Financial Performance - The company's revenue for Q3 2025 was ¥357,723,444.32, representing a decrease of 8.17% compared to the same period last year[3] - The total profit for the period was ¥80,847,202.96, down 35.46% year-on-year[3] - Net profit attributable to shareholders was ¥76,848,645.53, a decline of 29.85% compared to the previous year[3] - Basic earnings per share for the period were ¥0.40, reflecting a decrease of 31.03% year-on-year[3] - Total operating revenue for the first three quarters of 2025 reached ¥1,144,414,504.11, an increase of 6.4% compared to ¥1,075,267,105.77 in the same period of 2024[18] - Net profit for the first three quarters of 2025 was ¥278,623,253.61, a decrease of 8.4% from ¥304,046,515.08 in the previous year[19] - Earnings per share (EPS) for the first three quarters of 2025 was ¥1.51, down from ¥1.68 in the same period of 2024[20] Assets and Liabilities - Total assets at the end of the period were ¥3,902,983,843.01, an increase of 11.61% from the end of the previous year[5] - Total assets increased to ¥3,902,983,843.01 from ¥3,496,968,135.88, representing a growth of 11.6%[16] - Total liabilities rose to ¥894,960,084.85, compared to ¥862,711,621.16, indicating an increase of 3.4%[16] - The company's goodwill increased to ¥190,861,311.37 from ¥139,107,544.38, marking a rise of 37.0%[15] Cash Flow - The net cash flow from operating activities for the year-to-date was ¥230,096,531.01, an increase of 6.01%[3] - Cash inflow from operating activities for the first three quarters of 2025 reached approximately $1.15 billion, an increase of 11.5% compared to $1.03 billion in the same period of 2024[25] - Net cash flow from operating activities amounted to $230.1 million, up from $217.1 million year-over-year, reflecting a growth of 6.9%[25] - Cash inflow from investment activities significantly increased to $1.00 billion, compared to $215.3 million in the first three quarters of 2024, marking a substantial rise of 365.5%[25] - The net cash flow from investment activities turned positive at $38.3 million, a recovery from a negative $597.1 million in the previous year[25] - Total cash and cash equivalents at the end of the period stood at $680.1 million, a significant increase from $266.2 million at the end of Q3 2024[26] - Cash inflow from financing activities decreased to $322.0 million from $492.0 million in the same period last year, reflecting a decline of 34.6%[25] - The net cash flow from financing activities was $49.1 million, down from $114.5 million in the previous year, indicating a decrease of 57.1%[25] - The company reported a net increase in cash and cash equivalents of $316.2 million, contrasting with a decrease of $265.6 million in the same period last year[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 17,214[11] - The largest shareholder, Jie Jiangbing, holds 24,490,410 shares, representing 12.66% of total shares[11] - The company has a total of 10 major shareholders, with the top two holding a combined 18.31% of shares[12] - The company reported no significant changes in the participation of major shareholders in margin trading and securities lending[12] Research and Development - Research and development expenses totaled ¥36,985,646.67, accounting for 10.34% of revenue, an increase of 0.09 percentage points[5] - Research and development expenses for the first three quarters were ¥70,221,069.34, a decrease of 9.2% from ¥77,654,725.68 in the previous year[19] Operational Insights - The decline in total profit was primarily due to decreased revenue from artificial lenses and contact lenses, influenced by national procurement policies and market competition[9] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[13] - There are no significant reminders or additional important information regarding the company's operational situation during the reporting period[13] - The company adjusted its financial statements due to a change in accounting standards, resulting in an increase in operating costs by ¥6,489,041.81[21] Other Financial Metrics - Total operating costs amounted to ¥830,567,968.09, up from ¥720,300,574.45, reflecting a year-over-year increase of 15.3%[18] - The return on equity was 2.74%, a decrease of 3.12 percentage points compared to the previous year[5] - The company reported non-recurring gains of ¥1,524,008.91 for the period[7] - Non-current assets decreased from ¥1,834,000,000 to ¥1,800,000,000, a decline of 1.84%[14] - Total current assets increased to ¥1,587,115,954.59 from ¥1,180,629,881.84, reflecting a growth of 34.38%[14] - Accounts receivable rose to ¥498,459,333.41 from ¥353,147,013.28, an increase of 41.16%[14] - The company received $991.2 million from investment recoveries, a significant increase from $214.9 million in the previous year, representing a growth of 361.5%[25]

