香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或因倚賴該等內容 而引致之任何損失承擔任何責任。 承董事會命 以下所載為上海微創心脈醫療科技（集團）股份有限公司（「心脈醫療科技」）截至二零二五年六月三十日 止六個月的未經審核財務資料。本集團持有心脈醫療科技40.32%的股權，其業績綜合入賬至本公司 財務報表。心脈醫療科技的股份在上海證券交易所科創板上市。 | | 截至二零二五年 | 截至二零二四年 | | | --- | --- | --- | --- | | | 六月三十日止 | 六月三十日止 | | | | 六個月 | 六個月 | 變動 | | | 人民幣千元 | 人民幣千元 | 百分比 | | 收入 | 714,429.78 | 787,174.66 | -9.24 | | 利潤總額 | 366,935.69 | 471,155.24 | -22.12 | | 歸屬於心脈醫療科技股權持有人的淨利潤 | 314,647.22 | 403,523.61 | -22.03 | | | 截至二零二五年 ...

Investment Rating - The report does not explicitly state an investment rating for the laparoscopic surgical robot industry Core Insights - The laparoscopic surgical robot industry is characterized by high technological barriers, long R&D cycles, and strict regulatory oversight, with significant growth driven by domestic breakthroughs and reduced procurement costs. The competitive landscape is expected to evolve towards a "duopoly + niche specialization" model in the long term [4][41][42] Industry Overview - Laparoscopic surgical robots combine endoscopic technology with robotic systems, primarily used in urology, gynecology, and general surgery, offering advantages such as minimal invasiveness and rapid recovery [4][5] - The industry is classified into two main categories based on surgical techniques: multi-port and single-port laparoscopic surgical robots [5] Industry Characteristics - The industry features long R&D cycles and strict regulatory requirements, with the registration process for high-risk medical devices typically taking over five years [6][7] - High levels of industry collaboration are evident, with the integration of precision manufacturing, sensor control, image recognition, and biomaterials [8] - The technological complexity and high patent protection create significant barriers to entry, with a focus on multi-disciplinary collaboration and sustained capital investment [9] Development History - The industry has evolved through three stages: the embryonic phase (1985-2000), the initiation phase (2000-2021), and the rapid development phase (2021-present), with significant advancements in technology and market acceptance [10][11][12][13][15] Market Size and Growth - The market size for laparoscopic surgical robots in China was approximately 3.12 billion RMB in 2022, projected to reach 9.84 billion RMB by 2026, with a CAGR of 33.3% [37][38] - The growth is attributed to domestic production breakthroughs that significantly lower procurement costs, leading to increased hospital purchases [38][39] Competitive Landscape - The market is witnessing an influx of domestic companies, with over 10 models approved for market entry by the end of 2024, leading to intensified competition and potential market consolidation [41] - A high-end competitive landscape is emerging, with established players like Intuitive Surgical's da Vinci system dominating the market, while domestic brands like MicroPort's TiMai are gaining traction [42] Supply Chain Analysis - The supply chain consists of upstream component suppliers, midstream manufacturers, and downstream clinical applications, with the performance of upstream components directly impacting the overall system capabilities [16][17] - The midstream segment is critical, with leading manufacturers focusing on system integration and production, while the downstream segment involves hospital procurement and clinical application [19][30] Conclusion - The laparoscopic surgical robot industry is poised for rapid growth, driven by technological advancements, regulatory support, and increasing acceptance among healthcare providers, with a clear trend towards domestic innovation and market diversification [40][41]

Group 1 - The top three companies with the highest short positions as of August 15 are WuXi AppTec (02359), CATL (03750), and COSCO Shipping Holdings (01919), with short ratios of 14.92%, 14.41%, and 13.40% respectively [1][2] - The companies with the largest absolute increase in short positions are Heng Rui Medicine (01276), Yao Cai Securities (01428), and Modern Animal Husbandry (01117), with increases of 2.49%, 1.34%, and 1.31% respectively [1][2] - The companies with the largest absolute decrease in short positions are Ganfeng Lithium (01772), WuXi AppTec (02359), and Fourth Paradigm (06682), with decreases of -2.98%, -2.67%, and -2.28% respectively [1][2] Group 2 - The top ten companies with the highest short ratios include Ping An Insurance (02318) at 12.46%, Green Leaf Pharmaceutical (02186) at 12.36%, and Vanke Enterprises (02202) at 12.13% [2] - The companies with the most significant increases in short ratios include Heng Rui Medicine (01276) from 0.51% to 2.99%, Yao Cai Securities (01428) from 3.47% to 4.81%, and Modern Animal Husbandry (01117) from 4.74% to 6.05% [2] - The companies with the most significant decreases in short ratios include Ganfeng Lithium (01772) from 13.32% to 10.34%, WuXi AppTec (02359) from 17.59% to 14.92%, and Fourth Paradigm (06682) from 2.74% to 0.46% [2][3]

