Group 1 - The core viewpoint of the news is that Spring Medical's stock experienced a slight decline of 1.03% on October 22, with a trading volume of 155 million yuan, indicating a relatively stable market presence despite the drop [1] - On October 22, Spring Medical had a financing buy-in amount of 19.35 million yuan and a financing repayment of 18.11 million yuan, resulting in a net financing buy of 1.24 million yuan, with a total financing and securities balance of 43.62 million yuan as of the same date [1] - The financing balance of Spring Medical, which stands at 43.62 million yuan, accounts for 0.56% of its circulating market value and is above the 90th percentile level over the past year, indicating a high level of financing activity [1] Group 2 - 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, with its main products including 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 attributable to shareholders of 114 million yuan, reflecting a 44.85% increase compared to the previous 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) is the fourth largest with 3.77 million shares, an increase of 2.77 million shares from the previous period, while Southern Medical Health Flexible Allocation Mixed A (000452) is a new entrant as the ninth largest shareholder with 1.60 million shares [3]

Core Points - Spring Medical experienced a decline of 5.11% on October 23, with a stock price of 25.43 CNY per share and a total market capitalization of 9.754 billion CNY [1] - The company specializes in the research, production, and sales of implantable orthopedic medical devices, primarily focusing on joint prosthetics and spinal implants [1] - The main revenue source for the company is medical device products, accounting for 99.89% of total revenue, with a minor contribution from other sources [1] Company Overview - Spring Medical was established on February 12, 1998, and went public on December 30, 2021 [1] - The company's products are exported to various regions, including Asia, South America, Africa, Oceania, and Europe [1] Shareholder Information - Southern Fund's Southern Medical Health Flexible Allocation Mixed A Fund (000452) entered the top ten circulating shareholders, holding 1.603 million shares, which is 0.42% of the circulating shares [2] - The fund has reported a year-to-date return of 43.9% and a one-year return of 27.37% [2] Fund Management - The fund manager of Southern Medical Health Flexible Allocation Mixed A is Cai Qiang, who has been in the position for 2 years and 131 days [3] - The total asset size of the fund is 4.213 billion CNY, with the best return during Cai's tenure being 21.91% [3]

Core Insights - The report highlights significant changes in the Hong Kong Stock Connect holdings, with certain companies experiencing notable increases and decreases in ownership percentages. Group 1: Companies with Increased Holdings - Ying En Bio-B (09606) saw the largest increase in holdings, up by 1.52% to a total of 18.33% [1][2] - Global New Materials International (06616) increased by 1.23%, reaching 25.48% [1][2] - Chunli Medical (01858) experienced a 0.65% increase, bringing its total to 45.13% [1][2] - Over the last five trading days, Ying En Bio-B (09606) had a substantial increase of 10.12% [3] - Shandong Molong (00568) also saw a 5.00% increase, with a total holding of 59.61% [3] - Sanhua Intelligent Control (02050) increased by 2.81%, reaching 14.56% [3] Group 2: Companies with Decreased Holdings - Haotian International Investment (01341) experienced the largest decrease, down by 8.38% to 50.71% [1][2] - Changfei Optical Fiber Cable (06869) saw a reduction of 3.20%, with a current holding of 58.41% [1][2] - Longpan Technology (02465) decreased by 1.72%, now at 44.78% [1][2] - Over the last five trading days, Haotian International Investment (01341) had a significant decrease of 8.45% [3] - Changfei Optical Fiber Cable (06869) also saw a reduction of 6.90% [3] - Goldwind Technology (02208) decreased by 6.06%, with a total holding of 46.36% [3] Group 3: Notable Trends - The report indicates a trend of increasing foreign investment in certain sectors, particularly in biotechnology and medical industries, as evidenced by the increases in holdings for Ying En Bio-B and Chunli Medical [1][2] - Conversely, companies in the technology and energy sectors, such as Haotian International Investment and Changfei Optical Fiber Cable, are experiencing a decline in foreign investment [1][2]

