訊飛醫療科技：2024年度報告.pdf

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1、ANNUAL REPORT2024年 報Contents目錄Definition釋義2Corporate Information公司資料7Financial Highlights財務摘要11Chairmans Statement董事長致辭12Management Discussion and Analysis管理層討論與分析17Directors,Supervisors and Senior Management董事、監事及高級管理人員46Corporate Governance Report企業管治報告60Directors Report董事會報告82Independent Auditors

2、 Report獨立核數師報告112Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表120Consolidated Statement of Financial Position綜合財務狀況表121Consolidated Statement of Changes in Equity綜合權益變動表123Consolidated Statement of Cash Flows綜合現金流量表124Notes to the Consolidated Financial Statemen

3、ts綜合財務報表附註126Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report2In this annual report,unless the context otherwise requires,the following terms have the meanings set forth below:“Anhui Imaging Union”Anhui Imaging Union Co.,Ltd.*(安徽影聯雲享醫療科技有限公司),a limited liability company established in the PRC

4、 on October 26,2015,one of our subsidiaries“Anhui Yanzhi”Anhui Yanzhi Technology Co.,Ltd.*(安徽言 知 科 技 有 限 公 司),a limited company established in PRC on December 9,2019“Articles of Association”our Companys Articles of Association,as amended,supplemented or otherwise modified from time to time“associate

5、(s)”has the meaning ascribed to it under the Listing Rules“Audit Committee”Audit Committee of the Board of Directors of the Company“Board Committee(s)”the Board committees of our Company,namely the Audit Committee,the Remuneration Committee and the Nomination Committee“Board of Directors”or“Board”th

6、e board of Directors of our Company“China”or“PRC”the Peoples Republic of China,for the purpose of this annual report and for geographical reference only,excluding the Hong Kong and Macau Special Administrative Region of China and the Taiwan Region“Companies Ordinance”the Companies Ordinance(Chapter

7、622 of the Laws of Hong Kong),as amended,supplemented or otherwise modified from time to time在本年度報告內，除文義另有所指外，下列詞語具有以下涵義：安徽影聯指安 徽 影 聯 雲 享 醫 療科 技 有 限 公 司，於2015年10月26日在中國成立的有限責任公司，為我們的子公司之一安徽言知指安徽言知科技有限公司，於2019年12月9日在中國成立的有限責任公司公司章程指本公司公司章程，經不時修訂、補充或以其他方式修改聯繫人指具上市規則所賦予的涵義審計委員會 指本公司董事會審計委員會董事委員會 指本公司董事

8、委員會，即審計委員會、薪酬委員會及提名委員會董事會指本公司董事會中國指中華人民共和國，就本年度報告而言及僅供地理參考，不包括香港、中國澳門特別行政區及臺灣地區公司條例指香 港 法 例 第622章公司 條 例，經 不 時 修訂、補充或以其他方式修改Definition釋義 訊飛醫療科技股份有限公司二零二四年年報3本公司、公司 或訊飛醫療指訊飛醫療科技股份有限公司，於2021年12月24日在中國成立的股份有限公司，其H股於聯交所主板上市（股份代號：2506）關連人士指具上市規則所賦予的涵義控股股東指具上市規則所賦予的涵義，除文義另有所指外，指科大訊飛企業管治 守則指上 市 規 則 附 錄 C1所載

9、企業管治守則，經不時修訂、補充或以其他方式修改董事指本公司董事全球發售指具招股章程所賦予的涵義本集團 或我們指本公司、子公司及不時的合併聯屬實體H股指本公司普通股股本中每股面值人民幣1.00元的境外上市外資普通股，於聯交所上市並以港元買賣港元指香港法定貨幣港元香港指中國香港特別行政區香港聯交所或 聯交所指香港聯合交易所有限公司“Company”,“our Company”or“Xunfei Healthcare”Xunfei Healthcare Technology Co.,Ltd.(訊飛醫療科 技 股份有限公司),a joint stock company established in P

10、RC on December 24,2021,the H Shares of which are listed on the Main Board of the Stock Exchange(Stock Code:2506)“connected person(s)”has the meaning ascribed to it under the Listing Rules“Controlling Shareholder”has the meaning ascribed to it under the Listing Rules and,unless the context requires o

11、therwise,refers to iFlytek“Corporate Governance Code”the Corporate Governance Code as set out in Appendix C1 to the Listing Rules,as amended,supplemented or otherwise modified from time to time“Director(s)”the director(s)of our Company“Global Offering”has the meaning ascribed to it in the Prospectus

12、“Group”,“our Group”,“the Group”,“we”,“us”,or“our”o u r C o m p a n y,s u b s i d i a r i e s a n d consolidated affiliated entities from time to time“H Share(s)”overseas listed foreign invested ordinary share(s)in the ordinary share capital of our Company,with a nominal value of RMB1.00 each,listed

13、on the Stock Exchange and traded in Hong Kong dollars“HK$”or“Hong Kong dollars”Hong Kong dollars,the lawful currency of Hong Kong“Hong Kong”or“HK”the Hong Kong Special Administrative Region of the PRC“Hong Kong Stock Exchange”or“Stock Exchange”The Stock Exchange of Hong Kong LimitedDefinition釋義 Xunf

14、ei Healthcare Technology Co.,Ltd.2024 Annual Report4科大訊飛指科大訊飛股份有限公司，一家在中國成立的公司，其股份於深圳證券交易所上市（股票 代 碼：002230），為我們的控股股東科大訊飛 集團指除非文義另有所指，否則就本年度報告而言，科大訊飛及其子公司（不包括本集團）科訊創投指安 徽 科 訊 創 業 投 資基 金 合 夥 企 業（有 限合 夥），於2016年1月6日在中國 成 立的有限合夥企業，為我們的主要股東之一最後實際可行日期指2025年4月9日，即本年度報告付印前為確定 其 所 載 若 干 資 料的最後實際可行日期上市日期指本公司H股

15、於聯交所主板上市的日期，即2024年12月30日上市規則指香港聯合交易所有限公司證券上市規則，經不時修訂、補充或以其他方式修改呂梁訊飛指呂梁科大訊飛醫療信息技術有限公司，於2021年12月1日在中國成立的有限責任公司，為我們的子公司之一標準守則指上 市 規 則 附 錄 C3所載 上市發 行人 董 事進行證券交易的標準守則，經不時修訂、補充或以其他方式修改“iFlytek”iFlytek Co.,Ltd.(科大訊飛股份有限公司),a company established in the PRC whose shares are listed on the Shenzhen Stock Excha

16、nge under the stock code of 002230,our Controlling Shareholder“iFlytek Group”iFlytek and its subsidiaries(excluding our Group),unless the context otherwise requires,for the purpose of this annual report“Kexun Capital”Anhui Kexun Venture Capital Fund Partnership(Limited Partnership)(安徽科訊 創 業 投 資基金 合夥

17、企 業(有限合夥),a limited partnership established in the PRC on January 6,2016,one of our Substantial Shareholders“Latest Practicable Date”April 9,2025,being the latest practicable date prior to the printing of this annual report for the purpose of ascertaining certain information contained in it“Listing

18、Date”December 30,2024,being the date on which the H Shares of the Company are listed on the Main Board of the Stock Exchange“Listing Rules”the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited,as amended,supplemented or otherwise modified from time to time“Lvliang

19、Xunfei”Lvliang Keda Xunfei Medical Information Technology Co.,Ltd.*(呂梁科大訊飛醫療信息技術有限公司),a limited liability company established in the PRC on December 1,2021,one of our subsidiaries“Model Code”the Model Code for Securities Transactions by Directors of Listed Issuers as set out in Appendix C3 to the Li

20、sting Rules,as amended,supplemented or otherwise modified from time to timeDefinition釋義 訊飛醫療科技股份有限公司二零二四年年報5南京正昶指南 京 正 昶 科 技 合 夥企 業（有 限 合 夥），於2022年12月9日在中國成立的有限合夥企業，為我們的持股平臺之一南京正暉指南京正暉信息科技合夥企 業（有限合夥），於2021年12月3日在中國成立的有限合夥企業，為我們的持股平臺之一南京正暘指南京正暘信息科技合夥企 業（有限合夥），於2021年12月3日在中國成立的有限合夥企業，為我們的持股平臺之一招股章程指本公

21、司日期為2024年12月18日的招股章程報告期指截 至2024年12月31日止十二個月人民幣指中國法定貨幣人民幣證券及期貨條例指香港法例第571章 證券及 期 貨條 例，經不時修訂、補充或以其他方式修改股份指本公司股本中每股面值人民幣1.00元的普通股股東指股份持有人子公司指具有公司條例第15條所賦予的涵義主要股東指具有上市規則所賦予的涵義監事指監事會成員“Nanjing Zhengchang”N a n j i n g Z h e n g c h a n g Te c h n o l o g y Partnership(Limited Partnership)*(南 京正 昶科 技合夥企 業

22、(有限合夥),a limited partnership established in the PRC on December 9,2022,one of our shareholding platforms“Nanjing Zhenghui”Nanjing Zhenghui Information Technology Partnership(Limited Partnership)*(南京正暉信息科技合夥企業(有限合夥),a limited partnership established in the PRC on December 3,2021,one of our shareholdi

23、ng platforms“Nanjing Zhengyang”Nanjing Zhengyang Information Technology Partnership(Limited Partnership)*(南京正暘信息科技合夥企業(有限合夥),a limited partnership established in the PRC on December 3,2021,one of our employee shareholding platforms“Prospectus”the Prospectus of the Company dated December 18,2024“Repo

24、rting Period”for the twelve months ended December 31,2024“RMB”Renminbi,the lawful currency of the PRC“Securities and Futures Ordinance”or“SFO”the Securities and Futures Ordinance(Chapter 571 of the Laws of Hong Kong),as amended,supplemented or otherwise modified from time to time“Share(s)”ordinary s

25、hares in the share capital of our Company with a nominal value of RMB1.00 each“Shareholder(s)”holder(s)of the Share(s)“subsidiary(ies)”has the meaning ascribed to it in section 15 of the Companies Ordinance“Substantial Shareholder(s)”has the meaning ascribed to it under the Listing Rules“Supervisor(

26、s)”member(s)of our Supervisory CommitteeDefinition釋義 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report6監事會指本公司監事會庫存股份指具有上市規則所賦予的涵義銀川訊飛指銀 川 訊 飛 互 聯 網 醫院有限公司，於2022年3月16日 在 中 國 成立的有限責任公司，為我們的子公司之一%指百分比“Supervisory Committee”the supervisory committee of our Company“treasury shares”has the meaning

27、ascribed to it under the Listing Rules“Yinchuan Xunfei”Yinchuan Xunfei Internet Hospital Co.,Ltd.(銀川訊飛互聯網醫院有限公司),a limited liability company established in the PRC on March 16,2022,one of our subsidiaries“%”percentageDefinition釋義 訊飛醫療科技股份有限公司二零二四年年報7NAME OF THE COMPANYCHINESE NAME訊飛醫療科技股份有限公司ENGLISH

28、 NAMEXunfei Healthcare Technology Co.,Ltd.DIRECTORSEXECUTIVE DIRECTORDr.Tao Xiaodong(General Manager)NON-EXECUTIVE DIRECTORSDr.Liu Qingfeng(Chairman)Mr.Zhao ZhiweiMr.Duan DaweiINDEPENDENT NON-EXECUTIVE DIRECTORSProf.Wang YangProf.Zhao HuifangMr.Tan ChingAUDIT COMMITTEEProf.Zhao Huifang(Chairwoman)Pr

29、of.Wang YangMr.Duan DaweiREMUNERATION COMMITTEEProf.Zhao Huifang(Chairwoman)Mr.Zhao ZhiweiMr.Tan ChingNOMINATION COMMITTEEDr.Liu Qingfeng(Chairman)Prof.Zhao HuifangMr.Tan Ching公司名稱中文名稱訊飛醫療科技股份有限公司英文名稱Xunfei Healthcare Technology Co.,Ltd.董事執行董事陶曉東博士（總經理）非執行董事劉慶峰博士（董事長）趙志偉先生段大為先生獨立非執行董事汪揚教授趙惠芳教授談慶先生審計

30、委員會趙惠芳教授（主席）汪揚教授段大為先生薪酬委員會趙惠芳教授（主席）趙志偉先生談慶先生提名委員會劉慶峰博士（主席）趙惠芳教授談慶先生Corporate Information公司資料 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report8SUPERVISORSMs.Zhang XuanxuanMs.Sheng YanMr.Gui YajunJOINT COMPANY SECRETARIESDr.Liu WeiMs.Yeung Siu LamAUTHORISED REPRESENTATIVESDr.Tao XiaodongDr.Liu

31、WeiHEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN THE PRCNo.167 Guanganmennei StreetXicheng District,BeijingPRCPRINCIPAL PLACE OF BUSINESS IN HONG KONGRoom 1922,19/F,Lee Garden One33 Hysan AvenueCauseway BayHong KongH SHARE REGISTRARTricor Investor Services Limited17/F,Far East Finance Centre16 Harc

32、ourt RoadHong KongSTOCK CODE2506監事張旋旋女士盛豔女士桂雅駿先生聯席公司秘書劉偉博士楊兆琳女士授權代表陶曉東博士劉偉博士中國總辦事處及主要營業地點中國北京市西城區廣安門內大街167號香港主要營業地點香港銅鑼灣希慎道33號利園一期19樓1922室H股證券登記處卓佳證券登記有限公司香港夏愨道16號遠東金融中心17樓股份代號2506Corporate Information公司資料 訊飛醫療科技股份有限公司二零二四年年報9COMPANYS WEBSITEhttps:/ AUDITORDeloitte Touche TohmatsuCertified Public Ac

33、countantsRegistered Public Interest Entity Auditors35/F,One Pacific Place88 QueenswayHong KongLEGAL ADVISORS TO OUR COMPANYAs to Hong Kong law:Clifford Chance27/F,Jardine HouseOne Connaught PlaceCentralHong KongAs to PRC law:CM Law FirmRoom 2805,Plaza 66 Tower 2No.1366 Nanjing West RoadShanghaiPRC公司

34、網址https:/ Information公司資料 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report10合規顧問新百利融資有限公司香港皇后大道中29號華人行20樓主要銀行徽商銀行合肥高新區支行中國安徽省合肥市蜀山區長江西路848號招商銀行合肥三孝口支行中國安徽省合肥市廬陽區阜南路169號招銀大廈COMPLIANCE ADVISORSomerley Capital Limited20/F,China Building29 Queens Road CentralHong KongPRINCIPAL BANKSHuishang Bank

35、Hefei High-Tech Zone BranchNo.848 Changjiang West Road Shushan District Hefei,Anhui Province PRCChina Merchants Bank Hefei Sanxiaokou BranchCMB BuildingNo.169 Funan RoadLuyang DistrictHefei,Anhui ProvincePRCCorporate Information公司資料 訊飛醫療科技股份有限公司二零二四年年報11The following is a summary of the results and

36、assets and liabilities of our Group for the past four financial years:CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENT20242023202220212024年2023年2022年2021年RMB000RMB000RMB000RMB000人民幣千元 人民幣千元 人民幣千元 人民幣千元 Revenue營業收入733,984556,125471,860372,452Gross profit毛利潤404,084314,654230,669187,729Loss before

37、 tax稅前虧損(172,016)(186,915)(244,100)(110,970)Loss for the year本年虧損(137,636)(154,224)(208,595)(89,401)Loss attributable to owners of the parent company歸屬於母公司所有者的虧損(132,600)(144,842)(189,400)(83,707)CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION20242023202220212024年2023年2022年2021年RMB000RMB000RM

