Core Viewpoint - The company reported a decline in revenue and a net loss for 2024, primarily due to project delays and the initial phase of new product market expansion, but expects a recovery in profitability by 2025 [1][5]. Financial Performance - The company achieved a revenue of 1.423 billion yuan in 2024, a year-on-year decrease of 11.96%, and a net loss attributable to shareholders of 174 million yuan, compared to a profit of 37 million yuan in the same period of 2023 [1]. - In Q4 2024, revenue was 254 million yuan, down 44.65% year-on-year, with a net loss of 226 million yuan, compared to a loss of 55 million yuan in Q4 2023 [1]. - The overall gross margin for 2024 was 45.18%, a decrease of 1.8 percentage points year-on-year [2]. Revenue Breakdown - Technical service revenue was 567 million yuan, down 6.54% year-on-year, with a gross margin of 54.92%, up 0.90 percentage points [2]. - Software sales revenue was 563 million yuan, down 17.63% year-on-year, with a gross margin of 51.81%, down 4.89 percentage points [2]. Order Growth and Product Development - The company secured 31 software orders worth over 10 million yuan each in 2024, totaling 580 million yuan, compared to 29 orders worth 500 million yuan in 2023 [3]. - The number of new HI-HIS system orders increased to 31, a 41% year-on-year growth from 22 orders in 2023 [3]. - The company completed multiple benchmark projects in various regions, enhancing its implementation capabilities [3]. AI and Product Strategy - The company has established strategic partnerships with over 300 medical institutions in the big data application field, integrating AI technology into medical scenarios [4]. - The AI model "Qizhen Medical Model" is being applied in several core diagnosis and treatment processes, enhancing the company's competitive edge [4]. Future Projections - Revenue forecasts for 2025-2027 are 1.607 billion yuan, 1.821 billion yuan, and 2.071 billion yuan, respectively, reflecting a downward revision due to budget constraints [5]. - The company is assigned a target price of 6.75 yuan based on a 6.5x price-to-sales ratio for 2025, considering the accelerated promotion of the HI-HIS product [5].

Group 1 - The core viewpoint is that the medical information industry is facing both challenges and opportunities in 2024, particularly for the company Chuangyue Huikang, which primarily serves public medical institutions and health management organizations [1] - Chuangyue Huikang's revenue has declined due to the long procurement cycles and uneven distribution of payment and project acceptance caused by the government fiscal budget system [1] - The company is advancing its "Huikang Cloud" strategy, focusing on cloud computing, intelligence, and ecosystem development, with successful bids in several large projects [1] Group 2 - In 2024, the company plans to launch the smart medical assistant MedCopilot, developed in collaboration with Zhejiang University, to create provincial-level grassroots smart medical solutions [1] - For 2025, the company aims to deepen the Huikang Cloud strategy, enhance system stability, optimize implementation processes, and innovate market expansion models [1] - The company is collaborating with HW and iFlytek to achieve technological synergies and promote intelligent upgrades [1]

Group 1 - The core viewpoint of the news is the disclosure of the annual report for 2024 by Chuangye Huikang (300451.SZ), highlighting the institutional investor holdings and changes in share ownership [1] - As of April 14, 2025, a total of 116 institutional investors disclosed holdings in Chuangye Huikang A-shares, with a total holding of 312 million shares, accounting for 20.16% of the total share capital [1] - The top ten institutional investors collectively hold 17.92% of the shares, with a decrease of 1.71 percentage points compared to the previous quarter [1] Group 2 - In the public fund sector, seven public funds reported a decrease in holdings compared to the previous quarter, with a reduction rate of 0.49% [2] - A total of 102 new public funds were disclosed this period, including notable funds such as Fuqua Stable Growth Mixed A and Huaxia CSI 1000 ETF [2] - One pension fund, the Basic Pension Insurance Fund 1205 Combination, reported a slight decrease in holdings compared to the previous quarter [2]

