpoint of the news is that Kewei Medical has seen a stock price increase of 5.23%, reaching 42.05 CNY per share, with a total market capitalization of 8.784 billion CNY [1] - Kewei Medical, established on November 19, 2009, specializes in the research, production, sales, and service of home medical devices, with its main revenue sources being rehabilitation aids (43.12%), medical care products (32.45%), health monitoring products (20.76%), and others (3.68%) [1] Group 2 - Tianhong Fund has a significant holding in Kewei Medical, with Tianhong Zhenxuan Health Mixed A (014708) reducing its stake by 41,900 shares, now holding 172,400 shares, which constitutes 6.91% of the fund's net value, ranking as the fifth-largest holding [2] - The Tianhong Zhenxuan Health Mixed A fund has achieved a year-to-date return of 33.2%, ranking 2108 out of 8161 in its category, and a one-year return of 23.59%, ranking 3302 out of 8015 [2]

Group 1 - On October 9, Kefu Medical experienced a decline of 2.31% with a transaction volume of 55.18 million yuan, and the financing net purchase amounted to 4.30 million yuan [1] - As of October 9, the total balance of margin trading for Kefu Medical reached 115 million yuan, with a financing balance of 114 million yuan, accounting for 1.42% of the circulating market value [1] - The company repaid 3,900 shares of securities lending on October 9, with a remaining securities lending balance of 80.64 million yuan, which is above the 80th percentile level over the past year [1] Group 2 - As of September 30, Kefu Medical had 17,000 shareholders, a decrease of 10.53%, while the average circulating shares per person increased by 11.76% to 11,426 shares [2] - For the first half of 2025, Kefu Medical reported a revenue of 1.496 billion yuan, a year-on-year decrease of 4.03%, and a net profit attributable to shareholders of 167 million yuan, down 9.51% year-on-year [2] Group 3 - Since its A-share listing, Kefu Medical has distributed a total of 1.235 billion yuan in dividends, with 978 million yuan distributed over the past three years [3] - As of June 30, 2025, Kefu Medical's ninth largest circulating shareholder is Guotai Medical Health Stock A, holding 2.3012 million shares, an increase of 236,600 shares compared to the previous period [3]

Group 1 - On September 25, Kefu Medical experienced a decline of 1.43% with a transaction volume of 81.23 million yuan [1] - The financing data on the same day showed a financing purchase amount of 6.12 million yuan and a financing repayment of 9.68 million yuan, resulting in a net financing outflow of 3.56 million yuan [1] - As of September 25, the total balance of margin trading for Kefu Medical was 126 million yuan, with a financing balance of 125 million yuan, accounting for 1.55% of the circulating market value, indicating a high level compared to the past year [1] Group 2 - As of August 29, the number of shareholders for Kefu Medical was 19,000, with an average of 10,223 circulating shares per person, showing no change from the previous period [2] - For the first half of 2025, Kefu Medical reported an operating income of 1.496 billion yuan, a year-on-year decrease of 4.03%, and a net profit attributable to the parent company of 167 million yuan, down 9.51% year-on-year [2] Group 3 - Kefu Medical has distributed a total of 1.235 billion yuan in dividends since its A-share listing, with 978 million yuan distributed over the past three years [3] - As of June 30, 2025, among the top ten circulating shareholders of Kefu Medical, Guotai Medical Health Stock A ranked as the ninth largest shareholder with 2.3012 million shares, an increase of 236,600 shares from the previous period [3]

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]

Group 1 - The core viewpoint of the news is that Kefu Medical has experienced a decline in stock price and trading volume, with significant net financing outflows on September 15 [1] - As of September 15, Kefu Medical's financing balance is 1.50 billion yuan, with a net financing outflow of 815.54 million yuan for the day [1] - The company has a high financing balance, accounting for 1.80% of its market capitalization, which is above the 90th percentile level over the past year [1] Group 2 - Kefu Medical's revenue for the first half of 2025 is reported at 1.496 billion yuan, a year-on-year decrease of 4.03%, while the net profit attributable to shareholders is 167 million yuan, down 9.51% year-on-year [2] - The company has distributed a total of 1.235 billion yuan in dividends since its A-share listing, with 978 million yuan distributed in the last three years [3] - As of June 30, 2025, Kefu Medical's top ten circulating shareholders include Guotai Medical Health Stock A, which increased its holdings by 236,600 shares [3]