Core Insights - The stock of Chunli Medical (688236) closed at 26.8 yuan on October 22, 2025, down by 1.03% with a trading volume of 56,000 hands and a transaction amount of 155 million yuan [1] Financial Performance - Chunli Medical reported a main revenue of 488 million yuan for the first half of 2025, an increase of 28.27% year-on-year [3] - The net profit attributable to shareholders was 114 million yuan, up 44.85% year-on-year [3] - The second quarter of 2025 saw a single-quarter main revenue of 258 million yuan, a year-on-year increase of 62.85% [3] - The single-quarter net profit attributable to shareholders was 56.4 million yuan, up 136.7% year-on-year [3] - The company achieved a gross margin of 67.09% and a net margin of 23.48% [3] Market Position - Chunli Medical's total market capitalization is 10.28 billion yuan, ranking 37th in the medical device industry [3] - The company has a price-to-earnings ratio (P/E) of 44.9, which is lower than the industry average of 120.11 [3] - The price-to-book ratio (P/B) stands at 3.54, slightly below the industry average of 3.79 [3] Investment Sentiment - In the last 90 days, 8 institutions rated the stock, with 7 buy ratings and 1 hold rating [4] - The average target price set by institutions over the past 90 days is 30.61 yuan [4] Capital Flow - On October 22, 2025, the net inflow of main funds was 2.1672 million yuan, accounting for 1.4% of the total transaction amount [1][2] - Retail investors had a net inflow of 350,300 yuan, representing 0.23% of the total transaction amount [1][2]

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，並表明概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 史文玲 （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） 中國，北京，2025年10月22日 （股 份 代 號：1858） 截至本公告日期，執行董事為史文玲女士、史春寶先生、岳術俊女士及解鳳寶先生；非執行 董事為王鑫先生；及獨立非執行董事為徐泓女士、黃德盛先生及翁杰先生。 北京市春立正達醫療器械股份有限公司（「本公司」）之董事會（「董事會」）謹此 宣佈將於2025年10月30日（星期四）舉行董事會會議，藉以（其中包括）批准本公 司及其附屬公司截至2025年9月30日止九個月之第三季度業績公佈及考慮派付 中期股息（如有）。 代表董事會 北京市春立正達醫療器械股份有限公司 北 京 市 春 立 正 達 醫 療 器 械 股 份 有 限 公 司 Beijing Chunlizhengda Medical Instruments Co., Ltd.* 董事長 董事會會議通告 * 僅供識別 ...

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，並表明概不就因本公告全部或任何部分內容而產生或因依賴 該等內容而引致的任何損失承擔任何責任。 北 京 市 春 立 正 達 醫 療 器 械 股 份 有 限 公 司 Beijing Chunlizhengda Medical Instruments Co., Ltd.* （ 於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司 ） （股 份 代 號：1858） 代表董事會 北京市春立正達醫療器械股份有限公司 董事長 史文玲 中國，北京，2025年10月22日 截至本公告日期，執行董事為史文玲女士、史春寶先生、岳術俊女士及解鳳寶先生；非執行 董事為王鑫先生；及獨立非執行董事為徐泓女士、黃德盛先生及翁杰先生。 * 僅供識別 董事會會議通告 北京市春立正達醫療器械股份有限公司（「本公司」）之董事會（「董事會」）謹此 宣佈將於2025年10月30日（星期四）舉行董事會會議，藉以（其中包括）批准本公 司及其附屬公司截至2025年9月30日止九個月之第三季度業績公佈及考慮派付 中期股息（如有）。 ...

Core Viewpoint - Spring Medical has seen a significant stock price increase of 18.98% over the past five days, closing at 28.48 CNY per share, with a market capitalization of 10.924 billion CNY [1] Company Overview - Beijing Spring Medical Co., Ltd. specializes in the research, production, and sales of implantable orthopedic medical devices, primarily focusing on joint prosthetics and spinal implants [1] - The company was established on February 12, 1998, and went public on December 30, 2021 [1] - The main revenue source is from medical device products, accounting for 99.89% of total revenue, with a minor contribution from other sources [1] Shareholder Insights - Ping An Fund's Low Carbon Economy Mixed A Fund (009878) is among the top ten shareholders of Spring Medical, having increased its holdings by 2.77 million shares in the second quarter [2] - The fund currently holds 3.77 million shares, representing 0.98% of the circulating shares, with a floating profit of approximately 5.278 million CNY as of the latest report [2][4] - Over the five-day stock price increase, the fund's floating profit reached 16.2864 million CNY [2][4] Fund Performance - The Low Carbon Economy Mixed A Fund has a total asset size of 1.427 billion CNY and has achieved a year-to-date return of 27.73% [2] - The fund's one-year return stands at 23.92%, ranking 3413 out of 8026 in its category [2] - The fund manager, He Jie, has a tenure of 7 years and 196 days, with the best fund return during this period being 222.53% [3]

