证券代码：688161 证券简称：威高骨科 公告编号：2024-027 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责任。 山东威高骨科材料股份有限公司 关于参加 2023 年度医用耗材行业集体业绩说明会的公告 重要内容提示： 山东威高骨科材料股份有限公司（以下简称"公司"）已于 2024 年 3 月 27 日发布公司 2023 年年度报告，为便于广大投资者更全面深入地了解公司 2023 年 度经营成果、财务状况，公司计划于 2024 年 4 月 18 日下午 03:00-05:00 举行 2023 年年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次投资者说明会以网络互动形式召开，公司将针对 2023 年度的经营成果 及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允许的范围内 就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 三、参加人员 会议召开时间：2024 年 4 月 18 日（星期四）下午 03:00-05:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 ...

Investment Rating - The investment rating for the company is "Accumulate" [2][4]. Core Views - The company's performance in 2023 was significantly impacted by the implementation of volume-based procurement, leading to a decrease in ex-factory prices and channel inventory adjustments. Revenue for 2023 was 1.284 billion yuan, a year-on-year decline of 37.6%, while net profit attributable to shareholders was 112 million yuan, down 81.3% year-on-year. The fourth quarter alone saw a revenue drop of 55.8% to 201 million yuan, with a net loss of 10 million yuan [2][7][26]. - The appointment of Chen Min as the new chairperson is expected to drive the company towards becoming a global leader in orthopedic innovation and technology, enhancing its internationalization strategy and sales channel development [2][7]. - The company has experienced pressure across all business lines, with significant revenue declines in spinal products (48.5%), trauma products (53.9%), and joint products (35.3%). However, the sports medicine and tissue repair products have emerged as important revenue sources, generating 227 million yuan in 2023 [2][13][26]. Financial Performance Summary - Revenue and Profit Forecasts: - 2024-2026 projected net profits are 250 million, 328 million, and 390 million yuan, representing year-on-year growth rates of 122.2%, 31.6%, and 18.8% respectively. Earnings per share (EPS) are expected to be 0.62, 0.82, and 0.98 yuan [2][3][38]. - Key Financial Metrics: - 2023 revenue was 1.284 billion yuan, with a gross margin of 66.5%, down 8.3 percentage points from the previous year. The net profit margin fell to 8.8%, a decrease of 20.6 percentage points [2][26][39]. - R&D Investment: - The company maintained a high level of R&D investment, with expenses reaching 130 million yuan in 2023, a 10.7% increase year-on-year, representing a R&D expense ratio of 10.1% [19][26]. Business Line Performance - Revenue Breakdown: - Spinal products generated 472 million yuan, trauma products 195 million yuan, and joint products 289 million yuan in 2023. The sports medicine and tissue repair segment achieved 326 million yuan, marking a significant growth area [2][13][36]. - Future Growth Expectations: - The company anticipates a return to normal growth rates as ex-factory prices stabilize and channel inventory is cleared. The expected revenue for 2024 is 1.502 billion yuan, reflecting a 17% increase [2][3][38].

华泰联合证券有限责任公司 关于山东威高骨科材料股份有限公司 2023 年度持续督导跟踪报告 | 保荐机构名称：华泰联合证券有限责任公司 | 被保荐公司简称：威高骨科 | | --- | --- | | 保荐代表人姓名：唐澍 | 联系电话：025-83387919 | | 保荐代表人姓名：唐逸凡 | 联系电话：025-83387720 | 二、重大风险事项 售价格持续下降或市场占有率下降的风险，进而可能对公司未来盈利能力产生不 利影响，甚至可能产生业绩大幅下滑或亏损的风险。 根据《证券法》《证券发行上市保荐业务管理办法》和《上海证券交易所科 创板股票上市规则》等有关法律、法规的规定，华泰联合证券有限责任公司（以 下简称"华泰联合证券"或"保荐机构"）作为山东威高骨科材料股份有限公司 （以下简称"威高骨科"、"公司"或"发行人"）首次公开发行股票的保荐机 构，对威高骨科进行持续督导，并出具本持续督导跟踪报告： 一、保荐机构和保荐代表人发现的问题及整改情况 无。 公司当前面临的主要风险因素如下： （二）核心竞争力风险 （一）业绩大幅下滑或亏损的风险 国家集采政策逐步推进对骨科行业影响深远，带量采购使产品入院价格大幅 ...

