Core Viewpoint - Bluefan Medical is set to achieve significant milestones in 2025, particularly in its cardiovascular business, which is expected to return to profitability after previous losses due to national procurement policies and global health events [1] Group 1: Financial Performance - The cardiovascular business is projected to generate approximately 1.4 billion yuan in sales for 2025, representing over a 24% increase from the previous year, positioning the company among the industry leaders [2] - Despite a one-time valuation loss of about 120 million yuan related to its investment in Suzhou Tongxin Medical Technology, the core operations of the cardiovascular division remained profitable, demonstrating strong resilience and growth potential [2] Group 2: Investment Opportunities - The company’s investment in Suzhou Tongxin Medical, a leader in the artificial heart sector, is expected to yield substantial returns as the company has submitted its prospectus for an IPO on the Sci-Tech Innovation Board [3] - The core product of Suzhou Tongxin, the CH-VAD, is the first fully magnetic levitation left ventricular assist device approved in China, with significant clinical implantation success, indicating a strategic investment payoff for Bluefan Medical [3] Group 3: Product Development and Market Expansion - Bluefan Medical has made significant strides in product approvals across various cardiovascular segments, including coronary intervention and structural heart disease, enhancing its revenue generation capabilities [4] - The company has received multiple product approvals, including the coronary artery balloon dilation catheter and the coronary artery scoring balloon, which strengthen its market position in the "intervention without implantation" trend [4] - The company’s overseas subsidiary has achieved CE certification for the Lithonic coronary intravascular shockwave therapy system, marking a significant international market entry and reinforcing its global competitive edge [5] Group 4: Sales and Market Strategy - The company has ranked highly in the latest national procurement results for high-value medical consumables, which is expected to enhance its market share in the domestic coronary intervention sector [7] - Bluefan Medical is actively building a "self-research + agency" platform to facilitate the international expansion of domestic innovative medical devices, establishing itself as a key player in the global market [8] - Collaborations with various domestic and international firms are being leveraged to create a robust platform for Chinese innovative medical devices to enter overseas markets [8] Group 5: Overall Growth and Future Outlook - 2025 is identified as a pivotal year for Bluefan Medical, with breakthroughs in profitability, product offerings, and international expansion, positioning the company for high-quality growth and enhanced overall value [8]

资金流向 1月30日主力资金净流出471.28万元；游资资金净流入468.39万元；散户资金净流入2.89万元。 业绩披露要点 业绩预告 蓝帆医疗发布业绩预告，预计2025年全年扣非后净利润亏损7.8亿元至9.8亿元。蓝帆医疗发布业绩预 告，预计2025年全年每股收益亏损0.65元至0.85元。蓝帆医疗发布业绩预告，预计2025年全年归属净利 润亏损6.5亿元至8.5亿元。 截至2026年1月30日收盘，蓝帆医疗(002382)报收于5.92元，上涨0.51%，换手率1.49%，成交量14.87万 手，成交额8883.0万元。 当日关注点 交易信息汇总 2025年年度业绩预告 蓝帆医疗预计2025年度归属于上市公司股东的净利润亏损65,000.00万元至85,000.00万元，较上年同期亏 损扩大。主要原因为健康防护事业部受国际贸易形势影响订单波动、销售价格承压，且发生跨境关联交 易特别纳税调整补税及固定资产减值损失；心脑血管事业部因参股公司苏州同心估值变动确认公允价值 变动损失约1.2亿元；公司总部计提金融负债相关财务费用1亿元。不考虑非经营性事项，心脑血管事业 部经营业绩实现扭亏并贡献利润。本次业绩预告未 ...

Group 1 - The company, Bluestar Medical, disclosed a tax payment and interest totaling approximately 196 million yuan that needs to be repaid [2][3] - The tax adjustment relates to transfer pricing issues concerning cross-border related party transactions from 2020 to 2022 [2] - The company is expected to report a net loss attributable to shareholders ranging from 650 million yuan to 850 million yuan for 2025, indicating an increase in losses compared to 2024 [4] Group 2 - Bluestar Medical is headquartered in Zibo, Shandong, and its main business areas include cardiovascular medical consumables, health protection gloves, and emergency rescue kits [3] - The total amount of tax and interest that Bluestar Medical and its subsidiaries need to repay is approximately 195.86 million yuan as of December 31, 2025 [3]

Core Viewpoint - 蓝帆医疗预计2025年将面临6.5亿至8.5亿元的亏损，但心脑血管事业部的强劲增长和健康防护事业部的毛利率回升为未来业绩改善提供了希望 [1] Group 1: Health Protection Business - 健康防护事业部的亏损扩大主要由于固定资产减值计提和中美经贸关系波动 [2] - PVC手套出口业务在中美经贸磋商后企稳，行业价格在2025年末回升，健康防护业务的毛利率在第四季度回正 [2] - 公司通过"减重"措施集中释放不利因素，为未来利润增长奠定基础 [2] Group 2: Cardiovascular Business - 心脑血管业务的扭亏证明了公司在高值耗材领域的竞争力，冠脉药物球囊在国家集采中的表现优异 [3] - 集采政策的转变为具备创新能力的企业带来长期利好，公司的创新管线储备决定了未来增长潜力 [3] - 公司在冠脉介入领域的多款创新产品获批，CE认证的冠脉血管内冲击波治疗系统为进入全球市场提供机会 [3] Group 3: Overall Outlook - 蓝帆医疗似乎已走出利空阶段，心脑血管业务的增长提供了安全垫，健康防护业务的周期触底提供了弹性空间 [3] - 公司有望迎来业绩与估值的双重提升 [3]

