差异化权益分派特殊除权除息事项的核查意见 国泰海通证券股份有限公司（以下简称"国泰海通"、"保荐机构"）作为青 岛海尔生物医疗股份有限公司（以下简称"海尔生物"、"公司"）首次公开发行 股票并在科创板上市的保荐机构，根据《证券发行上市保荐业务管理办法》《上 海证券交易所科创板股票上市规则》《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》等法律、行政法规、部门规章及业务规则，对海尔 生物本次差异化权益分派特殊除权除息事项发表意见如下： 一、本次差异化分红的原因 国泰海通证券股份有限公司 关于青岛海尔生物医疗股份有限公司 公司于 2022 年 2 月 6 日召开第二届董事会第五次会议，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》，同意公司以自有资金通过上海 证券交易所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 股票。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 价格不超过 100 元/股（含），回购资金总额不低于人民币 5,000 万元（含），不 超过人民币 10,000 万元（含），回购期限自公司董事会审议通过回购方案之日 起 12 个月内。 ...

证券代码：688139 证券简称：海尔生物 公告编号：2025-037 青岛海尔生物医疗股份有限公司 2024年年度权益分派实施公告 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： 每股现金红利0.47元 相关日期 | 股权登记日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | | 2025/6/5 | 2025/6/6 | 2025/6/6 | 一、 通过分配方案的股东大会届次和日期 本次利润分配方案经青岛海尔生物医疗股份有限公司（以下简称"公司"）2025 年 4 月 29 日的2024年年度股东大会审议通过。 二、 分配方案 1. 发放年度：2024年年度 2. 分派对象： 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称"中国结算上海分公司"）登记在册的本公司全体股东， 是否涉及差异化分红送转：是 每股分配比例 但根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号 ——回购股份》等有关规定，公司回购 ...

Core Viewpoint - Haier Biomedical's stock closed at 30.92 yuan, down 1.34%, with a rolling PE ratio of 28.98 times, and a total market value of 9.831 billion yuan [1] Company Overview - Qingdao Haier Biomedical Co., Ltd. focuses on providing optimal user experiences for life science users, including pharmaceutical companies, research institutions, and healthcare users, forming two main business segments: life sciences and medical innovation [2] - The company offers comprehensive digital solutions represented by smart laboratories, digital hospitals, and smart public health, with key products including low-temperature storage boxes, automated biological sample storage, and various automated medication products [2] Financial Performance - In Q1 2025, the company reported revenue of 689 million yuan, a year-on-year increase of 0.30%, and a net profit of 110 million yuan, a year-on-year decrease of 19.88%, with a gross profit margin of 48.35% [3] - The company's PE ratio is significantly lower than the industry average of 48.92 times and the industry median of 35.68 times, ranking 66th in the industry [3]

Group 1 - The trend of Chinese medical device companies "going global" is long-term positive, especially in the upstream supply chain which has formed a certain scale [1] - In Q1 2025, China's medical device export trade total is projected to reach 69.26 billion yuan, a year-on-year increase of 5.03%, with high-end medical devices seeing significant growth [1] - The export value of China's medical device industry is expected to reach 48.75 billion USD in 2024, reflecting a year-on-year growth of 7.3% [1] Group 2 - Over 100 listed medical device companies have already initiated "going global" operations in 2024, covering various product areas such as medical consumables and diagnostic equipment [2] - Companies are advised to consider business, supply chain, and localization strategies for global expansion [2][3] - Localized production and supply chain management are essential for adapting to market demands in different regions [3] Group 3 - Companies like Haier Bio emphasize the importance of localizing product design and marketing to enhance user experience in overseas markets [4] - The trend of "going global" is common among mature, growth, and startup medical device companies, focusing on high-value and high-end products [6] - High-value medical devices, such as deep brain stimulators, require careful economic calculations and long-term service planning before entering foreign markets [6] Group 4 - Companies are encouraged to leverage digitalization and smart technologies to enhance their global strategies, as seen with Mindray Medical's remote monitoring capabilities [7] - Brand building is crucial for domestic medical device companies, with strategies including sponsorship of international sports events to enhance global influence [7] - The medical device market in Europe and the US accounts for over 65% of the global market share, making it a primary target for Chinese companies [8] Group 5 - Key conditions for Chinese medical device companies to "go global" include having sufficient capital, production capacity, and independent R&D capabilities [8] - Collaboration with local hospitals and doctors for joint R&D and clinical trials can facilitate product entry into new markets [8]

