本公司董事会及全体董事保证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： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 证券代码：688016 证券简称：心脉医疗 公告编号：2024-056 上海微创心脉医疗科技（集团）股份有限公司 2024 年第三次临时股东大会决议公告 （一） 股东大会召开的时间：2024 年 9 月 11 日 （二） 股东大会召开的地点：上海市浦东新区康新公路 3399 弄 25 号楼 9 层公 司会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 278 | | --- | --- | | 普通股股东人数 | 278 | | 2、出席会议的股东所持有的表决权数量 | 58,964,491 | | 普通股股东所持有表决权数量 | 58,964,491 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的 | 48.1808 | | 比例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例 ...

上海微创心脉医疗科技（集团）股份有限公司（以下简称"心脉医疗"或"公 司"）第三届监事会第一次会议（以下简称"本次会议"或"会议"）于2024年9月11 日在公司会议室以现场表决与通讯结合的方式召开。全体监事一致同意豁免本次 监事会会议的提前通知期限。本次会议由公司全体监事推举的监事梁敏女士召集 并主持，会议应出席监事3名，实际出席监事3名。本次会议的召集、召开方式符 合相关法律、行政法规、部门规章、规范性文件和《公司章程》的规定，会议决 议合法、有效。 二、监事会会议审议情况 经与会监事审议表决，形成的会议决议如下： 1、审议通过《关于选举第三届监事会主席的议案》 公司第三届监事会同意选举梁敏女士为第三届监事会主席，任期自本次监事 会会议审议通过之日起至本届监事会任期届满之日止。 证券代码：688016 证券简称：心脉医疗 公告编号：2024-057 上海微创心脉医疗科技（集团）股份有限公司 第三届监事会第一次会议决议公告 本公司监事会及全体监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、监事会召开情况 表决结果：同意3票，反对0票， ...

证券代码：688016 证券简称：心脉医疗 公告编号：2024-058 上海微创心脉医疗科技（集团）股份有限公司 关于完成董事会、监事会换届选举及聘任高级管理人 员、证券事务代表的公告 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、准确性和完整性依法承担法律责任。 上海微创心脉医疗科技（集团）股份有限公司（以下简称"公司"或"心脉医 疗"）分别于2024年9月2日、2024年9月11日召开职工代表大会以及2024年第三次 临时股东大会，选举产生了公司第三届监事会职工代表监事、第三届监事会非职 工代表监事、第三届董事会董事共同组成公司第三届监事会、董事会。 2024年9月11日，公司召开第三届董事会第一次会议，审议通过了《关于选 举第三届董事会战略与发展委员会委员及主任委员的议案》《关于选举第三届董 事会审计委员会委员及主任委员的议案》《关于选举第三届董事会提名委员会委 员及主任委员的议案》《关于选举第三届董事会薪酬与考核委员会委员及主任委 员的议案》，选举产生了第三届董事会各专门委员会委员及主任委员如下： 1、董事会战略与发展委员会：Jonathan C ...

重要内容提示： （http://roadshow.sseinfo.com/） 说明会的公告 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、准确性和完整性依法承担法律责任。 证券代码：688016 证券简称：心脉医疗 公告编号：2024-055 上海微创心脉医疗科技（集团）股份有限公司 关于参加2024 年半年度医疗器械及医疗设备专场集体业绩 本次投资者说明会以网络互动形式召开，公司将针对 2024 年半年度的经营成 果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 投资者可于 2024 年 9 月 18 日(星期三) 16:00 前通过公司邮箱 irm@endovastec.com 将需要了解和关注的问题提前提供给公司。公司将在文字互动 环节对投资者普遍关注的问题进行回答。 上海微创心脉医疗科技（集团）股份有限公司（以下简称"公司"）已于 2024 年 8 月 27 日发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公 司 2024 年半年度经营成果、财务状况、发展理念，公司参与 ...

