北京市中伦（深圳）律师事务所 关于广州维力医疗器械股份有限公司 2024 年年度股东大会的 致：广州维力医疗器械股份有限公司 根据《中华人民共和国公司法》（下称"《公司法》"）、中国证监会发布的《上 市公司股东会规则》（下称"《股东会规则》"）及公司现行章程（下称"《公司章 程》"）的有关规定，北京市中伦（深圳）律师事务所（下称"本所"）接受广州 维力医疗器械股份有限公司（下称"公司"）的委托，指派律师出席公司 2024 年 年度股东大会（下称"本次股东大会"），并就本次股东大会的召集和召开程序、 召集人资格、出席和列席会议人员资格、表决程序及表决结果等事宜发表法律意 见。 法律意见书 $$\Xi\,{\cal O}\,{\underline{{{-\,}}}}\,{\mit\Pi}\,{\not\!\Pi}\,{\not\!\Pi}\,{\not\!\Pi}\,{\not\!\Pi}$$ 北京市中伦（深圳）律师事务所 关于广州维力医疗器械股份有限公司 2024 年年度股东大会的 法律意见书 本所认为，本次股东大会的召集和召开程序符合《公司法》《股东会规则》 和《公司章程》的规定。 二、本次股东大会的召集人资 ...

Group 1: Company Overview - Guangzhou Weili Medical Instrument Co., Ltd. specializes in the research, production, and sales of medical devices in fields such as anesthesia, urology, nursing, and respiratory care, widely used in surgeries and emergency care [2] - The main products include tracheal intubation, laryngeal masks, bronchial intubation, anesthesia masks, urinary catheters, and various other medical devices [2] Group 2: Financial Performance - For Q1 2025, the company reported revenue of 348 million yuan, a year-on-year increase of 12.60%, and a net profit of 58.92 million yuan, up 17.25%, with a gross profit margin of 44.78% [2] - As of May 12, the closing stock price was 11.96 yuan, with a rolling PE ratio of 15.36, marking a new low in 24 days, and a total market capitalization of 3.503 billion yuan [1] Group 3: Market Position - In the medical device industry, the average PE ratio is 49.84, with a median of 36.59, placing Weili Medical at the 37th position among its peers [1][3] - The company has 12 institutional investors holding a total of 162.45 million shares, with a combined market value of 1.949 billion yuan [1]

Group 1: Macro Insights - The Federal Reserve maintained interest rates and emphasized increasing uncertainty, with market expectations for rate cuts in June and July at 20% and 80% respectively, and a total of three cuts expected for the year [4] - The current economic environment presents a dual challenge of stagnation versus inflation, with short-term liquidity crises and long-term recession concerns [4] Group 2: TMT Sector Analysis - The TMT sector shows high levels of crowding, suggesting a cautious approach as the market may continue to favor lower-performing sectors [5] - The industry rotation model indicates that cyclical sectors like non-ferrous metals, steel, food and beverage, and building materials are in a strong trend with low crowding, while TMT remains crowded [5] Group 3: Coal Industry Overview - As of Q1 2025, the coal industry is experiencing a significant downturn, with coal prices returning to levels seen in early 2021, and the average price of Q5500 coal at 657 RMB/ton, down 111 RMB/ton since the beginning of the year [14][15] - The total profit of large coal enterprises in Q1 2025 was 803.8 billion RMB, a year-on-year decrease of 47.7%, with over half of coal companies reporting losses [17] - Major coal companies like China Shenhua and Shaanxi Coal have substantial cash reserves, indicating strong dividend-paying capabilities despite the industry's challenges [7][9] Group 4: Media Sector Performance - The media sector showed a significant recovery in Q1 2025, with notable performances in gaming and cinema, and a positive outlook for the year [22] - The film industry, particularly, is expected to benefit from a strong lineup of releases, although some major films underperformed [26] Group 5: Home Appliance and Electric Vehicle Industry - The electric two-wheeler market is expected to see growth driven by brand and channel advantages, with a projected increase in demand primarily from replacement sales [22][23] - The home appliance sector is focusing on expanding smart product offerings and enhancing international market presence, with significant revenue growth reported in smart home products [28] Group 6: Medical and Biopharmaceutical Sector - Companies like Xinhua Medical and Anjisi are showing steady growth, with Xinhua Medical reporting a slight increase in revenue and profit, while Anjisi's revenue grew by 25.14% in 2024 [36][38] - The biopharmaceutical sector is focusing on diversifying revenue streams and expanding into international markets, with significant growth expected in the coming years [35][40] Group 7: Investment Recommendations - Key recommendations include investing in leading coal enterprises like China Shenhua and Zhongmei Energy, as well as companies showing potential for recovery like Qinfa [19][20] - In the media sector, companies with strong content pipelines and market positions are recommended for investment [26]

