登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：688057 证券简称：金达莱公告编号：2026-002 江西金达莱环保股份有限公司 对外投资进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性依法承担法律责任。 ■ 重要内容提示： 一、对外投资基本情况 江西金达莱环保股份有限公司（以下简称"公司"）于2025年12月19日召开第五届董事会第十一次会议， 审议并通过了《关于对外投资的议案》，具体内容详见公司2025年12月20日披露于上海证券交易所官网 （www.sse.com.cn）的《对外投资公告》（公告编号：2025-034）。 二、本次对外投资要素变更情况 公司拟与济慈医疗及其相关股东签订补充协议，对《云南济慈医疗科技有限公司增资协议》部分内容进 行修改，主要变动情况如下： 各方约定本次投资资金调整为分三阶段投入： 第一阶段：济慈医疗完成与增资相关的工商变更登记备案、将公司登记为增资股权的登记股东后，公司 向济慈医疗投入人民币150,000,000.00元； 第二阶段：第一阶段列示的研发产品获取任意一项医疗卫生机构开 ...

证券代码：688057 证券简称：金达莱 公告编号：2026-002 江西金达莱环保股份有限公司对外投资进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： | 投资标的名称 | 云南济慈医疗科技有限公司（以下简称"济慈医疗"） | | | --- | --- | --- | | 投资金额（万元） | 28,000 | | | 投资进展情况 | 完成 √交易要素变更 | 终止 | | 特别风险提示（如有） | 济慈医疗实际经营中可能受宏观经济、行业环境、市场变 | | | | 化等因素的影响，存在一定经营风险、财务风险、研发风险、 | | | | 政策风险等，未来业绩及收益仍存在不确定性。公司将密切关 | | | | 注投资事项的后续进展，积极防范和化解可能面临的各类风 | | | | 险，并按要求及时履行信息披露义务。敬请广大投资者谨慎决 | | | | 策，注意投资风险。 | | 一、对外投资基本情况 江西金达莱环保股份有限公司（以下简称"公司"）于2025年12月19日召开 第五届董事会第十一 ...

金达莱公告称，公司拟投资2.8亿元的云南济慈医疗科技有限公司，投资要素发生变更。投资资金分三 阶段投入，在完成工商登记备案、获取IIT许可、IND批准环节依次投入1.5亿元、0.5亿元。此外，公司 拟与胡敏达成一致行动人协议。上述事项已通过董事会审议。济慈医疗存在经营、财务、研发、政策等 风险，未来业绩及收益不确定。 ...

Group 1 - The stock price of Jindalai (688057) closed at 12.65 yuan on January 9, 2026, reflecting a 3.52% increase from the previous week's price of 12.22 yuan [1] - The highest intraday price for Jindalai on January 9 was 12.71 yuan, while the lowest intraday price on January 5 was 12.23 yuan [1] - Jindalai's current total market capitalization is 3.491 billion yuan, ranking 70th out of 106 in the environmental governance sector and 4329th out of 5182 in the A-share market [1] Group 2 - The company plans to invest 280 million yuan in Jici Medical, acquiring a 34.00% stake, focusing on autologous cell technology research and development [2] - Jindalai is also increasing its investment in Zhongke Hongtai to enter the vascular interventional surgical robot field, with products currently undergoing special review procedures for national innovative medical devices [2]

