公司最新毛利率为64.89%。最新ROE为9.02%，较去年同期ROE增加0.61个百分点。 公司摊薄每股收益为1.94元，较去年同报告期摊薄每股收益增加0.28元，实现3年连续上涨，同比较去年 同期上涨16.87%。 公司最新总资产周转率为0.32次，较去年同期总资产周转率增加0.01次，实现3年连续上涨，同比较去年 同期上涨4.85%。最新存货周转率为0.94次，较去年同期存货周转率增加0.12次，实现2年连续上涨，同 比较去年同期上涨14.77%。 公司股东户数为1.23万户，前十大股东持股数量为1.06亿股，占总股本比例为56.44%，前十大股东持股 情况如下： 2025年8月12日，南微医学(688029.SH)发布2025年中报。 公司营业总收入为15.65亿元，较去年同报告期营业总收入增加2.32亿元，实现5年连续上涨，同比较去 年同期上涨17.36%。归母净利润为3.63亿元，较去年同报告期归母净利润增加5291.65万元，实现3年连 续上涨，同比较去年同期上涨17.04%。经营活动现金净流入为3.02亿元，较去年同报告期经营活动现金 净流入增加2854.06万元，实现3年连续上涨，同比较去年 ...

Performance Summary - In the first half of 2025, the company achieved revenue of 1.565 billion yuan, a year-on-year increase of 17% [1] - The net profit attributable to shareholders was 363 million yuan, also up 17% year-on-year [1] - The net profit excluding non-recurring items was 364 million yuan, reflecting a 19% year-on-year increase [1] - For Q2 alone, revenue reached 866 million yuan, marking a 21% year-on-year growth [1] - The net profit attributable to shareholders for Q2 was 202 million yuan, up 21% year-on-year [1] - The net profit excluding non-recurring items for Q2 was 203 million yuan, a 23% year-on-year increase [1] Operational Analysis - The company is advancing its internationalization strategy, with overseas revenue reaching 899 million yuan, a 44% year-on-year increase [2] - Revenue from the Americas was 341 million yuan, up 22% year-on-year, while Europe, the Middle East, and Africa saw revenue of 416 million yuan, a significant 89% increase [2] - Overseas revenue now accounts for 58% of total revenue, while domestic revenue was 656 million yuan, impacted by price reductions in certain medical consumables [2] - The company invested 88.28 million yuan in R&D, representing 5.64% of its revenue, leading to the market approval of several innovative products [2] - New products and innovative projects are progressing well, with submissions for registration underway [2] Strategic Developments - The company completed the acquisition of 51% of Spanish company Creo Medical S.L.U. in February, enhancing its presence in the European market [3] - The construction and operational preparations for the manufacturing center in Thailand are on track, with production expected to commence by the end of the year, supporting a secure global supply chain [3] Profit Forecast and Valuation - The company forecasts net profits attributable to shareholders of 675 million yuan, 825 million yuan, and 1.012 billion yuan for 2025, 2026, and 2027, respectively, with year-on-year growth rates of 22%, 22%, and 23% [4] - The current price corresponds to a price-to-earnings (PE) ratio of 26, 21, and 17 for the years 2025, 2026, and 2027 [4]

Group 1 - The company plans to distribute a cash dividend of 5.00 yuan (including tax) for every 10 shares, totaling approximately 93.46 million yuan, which represents 25.72% of the net profit attributable to shareholders for the first half of 2025 [1][36][37] - The total share capital as of August 8, 2025, is 187,847,422 shares, with 922,051 shares held in the repurchase account excluded from the dividend distribution [1][37] - The company will not issue bonus shares or increase capital from reserves [1][36] Group 2 - The company has appointed KPMG Huazhen as the new auditing firm for the fiscal year 2025, replacing the previous firm, Gongzheng Tianye [4][17] - The change in auditing firms is due to the company's business development, particularly in overseas markets, and the need to ensure the quality of financial statement audits [4][17] - Both the previous and new auditing firms have been informed of the change and have no objections [4][18] Group 3 - As of June 30, 2025, the company has used a total of approximately 1.70 billion yuan of the raised funds, with a remaining balance of about 47 million yuan [24][26] - The company has established a dedicated account for managing raised funds and adheres to strict approval procedures for their use [27][28] - There were no instances of idle raised funds being temporarily used for working capital during the reporting period [29][30] Group 4 - The company’s board of directors and supervisory board have approved the half-year report and the profit distribution plan, which will be submitted for approval at the upcoming shareholder meeting [50][51] - The company has complied with all relevant regulations regarding the management and disclosure of raised funds, ensuring transparency and accountability [52]

