证券代码：688016 证券简称：心脉医疗 公告编号：2024-077 上海微创心脉医疗科技（集团）股份有限公司 关于收到税务事项通知书需补缴税款的公告 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。 近日，上海微创心脉医疗科技（集团）股份有限公司（以下简称"公司"）收 到国家税务总局上海市浦东新区税务局第二税务所（以下简称"浦东新区税务局 第二税务所"）发来的《税务事项通知书》（沪税浦二通〔2024〕1186 号）。现将 有关事项公告如下： 3、2024 年 10 月 12 日，上海市高新技术企业认定办公室发布《关于公示 2024 年上海市第二批拟认定高新技术企业名单的通知》（沪高企认办〔2024〕018 号），公司名列其中。现在备案流程中。 一、基本情况 4、公司管理层对上述事项高度重视，将持续加强公司管理工作，组织和加 强相关部门及人员的培训学习，强化责任意识，切实维护公司及股东的利益。敬 请广大投资者注意投资风险。 特此公告。 上海微创心脉医疗科技（集团）股份有限公司董事会 1、2024 年 8 月 14 日，上海 ...

回购资金总额不低于人民币 10,000 万元（含），不超过人民币 20,000 万元（含）， 具体回购资金总额以回购完毕或回购期满时实际回购股份使用的资金总额为准； 证券代码：688016 证券简称：心脉医疗 公告编号：2024-076 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回购报告 书 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： 回购股份金额： 回购股份资金来源： 公司自有资金和/或自筹资金; 回购股份用途： 回购的股份将在未来适宜时机全部用于股权激励或员工持股计划，并在发布 股份回购实施结果暨股份变动公告日后 3 年内转让；若公司本次回购的股份未能 在股份回购实施结果暨股份变动公告日后 3 年内转让完毕，则将依法履行减少注 册资本的程序，未转让股份将被注销。如国家对相关政策作调整，则本回购方案按 调整后的政策实行; ● 回购股份价格： 经公司第三届董事会第二次会议审议，本次回购价格为不超过人民币 180 元/ 股（含），回购价格上限高于公司董事会通过回购决议 ...

证券代码：688016 证券简称：心脉医疗 公告编号：2024-075 上海微创心脉医疗科技（集团）股份有限公司 关于收到《上海浦东发展银行股份有限公司张江科 技支行贷款承诺函》暨获得回购公司股份专项融资 支持的自愿性信息披露公告 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。 特别提示： 近日，上海微创心脉医疗科技（集团）股份有限公司（以下简称"公司"） 收到上海浦东发展银行股份有限公司张江科技支行（以下简称"浦发银行张江科 技支行"）出具的《上海浦东发展银行股份有限公司张江科技支行贷款承诺函》 （以下简称"《贷款承诺函》"），浦发银行张江科技支行承诺为公司提供 14,000 万 元的贷款资金用于股票回购。 一、 回购股份方案内容 2024 年 10 月 28 日，公司召开第三届董事会第二次会议，审议通过了《关 于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 部分人民币普通股（A 股）股票，并在未来适宜时机全部用于股权激励或员 ...

关于股份回购实施结果暨股份变动的公告 上海微创心脉医疗科技（集团）股份有限公司 证券代码：688016 证券简称：心脉医疗 公告编号：2024-074 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 | 2024/7/24 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 7 日~2025 年 7 月 | 23 | 月 | 日 | 22 | | 预计回购金额 | 万元~10,000 万元 6,000 | | | | | | 回购价格上限 | 128.35 元/股 | | | | | | 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 | | | | | | 实际回购股数 | 108.71 万股 | | | | | | 实际回购股数占总股本比例 | 0.88% | | | | | | 实际回购金额 | 元 99,9 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [2] Core Views - The report highlights significant pressure in the domestic market due to price adjustments affecting the sales of covered stents, while overseas revenue is expected to grow [2][4] - The company has achieved a revenue of 9.70 billion yuan for the first nine months of 2024, representing a year-on-year increase of 9.13%, with a net profit attributable to the parent company of 5.53 billion yuan, up 42.46% year-on-year [2] - The report anticipates that the company's revenue will continue to grow, projecting revenues of 12.47 billion yuan, 13.54 billion yuan, and 15.99 billion yuan for 2024, 2025, and 2026 respectively, with corresponding net profits of 4.89 billion yuan, 5.47 billion yuan, and 6.26 billion yuan [2][6] Summary by Sections Financial Performance - The company reported a revenue of 1.82 billion yuan in Q3 2024, a decline of 31.65% year-on-year, primarily due to policy impacts [2] - The gross profit margin is projected to decrease from 76.5% in 2023 to 70.5% by 2026 [7] - The net profit attributable to the parent company is expected to show a slight decline in 2024, with a forecast of 489 million yuan, before increasing to 547 million yuan in 2025 and 626 million yuan in 2026 [4][6] Market Outlook - The report indicates that the company is experiencing significant pressure in the domestic market due to price adjustments and competitive bidding policies, while the overseas market is expected to see rapid growth [2][4] - The company has made strategic acquisitions and is expanding its market presence in Europe, Japan, and the United States, with overseas revenue growth of 11% year-on-year [2][4] Valuation Metrics - The report provides a forecast for the company's earnings per share (EPS) to be 3.97 yuan in 2024, increasing to 5.08 yuan by 2026 [6][7] - The price-to-earnings (P/E) ratio is projected to decrease from 28.58 in 2023 to 21.43 by 2026, indicating a potential increase in valuation attractiveness over time [7]

