行业主要上市公司：国瓷材料(300285.SZ)、威高骨科(688161.SH)、昊海生科(688366.SH)、乐普医疗 (300003.SZ)、蓝帆医疗(002382.SZ)、心脉医疗(688016.SH)等 中国生物医用材料行业上游细分材料结构 2022年，中国生物医用材料行业上游细分材料结构中，金属材料和高分子材料占比相对较高。基于行业 趋势，2024年生物医用材料细分市场中，复合材料因3D打印等技术应用、生物衍生材料因医美需求激 增份额上升，金属材料、高分子材料、医用陶瓷受替代效应或市场竞争影响份额微降。 图表5：2024年中国生物医用材料行业上市企业竞争梯队-按相关业务营收规模(单位：亿元) 图表2：2022-2024年中国生物医用材料行业上游细分材料结构(单位：%) 生物医用材料上市企业业务布局对比 中国生物医用材料行业企业竞争梯队 根据生物医用材料行业上市企业披露的相关业务营收规模可将企业竞争划分为三个梯队，第一梯队企业 生物医用材料业务收入高于20亿元，代表性企业包括乐普医疗、昊海生科、大博医疗等;第二梯队企业 生物医用材料业务收入介于10-20亿元之间，代表性企业包括威高骨科、心脉医疗、蓝 ...

Group 1: Company Insights - E Fund recently conducted research on seven listed companies, highlighting significant growth in revenue for Yuanjie Technology, particularly in the demand for 400G/800G optical modules, with expectations for substantial growth in the second half of 2025 [1] - Weisi Medical's lower limb exoskeleton device has been included in the medical insurance directory, and its electrical stimulation products are primarily used in obstetrics and gynecology departments [1] - Dekoli experienced rapid growth in computing power demand but faced challenges with capacity and supply chain resources, leading to insufficient order fulfillment [1] - Ningbo Jingda's performance was slightly impacted by international trade factors, but it saw a double-digit growth in orders in the second quarter, with a 70% increase in export orders after acquiring Wuxi Micro Research [2] - Xinmai Medical reported a revenue of 714 million yuan and a net profit of 315 million yuan, with overseas revenue growing over 95% [3] - Kehua Data achieved a revenue of 3.733 billion yuan, with a 0.06% year-on-year growth, and a 16.77% increase in data center business revenue [4] Group 2: Industry Trends - The demand for high-power CW light sources and high-speed EML technology is increasing, with companies focusing on core technology breakthroughs and maintaining high gross profit margins [1] - The integration of advanced technologies in manufacturing, such as high-frequency pipe-making and rolling machines, is being pursued to promote import substitution in the industry [2] - The development of new energy solutions, including 2000V450kW inverters, is being accelerated to serve various sectors, including state-owned enterprises [3] - The semiconductor industry is facing challenges with high R&D investments and increased financial costs, impacting profitability for companies like Dongxin [5]

调研纪要：报告期内，公司实现营业收入7.14亿元，净利润3.15亿元，拟每10股派现13.00元(含税)，总 额1.57亿元。Cratos于3月国内上市，挂网价低于10万元，推广进度超预期；Hector获欧盟定制证书，在 欧洲多国完成临床植入，获医生认可。研发投入预计今年约10%，未来维持在10%-15%。海外收入同比 增长超95%，占比达17%，主因并表Lombard及自身增长，覆盖45国，计划明年达60国。Talos、 Cratos、Fontus等高毛利产品将陆续出海。 恒生前海基金成立于2016年，截至目前，资产管理规模(全部公募基金)164.7亿元，排名126/210；资产 管理规模(非货币公募基金)164.68亿元，排名109/210；管理公募基金数54只，排名100/210；旗下公募基 金经理7人，排名126/210。旗下最近一年表现最佳的公募基金产品为恒生前海高端制造混合A，最新单 位净值为0.96，近一年增长89.37%。旗下最新募集公募基金产品为恒生前海瑞丰混合A，类型为混合型- 偏股，集中认购期2025年8月18日至2025年9月5日。 1)心脉医疗(恒生前海基金参与公司2025年半年度业 ...