公司研究 | --- | --- | --- | --- | --- | |---------------------|--------|-------|--------|-------------| | | | | | | | | | | | | | | | | | | | | | | | | | 相对沪深 300 | 表现 | | | 2024/04/02 | | 表现 | | 1M | 3M | 12M | | 威高骨科 | -18.0% | | -34.1% | -52.8% | | 沪深 300 | | 1.2% | 5.7% | -11.6% | | 市场数据 | | | | 2024/04/02 | | | | | | | | 当前价格（元） | | | | 26.75 | | 52 周价格区间（元） | | | | 24.50-62.40 | | 总市值（百万） | | | | 10,700.00 | | 流通市值（百万） | | | | 2,050.83 | | 总股本（万股） | | | | 40,000.00 | | 流通股本（万股） | | | | 7,666.67 | | 日均成交额 ...

证券代码：688161 证券简称：威高骨科 公告编号：2024-026 2023 年 8 月 28 日，公司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预案的议案》，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，用于员工持股及/或股权激励计划。公司拟用于本次回购的资金总额不低 于人民币 6,000 万元，不超过人民币 1.2 亿元（含），回购价格为不超过人民币 50 元/股（含），回购期限为自公司董事会审议通过本次回购方案之日起 12 个月 内。具体内容详见公司分别于 2023 年 8 月 30 日、2023 年 9 月 19 日在上海证券 交易所网站（www.sse.com.cn）披露的《关于以集中竞价交易方式回购公司股份 预案的公告》（公告编号：2023-033）、《关于以集中竞价交易方式回购公司股份 的回购报告书》（公告编号：2023-035）。 二、实施回购股份的进展情况 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》等相关规定，公司在回购股份期间，应于每个月的前 3 个 ...

Investment Rating - The report maintains a "Buy" rating for the company [13] Core Views - The company's revenue in 2023 was RMB 1.284 billion, a decrease of 37.63% YoY, with net profit attributable to the parent company of RMB 112.32 million, a decrease of 81.30% YoY [1] - The company's performance was below expectations due to the impact of centralized procurement and industry challenges [1] - The company has made significant progress in R&D, with breakthroughs in new materials and product lines, including sports medicine, bone repair materials, and neurosurgery [2] - The company achieved full-line bidding success in centralized procurement for trauma products and sports medicine products, which is expected to boost domestic market share [2] Financial Performance - The company's sales expenses decreased by 21.10% to RMB 561 million, while R&D expenses increased by 10.66% to RMB 130 million [2] - The sales expense ratio was 43.69%, and the R&D expense ratio was 10.14% [2] - The company's gross margin in 2023 was 66.52%, with a net profit margin attributable to the parent company of 8.75% [14] - The company's revenue is expected to grow by 15.57% in 2024, 15.88% in 2025, and 20.80% in 2026 [13] Product and Market Development - The company has optimized its product structure and expanded into new areas such as neurosurgery, orthopedic rehabilitation, minimally invasive orthopedics, and digital orthopedics [2] - The company has achieved breakthroughs in the development of new orthopedic materials, including bone cement, joint ceramics, enhanced PEEK, and tantalum metal [2] - The company has made significant progress in the clinical application of PRP products in the field of tissue repair [2] Valuation and Forecast - The company's 2024-2025 net profit attributable to the parent company is revised downward to RMB 269.32 million and RMB 350.52 million, respectively, with a 2026 forecast of RMB 414.72 million [3] - The corresponding PE ratios for 2024-2026 are 38X, 29X, and 25X, respectively [3] - The company's EPS for 2024-2026 is forecasted to be RMB 0.67, RMB 0.88, and RMB 1.04, respectively [13]

