Core Insights - The 24th Chinese Orthopaedic Association (COA) conference showcased significant advancements in orthopedic technology, emphasizing the integration of robotics, navigation, imaging, and biomaterials under the theme "Digital Intelligence in Orthopedics" [2] - The conference attracted 20,188 registered participants and received 37,222 submissions, indicating a strong interest in orthopedic innovations [2] Group 1: Robotics and Navigation Systems - Surgical robots and navigation systems are expanding across various orthopedic fields, moving beyond joint surgeries to include spine, trauma, and sports medicine, focusing on precision and standardization [4] - Companies like Stryker, Tianzhihang, and others are presenting comprehensive orthopedic platforms that integrate imaging, navigation, and robotic arms, forming a closed-loop system for enhanced surgical outcomes [4] - The Trinity system by Tuo Dao Medical demonstrates a unified platform for rapid switching between surgical procedures, showcasing advancements in AI planning and real-time navigation [19] Group 2: Biomaterials and Bone Repair - The competition in bone repair and biomaterials is intensifying, with companies offering innovative solutions such as absorbable screws and 3D-printed bioceramics, focusing on osteogenic activity and infection resistance [4] - Smartbone and other manufacturers are introducing advanced materials that not only fill defects but also promote bone regeneration and integration [4] Group 3: Domestic Innovations - Domestic companies are accelerating the development of high-end joint prosthetics and key materials, with a focus on integrating materials, prosthetic design, and manufacturing processes [4] - The collaboration between local firms and international companies is shifting from product showcases to establishing standards and ecosystems, enhancing the overall orthopedic landscape [4] Group 4: Key Product Launches - Stryker highlighted its latest products, including the Mako robotic system, which integrates multiple surgical techniques for hip and knee replacements, enhancing precision and efficiency [5][7] - Rosenboht signed a strategic partnership with the Chinese University of Hong Kong to advance intelligent surgical technologies, aiming for more precise and minimally invasive orthopedic procedures [12][14] - The launch of the "Panshi Self-Pressing 3D Partition Bone Trabecular Biological Knee Prosthesis" by Jiashite Medical showcases advancements in mechanical stability and biological fixation [40][42] Group 5: Technological Integration - Companies are increasingly focusing on integrating AI and imaging technologies to enhance surgical precision and safety, as seen in the solutions presented by Meiya Optical and other firms [46][50] - The introduction of AR navigation systems by Linyan Medical represents a significant technological advancement, improving the visibility and accuracy of spinal surgeries [53][55] Group 6: Comprehensive Solutions - The conference highlighted the importance of comprehensive solutions that encompass preoperative planning, intraoperative guidance, and postoperative evaluation, as demonstrated by various exhibitors [4][60] - Companies like Weigao and others are showcasing integrated solutions that leverage digital technologies to enhance the entire orthopedic treatment process [100][102]

10月29日晚，中国证监会对普爱医疗、宝济药业境内企业境外发行上市予以确认，2家均为赴港上市备案。 1、普爱医疗 拟发行不超过34,500,000股境外上市普通股并在香港联合交易所上市。 4月30日，普爱医疗向港交所递交招股书，申请香港主板上市。目前，该公司招股书已失效。 财务方面，2022至2024财年，普爱医疗营收分别为3.77亿元、5.01亿元、4.84亿元，相应的净亏损分别为4370万元、1597万元、4423万元。 2、宝济药业 拟发行不超过110,426,740股境外上市普通股并在香港联合交易所上市。 普爱医疗主要从事医用X射线影像设备与骨科手术机器人的研发、生产及销售，覆盖数字化X射线摄影系统、移动式C形臂X射线机等产品，包括PLX9600系 列数字化设备、PLX101+01高频移动式X射线摄影机等医用影像设备，以及骨科手术机器人等九大系列100余款产品。 宝济药业是一家临床阶段的生物技术公司，专注于攻克治疗选择有限且药物制造工艺复杂的目标病症。截至2025年8月，该公司拥有7款临床阶段候选药物 (包括3款核心产品KJ017、KJ103及SJ02)，9项授权专利及10项专利申请。 财务方面，20 ...

证券日报网讯埃斯顿（002747）10月29日在互动平台回答投资者提问时表示，绳驱是一种仿生技术，具 有良好的交互和安全性。公司参股公司埃斯顿医疗基于Barrett Technology的绳驱技术开发了医疗机器人 核心部件，基于该核心部件开发独特的骨科手术机器人，目前临床入组中。 ...

每经AI快讯，有投资者在投资者互动平台提问：腱绳作为灵巧手的关键传动方式，希望公司能考虑布 局相关领域公司。比如通过并购或参股有关公司，达到整合资源、延伸到高价值环节的目的。也能形成 与人形机器人协同共振的效果，进一步加强公司核心竞争力、影响力。 （记者 王晓波） 埃斯顿（002747.SZ）10月29日在投资者互动平台表示，绳驱是一种仿生技术，具有良好的交互和安全 性。公司参股公司埃斯顿医疗基于Barrett Technology的绳驱技术开发了医疗机器人核心部件，基于该核 心部件开发独特的骨科手术机器人，目前临床入组中。 ...

