Investment Rating - The report maintains a "Buy" rating for the company, expecting a significant price increase in the next 6-12 months [4]. Core Insights - The company anticipates a revenue of 708 million to 787 million RMB for the first half of 2025, representing a year-on-year decline of 10% to flat growth. The net profit attributable to the parent company is expected to be between 304 million and 361 million RMB, reflecting a year-on-year decrease of 25% to 11% [2]. - The company has successfully launched several innovative products, including the Cratos branched aortic stent system and the Tipspear transjugular intrahepatic portosystemic shunt kit, which have received regulatory approval [3]. - The international business has expanded to over 40 countries, with significant certifications obtained for key products, indicating a strong international growth strategy [3]. Performance Analysis - The company experienced a temporary decline in performance due to price adjustments and market conditions in the domestic market, but core products have shown resilience and recovery in the second quarter [2]. - Revenue growth is projected to rebound significantly in the coming years, with expected net profits of 606 million, 794 million, and 965 million RMB for 2025, 2026, and 2027, respectively, indicating growth rates of 21%, 31%, and 22% [4][9]. Financial Projections - The company’s revenue is forecasted to grow from 1,206 million RMB in 2024 to 2,505 million RMB in 2027, with a compound annual growth rate (CAGR) of approximately 21.08% [9]. - The projected net profit margins are expected to improve, with net profit margins of 41.6% in 2024 and 38.5% in 2027 [10]. Market Sentiment - Recent market analysis shows a strong preference for "Buy" ratings, with a significant number of recommendations over the past months indicating positive sentiment towards the company's stock [11].

Performance Forecast - The company expects to achieve operating revenue between 708.46 million and 787.17 million yuan in the first half of 2025, representing a decrease of 78.72 million yuan to 0.00 million yuan compared to the same period last year, which is a year-on-year decline of 10.00% to 0.00% [1] - The net profit attributable to the parent company is projected to be between 303.54 million yuan and an unspecified amount, reflecting a year-on-year decrease of 24.78% to 10.52% [1] Previous Year Performance - The previous year's net profit was 403.52 million yuan [1] Reasons for Performance Changes - The company’s innovative products, including the Castor branched aortic stent graft and Minos abdominal aortic stent graft, have shown strong growth in clinical applications and implant volumes. However, market environment changes in the second half of 2024, along with adjustments in product pricing and promotion strategies, are expected to impact sales growth and profits in the first half of 2025 [1] Product Approvals and Achievements - The company has received approval for several products, including the Hector multi-branch aortic stent graft system, which is now in the special review process by the National Medical Products Administration (NMPA) [2] - The company was awarded the "2024 Advanced Manufacturing Outstanding Contribution Award" in Pudong New District, and its core product, the Castor branched aortic stent, received the 25th China Patent Gold Award [2] Market Presence - The company’s products are currently in clinical use in over 2,700 hospitals across 31 provinces, autonomous regions, municipalities, and Hong Kong and Macau, with international business extending to over 40 countries and regions [3] - The Minos abdominal aortic stent graft and Hercules balloon dilation catheter have successfully obtained EU CE MDR certification [3] Future Plans - The company plans to continue increasing foreign investments and deepen its global layout to provide high-quality medical device products and services to patients worldwide [3]

证券代码：688016 证券简称：心脉医疗 公告编号：2025-029 上海微创心脉医疗科技（集团）股份有限公司 2025 年半年度业绩预告的自愿性披露公告 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。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 经公司财务部门初步测算，预计 2025 年上半年度实现营业收入 70,845.72 万元到 78,717.47 万元，与上年同期（法定披露数据）相比，将减少 7,871.75 万 元到 0.00 万元，同比减少 10.00%到 0.00 %。 预计2025年上半年度实现归属于母公司所有者的净利润为30,354.00万元到 36,109.00万元，与上年同期（法定披露数据）相比，将减少9,998.36万元到4,243.36 万元，同比减少 24.78%到 10.52%。 （三）本次业绩预告未经注册会计师审计。 二、上年同期业绩情况 2024 年上半年度实现营业收入 78,717.47 万元，归属于 ...

心脉医疗：预计2025年上半年净利润同比减少24.78%-10.52% 金十数据7月14日讯，心脉医疗公告，预计2025年上半年度实现营业收入7.08亿元到7.87亿元，与上年同 期相比，将减少7871.75万元到0万元，同比减少10.00%到0.00%。预计2025年上半年度实现归属于母公 司所有者的净利润为3.04亿元到3.61亿元，与上年同期相比，将减少9998.36万元到4243.36万元，同比减 少24.78%到10.52%。 ...

