每经AI快讯，9月1日，三星医疗（601567）(601567.SH)公告称，公司下属全资子公司三星智能签订埃 及智能表项目，合同金额总计5,880.00万美元，约合4.19亿人民币，占公司2024年度经审计营业收入的 2.87%。 ...

Group 1 - The core point of the article is that Samsung Medical has signed a contract for a smart meter project in Egypt, with a total contract value of 58.8 million USD, which is approximately 419 million RMB, accounting for 2.87% of the company's projected revenue for the year 2024 [1]

证券代码：601567 证券简称：三星医疗 公告编号：临2025-070 宁波三星医疗电气股份有限公司 关于为子公司提供担保的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 担保对象及基本情况 担保对象 被担保人名称 宁波奥克斯智能科技股份有限公司（以 下简称"奥克斯智能科技"） 本次担保金额 35,000.00 万元 实际为其提供的担保余额 399,831.62 万元（含本次担保） 是否在前期预计额度内 是 □否 □不适用：_________ 本次担保是否有反担保 □是 否 □不适用：_________ 累计担保情况 | 对外担保逾期的累计金额（万元） | 0 | | --- | --- | | 截至本公告日上市公司及其控股 子公司对外担保总额（万元） | 974,850.00 | | 对外担保总额占上市公司最近一 期经审计净资产的比例（%） | 80.69% | | 100% 特别风险提示（如有请勾选） | □对外担保总额超过最近一期经审计净资产 担保金额超过上市公司最近一期经审计净 | | 资 ...

Core Insights - Samsung Medical experienced a stock decline of 0.34% on August 25, with a trading volume of 991 million yuan [1] - The company reported a financing buy-in of 139 million yuan and a repayment of 110 million yuan on the same day, resulting in a net financing buy of 29.26 million yuan [1] - As of August 25, the total financing and securities lending balance for Samsung Medical was 492 million yuan, with a financing balance of 489 million yuan, accounting for 1.49% of the circulating market value, indicating a high level compared to the past year [1] Financing and Securities Lending - On August 25, Samsung Medical had a securities lending repayment of 300 shares and sold 19,100 shares, amounting to 445,600 yuan based on the closing price [1] - The remaining securities lending volume was 127,500 shares, with a balance of 2.97 million yuan, which is below the 30th percentile of the past year, indicating a low level [1] Company Overview - Samsung Medical Electric Co., Ltd. is located in Ningbo, Zhejiang Province, established on February 1, 2007, and listed on June 15, 2011 [1] - The company's main business includes the research, production, and sales of electric energy metering and information collection products, as well as distribution equipment and medical services [1] - The revenue composition of Samsung Medical is as follows: smart distribution and utilization of electricity 76.16%, medical services 22.31%, other (supplementary) 1.48%, and financing leasing and consulting services 0.04% [1] Financial Performance - As of June 30, the number of shareholders for Samsung Medical reached 29,000, an increase of 76.91% compared to the previous period [2] - The average circulating shares per person decreased by 43.15% to 48,732 shares [2] - For the first half of 2025, Samsung Medical achieved an operating income of 7.972 billion yuan, a year-on-year increase of 13.93%, and a net profit attributable to shareholders of 1.230 billion yuan, up 6.93% year-on-year [2] Dividend Distribution - Since its A-share listing, Samsung Medical has distributed a total of 5.728 billion yuan in dividends, with 2.650 billion yuan distributed over the past three years [2] Institutional Holdings - As of June 30, 2025, Hong Kong Central Clearing Limited was the fourth largest circulating shareholder of Samsung Medical, holding 47.9803 million shares, an increase of 3.9134 million shares compared to the previous period [2]

