Core Viewpoint - The narrative of Chinese companies going global is evolving from "going out" to "going in," with Haier Biomedical leading this transformation through a focus on technology, localization, and ecosystem collaboration [1][2]. Group 1: Strategic Shift - Haier Biomedical's globalization is characterized by a systematic strategic elevation, moving beyond mere product competition to a multidimensional contest involving scenario innovation, local responsiveness, and ecosystem integration [2]. - The company aims to transition from being a "product supplier" to a "solution co-builder" by establishing localized centers for marketing, logistics, and after-sales service [3]. Group 2: Localization Strategy - The "one country, one policy" localization strategy is essential for true globalization, allowing Haier Biomedical to respect market differences and tailor solutions to local needs [3]. - Recent collaborations with top-tier institutions and strategic partnerships in various countries demonstrate the effectiveness of this localized approach, leading to increased recognition and repeat purchases from overseas clients [3]. Group 3: Ecosystem Collaboration - Haier Biomedical's presence in over 160 countries with more than 1,100 partners reflects its strategic vision of building a "zero-boundary ecosystem," enhancing its competitive edge from "product power" to "platform power" [4]. - The shift towards ecosystem collaboration allows global partners to become a community of shared interests, collectively taking on market responsibilities and sharing innovation outcomes [6]. Group 4: Future Directions - The company's practices indicate that Chinese enterprises' globalization has entered a "deep water zone," where success hinges on ecosystem-building capabilities, depth of local integration, and efficiency in global resource allocation [6]. - For Chinese medical companies to secure a significant position in the global landscape, they must move beyond a singular focus on manufacturing advantages to a comprehensive strategy that includes technology, scenarios, and ecosystems [6].

Company Summary - Haier Biomedical (688139.SH) reported a revenue of 566 million yuan for Q3 2025, representing a year-on-year growth of 1.24% and a quarter-on-quarter increase of 11.68% [1] - The net profit attributable to shareholders reached 55.65 million yuan, with a significant quarter-on-quarter increase in the net profit excluding non-recurring items [1] Industry Summary - The life sciences upstream industry has entered a new phase of valuation recovery and industrial upgrading after a decade of development [1] - Current sector valuations remain low, supported by three key factors: supply clearing, demand recovery, and accelerated domestic substitution [1]

Core Viewpoint - Haier Biomedical has shown significant performance recovery in Q3 2025, driven by strong revenue growth and improved profitability, indicating a positive trend in the life sciences and medical device sectors as they transition towards international expansion and technological innovation [1][2]. Group 1: Financial Performance - In Q3 2025, Haier Biomedical achieved a revenue of 566 million yuan, representing a year-on-year increase of 1.24% and a quarter-on-quarter increase of 11.68% [1]. - The net profit attributable to shareholders reached 55.65 million yuan, with a quarter-on-quarter growth exceeding 70% [1]. - The non-recurring net profit was 49.99 million yuan, showing a quarter-on-quarter increase of over 100% [1]. Group 2: Industry Trends - The life sciences sector is entering a new phase of valuation recovery and industrial upgrading after a decade of development, supported by supply clearing, demand recovery, and accelerated domestic substitution [2]. - Haier Biomedical's performance recovery is attributed to revenue growth, business structure upgrades, and enhanced product competitiveness [2]. Group 3: Business Segments - The recovery in Q3 is supported by four key industries: low-temperature storage, smart medication, blood technology, and laboratory solutions, which have begun to show stable performance [3]. - New industries, particularly smart medication and blood technology, have demonstrated significant growth, contributing to approximately 48% of total revenue [3]. - The smart medication segment has established itself among the top three in the automated medication market by addressing hospital drug management challenges [3]. Group 4: Market Position and Innovation - The low-temperature storage segment continues to maintain a leading market share in China, with steady growth in revenue [4]. - Haier Biomedical's commitment to technological innovation is evident in its AI integration and the establishment of a multi-layered AI foundation, enhancing its product offerings and market responsiveness [5][6]. - The company reported a 20.18% year-on-year increase in overseas market revenue, reaching 634 million yuan, with successful localization strategies implemented in 18 countries [6].

Core Viewpoint - The company has shown resilience in its financial performance, with a rebound in revenue and profit margins in the third quarter of 2025, despite facing a challenging global and industry environment [3][4]. Financial Performance - In the third quarter of 2025, the company's operating revenue increased by 1.24% year-on-year and 11.68% quarter-on-quarter [3]. - The net profit attributable to the parent company saw a quarter-on-quarter increase of over 70%, while the non-recurring net profit experienced a three-digit percentage increase [3]. - For the first three quarters of 2025, the company achieved revenue of 1.117 billion yuan, with a year-on-year decline narrowing to 10.48% [3]. Market Segments - In the domestic market, the company maintained steady growth in its ultra-low temperature, low-temperature, incubator, safety cabinet, and centrifuge product lines, with third-quarter revenue remaining stable compared to the same period last year [3]. - The overseas market saw a revenue increase of 20.18% year-on-year, totaling 634 million yuan, driven by the expansion of localized operations in 18 countries, including France [3]. New Industries - New industries accounted for approximately 48% of total revenue, with significant growth in smart medication and blood technology sectors, achieving double-digit growth in the first three quarters [4]. - The laboratory solutions segment also showed resilience, achieving single-digit growth despite a weak industry backdrop [4]. Profitability - The company's gross profit margin in the third quarter was 46.99%, an increase of 3.53 percentage points quarter-on-quarter, while the net profit margin rose by 3.43 percentage points [4]. - The company anticipates a revenue turning point by 2025 and a profit turning point by 2026, as new capacities are gradually released and innovative products gain traction [4].

