Within the healthcare industry, the fundamental process of "consultation-examination-treatment" has never changed. However, a significant evolution in the "delivery method" is currently underway. On April 28, RIMAG GROUP (02522) officially announced at its Strategy Upgrade and Digital Intelligence Imaging⁺ 2.0 launch event that the company will comprehensively transition from being a "medical imaging service provider" to becoming the "global leader in the largest Digital Intelligence Imaging⁺ ecosystem."
This strategic upgrade is underpinned by a fundamental value reconstruction based on the logic of "Scenario + Data + AI." It encompasses an expansion from "imaging" to "imaging⁺," a technological evolution from "single-disease identification in the AI 1.0 era" to "foundation model-driven Artificial General Intelligence (AGI) in the AI 3.0 era," and a geographical leap from "domestic focus" to "global replication."
With 117 physical centers, RIMAG GROUP is translating its closed-loop advantage in "Scenario-Data-AI" into a killer application like the "Cranial CT Super Intelligence Agent." By collaborating with Tencent, academic institutions, and top-tier hospitals to build a full-stack AI ecosystem, the company has effectively completed a transformation in its role towards industry empowerment. Positioned at the forefront of the national "AI + Healthcare" strategy, RIMAG GROUP is rewriting the delivery logic of medical services. Consequently, its valuation anchor is shifting from that of a traditional medical service institution to a "leader in new medical infrastructure" with far greater potential.
The leap from imaging services to digital intelligence new infrastructure is supported by both technological pathways and an asset base. When RIMAG GROUP significantly and continuously increased investment in its AI subsidiary, proactively developed its "imaging⁺" business, and even took the lead in listing its data resources on the Beijing-Shanghai Data Exchange to explore market-based pricing paths for data services and data elements within trusted data spaces, the underlying framework of its strategic elevation became clear.
These actions are not isolated moves but part of a systematic layout for transitioning from imaging services to digital intelligence new infrastructure. This is supported by the construction of a full-chain, closed-loop ecosystem encompassing "examination-diagnosis-management-data," where the three core elements—Scenario, Data, and AI—are nested together, driving a continuous positive feedback loop.
From a scenario perspective, coverage density is building network value that is difficult to replicate. By the end of 2025, RIMAG GROUP had established 117 medical imaging centers across 20 provinces, autonomous regions, and municipalities in China. This forms a comprehensive layout covering city-county-township areas and includes both online internet hospitals and offline physical stores. This high-density scenario network not only extends medical services to a broader range of end-users but also creates a network effect that is hard for single-track players to match, providing fertile ground for data accumulation and AI implementation.
In terms of data, an industry-level barrier is becoming a core driver. Medical imaging data, characterized by its high dimensionality and strong structure, has always been the scarcest raw material for training medical AI. Leveraging the continuous operation of its hundred-plus center network, RIMAG GROUP has accumulated one of the largest medical imaging databases in China. This data possesses multi-modal attributes covering all equipment models and body parts, providing high-quality "fuel" for the precise iteration of AI models.
On the AI front, the technological positioning is upgrading from an auxiliary tool to a cognitive-level production facility. RIMAG GROUP was among the first to define a three-era evolution framework for medical imaging AI: single-disease identification in the 1.0 era, data-driven multi-disease coverage in the 2.0 era, and foundation model-driven AGI in the 3.0 era. Currently, the company's technological progress is fully engaged in building and implementing the 3.0 paradigm. The recently launched Cranial CT Super Intelligence Agent is a killer application built on this 3.0 paradigm—it covers 90% of brain lesion types, achieves a diagnostic accuracy of nearly 90%, and reduces report generation time from the traditional 15 minutes to just 1 minute. It has already achieved commercial deployment and allows for rapid iterative development of new products.
In its R&D mechanism, the company has established an industry-academia-research collaboration paradigm of "co-building databases – co-building foundation models – co-building downstream tasks." In collaboration with Beijing Tiantan Hospital, Capital Medical University, it released systematic R&D achievements in cranial medical imaging AI at the 2025 China International Fair for Trade in Services, marking the company's successful large-scale validation of integrating medicine and engineering in high-end clinical AI.
Therefore, the positive feedback loop created by "Scenario + Data + AI" is clear: more scenarios lead to higher-quality data accumulation; more data accelerates the iteration of AI models and products; and stronger AI capabilities, in turn, enhance service quality and user loyalty within scenarios, driving further scenario expansion. This self-reinforcing cycle is the fundamental differentiator between RIMAG GROUP and ordinary imaging center operators and serves as the core support for its leap from a service provider to a leader in digital intelligence new infrastructure.