Core Viewpoint - Company Kefu Medical has submitted an application for listing on the Hong Kong Stock Exchange, aiming for a dual listing after its previous listing on the Shenzhen Stock Exchange in 2021 [3][4]. Company Overview - Kefu Medical is one of the largest home medical device companies in China, established in 2007, focusing on providing convenient solutions for consumers and patients seeking high-quality home medical devices [3][5]. - The company has significant competitive advantages in various verticals of the home medical device industry, ranking second among all home medical device companies in China based on projected domestic revenue for 2024 [3][5]. Financial Performance - For the six months ending June 30, 2025, Kefu Medical reported revenue of approximately 1.496 billion RMB, a year-on-year decrease of about 4.0%, and a net profit attributable to shareholders of approximately 167 million RMB, down 9.5% year-on-year [3][4][14]. Fundraising Purpose - The net proceeds from the IPO are intended for global expansion, ongoing product research and technological innovation, including applications of artificial intelligence and the Internet of Things, expanding domestic sales channels and distribution networks, brand promotion, and general corporate purposes [4][5]. Product Strategy - Kefu Medical strategically focuses on five categories of home medical devices with strong growth potential: rehabilitation aids, medical care products, traditional Chinese medicine therapy products, health monitoring products, and respiratory support products [6][16]. - The company offers a comprehensive product range with over 200 products and thousands of specifications, enhancing its position as a one-stop solution for consumers' medical needs [6][16]. Sales Network - Kefu Medical has developed a broad and deep sales network in China, with significant overseas influence, covering both online and offline channels [7][9]. - The online sales revenue reached 1.9807 billion RMB in 2024, with full coverage of major e-commerce platforms such as Tmall, JD.com, Douyin, Xiaohongshu, Pinduoduo, and Yaoshi Bang [10][11]. Market Position - According to Frost & Sullivan, Kefu Medical ranks first in the online revenue segment of the home medical device market in China for 2024 [11][12]. - The company has expanded its global footprint, reaching over 60 countries and regions across Asia, Africa, Europe, and the Americas [13].

Core Viewpoint - Kefu Medical Technology Co., Ltd. is seeking to list on the Hong Kong Stock Exchange, aiming to enhance its global strategy and brand recognition after its previous listing on the ChiNext in 2021 [1][7] Group 1: Financial Performance - Kefu Medical's revenue for 2022, 2023, 2024, and the first half of 2025 was RMB 29.77 billion, RMB 28.54 billion, RMB 29.83 billion, and RMB 14.96 billion respectively [2] - Gross profit for the same periods was RMB 11.27 billion, RMB 11.73 billion, RMB 15.09 billion, and RMB 7.48 billion, with corresponding gross margins of approximately 37.84%, 41.09%, 50.58%, and 49.99% [2] - Net profit figures were RMB 3.02 billion, RMB 2.53 billion, RMB 3.12 billion, and RMB 1.67 billion, with net profit margins of about 10.15%, 8.86%, 10.47%, and 11.14% [2] Group 2: Product and Market Position - Kefu Medical's core business is product sales, contributing approximately 90% of total revenue, with sales figures of RMB 27.99 billion, RMB 26.42 billion, RMB 27.37 billion, and RMB 13.07 billion for the years 2022 to 2025 [2] - The revenue from rehabilitation aids increased significantly from RMB 5.26 billion in 2022 to RMB 10.4 billion in 2024, reaching RMB 5.31 billion in the first half of 2025, accounting for over 35% of total revenue [3] - Kefu Medical ranks first in the market for home rehabilitation aids and posture correction products, with a market share of nearly 30% [4] Group 3: Market Trends and Growth Potential - The global medical device market is projected to reach USD 869.7 billion by 2030, driven by factors such as aging population and increased healthcare spending [6] - The Chinese home medical device market is expected to grow from RMB 1,224 billion in 2019 to RMB 3,131 billion by 2030, with a compound annual growth rate of 7.9% [7] - Kefu Medical's overseas revenue was approximately RMB 59.15 million in 2024, representing only 1.98% of total revenue, but showed significant growth with a 200% increase in the first half of 2025 [7]

Core Viewpoint - Kefu Medical Technology Co., Ltd. has submitted an application for a dual listing on the Hong Kong Stock Exchange, marking the official start of its A+H dual listing strategy, following its previous listing on the A-share market [1][5]. Group 1: Company Overview - Kefu Medical, established in 2007, focuses on five categories of home medical devices, including rehabilitation aids, medical care products, health monitoring devices, respiratory support products, and traditional Chinese medicine therapy products, making it one of the largest home medical device companies in China [5][6]. - According to Frost & Sullivan, Kefu Medical ranks second among all home medical device companies in China by sales revenue for 2024 [6]. Group 2: Financial Performance - Kefu Medical's revenue for the years 2022 to 2025 (first half) is approximately 2.977 billion, 2.854 billion, 2.983 billion, and 1.496 billion yuan, respectively, with a compound annual growth rate of 2.9% over the past three years [7]. - The company's net profit for the same period is approximately 302 million, 253 million, 312 million, and 167 million yuan, indicating a decline in profitability in 2023, with a further 9.5% year-on-year decrease in net profit in the first half of 2025 [8]. Group 3: Market Position and Strategy - Kefu Medical has achieved significant online sales success, with 2024 online sales reaching 1.981 billion yuan, ranking second among home medical device companies in China [10]. - The company has established a comprehensive presence on major e-commerce platforms, leveraging "Douyin + e-commerce" strategies to capture market share [11]. - Kefu Medical is actively expanding its overseas business, with international revenue accounting for only 1.98% of total revenue in 2024, but showing significant growth of over 200% in the first half of 2025 [11]. Group 4: Future Plans - The funds raised from the Hong Kong listing will primarily be used for product research and development, global sales network expansion, business development, brand marketing, and supplementing working capital [11].