格隆汇1月29日丨嘉和美康(688246.SH)公布，经公司财务部门初步测算，预计2025年年度实现归属于母 公司所有者的净利润将出现亏损，实现归属于母公司所有者的净利润为人民币-2.8亿元至-2.4亿元。预 计2025年度归属于母公司所有者的扣除非经常性损益的净利润为人民币-2.86亿元至-2.46亿元。 报告期内，受整体经济周期波动影响，地方财政给予公立医院进行医疗信息化建设的财政预算支持减少 或延迟到位，导致部分医院采购需求被压缩或延后；此外，部分医院在全面执行医保控费改革后收入减 少，利用自有资金进行的医疗信息化建设需求被压缩，导致公司收入进一步下滑。同时，面向"十五 五"人工智能应用市场机会，公司在 2025 年加大了对数据和人工智能业务的产品开发投入，导致报告期 内亏损。 ...

Core Viewpoint - Jiahe Meikang has announced an annual performance forecast indicating a projected net loss attributable to shareholders of the listed company ranging from -240 million to -280 million yuan for the year 2025 [1] Financial Performance - The expected net profit excluding non-recurring gains and losses for 2025 is projected to be between -246 million and -286 million yuan [1] - The company is experiencing a decline in revenue due to reduced or delayed fiscal budget support from local governments for public hospitals' medical information construction [1] Market Conditions - The overall economic cycle fluctuations have led to a compression or postponement of procurement demand from hospitals [1] - The implementation of medical insurance cost control reforms has resulted in decreased income for some hospitals, further compressing the demand for medical information construction funded by their own resources [1] Strategic Initiatives - In response to opportunities in the "14th Five-Year" artificial intelligence application market, the company plans to increase investment in product development for data and artificial intelligence businesses in 2025 [1] - This strategic shift is contributing to the company's losses during the reporting period [1]

Group 1 - The core viewpoint of the news is that 嘉和美康 experienced a decline in stock price and significant changes in financing and shareholder structure, indicating potential challenges in its financial performance and market position [1][2]. Group 2 - On January 22, 嘉和美康's stock price fell by 1.56%, with a trading volume of 190 million yuan. The financing data showed a net buying of 2.39 million yuan, with a total financing balance of 219 million yuan, which is 5.88% of its market capitalization [1]. - The company’s financing balance is at a high level, exceeding the 90th percentile of the past year, indicating increased reliance on financing [1]. - 嘉和美康's main business revenue composition includes software development and technical services (42.39%), self-developed software sales (37.64%), and sales of purchased software and hardware (19.86%) [1]. Group 3 - As of December 10, 嘉和美康 had 8,282 shareholders, a decrease of 5.61%, while the average circulating shares per person increased by 5.94% [2]. - For the period from January to September 2025, 嘉和美康 reported a revenue of 330 million yuan, a year-on-year decrease of 30.67%, and a net profit attributable to shareholders of -174 million yuan, a significant decline of 320.68% [2]. - Among the top ten circulating shareholders, 长城消费增值混合A reduced its holdings by 410,000 shares, while 易方达新常态混合 exited the top ten list [2].

Economic Information - Several smartphone manufacturers, including Xiaomi, OPPO, vivo, and Transsion, have lowered their annual shipment forecasts, with Xiaomi and OPPO reducing by over 20%, vivo by nearly 15%, and Transsion to below 70 million units [2] - Silver prices have surged over 50% in one month and over 150% in six months, impacting the photovoltaic industry, which consumes a significant amount of silver. The cost of raw materials for solar cells has increased by nearly 20% due to rising silver prices [2] - The company Xibei is expected to incur cumulative losses exceeding 600 million yuan from September 2025 to March 2026, leading to the closure of 102 stores, accounting for 30% of its total outlets [2] Company Alerts - Shenghong Technology anticipates a net profit increase of 260%-295% year-on-year for 2025, although Q4 performance fell short of expectations [4] - Cambridge Technology expects a net profit increase of 51%-67% year-on-year for 2025, with Q4 results also below expectations [4] - Multiple companies, including Weimait and Youyan Silicon, have announced plans to reduce their shareholdings by up to 4.98% and 3% respectively [4][11] Overseas Alerts - The three major U.S. stock indices collectively declined last Friday, with the Nasdaq China Golden Dragon Index dropping by 1.15%. Notable declines were seen in Chinese stocks such as Alibaba and JD.com [5] - The European Union is considering imposing tariffs on U.S. goods worth 93 billion euros in response to U.S. tariffs on eight European countries, which could take effect on February 6 if no agreement is reached [5]