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company has shown steady revenue growth, with a 2024 revenue of 1.509 billion yuan, representing an 8.76% year-on-year increase, and a net profit of 219 million yuan, up 13.98% year-on-year. The first quarter of 2025 also reflects positive growth, with revenue of 348 million yuan, a 12.60% increase year-on-year, and a net profit of 59 million yuan, up 17.25% year-on-year [1][2][3] Summary by Sections Financial Performance - In 2024, the domestic market faced short-term pressure due to policy disruptions, resulting in domestic sales revenue of 683 million yuan, a decrease of 5.39% year-on-year. However, overseas sales revenue reached 797 million yuan, an increase of 23.74% year-on-year, as inventory issues with major North American clients were resolved [2][3] - The company's gross margin for 2024 was 44.53%, with a decrease of 1.36 percentage points year-on-year. The selling expense ratio was 10.48%, down 0.93 percentage points, while the management expense ratio was 8.61%, down 1.02 percentage points [2] Growth Drivers - The company is accelerating its overseas localization strategy, with plans for a production base in Mexico and a second base in Southeast Asia by 2025. This will enhance its global service capabilities and meet international market demands [3] - The nursing segment has shown significant growth, with overseas sales of urology products increasing by 150% year-on-year, driven by the launch of new products [3] Future Projections - Revenue projections for 2025-2027 are 1.751 billion yuan, 2.052 billion yuan, and 2.414 billion yuan, respectively, with year-on-year growth rates of 16.0%, 17.2%, and 17.7%. Net profit forecasts for the same period are 264 million yuan, 318 million yuan, and 383 million yuan, with growth rates of 20.1%, 20.7%, and 20.6% [3][4]

Investment Rating - The investment rating for the company is "Buy" [5] Core Views - The company has shown steady revenue growth, with a 2024 revenue of 1.509 billion yuan, representing an 8.76% year-on-year increase, and a net profit of 219 million yuan, up 13.98% year-on-year. The growth in net profit outpaced revenue growth due to improved cost management and efficiency [1][2] - The domestic market is under short-term pressure due to policy disruptions, while the overseas market is recovering as inventory issues are resolved, leading to a significant increase in export revenue [2][3] - The company is accelerating its overseas localization strategy, with plans for new production bases to enhance global service capabilities and meet international market demands [3] Summary by Sections Financial Performance - In 2024, the company achieved a revenue of 1.509 billion yuan, a growth of 8.76% year-on-year, and a net profit of 219 million yuan, reflecting a 13.98% increase. The first quarter of 2025 saw revenue of 348 million yuan, up 12.60%, and a net profit of 59 million yuan, up 17.25% [1][4] - The gross margin for 2024 was 44.53%, with a slight decrease of 1.36 percentage points year-on-year. The sales expense ratio was 10.48%, down 0.93 percentage points, and the management expense ratio was 8.61%, down 1.02 percentage points [2] Market Dynamics - The domestic market faced challenges with a 5.39% decline in internal sales revenue, totaling 683 million yuan, while overseas sales revenue reached 797 million yuan, marking a 23.74% increase [2] - The company is expanding its overseas customer base, with significant growth in regions such as North America, Europe, and Southeast Asia, and plans to establish new production bases in Mexico and Southeast Asia [3] Future Projections - Revenue projections for 2025-2027 are estimated at 1.751 billion yuan, 2.052 billion yuan, and 2.414 billion yuan, respectively, with year-on-year growth rates of 16.0%, 17.2%, and 17.7%. Net profit is expected to reach 264 million yuan, 318 million yuan, and 383 million yuan, with growth rates of 20.1%, 20.7%, and 20.6% [3][4]