Financial Performance - In 2024, the company achieved a revenue of 1.423 billion CNY, a decrease of 11.96% compared to 2023 [2] - The net profit attributable to shareholders was -173 million CNY, marking the first annual loss since the company's IPO [2] Market and Product Development - The company added 31 new software projects worth 580 million CNY during the reporting period [3] - The number of new HI-HIS orders increased by 41% year-on-year, with 70% of clients being tertiary hospitals [3] Strategic Collaborations - The company partnered with Philips to enhance the CareSync product, integrating various medical technology solutions [4] - A provincial-level integrated healthcare system was developed in Jiangxi, covering 11 cities and 100 counties, managing 19 million residents' electronic health records [9] AI and Technology Advancements - The company launched the MedCopilot smart medical assistant, integrating AI technology for clinical decision support [8] - The BsoftGPT platform successfully integrated with advanced AI models, enhancing the company's capabilities in medical AI applications [8] Future Outlook and Strategic Initiatives - The company aims to strengthen its core business competitiveness and improve project implementation efficiency [10] - Plans to enhance AI model architecture and develop a data-driven intelligent healthcare ecosystem are underway [9] - The company will focus on financial risk management and improve cash flow efficiency through dynamic monitoring of accounts receivable [11]

Core Viewpoint - The company reported a significant decline in performance for the fiscal year 2024, attributing the drop in revenue and net profit to various factors including project delays, increased costs, and extended payment terms from clients [1][4]. Group 1: Financial Performance - For the fiscal year 2024, the company achieved a revenue of 1.423 billion yuan, representing a year-on-year decrease of 11.96% [4]. - The net profit attributable to shareholders was -174 million yuan, marking a shift from profit to loss for the first time since the company went public in 2015 [4]. - The net profit excluding non-recurring gains and losses was -192 million yuan [4]. Group 2: Operational Challenges - The company faced systematic delays in project bidding and implementation from downstream clients, which contributed to the revenue contraction [1]. - The introduction of the new HI-HIS system is still in the market adaptation phase, further impacting revenue [1]. - Increased goodwill impairment, high fixed costs, and extended payment cycles due to client budget controls have put significant pressure on net profit [1]. Group 3: Strategic Initiatives - The company is advancing its "Huikang Cloud Strategy," focusing on integrating artificial intelligence with healthcare services to enhance digital transformation for clients [1]. - Structural reforms in the R&D system are being implemented to build a modular technology architecture and intelligent R&D system, aiming for systematic improvements in R&D efficiency [1]. - Recent collaborations with major tech companies like Alibaba, Tencent, and Huawei have been established to innovate in smart healthcare and AI applications [1]. Group 4: Market Activity - After January 2023, the company's stock price surged from a low of 3.91 yuan to a high of 7.44 yuan, reflecting an increase of over 90% [2]. - The chairman, Zhang Lvzhen, sold 6 million shares for 43.92 million yuan through block trading on March 12 [2]. - The largest shareholder, Ge Hang, has also reduced his stake from 14.28% to 13.57% by selling 15.44 million shares [2]. Group 5: Current Market Status - As of April 14, 2023, the company's stock price closed at 5.66 yuan per share, with a total market capitalization of 8.768 billion yuan [3].

Financial Performance - The company reported a basic earnings per share of -0.1100 yuan for 2024, a decrease of 650% compared to 0.0200 yuan in 2023 [1] - The net profit for 2024 was -1.74 billion yuan, a significant decline of 570.27% from 0.37 billion yuan in 2023 [1] - Operating revenue decreased by 11.94% to 14.23 billion yuan in 2024 from 16.16 billion yuan in 2023 [1] - The return on equity was -3.85% in 2024, down from 0.80% in 2023, reflecting a decline of 581.25% [1] Shareholder Structure - The top ten unrestricted shareholders collectively hold 49,026.46 million shares, accounting for 32.11% of the circulating shares, a decrease of 2,356.35 million shares from the previous period [1] - The largest shareholder, Ge Hang, holds 22,051.92 million shares, representing 14.44% of the total share capital, with no change in holdings [2] - Philips (China) Investment Co., Ltd. is the second-largest shareholder with 15,500.31 million shares, also unchanged [2] Dividend Distribution - The company has announced no distribution or transfer of shares for the current period [1]

证券代码：300451 证券简称：创业慧康 公告编号：2025-018 创业慧康科技股份有限公司（以下简称"公司"）于 2025 年 4 月 14 日召开 第八届董事会第十四次会议与第八届监事会第十次会议，审议通过了《关于作废 部分已授予尚未归属限制性股票的议案》。现将有关事项说明如下： 一、激励计划已履行的相关审批程序 1、2022 年 12 月 14 日，公司召开第七届董事会第二十二次会议，会议审议 通过了《关于<创业慧康科技股份有限公司 2022 年限制性股票激励计划（草案）> 及其摘要的议案》《关于<创业慧康科技股份有限公司 2022 年限制性股票激励计 划实施考核管理办法>的议案》《关于提请股东大会授权董事会办理 2022 年限制 性股票激励计划相关事宜的议案》及《关于召开公司 2022 年第三次临时股东大 会的议案》等议案。公司独立董事就本激励计划相关议案发表了独立意见。 同日，公司召开第七届监事会第十六次会议，审议通过了《关于<创业慧康 科技股份有限公司 2022 年限制性股票激励计划（草案）>及其摘要的议案》《关 于<创业慧康科技股份有限公司 2022 年限制性股票激励计划实施考核管理办法> ...