证券代码：688016 证券简称：心脉医疗 公告编号：2024-053 1 上海微创心脉医疗科技（集团）股份有限公司监事会 2024 年 9 月 3 日 上海微创心脉医疗科技（集团）股份有限公司 关于选举职工代表监事的公告 本公司监事会及全体监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、监事会召开情况 上海微创心脉医疗科技（集团）股份有限公司（以下简称"心脉医疗"或"公 司"）第二届监事会任期即将届满，根据《中华人民共和国公司法》《公司章程》 及公司《监事会议事规则》等有关规定，公司于2024年9月2日召开职工代表大会， 会议的召开及表决程序符合职工代表大会决策的有关规定，会议经民主讨论、表 决，全体职工代表一致审议通过了《关于选举第三届监事会职工代表监事的议 案》，同意选举蔡林林女士（简历详见附件）为公司第三届监事会职工代表监事。 根据《公司章程》的规定，公司监事会由三名监事组成，其中两名非职工代 表监事将由公司股东大会选举产生，一名职工代表监事由公司职工通过职工代表 大会民主选举产生。本次职工代表大会选举产生的职工代表监事，将与公 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][6]. Core Views - The company achieved rapid revenue growth in H1 2024, with a revenue of 787 million yuan, representing a year-on-year increase of 26.6%. The net profit attributable to shareholders was 404 million yuan, up 44.4% [4][5]. - The report highlights the efficiency in cost control and the potential for new product launches to drive future growth, particularly in overseas markets [4][5]. - The target price for 2024 has been adjusted to 119.37 yuan from the previous 150.13 yuan, based on a target PE of 23X [5]. Financial Summary - Revenue for 2024 is projected to be 1.489 billion yuan, with a growth rate of 25.4%. The net profit attributable to shareholders is expected to reach 640 million yuan, reflecting a growth of 30.0% [6][11]. - The earnings per share (EPS) forecast for 2024 is 5.19 yuan, down from the previous estimate of 5.36 yuan [5][6]. - The company reported a significant increase in R&D investment efficiency, with R&D expenses in H1 2024 amounting to 94 million yuan, a decrease of 21.9% [5]. Product and Market Performance - Innovative products are identified as the main growth driver, with revenues from aortic stents reaching 610 million yuan, up 22.7%, and revenues from interventional stents increasing by 69.2% to 107 million yuan [5]. - The overseas market showed strong performance, with revenue growth of 67% in H1 2024, amounting to 70 million yuan [5]. - The company completed the acquisition of its joint venture in the UK, enhancing its international sales capabilities [5].