38、B000RMB000人民幣千元 人民幣千元 人民幣千元 人民幣千元 Non-current assets非流動資產408,745384,463377,630286,737Current assets流動資產1,681,192853,151651,954727,076Total assets資產總額2,089,9371,237,6141,029,5841,013,813Non-current liabilities非流動負債102,80616,70726,40729,263Current liabilities流動負債1,000,289671,047603,440487,519Total lia

39、bilities負債總額1,103,095687,754629,847516,782 Total equity權益總額986,842549,860399,737497,031 下文載列有關本集團於過往四個財政年度的業績以及資產及負債的摘要：簡明合併綜合收益表簡明合併財務狀況表Financial Highlights財務摘要 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report12Dear respected partners and investors:Greetings!On December 30,2024,Xunfei Healt

40、hcare was successfully listed on the Hong Kong Stock Exchange,becoming Chinas first listed company featuring a healthcare large language model,and the only A-share spin-off company listed in Hong Kong that year.As one of the international financial centers,Hong Kong offers diverse financing channels

41、 and unique advantages in connecting with global capital.The listing of Xunfei Healthcare in Hong Kong not only provides funding support for continuous R&D innovation in“AI+Healthcare”,but also marks a key strategic move to advance the globalization strategies of iFlytek and Xunfei Healthcare.Since

42、its establishment till today,Xunfei Healthcare has journeyed through eight years.From the very first day,our initial aspiration and dream have remained unchanged:“an AI medical assistant for every doctor and an AI health partner for everyone”,specifically:empowering every doctor with a capable gener

43、al practice AI assistant,providing precise AI-assisted diagnostic support and consultation services anytime and anywhere;expanding hospitals post-discharge services and patient follow-up capabilities;providing new methods for city-level disease prevention and control,and in the fields of home health

44、care and elderly care,making chronic disease management by family doctors more intelligent,making elderly care services more compassionate,truly transforming technology into a practical force for improving peoples livelihoods,and enabling everyone to enjoy the benefits brought by technology.Every ti

45、me when we think of our mission and dream,we are filled with high morale and passion to strive forward.尊敬的合作夥伴、投資者朋友：大家好！2024年12月30日，訊 飛醫 療 成 功登 陸 香港聯交所，成為中國首家醫療大模型上市公司，也是當年A股分拆港股上市的唯一 企業。香港作為國際金融中心之一，可提供多元融資渠道和聯通全球資本的獨特優勢。訊飛醫療在香港的上市，既為持續助力 AI+醫療 研發創新提供資金支持，也是推動科大訊飛及訊飛醫療全球化戰略的關鍵佈局。訊飛醫療自創業以來，已悄然走過 八載

46、春秋，從創業的第一天起，我們初心夢想未曾改變，打造每個醫生的AI診療助理、每個居民的AI健康助手。讓每個醫生都 擁有得力的全科AI助手，提 供隨時隨地 精準AI輔 診支持和會診服務；拓展醫院的診後 服務與患者隨訪能力；為 城市級疾病防控提供全新手段，並且在家庭醫療與養老領域，讓家庭醫生的慢病管理更加智能化，讓養老服務更具溫度，真正將技術轉化為改善民生的現實力量，讓每個人都能享受到科技帶來的福祉。每次想到使命和夢想，我們就充滿了昂揚的鬥志和奮鬥的激情。Chairmans Statement董事長致辭 訊飛醫療科技股份有限公司二零二四年年報13如今訊飛醫療已成為中國覆蓋地區最廣、市場份額第一的醫療

47、人工智能公司。我們的全科輔診系統向全國670多個區縣超過7萬家基層醫療機構的14萬名基層醫生，累計提供約9.1億次輔診建議，大大降低了誤診漏診可能性；我們的人工智能系統已覆蓋500多家等級醫院，包括中國百強醫院中的40多家，使人工智能成為這些頂 尖醫院醫生的AI助手，提高醫生工作效率的同時，提升了老百姓的就醫體驗；我們打造了國內 規模最大、機制最順、應用最廣 的影像雲平臺 安徽省級影像雲平臺，已接入1,970家醫療機 構，累計遠程影像會診近849萬次，率先實現了一處檢查，全省通用，AI輔助影像質檢和診療能力顯著提升；我們的醫療大模型C端應用訊飛曉醫下載量已突破2,000萬，滿足了居民日常癥狀自

48、查、用藥諮詢、疾病諮詢的需求，同時為每個人構建個人數字健 康空間；我們還推出軟硬一體的訊飛智能助聽器，助力聽障人群 聽得更清，更加從容擁抱自由無礙、充滿愉悅與陽光的社會生活。Today,Xunfei Healthcare has become the healthcare AI company with the broadest regional coverage and the largest market share in China.Our general practice diagnosis assistance system has provided approximately 91

49、0 million AI-assisted diagnosis suggestions to 140,000 primary care doctors in over 70,000 PHC institutions across more than 670 districts and counties nationwide,significantly reducing the likelihood of misdiagnosis and missed diagnosis;our AI system has covered more than 500 hospitals,including ov

50、er 40 of the Top 100 hospitals in China,making AI an assistant for doctors in these top hospitals,enhancing both doctors work efficiency and the publics medical experience;we have built the Anhui Provincial Cloud Medical Imaging Platform,the largest,smoothest-operating,and most widely applied platfo

51、rm of its kind in China,connecting 1,970 medical institutions and accumulating nearly 8.49 million remote imaging consultations.It pioneers the“one examination for province-wide use”model,significantly enhances AI-assisted image quality control and diagnostic capabilities;the downloads of Xunfei Xia

52、oyi,our healthcare large model C-end application,have exceeded 20 million,which meets residents needs for daily symptom self-checks,medication consultations and disease inquiries,while also builds a personal digital health space for everyone;we also launched Xunfei AI Hearing Aid,an integrated hardw

53、are-software product,helping the hearing-impaired to“hear clearer”and embrace a barrier-free,joyful,and sunny social life with greater ease.Chairmans Statement董事長致辭 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report142025年是通用人工智能實現全民應用的元年。我國生 成式人工智能產品的用戶規模 達2.49億 人，佔總 人口的17.7%，通用 人 工智 能 產 業 正 跨

54、 越 規 模 化 成 長 的鴻 溝。訊 飛 星 火 大 模 型 是 迄今 唯 一 基於國產算力訓練的全民開放大模型，在此 基 礎 上研 發 的 星 火醫 療 大 模 型 核心能力上全面超越GPT-4 Turbo/GPT-4o和DeepSeek等業界知名的系統和模型。核心技術保持領先不僅為訊飛醫療未來自主可控地端到端解決真實場景下剛需問題奠定了堅實基礎和長期技術壁壘，也讓人工智能賦能醫療的夢想變得更加觸手可及。例如，2024年8月，訊飛醫療和葛均波院士團隊、復 旦大學附屬中山醫院等緊密合作，發佈泛血管疾病綜合管理平臺V2.0，系科技部 十四五 泛血管疾病防治重點專項課題，已率先在中國科學技術大學

55、第一附屬醫院（安徽省立醫院）落地，為泛血管疾病醫療質量的提升和 健康中國2030 目標的實現提供了有力支撐；2025年3月，國家 四大慢病 重大專項核心成果 全球首個1型糖尿病專病大模型在合肥成功發佈，通過整合多模態數據與臨床經驗，基於訊飛星火醫療大模型X1，構建覆蓋篩查、分型、治療及管理的全鏈條數智化防控體系，為全國慢病管理提供了 安徽範式。面對通用人工智能的浪潮，我們在保持關鍵核心技術領先的同時，更著眼於長期發展，在以下多個方面形成並鞏固持續的競爭優勢：The year 2025 is the inaugural year for the universal application of

56、general artificial intelligence for all people.In China,the user base for generative artificial intelligence products has reached 249 million people,accounting for 17.7%of the total population,and the general artificial intelligence industry is crossing the chasm towards large-scale growth.Xunfei Sp

57、ark Model is currently the only publicly available large model trained using domestic computing power,And the Spark Medical Model,which is developed based on it,comprehensively surpasses industrial well-known systems and models such as GPT-4 Turbo/GPT-4o and DeepSeek in core capabilities.Maintaining

58、 leadership in core technology not only lays a solid foundation and creates long-term technological barriers for Xunfei Healthcare to independently solve essential end-to-end problems in real-world scenarios in the future,but also makes the dream of AI-empowered healthcare more attainable.For exampl

59、e,in August 2024,Xunfei Healthcare,in close collaboration with Academician Ge Junbos team,Zhongshan Hospital affiliated with Fudan University and others,released the Pan-Vascular Disease Comprehensive Management Platform V2.0.This is a key special project for pan-vascular disease prevention and cont

60、rol under the Ministry of Science and Technologys“14th Five-Year Plan”and has been launched at the First Affiliated Hospital of University of Science and Technology of China(Anhui Provincial Hospital),providing strong support for improving the quality of pan-vascular disease medical care and achievi

61、ng the“Healthy China 2030”goals;in March 2025,a core achievement of the national major special project on the“Four Major Chronic Diseases”the worlds first Type 1 Diabetes-specific large model,was successfully launched in Hefei.By integrating multimodal data and clinical experience,and based on Xunfe

62、i Spark Medical Model X1,it builds a full-chain digital intelligent prevention and control system covering screening,typing,treatment and management,providing an“Anhui paradigm”for national chronic disease management.Facing the wave of general artificial intelligence,while maintaining leadership in

63、key core technologies,we focus more on long-term development,forming and consolidating sustainable competitive advantages in the following aspects:Chairmans Statement董事長致辭 訊飛醫療科技股份有限公司二零二四年年報15一是解決 幻覺 問題，讓醫療人工智能更靠 譜。我們 在醫療專業 知識 增強、醫生循證思維、醫生專家反饋強化學習等方面實現了技術創新，並通過整合外部知識庫和內部搜索等方式，能夠顯著提高醫療場景推理的準確性、專業性與可

64、解釋性，解決大模型的 幻覺 問題。二是構築 數據飛輪，讓優秀 醫生每一次診療都成為醫療大模型迭代進步的基石。我們自建了億級條目高質量醫學知識庫，積累了經9億多人次AI輔診驗證的強化學習數據，每天提供上百萬人次的輔診服務，通過不斷的實踐和反饋，構建 數據-知識-模型 閉環體系，使星火醫療大模型基於海量高質量行業數據形成迭代進化的飛輪效應。三是發展多模態能力，讓大模型賦能更多、更全面的醫療場景。大模型在醫療領域落地需要具備多模 態能力。結合智能語音、圖像等技術，我們的智能語音外呼系統已累計提 供13億人次的服務，在新冠疫情防控關鍵時期，該系統曾幫助在武漢地區實現3小時100萬的人群覆蓋，提高人工篩

65、查效率40倍以上；安徽省影像雲平臺提供數字影像服務及遠程影像服務，預計年節約醫保費用約20億元。First,addressing the“hallucination”problem to make healthcare artificial intelligence more reliable.We have achieved technological innovations in enhancing medical professional knowledge,doctors evidence-based thinking and reinforcement learning from d

66、octor expert feedback.By integrating external knowledge bases and internal search methods,we can significantly improve the accuracy,professionalism and interpretability of the reasoning in healthcare scenarios,addressing the“hallucination”issue of large models.Second,building a“data flywheel”so that

67、 every diagnosis and treatment by outstanding doctors becomes a cornerstone for the iterative progress of the healthcare large model.We have built our own high-quality medical knowledge base with hundreds of millions of entries,accumulated reinforcement learning data that are validated through over

68、900 million AI-assisted diagnoses.We provide millions of diagnostic services on a daily basis,and through continuous practice and feedback,we construct a closed-loop“data-knowledge-model”system,enabling the Spark Medical Model to form an iterative evolution flywheel effect based on massive high-qual

69、ity industry data.Third,developing multimodal capabilities to empower large models in more numerous and comprehensive healthcare scenarios.The implementation of large models in the healthcare field requires multimodal capabilities.Combining technologies such as intelligent speech and image recogniti

70、on,our intelligent voice outreach system has provided a cumulative total of 1.3 billion services.During the critical COVID-19 prevention and control period,this system helped a coverage of 1 million people in the Wuhan area within 3 hours,increasing manual screening efficiency by over 40 times;the A

71、nhui Provincial Cloud Medical Imaging Platform provides digital imaging services and remote imaging services,with estimated annual savings in medical insurance expenses of approximately RMB2 billion.Chairmans Statement董事長致辭 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report16Fourth,building a d

72、eveloper ecosystem to foster the prosperous development of the AI+healthcare industry.The Xunfei Open Platform has opened up 808 AI products and capabilities,bringing together a team of 8.34 million developers,and the artificial intelligence industry ecosystem centered around iFlytek continues to de

73、velop.In October 2024,in collaboration with the Anhui Provincial Health Commission and the National Key Laboratory of Cognitive Intelligence,we jointly launched the open collaboration plan for a full-spectrum,full-modality medical imaging large model,bringing together a team of imaging AI researcher

74、s for co-construction and co-creation,enabling every medical institution and practitioner to share the technological bonuses brought by healthcare artificial intelligence.We believe that,by embracing long-termism,adhering to independent and controllable core technology innovation,ensuring the practi

75、cal application of products with the positive impact of technology for good and giving back to society with gratitude,we can certainly go further in the great tide of the era of AI-empowered healthcare.Xunfei Healthcare will leverage Hong Kong as an international platform,strive to develop into a le

76、ading enterprise in the global healthcare AI field,and make greater contributions to the future health of humanity!XUNFEI HEALTHCARE TECHNOLOGY CO.,LTD.Dr.Liu QingfengChairmanMarch 26,2025四是構建開發者生態，助力人工智能+醫療產業繁榮發展。訊飛開放平臺已開放808項AI產品及能力，匯聚834萬開發者團隊，以科大訊飛為核心的人工智能產業 生 態 持 續 發展。2024年10月，我們 聯合安徽省衛健委、認知智能全

77、國重點實驗室，共同發佈全譜系全模態醫學影像大模型開放合作計劃，匯聚影像AI科研團隊共建共創，讓每一個醫療機構、每一位從業者都能共享醫療人工智能所帶來的技術紅利。我們相信，以長期主義之心，堅持自主可控的源頭技術創新、堅持產品應用落地和科技向善的溫度、以感恩的心態回報社會，就一定可以在人工智能賦能醫療的時代大潮中走得更遠。訊飛醫療將借助香港這一國際化平臺，致力於發展成為全球醫療人工智能領域的龍頭企業，為人類未來的健康事業做出更大貢獻！訊飛醫療科技股份有限公司董事長劉慶峰博士2025年3月26日Chairmans Statement董事長致辭 訊飛醫療科技股份有限公司二零二四年年報172024年是醫

78、療大模型應用落地不平凡的一年，全球醫療人工智能行業呈現 技術突破與場景應用深化 雙輪驅動格局。受到人工智能技術 進步、利好政策、對醫療資源的需求及數字經濟發展的驅動，中國醫療人工智能市場規模不斷增長。人工智能產業經歷了大模型等技術的突破，尤其是醫療行業大模型在醫學相關的任務上表現卓越，使得許多醫學人工智能應用變為可能。大模 型促 進了全球經濟增長，也為包括醫療在內的特定及複雜的行業提供顯著的市場機遇。作為中國醫療人工智能技術服務醫生和患者數最多的公司，我們迎來前所未有的發展機遇。在這一技術和產業快速發展的大背景下，公司在核心技術和業務拓展方面均取得了顯著的進步，並為下一步的跨越式發展打下良好的