Core Insights - The increasing prevalence of myopia among Chinese youth has led to a rise in the use of orthokeratology lenses (OK lenses), which in turn drives the demand for lens care solutions [1][10] - The market for orthokeratology lens care solutions is projected to reach a consumption population of 2.7943 million by 2024, with a year-on-year growth of 10.46% [1][10] - The total demand for orthokeratology lens care solutions in China is expected to reach 52.6437 million liters, with a market size of 5.758 billion yuan in 2024 [1][11] Industry Overview - Orthokeratology lenses are classified as Class III medical devices by the National Medical Products Administration of China, designed to temporarily reshape the cornea and are effective in controlling myopia progression [2][4] - The care solutions for these lenses are essential for cleaning, disinfecting, and maintaining a safe storage environment, ensuring user comfort and safety [2][3] Market Demand and Supply - The demand for orthokeratology lens care solutions is segmented into three categories: lubricating solutions (38.43%), care solutions (24.89%), and cleaning solutions (36.68%) [1][11] - The largest sales channel for these care solutions is hospitals, accounting for 69.5% of sales, with public hospitals at 35.5% and private hospitals at 34.0% [7] Development Background - The industry has evolved significantly since 1992, when Bausch & Lomb established a production line in Shanghai, marking the beginning of the domestic lens care solution market [4][5] - The introduction of domestic brands in 2003, such as Haichang, has increased competition and reduced reliance on imported products [4] Competitive Landscape - The market has traditionally been dominated by foreign brands like Bausch & Lomb and Mylacon, but domestic brands such as Oupai Kangshi and Aibonuode are gaining market share due to competitive pricing and distribution strategies [11][12] - Oupai Kangshi reported a revenue of 871 million yuan in the first half of 2025, with care products contributing 12.58% of total revenue [13] - Aibonuode achieved a revenue of 787 million yuan in the same period, with a gross profit margin of 65.25% [13] Future Trends - The future of orthokeratology lens care solutions will likely include enhanced formulations with beneficial ingredients like Vitamin B and sodium hyaluronate to improve comfort and moisture retention [14] - Customization of products for specific user needs, such as preservative-free solutions for sensitive eyes, is expected to become more prevalent [14]

Core Viewpoint - The article highlights the achievements and growth of Aibo Medical, a leading company in the ophthalmology sector in China, emphasizing its commitment to innovation and social responsibility in the context of the "14th Five-Year Plan" [1][4][14]. Group 1: Company Overview - Aibo Medical provides comprehensive solutions for ophthalmic surgery, refractive correction, and vision care, covering three main areas: surgical treatment, myopia prevention, and vision health [1]. - The company successfully listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board in 2020, marking the beginning of its large-scale expansion [1]. Group 2: Innovation and R&D - Innovation is a core value for Aibo Medical, which has launched several groundbreaking products, including the first non-spherical artificial lens in China and a toric lens for astigmatism [4][5]. - The R&D team has expanded nearly threefold in the past five years, leading to the approval of three self-developed products through special review procedures [4][5]. - As of the end of 2024, Aibo Medical holds a total of 256 authorized patents, with over half obtained in the last five years [5]. Group 3: Market Expansion and Product Development - Aibo Medical has developed a rich product pipeline and improved its distribution network, covering over 6,000 hospitals and vision centers across China and exporting to more than 30 countries [8]. - The company has established itself as a rising force in the vision care sector through strategic acquisitions and R&D, focusing on a comprehensive solution for myopia prevention [8]. Group 4: Employee Development and Corporate Responsibility - Aibo Medical emphasizes employee growth and welfare, with over 2,200 employees, 58% of whom are women, and 50% of senior management being female [9]. - The company has conducted over 400 training sessions in the past five years and implemented long-term incentive measures to retain key talent [9]. Group 5: Industry Standards and Social Contributions - Aibo Medical actively participates in setting industry standards and has established training bases to enhance the skills of over 550 industry personnel [10]. - The company supports various social initiatives, including international aid projects and donations of medical supplies to underserved regions in China [11]. - Aibo Medical promotes public awareness of eye health through community outreach and educational programs, contributing to the "Healthy China 2030" initiative [11].

