股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 第 1 頁 共 10 頁 v 1.2.0 公司名稱: 雍禾醫療集團有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 02279 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 20,000,000,000 | USD | | 0.0000025 USD | | 50,000 | | 增加 / 減少 (-) | | | | | | USD | | | | 本月底結存 | | | 20,000,000,000 | USD | | 0.0000025 USD | | 50,000 | 本月底 ...

Core Insights - The report provides an analysis of the hair medical industry in China, highlighting key players, market share, and competitive dynamics. Group 1: Industry Overview - The main listed companies in the hair medical industry include Yonghe Medical, Xianju Pharmaceutical, ST Meigu, Yisheng Pharmaceutical, Zhendong Pharmaceutical, International Medical, Kanghui Pharmaceutical, Kangyuan Pharmaceutical, Kang Enbei, and Furuida [1]. - The competitive landscape shows that companies with registered capital exceeding 1.5 billion yuan are in the leading position, while those with capital between 500 million to 1.5 billion yuan are in the first tier, and companies with less than 500 million yuan are in the second tier [1]. Group 2: Regional Distribution - Representative enterprises in the hair medical industry are mainly distributed across provinces such as Shaanxi, Zhejiang, Jilin, Liaoning, Shandong, and Jiangsu, with a notable concentration in Shaanxi and Zhejiang [4]. Group 3: Market Dynamics - As of November 21, 2025, leading hair transplant chains like Yonghe Hair Transplant, Dama Micro-needle (Kefa Source), and Bilian Sheng have over 30 stores each [7]. - The market for Minoxidil, a common hair growth medication, is highly concentrated, with the top three brands holding over 97% market share in online pharmacies as of 2024 [10][14]. Group 4: Competitive Analysis - The hair transplant sector has many institutions with low concentration, leading to intense competition, while the market for Minoxidil is dominated by a few key players [12][16]. - The threat of new entrants is moderate due to certain industry barriers, while substitutes like wigs and hair tattoos pose a threat due to their lower cost and quicker application [16].

Group 1 - The core point of the article is that Yonghe Medical (02279.HK) experienced a significant intraday increase, rising over 18% at one point and closing with a gain of 13.79% at HKD 1.98 [1] - The trading volume for Yonghe Medical reached HKD 2.2049 million [1]

Core Viewpoint - Yonghe Medical (02279) experienced a significant stock price increase, reaching a high of 2.1 HKD, marking the highest level since October of the previous year, driven by positive developments in its business operations and international collaborations [1] Company Summary - Yonghe Medical reported a revenue of 862 million RMB for the first half of the year, with a net profit attributable to shareholders of 27.91 million RMB, indicating a turnaround from previous losses [1] - As of June 30, 2025, the company operates 63 hair transplant medical institutions across 61 cities in China, making it the largest and most widely covered chain in the hair medical sector [1] - The total number of consumers served by the company reached 64,845 in the six months ending June 30, 2025, reflecting strong demand for its services [1] Industry Summary - The visit from the French Embassy's medical team to Yonghe Medical's Beijing headquarters highlights the company's competitive advantages in hair transplant and hair care services, as well as its strategic location near the embassy district [1] - The company expressed a willingness to enhance cooperation with the embassy, indicating potential for future partnerships and growth in the international market [1] - CICC previously noted that optimized store layout and refined marketing strategies have contributed to improved operational efficiency and profitability for the company [1]

Core Viewpoint - Yonghe Medical (02279) has seen a significant stock price increase, reaching a high of 2.1 HKD, marking the highest level since October of the previous year, driven by positive developments in its business and international collaborations [1] Group 1: Company Developments - Yonghe Medical's stock price rose over 18% during trading, with a current increase of 13.79% to 1.98 HKD and a trading volume of 2.2049 million HKD [1] - A delegation from the French Embassy in China visited Yonghe Medical's Beijing headquarters to experience AI scalp detection and hair care services, highlighting the company's strengths in hair transplant and care [1] - The company expressed a willingness to provide hair medical services to embassy staff, indicating potential for future collaboration [1] Group 2: Financial Performance - For the first half of the year, Yonghe Medical reported revenue of 862 million RMB and a net profit attributable to shareholders of 27.913 million RMB, marking a turnaround from previous losses [1] - As of June 30, 2025, the company operates 63 hair transplant medical institutions across 61 cities in China, making it the largest and most widely covered chain in the hair medical sector [1] - The total number of consumers served by the company reached 64,845 in the first half of the year, reflecting its operational scale and market presence [1] - CICC previously indicated that optimized store layout and refined marketing strategies have contributed to improved operational efficiency and profitability [1]

Core Viewpoint - Yonghe Medical (2279.HK) experienced significant trading activity today, with its stock price surging over 20% to reach HKD 2.1, marking a new high since October 2025 [1] Group 1 - The stock price increase indicates strong market interest and potential investor confidence in Yonghe Medical [1] - The rise in stock price reflects a positive trend for the company, achieving a three-month high [1]

Core Viewpoint - Yonghe Medical (2279.HK) experienced a significant stock price increase, rising over 20% to HKD 2.1, marking a new high since October 2025, driven by a visit from French embassy medical officials who recognized the company's advantages in hair transplant and hair care services [1]. Group 1 - The visit from the French embassy's medical officer and team included an experience of AI scalp detection and hair care services, highlighting Yonghe Medical's leading position in the hair transplant industry [1]. - The French officials expressed interest in how short-term visa holders could coordinate hair transplant and post-operative care within their visa period, indicating potential demand from overseas clients [1]. - Yonghe Medical's Senior Vice President, Zhang Hui, emphasized the strategic location of the Beijing clinic near the embassy area, which enhances its capability to serve embassy staff and international clients [1].

