截至2025年11月21日收盘，心脉医疗（688016）报收于91.25元，较上周的102.25元下跌10.76%。本 周，心脉医疗11月17日盘中最高价报102.94元。11月21日盘中最低价报91.23元。心脉医疗当前最新总市 值112.48亿元，在医疗器械板块市值排名31/126，在两市A股市值排名1611/5167。 交易信息汇总：心脉医疗11月18日发生1笔折价18.73%的大宗交易，合计成交2970.3万元 交易信息汇总 11月18日心脉医疗现1笔折价18.73%的大宗交易，合计成交2970.3万元 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 本周关注点 ...

Core Viewpoint - In Q3 2025, the company's performance met expectations, with overseas business maintaining rapid growth, while domestic business rebounded quickly against last year's low base. Looking ahead to Q4 2025, revenue is expected to show rapid growth, and profits are anticipated to turn from loss to profit. For 2026, while external peripheral intervention and overseas business are expected to continue high growth, uncertainties exist in the domestic large stent business due to centralized procurement [1][4]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 1.015 billion yuan, a year-on-year increase of 4.66%. The net profit attributable to the parent company was 429 million yuan, a decrease of 22.46% year-on-year, while the net profit excluding non-recurring items was 372 million yuan, down 25.80% year-on-year. The earnings per share (EPS) was 3.54 yuan [2][3]. - In Q3 alone, the company reported revenue of 300 million yuan, a year-on-year increase of 64.68%, with a net profit of 114 million yuan, down 23.63% year-on-year. The net profit excluding government subsidies and other investment income increased by 60% year-on-year [3]. Regional Performance - Domestic product sales growth remained above 20% in the first three quarters, but revenue was flat year-on-year due to price governance and centralized procurement impacts. In Q3 2025, domestic revenue showed positive growth year-on-year after a 17.24% decline in the first half of the year. Overseas business revenue grew over 65% year-on-year, increasing its share of total revenue to 18% [3][4]. Future Outlook - In Q4 2025, revenue is expected to grow rapidly, and profits are projected to turn positive. For 2026, while external peripheral intervention and overseas business are likely to maintain high growth, uncertainties in the domestic large stent business due to centralized procurement may impact performance. Excluding the effects of centralized procurement, revenue and profits are expected to recover rapidly based on this year's low base [4][9]. - The company is enhancing its global layout and product innovation, with a focus on meeting clinical market demands and increasing R&D investment to build a competitive product portfolio in the fields of aortic intervention, peripheral intervention, and tumor intervention [1][5]. R&D and Product Development - The company is progressing well with its R&D projects, including the Hector thoracic aortic multi-branch stent, which has completed clinical enrollment for the first patient in a domestic multi-center trial. Other products like the Aegis II abdominal aortic stent and IBD iliac branch stent are also advancing as planned [5]. - The company has a strong pipeline of products expected to be approved and launched in the coming year, including several key products in the peripheral business [5][6]. International Expansion - The company has been expanding its overseas business, covering regions such as the Middle East, Asia-Pacific, and South America, with a recent acquisition enhancing its presence in Europe. As of October, the company has added 11 new overseas registrations and expanded into 7 new countries [6][7]. - The Castor and Cratos branched aortic stents are experiencing good growth in Europe, South America, and Asia-Pacific, with the Cratos stent expected to receive approval in 2026. The Hector stent has already received a custom certificate in the EU and is now being launched in the market [7]. Operational Efficiency - The company's gross margin for Q3 was 73.28%, an increase of 2.43 percentage points year-on-year, attributed to improved production efficiency and reduced material costs. The company aims to maintain a gross margin above 70% for the year [8]. - The company’s operating cash flow for the first three quarters was 363 million yuan, a decline of 3.26% year-on-year. Accounts receivable turnover days increased by 42.13 days to 91.52 days, while inventory turnover days decreased by 44.57 days to 228.85 days [8].