Core Viewpoint - The report highlights the financial performance and growth prospects of Nanwei Medical Technology Co., Ltd., emphasizing its strong revenue growth, strategic focus on innovation, and expansion in both domestic and international markets [1][3][10]. Financial Performance - The company reported a revenue of CNY 1,565,377,051.90 for the first half of 2025, representing a 17.36% increase compared to CNY 1,333,844,008.46 in the same period last year [3]. - The total profit for the period was CNY 449,720,708.02, up 20.54% from CNY 373,095,091.63 year-on-year [3]. - The net profit attributable to shareholders was CNY 363,379,408.08, reflecting a 17.04% increase from CNY 310,462,903.96 in the previous year [3]. - The company plans to distribute a cash dividend of CNY 5.00 per 10 shares, totaling CNY 93,462,685.50, which is 25.72% of the net profit [1]. Industry Overview - The medical device industry is characterized by high technical barriers, strict regulatory oversight, and a long product iteration cycle, necessitating continuous investment in R&D and collaborative innovation [4][9]. - The global medical device market reached USD 512.29 billion in 2022 and is projected to grow at a CAGR of 5.9%, reaching USD 799.67 billion by 2030 [4]. - China's medical device market is the second largest globally, with significant growth potential driven by economic development and improved healthcare standards [4][5]. Market Segments - The endoscopic diagnosis and treatment market is rapidly growing, with the global digestive endoscopy market valued at USD 9.2 billion in 2021 and expected to grow at a CAGR of 5.3% to reach USD 13.1 billion by 2028 [6][7]. - The microwave and radiofrequency ablation market is also expanding, with a projected market size of USD 18.9 billion by 2024, growing at a CAGR of 13.8% until 2030 [6][8]. - The disposable endoscope market is anticipated to reach USD 2.36 billion in 2024, with a CAGR of approximately 16.72%, and is expected to grow to USD 11.06 billion by 2033 [8]. Strategic Initiatives - The company emphasizes innovation and R&D, with an investment of CNY 88.28 million, accounting for 5.64% of revenue [10]. - The company has established a global strategy, enhancing its international presence and operational efficiency through acquisitions and partnerships [12][17]. - The company is focused on improving its product quality and operational efficiency through lean management practices and automation [13][14]. Competitive Advantages - The company possesses a robust R&D capability, a comprehensive quality management system, and an extensive marketing network, which collectively enhance its competitive position in the market [14][15][16]. - The diverse product portfolio includes over 60 types of endoscopic diagnostic instruments and ablation devices, positioning the company as a leader in the domestic market [15][16]. - The company has successfully navigated regulatory challenges and established a strong foothold in both domestic and international markets, reducing reliance on any single market [17].

南微医学科技股份有限公司2025 年半年度报告摘要 公司代码：688029 公司简称：南微医学 南微医学科技股份有限公司 南微医学科技股份有限公司2025 年半年度报告摘要 第一节 重要提示 规划，投资者应当到 www.sse.com.cn 网站仔细阅读半年度报告全文。 公司已在本报告中详细阐述公司在经营过程中可能面临的各种风险及应对措施，敬请查阅本报告 "第三节 管理层讨论与分析"之"四、风险因素"。 完整性，不存在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司拟向全体股东每 10 股派发现金红利 5.00 元（含税）。截至 2025 年 8 月 8 日，公司总 股 本 187,847,422 股，扣减回购专用证券账户中股份总数 922,051 股后的股本为 186,925,371 股，公 司以此为基数计算合计拟派发现金红利 93,462,685.50 元（含税），占合并报表中归属于上市公司 普通股股东净利润 363,379,408.08 元的比例为 25.72%。公司不送红股，不进行资本公积金转增股 本。 □适用 √不适用 第二节 公司基本情况 公司股票简况 上述股东关联关系或一致行动 ...

关于2025年半年度利润分配方案的公告 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。 ? 每股分配比例：南微医学科技股份有限公司（以下简称"公司"）2025 年半年度 A 股每 10 股派发现金红利 5.00 元（含税）。不进行公积金转增股本， 不送红股。 ? 本次利润分配以实施权益分派股权登记日登记的总股本扣减公司回购专 用证券账户中的股份为基数，具体日期将在权益分派实施公告中明确。 ? 在实施权益分派的股权登记日前公司总股本发生变动的，拟维持每股分 配比例不变，相应调整分配总额，并将另行公告具体调整情况。 一、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：2025-031 南微医学科技股份有限公司 重要内容提示： （一）董事会会议的召开、审议和表决情况 公司于2025年8月11日召开第四届董事会第十次会议审议通过了《关于 <公> 司2025年半年度利润分配方案>的议案》，本方案符合《公司章程》规定的利润 分配政策和公司已披露的股东回报规划，董事会同意本次利润分配的方案，并 同意将该方案提交2 ...