Core Viewpoint - Bluefan Medical (002382) is expected to report a significant increase in net loss for the fiscal year 2025, primarily due to various operational challenges and financial adjustments [1] Group 1: Financial Performance - As of January 30, 2026, Bluefan Medical's stock closed at 5.92 yuan, with a market capitalization of 5.962 billion yuan [1] - The company anticipates a net loss attributable to shareholders ranging from 650 million yuan to 850 million yuan for 2025, which represents an increase in losses compared to the previous year [1] - The health protection division is facing order fluctuations and price pressures due to international trade conditions, contributing to the expected losses [1] Group 2: Specific Loss Drivers - The cardiovascular division incurred a fair value loss of approximately 120 million yuan due to valuation changes in its associate company, Suzhou Tongxin [1] - The company headquarters has recognized financial expenses related to financial liabilities amounting to 100 million yuan [1] - Despite the overall losses, the cardiovascular division is expected to achieve operational profitability, excluding non-operating items [1]

（记者 张明双） 每经AI快讯，蓝帆医疗1月30日晚间发布业绩预告，预计2025年归属于上市公司股东的净利润亏损6.5亿 元~8.5亿元。上年同期归属于上市公司股东的净利润亏损约4.46亿元。 每经头条（nbdtoutiao）——中国无人驾驶"军团"，"武装"阿布扎比 ...

Core Viewpoint - Bluefan Medical has announced an earnings forecast indicating a projected loss per share of 0.65 to 0.85 yuan for the year 2025 [1] Group 1: Reasons for Performance Fluctuation - The company's health protection division is experiencing order fluctuations due to international trade conditions, leading to pressure on sales prices and an overall significant loss for the year despite a recovery in gross margin in Q4 2025 [2] - The health protection division is undergoing a special tax adjustment related to cross-border transactions from 2020 to 2022, resulting in tax payments and interest charges that negatively impact net profit [2] - The cardiovascular division's investment in Suzhou Tongxin Medical Technology Co., Ltd. has resulted in a fair value loss of approximately 120 million yuan due to valuation changes, although this does not involve cash outflow [2] Group 2: Performance of Cardiovascular Division - Excluding the impact of Suzhou Tongxin, the cardiovascular division has shown continuous improvement, achieving a sales revenue of approximately 1.4 billion yuan in 2025, representing over a 24% increase from the previous year [3] - The sales and management expense ratios have further decreased, contributing positively to the division's profitability [3] Group 3: Financial Impacts and Other Notes - The company is expected to incur financial expenses of 100 million yuan in 2025 due to a strategic investment in its subsidiary, which will be recognized as a financial liability [3] - The company has reported a fair value gain of approximately 13 million yuan from investments in peripheral and neuro-interventional fields, contributing to overall profit [3] - The earnings forecast is based on preliminary estimates, with final financial data to be disclosed in the official annual report [3]

南财智讯1月30日电，蓝帆医疗发布2025年年度业绩预告，预计2025年全年归属于上市公司股东的净利 润为亏损6.50亿元—8.50亿元；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利润为亏 损7.80亿元—9.80亿元。2025年由于下述主要原因综合作用，导致公司年度业绩出现波动：1、受国际贸 易形势影响，公司健康防护事业部2025年订单形势波动，同时叠加销售价格承压，尽管2025年第四季度 毛利率已回正，但全年仍呈现明显亏损。此外：①公司健康防护事业部相关主体根据税务部门要求就 2020年度至2022年度跨境关联交易转让定价相关涉税事项开展特别纳税调整自查而产生补缴税款及加收 利息事项，详见公司与本公告同日披露的《关于补缴税款的公告》（公告编号：2026-011），②公司依 据业务及市场情况对健康防护事业部固定资产进行合理减值及报废，以上两项均对健康防护事业部2025 年度净利润有明显负向影响。2、公司心脑血管事业部子公司参股投资的苏州同心医疗科技股份有限公 司（以下简称"苏州同心"）于2025年6月底完成上市前融资，其一级市场估值变动造成公司其他非流动 金融资产确认公允价值变动损失约1.2 ...

关于补缴税款的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 近期，蓝帆医疗股份有限公司（以下简称"公司"）及子公司根据税务部门要求， 对健康防护事业部相关主体2020年度至2022年度跨境关联交易转让定价相关涉税事项 开展特别纳税调整自查，现将有关情况公告如下： 一、基本情况 经自查，公司及子公司需就相关税务事项补缴税款 16,956.09 万元，并对应加收利 息。公司将依法按时履行补缴义务。截至本公告披露日，本次事项不涉及税务行政处罚。 | 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2026-011 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 截至2025年12月31日，公司及子公司就该事项应补缴税款及加收利息合计19,586.00 万元。扣除截至该日已预缴及已预提金额后，剩余应补缴税款及加收利息合计14,088.05 万元将计入2025年度当期损益，预计相应减少公司该年度净利润。最终会计处理结果以 公司正式披露的经审计的2025年度财务报表为准。 ...

| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2026-012 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 1、业绩预告期间：2025 年 1 月 1 日至 2025 年 12 月 31 日 2、预计的业绩： | | | √亏损 □扭亏为盈 □同向上升 □同向下降 | 项 目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：65,000.00 万元–85,000.00 | 亏损：44,560.89 万元 万元 | | 扣除非经常性损益 后的净利润 | 亏损：78,000.00 万元–98,000.00 | 亏损：47,985.76 万元 万元 | | 基本每股收益 | 亏损：0.65 元/股–0.85 元/股 | 亏损：0.44 元/股 | 二、与会计师事务所沟通情况 蓝帆医疗股份有限公司 2025年年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、本期业绩预计情况 1、受国际贸易形势影响，公司健康 ...