格隆汇8月19日丨微创医疗(00853.HK)公告，谨定于2025年8月29日(星期五)举行董事会会议，藉以(其中 包括)考虑及通过集团截至2025年6月30日止6个月的中期业绩，以及处理其他事项。 ...

微創醫療科學有限公司* （於開曼群島註冊成立的有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內 容而引致的任何損失承擔任何責任。 （股份代號：00853） 董事會會議召開日期 微創醫療科學有限公司（「本公司」及其附屬公司「本集團」）董事會（「董事會」）茲通告謹定於二零二五年 八月二十九日（星期五）舉行董事會會議，藉以（其中包括）考慮及通過本集團截至二零二五年六月三十 日止六個月的中期業績，以及處理其他事項。 承董事會命 微創醫療科學有限公司* 於本公告日期，本公司執行董事為常兆華博士；本公司非執行董事為白藤泰司先生、蘆田典裕先生 及孫維琴女士；及本公司獨立非執行董事為周嘉鴻先生、劉國恩博士及邵春陽先生。 主席 * 僅供識別 常兆華博士 中華人民共和國上海，二零二五年八月十九日 ...

Core Viewpoint - MicroPort Medical is experiencing a decline in stock price, reflecting potential concerns about its financial performance and market position [1]. Financial Performance - As of the 2024 annual report, MicroPort Medical reported total revenue of 7.412 billion yuan and a net loss of 1.539 billion yuan [2]. Market Activity - On August 19, MicroPort Medical's stock price dropped by 5.05%, reaching 13.34 yuan per share, with a trading volume of 442 million yuan [1].

内容概要：微量注射泵作为现代医疗的关键设备，正以给药、智能控制为核心，推动着临床治疗的安全 性与效率升级。随着人口老龄化与慢性病管理需求激增，微量注射泵的市场规模持续扩张。数据显示， 2019年中国微量注射泵行业市场规模达到24.77亿元，到了2024年行业市场规模增长至33.56亿元，年复 合增长率为6.3%。预计未来随着医疗技术的不断进步以及对精准医疗需求的上升，微量注射泵的市场 渗透率持续提高，行业整体呈现出稳步增长的态势。 相关上市企业：迈瑞医疗（300760）、华阳智能（301502）、微创医疗（00853）、鱼跃医疗 （002223）、中红医疗（300981）等。 相关企业：深圳圣诺医疗设备股份有限公司、上海安洁电子设备有限公司、浙江史密斯医学仪器有限公 司、郑州瑞宇科技有限公司、大连万德电子有限公司、苏州泽德医疗器械有限公司、上海蓝德医疗器械 有限公司、广州欧浦瑞医疗科技有限公司、北京思路高高科技发展有限公司、深圳麦科田生物医疗技术 股份有限公司等。 关键词：微量注射泵行业相关政策、微量注射泵行业产业链、微量注射泵行业市场规模 一、微量注射泵行业相关概述 微量注射泵（简称微量泵）是一种新型泵力仪 ...