Core Achievements in Health Sector - The establishment of the world's largest disease prevention and control system and medical service system, with a target of reaching a per capita life expectancy of 79 years by 2024 and improving health literacy to 31.9% during the 14th Five-Year Plan period [1] Medical Technology Advancements - The launch of NanoForge, the world's first AI drug nano-delivery platform, which enhances drug development processes and expands data barriers for innovative drug research [2] - China ranks second globally in new drug research and development, with over 20% of new drugs in development, and several innovative domestic drugs have been approved, including the anti-tumor drug Zebutinib [2] Medical Equipment Innovations - Significant advancements in medical devices, such as photon-counting CT that improves spatial resolution by 2-3 times and reduces radiation dose, along with successful development of orthopedic and soft tissue surgical robots [3] - New treatment methods for colorectal cancer have increased the effective treatment rate from 13% to 44%, showcasing the effectiveness of domestic research [3] Improvement in Medical Services - The introduction of the "Xihe No. 1" AI model has improved diagnostic accuracy and reduced misdiagnosis rates, providing timely treatment opportunities for patients [4] - The goal of providing accessible healthcare has led to the establishment of a comprehensive health service system, addressing public concerns about medical access [4] Optimization of Healthcare Resources - Accelerated construction of national and regional medical centers to extend quality healthcare resources to underserved areas, with 26 national medical centers and 125 regional centers established [5] - Implementation of a "distributed examination, centralized diagnosis" model to facilitate mutual recognition of medical test results across cities [6] Enhancements in Medical Insurance - The introduction of the "medical insurance wallet" feature allows for the transfer of personal medical insurance funds to family members, enhancing the convenience of medical payments [8] - Comprehensive reforms in medical insurance have improved outpatient reimbursement and increased the direct settlement rate for cross-provincial medical expenses to over 90% [8] Focus on Elderly and Child Healthcare - Strengthening of maternity insurance and the establishment of long-term care insurance systems to support the elderly and disabled populations [9] - Significant reductions in medical expenses for low-income rural populations, with over 650 billion yuan in cost alleviation achieved through various insurance policies [9] Continuous Improvement in Medical Services - The establishment of a unified national medical insurance information platform has significantly enhanced service efficiency, with a 43-fold increase in direct settlement for cross-provincial medical services from 2020 to 2024 [10] - The ongoing development of health services aims to provide affordable and high-quality healthcare to the public, reinforcing the foundation for a healthy life [10]

Group 1 - The 138th China Import and Export Fair (Canton Fair) is being held from today until November 4, featuring a record number of exhibitors and exhibition areas, including new zones for smart healthcare and service robots [1][2] - The Shenzhen delegation includes 1,374 enterprises with a total of 3,197 exhibition booths, of which 48% are recognized as national-level specialized and innovative "little giant" enterprises, national manufacturing single champions, and high-tech enterprises [1] - The total number of booths at this year's fair reaches 74,600, with over 32,000 participating enterprises, marking a historical high, and more than 3,600 companies are debuting at the event [1] Group 2 - The newly established smart healthcare zone features 47 companies showcasing surgical robots, smart monitoring, and wearable devices [2] - The fair will host over 600 new product launch events and 13 thematic forums, enhancing the networking opportunities for participants [2] - Major industry leaders are participating, including companies like Zhiyuan Robotics and Shenzhen Pudu, showcasing innovative solutions across various application scenarios [2]

Core Viewpoint - Tianzhihang (688277.SH) reported a significant increase in revenue for the first half of 2025, but continued to face net losses, indicating ongoing challenges in profitability despite revenue growth [1] Financial Performance - The company achieved operating revenue of 125 million yuan, representing a year-on-year increase of 114.89% [1] - The net profit attributable to shareholders was -57.55 million yuan, compared to -46.49 million yuan in the same period last year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was -79.43 million yuan, slightly improved from -81.39 million yuan year-on-year [1] - The net cash flow from operating activities was -54.18 million yuan, an improvement from -88.35 million yuan in the previous year [1] Historical Financial Data - From 2018 to 2024, Tianzhihang's operating revenues fluctuated, with figures of 127 million yuan, 230 million yuan, 136 million yuan, 156 million yuan, 156 million yuan, 210 million yuan, and 179 million yuan respectively [2] - The net profit attributable to shareholders over the same period showed consistent losses, with figures ranging from -0.86 million yuan to -121 million yuan [2] - The net profit after deducting non-recurring gains and losses also reflected losses, with amounts from -39.10 million yuan to -170 million yuan [2] - The net cash flow from operating activities varied, with positive cash flow in 2018 and 2019, followed by negative cash flow in subsequent years [2] Fundraising Activities - Tianzhihang raised a total of 504.48 million yuan through its initial public offering, with a net amount of approximately 448.30 million yuan after deducting issuance costs [3] - The company planned to use the raised funds for various projects, including the development of orthopedic surgical robots and the establishment of an operational center [3] - In 2023, the company issued shares to specific investors, raising approximately 370.20 million yuan, with a net amount of about 359.76 million yuan after expenses [4] - The total amount raised by Tianzhihang from both fundraising activities reached approximately 875 million yuan [4]