79、基礎。核心技術繼2023年10月公司首次發 佈星火醫療 大模 型1.0後，2024年6月27日，訊 飛 星 火醫療大模型再次升級，在醫療海量知識問答、醫療複雜語言理解、醫療專業文書生 成、醫療診斷治療推薦、醫療多輪交互、醫療多模 態交互等六大核心場景能力顯著提 升，平均效 果 提 升至85%，各項核心能力超過OpenAI GPT-4 Turbo 5%。訊飛星火醫療大模型在中國信息通信研究院2024年6月啟動的醫療健康行業大模型效能評估中，在個人畫像、健康干預方案、病歷文書生 成及質控、檢查檢驗報告解讀、體檢報告單解讀等細分任務中表現均超過市場主要大模型，在健 康常識、疾病百科、用藥知識、電子病

80、歷結構化、專業知識生 活化、考試 輔助智慧 化、導醫導診便民化、輔助首診及推薦檢查檢驗、輔助確診、疾病輔助診斷、用藥安全指導等方向上均展現高度專業性。The year 2024 marked a pivotal moment for medical large language models(LLMs),with the global medical AI industry driven by both technological breakthroughs and evolving application scenarios.In China,the medical AI market is

81、 expanding rapidly,fueled by advancements in AI,supportive policies,growing healthcare demand,and digital economic development.Breakthroughs in AI,particularly in LLMs,have enabled remarkable progress in medical applications,demonstrating strong performance in specialized tasks.These innovations are

82、 not only driving global economic growth but also unlocking significant opportunities in complex sectors like healthcare.As the company with the largest number of doctors and patients served by medical AI technology in China,we have seized unprecedented growth opportunities.Amid this wave of rapid t

83、echnological and industry evolution,the Company has made substantial progress in both core technology and business expansion,laying a solid foundation for the next step of leapfrog development.CORE TECHNOLOGIESFollowing the launch of Xunfei Spark Medical Model 1.0 in October 2023,the model received

84、a major upgrade on June 27,2024,significantly enhancing its performance across six core areas:medical Q&A,complex medical language comprehension,professional document generation,disease diagnosis and treatment recommendations,multi-round medical dialogues,and multi-modal medical interactions.Its ove

85、rall effectiveness improved to 85%,with core capabilities surpassing OpenAI GPT-4 Turbo by 5%.In the healthcare-focused LLM evaluation conducted by the China Academy of Information and Communications Technology(CAICT)in June 2024,the model outperformed major competitors in key sub-tasks,including pa

86、tient profiling,health intervention planning,medical record generation and quality control,interpretation of examination and test reports,and interpretation of physical examination reports.Additionally,it demonstrated strong expertise in a wide range of fields such as general health knowledge,diseas

87、e encyclopaedias,medication guidance,electronic medical record(EMR)structuring,professional knowledge integration into daily routine,intelligent examination assistance,doctor and hospital navigation,initial diagnosis support,examination and test recommendations,assisted diagnosis,disease diagnosis a

88、ssistance,and medication safety guidance.Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report182024年10月24日，訊 飛 醫 療 正 式發 佈 星火醫療大模型2.0版，模型在醫療海量知識問答等上述六大核心場景能力進一步顯著提 升，平均效 果 達 到88%，核心能力 全 面 優 於 OpenAI GPT-4 Turbo/GPT-4o。公司同時發佈星火醫學影像大模型，結合安徽省影像雲平臺的億級影像數據，打造智

89、慧醫學影像助手，可賦能 智慧質控-智慧診斷-智慧讀片 全流程。2024年11月2日，訊飛醫療和四川大學華西醫院聯合發佈了 華西黌醫 醫學大模型，在複雜病歷內涵質控方面表現出色。實際測試表明，該系統在處理診療行為記錄、手術術式質控等複雜質控任務的準確率已達到90%，顯著提升質控人效及複雜內容質控效果。2024年11月7日，訊飛醫療與北京安貞醫院聯合發佈了心臟診斷大模型，在心血管疾病的輔助診斷技術方面取得重要突破。模型結合北京安貞醫院高質量專家知識，建立心臟超聲智慧報告系統，為心血管疾病的診斷和治療帶來全新進展。2025年3月3日，訊 飛醫療正式發 佈基 於深度推理技術的星火醫療大模型X1，是當前

90、唯一採用全國產算力訓練的醫療深度推理大模型。星火醫療大模型X1依託訊飛醫療多年來積累的億級權威精品醫學知識庫與高質量脫敏診療數據構建，在醫療專業知識增強、醫生循證思維、醫生專家回饋強化學習等方面實現技術創新，大幅降低醫療幻覺，顯著提高醫療場景推理的正確性、專業性與可解釋性。根據真實場景測試數據評估，全科輔助診斷合理率達到94%，?？戚o助診斷（主診斷）合理率達 到90%，健 康 諮詢解答率達到89%，相關效果均超過GPT-4o以及DeepSeek R1。On October 24,2024,Xunfei Healthcare officially launched the Xunfei Spar

91、k Medical Model 2.0,delivering significant enhancements across the six core scenarios mentioned above.Its overall effectiveness reached 88%,with core capabilities comprehensively surpassing OpenAI GPT-4 Turbo and GPT-4o.At the same time,the Company introduced the Xunfei Spark Medical Imaging Model.L

92、everaging 100m-level medical images from the Anhui Province Cloud Medical Imaging Platform,this advanced model powers an intelligent medical imaging assistant,enabling the entire process of“intelligent quality control,diagnostic assistance,and image interpretation”.On November 2,2024,in collaboratio

93、n with West China Hospital of Sichuan University,we launched the“Huaxi Hongyi”medical LLM.This model excels in the quality control of complex medical records.Practical tests demonstrate its 90%accuracy in handling intricate quality control tasks,such as diagnosing and monitoring treatment behaviors

94、and surgical procedure quality control,greatly improving both personnel efficiency and content accuracy.On November 7,2024,Xunfei Healthcare partnered with Beijing Anzhen Hospital to introduce a specialized cardiac diagnosis LLM,marking a major breakthrough in assisted diagnosis for cardiovascular d

95、iseases.Leveraging Beijing Anzhen Hospitals high-quality expertise,the model integrates an intelligent cardiac ultrasound reporting system,driving new advancements in cardiovascular disease diagnosis and treatment.On March 3,2025,Xunfei Healthcare officially launched the Xunfei Spark Medical Model X

96、1 built on the deep reasoning technology,Chinas only medical deep reasoning LLM trained entirely on domestically produced computing power.Developed using Xunfei Healthcares extensive,100m-level authoritative medical knowledge base and high-quality desensitized diagnostic and treatment data,X1 introd

97、uces key technological advancements.These include enhanced medical expertise,evidence-based clinical reasoning,and reinforced learning from medical experts feedback,significantly reducing medical hallucinations while improving accuracy,professionalism,and interpretability in clinical decision-making

98、.Real-world scenario testing shows that X1 achieved a 94%rationality rate in auxiliary diagnosis for general diseases,a 90%rationality rate in auxiliary(main)diagnosis for specialized diseases,and an 89%response rate for health consultations,all surpassing GPT-4o and DeepSeek R1.Management Discussio

99、n and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報19On March 3,2025,Xunfei Healthcare,in partnership with Huawei,launched the fully localized Xunfei Spark Medical All-in-One Machine,designed for medical applications.This advanced system supports the Xunfei Spark Medical Model X1 alongside various open-sourc

100、e models,enabling seamless collaboration between heterogeneous models,rapid deployment,and out-of-the-box usability.Equipped with the Xunfei Medical Intelligence Agent Platform,the all-in-one machine offers 20 specialized medical intelligence agents,covering tasks such as automatic generation and qu

101、ality control of medical records,intelligent follow-ups,and report interpretation.By integrating deep reasoning with industry-specific insights,it enhances healthcare knowledge capabilities by 30%while reducing model hallucinations by 10%.Furthermore,leveraging the Ascend hardware,the system signifi

102、cantly boosts reasoning performance,driving a 40%improvement in Xunfei Spark Medical Model X1s inference efficiency.Xunfei Healthcare,in collaboration with CAICT,led multiple domestic medical institutions,research institutes,and information technology(IT)enterprises,developed and officially released

103、 the“Technical Requirements for the Application of LLMs in the Healthcare Industry,Part 5:Clinical Research”(Standard No.:2024-0026T-IHIA),“Technical Requirements for the Application of LLMs in the Healthcare Industry,Part 8:Traditional Chinese Medicine”(Standard No.:2024-0027T-IHIA),and“Governance

104、Specifications for Synthetic Services of LLMs in the Healthcare Industry,Part 2:Algorithm Models”(Standard No.:2024-0028T-IHIA).So far,we have co-led the development of seven standards for LLMs in the healthcare industry,further establishing an improved framework covering security management,data go

105、vernance,and clinical applications,among other dimensions.With rapid improvements in LLM technology,performance ceilings continue to rise while training and inference costs decline exponentially,paving the way for a new phase of accelerated growth in medical AI.The Company believes that the healthca

106、re sector,given its direct impact on human health,demands AI solutions that meet exceptionally high standards in professionalism,breadth,depth,and adaptability to the evolving medical landscape and personalized healthcare needs.Furthermore,the critical nature of accuracy and safety in medicine under

107、scores the necessity for ongoing advancements in LLM technology and its seamless integration into the industry.2025年3月3日，訊 飛醫療攜 手 華為 推出針對醫療應用場景的全國產化訊飛星火醫療一體機。該一體機可同時支持星火醫療大模型X1及其他各類開源模型，實現異構模型間的協同、快速部署、開箱即用，內置 一站式 星火醫療智慧體平臺，提供病歷自動生成、病歷內涵質控、智慧隨訪、報告解讀等20個醫療專業智慧體，同時通過深度思考與行業理解相融合，醫療行業 知識能力提 升30%，模型幻覺下降

108、10%，另外基 於昇騰 硬體 進行了推理性能優化，針對星火醫療大模型X1的推理性能提升40%。訊飛醫療與中國信息通信研究院共同牽頭，聯合國內多家醫療機構、科研院所及資訊化企業共同研製並正式發佈了 醫療健康行業大模型應用技術要求第5部分：臨床科研（標準號：2024-0026T-IHIA）醫療健康行業大模型應用技術要求第8部分：傳 統 中 醫（標 準 號：2024-0027T-IHIA）、醫 療 健 康 行 業 大 模 型 合 成 服 務 治 理規 範 第2部 分：演 算 法 模 型（標 準 號：2024-0028T-IHIA），共同牽 頭制 定 累計7項標準，進一步形成了較為完善的涵蓋安全管理、

109、數據治理、臨床應用等多個維度的醫療健康行業大模型標準體系。隨著當前大模型技術快速發展，其性能 天花板 仍在持續抬升，訓練與推理成本正在成倍下降，醫療人工智能產業將迎來全新高速發展階段。公司認為，醫療行業涉及人民身體健康，醫學本身的專業度、廣 度、深 度和快 速發展，以及 居民醫療健康的個性化訴求，均對人工智能技術提出極高要求，另外醫療行業的嚴肅性、安全性等也是技術落地應用中必須要面對的關鍵行業特性。這些特性均需要大模型技術不斷提升並與醫療行業持續融合。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology

110、Co.,Ltd.2024 Annual Report20當前，訊飛醫療大模型在行業落地方面主要具備以下六方面的優勢：醫療領域海量專業知識和數據的長期積累：重 點包括億 級高精準醫學知識、高質量數據積累，以及 海量專業的醫療領域強化學習數據積累；大模型全自研技術基礎及持續創新能力：具備全自研的業界領先的星火大模型底座，監督、微調、強化學習、安全可控的核心技術，硬體工程適配、以及與之配套的高效工具鏈和系統平臺，同時持續創新、擁有醫療行業特色的演算法，保證醫療場景推理的邏輯正確性、專業性、可解釋性等；軟硬體全國產化自主可控：堅持醫療大模型軟硬體全國產技術路線，擁有完備的基於華為昇騰等國產化算力平臺的

111、高效訓練、推理的一體化技術方案；通專結合的系統性創新AI能力：為用戶提供處理醫療文本、語音、影像、圖文等多方面的AI能力組合，共同滿足真實場景下應用落地剛需；技術落地與服務 保障：具有規?；涞?、為大量用戶提供技術服務的成功經驗，具備從產品需求到技術落地並持續迭代升級的能力，以及完整鏈條的技術服務保障；堅定落實軟硬體全國產化與自主可控路線：訊飛醫療未來仍將堅定地走軟硬體全國產化與自主可控路線，面向醫療行業剛需落地，不斷強化自身優勢並構建形成一整套醫療人工智能技術原創研究與落地的方法體系。Currently,Xunfei Healthcares LLMs offer the following

112、six advantages in industry application:Long-term,extensive accumulation of medical knowledge and data:These mainly include 100m-level,high-accuracy medical knowledge,high-quality data,and reinforced learning data in the medical field;Fully self-developed and continuously innovated LLM technologies:O

113、ur proprietary Spark LLM base incorporates supervision,fine-tuning,reinforced learning,and safe,controllable core technologies,along with hardware engineering adaptation and an efficient toolchain/system platform.Through ongoing innovation,we ensure logical consistency,professionalism,and interpreta

114、bility in medical reasoning;Fully localized hardware and software for self-reliance and controllability:Following the technical path of entirely localized medical LLM hardware and software,we have devised integrated technical solutions for efficient training and reasoning based on domestically produ

115、ced computing power platforms,such as Huaweis Ascend;Systematic and innovative AI capabilities across general and specialized medicine:Our AI solutions cover medical text,audio,images,graphical data,and other forms of content,addressing immediate needs under real-world scenarios;Technology deploymen

116、t and service assurance:With extensive experience in scaling AI applications and providing industry-wide technical services,we excel in translating product requirements into effective solutions,ensuring continuous upgrades and full-chain service support;Firm commitment to the localization of hardwar

117、e and software for self-reliance and controllability:Looking ahead,Xunfei Healthcare remains committed to the path of localization for self-reliance and controllability.By addressing immediate needs in the medical industry,we will strengthen our advantages and build a complete set of methods for res

118、earching and implementing original medical AI technologies.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報21The enhancement of its core technology and product capabilities is attributable to the Companys unswerving investment in research and development(R&D).For the year ended Decembe

119、r 31,2024,its total R&D investment(including R&D expenses and development expenditures)reached RMB296.8 million(of which R&D investment in core technology amounted to RMB82 million,representing a year-on-year increase of 13.2%),accounting for 40.4%of its total revenue for 2024.BUSINESS REVIEWWhile m

120、aintaining our leadership in core medical LLM technology,the Company launched extensive cooperation with Chinas top medical institutions in 2024,achieving remarkable results and recognition from authoritative institutions:Our deputy general manager,Mr.Lu Xiaoliang,was honored with the First Prize in

121、 the National Science and Technology Progress Award by the State Council of the Peoples Republic of China(PRC)as a team member;At the 7th Digital China Summit,the National Data Administration,in collaboration with other departments,released the first 20 national benchmark cases of Data Elements acro

122、ss 12 industries and fields.General Practice CDSS was selected as one of the first benchmark cases in the medical and healthcare sector;We were recognized as the“Key Laboratory for Medical AI Research and Application in Anhui Province”by the Department of Science and Technology of Anhui Province;We

123、jointly released the“Hongyi LLM”with West China Hospital of Sichuan University,and a multi-modal LLM,the“Cardiac Ultrasound Diagnosis Decision System”,with Beijing Anzhen Hospital and Beihang University;Our“Hefei Intelligent Multi-point Trigger Early Warning System for Infectious Disease Prevention

