证券之星消息，截至2025年10月14日收盘，春立医疗(688236)报收于22.76元，下跌0.74%，换手率 0.54%，成交量1.56万手，成交额3581.34万元。 | 指标 | 春立医疗 | 医疗器械行业均值 | 行业排名 | | --- | --- | --- | --- | | 总市值 | 87.3 乙元 | 117.95亿元 | 43 123 | | 净资产 | 29.09亿元 | 38.89亿元 | 53 123 | | 净利润 | 1.14亿元 | 1.49亿元 | 39 123 | | 市盈率(动) | 38.13 | 66.45 | 45 123 | | 市净率 | 3 | 3.78 | 70 123 | | 毛利率 | 67.09% | 51.85% | 27 123 | | 净利率 | 23.48% | 10.39% | 31 123 | | ROE | 3.98% | 1.8% | 43 123 | 春立医疗2025年中报显示，公司主营收入4.88亿元，同比上升28.27%；归母净利润1.14亿元，同比上升 44.85%；扣非净利润1.06亿元，同比上升61.09%；其中2025 ...

Core Viewpoint - Spring Medical, a leading domestic orthopedic medical device manufacturer, is focusing on the research, production, and sales of implantable orthopedic medical devices, including dental metal and invisible orthodontics, and is currently in the design and inspection phase for customized dental implants [2][3]. Company Overview - Spring Medical is located in Tongzhou District, Beijing, and was established on February 12, 1998. The company specializes in the research, production, and sales of implantable orthopedic medical devices, with its main products including joint prosthetics and spinal implants [7][8]. - The company's main product categories include joint prosthetics covering hip, knee, shoulder, and elbow joints, as well as a full range of spinal internal fixation systems [5][8]. Financial Performance - For the first half of 2025, Spring Medical achieved operating revenue of 488 million yuan, representing a year-on-year growth of 28.27%, and a net profit attributable to shareholders of 114 million yuan, up 44.85% year-on-year [8]. - Since its A-share listing, the company has distributed a total of 359 million yuan in dividends, with 309 million yuan distributed over the past three years [8]. Industry Position - Spring Medical has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title in the national evaluation of small and medium-sized enterprises, indicating its strong market position and innovation capabilities [3]. - The company has introduced various types of 3D printing equipment for the development of customized prosthetic products, including EBM and MJF technologies, enhancing its production capabilities [2][3]. Market Activity - On October 14, Spring Medical's stock price decreased by 0.74%, with a trading volume of 35.81 million yuan and a turnover rate of 0.54%, bringing the total market capitalization to 8.73 billion yuan [1]. - The stock has seen a net outflow of 527,000 yuan from major funds today, with a continuous reduction in major fund holdings over the past three days [4][5].

Core Viewpoint - Spring Medical has experienced a continuous decline in stock price over the past four days, with a cumulative drop of 8.63% [1] Company Overview - Beijing Spring Medical Co., Ltd. was established on February 12, 1998, and went public on December 30, 2021. The company specializes in the research, production, and sales of implantable orthopedic medical devices [1] - The main products include joint prosthetics and spinal implant products, covering major human joints such as hip, knee, shoulder, and elbow, as well as a full range of spinal fixation systems [1] - The company's revenue composition is primarily from medical device products (99.89%), with a minor contribution from other sources (0.11%) [1] Fund Holdings - Two funds under Changxin Fund have significant holdings in Spring Medical, totaling 108,900 shares. As of the latest stock price of 22.76 yuan, the funds have incurred a floating loss of 18,500 yuan today, with a total loss of 234,100 yuan over the past four days [2] - Changxin Stable Selection Mixed Fund (A009606) holds 65,753 shares, accounting for 1.76% of the fund's net value, while Changxin Easy Progress Mixed Fund (A003126) holds 43,138 shares, representing 1.57% of its net value [2] - The floating losses for the Changxin Stable Selection Mixed Fund today are approximately 11,200 yuan, with a total loss of 141,400 yuan over the four-day decline. For the Changxin Easy Progress Mixed Fund, the floating loss today is about 7,333 yuan, with a total loss of 92,700 yuan during the same period [2]

Group 1 - The core point of the article highlights that southbound funds reduced their holdings in Chunli Medical (01858.HK) by 288,600 shares on October 13, 2025, marking a decrease of 0.67% [1][2] - Over the past five trading days, there were two days of net reductions in holdings, totaling 168,400 shares [1][2] - In the last 20 trading days, southbound funds increased their holdings on 12 days, with a cumulative net increase of 623,400 shares [1][2] Group 2 - As of now, southbound funds hold 42,909,600 shares of Chunli Medical, accounting for 45.09% of the company's total issued ordinary shares [1][2] - Chunli Medical is primarily engaged in the research, production, and sales of implantable orthopedic medical devices, with main products including joint prosthetics and spinal implants [2] - The company's joint prosthetic products cover major human joints such as hip, knee, shoulder, and elbow, while its spinal implant products include a full range of spinal fixation systems [2]

