新华财经上海9月19日电（记者杜康）根据中国医药保健品进出口商会统计，2025年上半年我国医疗器 械出口额为241亿美元，同比增长5.0%。在产业出口规模壮大的同时，20余家科创板医疗器械企业加速 技术创新和国际化运营，积极借力并购重组，实现全球化布局和经营质量的稳步提升。 此外，海尔生物、山外山上半年分别实现海外收入同比增幅30%、41%，贡献了科创板医疗设备企业通 过本土化布局战略渗透国际市场的典型案例。海尔生物上半年海外收入达到4.27亿元，其产品及解决方 案已应用于全球150多个国家和地区，在17个国家建立起本地化运营体系；市场调查统计显示，公司三 大低温产品线在其中25个国家的市场份额已居首位。国产血液净化设备（CRRT）龙头山外山则积极与 海外渠道商构建合作关系，与多家国际大型连锁透析终端建立合作，利用其终端网络实现快速渗透。 医疗器械产业整合深入推进 2025年上半年，科创板医疗器械企业营收、净利润同比增速为9%和3%，第二季度营收、净利润环比增 速分别达到22%和30%，呈现回升势头。近三成科创板医疗器械公司的海外业务占比达到30%以上。 业内人士指出，受益于"反内卷"背景下集采规则优化、境外 ...

市场机构统计数据显示，2025年上半年我国医疗器械出口额为241亿美元，同比增长5.0%，占医药产品 出口总额的超四成。 在产业出口规模壮大的同时，20余家科创板医疗器械企业加速技术创新和国际化运营，积极借力并购重 组，实现全球化布局和经营质量的稳步提升。2025年上半年，科创板医疗器械企业营收、净利润同比增 速为9%和3%，第二季度营收、净利润环比增速分别达到22%和30%，呈现回升势头。近三成科创板医 疗器械公司的海外业务占比达到30%以上。 业内人士认为，受益于"反内卷"背景下集采规则优化、境外市场扩容、临床应用方向拓展等多重机遇， 医疗器械企业有望开启成长新阶段。 创新为基 出海战略成效显著 记者关注到，科创板医疗器械企业主要聚焦于高值耗材、医疗设备赛道，依托资本市场的支持，上市后 逐步构建广泛的全球营销网络，在医学影像、心血管介入耗材等重点领域，已经诞生出多家行业标杆企 业。从成长轨迹看，"创新、出海、并购"已成为行业发展的主旋律。 科创板器械企业合计拥有发明专利约1.8万项，近年来推动多款创新医疗（002173）器械获批，落地了 一批具有全球首创性的产品。上海微创心脉医疗科技(集团)股份有限公司的 ...

Investment Rating - The report maintains a rating of "Overweight" for the pharmaceutical and biotechnology industry [2] Core Insights - Geopolitical disturbances and fluctuations in innovative drugs have limited impact on the innovation theme, while opportunities in medical devices are becoming apparent [9] - The report highlights the ongoing optimization of centralized procurement rules for medical consumables, indicating a shift from a "lowest price" approach to a "preventing excessive competition" strategy [10] - The approval process for innovative drugs is accelerating, with a new 30-day review channel established for eligible innovative drug applications [9][10] Summary by Sections Industry Overview - The pharmaceutical sector has shown a return of 26.80% since the beginning of 2025, outperforming the Shanghai Composite Index by 11.88 percentage points [14] - The report notes a mixed performance among sub-sectors, with medical devices and medical services showing positive growth while biopharmaceuticals and chemical drugs faced declines [9][14] Market Dynamics - The report indicates that the medical device sector is experiencing a recovery, with significant movements in stocks related to CRO/CDMO and medical devices [22] - Recent geopolitical news has caused short-term volatility in the innovative drug sector, but the market has quickly stabilized [9] Key Company Performance - The report recommends several companies for investment, including WuXi AppTec, WuXi Biologics, and others, which are expected to perform well in the current market environment [6][25] - The average performance of recommended stocks has shown a 6.64% increase this month, outperforming the broader pharmaceutical industry [24] Regulatory Developments - The National Medical Products Administration has announced measures to streamline the clinical trial approval process for innovative drugs, enhancing efficiency and transparency [9][12] - New procurement rules for coronary intervention balloon medical consumables have been introduced, emphasizing the need for reasonable pricing and cost commitments from bidding companies [10][12]

