Group 1 - The company Tianchen Medical announced on September 1 that it has repurchased a total of 2,505,324 shares through centralized bidding, which accounts for 3.09% of the company's total share capital [2]

Summary of Key Points Core Viewpoint - Tianchen Medical (SH 688013) announced a share buyback program, indicating a commitment to enhancing shareholder value through capital return strategies [1]. Company Performance - As of August 31, 2025, the company has repurchased approximately 2.51 million shares, representing 3.09% of its total share capital [1]. - The highest repurchase price was 21 CNY per share, while the lowest was 11.87 CNY per share, with a total expenditure of approximately 42.5 million CNY [1]. - For the fiscal year 2024, the company's revenue composition shows that medical devices accounted for 99.99% of total revenue, with other businesses contributing only 0.01% [1]. - The current market capitalization of Tianchen Medical is 4.7 billion CNY [1].

Group 1 - The company Tianchen Medical (688013.SH) announced that it has not conducted any repurchase transactions as of August 2025 [1] - As of August 31, 2025, the company has cumulatively repurchased 2,505,324 shares, representing 3.09% of the total share capital [1] - The highest repurchase price was 21.00 CNY per share, while the lowest was 11.87 CNY per share, with a total expenditure of approximately 42.5 million CNY (excluding stamp duty and transaction commissions) [1]

证券代码：688013 证券简称：天臣医疗 公告编号：2025-052 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 月 日 2023 27 12 | 12 | 日~2025 | 年 | 月 | 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 ...

Investment Rating - The report provides a positive outlook on the MASH non-invasive diagnosis technology, suggesting it could accelerate new drug development in the pharmaceutical and biotechnology sector [2]. Core Insights - The pharmaceutical and biotechnology sector experienced a decline of 0.65% from August 25 to August 29, underperforming compared to the Wind All A index (1.9%) and the CSI 300 index (2.71%). Only the medical research outsourcing (4.9%) and other biological products (0.14%) sectors saw gains, while in vitro diagnostics (-4.12%), raw materials (-3.34%), and vaccines (-0.59%) faced significant declines [2][7]. - The FDA has accepted the proposal for using VCTE-LSM as a reasonable alternative endpoint for clinical trials in adults with MASH and moderate to advanced fibrosis. This non-invasive method is expected to enhance patient compliance and could lead to a surge in drug development in the MASH area within the next two to three years [2][13]. - The report emphasizes the potential for domestic companies in China to leverage their cost advantages and forward-looking strategies in the field of non-invasive companion diagnostics, particularly in the MASH drug development competition [2]. Market Weekly Review - The pharmaceutical and biotechnology sector's performance was notably weaker than the broader market indices, with specific sub-sectors like medical research outsourcing and other biological products showing resilience [7][8]. - Individual stocks such as Tianchen Medical (30.1%), Ailis (25.6%), and Maiwei Biotech-U (22.4%) performed well, while stocks like Lifang Pharmaceutical (-13.9%), Yuekang Pharmaceutical (-11.9%), and Kanghua Biotech (-11.1%) faced significant losses [10][12]. Industry News and Key Company Announcements - On August 28, Kangfang Biotech announced that its drug AK112 received approval for treating advanced non-squamous non-small cell lung cancer, with promising clinical trial results expected to be presented at an international conference [12]. - The report highlights various companies' financial performances, with notable revenue changes and profit margins, indicating a mixed outlook across the sector [16][17].