Core Viewpoint - Haier Biomedical is a leading enterprise in the global biomedical low-temperature storage sector, focusing on the research, production, and sales of biomedical low-temperature storage equipment, with a full industry chain and technological barriers as its competitive advantages [1] Financial Performance - For Q3 2025, Haier Biomedical reported revenue of 1.761 billion yuan, ranking 9th out of 42 in the industry, with the top competitor, Mindray Medical, generating 25.834 billion yuan [2] - The net profit for the same period was 202 million yuan, placing the company 8th in the industry, while the industry leader, Mindray Medical, achieved a net profit of 7.814 billion yuan [2] Financial Ratios - As of Q3 2025, Haier Biomedical's debt-to-asset ratio was 18.85%, lower than the industry average of 27.21%, indicating strong solvency [3] - The gross profit margin was 46.51%, down from 48.51% year-on-year and below the industry average of 48.67%, suggesting a need for improvement in profitability [3] Management and Shareholder Structure - The chairman, Tan Lixia, has a rich background, while the general manager, Liu Zhanjie, saw a salary decrease from 2.3883 million yuan in 2023 to 2.295 million yuan in 2024 [4] - As of September 30, 2025, the number of A-share shareholders increased by 3.39% to 13,200, with an average holding of 24,000 circulating A-shares, a decrease of 3.28% [5] Business Highlights and Future Outlook - The company is expected to see improved performance as the industry recovers, with new industries contributing to growth, a market share of over 50% in plasma collection solutions, and strong overseas performance in 17 countries [5] - Forecasts for net profit from 2025 to 2027 are 420 million, 510 million, and 590 million yuan, with corresponding P/E ratios of 25, 21, and 18 [5] - The company is also focusing on low-temperature storage business recovery, laboratory solutions, and innovative medical solutions, indicating a positive outlook for H2 2025 [6]

Group 1 - Haier Biomedical held its third board meeting on October 30, 2025, to discuss the proposal for accounts receivable factoring business and related transactions [1] - For the year 2024, Haier Biomedical's revenue composition is 99.57% from medical devices and 0.43% from other businesses [1] - As of the report, Haier Biomedical has a market capitalization of 10.9 billion yuan [1]

Core Viewpoint - Haier Biomedical announced the nomination of Mr. Hu Xiangde as a candidate for the non-independent director of the company's third board of directors [1] Group 1 - The announcement was made on the evening of October 30 [1] - The nomination is part of the company's governance structure [1]

Core Insights - Haier Biomedical (688139.SH) reported a total revenue of 1.761 billion yuan for the first three quarters of 2025, representing a year-on-year decline of 1.17% [1] - The net profit attributable to shareholders of the parent company was 198 million yuan, down 35.83% year-on-year [1] - The basic earnings per share stood at 0.63 yuan [1]

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 一、关联交易概述 为支持市场业务开展，降低应收风险及应收管理成本，加快应收账款回收， 提高资金周转效率，改善经营性现金流状况，公司拟与青岛海融汇商业保理有限 公司、上海睿海创世商业保理有限公司开展总额不超过 3,000 万元无追索权应收 账款保理业务，在 3,000 万元总额度内根据业务情况可分别与青岛海融汇商业保 理有限公司、上海睿海创世商业保理有限公司签订合同。 1 证券代码：688139 证券简称：海尔生物 公告编号：2025-052 青岛海尔生物医疗股份有限公司 关于开展 2025 年应收账款保理业务 暨关联交易的公告 交易简要内容：青岛海尔生物医疗股份有限公司（以下简称"海尔生物" 或"公司"）拟与青岛海融汇商业保理有限公司、上海睿海创世商业保 理有限公司开展总额不超过 3,000 万元无追索权应收账款保理业务。 本次交易构成关联交易 本次交易未构成重大资产重组 本次交易无需提交股东大会审议。本次交易已经公司第三届董事会审计 委员会第七次会议、第三届 ...

证券代码：688139 证券简称：海尔生物 公告编号：2025-050 青岛海尔生物医疗股份有限公司 关于公司取消监事会、变更注册资本、修订《公司章 程》并办理工商变更登记、制定和修订相关公司治理 制度的公告 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。 2025 年 10 月 30 日，青岛海尔生物医疗股份有限公司（以下简称"公司"、 "海尔生物"）召开第三届董事会第八次会议审议通过了《关于变更部分回购股 份用途并注销暨减少注册资本的议案》《关于公司取消监事会、变更注册资本、 修订<公司章程>并办理工商变更登记的议案》《关于制定和修订相关公司治理制 度的议案》，上述议案尚需提交公司股东大会审议。具体内容如下： 一、取消监事会情况 为贯彻落实《中华人民共和国公司法》（以下简称"《公司法》"）、《上 市公司章程指引》《关于新<公司法>配套制度规则实施相关过渡期安排》等相关 法律法规和规范性文件规定，进一步完善公司法人治理结构、提升公司规范运作 水平，结合公司实际情况，公司拟不再设置监事会，由公司董事会审计委员会行 使《公 ...