Company Overview - Tianchen Medical closed at 32.75 yuan, up 2.99%, with a rolling PE ratio of 49.47, marking a new low in 1103 days, and a total market value of 2.658 billion yuan [1] - The company specializes in the research, innovation, production, and sales of high-end surgical anastomosis devices, including various types of endoscopic and linear cutting anastomosis devices [1] - As of the first quarter of 2025, seven institutions held shares in Tianchen Medical, with a total holding of 4.481 million shares valued at 0.85 million yuan [1] Financial Performance - For the first quarter of 2025, Tianchen Medical reported revenue of 65.8461 million yuan, a year-on-year increase of 9.34%, and a net profit of 13.1867 million yuan, up 16.16%, with a gross profit margin of 58.46% [1] Industry Comparison - The average PE ratio for the medical device industry is 52.06, with a median of 37.22, placing Tianchen Medical at the 87th position within the industry [1] - The industry average PE ratio is 52.06, while the median is 37.22, indicating that Tianchen Medical's PE ratio is below the industry average but above the median [2]

Group 1 - The National Health Commission of China has issued notifications prohibiting the use of "ileal-jejunal anastomosis" for the treatment of type 2 diabetes and "cervical deep lymphatic vessel/lymph node-venous anastomosis" for Alzheimer's disease treatment [2][3] - The cervical deep lymphatic vessel/lymph node-venous anastomosis is primarily used for treating stubborn lymphedema, but its application for Alzheimer's disease lacks clear indications and contraindications, as well as high-quality evidence supporting its safety and efficacy [2] - The ileal-jejunal anastomosis, used for restoring intestinal continuity, has been deemed to lack foundational theoretical support and high-quality evidence for its safety and efficacy in treating type 2 diabetes [3] Group 2 - The domestic anastomosis device market may be impacted by these prohibitions, with the top 10 manufacturers in China including Johnson & Johnson, Covidien, Frankmann, Yisi Medical, Tianchen Medical, Palt Medical, David Medical, Rich Surgical, Yintukang Medical, and Brolansense [3] - Relevant listed companies in this sector include Dongxing Medical and Tianchen Medical, which may face challenges due to the new regulations [3]

Core Viewpoint - Tianchen Medical (688013) has shown a positive stock performance with a closing price of 30.74 yuan, up 2.5% as of July 7, 2025, indicating a potential upward trend in investor sentiment [1] Financial Performance - The company reported a main revenue of 65.84 million yuan for Q1 2025, representing a year-on-year increase of 9.34% - The net profit attributable to shareholders was 13.19 million yuan, up 16.16% year-on-year - The net profit after deducting non-recurring gains and losses was 11.07 million yuan, with a slight increase of 0.5% year-on-year - The company's debt ratio stands at 13.25%, with investment income of 1.32 million yuan and financial expenses of -2.77 million yuan - The gross profit margin is reported at 58.46% [4] Market Position - Tianchen Medical's total market capitalization is 2.495 billion yuan, significantly lower than the industry average of 10.66 billion yuan, ranking 110 out of 122 in the medical device industry - The company's net assets are 572 million yuan, compared to the industry average of 3.919 billion yuan, ranking 114 out of 122 - The net profit of 13.19 million yuan ranks 77 out of 122 in the industry, while the price-to-earnings ratio (P/E) is 47.3, lower than the industry average of 57.66, ranking 58 out of 122 - The price-to-book ratio (P/B) is 4.69, higher than the industry average of 3.47, ranking 97 out of 122 - The company's net profit margin is 20.03%, significantly higher than the industry average of 10.86%, ranking 35 out of 122 - Return on equity (ROE) is reported at 2.38%, compared to the industry average of 1.01%, ranking 33 out of 122 [4] Capital Flow - On July 7, 2025, the net inflow of main funds was 104,200 yuan, accounting for 0.17% of the total transaction amount, while retail investors saw a net inflow of 1.68 million yuan, representing 2.76% of the total transaction amount - Over the past five days, the stock has experienced fluctuations in capital flow, with notable net outflows from speculative funds [1][2]

