我们看到公司确实也面临比较复杂的经营环境那么在一定程度上影响了公司的业绩表现但同时呢我们也看到公司在经营管理层面进行了迅速的调整我们相信对于公司来讲的话业绩波动只是一个短期的影响长期来看公司的创新能力和品牌优势能够帮助公司实现更长远的发展 那么接下来我就把时间交给邱总请他跟我们分享一下公司的三级度经营情况之后再进入到投资人交流环节谢谢邱总谢谢何老师那我以下面的由我呢就我们心脉医疗呢三级度的经营情况的向大家做一个汇报 那截止到这个9月末的话呢公司的营业总收入呢达到了9.7亿同比增长呢是9.13%基金资源是5.47亿同比增长呢是42.18%每股的收益呢是4.49元每股同比增长呢是24.03%那在这个国内市场这个开拓方面我们公司的产品呢累计进入了这个国内呢超2400家的医院 啊卡斯的话呢现在已经覆盖了超过一千一百家医院明天真的是覆盖了超过九百家这个医院啊我们的女儿我们这个药物囚狼和导管的是覆盖了一千一百家医院那在这个新产品的这个路线推广方面的话呢我们的方式是然后累计进入了超两百家的医院啊太乐趣的话呢累计进入了超三百家的医院啊还在持续的和那个放量过程中 那在这个全球化发展方面我们前三个季度的海外销售收入呢较去年同期增 ...

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 ...

证券代码：688016 证券简称：心脉医疗 公告编号：2024-072 上海微创心脉医疗科技（集团）股份有限公司 关于第二期回购股份事项前十名股东和前十名无限 售条件股东持股情况的公告 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。 二、公司前十名无限售条件股东持股情况 | 序号 | 股东名称 | 持股数量（股） | 占公司总股本比 | | --- | --- | --- | --- | | | | | 例（%） | | 1 | MicroPort Endovascular | 49,025,370 | 39.77 | | | CHINA Corp. Limited | | | | 2 | 中国银行股份有限公司－ 华宝中证医疗交易型开放 | 1,995,621 | 1.62 | | | 式指数证券投资基金 | | | | 3 | 全国社保基金四一三组合 | 1,271,102 | 1.03 | | 4 | 香港中央结算有限公司 | 1,033,387 | 0.84 | | 5 | 上海微创心脉医疗科技 （集团）股份有限公司 ...

一、 回购股份的基本情况 2024 年 10 月 28 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工持股计划。公司本 次回购价格不超过人民币 180 元/股（含），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），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 10 月 30 日刊 调整前回购价格上限：180元/股（含）； 调整后回购价格上限：178.35元/股（含）； 回购价格调整起始日：2024年11月8日（2024年半年度权益分派除权除息 日） 证券代码：688016 证券简称：心脉医疗 公告编号：2024-071 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第二期 股份回购方案回购价格 ...

证券代码：688016 证券简称：心脉医疗 公告编号：2024-069 上海微创心脉医疗科技（集团）股份有限公司 2024 年半年度 权益分派实施公告 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： 1. 发放年度：2024 年半年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东 （公司回购专用证券账户除外）。 根据《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等相关 规定，上市公司回购专用账户中的股份不享有股东大会表决权、利润分配、公积金 是否涉及差异化分红送转：是 每股分配比例 每股现金红利 1.66205 元 相关日期 转增股本、认购新股等权利。因此，公司通过回购专用账户所持有的本公司股份， 不参与本次权益分派。 3. 差异化分红送转方案： | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2024/11/7 | 2024/1 ...

中国国际金融股份有限公司 关于上海微创心脉医疗科技（集团）股份有限公司 差异化分红事项的核查意见 中国国际金融股份有限公司（以下简称"中金公司"、"保荐机构"）作为上海微 创心脉医疗科技（集团）股份有限公司（以下简称"公司"、"心脉医疗"）向特定对 象发行股票项目的保荐机构，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第7号——回购股 份》等相关法律法规和规范性文件的要求，对心脉医疗2024年半年度利润分配涉及的差 异化分红事项（以下简称"本次差异化分红"）进行了审慎核查，具体情况如下： 截至本核查意见出具之日，公司总股本数为 123,262,117 股，回购专用证券账户中 股份总数为 894,027 股，公司回购专用证券账户的股份不参与本次利润分配，本次实际 参与权益分派的股份总数为 122,368,090 股。公司按照分配总金额不变，相应调整每股 分配比例的原则，以实施权益分派股权登记日的总股本扣减公司回购专用证券账户中的 股份为基数，每股派发现金红利由 1.65 元（含税）调整为 1.66205 元（含税）。 一、本次差异化分红的原因 ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The report highlights that the company's short-term performance is impacted by terminal price adjustments and the implementation of centralized procurement, while there is a focus on the release of new products across multiple fields [1] - The company has shown a strong commitment to long-term growth through share buybacks and strategic pricing adjustments, particularly in the thoracic and abdominal stent markets [1] - The report anticipates that external policy changes, such as centralized procurement, may cause short-term disruptions but expects these impacts to gradually diminish as the company adapts [1] Financial Performance Summary - **Revenue Forecasts**: - 2022A: 897 million - 2023A: 1,187 million - 2024E: 1,205 million - 2025E: 1,505 million - 2026E: 1,881 million - **Growth Rates**: - 2022A: 31% - 2023A: 32% - 2024E: 1% - 2025E: 25% - 2026E: 25% [1] - **Net Profit Forecasts**: - 2022A: 357 million - 2023A: 492 million - 2024E: 480 million - 2025E: 626 million - 2026E: 783 million - **Growth Rates**: - 2022A: 13% - 2023A: 38% - 2024E: -3% - 2025E: 30% - 2026E: 25% [1] - **Earnings Per Share (EPS)**: - 2022A: 4.96 - 2023A: 5.95 - 2024E: 5.80 - 2025E: 7.57 - 2026E: 9.47 [1] Market and Operational Insights - The company has experienced a revenue of 970 million in the first three quarters of 2024, representing a year-on-year growth of 9.13% [1] - The net profit attributable to the parent company for the same period was 553 million, showing a year-on-year increase of 42.46% [1] - The report notes a significant decline in revenue for Q3 2024, down 31.65% year-on-year, primarily due to price adjustments in key products [1][2] - The company is actively engaging with distributors and procurement parties to mitigate the impacts of policy changes and enhance product promotion in various fields [1]