来源：新浪证券-红岸工作室 10月21日，春立医疗涨0.74%，成交额1.14亿元。两融数据显示，当日春立医疗获融资买入额1481.85万 元，融资偿还782.54万元，融资净买入699.31万元。截至10月21日，春立医疗融资融券余额合计4238.89 万元。 融资方面，春立医疗当日融资买入1481.85万元。当前融资余额4238.89万元，占流通市值的0.54%，融 资余额超过近一年90%分位水平，处于高位。 融券方面，春立医疗10月21日融券偿还0.00股，融券卖出0.00股，按当日收盘价计算，卖出金额0.00 元；融券余量0.00股，融券余额0.00元，超过近一年70%分位水平，处于较高位。 资料显示，北京市春立正达医疗器械股份有限公司位于北京市通州区通州经济开发区南区鑫觅西二路10 号，成立日期1998年2月12日，上市日期2021年12月30日，公司主营业务涉及北京市春立正达医疗器械 股份有限公司是一家主要从事植入性骨科医疗器械研发、生产及销售业务的中国公司。该公司主要产品 为关节假体产品及脊柱类植入产品。关节假体产品涵盖髋、膝、肩、肘四大人体关节。脊柱类植入产品 为脊柱内固定系统的全系列产品组合 ...

Market Overview - The medical device sector increased by 0.28% on October 20, with Chunli Medical leading the gains [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Top Gainers in Medical Device Sector - Chunli Medical (688236) closed at 26.88, up 8.17% with a trading volume of 49,900 shares and a turnover of 128 million yuan [1] - Laijing Co. (301093) closed at 36.89, up 7.52% with a trading volume of 63,700 shares and a turnover of 234 million yuan [1] - Aipeng Medical (300753) closed at 30.69, up 7.42% with a trading volume of 127,900 shares and a turnover of 388 million yuan [1] - Other notable gainers include Canar Co. (301122) up 6.07%, Zhend Medical (603301) up 5.93%, and Haooubo (688656) up 5.15% [1] Top Losers in Medical Device Sector - Toukeng Life (300642) closed at 27.30, down 3.12% with a trading volume of 182,000 shares and a turnover of 506 million yuan [2] - Rejing Bio (688068) closed at 177.83, down 2.44% with a trading volume of 26,400 shares and a turnover of 468 million yuan [2] - Yingke Medical (300677) closed at 42.01, down 2.21% with a trading volume of 301,700 shares and a turnover of 1.261 billion yuan [2] Capital Flow Analysis - The medical device sector experienced a net outflow of 599 million yuan from institutional investors, while retail investors saw a net inflow of 513 million yuan [2] - The sector's overall capital flow indicates a mixed sentiment, with institutional investors withdrawing funds while retail investors are actively buying [2] Individual Stock Capital Flow - Lepu Medical (300003) had a net inflow of 40.93 million yuan from institutional investors, while retail investors saw a net outflow of 32.18 million yuan [3] - Lino Pharmaceutical (301188) experienced a net inflow of 16.44 million yuan from institutional investors, with retail investors also seeing a net outflow of 15.07 million yuan [3] - Huatai Medical (688617) had a net inflow of 15.70 million yuan from institutional investors, while retail investors faced a net outflow of 3.08 million yuan [3]

Core Viewpoint - Spring Medical experienced an 8.17% increase in stock price on October 20, with a trading volume of 128 million yuan and a market capitalization of 10.31 billion yuan [1] Company Overview - Spring Medical is a leading domestic manufacturer of orthopedic medical devices, 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 recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which signifies its strong innovation capabilities and high market share in niche markets [3] - The company is located in Tongzhou District, Beijing, and was established on February 12, 1998, with its stock listed on December 30, 2021 [7][8] Product Portfolio - Spring Medical's main products include joint prosthetics and spinal implants, covering major human joints such as hip, knee, shoulder, and elbow, as well as a full range of spinal internal fixation systems [2][8] - The company has developed a customized porous tantalum dental implant product, which is currently in the design and inspection phase [2] Financial Performance - For the first half of 2025, Spring Medical achieved a 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] Market Position - The company is part of the pharmaceutical and biological industry, specifically in the medical device and consumables sector, and is involved in various concept sectors including H-shares, share buybacks, new materials, and robotics [8] - As of June 30, 2025, the number of shareholders decreased by 17.57% to 5,920, while the average circulating shares per person increased by 341.41% to 48,836 shares [8][9]