南微医学所属申万行业为：医药生物-医疗器械-医疗耗材。所属概念板块包括：医用耗材、医疗器械、 中盘、融资融券、社保重仓等。 截至6月30日，南微医学股东户数1.23万，较上期减少7.27%；人均流通股15216股，较上期增加7.84%。 2025年1月-6月，南微医学实现营业收入15.65亿元，同比增长17.36%；归母净利润3.63亿元，同比增长 17.04%。 分红方面，南微医学A股上市后累计派现8.85亿元。近三年，累计派现5.71亿元。 9月9日，南微医学盘中下跌2.03%，截至13:32，报94.30元/股，成交2.29亿元，换手率1.27%，总市值 177.14亿元。 资金流向方面，主力资金净流出1755.03万元，特大单买入1169.79万元，占比5.11%，卖出1462.50万 元，占比6.39%；大单买入4679.45万元，占比20.46%，卖出6141.78万元，占比26.85%。 南微医学今年以来股价涨41.60%，近5个交易日涨3.29%，近20日跌1.61%，近60日涨45.20%。 资料显示，南微医学科技股份有限公司位于江苏省南京江北新区药谷大道199号，成立日期2000年5月10 ...

Group 1 - The core viewpoint is that the company, Nanwei Medical, is a leading domestic minimally invasive device manufacturer with a comprehensive product matrix, poised to benefit from the increasing penetration of minimally invasive surgical procedures [1] - The company focuses on the entire chain of minimally invasive diagnosis and treatment, creating precise interventional solutions, and has established a differentiated competitive advantage through its extensive product offerings [1] - The product range includes key areas of endoscopic diagnosis and treatment, such as dilation, hemostasis, EMR/ESD, biopsy, EUS/EBUS, and ERCP, and the company is also expanding into tumor ablation technology and innovative disposable visualization products [1] Group 2 - The company has accelerated its global strategic layout, with overseas business growth significantly outpacing domestic performance, becoming a crucial driver of revenue growth [2] - Currently, the company has expanded its overseas operations to over 90 countries/regions, maintaining a leading position among domestic medical device manufacturers in international markets [2] - By 2024, overseas business is expected to account for nearly half of the company's revenue, with further growth anticipated to 58% in the first half of 2025, indicating a substantial shift in revenue structure [2] Group 3 - The company employs a collaborative innovation model between medicine and engineering, which effectively addresses clinical pain points and leads to the continuous emergence of competitive new products [3] - The disposable endoscope market is projected to grow significantly, with a global market size of $2.36 billion in 2024 and expected to exceed $11 billion by 2033, reflecting a CAGR of approximately 18.8% [3] - The disposable endoscope is becoming a core growth driver for the company, with ongoing technological advancements and new product launches expected to further penetrate various clinical fields [3] Group 4 - The company is recognized as a leading domestic minimally invasive device manufacturer with a well-established product matrix, and its collaborative R&D continues to generate significant innovative products [4] - The global strategic expansion is accelerating, positioning the company for long-term growth, with projected net profits of 669 million, 806 million, and 970 million yuan for 2025-2027 [4] - The expected EPS for 2025-2027 is 3.56 yuan, 4.29 yuan, and 5.16 yuan, with corresponding PE ratios of 25, 21, and 18 times [4]

一、 调整前利润分配方案内容 公司于2025年8月11日召开第四届董事会第十次会议、第四届监事会第八次 会议，于2025年8月27日召开2025年第二次临时股东大会，分别审议通过了《关 于 <公司2025年半年度利润分配方案> 的议案》，同意公司以实施权益分派的股 权登记日登记的公司总股本扣减公司回购专用证券账户中的股份为基数，向全 体股东每10股派发现金红利人民币5.00元（含税），不送红股，不进行资本公 积金转增股本。在实施权益分派股权登记日前公司总股本发生变化的，则以 为基数，按照维持每股分配比例不变的原则对分配总额进行调整。具体内容详 见2025年8月12日公司刊登于上海证券交易所网站（www.sse.com.cn）的《关于 二、 调整后利润分配方案内容 证券代码：688029 证券简称：南微医学 公告编号：2025-040 南微医学科技股份有限公司 关于调整2025年半年度利润分配现金分红总额的公告 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： ? 南微医学科技股份有限公司（以下简称"公司"）2 ...