Summary of Conference Call Records Company Overview - The conference call discusses the performance and strategic developments of **Xinmai Medical** (心脉医疗), a company in the medical device industry, particularly focusing on cardiovascular products. Key Points Financial Performance - As of September, Xinmai Medical reported total revenue of **9.7 billion** CNY, a year-on-year increase of **9.13%** [1] - Fund resources reached **5.47 billion** CNY, up **42.18%** year-on-year [1] - Earnings per share were **4.49 CNY**, reflecting a **24.03%** increase compared to the previous year [1] Market Expansion - The company has successfully entered over **2,400 hospitals** in the domestic market [1] - Internationally, Xinmai Medical's overseas sales revenue grew by **75%** year-on-year, accounting for over **10%** of total sales [2] - The company has obtained over **60** overseas product registration certificates, with products being used in **40** countries across Europe, Latin America, and Asia [2] Product Development - New product approvals and clinical trials are progressing well, with several products in the pipeline for various medical applications [3][4] - The company has completed the registration submission for several products, including a **drug-eluting stent system** and a **vascular closure device** [4] Industry Challenges - The company faces a complex operating environment, impacting short-term performance, but management believes long-term innovation and brand strength will drive growth [1] - The third quarter saw a decline in surgical volumes due to seasonal factors and market adjustments, affecting overall sales [6][7] - Price reductions in the industry have led to increased competition, particularly from imported products, which may impact market share [11][15] Strategic Adjustments - Xinmai Medical is adjusting its marketing strategies in response to price changes and competitive pressures, focusing on maintaining profit margins [12][18] - The company is optimistic about future sales growth, particularly in the fourth quarter, as surgical volumes are expected to recover [17][18] Regulatory Environment - The company is actively engaging with the National Medical Insurance Bureau regarding pricing strategies and product registrations, ensuring compliance with new regulations [29][30] - The impact of centralized procurement on new product launches and market entry strategies is being closely monitored [30] Future Outlook - Management expresses confidence in achieving revenue and profit growth in the coming years, driven by new product launches and market expansion efforts [18][28] - The company is preparing for increased competition in the cardiovascular market, particularly with the introduction of new products and pricing strategies [15][16] Additional Insights - The integration of the recently acquired European medical device company, Lava, is progressing smoothly, enhancing Xinmai Medical's market presence in Europe [2][21] - The company is focusing on building a robust pipeline of innovative products to maintain a competitive edge in the medical device industry [19][24] This summary encapsulates the key discussions and insights from the conference call, highlighting Xinmai Medical's current performance, strategic initiatives, and outlook in the medical device sector.

Financial Performance - The company's revenue for the first three quarters of 2024 reached 970 million CNY, representing a year-on-year growth of 9.13% [1][2] - Net profit attributable to shareholders was 553 million CNY, showing a significant increase of 42.46% year-on-year [2] - Basic earnings per share stood at 4.49 CNY, reflecting a growth of 24.03% compared to the previous year [2] Market Presence - The company's products have been adopted in over 2,400 domestic hospitals [2] - The Castor branched aortic stent and delivery system has covered more than 1,100 terminal hospitals [2] - The Minos abdominal aortic stent and delivery system has reached over 900 terminal hospitals [2] - The Reewarm PTX drug-coated balloon catheter has been implemented in over 1,100 terminal hospitals [2] - New products like the Fontus branched intraoperative stent system and Talos straight thoracic aortic stent system have entered over 200 and 300 hospitals, respectively [2] Global Expansion - The company has obtained over 60 overseas registrations, with products entering clinical applications in 40 countries including Europe, Latin America, and Southeast Asia [2] - The full acquisition of Optimum Medical Device Inc. has enhanced the company's presence in the European market [2] Product Features - The Veryan BM3D® peripheral stent system is noted for being the world's first and only spiral-structured peripheral vascular stent, designed to reduce the risk of stent fracture [3] - The polyethylene glycol embolization microspheres have been submitted for registration, with features aimed at precise tumor vascular treatment [3][4] Integration Progress - The integration with Lombard is progressing smoothly, as both companies have collaborated for many years [4]

