赛诺医疗科学技术股份有限公司董事、高管集中竞价减持 以前年度股权激励股归属部分股份计划的公告 本公司董事会、全体董事及相关股东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： 董事、高管持有股份的基本情况 截至本公告披露日，赛诺医疗科学技术股份有限公司（以下简称"赛诺医疗"或"公司"） 董事、副总经理、核心技术人员康小然先生合计持有公司 1,756,399 股，占公司股份总数的 0.4248%。其中，通过持股平台天津阳光福业企业管理合伙企业（有限合伙）间接持有公司 1,084,399 股，占公司股份总数的 0.2623%；通过个人股票账户直接持有公司 672,000 股（股 权激励归属股份），占公司股份总数的 0.1625%。 公司副总经理崔丽野先生合计持有公司 1,794,692 股，占公司股份总数的 0.4341%。其中， 通过持股平台天津阳光德业企业管理合伙企业（有限合伙）间接持有公司 1,626,692 股，占公 司股份总数的 0.3934%；通过个人股票账户直接持有公司 168,000 股（股权激励归属股份）， 占公司股 ...

证券代码：688108 证券简称：赛诺医疗 公告编号：2025-006 赛诺医疗科学技术股份有限公司关于 公司冠脉产品在海外获得注册证的自愿性披露公告 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。 重要内容提示： 赛诺医疗科学技术股份有限公司（以下简称"赛诺医疗"或"公司"）于 2023 年 4 月向 越南卫生部（Ministry of Health，缩写为 MoH）递交了公司 HT Supreme™药物洗脱支架 系统的注册申报资料。公司于近日收到 MoH 通知，递交的注册申报资料获得 MoH 的批 准。现将相关情况公告如下： 一、注册证内容 HT Supreme™药物洗脱支架系统 二、医疗器械基本情况 1、HT Supreme™药物洗脱支架系统 本次在越南社会主义共和国获得注册证的HT Supreme™药物洗脱支架系统是我国支 架厂商自主研发的首个在中国、美国、日本、欧洲同步进行支架上市前临床研究并在前 述国家和地区申请产品注册的心脏支架产品，于 2019 年 12 月获得欧盟 CE 认证，于 2020 年 12 月获 ...

Financial Performance - Total revenue for 2024 reached RMB 458.74 million, a year-on-year increase of 33.64%[3] - Net profit attributable to shareholders was RMB 1.52 million, representing a significant increase of 103.84% compared to the previous year[5] - The basic earnings per share improved to RMB 0.004, a 104.00% increase from the previous year[8] - The weighted average return on equity increased to 0.18%, up 4.93 percentage points from the previous year[3] - The company experienced a significant reduction in losses, with operating profit improving by 75.58% year-on-year[8] - Non-recurring losses decreased, contributing to a 64.79% increase in net profit attributable to shareholders after excluding non-recurring items[12] Assets and Equity - The company's total assets at the end of the reporting period were RMB 1,300.56 million, up 9.68% from the end of the previous year[6] - The net asset value per share rose to RMB 2.10, reflecting a 5.00% increase from the previous year[6] Revenue Growth - Revenue from coronary intervention business grew by 59% due to the implementation of the national centralized procurement policy[7] Research and Development - Research and development expenses totaled RMB 201.92 million, an increase of 21.57% year-on-year, accounting for 44.02% of total revenue[11]

Investment Rating - The report assigns a "Buy" rating for the company, Sainuo Medical (688108.SH), marking its first coverage [1]. Core Viewpoints - Sainuo Medical is a leader in high-end interventional medical devices, with a strong technological foundation and a comprehensive product matrix. The company focuses on the development of products in critical areas such as cardiovascular and cerebrovascular diseases, with over 1.9 million core products used and a significant number of patents globally [1][10]. - The company is expected to experience rapid revenue growth due to technological innovation and business expansion, with projected revenues of 459 million, 596 million, and 774 million yuan for 2024, 2025, and 2026 respectively [1][4]. - The report highlights the strong demand in the coronary intervention market and the accelerating growth of neurointervention procedures, driven by an increasing patient base and favorable national policies [2][37]. Summary by Sections Company Overview - Sainuo Medical was established in 2007 and specializes in high-end interventional medical devices, covering key areas such as cardiovascular and cerebrovascular diseases. The company has a robust product lineup and has achieved significant market penetration [10][11]. - The company has a stable shareholding structure, with the chairman and general manager, Sun Jianhua, holding a significant portion of shares, ensuring alignment of interests between management and shareholders [16][20]. Market Demand and Growth - The coronary intervention market in China is expected to grow significantly, with the number of coronary heart disease patients projected to increase from 25.27 million in 2020 to 31.67 million by 2030, reflecting a CAGR of 2.28% [2][38]. - The report notes that the company’s coronary stents have successfully entered centralized procurement, leading to a substantial increase in revenue, with a 184.51% year-on-year growth in 2023 [24][28]. Financial Performance - The company reported a revenue of 343 million yuan in 2023, a 77.99% increase from the previous year, primarily due to the successful inclusion of its coronary drug-eluting stents in national procurement [24][28]. - The gross margin has remained stable above 55%, indicating strong profitability potential, despite fluctuations in net profit due to market conditions and procurement policies [24][32]. Strategic Initiatives - Sainuo Medical is actively expanding its international presence, with several products registered in mature markets such as Europe and the US, and aims to enhance its global footprint [3][33]. - The company emphasizes continuous investment in research and development, with R&D expenses increasing from 90 million yuan in 2019 to over 106 million yuan in 2023, reflecting its commitment to innovation [31][33].