目 录 一、内部控制审计报告…………………………………………第 1—2 页 内部控制审计报告 天健审〔2025〕4729 号 创业慧康科技股份有限公司全体股东： 按照《企业内部控制审计指引》及中国注册会计师执业准则的相关要求，我 们审计了创业慧康科技股份有限公司（以下简称创业慧康公司）2024 年 12 月 31 日的财务报告内部控制的有效性。 一、企业对内部控制的责任 按照《企业内部控制基本规范》《企业内部控制应用指引》以及《企业内部 控制评价指引》的规定，建立健全和有效实施内部控制，并评价其有效性是创业 慧康公司董事会的责任。 二、注册会计师的责任 我们的责任是在实施审计工作的基础上，对财务报告内部控制的有效性发表 审计意见，并对注意到的非财务报告内部控制的重大缺陷进行披露。 三、内部控制的固有局限性 内部控制具有固有局限性，存在不能防止和发现错报的可能性。此外，由于 情况的变化可能导致内部控制变得不恰当，或对控制政策和程序遵循的程度降低， 根据内部控制审计结果推测未来内部控制的有效性具有一定风险。 四、财务报告内部控制审计意见 我们认为，创业慧康公司于 2024 年 12 月 31 日按照《企业内部控制 ...

目 录 一、非经营性资金占用及其他关联资金往来情况的专项 审计说明…………………………………………………………第 1—2 页 二、非经营性资金占用及其他关联资金往来情况汇总表………………第 3 页 非经营性资金占用及其他关联资金往来情况的 专项审计说明 天健审〔2025〕4730 号 创业慧康科技股份有限公司全体股东： 我们接受委托，审计了创业慧康科技股份有限公司（以下简称创业慧康公司） 2024 年度财务报表，包括 2024 年 12 月 31 日的合并及母公司资产负债表，2024 年度的合并及母公司利润表、合并及母公司现金流量表、合并及母公司所有者权 益变动表，以及财务报表附注，并出具了审计报告。在此基础上，我们审计了后 附的创业慧康公司管理层编制的 2024 年度《非经营性资金占用及其他关联资金 往来情况汇总表》（以下简称汇总表）。 一、对报告使用者和使用目的的限定 本报告仅供创业慧康公司年度报告披露时使用，不得用作任何其他目的。我 们同意将本报告作为创业慧康公司年度报告的必备文件，随同其他文件一起报送 并对外披露。 为了更好地理解创业慧康公司 2024 年度非经营性资金占用及其他关联资金 往来情况，汇 ...

北京市天元律师事务所 关于创业慧康科技股份有限公司 作废处理部分限制性股票的 法律意见 北京市天元律师事务所 北京市西城区金融大街 35 号 国际企业大厦 A 座 509 单元 邮编：100033 北京市天元律师事务所 完整，所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大 遗漏，并承担相应法律责任。 2、公司已保证其向本所提供的与本法律意见相关的信息、文件或资料均为 真实、准确、完整、有效，不存在虚假记载、误导性陈述或重大遗漏；文件资料 为副本、复印件的，内容均与正本或原件相符；所有文件的签署人均具有完全民 事行为能力，并且其签署行为已获得恰当、有效的授权；所有文件或资料上的签 字和印章均为真实。 关于创业慧康科技股份有限公司 作废处理部分限制性股票的 法律意见 京天股字（2022）第 582-6 号 致：创业慧康科技股份有限公司 根据北京市天元律师事务所（以下简称"本所"）与创业慧康科技股份有限公 司（以下简称"公司"、"创业慧康"）签订的《专项法律服务协议》，本所担任公 司本次 2022 年限制性股票激励计划（以下简称"本次股权激励计划"、"本激励计 划"或"本计划"）的专项法律顾问并出 ...