证券研究报告 | 2025年08月25日 三星医疗（601567.SH） 优于大市 海外配电高歌猛进，提质增效静待盈利修复 上半年业绩稳健增长，毛利率阶段性下降。2025年上半年公司实现营收79.72 亿元，同比+13.93%；归母净利润 12.30 亿元，同比+6.93%；扣非净利润 11.36 亿元，同比+5.34%。上半年公司毛利率 28.97%，同比-5.64pct.；净利率 15.24%，同比-1.25pct.。我们估计，毛利率下滑主要受海外配电处于开拓 期和国内配用电产品价格阶段性下滑引起。 二季度业绩小幅下滑，医疗业务暂时承压。二季度公司实现营收 43.41 亿元， 同比+9.28%，环比+19.57%；归母净利润7.40亿元，同比-5.77%，环比+51.32%； 扣非净利润 6.76 亿元，同比-3.89%，环比+46.82%。二季度公司毛利率 29.03%，同比-8.18pct.，环比+0.13pct.；净利率 16.92%，同比-2.96pct.， 环比+3.69pct.。 配用电业务收入订单稳健增长，海外配电订单持续高增。上半年公司智能配 用电收入 63.54 亿元，同比+19.53% ...

金融界消息 截至2025年8月25日收盘，三星医疗（601567）报收于23.33元，下跌0.34%，换手率 3.04%，成交量42.68万手，成交金额9.91亿元。 天眼查商业履历信息显示，宁波三星医疗电气股份有限公司，成立于2007年，位于宁波市，是一家以从 事仪器仪表制造业为主的企业。企业注册资本141100.6571万人民币，实缴资本40050万人民币。公司法 定代表人为沈国英。 通过天眼查大数据分析，宁波三星医疗电气股份有限公司共对外投资了19家企业，参与招投标项目755 次，知识产权方面有商标信息22条，专利信息1517条，此外企业还拥有行政许可28个。 来源：金融界 资金流向方面，今日主力资金净流入4651.10万元，占比成交额4.69%。其中，超大单净流出3631.95万 元、占成交额3.66%，大单净流入8283.05万元、占成交额8.36%，中单净流出流出1582.58万元、占成交 额1.6%，小单净流出3068.52万元、占成交额3.1%。 三星医疗最新一期业绩显示，截至2025中报，公司营业总收入79.72亿元、同比增长13.93%，归属净利 润12.30亿元，同比增长6.93%，扣非 ...

Investment Rating - The report maintains an "Accumulate" rating for the electric equipment industry [1] Core Views - The AIDC (Artificial Intelligence and Data Center) sector is expected to experience significant growth, with humanoid robots being a key catalyst for this expansion, projected to reach mass production in 2025 [1][4] - The report highlights the strong performance of the electric vehicle sector, with a projected annual growth rate of 25% to reach 16 million units sold in 2025 [4][8] - The energy storage market is anticipated to grow by 30%+ in the U.S. due to increasing demand and favorable policy adjustments, with a compound annual growth rate (CAGR) of 30-40% expected from 2025 to 2028 [4][8] Industry Trends - The humanoid robot market is projected to have a potential market size exceeding 15 trillion yuan, with mass production expected to begin in 2025 [4][12] - The electric vehicle market in Europe is showing strong sales growth, with a 41% year-on-year increase in sales for nine countries [4][8] - The energy storage sector is seeing a surge in demand, particularly in emerging markets, with significant growth expected in both residential and commercial storage solutions [4][8] Company Performance - Companies such as Ningde Times, BYD, and Sunshine Power are highlighted as key players with strong growth potential in their respective sectors [4][7] - The report provides detailed financial performance metrics for various companies, indicating revenue growth and profitability trends [7] - Specific recommendations include investing in leading companies in the AIDC supply chain, electric vehicles, and energy storage sectors, emphasizing their competitive advantages and growth trajectories [4][5][7]