124、and Control”won the First Prize in the Intelligent Service Category at the Second National Digital Health Innovation Application Competition;Our General Practice CDSS received the Excellence Award in the Fourth Yangtze River Delta Health Governance Best Practice Case Selection in 2024;核心技術及產品能力的提升得益

125、於公司在研發領域堅定不移的投入。截至2024年12月31日止年度，包括研發費用和開發支出在內的研發總投入為人民幣296.8百萬元（其中核心技術研發投入為人民幣82百 萬 元，同 比 增 長13.2%），佔2024年 度總收入的40.4%。業務回顧在保持醫療大模型核心技術領先的前提下，公司在2024年與國內頂級醫療機 構開展了廣泛的合作，取得了顯著的成績，並獲得權威機構的認可：副總經理鹿曉亮先生作為團隊成員榮獲中華人民共和國國務院頒發的國家科學技術進步獎一等獎；在第七屆數字中國峰會上，國家數據局聯合多部門發佈了首批20個 數據要素 典型案例，涵蓋12個行業和領域，其中，智醫助理作為醫療健康領域的

126、代表，成功入選首批案例；獲安徽省科 學 技 術廳認定為 醫療人工智能研究及應用安徽省重點實驗室；與四川大學 華 西醫院 聯 合 發 佈 黌醫大模型，與北京安貞醫院、北京航空航天大學聯合發佈多模態大模型 心臟超聲診斷決策系統；合肥市傳染病防控智慧化預警多點觸 發系 統 獲 第二屆全國數字健 康創新應用大賽智能服務主題賽一等獎；產品智醫助理獲2024年第四屆長三角衛生健康治理最佳實踐案例評選卓越獎；Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report22

127、人工智能助力安徽省影像互聯互通入選長三角人工智能十大應用場景；認知大 模 型 賦 能 地 方影像雲，提升醫療服務效能以數字醫共體為依託，探索人工智能一體化慢病管理 入 選人民網 人民健康2024年健康中國創新實踐案例；獲得中國創新傳播大獎（蒲公英獎）公益營銷金獎。2024年末，公司作為 醫療大模型第一股成功登陸香港聯交所，為公司未來的發展開啟了全新的篇章。2024年，公司積極 進行市場拓展，客戶基 數 持 續 增 長。截 至2024年12月31日，公司向超過70,000家基層醫療機 構提 供產品及服務，涵蓋30多個省份670多個區縣，以 及500多家等級醫 院（包括 中國百強醫院當中的40多家

128、及十強醫院當中的7家）。廣泛的市場覆蓋充分證明了公司AI醫療產品的技術領先性、市場競爭力以及公司營銷體系的效率，並為公司業務的下一步快速發展奠定了堅實的基礎。Our AI-powered Image Interconnection and Interoperability in Anhui Province was selected as one of the top ten AI application scenarios in the Yangtze River Delta;Our“Cognitive LLM Empowers Local Image Cloud and Enhances

129、Medical Service Efficiency”and“Exploring Integrated AI Chronic Disease Management Based on Digital Medical Community”were selected as“Peoples HealthHealthy China Innovative Practice Case of 2024”by P;We received the Gold Award for Public Welfare Marketing in the China Innovation Communication Awards

130、(Dandelion Award).At the end of 2024,the Company was successfully listed on the Hong Kong Stock Exchange as the“first medical LLM stock”,opening a new chapter for its future growth.In 2024,the Company actively pursued market expansion and continued to grow its customer base.As of December 31,2024,th

131、e Company provided products and services to over 70,000 primary healthcare(PHC)institutions spanning over 670 districts and counties in more than 30 provinces as well as more than 500 higher-level hospitals(including more than 40 out of Chinas top 100 hospitals and 7 out of Chinas top 10 hospitals).

132、The extensive market coverage underscores the technological leadership and market competitiveness of our AI-powered medical products.It also highlights the efficiency of our marketing system,laying a solid foundation for the next phase of rapid business development.Management Discussion and Analysis

133、管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報23Leveraging its leading technological capabilities,extensive customer base,and brand recognition,the Company continues to improve its operational efficiency and seize new profit opportunities through synergistic commercialization strategies.For the year ended December 31

134、,2024,the Company recorded revenue of RMB734.0 million,representing an increase of 32.0%as compared with the revenue of RMB556.1 million for the previous year.For the year ended December 31,2024,the Companys gross profit was RMB404.1 million,reflecting an increase of 28.4%as compared with that of th

135、e previous year.Our gross profit margin was 55.1%,maintaining at a reasonable high level with a slight decrease of 1.5 percentage points from that of the previous year.This was primarily because in 2024,the Company made technical upgrades to most of its hospital services and products based on medica

136、l LLMs,which resulted in a decline in revenue and gross profit margin during the early marketing phase.As these products mature,the Company anticipates rapid revenue growth alongside an improvement in gross profit levels.For the year ended December 31,2024,the Companys revenue was mainly derived fro

137、m PHC services and patient services.The following table sets forth a breakdown of the Companys revenue by business segment for the periods indicated:202420232024年2023年RevenuePercentage of total revenueGross profitGrossprofit marginRevenuePercentage of total revenueGross profitGross profit margin收入佔總

138、收入毛利毛利率收入佔總收入毛利毛利率RMB000%RMB000%RMB000%RMB000%人民幣千元%人民幣千元%人民幣千元%人民幣千元%PHC services基層醫療服務237,03132.3142,48760.1239,75443.1143,68559.9Hospital services醫院服務132,03518.061,01646.264,91211.736,30855.9Regional healthcare solutions區域管理平臺 解決方案153,75520.981,86453.2116,63821.057,23949.1Patient services患者服務211,

139、16328.8118,71756.2134,82124.277,42257.4 Total總計733,984100.0404,08455.1556,125100.0314,65456.6 依託領先的技術能力、廣泛的客戶群及品牌認可度，公司不斷提高運營效率，通過協同商業化戰略抓住新的盈利機遇。截 至2024年12月31日 止 年 度，公司 錄 得收入人民幣734.0百萬元，較上年度的收入 人 民 幣556.1百 萬 元 增 加32.0%；截 至2024年12月31日止年度，公司的毛利為人民幣404.1百萬元，較上年度的毛利增加28.4%；毛 利率為55.1%，保持 在合 理的較高水平，比上年度的

140、毛利率略降低1.5個百分點，主要因為2024年公司基 於 醫療大模型對多數醫院服務產品進行了技術升級，在前期市場推廣過程中，收入毛利有所下降。隨著該類產品的逐步成熟，公司預期收入規模將快速增長，同時毛利水平將得到提升。截 至2024年12月31日 止 年 度，公司 的 收入主要來自於基層醫療服務和患者服務，下表載列公司於所示期間按業務分部劃分的收入明細：Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report24作為中國醫療人工智能的行業領跑者，公司基於領

141、先的醫療大模型技術，以及最大規模商業化應用帶來的醫學知識圖譜積淀，匹配 打造每個醫生的診療助理和每個居民的健康助手 的行業使命，打造了AI診療助理 產品族和AI健 康助手產品族，從而讓AI革命性地具備健康風險預警、健 康早篩、輔助診斷及 治療、診後管理與慢病管理等多種能力?；洞竽Ｐ?、大數據兩個核心能力平臺及診療助理和健康助手兩個核心產品族，公司打造了用AI賦能GBC（政務、產業、消費）客戶的多元化產品矩陣，包括(1)賦能健 康城市治理：為政 府關切的諸如強化基層醫療衛生服務、提升疾病防控能力、提升醫保使用效率等重點方面提供醫療人工智能技術；(2)賦能醫院質效提升：為醫院關切的醫療品質提升、患

142、者滿意度提升、醫院管理效率提升提供綜合人工智能解決方案；及(3)賦能個人健康：貫穿個人全生命週期的健康，提供數字影像服務、診後管理服務，以及 延伸到家庭的居家健康諮詢和管理APP（訊飛曉醫）和家用醫療器械（助聽器）。As a leader in Chinas medical AI sector,the Company leverages its cutting-edge medical LLM technologies and extensive medical knowledge graphs built through the largest-scale commercial applic

143、ation.Our mission is to create an AI medical assistant for every doctor and an AI health partner for everyone.To achieve this,we have rolled out two series of products,that is,Intelligent Assistant and Intelligent Health Partner.These products redefine the way AI works in areas,including health risk

144、 warnings,early health screening,auxiliary diagnosis and treatment,post-discharge patient management,and chronic disease management.Utilizing our two core capability platforms,LLMs and big data,and our two core product series,Intelligent Assistant and Intelligent Health Partner,the Company has devel

145、oped a diversified AI-powered product matrix that serves government,business,and consumer(GBC)users.This matrix includes:(1)Empowering healthy city governance:We provide medical AI technologies to address key government priorities,such as strengthening PHC services,improving disease prevention and c

146、ontrol,and enhancing the efficiency of healthcare insurance use;(2)Empowering hospital quality and efficiency improvement:We offer comprehensive AI solutions for hospitals to improve medical quality,patient satisfaction,and hospital management efficiency;and(3)Empowering personal health:We provide d

147、igital imaging services,post-discharge patient management services,a home health consulting and management APP(the Xunfei Xiaoyi APP),and home medical devices(hearing aids),supporting individuals throughout their entire health journey.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報25?

148、GovernmentAI+healthy city governanceAI+personal healthAI+hospital quality and effciency improvementAn AI medical assistant for every doctorMedical LLM technologiesMedical knowledge graphsIntelligent Assistant product seriesAn AI health partner for everyoneIntelligent Health Partner product seriesBus

149、inessConsumerEnabling technologiesIn-depth industry insightsMedical LLMsINTELLIGENT ASSISTANT PRODUCT SERIESIn 2024,the“Decision of the CPC Central Committee on Further Comprehensively Deepening Reform and Promoting Chinese Modernization”explicitly emphasized the need to strengthen PHC services.In r

150、esponse,the National Health Commission of the PRC(NHC)called for a grassroots-focused approach to reviewing and optimizing the healthcare system,service models,and healthcare concepts and order.The NHC also prioritized the implementation of foundational healthcare projects and the further expansion,

151、decentralization,and equitable regional distribution of high-quality medical resources.In 2024,the NHC,together with the State Administration of Traditional Chinese Medicine and the National Disease Control and Prevention Administration,issued the“Reference Guidelines for Artificial Intelligence App

152、lication Scenarios in the Healthcare Industry”,which further strengthened the support for the medical AI industry and the deep integration of AI technologies in the healthcare industry.AI診療助理產品族2024年 中共中央關於進一步全面深化改革、推進中國式現代化的決定 明確要求強化 基層醫療衛生服務。國家衛健委要求以基層為重點審視和優化醫療衛生服務體系、服務模式、就醫理念和秩序，實施醫療衛生強基工程，進一步推動

153、優質醫療資源擴容下沉和區域均衡佈局。2024年國家衛健委聯合國家中醫藥局、國家疾控局發佈了 衛生健康行業人工智能應用場景參考指引，進一步加強了對人工智能醫療行業的支持力度，推進人工智能在醫療行業的深度融合。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report26近年來，各級政府持續加大人工智能技術在輔助診療領域的推廣力度。面向基層醫生，鼓勵應用人工智能為醫生提供輔助診斷及 治療建議、提升醫學能力、規範診療流程，減少醫療過失，輔助家庭醫生完成慢病篩查、智

154、能評估、智能隨訪、個性化宣教等大量重複勞動，讓家庭醫生能夠專注於疾病診療和患者關懷，有效推進醫防融合，提升患者疾病康復效果；面向等級醫院醫生，人工智能技術正在快速滲透到醫院的診前、診中及診後的醫療全流程，包括智能分診、病歷管理及質控、影像診斷、臨床決策支持及科研等，能夠幫助醫院顯著提升診療效率、優化醫療管理流程。以上政策將在未來幾年內牽引醫療人工智能領域的投入，促進行業的快速發展。憑借公司在醫療大模型核心技術方面的領先優勢以及隨著公司成熟產品在全國範圍內的廣泛覆蓋，公司將迎來市場的快速發展?；鶎俞t療服務智醫助理：截至2024年12月31日，智醫助理已覆蓋全國30多個省市的670多個區縣超 過7

155、0,000個 基層醫 療機 構應 用，累計提供約9.1億次AI輔診建議，輔助生產標準化電子病歷超3.5億次，經智醫助理系統提醒而修正診斷的有價值病歷超160萬例，累計識別不合理處方數8,600萬份，輔助診 斷合理率已由2021年的約90%提高至目前的約95%，處 方審 核 準 確率已由2021年的約93%提高至目前的約95%，覆蓋疾病數量超1,900多種，有效降低了錯診漏診和用藥錯誤風險。全國大陸共有2,843個區縣，智醫助理的滲透率還有很大提高空間，在國家和省市政策的推動下，AI診療助理未來將迎來高速發展期。In recent years,governments at all levels

156、have increasingly promoted the adoption of AI technologies in auxiliary diagnosis and treatment.For primary care physicians,AI is encouraged to provide diagnostic and treatment recommendations,enhance medical capabilities,standardize clinical workflows,and reduce medical errors.AI also supports fami

157、ly doctors by automating repetitive tasks such as chronic disease screening,intelligent assessments,follow-ups,and personalized patient education,allowing them to focus more on diagnosis,treatment,and patient care.This integration effectively strengthens the coordination of medical treatment and dis

158、ease prevention,improving patient recovery outcomes.For doctors in higher-level hospitals,AI is rapidly transforming pre-,intra-,and post-diagnosis processes,including intelligent triage,management and quality control of medical records,image-based diagnosis,clinical decision support,and scientific

159、research.These advancements significantly enhance diagnostic and treatment efficiency and streamline healthcare management processes.These policies are expected to drive increased investment in the medical AI sector over the coming years,accelerating industry growth.With its leading core medical LLM

160、 technologies and extensive nationwide deployment of its mature products,the Company is well-positioned to capitalize on this momentum and achieve rapid market expansion.PHC SERVICESGeneral Practice CDSS:As of December 31,2024,General Practice CDSS was adopted in over 70,000 PHC institutions across

161、over 670 districts and counties in over 30 provinces and cities nationwide,accumulating approximately 910 million AI-assisted diagnosis suggestions and over 350 million standardized electronic medical records.It has prompted corrections in over 1.6 million significant medical records,identified 86 m

162、illion unreasonable prescriptions,increased the rationality rate of auxiliary diagnosis from approximately 90%in 2021 to approximately 95%currently,and improved the accuracy rate of prescription review from approximately 93%in 2021 to approximately 95%currently.It now covers over 1,900 diseases,effe

163、ctively reducing the risks of misdiagnosis,missed diagnosis,and medication errors.There are a total of 2,843 districts and counties across mainland China,indicating that there is still significant room for improvement in the penetration rate of General Practice CDSS.Driven by national,provincial and

164、 municipal policies,our Intelligent Assistant is set to enter a phase of rapid growth.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報27Chronic Disease Management:The Companys AI chronic disease management system is designed in accordance with Chinas basic public health service norms a

165、nd business guidelines,including the“National Primary Care Guidelines for Hypertension Management”and the“National Primary Care Guidelines for Diabetes Management”.The system automates key aspects of chronic disease management,such as screening,risk categorization and grading,follow-ups,personalized

166、 health education,and lifestyle interventions.This enables family doctors to focus on diagnosis,treatment,and patient care,effectively fostering the integration of medical treatment and prevention,improving chronic disease control rates,and reducing hospitalization rates due to complications.During