截至2025年8月29日收盘，天臣医疗（688013）报收于55.9元，较上周的42.66元上涨31.04%。本周，天 臣医疗8月29日盘中最高价报56.68元，股价触及近一年最高点。8月25日盘中最低价报43.02元。天臣医 疗当前最新总市值45.37亿元，在医疗器械板块市值排名83/126，在两市A股市值排名3561/5152。 本周关注点 股本股东变化 2025年第三次临时股东会将于2025年9月12日召开，采用现场与网络投票结合方式，股权登记日为2025 年9月5日。会议审议《关于公司续聘2025年度审计机构的议案》和《关于公司2025年半年度利润分配方 案的议案》。 截至2025年6月30日，公司股东户数为4148.0户，较3月31日减少295.0户，减幅为6.64%。户均持股数量 由上期的1.83万股增加至1.96万股，户均持股市值为57.19万元。 业绩披露要点 2025年中报显示，公司主营收入1.56亿元，同比上升17.66%；归母净利润4821.16万元，同比上升 67.1%；扣非净利润4428.64万元，同比上升71.48%。2025年第二季度单季度主营收入9032.22万元，同 比上升2 ...

Core Viewpoint - Tianchen Medical (688013) has shown a positive performance with a closing price of 50.8 yuan, reflecting a 1.6% increase as of August 27, 2025, amidst varying capital flows [1][2]. Financial Performance - The company reported a main revenue of 156 million yuan for the first half of 2025, representing a year-on-year increase of 17.66% [4]. - The net profit attributable to shareholders was 48.21 million yuan, up 67.1% year-on-year [4]. - The second quarter of 2025 saw a single-quarter main revenue of 90.32 million yuan, a 24.56% increase year-on-year, and a net profit of 35.02 million yuan, which is a 100.15% increase year-on-year [4]. Capital Flow Analysis - On August 27, 2025, the net outflow of main funds was 3.56 million yuan, accounting for 1.62% of the total transaction amount, while retail funds saw a net outflow of 495,300 yuan [1]. - Over the past five days, the financing balance increased to 128 million yuan, with a net financing purchase of 7.23 million yuan on August 27 [2]. Industry Comparison - Tianchen Medical's total market value is 4.123 billion yuan, significantly lower than the industry average of 12.081 billion yuan, ranking 89th out of 123 in the medical device industry [4]. - The company's net profit margin stands at 30.87%, which is considerably higher than the industry average of 11.01%, ranking 14th in the industry [4]. - The company's gross margin is 63.03%, surpassing the industry average of 51.64%, ranking 44th in the industry [4].

Company Performance - In the first half of 2025, the company achieved revenue of 156 million yuan, representing a year-on-year growth of 17.66% [1] - The net profit attributable to shareholders was 48.21 million yuan, with a year-on-year increase of 67.10% [1] R&D and Product Development - The company focuses on key surgical procedures, with core products including various types of surgical staplers and support products, addressing clinical needs such as tissue separation, excision, organ function reconstruction, and intraoperative hemostasis [2] - The main revenue driver is the minimally invasive endoscopic products, which include disposable endoscopic cutting staplers and electric endoscopic cutting staplers, widely used in various minimally invasive surgeries [2] - R&D investment reached 18.89 million yuan in the first half of 2025, up 21.34% year-on-year, with R&D expenditure accounting for 12.10% of revenue [2] - The company applied for 11 new patents globally and received 53 new patent authorizations, including 44 core technology invention patents [2] Product Pipeline and Market Expansion - The company is accelerating its layout around "ultra-minimally invasive + intelligent" dual lines, with products like the "TSN electric stapler" already registered in two overseas countries [3] - The "third-generation endoscopic cutting stapler and nail warehouse" has completed multiple rounds of testing and is about to enter the registration process [3] - The company is also advancing its smart surgical platform project, which has made significant progress in key technologies and is entering the first product release and industrialization phase [3] Industry Outlook - The global medical device market is projected to reach 623 billion USD by 2024, with a compound annual growth rate (CAGR) of 6.9% from 2019 to 2024, and expected to grow to 869.7 billion USD by 2030 [4] - The demand for minimally invasive and robotic surgeries is driving significant growth in the surgical instrument sector, with the company well-positioned to benefit from this trend due to its technological and patent advantages [4] Strategic Initiatives - The company is enhancing its domestic and overseas dual-drive strategy, ensuring stable supply of selected products under national procurement policies while dynamically assessing market competition [5] - The company plans to issue a high dividend payout, distributing 5 yuan per 10 shares, totaling 40.33 million yuan, which accounts for 83.66% of the net profit attributable to shareholders for the first half of the year [5][6]

