Investment Rating - The investment rating for the company is "Accumulate" [4] Core Views - The company reported a stable recovery in performance with a slight increase in revenue and a decrease in net profit for 2024. Revenue reached 2.284 billion yuan, a year-on-year increase of 0.13%, while net profit attributable to shareholders was 367 million yuan, a decline of 9.71% [1][2] - The company has shown a strong growth trajectory in new industries, with a 21.25% increase in revenue from new sectors, which now account for 45.47% of total revenue, reflecting a 7.93 percentage point increase year-on-year [2] - The life sciences segment generated 1.094 billion yuan in revenue, up 6.14% year-on-year, driven by automation and intelligent solutions in laboratory settings [3] - The medical innovation segment saw revenue of 1.180 billion yuan, a decline of 4.91%, but excluding the solar vaccine program, it showed positive growth [4] - Domestic revenue remained resilient with a 4.75% increase, while overseas revenue decreased by 8.73%, although it is expected to accelerate in 2025 [8] Summary by Sections Financial Performance - In 2024, the company achieved total revenue of 2.284 billion yuan, with a slight year-on-year growth of 0.1%. The net profit attributable to shareholders was 367 million yuan, down 9.7% from the previous year [1][10] - The gross margin for 2024 was 48.0%, a decrease of 2.64 percentage points, but if adjusted for accounting policy changes, it would be 50.43%, indicating stability [2] Business Segments - The life sciences segment's revenue reached 1.094 billion yuan, growing 6.14% year-on-year, focusing on automation and intelligent solutions [3] - The medical innovation segment generated 1.180 billion yuan, with a decline of 4.91%, but showed strong growth in hospital automation services [4] Market Outlook - The company anticipates revenue growth of 2.620 billion yuan in 2025, with a projected net profit of 446 million yuan, reflecting a year-on-year increase of 21.7% [9][10] - The overseas market is expected to see significant acceleration in 2025, with the company establishing localized teams in over 150 countries [8]

Core Viewpoint - The company reported its 2024 annual results, showing a slight revenue increase but a decline in net profit, with expectations for significant growth in overseas markets in 2025 [1][2]. Financial Performance - In 2024, the company achieved revenue of 2.28 billion yuan (+0.1%) and a net profit attributable to shareholders of 367 million yuan (-9.7%), with a non-recurring net profit of 321 million yuan (-2.9%) [1]. - Quarterly revenue for 2024 was 690 million yuan in Q1, 540 million yuan in Q2, 560 million yuan in Q3, and 500 million yuan in Q4, showing a quarterly growth of +0%, -8.1%, +0.5%, and +10.4% respectively [1]. - Quarterly net profit attributable to shareholders was 140 million yuan in Q1, 97 million yuan in Q2, 75 million yuan in Q3, and 57 million yuan in Q4, with changes of +0.1%, -31.4%, -5%, and +17.6% respectively [1]. Business Segments - The storage segment experienced negative growth, but excluding the solar vaccine cold storage, it remained flat; non-storage revenue grew by 21% [1]. - The low-temperature storage business faced challenges but showed improvement, with the decline primarily due to delays in solar vaccine orders. The second half of the year saw a narrowing decline, achieving positive growth in Q4 [2]. - Non-low-temperature storage equipment, including automated medication, laboratory consumables, and digital public health, continued to grow rapidly [2]. Market Expansion - The company is deepening its global presence, with overseas markets (excluding solar vaccine solutions) achieving double-digit growth. The company has established localized teams in key countries such as the USA, UK, Netherlands, Singapore, and India [2]. - The company has received local certification for 56 new product models, totaling over 400 overseas product certifications, and is accelerating local construction to shorten product delivery cycles [2]. Profit Forecast - The company forecasts net profit attributable to shareholders of 440 million yuan in 2025, 520 million yuan in 2026, and 600 million yuan in 2027, indicating steady growth and potential for future acquisitions [3].