Core Viewpoint - Haier Biomedical's stock closed at 31.9 yuan, down 1.09%, with a rolling PE ratio of 29.90 times, and a total market value of 10.143 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 [2] - The company has developed two main business segments: life sciences and medical innovation, offering comprehensive digital solutions such as smart laboratories and digital hospitals [2] - Key products include low-temperature storage boxes, automated biological sample storage systems, and various automated medication products [2] Group 2: Financial Performance - In the first quarter of 2025, the company reported revenue of 689 million yuan, a year-on-year increase of 0.30%, and a net profit of 110 million yuan, a year-on-year decrease of 19.88% [3] - The gross profit margin for sales was 48.35% [3] Group 3: Market Position - The average PE ratio for the medical device industry is 48.98 times, with a median of 36.16 times, placing Haier Biomedical at the 70th position in the industry [1][3] - As of the first quarter of 2025, 14 institutions held shares in Haier Biomedical, with a total holding of 200.17 million shares valued at 6.922 billion yuan [1]

Company Overview - Qingdao Haier Biomedical Co., Ltd. focuses on providing optimal user experiences for life science users, including pharmaceutical and biological enterprises, research institutions, hospitals, and public health organizations [2] - The company has developed two main business segments: life sciences and medical innovation, offering comprehensive digital solutions such as smart laboratories and digital hospitals [2] Financial Performance - For Q1 2025, the company reported revenue of 689 million yuan, a year-on-year increase of 0.30%, and a net profit of 110 million yuan, representing a year-on-year decrease of 19.88% [3] - The gross profit margin for the period was 48.35% [3] Market Position - As of May 6, the company's stock closed at 31.95 yuan, with a rolling price-to-earnings (PE) ratio of 29.94 times, and a total market capitalization of 10.159 billion yuan [1] - The average PE ratio in the medical device industry is 48.90 times, with a median of 36.41 times, placing the company at the 69th position in the industry ranking [1] Shareholder Information - As of March 31, 2025, the number of shareholders for the company was 12,793, a decrease of 453 from the previous count, with an average holding value of 352,800 yuan per shareholder and an average holding of 27,600 shares [1] Product and Innovation - The company's main products include low-temperature storage boxes, automated biological sample storage systems, and various automated medication products, among others [2] - In 2022, the company received several prestigious awards and certifications, enhancing its reputation in the life sciences and medical innovation sectors [2]

证券代码：688139 证券简称：海尔生物 公告编号：2025-036 青岛海尔生物医疗股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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、准确性和完整性承担 法律责任。 本次回购股份符合法律法规的规定及公司回购股份方案。 三、其他事项 公司将严格按照《上市公司股份回购规则》《上海证券交易所上市公司自律监 管指引第 7 号——回购股份》等相关规定，在回购期限内根据市场情况择机做出 回购决策并予以实施，同时根据回购股份事项进展情况及时履行信息披露义务， 敬请广大投资者注意投资风险。 重要内容提示： 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 不超过 50 元/股（含），回 ...