167、the Reporting Period,the chronic disease management system was deployed in over 100 districts and counties across Gansu,Anhui,Jiangsu,Hebei,Liaoning,Henan,and Sichuan provinces.For the year ended December 31,2024,the Companys revenue from PHC services was RMB237.0 million,representing 32.3%of its to

168、tal revenue for 2024.HOSPITAL SERVICESSmart Hospital Solutions:With advancements in medical LLM capabilities,the Companys Smart Hospital Solutions have gained greater traction,leading to deeper collaborations with more higher-level hospitals and enterprises.In April 2024,Xunfei Healthcare,West China

169、 Hospital of Sichuan University,and Huawei entered into a strategic cooperation agreement.This partnership focuses on innovative medical service models,enhanced patient experience,and the application of medical LLM technologies to drive AI adoption in hospitals,improve healthcare quality and public

170、health outcomes.As part of our initiative to establish West China Hospital as a benchmark for AI-powered healthcare,we launched an integrated patient service solution in West China Hospital of Sichuan University that has cumulatively served over 13 million patient visits.Additionally,the Companys in

171、telligent big data platform solutions support hospitals in developing“lakehouse”infrastructure,enhancing operation management and research capabilities.Currently,pilot projects in hospitals across Shenzhen,Beijing,and other locations have facilitated the storage of ten billion-level data entries,wit

172、h a daily real-time data increment of 20 million.Our research platform also supports the development of three specialized disease research cohorts,each comprising 100,000 individuals.慢病管理：公司的人工智能慢病管理系統，以國家基本公共衛生服務規範和 國家基層高血壓防治管理指南國家基層糖尿病防治管理指南 等業務指導文件為依據。人工智能慢病管理系統可自動幫助家庭醫生完成慢病篩查、分層分級、慢病隨訪、個性化健康宣教、自

173、動化生活幹 預等日常慢病管理服務，讓家庭醫生專注於 慢病診療和患者關懷，有效推進醫防融合，提高慢病控制率，降低慢病併發癥住院率。報告期內，慢病管理系統已在甘肅省、安徽省、江蘇省、河北省、遼寧省、河南省、四川省等地的100餘個區縣落地應用。截至2024年12月31日止年度，公司提供基層醫療服務錄得收入人民幣237.0百萬元，佔公司2024年度總收入的32.3%。醫院服務智慧醫院解決 方案：得益於醫療大模型能力升級所帶來智慧醫院解決方案的效果進一步呈現，公司與更多的等級醫院及企業建立了深入的合作。2024年4月，訊飛醫療與四川大學華西醫院、華為簽訂戰略合作協議，圍繞創新醫療服務模式、改善就醫體驗、

174、醫療大模型技術應用等重點領域展開深入合作，推動醫院人工智能發展、提升公眾健 康水平、提高醫療品質，並在華西醫院打造人工智能診療助理標桿?；颊叻站C合解決方案在四川大學華西醫院上線，累計服務超過1,300萬人次。公司通過提供智能大數據平臺方案為醫院提供 湖倉一體 基礎設施建設，賦能醫院運營管理和學科創新，目前已在 深圳、北京等地完 成醫院試點落地，支撐百億級數據容量存儲，日均實時變更捕獲增量2,000萬，科研隊列支撐建設3個10萬級大人群專病研究隊列。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology C

175、o.,Ltd.2024 Annual Report28AI診療 助理：通過持續的技術創新，公司可以幫助醫院及醫生應對普通及?？萍膊≡\斷、治療及管理的需求，提 升等級醫院醫生工作的效率和服務質量。面向等級醫院的?？艭DSS（臨床決策支持系統）涵蓋1,700多種疾病，VTE（靜脈栓塞）系統已實現智能評估超過170項與VTE相關的評估專案，AI評估與專家評估的一致率超過97%。截至2024年12月31日止年度，公司提供醫院服務錄得收入人民幣132.0百萬元，較2023年增長103.4%，佔2024年度總收 入的18.0%。區域管理平臺解決方案2024年國家出臺了一系列政 策加強新 型醫療健康基礎設施

176、建設，通過人工智能和數字化技術，改善醫療資源不均衡，推動公共衛生改革，助力公立醫院高質量發展，比如推廣三明醫改 模式，加快醫共體建設，構建傳染病監測預警體系，支持三批公立醫院高質量發展等。公司圍繞國家重大政策導向，基於全球領先的醫學人工智能核心技術，依託標準化產品主動構建場景化的解決方案，通過積極的市場 佈局，把握窗口期，建 立根據地城市，助力公司整體業務的快速增長。智慧 衛生 解決 方案：公司通過積極的市場 佈局和開拓，參與承建了安徽省、河南省和青海省等多個省級傳染病檢測預警和應急指揮平臺專案，未來將聯合探索醫學大模型在疾控領域的應用，為中國的傳染病防控工作貢獻公司的人工智能科技力量。此外，

177、公司將大模型技術應用於城市和區域健康數據的治理和智能化應用，並在 上 海市長寧區、深圳市龍華區率先開展了合作。Intelligent Assistant:Through ongoing technological innovation,the Companys Intelligent Assistant supports hospitals and physicians in diagnosing,treating,and managing both general and specialized diseases,enhancing work efficiency and service q

178、uality of doctors in higher-level hospitals.Specialized CDSS(Clinical Decision Support System)for higher-level hospitals now covers over 1,700 diseases,while the VTE(Venous Thromboembolism)system enables intelligent assessment of over 170 VTE-related items,achieving over 97%consistency with expert e

179、valuations.For the year ended December 31,2024,the Companys revenue from hospital services hit RMB132.0 million,representing an increase of 103.4%over 2023 and accounting for 18.0%of its total revenue for 2024.REGIONAL HEALTHCARE SOLUTIONSIn 2024,China introduced a series of policies to strengthen t

180、he development of new medical and healthcare infrastructure.AI and digital technologies were leveraged to address disparities in medical resources,advance public health reforms,and drive the high-quality development of public hospitals.For instance,the Sanming model in healthcare reform was promoted

181、 to accelerate the establishment of medical communities,develop an infectious disease monitoring and forewarning system,and support the high-quality development of three batches of public hospitals.Guided by these major national policies,the Company utilized world-leading core medical AI technologie

182、s and standardized products to develop scenario-based solutions.Through proactive market expansion,we capitalized on a critical window to establish base cities,driving rapid overall business growth.Regional Healthcare Administrator Services:Through strategic market planning and expansion,the Company

183、 has secured multiple provincial-level projects for infectious disease forewarning,alert,and response system(EWARS)platform in Anhui Province,Henan Province,and Qinghai Province.Looking ahead,the Company will collaborate on advancing the application of medical LLMs in disease control,contributing it

184、s AI expertise to Chinas infectious disease prevention and control efforts.Additionally,the Company have applied LLM technologies to the governance and intelligent utilization of urban and regional health data,initiating collaborations in Changning District,Shanghai,and Longhua District,Shenzhen.Man

185、agement Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報29Medical Insurance Administrative Solutions:Xunfei Healthcare has actively supported the needs for DRG(Diagnosis-Related Groups)and DIP(Diagnosis-Intervention Packet)payment methods as proposed under the Sanming healthcare reform by develop

186、ing an intelligent risk control system for medical insurance.This system analyses the full content of medical records,leveraging AI to provide comprehensive diagnosis and treatment services to medical institutions based on EMRs and medical insurance settlement data.It enables refined management unde

187、r the DRG/DIP payment mode while offering end-to-end fund supervision services to medical insurance bureaus before,during,and after settlement.Addressing challenges such as limited manpower,expertise,and oversight capabilities in medical insurance fund supervision,the system significantly enhances f

188、und utilization efficiency and promotes systematic governance and standardized fund management.Currently,it is in regular operation in Lvliang City,Shanxi Province,and Puer City,Yunnan Province,with deployments in Hefei(Anhui),Guiyang(Guizhou),Wuzhou(Guangxi),Jiujiang(Jiangxi),and other locations.Ul

189、timately,it fosters the coordinated development and governance of medical insurance,healthcare,and pharmaceuticals.For the year ended December 31,2024,the Companys revenue from regional healthcare solutions stood at RMB153.8 million,representing an increase of 31.8%as compared to 2023 and accounting

190、 for 20.9%of its total revenue for 2024.INTELLIGENT HEALTH PARTNER PRODUCT SERIESWith a mission to become a health partner for everyone,the Company has developed AI-powered health assistants based on the Xunfei Spark Medical Model and advanced AI technologies such as intelligent voice interaction.Th

191、ese assistants comprise four key components:AI-driven post-discharge patient management,the Xunfei Xiaoyi APP,the Cloud Medical Imaging Platform,and intelligent medical devices.By offering AI-enabled health partner services,the Company extends its reach to end-users,driving long-term and stable prof

192、itability growth.智慧醫保：圍繞三明醫改，公司積極回應DRG/DIP支付方式改革需求，研發了全病歷內涵解析醫保智能風控系統，通過人工智能技術，基於全病歷和醫保結算數據為醫療機構提供診療全流程服務，助力醫療機構在DRG/DIP支付模式下實現精細化管理，為醫保局提供結算前、中、後全流程基金監管服務，解決醫?；鸨O管中人力、能力和手段不足的問題，全方位提升醫?；鹗褂眯?，推動基金系統化治理與規範化使用。目前，已在山西省呂梁市、雲南省普洱市實現常態化運營，並在安徽省合肥市、貴州省貴陽市、廣 西省梧州市、江西省九江市等多地完成產品落地應用，有效促進醫保、醫療、醫藥協同發展和治理。截 至

193、2024年12月31日止 年 度，公司 提 供區域管理平臺解決方案錄得收入人民幣153.8百 萬 元，較2023年 增 長31.8%，佔公司2024年度總收入的20.9%。AI健康助手產品族 公司以致力於打造每個人的健康助手為使命，基於星火醫療大模型和智能語音交互等人工智能技術構建 AI健康助手，主要包括AI診後患者管理、訊飛曉醫、影像雲與輔助診斷平臺、智能醫療器械4個方向。通過提供AI健康助手服務，公司將業務範圍延伸到終端用戶，以提供長期和穩定的盈利能力和增長態勢。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Tec

194、hnology Co.,Ltd.2024 Annual Report30AI診後患者管理：我國衛生健康事業發展統計公報顯示，2023年患者入院達3億人次，患者出院後若沒有持續 服務，出現突發情況得不到及時指導和救治，將會造成重大生命健康問題和社會衛生資源浪費。近年來，國家越來越重視診後患者管理，中辦國辦印發的 關於進一步完善醫療衛生服務體系的意見 中要求 擴大康復和護理等接續性服務供給，國家衛健委在 關於開展改善就醫感受提升患者體驗主題活動的通知 也明確指出 加強診後管理與隨訪。公司研發的AI診後患者管理產品，基於星火醫療大模型 進行了全面升級，能夠充分理解患者電子病歷記錄的內容，自動整理患者

195、的關鍵診療信息，根據學習到的循證疾病管理知識，自動為患者生成個體化的康復計劃，並通過內容生成、語音識別、語音合成等技術與患者進行更形象、更自然的交互，幫助醫生對患者進行疾病科普和康復指導，定期病情評估並提供配套的生活方式改進方案，且根據患者的回饋識別風險提醒醫生及時關注。AI-driven Post-discharge Patient Management:The Statistical Bulletin on the Development of Chinas Health and Wellness Undertakings reports that patient admissions r

196、eached 300 million in 2023.Without continuous post-discharge care,emergencies lacking timely guidance and treatment can lead to severe health risks and unnecessary strain on social healthcare resources.In recent years,China has increasingly prioritized post-discharge patient management.The“Opinions

197、on Further Improving the Medicine and Healthcare System”,issued by the General Offices of the CPC Central Committee and the State Council,calls for an“expanded supply of follow-up services such as rehabilitation and nursing care”.Similarly,the NHC,in its“Circular on the Themed Activity to Improve Me

198、dical Care Experience and Enhance Patient Satisfaction”,emphasizes the need to“strengthen post-discharge patient management and follow-ups”.The Companys AI-driven post-discharge patient management system,fully upgraded based on the Xunfei Spark Medical Model,can comprehensively analyze EMRs,automati

199、cally extract key diagnostic and treatment information,and generate personalized recovery plans based on evidence-based disease management knowledge.Additionally,leveraging advanced technologies such as content generation,speech recognition,and speech synthesis,the system enables more natural and in

200、teractive patient engagement.It assists physicians in delivering disease information and rehabilitation guidance,regularly assesses patient conditions,provides lifestyle improvement recommendations,and identifies potential risks based on patient feedback,ensuring timely alerts for physicians when ne

201、cessary.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報31As of December 31,2024,our AI-driven post-discharge patient management system became operational in a large number of hospitals,including the West China Hospital of Sichuan University,Tongji Hospital affiliated to Tongji Medical

202、 College of Huazhong University of Science&Technology,Beijing Tiantan Hospital affiliated to Capital Medical University,Beijing Tongren Hospital affiliated to Capital Medical University,Zhongnan Hospital of Wuhan University,Zhongda Hospital of Southeast University,Shandong Provincial Hospital,the Fi

203、rst Affiliated Hospital of Henan University,the First Hospital of Hebei Medical University,the Affiliated Hospital of Hebei University,Gansun Provincial Central Hospital,the Peoples Hospital of Ningxia Hui Autonomous Region,and the First Affiliated Hospital of China University of Science and Technol

204、ogy.At West China Hospital of Sichuan University,for instance,the system has served more than 1.2 million patients,and achieved a 100%follow-up rate for discharged patients.In 2024,the system expanded into leading hospitals across six provinces/autonomous regions,that is,Jiangsu,Shandong,Henan,Hebei

205、,Gansu,and Ningxia,which laid a solid foundation for broader adoption and rapid growth across these areas in 2025.Xunfei Xiaoxi App:On June 27,2024,Xunfei Healthcare launched an upgrade to the Xunfei Xiaoyi APP,enhancing its capabilities for personalized applications in specialized fields by introdu

206、cing the Personal Digital Health Space.This AI-powered health partner aims to serve individuals and families alike.The Personal Digital Health Space creates a tailored digital health environment based on users personalized information,such as EMRs,examination reports,and physical examination results

207、.It offers in-depth analysis of potential health issues prior to doctor visits,provides personalized drug contraindication recommendations,and tracks changes in health data through examination comparisons.Additionally,the app can monitor the health status of other family members by enabling role swi

208、tching.With these advancements,the Xunfei Xiaoyi APP now covers 1,600 common diseases,2,800 common medicines,and 6,000 common tests and examinations,addressing users core health needs across pre-visit,medication,and post-test scenarios.截至2024年12月31日，AI診後患者管理已經在四川大學華西醫院、華中科大醫學院附屬同濟醫院、首都醫科大學附屬北京天壇醫院、首

209、都醫科大學附屬北京同仁醫院、武 漢 大學中南醫院、東南大學附屬中大醫院、山東省立醫院、河南大學第一附屬醫院、河北醫科大學第一醫院、河北大學附屬醫院、甘肅省中心醫院、寧夏自治區人民醫院、中科大附一院等上線 應用，以四川大學 華西醫院為例，AI診後患者管理累計服務患者超120萬人次，出院患者隨訪覆蓋率已達到100%。2024年，AI 診 後 患者 管 理 在 江 蘇、山東、河南、河北、甘 肅、寧夏等6省自治區的頭部醫院市場佈局上取得突破，為2025年AI診後患者管理在相關省市全面推廣和高速發展打下堅實基礎。訊 飛曉 醫：2024年6月27日，面向專業領域的個性化應用，訊飛醫療升級訊飛曉醫APP，發