Investment Rating - The report adjusts the investment rating to "Accumulate" based on the company's performance and market conditions [21]. Core Views - The company faces short-term performance pressure due to orthopedic centralized procurement, with a reported revenue of 1.284 billion yuan in 2023, down 37.63% year-on-year, and a net profit of 112 million yuan, down 81.30% year-on-year. However, the company is expected to adapt and achieve volume-based pricing [4][21]. - The company has a comprehensive product line and is continuously improving its marketing strategies to align with industry trends, which is expected to enhance its operational quality [4]. - The company focuses on orthopedic devices and is exploring new fields, having established a robust R&D system and achieved significant progress in product registration and material development [4]. Financial Summary - In 2023, the company reported a revenue of 1.284 billion yuan, a decrease of 37.63% year-on-year, and a net profit of 112 million yuan, a decrease of 81.30% year-on-year. The projected revenues for 2024, 2025, and 2026 are 1.553 billion yuan, 1.881 billion yuan, and 2.297 billion yuan, respectively, with expected growth rates of 21.0%, 21.1%, and 22.1% [24]. - The earnings per share (EPS) for 2024, 2025, and 2026 are projected to be 0.74 yuan, 1.01 yuan, and 1.25 yuan, respectively [24]. - The gross margin is expected to recover to 74.3% in 2024, with net profit margins projected at 19.1% for the same year [24].

证券代码：688161 证券简称：威高骨科 山东威高骨科材料股份有限公司投资者关系活动记录表 编号：2024-001 √特定对象调研 □分析师会议 投资者关系活 □媒体采访 □业绩说明会 □新闻发布会 □路演活动 动类别 □现场参观 □其他 （请文字说明其他活动内容） 参与单位名称 98家境内外机构共119名参会人员，详见附件明细 及人员姓名 时间 2024年3月27日 地点 公司会议室（电话会议） 上市公司接待 董事长陈敏女士、总经理卢均强先生、财务总监吕苏云女 ...

公司骨科手术器械类产品主要为骨科植入手术过程中使用的器械工具，涵盖多个品种，规格 齐全，能够满足临床各类骨科疾病的手术需求，与骨科植入产品配套使用。包括自产植入产品配 套的器械工具及为国外知名厂商生产的 OEM 产品等。公司植入物配套的手术器械配合公司骨科植 入物使用，可以更好地保障骨科手术的精确度，提高产品植入效果。 公司推动数字化平台管理，制定了完善的采购管理制度，规范管理原辅材料、外协加工服务 等采购工作。根据采购需求，公司技术工艺部、研发中心负责编制采购物资的技术标准，公司采 购管理部制订采购计划并按照采购物资分类、配额分配标准等实施采购，公司质量管理部负责采 购物资的质量检验，公司财务部负责审核、监督采购预算及资金支付。通过计划牵引，缩短供应 周期，服务生产制造、研发销售，对物资分类进行配额管理，对质量问题实行监督纠防，实现财 务资金计划和资金支付的平台审批管理。 公司生产模式正逐步由库存式生产向以运营数字化为基础的以销定产的生产模式转变。公司 计划部以市场需求为导向，通过对订单数据的及时处理分析，在市场管理部、营销管理部及质量 管理部等的配合下，制订生产计划，由生产部组织实施生产并由质量管理部完成 ...

山东威高骨科材料股份有限公司 2023 年独立董事述职情况报告 作为山东威高骨科材料股份有限公司（以下简称"公司"）的独立董事，我 按照《中华人民共和国公司法》《中华人民共和国证券法》《上海证券交易所科创 板股票上市规则》《上市公司独立董事管理办法》《山东威高骨科材料股份有限公 司章程》等有关法律、行政法规、部门规章、规范性文件以及公司管理制度的有 关规定，认真负责、忠实勤勉地履行了独立董事的义务和职责,积极地参加了公 司 2023 年度召开的公司股东大会、董事会及董事会各专门委员会的相关会议； 积极地参与了公司的各项重大经营决策;积极地发挥了专业优势和独立作用;通 过对董事会审议的重大事项发表审慎、客观的独立意见，为董事会的科学决策提 供有力支持;努力维护并有效保障了公司全体股东特别是中小股东的合法权益。 现将公司独立董事 2023 年度的主要工作情况报告如下; 一、独立董事基本情况 (三)个人工作履历 本人自 1987 年 7 月至 1993 年 3 月，任内蒙古财经学院会计系助教；1993 年 3 月至 1999 年 9 月，任山东大学威海分校经济系讲师； 1999 年 9 月至 2004 年 9月,任 ...