Company Overview - Shanghai MicroPort CardioFlow Medtech Co., Ltd. specializes in the research, production, and sales of interventional medical devices for aortic and peripheral blood vessels [2] - The main products include thoracic aortic stent graft systems, abdominal aortic stent graft systems, intraoperative stents, balloon catheters, and stents [2] Recent Performance - As of the first quarter of 2025, the company reported revenue of 332 million yuan, a year-on-year decrease of 7.23%, and a net profit of 130 million yuan, down 29.66% year-on-year [2] - The sales gross margin stands at 69.61% [2] Market Position - The company's stock closed at 95.92 yuan, with a rolling price-to-earnings (PE) ratio of 26.42, marking a new low in 67 days [1] - The total market capitalization is 11.823 billion yuan [1] - In comparison to the industry, the average PE ratio for the medical device sector is 52.06, with a median of 37.22, placing the company at the 57th position in the industry ranking [1][3] Institutional Holdings - As of the first quarter of 2025, 11 institutions hold shares in the company, including 5 funds, 4 others, 1 brokerage, and 1 social security fund, with a total holding of 56.5791 million shares valued at 5.098 billion yuan [1]

Core Viewpoint - The stock of Xinmai Medical (688016) has shown fluctuations in trading volume and capital flow, with a recent closing price of 92.85 yuan, reflecting a 0.86% increase on July 8, 2025. The company is involved in the development, production, and sales of interventional medical devices for aortic and peripheral blood vessels [1][2]. Group 1: Stock Performance and Capital Flow - As of July 8, 2025, Xinmai Medical's stock closed at 92.85 yuan, with a trading volume of 12,100 hands and a total transaction amount of 112 million yuan [1]. - On July 8, the net outflow of main funds was 666,600 yuan, accounting for 0.59% of the total transaction amount, while retail investors experienced a net outflow of 5.31 million yuan, representing 4.74% of the total [1]. - Over the past five days, the stock has seen varying capital flows, with significant net inflows from speculative funds on certain days, indicating fluctuating investor sentiment [1]. Group 2: Financial Metrics and Industry Comparison - Xinmai Medical's total market value is 11.445 billion yuan, slightly above the industry average of 10.691 billion yuan, ranking 28th out of 122 companies in the medical device sector [2]. - The company reported a net profit of 130 million yuan for Q1 2025, a decrease of 29.66% year-on-year, with a gross margin of 69.61%, significantly higher than the industry average of 51.08% [2]. - The company's return on equity (ROE) stands at 3.19%, outperforming the industry average of 1.01%, indicating better profitability relative to equity [2].

上海微创心脉医疗科技(集团)股份有限公司的主营业务是主动脉及外周血管介入医疗器械的研发、生产 和销售。公司的主要产品是胸主动脉覆膜支架系统、腹主动脉覆膜支架系统、术中支架类、球囊类、支 架类。公司获评上海市政府质量金奖、科创板公司价值30强、首届"未来20·中国A股上市公司成长力年 度企业"；子公司鸿脉、蓝脉、拓脉获评"科技型中小企业"，蓝脉首次通过高新技术企业认定并获评"张 江年度新锐"企业；Castor分支型胸主动脉覆膜支架进入国家知识产权局《第二十五届中国专利金奖预 获奖项目》公示名录;静脉支架等入选《上海市"新优药械"产品目录》和《浦东新区创新药械产品推荐 目录》，另有5个项目获评浦东职工科技创新项目。总裁朱清入选"明珠领军人才"，刘梦钦、王金耀、 屠春霖、樊亚明入选"明珠工程师"。 最新一期业绩显示，2025年一季报，公司实现营业收入3.32亿元，同比-7.23%；净利润1.30亿元，同 比-29.66%，销售毛利率69.61%。 7月7日，心脉医疗今日收盘92.06元，下跌2.73%，滚动市盈率PE（当前股价与前四季度每股收益总和的 比值）达到25.36倍，总市值113.48亿元。 序号股票简称P ...

Group 1 - The core business of the company is the research, production, and sales of interventional medical devices for aorta and peripheral blood vessels [2] - The company has received several awards, including the Shanghai Government Quality Gold Award and recognition as one of the top 30 value companies on the Sci-Tech Innovation Board [2] - The latest financial report for Q1 2025 shows a revenue of 332 million yuan, a year-on-year decrease of 7.23%, and a net profit of 130 million yuan, down 29.66% [2] Group 2 - The company's current stock price is 94.54 yuan, with a rolling PE ratio of 26.04 times and a total market capitalization of 11.653 billion yuan [1] - In comparison to the industry, the average PE ratio for the medical device sector is 51.29 times, with a median of 37.02 times, placing the company at the 57th position [1][3] - As of March 31, 2025, the number of shareholders has increased to 18,176, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1]

证券代码：688016 证券简称：心脉医疗 公告编号：2025-028 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） | 953,841股 | | | | | | | | ...

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index (000683) increased by 0.93% as of July 1, 2025, with notable gains from stocks such as Rongchang Biopharmaceutical (688331) up 7.21% and Shanghai Yizhong (688091) up 3.61% [1] - Starting July 1, 2025, a new policy mandates that all drug sales must include a verification code for medical insurance reimbursement, with full traceability of drug codes required by January 1, 2026, which is expected to enhance drug circulation regulation and impact the entire pharmaceutical industry chain [1] - The current bull market in innovative drugs is driven by the improvement of China's pharmaceutical innovation capabilities, with a trend towards international collaboration in new drug development expected to enhance profitability and market potential for Chinese pharmaceutical companies [2] Group 2 - As of June 30, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index accounted for 50.3% of the index, including companies like United Imaging Healthcare (688271) and BeiGene (688235) [3] - The Sci-Tech Biopharmaceutical ETF closely tracks the performance of the Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index, which includes 50 large-cap companies in various biopharmaceutical sectors [2]