截至2025年7月4日收盘，天臣医疗（688013）报收于29.99元，较上周的27.31元上涨9.81%。本周，天 臣医疗7月4日盘中最高价报31.96元，股价触及近一年最高点。6月30日盘中最低价报27.47元。天臣医疗 当前最新总市值24.34亿元，在医疗器械板块市值排名115/126，在两市A股市值排名4712/5149。 公司于2025年7月3日完成2023年限制性股票激励计划第二个归属期的股份登记工作。本次归属股票数量 为556,000股，来源于公司从二级市场回购的A股普通股股票，归属人数为89人。公司实际收到89名激励 对象缴纳的资本总额共计人民币5,977,000.00元。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 天臣国际医疗科技股份有限公司于2023年12月27日开始实施股份回购计划，回购资金总额逐步调整为不 低于4600万元，不超过8000万元，回购期限延长至2025年12月26日。截至2025年6月30日，公司已累计 回购股份2505324股，占公司总股本的3.09%，支付的资金总额约为4249.89万 ...

证券代码：688013 证券简称：天臣医疗 公告编号：2025-046 天臣国际医疗科技股份有限公司 关于 2022 年限制性股票激励计划首次及预留授予部分 第三个归属期归属结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 本次归属股票数量：189,006 股，其中首次授予部分 155,406 股，预留授 予部分 33,600 股 根据中国证券监督管理委员会、上海证券交易所、中国证券登记结算有限责 任公司相关业务规定，天臣国际医疗科技股份有限公司（以下简称"公司"）于 2025 年 7 月 3 日收到中国证券登记结算有限责任公司出具的《过户登记确认书》， 公司完成了 2022 年限制性股票激励计划（以下简称"本次激励计划"）首次及预 留授予部分第三个归属期的股份登记工作。现将有关情况公告如下： 一、本次限制性股票归属的决策程序及相关信息披露 1、2022 年 5 月 5 日，公司召开第一届董事会第二十二次会议，会议审议通 过了《关于<公司 2022 年限制性股票激励计划（草案）>及其摘要的议案》《关 ...

第二个归属期归属结果公告 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、准确性和完整性依法承担法律责任。 重要内容提示： 天臣国际医疗科技股份有限公司 关于 2023 年限制性股票激励计划 本次归属股票数量：556,000 股 证券代码：688013 证券简称：天臣医疗 公告编号：2025-045 1、2023 年 4 月 11 日，公司召开第二届董事会第三次会议，会议审议通过 了《关于公司<2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于 公司<2023 年限制性股票激励计划实施考核管理办法>的议案》以及《关于提请 公司股东大会授权董事会办理股权激励相关事宜的议案》等议案。公司独立董事 就本次激励计划相关议案发表了同意的独立意见。 同日，公司召开第二届监事会第二次会议，审议通过了《关于公司<2023 年 限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2023 年限制性股 票激励计划实施考核管理办法>的议案》以及《关于核实公司<2023 年限制性股 票激励计划激励对象名单>的议案》，公司监事会对本次激励计划的相关事项进 行核实并出 ...

证券代码：688013 证券简称：天臣医疗 公告编号：2025-044 天臣国际医疗科技股份有限公司 关于股份回购进展公告 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： | 回购方案首次披露日 | 2023/12/28，由董事长、控股股东及实际控制人之 | | | | | | | --- | --- | --- | --- | --- | --- | --- | | | 一陈望宇先生提议 | | | | | | | 回购方案实施期限 | 年 12 月 12 月 日 | 2023 | 27 | 日~2025 | 年 | 26 | | 预计回购金额 | 4,600万元~8,000万元 | | | | | | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 □用于转换公司可转债 | | | | | | | | □为维护公司价值及股东权益 | | | | | | | 累计已回购股数 | 2,505,324股 | | | | | | | 累计已回购股数占总股本比例 | 3.09% | | | | | | ...