Summary of Weili Medical Conference Call Company Overview - **Company**: Weili Medical - **Date**: May 7, 2025 Key Points Industry and Company Developments - Weili Medical is enhancing its product competitiveness and gross margin through continuous product system upgrades, including new products in anesthesia and catheterization, such as visual double-lumen intubation and hydrophilic coated super-smooth catheters [2][3] - The company has implemented a marketing reform by integrating market channels and sales personnel, resulting in a reduction of marketing personnel from 373 to 308, while improving team efficiency. The marketing expense ratio decreased from 12.8% in 2021 to 10.5% in 2024, enhancing profitability [2][5] - To ensure supply chain stability, Weili Medical is expanding production in Zhaoqing and Mexico, increasing capacity and automation levels, mitigating geopolitical risks, and planning a second overseas production base in Southeast Asia [2][6] Financial Performance - The company's performance over the past two years was impacted by a decline in exports (due to inventory destocking by major North American clients) and a decrease in domestic sales (due to anti-corruption measures in domestic hospitals). However, domestic sales began to recover in Q2 2024, which is expected to improve industry operational order and competitive landscape in the long term [2][7] - Weili Medical's overseas business is gradually recovering, with a significant increase in gross margin attributed to the upgrade of export product systems and an increase in high-end product collaborations. Overseas gross margin improved from 27.1% in 2021 to 35.6% in 2024 [2][10] Product Development and R&D - The company has made significant progress in product upgrades and R&D investments, with R&D expenses increasing from 42 million yuan in 2019 to 111 million yuan in 2024, and the R&D expense ratio rising from 4.3% to 7.4%. The number of R&D personnel grew from 313 to 425, increasing their proportion from 13% to 15.4% [3] - New high-margin products have been introduced in the anesthesia and catheterization fields, contributing to improved overall gross margin and profitability [3][11] Domestic Market Dynamics - Despite a slowdown in growth due to anti-corruption measures, the gross margin remains stable, with profit growth significantly outpacing revenue growth. High-margin new products are expected to drive domestic revenue and gross margin [4][11] - The company has a low market share in several product categories, indicating substantial room for growth. For example, the gross margin for visual double-lumen intubation is 79%, while the overall gross margin for the anesthesia line is 57% [11][12] Overseas Market Strategy - Weili Medical is diversifying its overseas customer base to reduce revenue concentration risks. As of the first three quarters of 2024, North America accounted for 34% of export revenue, Europe 29%, Asia 13%, and South America 8% [4][14] - The company is transitioning from OEM to self-branded sales, with the proportion of self-branded sales increasing from 14% in 2022 to 19% in 2024 [13] Future Outlook - The outlook for Weili Medical remains optimistic, with strong core growth drivers including ongoing product upgrades, increased R&D investment, an efficient marketing team, and stable manufacturing layouts. The gradual reduction of anti-corruption impacts and the normalization of domestic operations are expected to support continued growth [8] - Profit forecasts for the company indicate a steady growth trajectory, with expected net profits of 260 million yuan, 320 million yuan, and 390 million yuan for 2025 to 2027, representing year-on-year growth rates of 20.3%, 20.8%, and 21.9% respectively [15]

Group 1: Company Performance - Wens Foodstuff's April chicken sales revenue was 2.543 billion yuan, a year-on-year decrease of 5.01% [1] - Wens Foodstuff sold 10.381 million chickens in April, a year-on-year increase of 10.87% [1] - Wens Foodstuff's average chicken selling price was 11.24 yuan/kg, a year-on-year decrease of 14.91% [1] - Zhongtong Bus's April vehicle sales volume was 1,046 units, a year-on-year decrease of 4.04% [1][2] - Kemin Food's April pig sales revenue reached 70.9048 million yuan, a year-on-year increase of 16.04% [3] - Muyuan Foods sold 6.573 million pigs in April, a year-on-year increase of 51.80% [5] - Muyuan Foods' pig sales revenue was 12.595 billion yuan in April, a year-on-year increase of 53.42% [5] - Xiamen Airport's April passenger throughput was 2.3881 million, a year-on-year increase of 7.73% [24] - Daqin Railway's April cargo transport volume was 30.62 million tons, a year-on-year increase of 0.99% [26] - Shaanxi Coal's April coal production was 14.24 million tons, a year-on-year decrease of 1.78% [28] Group 2: Industry Overview - Wens Foodstuff operates in the agriculture, forestry, animal husbandry, and fishery industry, specifically in pig farming [1] - Zhongtong Bus operates in the automotive industry, focusing on commercial vehicles [2] - Kemin Food operates in the food and beverage industry, specifically in food processing [3] - Muyuan Foods is also in the agriculture, forestry, animal husbandry, and fishery industry, focusing on pig farming [5] - Xiamen Airport is part of the transportation industry, specifically in airport operations [24] - Daqin Railway operates in the coal industry, focusing on coal mining and transportation [26] - Shaanxi Coal is also in the coal industry, focusing on coal mining and related services [28]