证券代码：688246 证券简称：嘉和美康 公告编号：2026-002 嘉和美康（北京）科技股份有限公司 截至本公告披露日，嘉和美康（北京）科技股份有限公司（以下简称"嘉和 美康"或"公司"）股东弘云久康数据技术（北京）有限公司（以下简称"弘云 久康"）持有公司股份 8,485,931 股，占公司股份总数的 6.17%。上述股份为嘉 和美康首次公开发行并上市前取得的股份，且已于 2022 年 12 月 14 日起上市流 通。 减持计划的主要内容 公司于 2026 年 1 月 15 日收到弘云久康出具的《关于弘云久康数据技术（北 京）有限公司减持计划的告知函》，因自身流动性需求，股东弘云久康计划自 2026 年 2 月 9 日起 3 个月内根据市场情况通过集中竞价方式减持其持有的公司股份合 计不超过 1,375,855 股，即不超过公司总股本的 1%。 | 股东名称 | 弘云久康数据技术（北京）有限公司 | | | --- | --- | --- | | 股东身份 | 控股股东、实控人及一致行动人 | □是√否 | | | 直接持股 5%以上股东 | √是□否 | | | 董事、监事和高级管理人员 | □是√否 ...

格隆汇1月16日丨嘉和美康(688246.SH)公布，公司于2026年1月15日收到弘云久康出具的《关于弘云久 康数据技术（北京）有限公司减持计划的告知函》，因自身流动性需求，股东弘云久康计划自2026年2 月9日起3个月内根据市场情况通过集中竞价方式减持其持有的公司股份合计不超过137.59万股，即不超 过公司总股本的1%。 ...

(责任编辑：关婧) 嘉和美康首次公开发行股票募集资金总额13.62亿元，扣除发行费用后，募集资金净额为12.40亿 元。嘉和美康最终募集资金净额比原计划多4.90亿元。嘉和美康于2021年12月9日披露的招股说明书显 示，该公司拟募集资金7.50亿元，分别用于专科电子病历研发项目（急诊急救方向、妇幼专科方向）、 综合电子病历升级改造项目、数据中心升级改造项目、补充营运资金。 嘉和美康首次公开发行股票的发行费用总额为1.21亿元，其中，保荐及承销费用9782.30万元。 中国经济网北京1月16日讯 嘉和美康(688246.SH)今日股价下跌，截至收盘报29.00元，跌幅7.20%。 目前该股处于破发状态。 嘉和美康于2021年12月14日在上交所科创板上市，发行价格为39.50元/股，发行数量为3446.94万 股，保荐机构（主承销商）为华泰联合证券有限责任公司，保荐代表人为孔祥熙、王琛。 ...

Group 1 - The AI healthcare and AI pharmaceutical sectors experienced significant fluctuations, with notable declines in stock prices [1] - Hongbo Pharmaceutical saw a drop of over 18%, while Nossger fell nearly 15% [1] - Other companies such as International Medicine, Boji Pharmaceutical, Jiahe Meikang, and Berry Genomics also reported declines exceeding 5% [1]

Investment Rating - The report rates the AI healthcare industry as "Overweight," indicating a positive outlook for the sector compared to the overall market performance [2][19]. Core Insights - The launch of OpenAI's ChatGPT Health on January 8, 2026, marks a significant advancement in AI healthcare, integrating user health data for personalized health analysis and recommendations. The user base of Ant Group's AI tool, Antifufu, has also seen substantial growth, surpassing 30 million monthly active users [2][5]. - The report highlights the rapid penetration of AI health management in the consumer market, driven by advancements in technology and user engagement [2][5]. - Key areas of progress include AI consultations, brain-computer interfaces, and AI-driven drug development, with notable advancements from companies like Neuralink and Retro Biosciences [10][13][14]. Summary by Sections AI Health Management - OpenAI's ChatGPT Health integrates personal health data, offering features such as test report interpretation, health management, and personalized diet and fitness recommendations. The tool emphasizes user privacy and data security [4][7]. - Antifufu has integrated over 100 AI functions, connecting users with 300,000 real doctors and over 500 AI avatars, achieving a doubling in user engagement metrics within a month [8][9]. AI Consultation and Drug Development - The report notes significant improvements in AI consultation tools, with various companies like Weining Health and JD Health being highlighted for their contributions to AI health management [15]. - In drug development, OpenAI's collaboration with Retro Biosciences has led to the clinical advancement of a small molecule drug targeting aging, showcasing the potential of AI in pharmaceutical innovation [13][14]. Market Performance and Company Valuations - The report provides a valuation table for key companies in the AI healthcare sector, indicating projected net profits and market capitalizations for 2024 to 2027. For instance, Weining Health is projected to have a market cap of 31 billion with a net profit of 3.5 billion by 2026 [14].

Group 1 - The AI medical concept is experiencing significant activity, with companies like Dean Diagnostics and Hongbo Pharmaceutical hitting the 20% daily limit increase [1] - Meian Health has achieved a three-day consecutive increase, indicating strong market interest [1] - Other companies such as Jiahe Meikang and Chengdu Xian Dao have seen increases of over 10%, while Anbiping, Weining Health, Yaoshi Technology, and Guoxin Health are also following the upward trend [1]