Group 1 - The core viewpoint of the news is that Spring Medical experienced a decline in stock price and significant financing activity on October 10, with a net financing outflow of 109.77 million yuan [1] - On October 10, Spring Medical's stock fell by 2.80%, with a trading volume of 53.165 million yuan [1] - The financing balance of Spring Medical reached 36.93 million yuan, accounting for 0.55% of its market capitalization, indicating a high level of financing activity compared to the past year [1] Group 2 - Spring Medical, established on February 12, 1998, specializes in the research, production, and sales of implantable orthopedic medical devices, with its main products being joint prosthetics and spinal implants [2] - As of June 30, Spring Medical reported a revenue of 488 million yuan for the first half of 2025, representing a year-on-year growth of 28.27%, and a net profit of 114 million yuan, up 44.85% year-on-year [2] - The company has distributed a total of 359 million yuan in dividends since its A-share listing, with 309 million yuan distributed over the past three years [3] Group 3 - As of June 30, 2025, the number of shareholders in Spring Medical decreased by 17.57% to 5,920, while the average circulating shares per person increased by 341.41% to 48,836 shares [2] - Among the top ten circulating shareholders, Ping An Low Carbon Economy Mixed A (009878) increased its holdings by 2.77 million shares, while Southern Medical Health Flexible Allocation Mixed A (000452) entered the list as a new shareholder with 1.603 million shares [3]

Core Viewpoint - The semi-annual report performance meets expectations, with domestic business showing recovery growth and overseas business continuing rapid growth. Profit growth outpaces revenue growth primarily due to internal cost reduction and efficiency improvement, leading to a steady enhancement in profitability [1] Financial Performance - In the first half of the year, the company achieved revenue of 488 million yuan, a year-on-year increase of 28.27%, and a net profit attributable to the parent company of 114 million yuan, a year-on-year increase of 44.85%. The net profit after deducting non-recurring items was 106 million yuan, a year-on-year increase of 61.09% [2] - The basic earnings per share were 0.30 yuan per share [3] Quarterly Analysis - In Q2, the company achieved revenue of 258 million yuan, a year-on-year increase of 62.85% and a quarter-on-quarter increase of 12.14%. The net profit attributable to the parent company was 56 million yuan, a year-on-year increase of 136.70% [4] - The profit growth rate exceeded the revenue growth rate due to internal cost reduction and efficiency improvements. The company recorded credit impairment losses and asset impairment losses of 39.33 million yuan in the first half, compared to 11.02 million yuan in the same period last year [4] Outlook for the Second Half - The domestic business is expected to continue its recovery growth, while overseas business is anticipated to maintain rapid growth. The impact of joint procurement price reductions is expected to be cleared, and the company is likely to sustain high growth trends in Q3 and Q4 due to low performance baselines from the previous year [5] Profitability and Cost Management - The gross profit margin decreased to 67.09%, down 4.43 percentage points, mainly due to price reductions from joint procurement. The sales expense ratio decreased significantly to 19.74%, down 9.59 percentage points, attributed to reduced market development costs [6] - The net cash flow from operating activities was 141 million yuan, compared to a negative 69 million yuan in the same period last year, mainly due to increased customer payments. The accounts receivable turnover days decreased to 88.8 days, down 90.1 days year-on-year, indicating improved collection efficiency [6] Long-term Growth Potential - In the short term, the company is expected to reach a performance inflection point, with overseas business likely to continue expanding. The company has strong R&D and production capabilities, with new products in sports medicine, robotics, and dentistry expected to contribute to future growth [7] - Revenue projections for 2025-2027 are 1.111 billion yuan, 1.302 billion yuan, and 1.529 billion yuan, representing year-on-year growth of 37.9%, 17.2%, and 17.4% respectively. Net profit attributable to the parent company is projected to be 238 million yuan, 280 million yuan, and 331 million yuan, with year-on-year growth of 90.8%, 17.4%, and 18.2% respectively [7]

