德适-B（02526）今日盘中大涨9.34%，引起了市场的广泛关注。
消息面上，公司近日披露了2025年业绩报告，显示全年总收入达1.64亿元，同比激增133.7%；毛利1.18亿元，同比大增157%。尤为亮眼的是，技术许可业务收入从上年同期的1954万元飙升至8434万元，同比暴增331.7%，首次占据总营收的半壁江山，跃升为第一大收入来源。该业务的毛利率接近87.3%，几乎触及模型服务行业的理论天花板。
分析指出，技术许可收入的暴增验证了AI医疗大模型商业闭环的可行性，公司以iMedImage®基座模型构筑全球AI医疗基础设施的战略获得市场认可，并获得了腾讯等头部机构的背书，进一步巩固了其在政策性刚需赛道的领先地位。
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