Core Insights - The top three companies with the highest short positions as of August 8 are WuXi AppTec (17.83%), CATL (14.76%), and COSCO Shipping Holdings (13.33%) [1][2] - The companies with the largest absolute increase in short positions are Hutchison China MediTech (2.12%), Yangtze Optical Fibre and Cable (1.78%), and Ming Yuan Cloud (1.77%) [1][2] - The companies with the largest absolute decrease in short positions are WuXi AppTec (-3.16%), BYD (-1.38%), and Hua Hong Semiconductor (-0.99%) [1][3] Top Short Positions - The top ten companies with the highest short positions include: - WuXi AppTec: 82.73 million shares, 17.83% - CATL: 23.01 million shares, 14.76% - COSCO Shipping Holdings: 384 million shares, 13.33% - Ganfeng Lithium: 53.76 million shares, 13.32% - Green Leaf Pharmaceutical: 503 million shares, 13.11% - Vanke: 280 million shares, 12.68% - Fuyao Glass: 55.51 million shares, 12.57% - Ping An Insurance: 908 million shares, 12.19% - MicroPort Medical: 22.2 million shares, 11.65% - Tigermed: 14.00 million shares, 11.38% [2] Increase in Short Positions - The companies with the largest increase in short positions are: - Hutchison China MediTech: increased from 3.36% to 5.48%, a change of 2.12% - Yangtze Optical Fibre and Cable: increased from 6.01% to 7.78%, a change of 1.78% - Ming Yuan Cloud: increased from 3.04% to 4.82%, a change of 1.77% - China Resources Medical: increased from 3.10% to 4.51%, a change of 1.41% - ZhongAn Online: increased from 6.56% to 7.55%, a change of 1.00% [2] Decrease in Short Positions - The companies with the largest decrease in short positions are: - WuXi AppTec: decreased from 20.99% to 17.83%, a change of -3.16% - BYD: decreased from 8.01% to 6.63%, a change of -1.38% - Hua Hong Semiconductor: decreased from 9.48% to 8.48%, a change of -0.99% - Shanghai Electric: decreased from 3.25% to 2.31%, a change of -0.94% - China National Pharmaceutical: decreased from 6.37% to 5.43%, a change of -0.94% [3][4]

Summary of Medical Device Industry Conference Call Industry Overview - The medical device sector is experiencing a turning point, with improved operational metrics expected in the second half of 2025, alleviating growth pressures from previous high bases [1][2] - Structural opportunities exist in low-value consumables and home medical devices, particularly through international expansion, mergers, and innovation [1][3] Key Insights - The medical device industry has shown signs of recovery after several years of adjustment, with high-value consumables significantly impacted by base effects and various factors affecting in vitro diagnostics (IVD) [1][7] - Leading companies in the medical device sector exhibit high stability and strong competitive advantages, with successful R&D and active mergers helping to consolidate market positions [1][8] - Internationalization is crucial for reshaping company valuations, as the overseas market potential is significantly larger than the domestic market [1][6] Growth Projections - By Q3 2025, companies like United Imaging and Mindray are expected to achieve high growth, with several others like Meihua Medical and EVE Energy also likely to see significant improvements [4][11] - The medical device sector is projected to benefit from new policies and improved bidding processes, particularly in high-value consumables [11][24] Investment Opportunities - Long-term investment opportunities are concentrated in international expansion, mergers, and innovation, with a recommendation to increase focus on these areas [3][25] - Companies with strong international business growth potential include Mindray, Peijian Medical, and Huada Zhizao, among others [31] Market Dynamics - The medical device sector is characterized by a shift towards internationalization, with many companies seeing overseas revenue surpass domestic income [25][26] - The need for internationalization is driven by increased domestic competition and the vast potential of overseas markets, particularly in developed regions [26][27] Regulatory Environment - Ongoing policies such as centralized procurement and DRG (Diagnosis-Related Group) reforms are influencing the medical device industry, with a focus on optimizing bidding processes and pricing adjustments [24][34] - Local governments are implementing innovative measures to encourage medical innovation, which may further support the sector's growth [35] Emerging Technologies - The brain-computer interface technology is highlighted as a promising area, with significant research and development efforts underway in China [21][22] - New product launches in the coming years are expected to drive growth, including advanced imaging technologies and minimally invasive devices [36] Conclusion - The medical device industry is on a recovery path, with structural opportunities arising from international expansion and innovation. Companies that adapt to the changing regulatory landscape and invest in R&D are likely to thrive in the evolving market [1][47]

本文源自：金融界 8月12日，微创医疗(00853)盘中下跌2.0%，截至13:20，报12.76元/股，成交3.0亿元。 微创医疗科学有限公司是一家跨国企业集团，专注于心血管、脑血管、神经系统、骨科学等多个领域的 创新医疗技术，致力于提供普惠化的医疗解决方案。公司在全球多个地区设有创新中心和生产基地，产 品已进入全球超过100个国家和地区，帮助挽救和延长生命。 截至2024年年报，微创医疗营业总收入74.12亿元、净利润-15.39亿元。 作者：行情君 ...