Core Viewpoint - Yonghe Medical (2279.HK) experienced a significant stock price increase, rising over 20% to HKD 2.1, marking a new high since October 2025 [1] Group 1: Company Developments - A delegation from the French Embassy in China, including medical officials, visited Yonghe Medical's Beijing headquarters to experience AI scalp detection and hair care services [1] - The embassy officials expressed interest in how short-term visa holders from France could manage hair transplant and post-operative care during their visa period [1] - Yonghe Medical's Senior Vice President, Zhang Hui, highlighted the company's strategic location near the embassy district and its capabilities in serving international clients [1] Group 2: Future Collaboration - Both Yonghe Medical and the French Embassy officials expressed a willingness to explore deeper cooperation in the future [1]

Core Insights - The hair medical service industry is experiencing significant growth driven by increasing consumer focus on appearance and aesthetics, with a projected market size of 270.8 billion yuan by 2025 and 296.8 billion yuan by 2026 [1][9] Industry Definition and Classification - Hair medical services address various hair issues such as hair loss, alopecia, and scalp conditions, categorized into surgical hair transplant services and non-surgical hair care services [2][4] Market Size and Growth - The hair medical service market in China is expected to grow to 270.8 billion yuan by 2025, with hair transplant services accounting for 238.9 billion yuan (88.22%) and hair care services for 31.9 billion yuan (11.78%) [9] - By 2026, the market is projected to reach 296.8 billion yuan, with hair transplant services at 259.6 billion yuan (87.47%) and hair care services at 37.2 billion yuan (12.53%) [9] Industry Chain - The upstream of the hair medical service industry includes equipment for hair transplants and hair care, while the midstream consists of service providers such as hair transplant and care institutions. The downstream involves marketing through various online and offline channels targeting hair loss patients [10] Industry Development History - The hair medical service industry in China has evolved through four stages: technology introduction, market emergence, standardized development, and rapid growth, spanning over 100 years [11] Competitive Landscape - The market is characterized by a mix of national chain private hair transplant institutions, medical beauty institutions, public hospital transplant departments, and other non-chain private institutions, with national chains holding about 25% market share [12] - Key players include Yonghe Medical, Dama Micro-needle Transplant, and others in the hair transplant sector, while companies like SanSheng Pharmaceutical and Zhendong Pharmaceutical dominate the hair care market [12] Company Profiles - Yonghe Medical, established in 2010, is the largest one-stop hair service provider in China, offering a tiered service system to cater to diverse patient needs [14][15] - Zhendong Pharmaceutical is a major player in the hair care market, with its Minoxidil product leading in market share and recognized for its safety and effectiveness [13] Future Outlook - The rise of the beauty economy is shifting the focus of hair medical services from merely restoring function to enhancing aesthetics, leading to a broader demand for comprehensive hair management solutions [16][17] - The industry is expected to evolve towards a more integrated, personalized, and routine approach to hair health management, with an emphasis on professional training and standardized treatment processes [17]

Group 1 - The core viewpoint of the article emphasizes the importance of digitalization in transforming the hair medical industry, addressing challenges such as reliance on individual doctor experience and opaque service processes [2][3] - The company has strategically placed digitalization and intelligence at its core, utilizing AI and big data to reconstruct the entire chain of diagnosis, management, and service [2] - The implementation of a new generation of intelligent scalp detection equipment allows for precise analysis of key indicators, significantly improving the diagnostic accuracy for complex cases and providing a solid foundation for personalized treatment plans [2] Group 2 - The company has developed a transparent and trustworthy service loop through its proprietary "He Fan" chain medical management system, which integrates a traceable material sourcing system to ensure medical safety and quality [3] - The AI knowledge base engine optimizes service response and resource allocation, enhancing overall operational efficiency and patient satisfaction [3] - The innovative "Sky Net + Ground Net" model merges online and offline medical services, allowing patients in less accessible areas to complete initial diagnoses online and efficiently transition to offline treatment [5] Group 3 - The systematic digitalization efforts of the company have transcended the application of single tools, forming core capabilities that drive standardization of medical quality, transparency of service processes, and optimization of resource allocation [5] - This strategic choice not only enhances the company's experience and builds barriers but also provides a feasible digital paradigm for the entire hair medical industry to develop towards higher levels of standardization [5]