Core Viewpoint - Spring Medical experienced a decline of 2.80% on October 10, with a trading volume of 53.165 million yuan and a market capitalization of 8.922 billion yuan [1] Company Overview - Spring Medical is a leading domestic orthopedic medical device manufacturer, focusing on the research, production, and sales of implantable orthopedic medical devices, including oral metal and invisible orthodontics, as well as oral implants and restorations [2][5] - The company is located in Tongzhou District, Beijing, and was established on February 12, 1998, with its listing date on December 30, 2021 [7][8] - Main products include joint prosthetics covering hip, knee, shoulder, and elbow joints, and a full range of spinal implant products [5][8] Recent Developments - The company is in the design and inspection phase for a customized porous tantalum dental implant product [2] - Spring Medical has introduced various types of 3D printing equipment, including EBM and MJF devices, to advance the development of customized prosthetic products [2][3] - The company has been recognized as a "specialized and innovative" small giant enterprise by the Ministry of Industry and Information Technology, indicating its strong market position and innovation capabilities [3] Financial Performance - For the first half of 2025, Spring Medical achieved operating revenue of 488 million yuan, representing a year-on-year growth of 28.27%, and a net profit attributable to shareholders of 114 million yuan, up 44.85% year-on-year [8] - The company has distributed a total of 359 million yuan in dividends since its A-share listing, with 309 million yuan in the last three years [8] Shareholder Structure - As of June 30, 2025, the top ten circulating shareholders include Ping An Low Carbon Economy Mixed A and Southern Medical Health Flexible Allocation Mixed A, with notable changes in holdings [9]

Core Viewpoint - Spring Medical experienced a decline of 3.93% in stock price on October 9, with a trading volume of 93.15 million yuan, indicating potential market volatility and investor sentiment concerns [1] Financing Summary - On October 9, Spring Medical had a financing buy-in amount of 14.07 million yuan and a financing repayment of 8.81 million yuan, resulting in a net financing buy-in of 5.26 million yuan [1] - As of October 9, the total financing and securities lending balance for Spring Medical was 38.03 million yuan, with the financing balance accounting for 0.55% of the circulating market value, indicating a high level compared to the past year [1] - The financing balance of 38.02 million yuan exceeds the 80th percentile level over the past year, suggesting strong investor interest [1] Securities Lending Summary - On October 9, there were no shares repaid or sold in securities lending, with a remaining quantity of 200 shares and a securities lending balance of 4,786 yuan, which is above the 70th percentile level over the past year [1] Company Overview - Spring Medical, established on February 12, 1998, and listed on December 30, 2021, specializes in the research, production, and sales of implantable orthopedic medical devices, including joint prosthetics and spinal implants [2] - The company's main products include hip, knee, shoulder, and elbow joint prosthetics, as well as a full range of spinal fixation systems, with exports to various regions including Asia, South America, Africa, Oceania, and Europe [2] - As of June 30, the company reported a revenue of 488 million yuan for the first half of 2025, representing a year-on-year growth of 28.27%, and a net profit attributable to shareholders of 114 million yuan, up 44.85% year-on-year [2] Dividend Summary - Since its A-share listing, Spring Medical has distributed a total of 359 million yuan in dividends, with 309 million yuan distributed over the past three years [3] Institutional Holdings Summary - As of June 30, 2025, the top ten circulating shareholders included Ping An Low Carbon Economy Mixed A, which increased its holdings by 2.77 million shares to 3.77 million shares, and Southern Medical Health Flexible Allocation Mixed A, which entered the top ten with 1.60 million shares [3] - Notably, Zhonggeng Small Cap Value Stock and Hong Kong Central Clearing Limited exited the top ten circulating shareholders list [3]

截至月份: 2025年9月30日 狀態: 新提交 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 呈交日期: 2025年10月6日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01858 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 95,140,500 | RMB | | 1 RMB | | 95,140,500 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 95,140,500 | RMB | | 1 RMB | | 95,140,500 | | 2. 股份分類 | 普通股 | 股份類別 | A | | 於香港聯交所上市 (註1) | | 否 | | | --- ...

Core Viewpoint - Spring Medical experienced a decline of 3.93% on October 9, with a trading volume of 93.15 million yuan and a total market capitalization of 9.179 billion yuan [1] Company Overview - Spring Medical is a leading domestic orthopedic medical device manufacturer, focusing on the research, production, and sales of implantable orthopedic medical devices, including oral metal and invisible orthodontics, as well as oral implants and restorations [2][5] - The company is located in Tongzhou District, Beijing, and was established on February 12, 1998, with its listing date on December 30, 2021 [7][8] - Main products include joint prosthetics covering hip, knee, shoulder, and elbow joints, and a full range of spinal implant products [5][8] Business Development - The company is currently in the design and inspection phase for a customized porous tantalum dental implant product [2] - Spring Medical has introduced various types of 3D printing equipment, including EBM and MJF, to advance the development of customized prosthetic products [2][3] - The company has been recognized as a "specialized and innovative" small giant enterprise, indicating strong innovation capabilities and high market share [3] Financial Performance - For the first half of 2025, Spring Medical achieved operating revenue of 488 million yuan, a year-on-year increase of 28.27%, and a net profit attributable to shareholders of 114 million yuan, up 44.85% year-on-year [8] - The company has distributed a total of 359 million yuan in dividends since its A-share listing, with 309 million yuan in the last three years [8] Shareholder Structure - As of June 30, 2025, the top ten circulating shareholders include Ping An Low Carbon Economy Mixed A and Southern Medical Health Flexible Allocation Mixed A, with notable changes in holdings [9]