Core Viewpoint - A block trade of 375,200 shares of Xinmai Medical occurred on November 18, with a transaction value of 29.703 million yuan, reflecting a discount of 18.73% compared to the closing price of the day [2] Summary by Category Block Trade Details - The transaction volume was 375,200 shares, with a transaction amount of 29.703 million yuan and a transaction price of 79.16 yuan [2] - The transaction price represented an 18.73% discount relative to the closing price of 97.40 yuan on the same day [2] - The buyer was CITIC Securities Co., Ltd., Shanghai Yingkou Road Securities Business Department, and the seller was Huabao Securities Co., Ltd., Shanghai Dalian Road Securities Business Department [2] Stock Performance - Xinmai Medical's closing price on November 18 was 97.40 yuan, down 1.57% from the previous day [2] - The stock had a turnover rate of 0.97% and a total trading volume of 117 million yuan for the day [2] - Over the past five days, the stock has declined by 3.47%, with a total net inflow of funds amounting to 9.667 million yuan [2] Margin Trading Data - The latest margin financing balance for Xinmai Medical is 500 million yuan, which has decreased by 18.183 million yuan over the past five days, representing a decline of 3.51% [2] Company Background - Shanghai MicroPort Xinmai Medical Technology (Group) Co., Ltd. was established on August 17, 2012, with a registered capital of 1.2326 billion yuan [2]

11月18日，心脉医疗大宗交易成交37.52万股，成交额2970.3万元，占当日总成交额的20.25%，成交价 79.16元，较市场收盘价97.4元折价18.73%。 | IN 275 Millio Julia, 11 EU FESA | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 交易日期 | 证券简称 | 证券代码 | 成交价(元) 成交金额(万元) 成交量( *) 买入营业部 | | | 卖出营业部 是否为专场 | | 025-11-18 | 心酵医疗 | 688016 | 79.16 2970.3 | 37.52 | 東證書貸生多醫出 | 菜酒店餐饮酒酒店 ка | ...

Core Viewpoint - Shanghai MicroPort MedBot (688016) held its first extraordinary general meeting of shareholders on November 14, 2025, where significant resolutions were passed, including the cancellation of the supervisory board and amendments to the company's articles of association [2][4]. Trading Information Summary - As of November 14, 2025, the stock closed at 102.25 yuan, with a slight increase of 0.25% - The turnover rate was 1.65%, with a trading volume of 20,400 lots and a total transaction value of 212 million yuan - On the same day, the net outflow of main funds was 4.6228 million yuan, accounting for 2.18% of the total transaction value, while retail funds saw a net outflow of 6.6637 million yuan, representing 3.15% of the total transaction value [1][4]. Company Announcements Summary - The extraordinary general meeting approved three key resolutions: the cancellation of the supervisory board and amendments to the articles of association, the revision and addition of certain management systems, and the purchase of liability insurance for directors and senior management [2][4]. - The meeting was convened by the board of directors and chaired by Jonathan Chen, utilizing a combination of on-site and online voting methods, with the results deemed legally valid [2]. - Additionally, a workers' representative meeting was held on the same day, electing Yuan Zhenyu as the employee representative director for the third board of directors, with his term starting immediately upon approval [3].

Core Viewpoint - The company, Shanghai MicroPort CardioFlow Medtech Co., Ltd., has successfully held its first extraordinary general meeting of shareholders in 2025, where significant resolutions were passed, including the cancellation of the supervisory board and amendments to the company's articles of association [1][2][3] Group 1: Stock Performance - As of the market close on November 14, 2025, the stock price of MicroPort CardioFlow was 102.25 yuan, reflecting a 4.62% increase from the previous week's price of 97.73 yuan [1] - The stock reached a peak price of 105.94 yuan during the trading session on November 14, 2025, and a low of 97.5 yuan on November 10, 2025 [1] - The company's current total market capitalization stands at 12.604 billion yuan, ranking 25th out of 126 in the medical device sector and 1537th out of 5165 in the overall A-share market [1] Group 2: Shareholder Meeting Outcomes - The extraordinary general meeting on November 14, 2025, was conducted with both in-person and online voting, presided over by Chairman Jonathan Chen, and the voting results were deemed legally valid [2] - Key resolutions passed included the cancellation of the supervisory board, amendments to the articles of association, and the purchase of liability insurance for directors and senior management, with the cancellation of the supervisory board requiring a special resolution that received over two-thirds approval from voting shareholders [2][3] - Additionally, a workers' representative meeting was held on the same day, resulting in the election of Yuan Zhenyu as a worker representative director for the third board of directors, with his term starting immediately upon approval [2]

