
202512 31 202512 31202516.5%932.82024801.0 ²39.8%549.758.9%202449.1% 32.5%35.1% ²52.8%108.4202470.911.6%20248.9% 2026 ²2.620241.72.420241.620255.020243.3 202512 31202412 31 202512 31 202512 31 202512 31 1,171,496919,685 341,863315,717 202512 31 1. 201511 19Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, the CaymanIslands22216 1604-07A Vincent Raya International Limited 2. 622 3 3. (a) 211 (b) 202512 3120251231 97 97 ••(SPPI)•• 18 1811818 ••(MPMs)• 18 ••18• 1028 1028 4. OEM 202512 31OEM 3051,476 6. OEMOBM •OEM•O B MinspiredTM 451,020306,795 OEMA 28.25%16.5%16.5% 20081 125%15%15%25% 9. 131,892,0002024120,200,00014,917,000202412,812,0008,047,00020248,760,000 10. 20241.7202420231.520252.4202420241.6 20241.711,107,00020256 20202112 2170,000 20252.415,751,00020259 26202112 2240,000 202512 312.620265 20 11. 2025202412 31 12. 3090 0303160619090 13. 030316060 14. 0.01 20241 120241231202511202512 31 202512 310.805,713,5004,571,000 202512 31 (AIoT) 2.620241.72.420241.620255.020243.3 OEM 393.3549.739.8%58.9%202449.1%34.8%202431.6% 243.22024245.526.1%202430.6%39.3%202438.1% 4.3%107.12024111.9202511.5%202414.0% 50.232.83.5%20246.3%28.7%202431.7% 20252026 932.82024801.016.5% 43.6%39.5%202432.0%32.0%202436.5%0.5%75.58.1%20249.4% 25.9%327.42024260.032.5%35.1% 0.320241.5 9.5%43.0202439.24.6%20244.9% 5.0%106.32024112.011.4%202414.0% 48.7202430.65.2%20243.8% 21.320247.1 104.4202469.2 121.02024142.420251231323.72024220.5 202512 3175.82024118.8 202512 3161.6202449.831.0202419.5 202512 31154.72024162.7 202512 31194.82024169.3 202512 3135.9202431.6 202512 31113.8202475.0 202512 3160.7202441.6 202512 31230.72024170.6 20251231250.92024173.42.020242.2 202512 31146.4202480.2 202512 31478.42024487.0 202512 311,46820241,328 240.12024214.425.7%202426.8% 202512 316.620246.5659,049,8322024653,336,3320.0120166 17201662420245 22 202512 31 214.02024132.730.7202430.4202512 31 202512 31 20265 20 20266 12.620241.720259 262.420241.65.020243.320266 18 (1)20265 2020265 1520265 2020265 14430 (2)20266 120265 2820266 120265 27430 (3)1617 C1 B.2.4(b)B.2.4(b) C3 202512 312025 202512 31 202512 31 ( w w w . h k e x n e w s . h k )(www.vincentmedical.com) 2025 2026325