Group 1 - The company announced a share repurchase plan with a total expected amount between 100 million and 200 million RMB [1][2] - The repurchase plan was approved on January 13, 2025, and will be implemented within 12 months [1] - The repurchased shares will be used for employee stock ownership plans or equity incentives [1] Group 2 - As of March 31, 2025, the company has repurchased a total of 524,614 shares, accounting for 0.1650% of the total share capital [1] - The total amount spent on repurchased shares is 17,467,616.72 RMB, with an average price range of 31.78 RMB to 34.69 RMB per share [1] - The company will continue to make repurchase decisions based on market conditions and will fulfill information disclosure obligations [2]

重要内容提示： | 回购方案首次披露日 | 2025/1/14 | | --- | --- | | 回购方案实施期限 | 第三届董事会第四次会议审议通过后 12 个月 | | 预计回购金额 | 10,000 万元~20,000 万元 | | 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 | 524,614 股 | | 累计已回购股数占总股本比例 | 0.1650% | | 累计已回购金额 | 17,467,616.72 元 | | 实际回购价格区间 | 31.78 元/股~34.69 元/股 | 一、 回购股份的基本情况 青岛海尔生物医疗股份有限公司（以下简称"公司"）于 2025 年 1 月 13 日召 开第三届董事会第四次会议，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》（以下简称"本次回购方案"），同意公司以自有资金通过上海证券 交易所股票交易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）。回购的股份将在未来适宜时机全部用于员工持股计划或股权激励，回购价格 不 ...

Core Viewpoint - Haier Biomedical's stock closed at 34.58 yuan, down 2.40%, with a rolling PE ratio of 29.99 times and a total market capitalization of 10.995 billion yuan [1] Group 1: Company Overview - Haier Biomedical focuses on providing optimal user experiences for life science users, including pharmaceutical companies, research institutions, and healthcare users, through two main segments: life sciences and medical innovation [2] - The company offers comprehensive digital solutions represented by smart laboratories, digital hospitals, and smart public health [2] - Key products include low-temperature storage boxes, automated biological sample storage, and various automated medication products [2] Group 2: Financial Performance - In the latest annual report for 2024, the company achieved operating revenue of 2.284 billion yuan, a year-on-year increase of 0.13%, and a net profit of 367 million yuan, a year-on-year decrease of 9.71% [3] - The sales gross margin stood at 47.99% [3] Group 3: Market Position - The average PE ratio for the medical device industry is 44.72 times, with a median of 32.59 times, placing Haier Biomedical at the 69th position in the industry [1][3] - As of February 28, 2025, the number of shareholders increased to 13,246, with an average holding value of 352,800 yuan and an average holding of 27,600 shares [1]

公募基金方面本期较上一季度持股减少的公募基金共计1个，即华宝中证医疗ETF，持股减少占比小幅 下跌。本期较上一季度新披露的公募基金共计35个，主要包括科创100ETF基金、科创100、鹏华优质治 理混合(LOF)A、医疗器械ETF、中信保诚精萃成长混合A等。本期较上一季未再披露的公募基金共计7 个，主要包括广发安润一年持有期混合A、广发集远债券A、国泰君安创新医药混合发起A、汇添富中 证互联网医疗指数(LOF)A、国泰君安品质生活混合发起A等。 2025年3月29日，海尔生物(688139.SH)发布2024年年度报告。截至2025年3月28日，共有56个机构投资 者披露持有海尔生物A股股份，合计持股量达2.03亿股，占海尔生物总股本的63.76%。其中，前十大机 构投资者包括青岛海尔生物医疗控股有限公司、青岛海智汇赢股权投资管理有限公司-青岛海创睿股权 投资基金中心(有限合伙)、天津海盈康企业管理合伙企业(有限合伙)、天津海创盈康企业管理合伙企业 (有限合伙)、香港中央结算有限公司、青岛久实投资管理有限公司-久实优选1号私募证券投资基金、施 罗德投资管理(香港)有限公司-施罗德环球基金系列中国A股(交易所) ...

Core Viewpoint - The company focuses on providing integrated digital solutions in the life sciences and medical innovation sectors, leveraging advanced technologies to enhance user experience and drive industry transformation [5][6][25]. Company Overview - The company operates in two main segments: life sciences and medical innovation, offering solutions such as smart laboratories and digital hospitals [5]. - The company has established a strong global presence, with products and solutions applied in over 150 countries and regions [6][26]. Business Model - The company maintains a comprehensive control over the entire process from research and development to sales and after-sales service [7]. - The procurement process involves rigorous supplier qualification and just-in-time inventory management [8]. Industry Situation - The life sciences and medical innovation sectors are experiencing growth driven by increased demand for integrated solutions and advancements in technology [12][21]. - The global life sciences tools market is projected to reach $330.69 billion by 2030, with significant growth in the Asia-Pacific region [12]. Technological Advancements - The company has developed six major technology platforms and holds 1,595 patents, positioning itself as a leader in biomedicine and low-temperature technology [25]. - The integration of IoT, cloud computing, and AI into the company's offerings is expected to enhance operational efficiency and user experience [27][28]. Financial Highlights - The company plans to distribute a cash dividend of 4.7 yuan per 10 shares, totaling approximately 147.8 million yuan [3]. Future Development Trends - The industry is shifting towards automation and intelligent solutions, with a focus on enhancing operational efficiency and reducing costs [28][29]. - The company aims to capitalize on the growing demand for digital solutions in healthcare, driven by national policies and technological advancements [17][19][31].