Investment Rating - The report assigns a "Buy" rating for the company, Sainuo Medical (688108.SH), marking its first coverage [1]. Core Insights - Sainuo Medical is a leader in high-end interventional medical devices, focusing on key areas such as cardiovascular and structural heart diseases. The company has a strong technological foundation with over 190 million units used and holds more than 200 global patents [1][10]. - The company is expected to see rapid revenue growth, with projected revenues of 459 million, 596 million, and 774 million yuan for 2024, 2025, and 2026 respectively. The current stock price corresponds to a P/S ratio of 9.9, 7.6, and 5.9 for the same years, indicating a relatively low valuation compared to peers [1][4]. Summary by Sections Company Overview - Sainuo Medical, established in 2007, specializes in the research, production, and sales of high-end interventional medical devices, covering critical areas such as cardiovascular and cerebrovascular diseases. The company has launched 19 products and has a robust patent portfolio [10][11]. Market Demand and Growth - The coronary intervention market in China is expected to grow significantly due to the increasing prevalence of coronary heart disease, with the number of patients projected to rise from 25.27 million in 2020 to 31.67 million by 2030, reflecting a CAGR of 2.28% [2][38]. - The company has successfully entered the national centralized procurement for coronary stents, leading to a 99% year-on-year revenue increase in its coronary intervention business [2][28]. Financial Performance - The company reported a revenue of 343 million yuan in 2023, a 78% increase from the previous year, with a projected revenue of 459 million yuan for 2024. The gross margin for 2023 was 58.9%, indicating strong profitability [4][24]. - The net profit is expected to improve significantly, with projections of -10 million yuan in 2024 turning to 24 million yuan in 2025 and 58 million yuan in 2026 [4][24]. Strategic Initiatives - Sainuo Medical is actively expanding its international presence, with several products registered in mature markets such as Europe and the US. The company emphasizes talent development and has established subsidiaries in key regions to support its global strategy [3][33].

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for future performance [3]. Core Viewpoints - The neurointerventional industry is entering a rapid growth phase, with the market size expected to increase from RMB 58 billion in 2020 to RMB 175 billion by 2026, representing a compound annual growth rate (CAGR) of 20.1% from 2020 to 2026 [1][26]. - The company is a leading player in the domestic neurointerventional market, with a comprehensive product portfolio that includes various fields such as acute ischemia, stenosis, hemorrhage, and access [1]. - The company is expected to recover from previous losses and achieve profitability, with projected revenues of approximately RMB 4.48 billion, RMB 5.78 billion, and RMB 7.00 billion for 2024, 2025, and 2026, respectively [3][5]. Summary by Sections Company Overview - The company was established in 2007 and began its neurointerventional business in 2016, listing on the STAR Market in 2019 as the first company from Tianjin [1]. - The company's revenue from its neurointerventional product line, including the SINO SHENCHANG brand, is projected to reach approximately RMB 178 million in 2023, reflecting a year-on-year growth of 65.3% [1]. Neurointerventional Market - The neurointerventional market is characterized by high barriers to entry and high margins, with the introduction of new products expected to significantly enhance the company's profitability [2]. - The market for neurointerventional medical devices in China is projected to grow rapidly, driven by increasing disease prevalence, a growing number of qualified surgeons, and the development of domestic medical devices [19][26]. Product Pipeline and Innovations - The company's main neurointerventional products include the NOVA stent, which is the world's first drug-eluting stent specifically designed for treating intracranial artery stenosis, and various balloon products [2][32]. - The company is also advancing its pipeline with new products such as self-expanding drug-eluting stents and flow-directed anti-coagulation coated stents, which are expected to drive future growth [2][34]. Financial Projections - The company is expected to achieve a net profit of approximately RMB 33 million in 2025 and RMB 76 million in 2026, with significant year-on-year growth rates of 701.4% and 130.4%, respectively [3][5]. - The projected revenue growth rates for 2024, 2025, and 2026 are 30.6%, 29.0%, and 21.1%, respectively [3][5]. Competitive Landscape - The company faces competition from other players in the neurointerventional space, but its NOVA stent has a unique first-mover advantage in the market [2][38]. - The overall market for neurointerventional devices is expected to see increased competition, but the company's established position and innovative products are likely to maintain its competitive edge [2][19].

