锦欣生殖2025中期报告

Jinxin Fertility Group Limited*Jinxin Fertility Group Limited* 01951 20252025 24672642434547495179 ARSARS ARS 2021IVF202222025VIPARS 202220234ARSARS HRC Medical2024HRCMedical5HRCMedical1220247HRC MedicalBeverly Hills202412 2021720228 3120247 20242025 John G. Wilcox2025827 John G. Wilcox2025827 2025925John G. Wilcox20258272025925 202532820259252025925 John G. Wilcox2025827 20259252025925 20259252025925 Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand CaymanKY1-1205Cayman Islands •8835 301 1191907B 1951 www.jxr-fertility.com Vistra (Cayman) LimitedP.O. Box 31119 Grand PavilionHibiscus Way, 802 West Bay Road,Grand CaymanKY1-1205Cayman Islands 183171712–1716 826 202522820242024(i)20241,408.32023139(ii)20249542023526.77‰(iii)20241,0937.76‰(iv)2024-0.99‰2021 2021732023959.6316.51500320247 2022820253312024 20241041320241127202412112025 2025 202537 202531310,00050,000100,000 20257202511332025113 ——IOTMSAIOT/MSA (1)IOT/MSAIOT/MSA2025630252.72024630287.4 (2) 20246307,5716.1%20256307,111IUIIUI20246302272025630969IUIOPU 20241,5002024IVF7020||IVF+MDTVIP2025630VIP20.8% 20246303,02216.0%20256302,539IUIIUI20246302232025630894IUIOPU IVFVIP IUIIUI20%IVF 20246302,1333.5%20256302,0592025630 IVFIVFEmbryo GlueAI78.5% PRPIVFIVF145% HRC Medical202520246302,2588.9%20256302,058—(SB729)— HRCMedical 372Denovo20257HRCMedical202530HRCMedical 202520259HRC Medical 2025HRCMedicalHRC Medical HRC Medical20252021(USC)HRC MedicalUSC IVF/ICSIIVF/ICSI80%3,000IVF/ICSI20%2027402.8PT Morula IndonesiaMorula40%ARS 50%80% IPIP (i)(in vitro activation,IVA)(Platelet-Rich Plasma, PRP)(ii)(iii)(iv)(v) (AI)CD138+ 2025 20253312024 0 IVF HRC Medical15%SB7292026120203-53 HRCMedical372025 20247Jinxin Life Asia Healthcare Investment Group Pte.Ltd.Morula30%MorulaIT IVF2025 (i)(ii) 202220222172024625(i)(ii)(iii)20222024531 HRC ManagementHRC ManagementIVF3IVFHRC Medical (ESG) ESGESGESG2025 20246301,443.810.7%20256301,288.6(i) ARS87.3(ii)34.7(iii)17.4(iv)3.6(v)19.3(a) OPU8.3%ARSIUIIVF80%85%10.04%7%8%ARS(b)24%(c) 2024630860.74.2%2025630897.221.1HRC Medical4 2024630583.032.9%2025630391.4202463040.4%202563030.4% 202463026.551.7%202563012.813.0 0.68,650%52.550 20256307.820246303.8 202463010.917.4%20256309.0 202463086.314.5%202563073.8 2024630215.71.5%2025630219.0 202463028.551.2%202563043.1202563049.8202463067.4 202463075.4202563044.489.845.439.8% 20251,044.12024190.3(i)(ii)(iii)IOT(iv)(i)IUIIVF(ii)(iii)2025 EBITDAEBITDA 2024630259.668.3%202582.3 EBITDA2024630418.146.3%2025224.7 20252024630 EBITDA (3)HRCMedical729(SB729)IVFIVF (4)(i)(ii)(iii) (5)IOT (6) 2024123150.99.2%202563046.2 20241231322.36.4%2025630301.6 20241231737.81.7%2025630750.6 201962,808.1202121,253.52021300202232023156.725175,000,0001,162.31999.0 202311620251,695.5202563050,0005,000,000,000202563033.9%66.1%2024123130.8%69.2% 2025630 20256302,367.6202412312,270.1 2025630 2025630 2025630 100%202563016.9%2024123115.1% 20256303,3653,0373282025630396.72024630371.5 202220222172024625202220245312024630 20256302024630 C1 2025630 C32025630 202563013,000,000 2025630 2025630• Hang Sang (Siu Po) International Holding Company Limited36262025613 13.51B(1) 2,808.12025630 2025630 (1)(i) 20.0%561.6(a)(b)(c)(ii)5.0%140.4 (2)(3)(4)(i)Jinxin Hospital Management Group LimitedIVF(ii)Jinxin Medical Management (BVI) Group Limited(5)(i)(ii)(iii) 202122MorganStanley&Co.International plc80,000,00015.85 2021291,253.52021222021292025630 202315JINXIN Fertility Investment Group Limited(i)6.725175,000,000(ii)175,000,000 20231920231161,162.3120231520231162025630 (1) 2025630XVXV78352 (1)20256302,757,706,043 (2)(i)6,500,000(ii)20226,623,611(3)John G. Wilcox20224,000,000(4)(i)6,678,500(ii)20223,419,318(5)(i)6,558,000(ii)20225,419,318(6)2022600,000 (1)51%2022(2)51% 2025630XVXV78352 18 2025630XV23336 (1)Jinxin Fertility BVI10%2025630 (2)20256302,757,706,043 2025630XV23336 2019215 (1) (i)(ii)(iii) (2) (3) 32,981,3881.66%1.20% (4) (5) 15 (6) (7) 2025630 2025112025630 (1) (2) (3)0.07% 2022 20222022217202220246252022202220222022 (1)2022 2022(i)2022(ii)(iii) (2)2022 202220222024531 (3) 202275,227,5143%20222.74%2022202220228,273,118202220220.3%(i)20229,374,2730.34%(ii)20228,273,1180.3% (4) 2022 (5)2022 (6) 2022 (7)2022 2022202220256302022 202511202563020229,374,273202511202563020228,273,118 2022 (2) (3)20222022 2022 (1) (2) (3)2025630202220223,000,000 43782025630343434 2410 34 2025825 20256 30 20256 30 20256 30 (a)10%50% (b)20246302022225,000,00012,644,000 20256 30 20256 30 1. 201853221961320182019625 (i)(ii)(iii)(iv)(v) 34 2025630147,853,000750,552,000464,009,000 2025630491,538,0002025630350,000,0002025630 1. 2025630 2. 202563020241231 202511 21 3. 20252024630 3. 202520246308 3. 20256309,042,821,0003,477,275,000202412319,070,095,0004,362,767,000202563020241231 10% Huntington Reproductive Center Medical GroupHRC