Investment Rating - The report maintains a "Recommendation" rating for Haier Biomedical (688139) [1] Core Views - The company reported Q1 2025 revenue of 689 million yuan, a slight increase of 0.30% year-on-year, while net profit attributable to shareholders decreased by 19.88% to 110 million yuan [1] - Non-storage new industries continue to maintain high growth, with overseas business returning to stable growth [1] - The company expects net profit attributable to shareholders for 2025-2027 to be 440 million, 540 million, and 640 million yuan, with year-on-year growth rates of 20.6%, 23.1%, and 18.3% respectively [7] Financial Performance Summary - Total revenue forecast for 2024A is 2,284 million yuan, with expected growth rates of 0.1% in 2024, 15.2% in 2025, 16.4% in 2026, and 13.2% in 2027 [3] - The net profit attributable to shareholders is projected to decline by 9.7% in 2024, followed by increases of 20.6%, 23.1%, and 18.3% in the subsequent years [3] - The earnings per share (EPS) is expected to rise from 1.15 yuan in 2024 to 2.02 yuan in 2027 [3] Business Segment Performance - The low-temperature storage business showed a narrowing decline, with a return to positive growth in Q4 2024 and continued improvement in Q1 2025 [7] - Non-storage new industries accounted for 44% of revenue in Q1 2025, with a year-on-year growth of 13.92% and a quarter-on-quarter growth of 27.35% [7] - Domestic revenue in Q1 2025 was 482 million yuan, a decrease of 3.35% year-on-year but an increase of 54.98% quarter-on-quarter [7] Investment Recommendations - The report maintains the profit forecast unchanged, with a target price of approximately 42 yuan based on a DCF model, corresponding to a total valuation of 13.3 billion yuan [7] - The company is expected to achieve a price-to-earnings (PE) ratio of 23, 19, and 16 for the years 2025, 2026, and 2027 respectively [3]

4月2 9日晚间，海尔生物医疗发布2 0 2 5年第一季度报告， 营业收入达6 . 8 9亿元，同比增长0 . 3 0%，环比增长3 7 . 3 0%。 | 项目 | 本报告期 | 上年同期 | 本报告期比上 年同期增减变 | | --- | --- | --- | --- | | | | | 动幅度(%) | | 营业收入 | 688, 989, 400. 70 | 686, 909, 061. 52 | 0. 30 | | 归属于上市公司股东的净利润 | 110, 258, 240. 35 | 137,614,697. 49 | -19. 88 | | 归属于上市公司股东的扣除非 经常性损益的净利润 | 99, 168, 300. 25 | 132, 888, 963. 12 | -25. 38 | | 经营活动产生的现金流量净额 | 37, 219, 201. 54 | 77, 204, 996. 82 | -51. 79 | | 基本每股收益(元/股) | 0. 35 | 0. 44 | -20. 45 | | 稀释每股收益(元/股) | 0. 35 | 0. 44 | -20. 45 | 导读： 海 ...

Financial Overview - The company achieved total revenue of 689 million yuan in Q1 2025, a year-on-year increase of 0.3% [1] - The net profit attributable to the parent company was 110 million yuan, a year-on-year decrease of 19.88% [1] - The net profit excluding non-recurring items was 99.17 million yuan, a year-on-year decrease of 25.38%, indicating a decline in profitability despite slight revenue growth [1] Profit and Cost Analysis - The gross profit margin was 48.35%, an increase of 1.76 percentage points year-on-year, reflecting effective cost control [2] - The net profit margin was 16.86%, a year-on-year decrease of 18.33 percentage points, suggesting that other factors negatively impacted final profits despite improved gross margins [2] Expense Control - Total selling, administrative, and financial expenses reached 132 million yuan, accounting for 19.16% of revenue, which is a 38.24% increase compared to the same period last year, indicating pressure on expense control [3] Cash Flow and Assets Liabilities - The operating cash flow per share was 0.12 yuan, a year-on-year decrease of 51.79%, reflecting a deterioration in cash flow from operating activities [4] - Monetary funds decreased from 1.32 billion yuan to 831 million yuan, a decline of 37.02%, further highlighting cash flow pressures [4] Accounts Receivable and Debt Repayment Ability - As of the end of the reporting period, accounts receivable amounted to 432 million yuan, a year-on-year increase of 29.04%, with accounts receivable accounting for 117.8% of the latest annual net profit, which may adversely affect future cash flow [5] - Despite this, the company's cash assets remain in a healthy state [5] Business Model and Future Development - The company's performance relies heavily on research and marketing efforts, with cumulative financing of 1.231 billion yuan and cumulative dividends of 643 million yuan over the past six years, resulting in a dividend-to-financing ratio of 0.52 [6] - Moving forward, the company needs to focus more on the recovery of accounts receivable and improvement of cash flow to ensure sustainable development [6]