If the closed-loop ecosystem of "Scenario + Data + AI" is RIMAG GROUP's "structural moat," then its continuous expansion across three dimensions—geographical footprint, service scope, and delivery forms—outlines a clear growth path for its platform-based ecological entity. This is not linear growth in a single track but a multidimensional strengthening of width, depth, and height.
In geographical expansion, RIMAG GROUP's global footsteps are becoming more solid and strategically determined. Its overseas expansion logic is not a blind casting of nets but a geographical replication of business models proven successful domestically. By signing a strategic cooperation agreement with leading equipment manufacturer United Imaging to jointly enter overseas markets, the company has established an "equipment + service" entry model, precisely targeting overseas medical markets. Against the macro-background of national encouragement for medical service exports, this highly replicable model opens up a highly promising second growth curve for the company.
In service deepening, the company has completed a strategic leap from singular "imaging" to comprehensive "imaging⁺." Centered on medical imaging, RIMAG GROUP has extended its service reach into comprehensive diagnostics, aiming to upgrade its role in the clinical pathway from an "auxiliary tool" to a "core dependency." This fusion of cross-modal data not only broadens business boundaries but also enhances the training dimensions and clinical relevance accuracy of AI models. Concurrently, the "Digital Doctor Doctor Buddy" solution, co-created with Tencent, leverages an "AI Super Factory" production paradigm to package this integrated capability into a scalable new paradigm for intelligent imaging services, enabling standardized output and batch manufacturing of AI models and building a next-generation imaging AI creation engine.
Regarding delivery forms, a revolution from fixed centers to "ubiquitous" access is occurring, representing the most disruptive variable. Mobile inspection vehicles proactively extend testing capabilities to patients, a "Didi-style加盟" flexible network enables dynamic scheduling of equipment and doctors, and the integration of health management scenarios shifts examination behavior from "passive response" to "active intervention." The叠加 of these three expansions collectively builds a clear strategic growth ladder.
More critically, RIMAG GROUP's value boundary lies in its ability to empower other medical institutions to complete their digital-intelligent transformation. In terms of capability output, the company packages its years of accumulated operational systems, IT platforms, and AI tools into "plug-and-play" products, allowing primary hospitals to elevate their diagnostic standards through "turnkey" projects without building from scratch. In government cooperation, by actively participating in regional medical data platform construction and generating revenue through data services within trusted regional data spaces, the company's strategic role has elevated from a mere "commercial service entity" to a "participant in public medical data infrastructure." This dual-track empowerment strategy creates a positive resonance between commercial and social value: the deeper the involvement in public health system building, the stronger the data assets and brand endorsement; and the stronger these assets and endorsements, the faster the commercial ecosystem expands.
RIMAG GROUP's strategic layout is highly aligned with national policy directions. This alignment is a proactive strategic positioning. Under the framework of the national "AI + Healthcare" action plan, the core goal is to use AI technology to enhance the efficiency and equity of medical services, with a focus on addressing the "capability gap" in primary care. RIMAG GROUP's AI products—especially the "Cranial CT Super Intelligence Agent"—are the most direct commercial vehicles for this policy objective. Through AI tool empowerment, primary care radiologists can achieve diagnostic standards接近 or even surpassing those of top-tier hospitals, truly realizing the "technical下沉" of high-quality medical resources.
Although the tiered healthcare system has been promoted for years, insufficient diagnostic capabilities at the primary level remain the biggest systemic obstacle. RIMAG GROUP is systematically bridging this gap through a combination of telemedicine, mobile inspections, Didi-style services, and capability output. This represents not only a vast blue ocean market but also a demand driven by policy imperatives.
Simultaneously, against the macro-backdrop of medical data elementization and the "going global" of digital healthcare, RIMAG GROUP's initiatives—such as listing data resources on an exchange, participating in Beijing's data pilot zone for data services, and launching projects in countries like Malawi—precisely align with the core tracks encouraged by national strategy. For a company, sustained resonance with national strategic intent often implies lower policy resistance, richer resource support, and a longer dividend cycle. From this perspective, RIMAG GROUP's "new infrastructure" positioning is the core logic of its strategic foothold.
In summary, the transition from a single imaging center to a vast network of 117 centers nationwide; from manual film reading to the AGI era of the "Cranial CT Super Intelligence Agent generating reports in 1 minute"; from comprehensive domestic coverage to global replication; from providing单体 services to empowering regional medical platforms as an ecological entity—each dimensional leap is transforming the "new infrastructure" vision into tangible assets and verifiable business reality.
The core message RIMAG GROUP conveys to the market is clear: "We are building a foundational capability system that is difficult for others to replicate." This capability is releasing growth momentum simultaneously across the three dimensions of scenario density, data depth, and AI precision, at a compound rate. The "delivery method" of medical services is being rewritten, and RIMAG GROUP is leading this wave of paradigm reconstruction.
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