万东医疗公布2025年度日常关联交易执行情况及2026年度关联交易预计

关键要点速览

• 2025年度日常关联交易实际发生金额为13,533万元，低于此前预计的14,650万元。
• 2026年度日常关联交易预计总金额为4,500万元，环比大幅下降，或反映公司业务结构与关联交易模式变化。
• 主要关联方包括美的集团（控股股东）、杭州万东电子有限公司（参股公司、高管担任董事）及百胜医疗集团。
• 公司强调未对主要业务形成依赖，且所有交易均遵循市场公允价格，独立决策，符合股东利益。
• 日常关联交易无需提交股东大会审议，已由独立董事及董事会审查通过，相关董事回避表决。

详细内容解读

一、日常关联交易基本情况

2026年3月24日，北京万东医疗科技股份有限公司召开第十届董事会第十四次会议，审议并通过了《关于2025年度日常关联交易执行情况及预计2026年度日常关联交易的议案》。公司相关的关联董事回避表决，其他董事均投赞成票。公司在审议前，经营层已向独立董事提供了详尽材料，并经独立董事会议一致同意后，提交董事会表决。公司表示，本次关联交易符合自愿、等价、有偿的原则，价格合理、过程规范，未对公司独立性构成影响，也未导致对关联方的依赖。

二、2025年度关联交易执行情况详解

2025年，部分关联交易实际发生金额低于预计，尤其是向百胜医疗销售产品及提供服务（实际7,990万元，低于预计10,000万元）；而向杭州万东电子购买原材料实际发生金额为1,108万元，超过预计550万元，反映公司实际业务需求增加。

三、2026年度关联交易预计金额及结构

2026年预计日常关联交易金额4,500万元，主要涉及美的集团及杭州万东电子。值得注意的是，整体交易金额较2025年大幅下降，投资者需关注公司业务结构调整或策略变化是否会对主营收入与利润产生影响。

四、主要关联方介绍及关联关系说明

• 美的集团股份有限公司：为公司控股股东，注册资本76.76亿元，2024年末总资产6,043亿元，净资产2,167亿元，营业收入4,071亿元，净利润385亿元。公司具备良好资信和履约能力。
• 杭州万东电子有限公司：万东医疗参股公司，公司高管担任董事。2025年末总资产7,312万元，净资产5,087万元，营业收入6,273万元，净利润505万元。同样具备良好履约能力。
• 百胜医疗集团：关联交易主要为购买原材料和服务。

五、定价政策及交易目的

所有关联交易均遵循市场公允价格，公平、公正、等价原则协商定价，不损害公司及全体股东利益。关联交易主要为保障正常生产经营，资源互补，提升盈利能力，且公司决策完全独立，不受控于关联方，主营业务及利润来源未对关联方形成依赖。

六、对投资者的影响及潜在价格敏感事项

• 2026年度关联交易预计大幅下降，可能反映公司业务转型、订单结构调整或外部市场变化，需持续关注。
• 公司强调独立经营能力，未对关联方形成依赖，交易过程规范透明，降低潜在治理风险，有利股东利益保护。
• 未有重大依赖性或价格异常变动，短期对公司经营无重大不利影响。

结论

总体来看，万东医疗2026年度日常关联交易预计金额较2025年大幅下降，关联交易结构发生变化。投资者需持续关注公司业务调整及其对财务表现的影响。公司在关联交易管理、决策独立性及交易公允性方面均有明确制度和执行，整体风险可控，但若未来关联交易金额进一步变动或结构调整，可能对公司估值及市场表现产生影响。

免责声明：本新闻稿基于公司公告公开信息整理，仅供投资者参考，不构成任何投资建议。投资有风险，决策须谨慎。

English Version

Wandong Medical Discloses 2025 Related Party Transactions and 2026 Forecast: Investor Highlights

Key Points Overview

• 2025 actual related party transaction amount reached RMB 135.33 million, lower than the previously estimated RMB 146.5 million.
• 2026 estimated related party transaction amount is RMB 45 million, a significant decrease, possibly indicating changes in business structure or model.
• Major related parties include Midea Group (controlling shareholder), Hangzhou Wandong Electronics (associate, with company executives as directors), and Baisheng Medical Group.
• The company emphasizes no significant reliance on related parties; all transactions follow market fair pricing and independent decision-making.
• These transactions do not require shareholder meeting approval, have been reviewed and passed by independent directors and the board, with related directors abstaining.

In-depth Details

1. Basic Situation of Daily Related Party Transactions

On March 24, 2026, Beijing Wandong Medical Technology Co., Ltd. held its 14th meeting of the 10th Board of Directors and approved the “2025 Related Party Transactions Execution and 2026 Forecast” proposal. Related directors abstained, and all other directors voted in favor. Prior to the board meeting, management provided sufficient materials to independent directors, who unanimously agreed to submit to the board. The company states these transactions comply with voluntary, equivalent, and paid principles, are reasonably priced, and do not affect company independence or create dependence on related parties.

2. Details of 2025 Related Party Transactions Execution

In 2025, actual transaction volumes with some parties were lower than estimated, especially product sales and services to Baisheng Medical. Purchases from Hangzhou Wandong Electronics exceeded expectations due to increased business demand.

3. 2026 Related Party Transaction Forecast & Structure

The 2026 forecast of RMB 45 million in related party transactions is a sharp drop from 2025. This may reflect adjustments in business strategy or structure, and investors should monitor the impact on overall revenue and profits.

4. Major Related Parties & Relationships

• Midea Group Co., Ltd.: Controlling shareholder, with RMB 76.76 billion registered capital, RMB 604.4 billion in total assets, RMB 216.8 billion in net assets, RMB 407.1 billion in revenue and RMB 38.5 billion in net profit (2024). Good credit and performance capacity.
• Hangzhou Wandong Electronics: Associate company, Wandong Medical executives serve as directors. 2025 assets RMB 73.1 million, net assets RMB 50.9 million, revenue RMB 62.7 million, profit RMB 5.05 million.
• Baisheng Medical Group: Mainly engaged in raw material/service supply transactions.

5. Pricing Policies & Transaction Purpose

All related transactions are negotiated at market fair prices under fair and equal principles, protecting all shareholders. Transactions are for normal business needs, resource sharing and profit enhancement, with independent decision-making and no dependency on related parties.

6. Potential Price Sensitive Matters & Investor Focus

• The sharp drop in 2026 forecasted related party transactions may signal business transformation, order structure adjustment, or market changes—investors should watch for potential impact on financials.
• Company stresses independence, reducing governance risk and protecting shareholder interests.
• No evidence of material dependency or abnormal pricing; short-term business impact is limited.

Conclusion

Wandong Medical expects a significant reduction in 2026 related party transactions versus 2025, indicating possible business adjustment. The company maintains strict transaction management and independence. Investors should monitor if business structure changes further impact valuation or market performance.

Disclaimer: This news article is based on the company’s disclosed information and for reference only. It does not constitute investment advice. Investment involves risks; please make decisions prudently.

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