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通告的內 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 不就因本通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。 Shanghai INT Medical Instruments Co., Ltd.* 上海瑛泰醫療器械股份有限公司 （於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） （股 份 代 號：1501） 2025年第一次臨時股東大會通告 茲通告 上 海 瑛 泰 醫 療 器 械 股 份 有 限 公 司（「本公司」）將 於2025年8月29日（星 期 五）下 午2時正於中國上海市嘉定區金園一路925號2幢舉行臨時股東 大 會（「臨時股東大會」），藉 以 審 議 及 酌 情 通 過 以 下 決 議 案（無 論 有 否 修 訂）： 特別決議案 * 僅供識別 – 1 – 1. (A) 審 議 及 批 准 授 予 董 事 會 一 般 授 權，以 於 有 關 期 間 內 配 發、發 行 及 處 理 額 外 內 資 股 及╱或H ...

此乃要件 請即處理 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通函的內容概不負責，對其準 確性或完整性亦不發表任何聲明，並明確表示，概不對因本通函全部或任何部分內容而產 生或因倚賴該等內容而引致的任何損失承擔任何責任。 本通函僅供參考，並不構成收購、購買或認購 上海瑛泰醫療器械股份有限公司 任何證券的 邀請或要約。 閣下如 對本通函任何方面或將採取的行動 有任何疑問，應諮詢 閣下的股票經紀或其他註 冊證券交易商、銀行經理、律師、專業會計師或其他專業顧問。 閣下如已售出或轉讓 名下所有 上海瑛泰醫療器械股份有限公司 的股份，應立即將本通函及 隨 附 的 委 託 書 送 交 買 主 或 承 讓 人，或 經 手 買 賣 或 轉 讓 的 銀 行、股 票 經 紀 或 其 他 代 理 商，以 便轉交買主或承讓人。 Shanghai INT Medical Instruments Co., Ltd.* 上海瑛泰醫療器械股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：1501） (1) 建議發行股份的一般授權；及 (2) 2025年第一次臨時 股東大會通告 本封面頁所用詞彙與本通函所界定者具有 ...

Remuneration Details - The remuneration details for supervisors from 2019 to 2024 are provided, with 徐建海 receiving RMB 378.41k in 2019, increasing to RMB 495.34k in 2021, and then decreasing to RMB 203.41k in 2022[3] - 陳潔's remuneration has shown a steady increase from RMB 245.61k in 2019 to RMB 520.83k in 2024, indicating a growth trend[3] - The company has not paid any remuneration to supervisors in their capacity as supervisors, as indicated in the announcement[3] Governance Structure - The board of directors is composed of both executive and non-executive members, ensuring a diverse governance structure[6] Disclosure Integrity - The announcement does not affect other information disclosed in the annual report, maintaining the integrity of previously reported data[4]

Company Overview - YingTai Medical (01501.HK) closed at HKD 24.750 on May 29, down 1.0% from the previous trading day, reaching a new low in nearly a year [1] - The company has a leading position in the domestic interventional cardiology device sector and is one of the few medical device manufacturers in China with complete industrial capabilities, including independent mold development, product research and development, equipment development, and sterilization [1][2] - YingTai Medical was established in 2006 and is listed on the main board of the Hong Kong Stock Exchange [1] Financial Performance - On the same day, the net capital outflow was HKD 6.93 million, with inflows of HKD 39,600 and outflows of HKD 108,910 [1] Product and Innovation - The company operates 16 subsidiaries focusing on various fields such as cardiology, peripheral, neurology, orthopedics, urology, ENT, exosome therapy, and ultrasound-focused non-invasive treatment [2] - As of June 30, 2024, the company holds 85 domestic registered products, 25 CE-certified products, and 20 FDA-certified products, along with 364 authorized patents and 199 pending patents [2] Recognition and Achievements - YingTai Medical has received multiple honors, including "National Specialized and New 'Little Giant'," "National Intellectual Property Advantage Enterprise," and "Shanghai Enterprise Technology Center" [2] - The company has been supported by over 70 government projects, including national and Shanghai innovation funds and major industrialization projects [2] Workforce and Future Vision - The company employs over 1,700 staff, with its main production base located in Jiading District, Shanghai [3] - YingTai Medical aims to become a globally recognized medical device group led by technological innovation, adhering to the development philosophy of "Innovation Serves Health, Quality Creates Excellence" [3]

Company Overview - Shanghai Yingtai Medical Devices Co., Ltd. is a leading player in the domestic interventional medical device sector, established in 2006 and listed on the Hong Kong Stock Exchange [1] - The company has a complete industrial capability including independent mold development, product research and development, equipment development, and sterilization [1] - Yingtai Medical has obtained ISO13485, CE, and FDA certifications, with products sold in over 70 countries and regions worldwide [1] Product and Innovation - The company operates 16 subsidiaries focusing on various fields such as cardiology, peripheral, neurology, orthopedics, urology, ENT, exosome therapy, and non-invasive ultrasound treatment [2] - As of June 30, 2024, the company holds 85 domestic registered products, 25 CE certified products, and 20 FDA certified products, along with 364 authorized patents and 199 pending patents [2] - Yingtai Medical has received numerous honors and government project supports, including being recognized as a "Little Giant" by the national government and included in the S&P Global "Sustainability Yearbook (China Edition) 2024" [2] Workforce and Future Vision - The company employs over 1,700 staff, with its main production base located in Jiading District, Shanghai [3] - Yingtai Medical aims to become a globally recognized medical device group led by technological innovation, adhering to the development philosophy of "Innovation Serves Health, Quality Creates Excellence" [3]