Financial Performance - In the first half of 2024, the company achieved operating revenue of 787.17 million RMB, a year-on-year increase of 26.63% [2] - Net profit attributable to shareholders reached 403.52 million RMB, up 44.46% compared to the same period last year [2] - Basic earnings per share were 3.27 RMB, reflecting a growth of 25.29% year-on-year [2] - The company distributed a cash dividend of 16.50 RMB per 10 shares, totaling 203.38 million RMB, which accounts for 50.40% of the net profit attributable to shareholders for the first half of 2024 [2] Market Expansion - The domestic market coverage has increased, with the Castor branched aortic stent and delivery system covering over 1,100 hospitals and over 25,000 implants [3] - The Minos abdominal aortic stent and delivery system has reached nearly 900 hospitals [3] - The Reewarm PTX drug balloon dilation catheter has covered over 1,000 hospitals [3] - Internationally, overseas sales revenue grew by over 65% compared to the previous year, with 8 new overseas product registrations obtained [3] Research and Development Progress - The L-REBOA® aortic occlusion balloon catheter has received medical device registration from the National Medical Products Administration [4] - The Cratos® branched aortic stent and delivery system has obtained EU custom certification and is undergoing pre-market clinical trials in Europe [4] - The Aegis® II abdominal aortic stent system has completed clinical implants, while the multi-branch stent system is in the follow-up phase [5] Product Development and Regulatory Approvals - The Cratos® branched aortic stent system is in the registration application phase in China, expected to receive certification in Q1 2025 [6] - The company has launched several new products, including the Aorfix™ abdominal aortic stent system and the Altura™ abdominal aortic stent system [7] - The company is actively pursuing strategic partnerships to enhance its product offerings in the vascular intervention market [5] Pricing and Market Strategy - The terminal pricing for the company's aortic stent products has been adjusted in accordance with national healthcare pricing guidelines [8] - The company is focusing on expanding its peripheral market strategy, with several products expected to receive certification in the near future [8] - The integration of OMD is underway, with plans to enhance overseas business investments [9]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported strong revenue growth in the first half of 2024, achieving operating income of 787 million yuan, a year-on-year increase of 26.63%, and a net profit attributable to shareholders of 404 million yuan, up 44.36% year-on-year [1] - The growth is driven by the rapid increase in the number of hospital admissions and implantations of core products, including innovative products that have shown excellent clinical performance [1][3] - The company continues to invest heavily in research and development, with R&D expenses totaling 94.29 million yuan, accounting for 11.98% of operating income [1] Summary by Sections Financial Performance - In Q2 2024, the company achieved operating income of 429 million yuan, a year-on-year increase of 27.69%, and a net profit attributable to shareholders of 219 million yuan, up 41.72% year-on-year [1] - The company expects operating income for 2024-2026 to be 1.537 billion yuan, 1.979 billion yuan, and 2.525 billion yuan, with year-on-year growth rates of 29.5%, 28.7%, and 27.6% respectively [3][5] - The net profit attributable to shareholders for the same period is projected to be 650 million yuan, 832 million yuan, and 1.059 billion yuan, with growth rates of 32.0%, 27.9%, and 27.3% respectively [3][5] Product and Market Development - The company has seen significant growth in its aortic stent products, generating revenue of 610 million yuan, a year-on-year increase of 22.68%, accounting for approximately 77.5% of total revenue [1] - The company is expanding its market presence in second, third, and fourth-tier cities in China, increasing the coverage of its products in domestic hospitals [1] - Internationally, the company achieved overseas sales revenue of 69.61 million yuan, a year-on-year increase of over 65%, with products sold in 34 countries and regions [1] Research and Development - The company has a rich pipeline of projects under development, with 708 patent applications submitted, including 110 overseas authorized patents [1][3] - Several innovative products are in various stages of clinical trials, including the Cratos branched aortic stent and the Aegis II abdominal aortic stent [2][3]

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company reported a significant increase in revenue and net profit for the first half of 2024, with revenue reaching 787 million yuan, up 26.63% year-on-year, and net profit of 404 million yuan, up 44.36% year-on-year [2][4] - The company is experiencing strong growth in its core vascular intervention business, with a focus on expanding into lower-tier cities and international markets [2][4] - The company has successfully launched multiple innovative products, enhancing its product matrix and competitive edge in the market [2][4] - The forecast for revenue and net profit growth remains positive, with expected revenues of 15.10 billion yuan, 19.19 billion yuan, and 24.25 billion yuan for 2024, 2025, and 2026 respectively, reflecting growth rates of 27%, 27%, and 26% [2][4] Financial Summary - Total shares outstanding: 123 million [1] - Market price: 83.16 yuan [1] - Market capitalization: 10,250 million yuan [1] - Revenue forecast for 2024: 1,510 million yuan, with a year-on-year growth rate of 27% [2][4] - Net profit forecast for 2024: 655 million yuan, with a year-on-year growth rate of 33% [2][4] - Gross margin for H1 2024: 76.57%, net margin: 50.76% [2][4] - The company’s P/E ratio is projected to decrease from 29 in 2022 to 16 in 2024 [2][4]

公 司 半 年 报 点 评 证 券 研 究 报 告 公 司 报 告 主要数据 | --- | --- | |------------------------|----------------------------------| | 行业 | 医药 | | 公司网址 | www.endovastec.com | | 大股东 / 持股 | MicroPort Endovascular CHINA | | | Corp. Limited/39.77% | | 实际控制人 | | | 总股本 ( 百万股 ) | 123 | | 流通 A 股 ( 百万股 ) | 123 | | 流通 B/H 股 ( 百万股 ) | | | 总市值 ( 亿元 ) | 101 | | 流通 A 股市值 ( 亿元 ) | 101 | | 每股净资产 ( 元 ) | 32.64 | | 资产负债率 (%) | 10.3 | | 行情走势图 | | | | | 心脉医疗(688016.SH) 坚持技术创新引领成长，业绩维持高增符合预期 股价:82元 证券分析师 | --- | --- | |------------------|------- ...