Group 1 - Aofei Data achieved a net profit of 87.89 million yuan in the first half of 2025, a year-on-year increase of 16.09% [1] - Aofei Data's revenue for the same period was 1.148 billion yuan, up 8.20% year-on-year [1] - The company specializes in IDC services, internet business, system integration, and distributed photovoltaic energy-saving services [1] Group 2 - Meilan De reported a net profit of 63.92 million yuan, a year-on-year decrease of 11.96% [1] - The company's revenue was 241 million yuan, reflecting a growth of 5.62% year-on-year [1] - Meilan De focuses on the research, production, sales, and service of medical devices related to pelvic and obstetric rehabilitation [1] Group 3 - Jiuan Medical posted a net profit of 920 million yuan, a significant year-on-year increase of 52.91% [1] - The company's revenue decreased by 43.35% to 765 million yuan [1] - Jiuan Medical specializes in the research, production, and sales of home medical devices [2] Group 4 - Hanbang Technology's net profit fell by 26.24% to 27.80 million yuan [2] - The company achieved a revenue of 349 million yuan, a growth of 5.99% year-on-year [2] - Hanbang Technology provides professional separation and purification equipment, consumables, and technical solutions for the pharmaceutical and life sciences sectors [2] Group 5 - Jinjing Environment reported a net profit of 78.69 million yuan, a year-on-year increase of 13.73% [2] - The company's revenue was 782 million yuan, reflecting a growth of 1.70% [2] - Jinjing Environment focuses on investment operation management services and equipment manufacturing in the environmental sanitation sector [2] Group 6 - Tianbao Infrastructure achieved a net profit of 118 million yuan, a remarkable year-on-year increase of 2106.58% [3] - The company's revenue decreased by 8.31% to 486 million yuan [3] - Tianbao Infrastructure is involved in real estate development, property leasing, and management [4] Group 7 - Weihuaxin Materials reported a net profit of 83.15 million yuan, a year-on-year decrease of 52.91% [5] - The company's revenue was 437 million yuan, down 30.71% year-on-year [5] - Weihuaxin Materials specializes in the research and production of chlorotoluene and trifluoromethylbenzene products [5] Group 8 - Tianchen Medical posted a net profit of 48.21 million yuan, a year-on-year increase of 67.10% [6] - The company's revenue was 156 million yuan, reflecting a growth of 17.66% [6] - Tianchen Medical focuses on the research, innovation, and production of high-end surgical staplers [6] Group 9 - Greenland Holdings reported a net loss of 3.506 billion yuan in the first half of 2025 [8] - The company's revenue was 9.45 billion yuan, down 18.06% year-on-year [8] - Greenland Holdings is involved in various financial services including securities, futures, and trust [8] Group 10 - Wukuang Capital's net profit decreased by 41.47% to 525 million yuan [9] - The company achieved a total revenue of 623 million yuan, a significant increase of 144.86% [9] - Wukuang Capital operates in the financial sector, providing services such as securities and leasing [9] Group 11 - Yutong Technology reported a net profit of 554 million yuan, a year-on-year increase of 11.42% [10] - The company's revenue was 7.876 billion yuan, reflecting a growth of 7.10% [10] - Yutong Technology specializes in the research, design, production, and sales of paper packaging products [10] Group 12 - Wewei Co. posted a net profit of 120 million yuan, a year-on-year decrease of 20.14% [11] - The