南微医学科技股份有限公司 第四届监事会第八次会议决议公告 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、 监事会会议召开情况 南微医学科技股份有限公司（以下简称"公司"）第四届监事会第八次 会议于2025年8月11日在公司会议室以现场结合通讯的方式召开。会议通知 及相关资料以通讯方式于2025年8月8日送达全体监事。会议由监事会主席苏 晶女士主持，应到监事3名，实到监事3名，符合《公司法》及《公司章程》 的有关规定。 证券代码：688029 证券简称：南微医学 公告编号：2025-034 监事会认为：公司2025年半年度利润分配方案充分考虑了公司盈利情况、 现金流状况及资金需求等各种因素，不存在损害中小股东利益的情形，符合 公司经营现状，有利于公司的持续、稳定、健康发展。同意本次方案。 表决结果：3票同意，0票反对，0票弃权 本议案尚需提交股东大会审议。 具体内容详见公司同日刊登于上海证券交易所网站（www.sse.com.cn） 的《南微医学科技股份有限公司关于2025年半年度利润分配方案的公告》 二、 监事会 ...

证券代码：688029 证券简称：南微医学 公告编号：2025-035 南微医学科技股份有限公司 关于召开2025年第二次临时股东大会的通知 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： （三） 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结 合的方式 召开地点：南京江北新区药谷大道 199 号公司 9 楼会议室 至2025 年 8 月 27 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为股 东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过 互联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 （六） 融资融券、转融通、约定购回业务账户和沪股通投资者的投票程序 涉及融资融券、转融通业务、约定购回业务相关账户以及沪股通投资者的投 票，应按照《上海证券交易所科创板上市公司自律监管指引第 1 号 — 规范运作》 等有关规定执行。 （七） 涉及公开征集股东投票权 不涉及 二、 会议审议事项 本次股东大会审议议 ...

Core Viewpoint - Dongwu Securities issued a report on August 11, giving Nanwei Medical (688029.SH, latest price: 92.39 yuan) a "buy" rating based on its increasing overseas revenue proportion and strong international performance [2] Group 1 - The overseas revenue proportion of Nanwei Medical continues to rise [2] - The company is making solid progress in internationalization, with impressive overseas performance [2]

Group 1 - Wanhua Chemical reported a 25.10% decrease in net profit for the first half of 2025, with revenue of 90.90 billion yuan, down 6.35% year-on-year [1][2] - The company's net profit attributable to shareholders was 6.12 billion yuan, while the net profit excluding non-recurring items was 6.24 billion yuan, both showing significant declines [1][2] - Despite challenges such as weak international demand and geopolitical tensions, the chemical industry in China maintained stable development due to domestic consumption upgrades and diversified export markets [2] Group 2 - Satellite Chemical achieved a 33.44% increase in net profit for the first half of 2025, with total assets reaching 69.30 billion yuan, up 5.58% year-on-year [4][5] - The company reported revenue of 23.46 billion yuan, a 20.93% increase compared to the previous year, demonstrating resilience in a complex environment [4][5] - The company is focusing on technological innovation and plans to invest 3 billion yuan in high-performance catalyst projects [5] Group 3 - Shengnong Development reported a 22.02% increase in sales revenue for July 2025, reaching 2.13 billion yuan, with significant growth in both poultry and processed meat segments [6][7] - The company noted a strong performance in high-value channels, with retail channel revenue growing over 30% year-on-year [7] Group 4 - Desay SV reported a 45.82% increase in net profit for the first half of 2025, with revenue of 14.64 billion yuan, up 25.25% year-on-year [8] - The smart cockpit and smart driving businesses contributed significantly to the revenue growth, with sales of 9.46 billion yuan and 4.15 billion yuan respectively [8] Group 5 - New Qianglian reported a remarkable 496.60% increase in net profit for the first half of 2025, with revenue of 2.21 billion yuan, up 108.98% year-on-year [16] - The company demonstrated strong growth in its financial performance, indicating effective operational strategies [16] Group 6 - Fuda Co. reported a 98.77% increase in net profit for the first half of 2025, with revenue of 937 million yuan, up 30.26% year-on-year [18] - The company showed significant growth in net profit excluding non-recurring items, indicating strong operational performance [18] Group 7 - Tianzhun Technology reported a revenue increase of 10.32% for the first half of 2025, reaching 597 million yuan, but still recorded a net loss of 14 million yuan [19] - The company’s total assets grew by 9.99% year-to-date, indicating a positive trend in asset management [19] Group 8 - Huafeng Chemical reported a 35.23% decrease in net profit for the first half of 2025, with revenue of 12.14 billion yuan, down 11.7% year-on-year due to industry downturns [28] - The company faced challenges with declining product prices across various segments, impacting overall profitability [28] Group 9 - The company Zhishang Technology plans to acquire 99.86% of Hengyang Data for 1.15 billion yuan, focusing on AI and cloud computing solutions [29] - This acquisition aims to enhance the company's capabilities in intelligent computing and data processing [29] Group 10 - Huangshanghuang plans to acquire 51% of Lixing Food for 495 million yuan, which will allow it to gain control over the food manufacturing company [30] - This acquisition is part of the company's strategy to expand its product offerings and market presence [30] Group 11 - Beida Pharmaceutical faces significant revenue and profit declines due to the termination of its business cooperation with Peking University International Hospital, projecting a loss of approximately 600 million yuan in sales [31] - The company is exploring new directions for transformation, but faces uncertainty regarding its future operations [31]