来源：子弹财经 正是在这一行业风口下，2026年1月，上海万怡医学科技股份有限公司（以下简称"万怡医学"）向港交 所主板递交招股书，由光大证券国际担任独家保荐人。 万怡医学在招股书中将自己定义为医学学术、教育及研究综合AI解决方案的头部企业，推出面向医疗 从业者的AI循证平台MedEvidence。 但翻开万怡医学近二十年的发展史，这家公司更底层的身份却是一家地道的会展公司。 "我是拒绝把AI引入我们医生的日常生活。"近期，著名医生张文宏拒绝AI进入病历系统的发言，在医疗 与科技圈激起了不小反应。 张文宏担忧年轻医生若习惯了AI生成的答案，将无法得到临床思维的训练和能力提升。 对此，AI医疗公司百川智能创始人王小川持反对意见，认为张文宏为了保护医生训练体系，而不是从 患者利益出发。 这场关于医生如何应用AI的辩论，揭示了AI医疗行业的另一面：相比于辅助患者端的问诊挂号等功 能，AI在医生端的知识赋能与临床循证支持，正成为一个更吸引人、也更具争议的市场。 随着全球医学文献与临床指南呈爆炸式增长，中国医师数量已从2019年的390万人增长到2024年的510万 人。在信息过载与诊疗压力下，如何利用AI从海量数据中 ...

Core Viewpoint - Shanghai Wanyi Medical Technology Co., Ltd. (Wanyi Medical) has submitted a listing application to the Hong Kong Stock Exchange, with Everbright Securities International as the exclusive sponsor [1]. Company Overview - Wanyi Medical is a leading AI-driven solution provider in mainland China, focusing on empowering physician talent development. According to Frost & Sullivan, the company ranks first in the comprehensive AI solution market for medical academia, education, and research in mainland China as of 2024 [3]. - The company has developed an ecosystem connecting physicians and various healthcare participants to accelerate the dissemination of medical knowledge, enhance physician education, and promote the application of research outcomes [3]. Product and Service Offerings - The company primarily offers two AI-driven revenue-generating solutions through its intelligent productivity tools: 1. A full-process solution for medical academic activities delivered via the MedEvent platform, aimed at facilitating workflow coordination and academic exchange among physicians. 2. Digital solutions for medical learning and education, featuring an interactive learning suite developed through the MedAssistant system, tailored to physicians' specialties, interests, and development goals [4]. - Wanyi Medical's clients include medical societies/associations, academic organizations, pharmaceutical, and medical device companies. The company delivers solutions on a project-based model [4]. Financial Performance - The company has experienced revenue growth and profitability during the reporting period: - Total revenue increased from RMB 238.8 million in 2023 to RMB 271.1 million in 2024, and from RMB 177.8 million for the nine months ending September 30, 2024, to RMB 190.7 million for the nine months ending September 30, 2025 [6][10]. - Net profit figures for the same periods were RMB 29.9 million, RMB 29.7 million, RMB 17.7 million, and RMB 36.9 million, respectively [6]. - The company's profit margins were 12.5%, 11.0%, 9.9%, and 19.3% for the years 2023, 2024, and the nine-month periods ending September 30 for 2024 and 2025 [6]. Shareholder Structure - According to the prospectus, Ms. Ju Yue is the controlling shareholder due to her direct interests in the company and her control over the employee incentive platform [7].

Core Viewpoint - Shanghai Wanyi Medical Technology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with Everbright Securities International as its sole sponsor [1]. Company Overview - Wanyi Medical is a leading AI-driven solution provider in China, focused on empowering physician talent development. It ranks first in the comprehensive AI solution market for medical academia, education, and research in China, according to Frost & Sullivan [4]. - The company has developed an ecosystem connecting physicians and various healthcare participants to accelerate the dissemination of medical knowledge, enhance physician education, and promote the application of research outcomes [4]. - Wanyi Medical offers two main AI-driven revenue-generating solutions: (i) a full-process solution for medical academic activities delivered through the MedEvent platform, and (ii) digital solutions for medical learning and education featuring interactive learning kits tailored to physicians' specialties, interests, and development goals [4]. - The company has launched MedEvidence, a suite of intelligent tools including an AI evidence-based assistant to support end-to-end physician-led research processes, enhancing product functionality and physician engagement [4]. Financial Information - For the fiscal years ending September 30, 2023, 2024, and 2025, the company reported revenues of approximately RMB 239 million, RMB 271 million, and RMB 191 million, respectively [5]. - The annual profits for the same periods were approximately RMB 29.87 million, RMB 29.72 million, and RMB 36.88 million [6]. - The gross profit margins for the fiscal years were recorded at 37.9%, 35.7%, and 42.3% [8]. Market Insights - The market for medical academic, education, and research solutions in China is projected to grow from RMB 66.8 billion in 2019 to RMB 97.6 billion in 2024, with a compound annual growth rate (CAGR) of 7.9%. By 2030, the market size is expected to reach RMB 179.5 billion, with a CAGR of 10.7% from 2024 to 2030 [10]. - The market for comprehensive AI solutions in medical academia, education, and research is expected to grow from RMB 0.9 billion in 2019 to RMB 5.7 billion in 2024, with a CAGR of 45.2%. By 2030, the market is projected to reach RMB 33.9 billion, with a CAGR of 34.8% from 2024 to 2030 [13].

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The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Healife Group Co., Ltd. 上海萬怡醫學科技股份有限公司 (the "Company") (A joint stock limited company incorporated in the People's ...