210、佈 個人數字健康空間，打造每個人、每個家庭的AI健康助手。個人數字健康空間 能夠根據電子病歷、檢查報告、體檢報告等用戶個性化資料，構建個人數字健康空間，在看病前可以進一步剖析病癥原因，用藥時給出藥物禁忌的個性化判斷，在檢查後聯合對比給出數據變化，並通過角色切換瞭解其他家庭成員的健康狀況。在此基礎上，訊飛 曉醫APP各項能力持續升級，已覆蓋1,600種 常見 疾 病、2,800種 常見 藥 品、6,000種常見檢查檢驗，可以滿足用戶在看病前、用藥時、檢 查後的核心 場景健康需求。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcar

211、e Technology Co.,Ltd.2024 Annual Report32截 至2024年12月31日，訊 飛 曉 醫 APP下載 量 已 突 破2,000萬 次，用 戶 好 評 率 達98%，用戶主動推薦率達42%。2025年3月3日，星火醫療大模型X1正式應用於訊飛曉醫APP，訊飛曉醫與個人健康檔案的融合更加深入，在用戶健 康諮詢時，它能深度洞察用戶健康狀況並思考潛在需求，給出的醫療建議更加個性化、更具體實用，在個人AI健康助手方向又邁出了堅實的一步。報告期內，訊飛曉醫未產生收入。未來，公司將通過集 成專業醫療服務，持續探索訊飛曉醫作為C端移動APP的商業模式。影像雲 與 輔助 診

212、 斷平臺：公司在安徽省打造了中國最大的區域影像數據互聯互通互認的影像雲平臺，數據服務使用量超 過112百 萬 次。2024年11月，國家醫 保局、國家衛生健康委等七部委發佈 關於進一步推進醫療機構檢查檢驗結果互認的 指 導意 見，要求 2025年底 所有二 級及以上公立醫院實現檢查結果跨機構調閱；國家衛 健委等三部門發佈 放 射 檢查類醫療服務價格專案立項指南，要求將數字影像服務納入醫療機構檢查專案內涵，如不能 提 供 則 扣 減5元部 位。政策大力支持人工智能賦醫學影像調閱和診斷，通過訊飛醫療打造的影像雲與輔助診斷平臺，全省各級醫院的醫生可將影像結果上傳至影像雲平臺，並查閱其他醫院上傳的影像

213、數據及影像報告，實現醫療數據互聯互通，減少不必要的重複檢查，避免患者受到不必要的射線傷害。影像雲與輔助診斷平臺旨在提供遠程諮詢服務、數字影像服務、雲放 射科資訊系統PACS（影像歸檔和通信系統）、設備及基礎設施服務及AI輔助影像診斷。As of December 31,2024,the Xunfei Xiaoyi APP was downloaded over 20 million times,with a user satisfaction rate of 98%and a user recommendation rate of 42%.On March 3,2025,the Xunfei

214、Spark Medical Model X1 was officially integrated into the app.This deeper integration with personal health records allows the app to gain a comprehensive understanding of users health conditions,anticipate their potential needs,and provide more personalized,specific,and actionable medical advice.Thi

215、s marks a significant step toward becoming an AI-driven personal health partner.During the Reporting Period,the Xunfei Xiaoyi APP generated no revenue.Moving forward,the Company plans to explore potential business models for the app by incorporating professional medical services.Cloud Medical Imagin

216、g Platform for Auxiliary Diagnosis:The Company has built the largest regional imaging data connectivity and recognition cloud platform in China in Anhui Province,with data service usage exceeding 112 million times.In November 2024,seven national ministries and commissions,including the National Heal

217、thcare Security Administration and the National Health Commission,issued the“Guiding Opinions on Further Promoting Mutual Recognition of Medical Examination and Test Results across Medical Institutions”.This directive mandates that by the end of 2025,all public hospitals at level II and above should

218、 implement inter-institutional access to examination and test results.Additionally,the“Guidelines for Pricing of Radiological Inspection-related Medical Services”issued by three national ministries,including the National Health Commission,stipulates that digital imaging services should be offered by

219、 medical institutions as part of their examination items.If not,a deduction of RMB5/part under examination will apply.In response to these policies,which strongly support AI-enabled medical image access and diagnosis,Xunfei Healthcare has developed a cloud medical imaging platform for auxiliary diag

220、nosis.This platform enables physicians at all levels of hospitals across provinces to upload image results and access data and reports from other hospitals.It facilitates healthcare data interconnection,reducing unnecessary repeated examinations and preventing patients from unnecessary radiation exp

221、osure.The platform offers remote consultation services,digital imaging services,cloud-based radiology information systems(RIS)/picture archiving and communication systems(PACS),equipment and infrastructure services,as well as AI-assisted image diagnosis.Management Discussion and Analysis管理層討論與分析 訊飛醫

222、療科技股份有限公司二零二四年年報33In October 2024,the Company launched the Xunfei Spark Medical Imaging Model along with an intelligent medical imaging assistant built on this model.The system deeply integrates AI technologies in medical imaging,utilizing image recognition algorithms and medical cognitive intellige

223、nce engines to establish a cross-institution image data interconnection and communication system.It enables efficient collaboration of large-scale image data through intelligent compression,transmission technologies,and distributed cloud storage solutions,significantly reducing the number of repeate

224、d image examinations and the associated costs.In the intelligent quality control process,the imaging assistant helps technicians quickly assess image quality and address examination issues promptly.In intelligent diagnosis,it supports imaging physicians in rapidly generating diagnostic reports,provi

225、ding traceability explanations,and making multi-period comparisons.During intelligent image interpretation,the assistant connects to medical imaging LLMs,aiding clinicians in formulating diagnostic and treatment plans through relevant Q&As.To date,the Company has established and operates Chinas firs

226、t cloud medical imaging platform that achieves interconnection and mutual recognition.This platform is expected to be promoted efficiently across other regions outside Anhui Province,driven by the favorable policies such as the“Guiding Opinions on Further Promoting Mutual Recognition of Medical Exam

227、ination and Test Results across Medical Institutions”and the“Guidelines for Pricing of Radiological Inspection-related Medical Services”.As at December 31,2024,over 1,970 medical institutions and over 3,200 experts registered on the platform.As at the same date,the cloud medical imaging platform ser

228、ved nearly 8.49 million remote consultations in Anhui Province.2024年10月，公司發 佈 訊 飛星火醫學影像大模型以及基於訊飛星火醫學影像大模型打造的智能醫學影像助手。該產品深度融合醫學影像AI技術，依託圖像識別演算法與醫學認知智能引擎，構建 跨機構影像數據互聯互通系統，通過智能壓縮傳輸技術和分佈式雲端存儲實現海量影像數據的高效協同，減少大量不必要的重複影像檢查和因此引起的額外費用支出。在智能質控環節，智能醫學影像助手可幫助影像技師快速評估圖像品質，及時糾正檢查問題；在智能診斷環節，智能醫學影像助手可以幫助影像醫師快速生成診斷報

229、告，解釋溯源並多期對比；在智能讀片環節，智能醫學影像助手可接入醫學影像大模型，通過相關問答，幫助臨床醫師制定診療方案。得益於公司建設了全國首家實現互聯互通互認的數字影像雲平臺並實現運營，智能醫學影像 助 手將有望在 關 於 進一步推 進醫療機構檢查檢驗結果互認的指導意見 和放射檢查類醫療服務價格專案立項指南的政策驅動下，在安徽省外的其他區域進行有效地推廣。截 至2024年12月31日，超 過1,970家 醫 療機構和超過3,200名專家已在平臺上註冊。截至同日，影像雲平臺在安徽省遠程會診服務量近8.49百萬次。Management Discussion and Analysis管理層討論與分析

230、 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report34智能 醫 療 器 械：十四五期間，我國60歲及以上老年人口總數將突破3億，我國將從輕度老齡化邁 入中度老齡化階段，聽力下降是老年人普遍存 在的問題。公司的醫療器械主要包含通過電商平臺為個人客戶提供的助聽器。配備公司的場景識別系統及AIScene（公司內部開發的場景識別系統），助聽器可以即時監控用戶的所在環境，提 供增強、降噪等功能。2022年，訊飛智能助聽器首次上市，同年推出性能升級的尊享版，以良好的性能、智能化的體驗、親 民的價格，得到市場和消費者的充分認可。2024年4月，公

231、司推出新系列助聽器 星系列。該新系列助聽器採用耳背式外觀，配備升級的場景識別系統技術，採用智能64通道、32個可調頻 點，滿檔增益高達70分貝，滿足極重度聽損人群的需求，並由訊飛星火醫療大模型賦能，為助聽器市場上掀起AI新風潮。2024年12月，公司 發 佈了高端智能 耳背式助聽器Pro 皓月盈月系列，該產品集 成了公司的智能語音識別技術，在多模態字幕助聽、深海級降噪系統等功能上全面升級。多模態字幕助聽功能即時語音文字轉寫，真正實現 聲音被看見。據研究表明，視聽結合比單聽或單看的言語理 解能力更高，皓月盈月系列助聽器真正做到了讓聽力受損者接近正常人聽力水平，達到更強的助聽效果。2024年，訊飛

232、助聽器在中國主流電商平臺京 東 及 天 貓 中均 佔 據 品 牌 TOP3。在618購物節 中，訊飛助聽器獲得助聽器品類天貓第一，京東第二的成績，在 雙十一購物節 中，訊飛助聽器分列兩個平臺的第二名。截至2024年12月31日，智能硬體助聽器累計銷量逾14萬臺。Intelligent Medical Devices:During the 14th Five-Year Plan period,Chinas population aged 60 and above will surpass 300 million,marking a transition from a mildly ageing

233、society to a moderately ageing one.Hearing loss is a prevalent issue among the elderly.The Companys medical devices primarily include hearing aids,which are sold to individual customers via e-commerce platforms.Equipped with the Companys internally developed scene recognition system,AIScene,these he

234、aring aids can monitor users environment in real-time,offering functions such as sound enhancement and noise reduction.In 2022,Xunfei smart hearing aids were launched,followed by an upgraded premium version in the same year.With excellent performance,an intelligent user experience,and affordable pri

235、ces,they have been highly praised by the market and consumers.In April 2024,the Company introduced the Xing series,a new line of hearing aids featuring a behind-the-ear design.This series is equipped with the upgraded scene recognition system,intelligent 64 channels,32 adjustable frequency points,an

236、d a full-scale gain of up to 70 decibels,catering to individuals with profound hearing loss.Empowered by the Xunfei Spark Medical Model,these hearing aids are ushering in a new era of AI in the hearing aid market.In December 2024,the Company launched the pro-version intelligent behind-the-ear hearin

237、g aids:Haoyue/Yingyue series.These hearing aids integrate our advanced intelligent speech recognition technology and feature comprehensive upgrades,including multimodal subtitle assistance and a deep-sea-level noise reduction system.The multimodal subtitle assistance function transcribes speech into

238、 text in real time,allowing users to“see”the sound,which enhances communication.Research indicates that combining vision and hearing significantly improves speech comprehension compared to relying on hearing or vision alone.The Haoyue/Yingyue series empowers individuals with hearing loss to approach

239、 the hearing levels of those with normal hearing,offering an optimal user experience.In 2024,our hearing aids ranked among the top three brands on Chinas major e-commerce platforms,JD.com and Tmall.During the“618 Shopping Festival”,they ranked first in the hearing aid category on Tmall and second on

240、 JD.com.During the“Double Eleven Shopping Festival”,they ranked second on both platforms.As of December 31,2024,the cumulative sales of smart hardware hearing aids exceeded 140,000 units.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報35For the year ended December 31,2024,the Companys

241、revenue from patient services was RMB211.2 million,representing an increase of 56.6%over 2023 and accounting for 28.8%of its total revenue for 2024.FINANCIAL REVIEWREVENUEThe Companys total revenue increased by 32.0%from RMB556.1 million for the year ended December 31,2023 to RMB734.0 million for th

242、e year ended December 31,2024.Such increase was mainly attributable to the growth from patient services(56.6%year-on-year growth in revenue),hospital services(103.4%year-on-year growth in revenue)and regional healthcare solutions(31.8%year-on-year growth in revenue).COST OF SALESThe Companys cost of

243、 sales increased by 36.6%from RMB241.5 million for the year ended December 31,2023 to RMB329.9 million for the year ended December 31,2024,primarily due to the increase in costs as revenue grew.GROSS PROFIT AND GROSS PROFIT MARGINThe Companys gross profit increased by 28.4%from RMB314.7 million for

244、the year ended December 31,2023 to RMB404.1 million for the year ended December 31,2024.The Companys gross profit margin was 56.6%and 55.1%for the year ended December 31,2023 and the year ended December 31,2024,respectively,representing a small change.OTHER INCOMEThe Companys other income decreased

245、by 14.3%from RMB48.6 million for the year ended December 31,2023 to RMB41.6 million for the year ended December 31,2024,primarily due to the decrease in value-added tax refund income as well as government grants for the period.截至2024年12月31日止年度，公司提供患者服務錄得收入人民幣211.2百萬元，較2023年增長56.6%，佔公司2024年度總收入的28.8%

246、。財務回顧收入公司 的 總 收 入 由截 至2023年12月31日止年 度 的 人 民 幣556.1百 萬 元 增 加32.0%至 截 至2024年12月31日止 年度的人 民 幣734.0百萬元，該增加主要歸因於患者服務（收 入 同 比 增 長56.6%）、醫 院 服 務（收入同比增長103.4%）、區域管理平臺解決方案（收入同比增長31.8%）帶來的增長。銷售成本公司 的 銷 售成 本由截 至2023年12月31日止年度的人 民幣241.5百 萬元 增加36.6%至 截 至2024年12月31日止 年度的人 民 幣329.9百萬元，主要由於伴隨著收入增長而帶來的成本增加。毛利及毛利率公司的

247、毛利由截至2023年12月31日止年度的 人 民 幣314.7百 萬 元 增 加28.4%至 截 至2024年12月31日止年度的人民幣404.1百萬元。公司的毛利率於截至2023年12月31日止年度及截至2024年12月31日止年度，分別為56.6%及55.1%，毛利率波動較小。其他收入公司的 其他 收 入由截 至2023年12月31日止年度的人民幣48.6百萬元減少14.3%至截至2024年12月31日止年度的人民幣41.6百萬元，主要系本期增值稅退稅收入以及政府補助下降所致。Management Discussion and Analysis管理層討論與分析 Xunfei Healthc

248、are Technology Co.,Ltd.2024 Annual Report36預期信貸虧損模型下的減值虧損（扣除撥回）公司在預期信貸虧損模型下扣除撥回後的 減 值 虧 損由截 至2023年12月31日止年度的人民幣6.2百萬元增加116.6%至截至2024年12月31日止年度的人民幣13.4百萬元，主要由於期末貿易應收 款、合同資產以及長期應收款餘額增加所致。其他收益及虧損公司 於 截 至2023年12月31日止年度 錄 得其 他 收 益 人 民 幣0.7百 萬 元，而 於 截 至2024年12月31日止年度 則 錄得 其他 虧 損人民幣0.1百萬元，主要由於本期購買理財產品收益減少以