Group 1 - The company, Ying Tai Medical, has entered into a formal acquisition agreement to acquire a total of 81.83% equity in Hangzhou Weiqiang Medical Technology Co., Ltd. for approximately RMB 513 million, with the company acquiring 51.70% controlling interest for about RMB 324 million [1] - The acquisition is conditional and will only be finalized upon the completion or waiver of certain preconditions [1] - Following the acquisition, the target company will become a non-wholly owned subsidiary of Ying Tai Medical, and the company along with Chen Yue Weixin will inject no less than RMB 150 million into the target company [1] Group 2 - The target company specializes in the research, development, manufacturing, and sales of peripheral vascular interventional medical devices, which is a significant area of focus for the company's industry layout [2] - The acquisition is aimed at enhancing the company's product portfolio in the aortic and peripheral vascular interventional and implantable device sectors [2]

Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 851.95 million, an increase of about 13.17% compared to RMB 752.84 million for the year ended December 31, 2023[9]. - Revenue from interventional medical devices was approximately RMB 773.33 million, representing a growth of about 15.23% from RMB 671.10 million in the previous year[9]. - The net profit for the year was approximately RMB 190.05 million, a 24.03% increase from RMB 153.23 million in the prior year[9]. - Basic and diluted earnings per share for the year were RMB 1.10, up from RMB 0.92 in the previous year[9]. - Gross profit for the year was RMB 537.66 million, resulting in a gross margin of 63.11%, up from 58.19% in the previous year[20]. - Net profit for the year was RMB 190.05 million, with a net profit margin of 22.31%, compared to 20.35% in 2023[20]. - The company achieved sales revenue of RMB 773.33 million from interventional medical devices, representing a 15.23% increase from RMB 671.10 million in the previous year[20]. - Other income decreased by approximately 18.13% to RMB 27.29 million compared to RMB 33.33 million for the year ended December 31, 2023[38]. Research and Development - The company has achieved 22 new product registrations during the reporting period, including 9 Class III medical device registrations and 13 Class II registrations[11]. - The company aims to expand its product pipeline and increase R&D investment to accelerate the development and approval of core and new products[13]. - The establishment of a research and development center will support the exploration of automation and scalable production potential for efficient manufacturing[13]. - R&D expenses for the reporting period were approximately RMB 189.93 million, an increase of 5.92% from RMB 179.31 million in the previous year, driven by ongoing product development and commercialization[42]. - The R&D team consists of professionals with PhDs and master's degrees, holding 406 registered patents and 215 pending patent applications[23]. Market Presence and Distribution - The distribution network covers 3,049 hospitals across 23 provinces, 4 municipalities, and 5 autonomous regions in China, along with 281 overseas customers in 86 countries and regions[10]. - The company holds 33 Class III medical device registrations and 61 Class II medical device registrations as of December 31, 2024[22]. - Revenue from interventional medical devices was approximately RMB 773.33 million, accounting for about 90.77% of total revenue, up from 89.14% in the previous year[35]. Strategic Initiatives - For 2025, the company plans to pursue strategic initiatives combining mergers and acquisitions with organic growth to enhance sustainable development[13]. - The company aims to drive synergistic development through both external acquisitions and organic growth strategies[33]. - The company has established joint ventures for asset management and sales of cosmetics and healthcare products, which are considered related party transactions[32]. Financial Position - Total assets as of December 31, 2024, amounted to RMB 2,259.88 million, an increase from RMB 2,029.63 million in 2023[20]. - Cash and bank balances as of December 31, 2024, were approximately RMB 521.95 million, up from RMB 423.67 million in the previous year[45]. - The total current assets as of December 31, 2024, were approximately RMB 892.13 million, compared to RMB 724.29 million as of December 31, 2023[45]. - The capital debt ratio increased to 13.64% as of December 31, 2024, from 5.65% in the previous year, with bank loans amounting to approximately RMB 227.26 million[46]. Shareholder Information - The largest customer accounted for 6.34% of total sales, while the top five customers collectively represented 20.57% of total sales[73]. - Major shareholders include Ningbo Huai Ge Tai Yi Equity Investment with 9,843,750 shares, representing 13.71% of the class shares and 5.59% of total shares[93]. - The company has a significant concentration of ownership, with multiple entities holding over 10% of shares[96]. - The company has adopted a dividend policy that allows for the declaration and payment of dividends based on various factors, including current and future operations and profitability[78]. Corporate Governance - The board of directors confirmed compliance with corporate governance codes, except for a minor deviation noted in the report[162]. - The company has maintained more than three independent non-executive directors since its listing in November 2019, complying with listing rules[169]. - The board consists of 7 male members and 2 female members, with 63.0% of the total 1,735 employees being female[167]. - The company has adopted a board diversity policy, considering factors such as gender, age, cultural background, and professional experience[167]. Risk Management - The board of directors is responsible for the group's risk management and internal control systems, which are reviewed annually[199]. - The company has implemented multiple policies and procedures for effective risk management, with the general manager holding ultimate responsibility[200]. - An internal audit department has been established to independently assess the adequacy and effectiveness of the company's risk management and internal control systems[200].