Core Viewpoint - Tianchen Medical has announced adjustments to its 2022 restricted stock incentive plan, including a reduction in the grant price and the cancellation of certain unvested shares due to the departure of two incentive recipients [1][9][11] Summary by Sections Decision Process and Disclosure - The company held a board meeting on May 5, 2022, to approve the draft of the restricted stock incentive plan and related proposals, with independent directors expressing their agreement [2][3] - The company disclosed the plan on the Shanghai Stock Exchange on May 6, 2022, and conducted a public notice period for the incentive recipients from May 9 to May 18, 2022, with no objections received [3][4] Adjustments and Results - The adjusted grant price for the restricted stock is set at RMB 10.55 per share, down from RMB 12.05 per share, following a calculation that accounts for cash dividends distributed to shareholders [8][9] - The company will cancel 4,400 shares of restricted stock that were granted but not vested due to the departure of two incentive recipients [9][11] Impact on the Company - The adjustments to the grant price and the cancellation of shares are not expected to have a material impact on the company's financial status or operational results, nor will they affect the stability of the core team or the implementation of the incentive plan [9][11] Opinions from Committees - The Board's Compensation and Assessment Committee supports the adjustments, stating they comply with relevant laws and regulations, and do not harm the interests of the company or its shareholders [10][11] Legal Opinions - Legal counsel confirms that the adjustments and cancellations have received necessary approvals and comply with applicable regulations, ensuring no adverse effects on the company's financial health or incentive plan execution [11]

Core Viewpoint - The legal opinion letter from Shanghai Junlan Law Firm confirms that Tianchen International Medical Technology Co., Ltd. has complied with relevant regulations regarding the adjustment, cancellation, and vesting of its restricted stock incentive plan, ensuring that these actions do not materially impact the company's financial status or operational results [1][17]. Group 1: Approval and Authorization - The adjustments, cancellations, and vesting of the restricted stock incentive plan have received necessary approvals and authorizations from the company's board and shareholders, in accordance with the relevant management measures and regulations [3][16]. - The company has provided all necessary documents to the law firm, ensuring their authenticity and completeness, which supports the legal opinion issued [2]. Group 2: Adjustment Details - The adjustment of the grant price for the restricted stock was necessitated by the company's profit distribution plans, which included cash dividends of RMB 5.00 per 10 shares for the years 2024 and 2025 [6][7]. - The adjusted grant price for the restricted stock is set at RMB 10.75 per share, down from the previous price of RMB 12.25 per share, after accounting for the cash dividends [8][9]. Group 3: Cancellation and Vesting - A total of 168,000 shares of restricted stock were canceled due to the departure of 8 incentive recipients, who no longer qualify for the incentive program [9][10]. - The second vesting period for the incentive plan is from April 28, 2025, to April 27, 2026, with specific performance targets set for the company and individual recipients to meet [11][12]. - The company has met the performance criteria for the second vesting period, allowing 89 recipients to vest a total of 556,000 shares at the adjusted price [14][17]. Group 4: Information Disclosure - The company is required to disclose relevant information regarding the adjustments, cancellations, and vesting of the incentive plan in accordance with applicable regulations [15][16]. - The law firm confirms that the company has fulfilled its current information disclosure obligations and will continue to do so as required [15][17].

天臣国际医疗科技股份有限公司董事会薪酬与考核委员会 第三个归属期归属名单的核查意见 除 2 名激励对象因个人原因离职外，公司本次拟归属的首次授予部分 34 名 激励对象及预留授予部分 8 名激励对象均符合《公司法》《证券法》等法律、法 规和规范性文件及《公司章程》规定的任职资格，符合《管理办法》 《上市规则》 关于 2022 年限制性股票激励计划首次及预留授予部分 天臣国际医疗科技股份有限公司（以下简称"公司"）董事会薪酬与考核委 员会依据《中华人民共和国公司法》 （以下简称"《公司法》"）、 《中华人民共和 国证券法》（以下简称"《证券法》"）、《上市公司股权激励管理办法》（以下简称 "《管理办法》"）、《上海证券交易所科创板股票上市规则》（以下简称"《上市规 则》"）、《科创板上市公司自律监管指南第 4 号——股权激励信息披露》（以下 简称"《自律监管指南》"）等相关法律、法规及规范性文件和《天臣国际医疗 （以下简称"《公司章程》"）的有关规定，对公司 2022 科技股份有限公司章程》 年限制性股票激励计划（以下简称"本激励计划"）首次及预留授予部分第三个 归属期的归属名单进行了审核，发表核查意见如下： ...