Core Viewpoint - The recent investment by Jindalai (688057.SH) in stem cell company Jici Medical has raised questions from the stock exchange regarding the reasonableness of Jici Medical's immediate revenue generation and the significant increase in transaction valuation [1] Group 1: Revenue Generation - Jici Medical, established in August 2025, reported revenues of 8.6911 million yuan and 11.2273 million yuan for 2024 and the first three quarters of 2025, respectively, primarily from patent licensing and technical services [1] - The revenue sustainability and customer concentration risk have been highlighted, with the largest customer, an affiliate named Zhendijici, contributing 89.75% of revenue in 2024 and 99.02% in the first three quarters of 2025 [1] - The company plans to reduce dependency on this major client by expanding its partnerships with other institutions in the future [1] Group 2: Valuation Concerns - The transaction valuation for Jici Medical is set at 543.5961 million yuan, significantly higher than its book net assets, primarily due to the valuation of 30 unaccounted patents using the income approach [1] - The assessment assumes that revenue from the rFib cell storage business will grow from 250 million yuan in 2026 to 5 billion yuan by 2036, with a royalty rate for the patented technology set at 17.13% [1] - The company emphasized that this valuation is lower than comparable industry cases, such as Betta Pharmaceuticals' acquisition of RepuMed, which had a static price-to-sales ratio of 989 times, while this transaction is at 62.54 times [1]

Core Viewpoint - Jindalai (688057) is making strategic investments in JiCi Medical and Zhongke Hongtai to enhance its presence in the fields of autologous cell technology and vascular interventional surgical robots, respectively [1] Group 1: Stock Performance - As of January 7, 2026, Jindalai's stock closed at 12.45 yuan, down 0.16% from the previous trading day, with a total market capitalization of 3.436 billion yuan [1] - The stock opened at 12.54 yuan, reached a high of 12.58 yuan, and a low of 12.42 yuan, with a trading volume of 15.0675 million yuan and a turnover rate of 0.44% [1] Group 2: Investment Announcements - Jindalai plans to invest 280 million yuan in JiCi Medical, acquiring a 34.00% stake; JiCi Medical focuses on the research and development of autologous cell technology and holds multiple invention patents, led by Professor Hu Min [1] - The investment in Zhongke Hongtai aims to establish a foothold in the vascular interventional surgical robot sector, with related products currently undergoing special review procedures for national innovative medical devices [1] - The announcement also details the purpose of the investments, valuation basis, synergistic effects, and risk management measures [1]

Core Viewpoint - Jiangxi Jindalai Environmental Protection Co., Ltd. is expanding its business into the biomedicine and medical robotics sectors due to the slowdown in the environmental protection industry and increasing external competition, aiming to cultivate new profit growth points [1][2]. Group 1: Investment Strategy - The company is making strategic investments in unlisted companies in the biomanufacturing and health sectors, specifically targeting Yunnan Jici Medical Technology Co., Ltd. and Beijing Zhongke Hongtai Medical Technology Co., Ltd., which focus on stem cell technology and vascular interventional surgical robots, respectively [2][3]. - The investments are aligned with national priorities for strategic emerging industries, reflecting the company's proactive response to market conditions [2]. Group 2: Jici Medical Overview - Jici Medical specializes in autologous stem cell therapy, particularly focusing on rFib cell research and clinical transformation, addressing the growing demand for elderly healthcare solutions [3][4]. - The global stem cell industry was valued at $21.06 billion in 2022, with China's market at approximately 104.2 billion RMB, showing a compound annual growth rate of 56.79% [3]. Group 3: Jici Medical's Technology and Financials - Jici Medical's core technology involves reprogramming skin fibroblasts into induced mesenchymal stem cells, with over 30 clinical indications under investigation [4]. - The company has a projected revenue of 8.69 million RMB in 2024, with an asset valuation of 543.6 million RMB for the investment, reflecting a high appraisal value due to the inclusion of unrecorded patent technologies [5]. Group 4: Zhongke Hongtai Overview - Zhongke Hongtai focuses on the development of vascular interventional surgical robots, with a significant market potential as China is expected to conduct approximately 7 million vascular interventional surgeries in 2024 [6][7]. - The global market for vascular robots is projected to reach $4.48 billion by 2030, with the Chinese market estimated at 5.82 billion RMB [6]. Group 5: Investment Logic and Risk Control - The investment in Zhongke Hongtai is seen as a strategic move, with the company contributing 30 million RMB for a 10% stake, reflecting the advancements made in team building and product development [7]. - To ensure investment safety, the agreement includes conditions for staged payments and a buyback option if regulatory approvals are not obtained by the end of 2027 [7]. Group 6: Financial Health - The company maintains a strong financial position with sufficient working capital, reporting current assets of 3.17 billion RMB and a debt ratio of 10.20% as of September 30, 2025 [8]. - The investment will not adversely affect the company's main business operations or debt servicing capabilities [8].