Core Viewpoint - The article highlights the recent approval of four innovative medical devices by the National Medical Products Administration in China, indicating a growing trend in the development and registration of innovative medical technologies in the country [1][8]. Group 1: Approved Products - The approved products include: 1. "Extended Depth of Focus Intraocular Lens" by Aibono Medical Technology Co., Ltd. [1] 2. "Cardiac Cryoablation Device" and "Single-use Sterile Cryoablation Probe" by Shenyang Pengyue Technology Co., Ltd. [1][8] 3. "Cross-linked Polyisobutylene Aspheric Intraocular Lens" by Xi'an Yandale Medical Technology Co., Ltd. [1][8] - As of now, a total of 373 innovative medical devices have been registered in China [1]. Group 2: Company Profiles - Aibono Medical Technology Co., Ltd. is an innovative ophthalmic medical device manufacturer listed on the Sci-Tech Innovation Board, focusing on cataract surgery, myopia control, and vision care solutions. The company reported a total revenue of 787 million yuan (approximately $114 million) with a year-on-year growth of 14.72% and a net profit of 213 million yuan (approximately $31 million) with a growth of 2.53% in the first half of 2025 [6]. - Shenyang Pengyue Technology Co., Ltd., established in 2020, specializes in digital intelligent precision medical fields and has developed a cardiac cryoablation system with independent intellectual property rights [10]. - Xi'an Yandale Medical Technology Co., Ltd. focuses on intraocular lenses for cataract treatment and is led by a team of experts, including members from the American Academy of Engineering [18]. Group 3: Product Details - The "Extended Depth of Focus Intraocular Lens" is designed for vision correction after cataract surgery, featuring a one-piece, foldable design made from a combination of ethyl acrylate and methyl methacrylate [5]. - The "Cardiac Cryoablation Device" is used for treating persistent atrial fibrillation in adult patients, utilizing argon gas for rapid cooling of myocardial cells [9]. - The "Cross-linked Polyisobutylene Aspheric Intraocular Lens" is notable for its high refractive index and is designed for implantation through a small incision, providing an improved visual experience for cataract patients [15].

Group 1: Institutional Research on Popular Companies - The top twenty companies with the highest number of institutional research visits in the past 30 days include Mindray Medical, Huichuan Technology, United Imaging Healthcare, Shenzhen South Circuit, and Aibo Medical [11][13] - In the last five days, the most popular companies for institutional research include Jepu Tech, Ganli Pharmaceutical, Shiji Information, Guangri Co., and Nenghui Technology [11][12] - Among the top twenty companies in the past 30 days, 12 companies had 10 or more rating agencies involved, with significant profit growth expected for Lankai Technology, Huichuan Technology, and Sanhua Intelligent Control in their 2025 mid-year reports compared to 2024 [11][12] Group 2: Shareholder Increase and Buyback Strategies - From September 22 to September 26, 2025, four listed companies announced significant shareholder increases [18] - A total of 71 companies announced buyback progress during the same period, with 22 of them having 10 or more rating agencies involved [24] - From January 1 to September 26, 2025, 274 companies announced shareholder increases, with 86 of them having 10 or more rating agencies involved [20] Group 3: Buyback Situation - From January 1 to September 26, 2025, 1,747 companies announced buyback progress, with 414 of them having 10 or more rating agencies involved [26] - Among these, 108 companies had a buyback amount that exceeded 1% of their market value on the announcement date [26][27] - Specific companies in the buyback phase include Chengde Lulu, Liugong, Shantui, Huaming Equipment, Jian Sheng Group, Ruoyu Chen, and China Jushi [27]