249、及捐贈增加所致。銷售開支公司 的 銷 售開 支由截 至2023年12月31日止 年 度 的 人 民 幣163.1百 萬 元 增 加17.8%至 截 至2024年12月31日止 年度的人 民 幣192.1百萬元。該增加主要歸因於智能助聽器和訊飛曉醫廣宣投入帶來的廣告宣傳費增加所致。行政開支公司 的 行 政 開 支由截 至2023年12月31日止年度的人民幣112.6百萬元減少14.8%至截至2024年12月31日止年度的人民幣95.9百萬元，主要由於股權激勵攤銷減少所致。研發開支公司的 研 發 開支由截 至2023年12月31日止 年 度 的 人 民 幣264.0百 萬 元 增 加3.0%至 截

250、 至2024年12月31日止 年度的人 民 幣271.9百萬元，主要由於核心技術研發和產品研發人力成本增加所致。IMPAIRMENT LOSSES UNDER EXPECTED CREDIT LOSS MODEL,NET OF REVERSALThe Companys impairment losses under the expected credit loss model,net of reversal,increased by 116.6%from RMB6.2 million for the year ended December 31,2023 to RMB13.4 million

251、for the year ended December 31,2024,primarily due to the increase in the trade receivables,contract assets and the balance of long-term receivables as at the end of the period.OTHER GAINS AND LOSSESThe Companys other gains were RMB0.7 million for the year ended December 31,2023,compared to other los

252、ses of RMB0.1 million for the year ended December 31,2024,primarily due to the decrease in income from purchase of wealth management products and the increase in donations for the period.SELLING EXPENSESThe Companys selling expenses increased by 17.8%from RMB163.1 million for the year ended December

253、 31,2023 to RMB192.1 million for the year ended December 31,2024.Such increase was mainly attributable to the increase in advertising and promotion expenses arising from the investment in smart hearing aids and Xunfei Xiaoyi APPs advertising and promotion.ADMINISTRATIVE EXPENSESThe Companys administ

254、rative expenses decreased by 14.8%from RMB112.6 million for the year ended December 31,2023 to RMB95.9 million for the year ended December 31,2024,primarily due to the decrease in amortization of equity incentives.RESEARCH AND DEVELOPMENT EXPENSESThe Companys research and development expenses increa

255、sed by 3.0%from RMB264.0 million for the year ended December 31,2023 to RMB271.9 million for the year ended December 31,2024,primarily due to the increase in labor costs for core technology research and development and product development.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年

256、報37LISTING EXPENSESListing expenses refer to professional fees,underwriting commissions and other expenses incurred in connection with the Global Offering.The Companys listing expenses increased by 880.0%from RMB3.9 million for the year ended December 31,2023 to RMB38.2 million for the year ended De

257、cember 31,2024.FINANCE COSTSThe Companys finance costs increased by 407.0%from RMB1.2 million for the year ended December 31,2023 to RMB6.1 million for the year ended December 31,2024,primarily due to the increase in relevant interest expenses of bank borrowings.INCOME TAX CREDITThe Companys income

258、tax credit amounted to RMB32.7 million and RMB34.4 million for the year ended December 31,2023 and for the year ended December 31,2024,respectively,primarily due to the increase in deferred income tax expenses.LOSS FOR THE YEARBased on the foregoing,the Companys loss for the year decreased by 10.8%f

259、rom RMB154.2 million for the year ended December 31,2023 to RMB137.6 million for the year ended December 31,2024.NON-IFRS MEASURESTo supplement the Companys consolidated financial statements,which are presented in accordance with IFRS,the Company uses adjusted net loss for the year(non-IFRS measure)

260、and adjusted net loss margin(non-IFRS measure)as additional financial measures,which are not required by,or presented in accordance with,IFRS.The Company believes that these non-IFRS measures help to compare operating results across periods and companies by eliminating the potential impacts of certa

261、in items.The Company believes that these non-IFRS measures,when presented in conjunction with the corresponding IFRS measures,provide useful information for potential investors and management by eliminating the potential impact of certain items,helping to compare the Companys operating performance a

262、cross periods.上市開支上市開支指與全球發售有關的專業費用、包銷傭金及 產生的其他費用。公司的上市 開 支由 截 至2023年12月31日止年度的人民幣3.9百萬元增加880.0%至截至2024年12月31日止年度的人民幣38.2百萬元。財務成本公司 的 財務 成 本由截 至2023年12月31日止年度的人民幣1.2百萬元增加407.0%至截 至2024年12月31日止年度的人 民幣6.1百萬元，主要由於銀行借款相關利息支出增加所致。所得稅抵免公司的所得稅抵免於截至2023年12月31日止年度及截至2024年12月31日止年度分別為人民幣32.7百萬元及人民幣34.4百萬元，主要由

263、於遞延所得稅費用增加所致。年內虧損基於上文所述，公司的年內虧損由截至2023年12月31日止年度的人 民 幣154.2百萬元減少10.8%至截至2024年12月31日止年度的人民幣137.6百萬元。非國際財務報告準則計量為補充公司根據國際財務報告準則呈列的綜合財務報表，公司使用經調整年內淨虧損（非國際財務報告準則計量）及 經調整淨虧損率（非國際財務報告準則計量）作為額外財務計量，其不為國際財務報告準則所要求或根據國際財務報告準則呈列。公司認為該等非國際財務報告準則計量通過消除若干項目的潛在影響，幫助比較不同期間及公司的經營業績。公司認為，該等非國際財務報告準則計量與相應的國際財務報告準則計量一

264、併呈列時，可通過消除若干項目的潛在影響，為潛在投資者及管理層提供有用資料，幫助比較公司各期間的經營業績。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report38The Company defines adjusted loss for the year(non-IFRS measure)as loss for the year adjusted by adding back equity-settled share-based payments and

265、 listing expenses.Equity-settled share-based payments are non-cash in nature and mainly refer to arrangements where the Company receives employee services as consideration for equity instruments.Equity-settled share-based payments are not expected to result in future cash payments.Listing expenses a

266、re expenses for professional fees,underwriting commissions and other expenses incurred in connection with the Global Offering.The use of non-IFRS measures as analytical tools has limitations,and they should not be considered in isolation or as a substitute for or superior to analysis of the Companys

267、 operating results or financial condition as reported under IFRS.In addition,the definition of non-IFRS measures may differ from similarly titled terms used by other companies.The following table is a reconciliation of adjusted net loss for the year(non-IFRS measure)and adjusted net loss margin(non-

268、IFRS measure)for the periods indicated:For the year ended December 31,截至12月31日止年度 202420232024年2023年RMB000RMB000人民幣千元人民幣千元 Loss and total comprehensive expense for the year年內虧損及全面開支總額(137,636)(154,224)Add:Equity-settled share-based payments加：以權益結算以股份為基礎的支付54,62893,331Add:Listing expenses加：上市開支38,231

269、3,901Adjusted net loss for the year(non-IFRS measure)年內經調整淨虧損（非國際財務報告準則計量）(44,777)(56,992)Adjusted net loss margin(non-IFRS measure)(%)經調整淨虧損率（非國際財務報告準則計量）(%)(6.1%)(10.2%)公司將年內經調整虧損（非國際財務報告準則計量）界定為經加回以權益結算以股份為基礎的支付及上市開支調整的期內虧損。以權益結算以股份為基礎的支付為非現金性質，主要指公司接受僱員服務作為權益工具代價的安排。以權益結算以股份為基礎的支付預計不會導致產生未來現金付款。

270、上市開支為就全球發售產生的專業費用、包銷傭金及其他費用的開支。使用非國際財務報告準則計量作為分析工具存 在局限性，不應將其視為獨立於或取代或優於公司根據國際財務報告準則所呈報的經營業績或財務狀況的分析。此外，非國際財務報告準則計量的定義可能與其他公司使用的類似術語有所不同。下表為所示期間年內經調整淨虧損（非國際財務報告準則計量）與經調整淨虧損率（非國際財務報告準則計量）的對賬：Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報39LIQUIDITY AND SOURCES OF FUNDSFor the year end

271、ed December 31,2024,the Company primarily met our cash requirements through shareholder capital contribution,bank borrowings,and cash generated from operations.As at December 31,2023 and December 31,2024,the Companys cash and cash equivalents were RMB142.5 million and RMB676.8 million,respectively.C

272、ash and cash equivalents of the Group are mainly held in HK$as at December 31,2024.The following table sets forth the Companys cash flows for the years indicated:For the year ended December 31,截至12月31日止年度 202420232024年2023年RMB in millionsRMB in millions人民幣百萬元人民幣百萬元 Net cash used in operating activit

273、ies經營活動所用現金淨額(134.1)(314.3)Net cash from(used in)investing activities投資活動所得（所用）現金 淨額(4.3)0.5Net cash from financing activities融資活動所得現金淨額672.6293.3Net increase/(decrease)in cash and cash equivalents現金及現金等價物增加（減少）淨額534.3(20.5)Cash and cash equivalents at the beginning of the year年初現金及現金等價物142.5163.0Ca

274、sh and cash equivalents at the end of the year,presented as bank balances and cash年末現金及現金等價物，以銀行結餘及現金列示676.8142.5 Looking ahead,the Company believes that the Company will be able to meet its liquidity requirements by using cash generated from operating activities and the net proceeds from the Global

275、 Offering.流動資金及資金來源於截至2024年12月31日止年度，公司主要以股東資本投入及銀行借款以及經營所得現金滿足現金需求。於2023年12月31日及2024年12月31日，公司的現金及現金等價物分別為人民幣142.5百萬元及人民幣676.8百 萬 元。於2024年12月31日，本 集團的現金及現金等價物主要以港幣持有。下表載列公司於所示年度的現金流量：展望未來，公司認為公司將能夠通過使用經營活動所得現金及全球發售募集資金淨額來滿足公司的流動性要求。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Techno

276、logy Co.,Ltd.2024 Annual Report40NET CASH USED IN OPERATING ACTIVITIESFor the year ended December 31,2024,the Companys net cash used in operating activities was RMB134.1 million,which was mainly due to loss before tax of RMB172.0 million,adjusted by non-cash and non-operating items,which mainly cons

277、isted of an increase in trade and other receivables of RMB255.6 million,and such cash outflow was partially offset by(i)equity-settled share-based payments of RMB54.6 million;(ii)other intangible asset amortization of RMB37.7 million;and(iii)an increase in bill,trade and other payables of RMB148.2 m

278、illion.For the year ended December 31,2023,the Companys net cash used in operating activities was RMB314.3 million,which was mainly due to loss before tax of RMB186.9 million,adjusted by non-cash and non-operating items,which mainly consisted of an increase in trade and other receivables of RMB187.1

279、 million,and such cash outflow was partially offset by(i)equity-settled share-based payments of RMB93.3 million;and(ii)an increase in bill,trade and other payables of RMB85.1 million.NET CASH FROM(USED IN)INVESTING ACTIVITIESDuring the year ended December 31,2024,the Companys net cash used in invest

280、ing activities was RMB4.3 million,which was mainly attributable to withdrawals of financial assets at fair value through profit or loss of RMB75.3 million,partially offset by(i)the purchase of financial assets at fair value through profit or loss of RMB50.0 million;and(ii)the purchase of other intan

281、gible assets of RMB25.0 million.During the year ended December 31,2023,the Companys net cash from investing activities was RMB0.5 million,which was mainly attributable to withdrawals of financial assets at fair value through profit or loss of RMB373.5 million,partially offset by(i)purchase of financ

282、ial assets at fair value through profit or loss of RMB312.6 million;(ii)purchase of other intangible assets of RMB25.7 million;and(iii)the acquisition of subsidiaries of RMB24.2 million.經營活動所用現金淨額於 截 至2024年12月31日 止 年 度，公司 的經營活動所用現金淨額為人民幣134.1百萬元，主要是由於稅前虧損人民幣172.0百萬元，經非現金及非經營項目（主要包括貿易及其他應收款項增加人民幣255.

283、6百萬元）調整，且該等現金流出部分被(i)以權益結算以股份為基礎的支付人民幣54.6百萬元；(ii)其他無形資產攤銷人民幣37.7百萬元；及(iii)票據、貿易及其他應付款項增加人民幣148.2百萬元所抵銷。於截至2023年12月31日止年度，公司的經營活動所用現金淨額為人民幣314.3百萬元，主要是由於稅前虧損人民幣186.9百萬元，經非現金及非經營項目（主要包括貿易及其他應收款項增加人民幣187.1百萬元）調整，且該等現金流出部分被(i)以權益結算以股份為基礎的支付人民幣93.3百萬元；及(ii)票據、貿易及其他應付款項增加人民幣85.1百萬元所抵銷。投資活動所得（所用）現金淨額於截至20

284、24年12月31日止年度，公司的投資活動所用現金淨額為人民幣4.3百萬元，主要是由於提取按公允價值計入損益的金融資產人民幣75.3百萬元，部分被(i)購買按公允價值計入損益的金融資產人民幣50.0百萬元；及(ii)購買其他無形資產人民幣25.0百 萬 元 所 抵 銷。於 截 至2023年12月31日止年度，公司的投資活動所得現金淨額為人民幣0.5百萬元，主要是由於提取按公允價值計入損益的金融資產人民幣373.5百萬元，部分被(i)購買按公允價值計入損益的金融資產人民幣312.6百萬元；(ii)購買其他無形資產人民幣25.7百萬元；及(iii)收購子公司人民幣24.2百萬元所抵銷。Managem

285、ent Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報41NET CASH FROM FINANCING ACTIVITIESDuring the year ended December 31,2024,the Companys net cash generated from financing activities was RMB672.6 million,which was mainly attributable to(i)proceeds from the issuance of ordinary shares of RMB539.