证券代码：688057 证券简称：金达莱 公告编号：2026-001 江西金达莱环保股份有限公司 关于对外投资事项问询函回复的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 上市公司主营业务为生活污水和工业废水的处理，主要产品包括水污染治理 设备、水环境整体解决方案和水污染治理项目运营。公告显示，济慈医疗的主营 业务为自体细胞技术的研发与应用。请公司补充说明：（1）济慈医疗所处细分 行业的市场前景、政策环境及监管情况、竞争格局、技术路线及应用情况，结合 济慈医疗核心团队任职情况及合规性、技术储备及先进性、研发能力、客户资源 等情况，分析说明济慈医疗的行业地位和相较于主要竞争对手的竞争优劣势；（2） 结合上市公司的主业经营情况及发展战略等，补充说明上市公司和济慈医疗是否 具有业务协同性及其具体表现，并说明本次投资的原因及合理性。 【回复】 一、济慈医疗所处细分行业的市场前景、政策环境及监管情况、竞争格局、 技术路线及应用情况，结合济慈医疗核心团队任职情况及合规性、技术储备及 先进性、研发能力、客户资源等情况，分析说明济 ...

Core Viewpoint - Jindalai (688057) has seen a stock price increase of 3.35% this week, closing at 12.35 yuan, with a market capitalization of 3.409 billion yuan as of December 26, 2025 [1] Company Announcements - Jindalai plans to invest 30 million yuan of its own funds to acquire a 10% stake in Beijing Zhongke Hongtai Medical Technology Co., Ltd [1] - The target company specializes in the research, production, and sales of medical robotics technology and systems, and is incubated by the Institute of Automation, Chinese Academy of Sciences, possessing strong research capabilities and multiple independent intellectual property rights [1] - The products of the target company have entered the special review process for innovative medical devices by the National Medical Products Administration [1] - This investment is a non-proportional capital increase and does not constitute a major asset restructuring or related party transaction [1] - The purpose of this investment is to optimize the industrial structure and cultivate new profit growth points, with no change in the scope of the company's consolidated financial statements after the investment [1]

Core Viewpoint - Company Jindalai (688057) is diversifying into the medical sector by investing in two companies focused on stem cell research and medical robotics, following a decline in its performance since its IPO. The market reacted positively to these announcements, with a stock price increase of over 11% on December 22 [1][4]. Investment Details - Jindalai plans to invest CNY 280 million in Yunnan Jici Medical Technology Co., acquiring a 34% stake, and CNY 30 million in Zhongke Hongtai Medical Technology Co., acquiring a 10% stake [3][4]. - Jici Medical specializes in autologous cell technology and has conducted safety and efficacy validations for over 30 clinical indications [3]. - Zhongke Hongtai focuses on medical robotics and has completed clinical trials for its vascular intervention surgery robot [3][4]. Financial Performance - Jindalai has faced declining revenues and profits since its IPO, with revenues dropping from CNY 9.71 billion in 2020 to CNY 4.09 billion in 2024, and net profits decreasing from CNY 3.87 billion to CNY 1.37 billion in the same period [9]. - For the first three quarters of 2024, Jindalai reported revenues of approximately CNY 236 million, a 23.5% year-on-year decline, and net profits of CNY 75 million, down 30.14% [9]. Risks and Concerns - Both target companies present financial risks: Zhongke Hongtai has not yet achieved profitability, while Jici Medical has negative net assets, indicating it is in a state of insolvency [6][7]. - The investments are made at a premium, with Jici Medical's valuation at CNY 544 million, raising concerns about the potential for future returns [8]. - The medical technology sector is characterized by high barriers to entry and significant R&D costs, which may pose challenges for Jindalai, a company primarily focused on environmental services [10].