截至2025年12月26日收盘，安必平（688393）报收于23.99元，较上周的24.95元下跌3.85%。本周，安 必平12月22日盘中最高价报26.0元。12月24日盘中最低价报23.04元。安必平当前最新总市值22.17亿 元，在医疗器械板块市值排名121/127，在两市A股市值排名5001/5181。 本周关注点 股本股东变化 股东增减持 12月30日安必平发布公告，其股东重庆高特佳睿安股权投资基金合伙企业(有限合伙)、诸暨高特佳睿安 投资合伙企业(有限合伙)、杭州睿泓投资合伙企业(有限合伙)、杭州高特佳睿海投资合伙企业(有限合伙) 于2025年12月1日至12月30日间合计减持68.58万股，占公司目前总股本的0.7329%。变动期间该股股价 下跌3.84%，截止12月30日收盘报23.8元。 机构调研要点 问：今年12月国家医保局印发《病理类医疗服务价格项目立项指南（试行）》，与安必平业务相关的有 哪些？ 答：该立项指南与安必平业务相关的主要是1）数字化切片和上传病例诊疗报告部分，如果未能提供相 应服务的，执行减收政策，减收标准为5元每切片，单次检查或复制多张切片的，最高减收不超过15 元。2） ...

医院选择AI产品时，安必平优势在于试剂、设备、扫描仪一体化，其AI针对进口液基细胞学产品训练 后灵敏度与自有试剂一致；宫颈细胞学AI临床测试结果发表于《Nature Communications》，可将初级病 理学者平均灵敏度从0．717提升至0．858、阅片时间从218s／片缩短至30s／片。其他AI布局方面，免 疫组化AI已有成形产品将尽快报证，FISH领域收购荧光扫描仪厂商后AI布局中，预计2026年底开始报 证。 调研详情如下： 投资者关系活动主要内容介绍 1． 今年 12月国家医保局印发《病理类医疗服务价格项目立项指南（试行）》，与安必平业务相关的有 哪些？ 答：该立项指南与安必平业务相关的主要是： 1） 数字化切片和上传病例诊疗报告部分，如果未能提供相应服务的，执行减收政策，减收标准为 5元 每切片，单次检查或复制多张切片的，最高减收不超过 15 元。 2） 公司的宫颈细胞学 AI三类证目前在注册过程中，政策把 AI辅助诊断作为拓展项，这样 AI应用就有 了收费落地的场景。 2025年12月29日，安必平披露接待调研公告，公司于12月21日至12月26日接待淡水泉（北京）投资、湘 财证券、中信资管 ...

Core Viewpoint - Anbiping (688393.SH), known as the "first stock in pathological diagnosis," reported its worst half-year performance since its listing, with a significant revenue drop due to the ongoing impact of centralized procurement in the IVD industry [2][3] Company Performance - In the first half of 2025, Anbiping's revenue fell by 30.11% year-on-year to 159 million yuan, and net profit shifted from a profit of 16.36 million yuan in the same period last year to a loss of 12.49 million yuan [2][3] - The core product, HPV testing, saw prices cut by over 50% due to centralized procurement, leading to a 70.71% decline in revenue from this segment [3] Industry Context - The entire IVD industry is experiencing a downturn, with established companies like Dirui Medical forecasting losses for the first time in 11 years, and Maike Biological reporting an 83.12% drop in net profit [3] - Centralized procurement led by Anhui resulted in an average price drop of 53.9% across 25 provinces, with some products seeing reductions of up to 73% [3] Strategic Initiatives - Anbiping is pursuing three strategic paths: building pathology services, embracing digital transformation, and expanding into international markets [5] - The pathology co-construction business showed a rare positive performance, with revenue increasing by 44.49% year-on-year to 11.69 million yuan, marking it as a strategic focus for the company [5] - The digital transformation initiative aims to enhance existing product lines with AI, with projected revenue from this segment exceeding 10 million yuan in 2024, growing over 80% [5] International Expansion - Anbiping received CE certification for 13 IHC and 1 LBP products in the first half of the year and has begun sending samples to multiple countries [6] - While partnerships have been established in several countries, significant challenges remain in product registration and local operations, making it difficult to achieve substantial overseas revenue in the short term [6] Shareholder Activity - Original shareholders have been continuously reducing their stakes, with their ownership dropping from 13.84% to below 5% over two years, signaling potential concerns about the company's transformation efforts [7]

Core Viewpoint - Zhejiang University has announced procurement intentions for 41 items of laboratory equipment, with a total budget of 102 million yuan, scheduled for procurement between April and July 2025 [1][2]. Procurement Overview - The procurement includes various laboratory instruments such as enzyme labelers, multifunctional enzyme labelers, chemiluminescence imaging systems, portable ultrasound imaging systems, digital slide scanners, and microscopes [2][3]. - The total budget for the procurement is 102 million yuan, with specific allocations for different equipment types [2][3]. Equipment Details - Enzyme Labeler: 1 unit, budget 200,000 yuan, used for detecting absorbance in microplate samples [3]. - Multifunctional Enzyme Labeler: 1 unit, budget 200,000 yuan, supports multiple detection modes [3]. - Chemiluminescence Imaging System: 1 unit, budget 200,000 yuan, used for Western Blot and gel imaging [3]. - Portable Ultrasound Imaging System: 1 unit, budget 200,000 yuan, supports various examination modes [3]. - Microscopes: Multiple units including inverted microscopes, automatic tissue dehydrators, and fluorescence microscopes, with a total budget of 343,000 yuan [3][4]. - Digital Slide Scanner: 1 unit, budget 370,000 yuan, for high-resolution imaging [4]. - High-Throughput ICP-MS: 1 unit, budget 198,000 yuan, for ppt-level metal ion detection [4][5]. - Atomic Layer Deposition System: 1 unit, budget 160,000 yuan, for precise material deposition [4][5]. - Turbine Engine: 2 units, budget 770,000 yuan, for educational and research purposes [4][7]. Additional Equipment - Various other equipment such as long-focus spherical interferometers, sample preprocessing systems, and high-performance liquid chromatography-mass spectrometry systems are also included in the procurement list, with budgets ranging from 110,000 to 300,000 yuan [5][6][12][13][19]. - The procurement aims to enhance research capabilities and educational practices at Zhejiang University, particularly in fields like aviation, chemistry, and materials science [7][8].