Core Points - The company held its first extraordinary general meeting of shareholders on November 14, 2025, where it approved the cancellation of the supervisory board and the amendment of the company's articles of association [1][4] - The company elected Yuan Zhenyu as the employee representative director for the third board of directors, with his term starting from the approval date of the election [1][2] Group 1: Shareholder Meeting Details - The extraordinary general meeting was held on November 14, 2025, at the company's meeting room in Shanghai [5] - The meeting was conducted with both on-site and online voting, presided over by the chairman, Jonathan Chen, and complied with relevant laws and regulations [5][6] - All current directors and supervisors attended the meeting, ensuring a quorum [5] Group 2: Resolutions Passed - The following resolutions were approved during the meeting: 1. Cancellation of the supervisory board and amendment of the articles of association [6] 2. Revision and addition of certain management systems [6] 3. Purchase of liability insurance for directors and senior management [6][7] - The first resolution required a two-thirds majority to pass, while the other resolutions were approved by a simple majority [7] Group 3: Election of Employee Representative Director - Yuan Zhenyu was elected as the employee representative director, meeting all legal and regulatory requirements [2][3] - His background includes a Ph.D. from Shanghai Jiao Tong University and extensive experience in the company since 2007 [3]

Core Viewpoint - On November 14, 2025, Xinmai Medical (688016) held its first extraordinary general meeting of shareholders, where significant resolutions were passed, including the cancellation of the supervisory board and amendments to the company's articles of association [1]. Group 1: Stock Performance - As of the market close on November 14, 2025, Xinmai Medical's stock price was 102.25 yuan, reflecting a 0.25% increase from the previous trading day [1]. - The stock opened at 101.31 yuan, reached a high of 105.94 yuan, and a low of 101.31 yuan, with a trading volume of 2.12 billion yuan and a turnover rate of 1.65% [1]. Group 2: Shareholder Meeting Resolutions - The extraordinary general meeting approved the proposal to cancel the supervisory board and amend the company's articles of association, which required a special resolution with more than two-thirds of the voting rights held by attending shareholders [1]. - The meeting also included the proposal to purchase liability insurance for directors and senior management, which was voted on separately for minority investors [1].

Core Viewpoint - The company announced the election of Mr. Yuan Zhenyu as the employee representative director for the third board of directors during the employee representative meeting scheduled for November 14, 2025 [2] Group 1 - The employee representative meeting will take place on November 14, 2025 [2] - Mr. Yuan Zhenyu has been nominated for the position of employee representative director [2]

证券代码：688016 证券简称：心脉医疗 公告编号：2025-048 上海微创心脉医疗科技（集团）股份有限公司 关于选举第三届董事会职工代表董事的公告 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。 2025 年 11 月 15 日 附：袁振宇个人简历 袁振宇，男，1977 年出生，中国国籍，无境外永久居留权，上海交通大学 工学博士研究生学历。2007 年 3 月至 2014 年 12 月，先后担任上海微创大动脉 研发工程师、研发主管、研发经理；2015 年 1 月至今，先后担任心脉医疗研发 资深经理、研发总监、研发高级总监、资深总监、副总经理，目前同时担任上海 蓝脉、上海鸿脉、上海拓脉总经理。 截至本公告日，袁振宇先生未持有公司股份；与公司控股股东及持有公司 5%以上股份的股东、其他公司董事和高级管理人员之间不存在关联关系；未受 过中国证监会及其他有关部门的处罚和证券交易所纪律处分，未因涉嫌犯罪被司 法机关立案侦查或者涉嫌违法违规被中国证监会立案稽查；不存在重大失信等不 良记录；符合《公司章程》《公司法》及其他法律法规 ...