Group 1: Dekoli - The company is experiencing rapid growth in computing power demand, but faces challenges with insufficient production capacity and supply chain resources, leading to order delivery issues [1] - Revenue from data communication products is increasing, with access and data products accounting for nearly 40% of total revenue; however, telecom business revenue has decreased by approximately 8% year-on-year [1] - A new factory is expected to be operational in the second half of the year, which is anticipated to improve the situation; OCS products have received orders worth millions [1] - The company's factory in Thailand is projected to start production after the 2026 Spring Festival, with some clients already certified [1] - The company emphasizes enhancing core competitiveness to address uncertainties in tariff policies [1] Group 2: Xinmai Medical - The company reported a revenue of 714 million yuan and a net profit of 315 million yuan during the reporting period, with a proposed cash dividend of 1.3 yuan per share, totaling 157 million yuan [1] - The Cratos product was launched domestically in March, with a listing price below 100,000 yuan, and its promotion is exceeding expectations; Hector has received custom certification in the EU and has completed clinical implants in multiple countries [1] - Research and development investment is expected to be around 10% this year, maintaining a range of 10%-15% in the future [1] - Overseas revenue has increased by over 95% year-on-year, accounting for 17% of total revenue, primarily due to the consolidation of Lombard and organic growth, with plans to expand coverage from 45 to 60 countries next year [1] - High-margin products such as Talos, Cratos, and Fontus are set to be launched internationally [1] Group 3: Green Fund - Green Fund was established in 2016, with total assets under management of 25.643 billion yuan, ranking 110 out of 210 in public funds [2] - The fund has 61 public funds under management, ranking 91 out of 210, and employs 12 fund managers, ranking 97 out of 210 [2] - The best-performing public fund product in the past year is the Green High Dividend Preferred Mixed A, with a latest net value of 1.84 and a growth of 118.24% over the past year [2] - The latest public fund product launched is the Green Technology Growth Mixed A, which is equity-oriented and has a subscription period from August 8, 2025, to November 7, 2025 [2]

证券代码：688016 证券简称：心脉医疗 公告编号：2025-036 上海微创心脉医疗科技（集团）股份有限公司 关于以集中竞价交易方式第二期回购股份的进展公告 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： 回购方案首次披露日（第二期） 2024/10/30 回购方案实施期限（第二期） 2024 年 10 月 28 日~2025 年 10 月 27 日 预计回购金额（第二期） 10,000万元~20,000万元 □减少注册资本 √用于员工持股计划或股权激励 回购用途 □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（第二期） 1,228,743股 累计已回购股数占总股本比例 1.00% （第二期） 累计已回购金额（第二期） 129,072,779.84元 实际回购价格区间（第二期） 84.26元/股~120.00元/股 一、 回购股份的基本情况 以集中竞价交易方式第二期回购公司股份方案的议案》，同意公司以自有资金和/ 或自筹资金通过上海证券交易所系统以集中竞价交易方式回购公司已发行的部分 人民 ...

证券日报网讯9月2日晚间，心脉医疗发布公告称，截至2025年8月31日，公司通过上海证券交易所交易 系统以集中竞价交易方式(第二期)已累计回购公司股份1，228，743股。 ...

格隆汇9月2日丨心脉医疗(688016.SH)公布，截至2025年8月31日，公司通过上海证券交易所交易系统以 集中竞价交易方式（第二期）已累计回购公司股份122.87万股，回购成交的最高价为120.00元/股，最低 价为84.26元/股，支付的资金总额为人民币1.29亿元（不含印花税、交易佣金等交易费用）。 ...

证券代码：688016 证券简称：心脉医疗 公告编号：2025-036 上海微创心脉医疗科技（集团）股份有限公司 关于以集中竞价交易方式第二期回购股份的进展公告 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： | 回购方案首次披露日（第二期） | 2024/10/30 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 回购方案实施期限（第二期） | 2024 年 10 月 10 | 28 | 日~2025 | 年 | 月 | 27 | 日 | | 预计回购金额（第二期） | 10,000万元~20,000万元 □减少注册资本 | | | | | | | | 回购用途 | √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（第二期） | 1,228,743股 | | | | | | | ...

智通财经APP讯，心脉医疗(688016.SH)发布公告，截至2025年8月31日，公司通过上海证券交易所交易 系统以集中竞价交易方式(第二期)已累计回购公司股份122.87万股，回购成交的最高价为120.00元/股， 最低价为84.26元/股，支付的资金总额为人民币1.29亿元(不含印花税、交易佣金等交易费用)。 ...

智通财经APP讯，心脉医疗(688016.SH)发布公告，截至2025年8月31日，公司通过上海证券交易所交易 系统以集中竞价交易方式(第二期)已累计回购公司股份122.87万股，回购成交的最高价为120.00元/股， 最低价为84.26元/股，支付的资金总额为人民币1.29亿元(不含印花税、交易佣金等交易费用)。 ...