Investment Rating - The report gives a "Buy" rating for the company, indicating a positive outlook for future performance [3]. Core Views - The neurointerventional industry is entering a rapid growth phase, with the market size expected to increase from RMB 58 billion in 2020 to RMB 175 billion by 2026, representing a compound annual growth rate (CAGR) of 20.1% from 2020 to 2026 [1][26]. - The company is a leading player in the domestic neurointerventional market, with a comprehensive product portfolio that includes various fields such as acute ischemia, stenosis, hemorrhage, and access [1][3]. - The company is expected to recover from previous losses and achieve profitability, with projected revenues of approximately RMB 4.48 billion, RMB 5.78 billion, and RMB 7.00 billion for 2024, 2025, and 2026, respectively [3][5]. Summary by Sections Neurointerventional Market - The neurointerventional market is characterized by a significant increase in the number of procedures, with an expected CAGR of 28.9% from 2020 to 2026 [22][23]. - The market for neurointerventional medical devices is projected to grow from RMB 28 billion in 2015 to RMB 175 billion by 2026, driven by rising disease prevalence and advancements in domestic medical devices [26][28]. Company Overview - The company was established in 2007 and began its neurointerventional business in 2016, listing on the STAR Market in 2019 [1]. - The company's flagship product, the NOVA stent, is the world's first drug-eluting stent specifically designed for intracranial artery stenosis, which is expected to drive significant revenue growth [2][38]. Financial Projections - The company is projected to achieve revenues of RMB 343 million in 2023, with a growth rate of 78.0%, and is expected to turn profitable by 2025 [5][3]. - The forecasted net profit for 2024 is expected to be RMB 0.33 billion, with a year-on-year growth rate of 86.1% [5][3]. Competitive Landscape - The company holds a competitive advantage with its NOVA stent, which has shown significant clinical efficacy compared to bare metal stents, and is positioned well in a market with limited competition [2][38]. - The neurointerventional product pipeline includes several high-barrier, high-margin new products that are anticipated to enhance the company's profitability [2][3].

证券代码：688108 证券简称：赛诺医疗 公告编号：2025-004 赛诺医疗科学技术股份有限公司关于 公司冠脉产品在海外获得注册证的自愿性披露公告 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。 重要内容提示： 赛诺医疗科学技术股份有限公司（以下简称"赛诺医疗"或"公司"）于 2024 年 9 月向阿根廷共和国国家药品、食品和医疗技术管理局 Administración Nacional de Medicamentos, Alimentos y Tecnología Médica，（以下简称"ANMAT"）递交了公司 HT Supreme™药物洗脱支架系统的注册申报资料。于 2024 年 10 月向厄瓜多尔共和国国家 卫生监管控制与监督局 Agencia Nacional de Regulación, Control y Vigilancia Sanitaria，（以下简称"ARCSA"）递交了公司 HT Supreme™药物洗脱支架系统、Tytrak PTCA 球囊扩张导管以及 NC Thonic 非顺应性 PTCA ...

Revenue Projections - The company expects revenue for 2024 to be between 446.4 million and 461.3 million CNY, representing a year-on-year increase of 30% to 34%[3]. Profit Projections - The net profit attributable to shareholders is projected to range from -20 million to 3.7 million CNY, an increase of 1.963 million to 4.333 million CNY compared to the previous year, reflecting a growth of 50% to 109%[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses is expected to be between -40 million and -15.3 million CNY, an increase of 971 thousand to 3.441 million CNY, indicating a growth of 20% to 69%[3]. Business Segment Growth - The coronary intervention business is anticipated to see a revenue increase of 59% year-on-year, driven by the implementation of the national volume-based procurement policy and increased sales of two stent products[5][6]. - The neuro-intervention business is expected to grow by 6% to 15%, primarily due to increased sales of intracranial stents despite a slight decrease in unit price[6]. Cost Management - Operating costs are projected to increase, but at a rate lower than revenue growth, due to economies of scale leading to a decrease in unit costs[7]. - Sales expenses are expected to rise, but the growth rate will be lower than that of revenue, reflecting increased marketing costs[8]. - Management expenses are anticipated to decrease slightly due to the production commencement of a subsidiary, leading to reduced operational costs[9]. - R&D expenses are expected to grow, but at a rate lower than revenue growth, due to increased project activity and milestone achievements[10]. - Asset impairment losses are projected to increase significantly due to low capacity utilization at a subsidiary, resulting in higher fixed cost allocation per product[11].