青岛海尔生物医疗股份有限公司 证券简称：海尔生物 证券代码：688139 上海荣正企业咨询服务（集团） 股份有限公司 关于 2024 年限制性股票激励计划 预留授予相关事项 之 独立财务顾问报告 1. 上市公司、公司、海尔生物：指青岛海尔生物医疗股份有限公司。 2. 股权激励计划、限制性股票激励计划、本激励计划、激励计划：指《青 岛海尔生物医疗股份有限公司 2024 年限制性股票激励计划（草案）》。 2025 年 3 月 | 一、释义 | 3 | | --- | --- | | 二、声明 | 4 | | 三、基本假设 | 5 | | 四、独立财务顾问意见 | 6 | | 五、备查文件及咨询方式 | 11 | 一、释义 3. 限制性股票、第二类限制性股票：符合激励计划授予条件的激励对象在 满足相应的获益条件后分次获得并登记的公司 A 股普通股股票。 4. 股本总额：指公司股东大会审议通过本计划时公司已发行的股本总额。 5. 激励对象：按照本激励计划规定，获得限制性股票的公司（含全资、控 股子公司，下同）任职的董事、高级管理人员和核心骨干员工。 6. 授予日：指公司向激励对象授予限制性股票的日期，授予日必须为交易 ...

2024年度 青岛海尔生物医疗股份有限公司 目 录 | | 页 | | 次 | | --- | --- | --- | --- | | 审计报告 | 1 | - | 5 | | 已审财务报表 | | | | | 合并资产负债表 | 6 | - | 7 | | 合并利润表 | 8 | - | 9 | | 合并股东权益变动表 | 10 | - | 11 | | 合并现金流量表 | 12 | - | 13 | | 公司资产负债表 | 14 | - | 15 | | 公司利润表 | | 16 | | | 公司股东权益变动表 | 1 7 | - | 18 | | 公司现金流量表 | 19 | - | 20 | | 财务报表附注 | 21 | - | 121 | | 补充资料 | | | | | 1.非经常性损益明细表 | | 1 | | | 2.净资产收益率和每股收益 | | 2 | | 青岛海尔生物医疗股份有限公司 已审财务报表 我们审计了青岛海尔生物医疗股份有限公司的财务报表，包括2024年12月31日的合 并及公司资产负债表，2024年度的合并及公司利润表、股东权益变动表和现金流量表以 及相关财务报表附注。 我们 ...

2024 青岛海尔生物医疗股份有限公司（以下简称"公司"）聘请安永华明会计师 事务所（特殊普通合伙）（以下简称"安永华明"）作为公司2024年度境内财务 报告审计机构和内部控制审计机构。 根据财政部、国务院国有资产监督管理委员会、中国证券监督管理委员会颁 布的《国有企业、上市公司选聘会计师事务所管理办法》，公司审计委员会切实 对安永华明2024年度的审计工作情况履行了监督职责。具体情况如下： （一）会计师事务所基本情况 安永华明2023年度经审计的业务总收入人民币59.55亿元，其中，审计业务 收入人民币55.85亿元，证券业务收入人民币24.38亿元。2023年度A股上市公司 年报审计客户共计137家，收费总额人民币9.05亿元。这些上市公司主要行业涉 及制造业、金融业、批发和零售业、采矿业、信息传输、软件和信息技术服务 业、租赁和商务服务业等。 （二）聘请会计师事务所履行的程序 公司于2024年3月27日召开第二届董事会第十八次会议和第二届董事会独立董 事专门会议第一次会议，于2024年4月18日召开2023年年度股东大会，分别审议通 过了《关于续聘会计师事务所的议案》，同意聘请安永华明为公司2024年度 ...