company's revenue was 1.521 billion yuan, down 12.76% year-on-year [11] - Wewei Co. focuses on the production and sales of various food and beverage products [11] Group 13 - Tongfang Co. reported a net loss of 256 million yuan in the first half of 2025 [12] - The company's revenue was 5.667 billion yuan, down 10.09% year-on-year [12] - Tongfang Co. is engaged in the development of smart technology and nuclear technology applications [12] Group 14 - Liugang Co. achieved a net profit of 368 million yuan, a year-on-year increase of 579.54% [13] - The company's revenue was 34.675 billion yuan, down 8.32% [13] - Liugang Co. specializes in coke, sintering, iron, steel smelting, and steel processing [13] Group 15 - China National Petroleum Corporation reported a net profit of 83.993 billion yuan, with a proposed dividend of 0.22 yuan per share [14] - The company's revenue was 1.45 trillion yuan, down 6.7% year-on-year [14] - The company is involved in oil and gas exploration, production, refining, and sales [14] Group 16 - Fangda Carbon's net profit decreased by 68.31% to 54.53 million yuan [15] - The company's revenue was 1.690 billion yuan, down 28.13% year-on-year [15] - Fangda Carbon specializes in the research, production, and sales of graphite and carbon materials [15] Group 17 - Xinmai Medical reported a net profit of 31.5 million yuan, a year-on-year decrease of 22.03% [18] - The company's revenue was 714 million yuan, down 9.24% year-on-year [18] - Xinmai Medical focuses on the research, production, and sales of vascular intervention medical devices [18] Group 18 - Hengbao Co. posted a net profit of 35.35 million yuan, a year-on-year decrease of 44.41% [19] - The company's revenue was 430 million yuan, down 8.64% year-on-year [19] - Hengbao Co. specializes in high-end intelligent products and digital security solutions [19] Group 19 - Zhongji Xuchuang reported a net profit of 3.995 billion yuan, a year-on-year increase of 69.40% [20] - The company's revenue was 14.789 billion yuan, reflecting a growth of 36.95% [20] - Zhongji Xuchuang specializes in high-end optical communication modules and devices [20] Group 20 - Guangxian Media achieved a net profit of 2.229 billion yuan, a year-on-year increase of 371.55% [21] - The company's revenue was 3.242 billion yuan, up 143.00% year-on-year [21] - Guangxian Media focuses on investment, production, and distribution of film projects [21] Group 21 - Huarun Pharmaceutical reported a net profit of 37.33 million yuan, a year-on-year decrease of 49.01% [23] - The company's revenue was 624 million yuan, down 19.13% year-on-year [23] - Huarun Pharmaceutical specializes in pharmaceuticals, medical devices, and health products [23] Group 22 - Huawai Technology posted a net profit of 12.7 million yuan, a year-on-year increase of 56.18% [24] - The company's revenue was 937 million yuan, reflecting a growth of 32.62% [24] - Huawai Technology focuses on the research, production, and sales of high-end elastic components [24]

公司最新总资产周转率为0.24次，在已披露的同业公司中排名第15，较去年同期总资产周转率增加0.04次，同比较去年同期上涨17.61%。最新存货周转率为 1.59次，在已披露的同业公司中排名第16。 公司股东户数为4148户，前十大股东持股数量为4713.21万股，占总股本比例为58.08%，前十大股东持股情况如下： 公司最新毛利率为63.04%，在已披露的同业公司中排名第24，较上季度毛利率增加4.58个百分点，较去年同期毛利率增加5.00个百分点，实现2年连续上 涨。最新ROE为8.39%，在已披露的同业公司中排名第8，较去年同期ROE增加3.58个百分点。 公司摊薄每股收益为0.60元，在已披露的同业公司中排名第17，较去年同报告期摊薄每股收益增加0.24元，实现3年连续上涨，同比较去年同期上涨 66.67%。 2025年8月27日，天臣医疗(688013.SH)发布2025年中报。 公司营业总收入为1.56亿元，较去年同报告期营业总收入增加2343.50万元，实现5年连续上涨，同比较去年同期上涨17.66%。归母净利润为4821.16万元，较 去年同报告期归母净利润增加1936.03万元，实现3年连续 ...