Core Viewpoint - Samsung Medical demonstrates robust performance growth driven by the synergy of its dual main businesses: "power grid equipment + medical services" [1][4] Group 1: Financial Performance - In the first half of 2025, Samsung Medical achieved operating revenue of 7.972 billion yuan, a year-on-year increase of 13.93% [1] - The net profit attributable to shareholders reached 1.23 billion yuan, reflecting a year-on-year growth of 6.93% [1] - The company plans to distribute a cash dividend of 4.85 yuan per 10 shares, totaling approximately 679 million yuan, with a dividend payout ratio of 55.20% [5] Group 2: Business Segments - Samsung Medical's overseas business experienced explosive growth, with total orders on hand reaching 17.632 billion yuan, a year-on-year increase of 18.39%, and overseas distribution orders at 2.182 billion yuan, up 123.96% [3][4] - The company reported overseas operating revenue of 1.495 billion yuan, marking a year-on-year increase of 50.89%, becoming a key driver of performance growth [3][4] - The medical services segment generated operating revenue of 3.258 billion yuan in 2024, reflecting a year-on-year growth of 12.69% [5] Group 3: Innovation and R&D - Samsung Medical invests over 5% of its revenue annually in research and development, fostering a complete independent innovation system [5][6] - R&D expenses from 2020 to 2024 were 313 million yuan, 294 million yuan, 327 million yuan, 471 million yuan, and 523 million yuan, with 257 million yuan in the first half of 2025 [6] - The company enhances its medical services through the introduction of advanced international medical technologies and equipment, particularly in rehabilitation medicine [6]

Core Viewpoint - Samsung Medical's stock price has decreased by 3.3% this week, closing at 23.41 yuan, with a total market capitalization of 32.897 billion yuan as of August 22, 2025 [1] Shareholder Changes - As of June 30, 2025, the number of shareholders increased by 12,600 to 29,000, representing a growth of 76.91% since March 31, 2025 [2][6] - The average number of shares held per shareholder decreased from 86,200 to 48,700, with an average holding value of 1.0926 million yuan [2] Performance Disclosure - For the first half of 2025, Samsung Medical reported a main revenue of 7.972 billion yuan, a year-on-year increase of 13.93% [3] - The net profit attributable to shareholders was 1.23 billion yuan, up 6.93% year-on-year, while the net profit excluding non-recurring items was 1.136 billion yuan, an increase of 5.34% [3] - In Q2 2025, the company achieved a main revenue of 4.341 billion yuan, a year-on-year increase of 9.28%, but the net profit attributable to shareholders decreased by 5.77% to 740 million yuan [3] - The company's debt ratio stands at 46.62%, with investment income of 119 million yuan and financial expenses of -115 million yuan, while the gross profit margin is 28.97% [3] Company Announcements - Samsung Medical announced a profit distribution plan for the first half of 2025, proposing a cash dividend of 4.85 yuan per 10 shares (including tax) [4] - The total number of shares eligible for profit distribution is approximately 1.399 billion, with an expected total cash dividend of about 678.76 million yuan, accounting for 55.20% of the net profit attributable to shareholders for the first half of 2025 [4] - The profit distribution plan is subject to approval at the company's second extraordinary general meeting in 2025 and will not significantly impact the company's operating cash flow or long-term development [4]

据证券之星公开数据整理，近期三星医疗（601567）发布2025年中报。截至本报告期末，公司营业总收 入79.72亿元，同比上升13.93%，归母净利润12.3亿元，同比上升6.93%。按单季度数据看，第二季度营 业总收入43.41亿元，同比上升9.28%，第二季度归母净利润7.4亿元，同比下降5.77%。本报告期三星医 疗公司应收账款体量较大，当期应收账款占最新年报归母净利润比达161.16%。 本次财报公布的各项数据指标表现尚佳。其中，毛利率28.97%，同比减16.24%，净利率15.24%，同比 减7.6%，销售费用、管理费用、财务费用总计8.31亿元，三费占营收比10.43%，同比减23.3%，每股净 资产8.62元，同比增9.52%，每股经营性现金流-0.04元，同比减122.77%，每股收益0.87元，同比增 7.41% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 69.97 亿 | 79.72亿 | 13.93% | | 归母浄利润（元） | 11.5亿 | 12.3亿 | 6.93% | | ...