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回购公司股份的进展公告 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 | 2024/7/24 | | | | | | --- | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2024 年 7 月 日~2025 7 月 | 23 | 年 | 22 | 日 | | 预计回购金额 | 万元~10,000 万元 6,000 | | | | | | 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 | 894,027 股 | | | | | | 累计已回购股数占总股本比 | 0.73% | | | | | | 例 | | | | | | | 累计已回购金额 | 79,989,242.97 元 | | | | | | 实际回购价格区间 | 78.69 元/股~98.1 ...

Investment Rating - Maintains an "Overweight" rating with a target price of 119.37 RMB [2][3][4] Core Views - The company's aortic business is under pressure due to price adjustments, but its medium-to-long-term competitiveness remains intact [2] - Peripheral products are expected to accelerate market penetration through centralized procurement, contributing to incremental growth [2] - The impact of price adjustments is expected to be fully absorbed by Q3 2025, and the company's competitiveness in the aortic field is likely to remain strong [3] - The company's overseas business is expected to accelerate following the acquisition of OMD [3] Financial Performance - Q1-Q3 2024 revenue reached 970 million RMB, a YoY increase of 9.1%, with net profit attributable to shareholders of 553 million RMB, up 42.5% YoY [3] - Q3 2024 revenue was 182 million RMB, a YoY decrease of 31.7%, with net profit attributable to shareholders of 150 million RMB, up 37.6% YoY [3] - Adjusted EPS forecasts for 2024-2026 are 3.86/4.27/6.19 RMB, down from previous estimates of 5.19/5.98/7.54 RMB [3] Product and Market Dynamics - Aortic stent prices were adjusted in August and September 2024, with thoracic stent prices reduced by approximately 40% and abdominal stent prices by 20%-35% [3] - The company's peripheral products, including venous stents and vena cava filters, have been approved and are expected to benefit from centralized procurement [3] - New products such as Cratos, AegisⅡ, and Hector are in development and expected to enhance the company's competitiveness in the aortic field [3] Valuation and Market Data - The company's current price is 98.06 RMB, with a 52-week price range of 79.81-206.98 RMB [4][5] - Total market capitalization is 12,087 million RMB, with 123 million shares outstanding [5] - The company's P/E ratio for 2024 is 25.41, with a target P/E of 28X for 2025 [3][4] Financial Forecasts - Revenue for 2024E is projected at 1,161 million RMB, with a YoY decrease of 2.2%, while 2025E and 2026E revenues are expected to grow by 22.2% and 38.8%, respectively [9] - Net profit attributable to shareholders for 2024E is forecasted at 476 million RMB, with 2025E and 2026E profits expected to grow by 10.7% and 44.9%, respectively [9] - ROE for 2024E is projected at 11.4%, increasing to 15.8% by 2026E [9] Industry Comparison - The company's valuation is compared to peers such as Xishan Technology, United Imaging Healthcare, and SonoScape, with an average P/E ratio of 38 for 2023A, 37 for 2024E, and 28 for 2025E [11]

证券代码：688016 证券简称：心脉医疗 公告编号：2024-070 上海微创心脉医疗科技（集团）股份有限公司 关于实施 2024 年半年度利润分配方案后调整回购股 份价格上限的公告 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。 重要内容提示： 一、 回购股份的基本情况 2024 年 7 月 23 日，上海微创心脉医疗科技（集团）股份有限公司（以下简 称"公司"）召开第二届董事会第二十九次会议，审议通过了《关于以集中竞价 交易方式回购公司股份方案的议案》,同意公司以自有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币普通股（A 股）股票，并 在未来适宜时机全部用于股权激励或员工持股计划。公司本次回购价格不超过人 民币 130.00 元/股（含），回购资金总额不低于人民币 6,000.00 万元（含），不超 过人民币 10,000.00 万元（含），回购股份的实施期限自董事会审议通过本次回购 方案之日起 12 个月内。具体内容详见公司于 2024 年 7 月 24 日刊登在上海证券 调整前回购价格 ...