Core Insights - The main point of the news is the net inflow of capital in the Shanghai and Shenzhen stock markets, amounting to 9.527 billion yuan, with a notable outflow in the Sci-Tech Innovation Board [1] Group 1: Market Overview - The total net inflow of capital in the Shanghai and Shenzhen markets was 9.527 billion yuan, with the Sci-Tech Innovation Board experiencing a net outflow of 4.624 billion yuan [1] - A total of 210 stocks saw net inflows, while 377 stocks experienced net outflows [1] Group 2: Stock Performance - On the Sci-Tech Innovation Board, 404 stocks increased in value, with three stocks hitting the daily limit up, including Pinming Technology and Fuzhi Environmental Protection [1] - Among the stocks with net inflows, 9 stocks had inflows exceeding 100 million yuan, with Lanqi Technology leading at 302 million yuan [2] - The stocks with the highest net outflows included Haiguang Information, which saw a net outflow of 1.077 billion yuan, followed by Chip Origin and Crystal Integration with outflows of 297 million yuan and 267 million yuan, respectively [1][2] Group 3: Continuous Capital Flow - There were 39 stocks with continuous net inflows for more than three trading days, with Hanwujing leading at 29 consecutive days [2] - A total of 166 stocks experienced continuous net outflows, with Aibo Medical leading at 15 consecutive days [2] Group 4: Detailed Stock Data - The top stocks by net inflow included: - Lanqi Technology: 301.69 million yuan, 4.29% inflow rate, 7.93% increase [2] - Zhongwei Company: 271.03 million yuan, 4.45% inflow rate, 5.17% increase [2] - Wealth Trend: 155.91 million yuan, 9.66% inflow rate, 7.51% increase [2] - The stocks with the highest net outflows included: - Haiguang Information: 1.077 billion yuan, 1.26% decrease [1] - Chip Origin: 297 million yuan, 2.67% decrease [1] - Crystal Integration: 267 million yuan, 2.67% decrease [1]

Core Viewpoint - Aibo Medical has received approval from the National Medical Products Administration for its "Extended Focus Artificial Lens" through the special review for innovative medical devices [2] Company Summary - Aibo Medical announced the registration approval of its "Extended Focus Artificial Lens" [2] Industry Summary - The approval signifies a positive development in the medical device sector, particularly in innovative ophthalmic solutions [2]

Core Viewpoint - Aibo Medical has received approval from the National Medical Products Administration for its "Extended Depth of Focus Intraocular Lens," marking a significant advancement in high-end refractive intraocular lenses for cataract surgery [1] Company Summary - Aibo Medical's new product is designed for vision correction in adults who have undergone cataract surgery and have no natural lens [1] - The lens utilizes advanced aspheric design to extend the depth of focus, improving intermediate vision while maintaining distance vision [1] - The product aims to reduce dependency on glasses for patients post-surgery [1]

Core Viewpoint - Aibo Medical has received approval from the National Medical Products Administration for its "Extended Depth of Focus Intraocular Lens," marking a significant advancement in high-end refractive intraocular lenses for vision correction post-cataract surgery [1]. Company Summary - Aibo Medical's new product is designed for adults who have undergone cataract surgery and have no natural lens, aiming to improve intermediate vision while maintaining distance vision [1]. - The lens utilizes advanced aspheric design to enhance depth of focus without significantly compromising distance vision, thereby reducing dependence on glasses [1].

爱博诺德（北京）医疗科技股份有限公司（以下简称"公司"）之"焦深延 长型人工晶状体"于近日通过国家药品监督管理局创新医疗器械特别审查获准注 册，现将相关情况公告如下： 一、产品基本信息 产品名称：焦深延长型人工晶状体 型号、规格：型号：AE2UV；AE2UL22（预装式焦深延长型人工晶状体）、 AE2UL24（预装式焦深延长型人工晶状体）、AE2UL28（预装式焦深延长型人工 晶状体）；规格（光焦度）：-10.0～+36.0D，每 0.5D 一个间隔。 适用范围：适用于成年人白内障摘除手术后无晶状体眼的视力矫正，通过扩 展焦深改善中视力以降低对眼镜的依赖程度。 注册类别：Ⅲ类 注册证编号：国械注准 20253161914 证券代码：688050 证券简称：爱博医疗 公告编号：2025-050 爱博诺德（北京）医疗科技股份有限公司 关于焦深延长型人工晶状体通过创新医疗器械特别 审查程序获批上市的自愿披露公告 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。 公司尚无法预测该医疗器械对公司未来业绩的影响，敬请广大投资者予以关 注 ...