证券代码：603309 证券简称：维力医疗 公告编号：2025-032 广州维力医疗器械股份有限公司 关于公司产品获得二类医疗器械注册证的公告 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。 广州维力医疗器械股份有限公司（以下简称"公司"）于近日收到广东省药品 监督管理局颁发的《中华人民共和国医疗器械注册证》，具体情况如下： 结构及组成：由下段弧形输尿管支架、助推管、导丝组成。 适用范围：通过对人体输尿管进行支撑和引流，用于治疗输尿管堵塞和狭窄。 留置时间不超过30天。 批准日期：2025年05月06日 有效期至：2030年05月05日 一、医疗器械注册证的具体情况 产品名称：一次性使用下段弧形输尿管支架 注册证编号：粤械注准 20252140644 注册人名称：广州维力医疗器械股份有限公司 注册人住所：广州市番禺区化龙镇金湖工业城 C 区 4 号 生产地址：广州市番禺区化龙镇国贸大道南 45 号、47 号 二、同类产品相关情况 根据国家药品监督管理局官网数据查询了解到的信息，截至目前，国内只有 1 家厂家取得同类产品的医疗器 ...

广州维力医疗器械股份有限公司 2024 年年度股东大会 会 议 资 料 2025 年 5 月 15 日 1 目 录 | 一、2024 | 年年度股东大会会议议程 3 | | --- | --- | | 二、2024 | 年年度股东大会会议须知 5 | | 三、2024 | 年年度股东大会会议议案 6 | 2 议案一、《公司 2024 年年度报告全文及其摘要》 议案二、《公司 2024 年度董事会工作报告》 议案三、《公司 2024 年度监事会工作报告》 议案四、《公司 2024 年度财务决算和 2025 年度财务预算报告》 议案五、《公司 2024 年度利润分配预案》 议案六、《关于公司 2024 年度董事薪酬的议案》 议案七、《关于公司 2024 年度监事薪酬的议案》 议案八、《关于公司向银行申请综合授信额度的议案》 议案九、《关于公司向全资子公司提供担保额度的议案》 议案十、《关于 2025 年度续聘会计师事务所的议案》 议案十一、《关于增加经营地址暨修改<公司章程>的议案》 广州维力医疗器械股份有限公司 2024 年年度股东大会会议议程 会议时间：2025 年 5 月 15 日（星期四）下午 14 点 ...

Major Events - *ST Huaron plans to acquire 34% stake in Zhejiang Zhuangchen for 19.728 million yuan, increasing its ownership from 51% to 85%, which will optimize the asset structure and promote business development [3][4] - Huazhi Media's film "Dumpling Queen" has grossed approximately 218 million yuan in ticket sales within six days of release, exceeding 50% of the company's audited revenue for the last fiscal year [5][6] - Shanghai International Group intends to transfer 339 million shares of Shanghai International Port Group to Jiushi Group without compensation, which will not change the major shareholder or actual controller [6] - Weili Medical's subsidiary received EU MDR certification for portable infusion pumps and disposable storage boxes, enhancing market access in Europe [7] - Guoxin Technology successfully tested a new quantum-resistant chip, AHC001, based on domestic 28nm process technology [8] Performance Overview - Tianbang Foods reported April sales of 470,900 pigs, generating revenue of 691 million yuan, with a sales price of 16.29 yuan/kg, showing a month-on-month decline [9] - Weisheng Information won a procurement project from State Grid Hebei Electric Power Company worth 15.4587 million yuan, representing 0.56% of the company's audited revenue for 2024 [10] - Hanma Technology's truck sales in April reached 1,127 units, marking a year-on-year increase of 56.96% [11] - Western Pastoral's fresh milk production in April increased by 0.47% year-on-year, totaling 3,024.95 tons [12] - Xiangyuan Cultural Tourism reported a 50.47% year-on-year increase in revenue during the May Day holiday, with 623,600 visitors [13] Major Contracts - Zhongli Co. signed a strategic cooperation framework agreement with Jungheinrich AG to promote electrification in the global material handling industry [14] - Far East Holdings received contracts worth 2.646 billion yuan in April for projects exceeding 10 million yuan [15] - Haoen Automotive received a designated letter from a leading new energy vehicle brand for radar and camera systems, with an estimated total revenue of 619 million yuan over 3-6 years [16] - Aopu Optoelectronics signed a contract for an optical system development worth 297 million yuan, accounting for 39.84% of the company's audited revenue for 2024 [17] - Zhonghua Rock and Soil's subsidiary won a bid for a 181 million yuan engineering project [18] Shareholding Changes - Linglong Tire's controlling shareholder plans to increase its stake in the company by 200 million to 300 million yuan within six months [19] Stock Buyback - Tiantong Co. secured a loan commitment of up to 45 million yuan for stock buyback purposes [20]