合作伙伴征集：2025全球手术机器人大会 报名：首届全球眼科大会 | 暂定议程 报名：首届全球心血管大会 | 奖项报名 报名：首届全球骨科大会 | 奖项报名 2025年3月18日， 瑛泰医疗 （股票代码：01501.HK）发布了2024年全年业绩公告。 # 财务表现 收入 ：2024年总收入达到 8.5亿元人民币，同比增长13.17% 。这一增速超过了2024年中国医疗器械行业平均收入增速，但低于公司过去三年的平均增长率。 毛利与毛利率 ： 毛利为5.37亿元，同比大幅增长22.73% ；毛利率从58.19%提升至63.11%，显示出公司在产品结构优化和生产效率提高方面取得了一定成效。 净利润 ：2024年 净利润为1.9亿元人民币，同比增长24.03% ，增速显著高于收入增长。 每股盈利 ：2024年每股基本盈利及摊薄盈利均为人民币1.10元，较2023年的人民币0.92元增长约19.57%。 股息政策 ：董事会决议不就报告期宣派任何末期股息。 | | 2024 年 | 2023 年 | 飼育 | | --- | --- | --- | --- | | | 人民幣千元 人民幣千元 | | | | 收入 | ...

Investment Rating - The report maintains a "Buy" rating for INT Medical, expecting a return exceeding 15% over the next 12 months [2][18]. Core Insights - INT Medical's revenue for 2024 is projected to grow by 13.2% year-on-year to RMB 852 million, slightly below the forecasted 13% due to pressures from value-based pricing (VBP) and intense competition in the CDMO sector [1][2]. - The company achieved a significant gross margin improvement of 5 percentage points, reaching 63.1% in 2024, driven by increased capacity utilization and automation [1]. - Overseas sales are optimistic, with total overseas revenue expected to grow by 24.2% year-on-year to RMB 253 million, accounting for 29.6% of total sales [2]. Financial Summary - Revenue is projected to increase from RMB 753 million in 2023 to RMB 1,025 million in 2025, reflecting a year-on-year growth rate of 20.4% [3]. - The attributable net profit is expected to rise from RMB 192 million in 2024 to RMB 206 million in 2025, with a year-on-year growth rate of 7.5% [3]. - The earnings per share (EPS) is forecasted to grow from RMB 1.10 in 2024 to RMB 1.17 in 2025, indicating a growth rate of 6.6% [3]. Valuation - The target price for INT Medical is set at HKD 33.68 based on a 9-year DCF model with a terminal growth rate of 2.0% and a weighted average cost of capital (WACC) of 10.73% [2][10].

Investment Rating - The report maintains a "BUY" rating for INT Medical, indicating a potential return of over 15% over the next 12 months [17]. Core Insights - INT Medical's revenue for 2024 grew by 13.2% YoY to RMB 852 million, which was 13% below the analyst's estimate, primarily due to pressures on its CDMO business from VBP and increased competition [1]. - The company's attributable net profit increased by 22.7% YoY to RMB 192 million, with a net profit margin improvement of 1.7 percentage points [1]. - The target price is set at HK$33.68, reflecting a 25% upside from the current price of HK$26.95 [3]. Financial Performance Summary - Revenue projections for FY25E, FY26E, and FY27E are RMB 1,025 million, RMB 1,225 million, and RMB 1,398 million, respectively, with YoY growth rates of 20.4%, 19.5%, and 14.1% [2]. - Attributable net profit for FY25E, FY26E, and FY27E is expected to be RMB 206 million, RMB 245 million, and RMB 280 million, with YoY growth rates of 7.5%, 18.7%, and 14.4% [2]. - The gross margin improved to 63.1% in 2024, up 5 percentage points, driven by enhanced capacity utilization and increased automation [7]. Market and Operational Insights - INT Medical expanded its overseas customer base to 281, covering over 86 countries and regions, with overseas revenue growing by 24.2% YoY to RMB 253 million, representing 29.6% of total sales [7]. - The company has implemented cost-reduction and efficiency-enhancement measures, which are expected to stabilize gross margins despite the negative impact of VBP [7]. - The report anticipates solid revenue growth for INT Medical in 2025E, with revenue and attributable net profit projected to increase by 20.4% YoY and 7.5% YoY, respectively [7].