286、3 million and;(ii)bank borrowings raised of RMB340.0 million,partially offset by the repayment of bank borrowings of RMB183.2 million.During the year ended December 31,2023,the Companys net cash generated from financing activities was RMB293.3 million,which was mainly attributable to(i)proceeds from

287、 the issuance of ordinary shares of RMB210.0 million and;(ii)bank borrowings raised of RMB128.0 million,partially offset by the repayment of bank borrowings of RMB40.0 million.INDEBTEDNESSFor the year ended December 31,2024,the Company had indebtedness in the form of bank borrowings and lease liabil

288、ities(both current and non-current).The Company did not have any outstanding mortgages,charges,debentures,other issued debt capital,bank overdrafts,borrowings,acceptance liabilities,or other similar indebtedness,any material guarantees,litigations,or claims that are pending or threatened against any

289、 member of our Group,or other material contingent liabilities.BANK BORROWINGSAs at December 31,2023 and December 31,2024,the Companys bank borrowings were RMB88.0 million and RMB244.8 million,respectively,which mainly refer to unsecured and unguaranteed bank borrowings for working capital replenishm

290、ent,all of which are repayable within two years.The Companys bank borrowings are all denominated in RMB.For the year ended December 31,2024,the interest rates of the Companys fixed-rate bank borrowings ranged from 2.40%to 3.55%per annum.As of the Latest Practicable Date,the Companys unutilized commi

291、tted banking facilities amounted to approximately RMB744.1 million.LEASE LIABILITIESThe Companys lease liabilities increased from RMB1.6 million as at December 31,2023 to RMB9.3 million as at December 31,2024,mainly due to the simultaneous recognition of lease liabilities for two newly recognized ri

292、ght-of-use assets during the year.融資活動所得現金淨額於截至2024年12月31日止年度，公司的融資活動所得現金淨額為人民幣672.6百萬元，主要是由於(i)發行普通 股 所得款項人民幣539.3百萬元及；(ii)所籌集銀行借款人民幣340.0百萬元，部分被償還銀行借款人民幣183.2百萬元所抵銷。於截至2023年12月31日止年度，公司的融資活動所得現金淨額為人民幣293.3百萬元，主要是由於(i)發行普通股所得款項人民幣210.0百萬元及；(ii)所籌集銀行借款人民幣128.0百萬元，部分被償還銀行借款人民幣40.0百萬元所抵銷。債務於截至2024年12月

293、31日止年度，公司有銀行借款及租賃負債等形式的債務（即期及非即期兩者）。公司並無任何未償還按揭、押記、債權 證、其他已發行 債 務資本、銀行 透支、借款、承兌負債或其他類似債務、本集團任何成員公司未決或面臨威脅的任何重大擔保、訴訟或申索或其他重大或有負債。銀行借款於2023年12月31日及2024年12月31日，公司的銀行借款分別為人 民幣88.0百萬元及人民幣244.8百萬元，指主要用於補充營運資金的無抵押及無擔保銀行借款，均須於兩年內償還。公司的銀行借款均以 人 民 幣 計 值。於 截 至2024年12月31日止年度，公司固定利率銀行借款的利率介乎每年2.40%至3.55%。截至最後實際可

294、行日期，公司的未動用已承諾銀行融資約為人民幣744.1百萬元。租賃負債公司 的 租 賃 負債 由 於2023年12月31日的人民幣1.6百萬元 增加至 於2024年12月31日的人民幣9.3百萬元，主要由於本年新確認兩項使用權資產同時確認租賃負債所致。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report42GEARING RATIOAs of December 31,2024,the Companys gearing ratio based on to

295、tal liabilities/total assets was 52.8%,compared to that of 55.6%for the same period last year.CONTINGENT LIABILITIESAs of December 31,2024,the Company did not have any material contingent liabilities.CAPITAL EXPENDITURESFor the year ending December 31,2024,the Companys capital expenditures were RMB3

296、3.0 million,mainly due to the increase in purchases of fixed assets and intangible assets during the year.The Company primarily funds its capital expenditure needs with borrowings,cash generated from sales,and equity financing.PLEDGE OF ASSETSAs of December 31,2024,the Company did not have any mater

297、ial pledge of assets.MATERIAL INVESTMENTS HELDAs of December 31,2024,the Company did not hold any material investments(including any investment in an investee company with a value of 5%or more of our Groups total assets as of December 31,2024).FUTURE PLANS FOR MATERIAL INVESTMENTS AND CAPITAL ASSETS

298、As of December 31,2024,the Company did not have other plans for material investments and capital assets.MATERIAL ACQUISITIONS AND/OR DISPOSALS OF SUBSIDIARIES AND AFFILIATED COMPANIESFor the year ended December 31,2024,the Company did not have any material acquisitions and/or disposals of subsidiari

299、es and affiliated companies.資本負債比率截至2024年12月31日，以總負債/總資產計算，公司資產負債率為52.8%，去年同期資產負債率為55.6%?；蛴胸搨?至2024年12月31日，公司 並 無 任 何 重大或有負債。資本開支於截至2024年12月31日止年度，公司的資本開支為人民幣33.0百萬元，主要由於本年購買固定資產和無形資產增加所致。公司主要以借款、銷售所得現金及 股權融資撥付資本開支需求。資產抵押截 至2024年12月31日，公司 並 無 任 何 重大資產抵押。所持重大投資截至2024年12月31日，公司並未持有任何重大投資（包括對一家被投資公司作出

300、價值 為 本集 團 於2024年12月31日的 資 產 總值5%或以上的任何投資）。重大投資及資本資產的未來計劃 截 至2024年12月31日，公司 並 無 重 大 投資及資本資產的其他計劃。子公司及聯屬公司的重大收購及或出售 於截至2024年12月31日止年度，公司並無子公司及聯屬公司的重大收購及或出售。Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報43FOREIGN EXCHANGE RISKThe functional currency of the Companys entities is RMB.Durin

301、g the Reporting Period,the Company primarily operated its business in China.The Company does not currently have a foreign exchange hedging policy.However,the Companys management monitors foreign exchange risks and will consider hedging significant foreign exchange risks when necessary.FUTURE OUTLOOK

302、After eight years of deep technological cultivation and industry accumulation,Xunfei Healthcare has grown into the healthcare AI company with the broadest coverage and the largest market share in the PRCs AI healthcare field.The direction of“AI+Healthcare”is already an irresistible trend.In the futu

303、re,Xunfei Healthcare will continue to iterate its products,play a greater role in multiple application scenarios such as improving the quality of diagnosis and treatment,enhancing the effectiveness of chronic disease management,controlling the quality of medical records,and managing patients after d

304、iagnosis,to create an AI medical assistant for every doctor and an AI health partner for everyone.With the advent of the intelligent era,integrating clinical data,clinical guidelines,omics data,and comprehensive knowledge of the medical ecosystem to build a comprehensive medical brain has become a k

305、ey direction for future healthcare development.This process emphasizes human-machine collaboration to maximize the capabilities of machine deep learning,reduce manual workload,ensure data quality,and enable rapid construction of a high-quality medical knowledge base.Within the broader context of gen

306、eral artificial intelligence,the Company will fully leverage the combination of the real economy and financial capital to drive technological breakthroughs and in-depth applications of medical large models,providing residents with better medical services,offering doctors convenient diagnostic and tr

307、eatment tools,generating substantial returns for investors,and ultimately making greater contributions to human health and well-being.外匯風險公司的實體之功能貨幣為人民幣，於報告期內，公司主要在中國經營業務。公司目前並 無外匯對 沖政 策，然而，公司的管理層監控外匯風險，並將於有需要時考慮對沖重大外匯風險。未來展望經過八年的技術深耕和產業積累，訊飛醫療已成長為中國AI醫療領域覆蓋最廣、市場份額最大的醫療人工智能公司。人工智能+醫療 的方向已是大勢所趨，未來訊飛醫

308、療還將持續進行產品迭代，在提升診療質量、提高慢病管理質效、病歷內涵質控、診後患者管理等多個應用場景中發揮更大作用，打造每個醫生的診療助理和每個居民的健康助手。隨著智能時代的到來，整合臨床數據、臨床指南、組學數據及醫療生態圈的全方位知識，構建綜合醫療大腦已成為未來醫療發展的關鍵方向。這一進程強調機器與人的協作，以最大化發揮機器深度學習的能力，減少人工工作量，同時確保數據質量，從而快速構建高質量的醫學知識庫。在通用人工智能的大背景下，公司將充分利用實體經濟與金融資本的結合，推動醫療大模型的技術突破和深度應用，為居民提供更優質的醫療服務，為醫生提供便捷的診療工具，並為投資者帶來豐厚回報，最終為人類健

309、康福祉作出更大貢獻。Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report44展望未來，公司將繼續堅持 頂天立地的創新發展路徑。頂天 意味著在成為中國醫療大模型第一股後，繼續保持全球領先地位，力爭成為全球醫療大模型第一股。立地 則強調解決社會剛需，服務於醫生、患者、醫院及 政府疾控等各方需求。為實現這一目標，公司將堅持產品化導向，通過軟硬體一體化及GBC聯動，打造卓越 產品。公司將繼 續增強醫療人工智能基礎設施和能力建設，加大研發投入，優化解決方案，擴大

310、地 理覆蓋和客戶範圍，抓住新的盈利機遇，探索人工智能在醫療領域的新可能，為全球健康事業貢獻中國智慧和力量。員工、培訓及薪酬政策 截 至2024年12月31日，本 集 團 擁 有911名全 職 員 工（2023年12月31日：852人），其中大部分員工位於中國安徽省合肥市。僱員的薪酬待遇一般包括基本工資和績效獎 金。一般而言，本集團根據僱員的資歷、職位及表現釐定薪酬待遇。Looking ahead,the Company will continue to adhere to the innovative development path of“reaching for the stars whi

311、le staying grounded.”“Reaching for the stars”means maintaining our global leadership position after becoming the first medical large model stock in China and striving to become the first globally.“Staying grounded”emphasizes addressing the essential needs of society and serving the demands of doctor

312、s,patients,hospitals,and government disease control agencies.To achieve this goal,the Company will adhere to a product-oriented approach,creating exceptional products through the integration of software and hardware and GBC collaboration.The Company will continue to strengthen our healthcare AI infr

313、astructure and capacity building,increase R&D investment,optimize solutions,expand geographical coverage and customer reach,seize new profit opportunities,explore new possibilities for AI in healthcare,and contribute Chinese wisdom and strength to global health.EMPLOYEES,TRAINING,AND REMUNERATION PO

314、LICIESAs of December 31,2024,our Group had 911 full-time employees(December 31,2023:852),most of whom are located in Hefei City,Anhui Province,China.The remuneration package of employees generally includes basic salary and performance-based bonus.In general,the Group determines the remuneration pack

315、age based on the qualifications,position and performance of its employees.Management Discussion and Analysis管理層討論與分析 訊飛醫療科技股份有限公司二零二四年年報45公司根據中國法律法規的規定為員工提供保險，包括養老保險、生育保險、失業保險、工傷保險、醫療保險及住房公積金。公司提供彈性工作制，以適應員工的彈性工作需求，並嚴格執行工作時間及假期政策，以提高工作效率及員工滿意度。公司的解僱程序旨在確保公平合法，其中包括明確的績效管理指引、定期反饋會議以及員工可用於質疑決定或尋求澄清的結構化

316、申訴機制。此外，對工作場所中發生的歧視和騷擾行為實行零容忍政策。為支持該政策，所有僱員均須參加有關多元化及包容性的強制性培訓課程、定期檢討工作場所慣例，以及就任何歧視或騷擾事件設立保密報告制度。公司亦定期組織健康及安全培訓計劃，以提高僱員的急救知識及技能。截至2024年12月31日止年度，員工薪酬福利開支總額為人民幣276.3百萬元。本集團已採納一項持股計劃，以吸引及挽留人才，並向本集團員工以及 對本集團的發展作出貢獻的人才提供激勵，以促進本公司的長期發展。持股計劃詳情載於招股章程。董事及高級管理層的薪酬由薪酬委員會提出建議及由董事會批準。在釐定董事及高級管理人員的薪酬時，會考慮董事會所訂企業

317、方針及目標，同類公司支付的薪酬、董事付出的時間及職責以及本集團內其他職位的僱傭條件等。有關酬金的詳情，請參閱合併財務報表附註12。期後事項於報告期後及截至最後實際可行日期，並無其他可能對本集團造成影響的重大事件。The Company provides employees with an insurance package consisting of pension insurance,maternity insurance,unemployment insurance,work-related injury insurance,medical insurance and housing fu

318、nds,as required by Chinese laws and regulations.The Company offers a flexible work system to accommodate employees flexible work needs and strictly enforce work hours and vacation policies to enhance work efficiency and employee satisfaction.The Companys dismissal procedures are structured to ensure

319、 fairness and legality.They include clear guidelines on performance management,regular feedback sessions,and a structured grievance redressal mechanism that employees can use to contest decisions or seek clarification.In addition,the Company maintains a zero-tolerance policy towards discrimination a

320、nd harassment in the workplace.This policy is supported by mandatory training sessions on diversity and inclusion for all employees,regular reviews of workplace practices,and a confidential reporting system for any incidents of discrimination or harassment.The Company also regularly organizes health

321、 and safety training programs to improve employees first aid knowledge and skills.For the year ended December 31,2024,our total employee compensation and benefits expenses were RMB276.3 million.The Group has adopted a share ownership plan to attract and retain the talents and to provide incentives t

322、o employees of our Group and talents who have made contribution to the development of our Group,for long-term development of our Company.Details of the share ownership plan are set out in the Prospectus.The remuneration of the Directors and senior management is recommended by the Remuneration Commit

323、tee and approved by the Board.The corporate goals and objectives set by the Board,the remuneration paid by comparable companies,the time and responsibilities committed by the Directors,and the employment conditions of other positions within the Group are taken into consideration in determining the r

324、emuneration of the Directors and senior management.For details of remuneration,please refer to note 12 to the consolidated financial statements.SUBSEQUENT EVENTSThere were no other material events subsequent to the Reporting Period and up to the Latest Practicable Date that would likely have a signi

325、ficant impact on the Group.Management Discussion and Analysis管理層討論與分析 Xunfei Healthcare Technology Co.,Ltd.2024 Annual Report46DIRECTORSEXECUTIVE DIRECTORDr.Tao Xiaodong(陶曉東),aged 51,joined our Group in December 2016 and has since then served as the General Manager of our Company.Dr.Tao was appointe

326、d as a Director in December 2021 and was further appointed as an executive Director in January 2024.Since May 2019,Dr.Tao has also served as a director of Anhui Imaging Union,one of our subsidiaries.Dr.Tao has over 19 years of experience in healthcare,AI technology and management.Prior to joining ou

327、r Group,Dr.Tao consecutively served as a computer scientist at the Global Research Center and a China research manager at GE Healthcare China of General Electric Company(a company listed on the New York Stock Exchange under the stock code of GE)from February 2005 to May 2013.From June 2013 to Decemb

328、er 2016,Dr.Tao consecutively served as the principal scientist at Philips Research China and chief solutions architect at Philips Healthcare Radiology Solutions of Koninklijke Philips Electronics N.V.(a company listed on the New York Stock Exchange under the stock code of PHG).Dr.Tao holds positions

329、 in various healthcare and AI-related associations including serving as a senior member of the Institute of Electrical and Electronics Engineers since May 2014,a member of Chinese Innovative Alliance of Industry,Education,Research and Application of Artificial Intelligence for Medical Imaging(中國醫學影像

330、AI產學研用創新聯盟)since 2018,a member of China Association of Medical Equipment Management Branch(中國醫學裝備協會管理分會)since 2018,a member of the Medical Artificial Intelligence Branch of the Chinese Society of Biomedical Engineering(中國生物醫學工程學會醫學人工智能分會)since January 2020,a member of Beijing Medical Association Hea

331、lth Management Branch(北京醫學會健康管理學分會)since 2019 and a member of the second session of Intelligent Medicine Professional Committee of Chinese Medical Doctor Association(中國醫師協會智慧醫療專業委員會)since June 2023.Dr.Tao has been appointed as an adjunct professor in biomedical engineering of University of Science a

332、nd Technology of China(中國科學技術大學)since April 2021.董事執行董事陶曉東博士，51歲，於2016年12月加入本集團，自此擔 任本公司總 經理。陶博士於2021年12月獲 委 任 為 董 事，並 於2024年1月進一步獲委任為執行董事。自2019年5月起，陶博士亦擔任我們的子公司之一安徽影聯的董事。陶博士於醫療保健、人工智能技術和管理方面擁有逾19年經驗。加入本集團之前，陶博士於2005年2月至2013年5月先後擔任通用電氣公司（紐約證券交易所上市公司，股票代碼：GE）全球研究中心的計算機科學家以及GE醫療中國(GE Healthcare China)

333、中國研究部經理。2013年6月至2016年12月，陶 博士先 後 擔 任 Koninklijke Philips Electronics N.V.（紐約證券交易所上市公司，股票代碼：PHG）的Philips Research China首席科學家，以及Philips Healthcare Radiology Solutions首席解決方案架構師。陶博士在多個醫療保健及人工智能相關協會擔任多個職位，包括自2014年5月起擔任電氣和電子工程師協會高級會員、自2018年起擔任中國醫學影像AI產學研用創新聯盟 成員、自2018年起擔 任中國醫學裝備協會管理分會會員、自2020年1月起擔任中國生物醫學工程學會醫學人工智能分會 會員、自2019年起擔 任北京醫學會健康管理學分會會員及自2023年6月起擔任中國醫師協會智慧醫療專業委員會第二屆委員。陶博士自2021年4月起被委任為中國科學技術大學生物醫學