Group 1 - The company announced an adjustment to its cash dividend distribution for the first half of 2025, reducing the total amount from RMB 93,462,685.50 (including tax) to RMB 93,415,651.50 (including tax) [2] - The adjustment was due to changes in the total number of shares participating in the profit distribution, which is now 186,831,303 shares [2] - The company will maintain the per-share distribution ratio unchanged, leading to the corresponding adjustment in the total distribution amount [2]

证券代码：688029 证券简称：南微医学 公告编号：2025-040 南微医学科技股份有限公司 关于调整2025年半年度利润分配现金分红总额的公告 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、 调整前利润分配方案内容 公司于2025年8月11日召开第四届董事会第十次会议、第四届监事会第八次 会议，于2025年8月27日召开2025年第二次临时股东大会，分别审议通过了《关 于<公司2025年半年度利润分配方案>的议案》，同意公司以实施权益分派的股 权登记日登记的公司总股本扣减公司回购专用证券账户中的股份为基数，向全 体股东每10股派发现金红利人民币5.00元（含税），不送红股，不进行资本公 积金转增股本。在实施权益分派股权登记日前公司总股本发生变化的，则以 2025年半年度权益分派股权登记日的总股本扣减回购专用证券账户中的股份数 为基数，按照维持每股分配比例不变的原则对分配总额进行调整。具体内容详 见2025年8月12日公司刊登于上海证券交易所网站（www.sse.com.cn）的《关于 2025年 ...

Core Viewpoint - The financial performance of A-share listed companies in Nanjing for the first half of the year shows strong growth, particularly in the banking and securities sectors, driven by their focus on serving the real economy and innovation in technology [1][2][3]. Financial Performance - Nanjing's A-share listed companies have a total market capitalization of approximately 1.81 trillion yuan, with Jiangsu Bank, Nanjing Bank, and Huatai Securities leading in net profits of 20.24 billion yuan, 12.62 billion yuan, and 7.55 billion yuan respectively [1][2]. - Jiangsu Bank reported a revenue of 44.86 billion yuan, an increase of 7.78% year-on-year, and a net profit growth of 8.05% [2]. - Nanjing Bank achieved a revenue of 28.48 billion yuan, with a year-on-year growth of 8.64%, and a net profit increase of 8.84% [2]. - Huatai Securities saw a revenue of 16.22 billion yuan, with a significant year-on-year increase of 31.01%, and a net profit growth of 42.16% [2]. Service to Real Economy - Jiangsu Bank's focus on supporting manufacturing and infrastructure projects led to a manufacturing loan balance of 360.6 billion yuan, growing by 18.90% year-on-year, and infrastructure loans reaching 691.2 billion yuan, up by 31% [3]. - Nanjing Bank emphasized service to key industries, with green finance, inclusive small and micro finance, and technology finance loans growing by 27.79%, 12.51%, and 12.42% respectively [3]. - Huatai Securities maintained a strong development trend by innovating its business and service models [3]. Innovation and Technology - Nanjing Steel's half-year report highlighted a net profit of 1.46 billion yuan, with advanced steel material sales contributing significantly to profits [4][5]. - Nanjing Steel's innovation strategy included breakthroughs in advanced steel materials and participation in national key research projects [5]. - Guodian NARI's report showcased its technological advancements, achieving a revenue of 24.24 billion yuan, up by 19.54% year-on-year, and a net profit of 2.95 billion yuan, growing by 8.82% [6]. Globalization Strategy - Companies like Maolai Optical and Nanwei Medical are leveraging globalization for growth, with Maolai Optical reporting a revenue of 319 million yuan, up by 32.26%, and a net profit increase of 110.36% [7][8]. - Nanwei Medical achieved a revenue of 1.565 billion yuan, with overseas revenue accounting for 58% of total income, reflecting its global expansion efforts [9].

Core Insights - The Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index (000683) has shown a strong increase of 1.32% as of September 5, 2025, with notable gains in constituent stocks such as Zai Lab (688266) up 5.31%, Junshi Biosciences (688180) up 3.89%, and Huatai Medical (688617) up 3.85% [1] - Novartis continues to invest in siRNA technology, recently entering into a significant business development deal with BGI Genomics, involving an upfront payment of $160 million and a total potential milestone value of $5.2 billion [1] - According to Dongfang Securities, the performance of innovative drugs and the industry chain is strong, driven by the commercialization of domestic innovative products and the potential for international expansion [1] Industry Overview - The Sci-Tech Innovation Board Biopharmaceutical Index comprises 50 large-cap companies in the biopharmaceutical, biomedical engineering, biomedicine, and other related sectors, reflecting the overall performance of representative biopharmaceutical companies listed on the Sci-Tech Innovation Board [2] - As of August 29, 2025, the top ten weighted stocks in the index account for 50.27% of the total index, including companies like United Imaging Healthcare (688271) and BeiGene (688235) [2] - The Sci-Tech Biopharmaceutical ETF (588250) closely tracks the performance of the index, providing investors with exposure to the biopharmaceutical sector [2]