Core Insights - The 92nd China International Medical Equipment Fair (CMEF) commenced in Guangzhou, showcasing over 3,000 companies and more than 10,000 new medical device products, emphasizing the theme of "Health, Innovation, Sharing" [1] Group 1: AI and Medical Devices - The integration of artificial intelligence is transforming the medical device industry, becoming a core driver for industry upgrades [2] - The CMEF features 28 thematic exhibition areas focusing on smart technology applications, domestic core component production, international cooperation, and comprehensive health management [2] - Highlights include innovative solutions in imaging, medical robotics, and rehabilitation technologies, attracting significant attention from attendees [2] Group 2: Health Consumption Trends - The "Healthy China 2030" strategy is driving an upgrade in health consumption, marking a golden period for the health industry [3] - The introduction of the International Health Lifestyle Exhibition aims to create new consumption scenarios that integrate medical, preventive, nurturing, and care services [3] - The event includes a "Health Lifestyle Carnival" designed to provide immersive experiences related to health management and quality of life [3] Group 3: Industry Ecosystem Development - CMEF serves as a pivotal platform for product and technology exchange, fostering the integration of production and exhibition [4] - The event includes sub-brand exhibitions covering the entire medical health industry chain, focusing on design, manufacturing, and service ecosystems [4] - Innovations in rehabilitation and personal health technologies are showcased, promoting the integration of smart health solutions with the aging population [4] Group 4: Pet Health Sector Growth - The AHC Pet Health Exhibition highlights advancements in pet oncology screening and rehabilitation devices, promoting the transfer of human medical technologies to pet healthcare [5] Group 5: Forums and Industry Insights - Over 60 high-level forums and thematic meetings are held during the event, discussing key topics such as international cooperation, policy regulations, and market expansion [6] - The release of the "China Medical Device Innovation Research White Paper" provides insights into global medical device research output and competitive landscape from 2015 to 2024 [6] - The event aims to enhance the international market penetration of Chinese medical devices, leveraging Guangdong's comprehensive industry ecosystem [6]

第22届中国—东盟博览会正在广西南宁举行，首次设立的人工智能专馆成为全场焦点。记者在采访中发 现，AI正在成为中国与东盟合作的新赛道，也展现出区域产业链协同的广阔空间。 走进人工智能展馆，记者最直观的感受就是"科技感拉满"。从消费级科技产品到工业级智能装备，覆盖 服务、制造、能源等多个领域。一款透明屏吸引了不少外宾驻足。 印度尼西亚专业观众安东尼·哈迪：我觉得很震撼，因为两个国家的人可以无障碍地沟通，而且是实时 的，特别精准。我觉得很先进。 AI透明屏产品运营经理王晨：可以支持37种语种，它主要是为一些公共服务的窗口，比如说像机场， 酒店，因为会有很多的外国游客，就可以完美地去解决沟通的问题。 记者注意到，展馆里高科技消费产品的人气格外高。一款集成显示、摄像和AI翻译的智能眼镜，针对 东盟多语种环境优化了算法，支持印尼语、泰语等互译。而在另一侧，骨科手术机器人展台也同样吸引 了众多关注。 参展商钟赣汶：可以看得到，我们设计好螺钉之后，它的机械臂能够快速执行到指定位置，能够沿着这 个方向精准快速把螺钉给安装到位。 企业负责人告诉记者，中国有领先的技术，东盟有广阔的市场，但过去中国企业出海往往会面临市场准 入问题 ...

走进人工智能展馆，记者最直观的感受就是"科技感拉满"。从消费级科技产品到工业级智能装备，覆盖服务、制造、能源等多个 领域。一款透明屏吸引了不少外宾驻足，试用之后他们表示，通过这款产品，两个国家的人可以无障碍实时沟通，很先进。相关负责 人介绍，这款产品可以支持37种语种，主要为一些公共服务的窗口，比如说机场、酒店，因为会有很多的外国游客，可以完美解决沟 通的问题。 央视网消息：第22届中国—东盟博览会正在广西南宁举行，首次设立的人工智能专馆成为全场焦点。记者在采访中发现，AI正在 成为中国与东盟合作的新赛道，也展现出区域产业链协同的广阔空间。 参会展商表示，为很多对外贸易企业提供服务，对各个国家的诉求进行AI的分析，涉及在境外的相关法律法规。在服务贸易的合 作平台帮助下，让国内的企业更好地"走出去"，更方便地"走出去"。 记者注意到，展馆里高科技消费产品的人气格外高。一款集成显示、摄像和AI翻译的智能眼镜，针对东盟多语种环境优化了算 法，支持印尼语、泰语等互译。而在另一侧，骨科手术机器人展台也同样吸引了众多关注。 企业负责人告诉记者，中国有领先的技术，东盟有广阔的市场，但过去中国企业"出海"往往会面临市场准入问 ...