因为在这样的环境下只要上头不愿意拿货这个确实是会对包裹摆摊的数字会有较大的影响当然从客观另外一个程度来讲的话实际上也是有对公司来说我们的收入质量也会更高一些就是我们大家可以看到我们现在程序是处于一个画幅式的一个状态这样的可以明后年就可以有军装上阵我们可以取得更高质量的一个成长 这边是这样所以总体来说吧就是这个费用端的这些情况实际上只是说大家不用特别关注这个数字是三十几还是二十几核心点就是一个是我营销端我营销费用投入大家可以看到市场的一些效果以及包括我们招投标月单招投标的一些数据的体现 那么研发端大家可以关注我们整个新产品后面陆续产品发布的管线和节奏管线发布的这个特别是一些东方新产品的一些发布的节奏所以我们总体觉得这个还都是符合预期的吧那么困难只是暂时的后面我们中长期还是还是非常好的一个赛道谢谢好的谢谢施总那公司也艺术公司在这个销售之间 接下来我们请华泰证券的老师提问好的施总和马总好我是华泰证券的沟通我这边请教一下就是因为看到我们的新产品其实终端的招投标还是情况非常不错的就请教一下施总我们今年就是AQ300介入的一些就是投入的一些代表性的意愿呢就是请您帮我们大概介绍一下有哪些代表性的意愿 以及奥法目前就是在最就 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company achieved a revenue of 501 million yuan in the first three quarters of 2024, representing a year-on-year increase of 17%. However, the net profit attributable to shareholders decreased by 17% to 37.3 million yuan, and the net profit after deducting non-recurring items fell by 55% to 14.81 million yuan [1] - In Q3 2024, the company reported a revenue of 147 million yuan, up 5% year-on-year, with a significant increase in net profit attributable to shareholders by 345% to 31.64 million yuan, and a 379% rise in net profit after deducting non-recurring items to 16.16 million yuan [1] - The company is focusing on product research and development, with R&D expenses reaching 113 million yuan in the first three quarters, accounting for 22.6% of revenue. New products launched include the AQ-150 Series 4K endoscope system and the AQ-120 Series endoscope system, which are expected to enhance the company's market presence [1] - The 4K ultra-high-definition endoscope platform is gaining traction, with expectations for rapid growth in market share among tertiary hospitals due to the innovative AQ-300 product, which meets clinical demands for image clarity [1] Summary by Sections Performance Overview - Revenue for 2024 is projected to be 820 million yuan, with a growth rate of 20.96%. Net profit is expected to reach 77 million yuan, reflecting a year-on-year growth of 32.97% [6] - The company anticipates net profits of 130 million yuan and 198 million yuan for 2025 and 2026, respectively, with growth rates of 68.68% and 52.32% [6] Financial Metrics - The company’s P/E ratios for 2024, 2025, and 2026 are projected to be 89.61, 53.12, and 34.88, respectively [6] - The return on equity (ROE) is expected to improve from 5.28% in 2024 to 11.51% in 2026 [6] Market Position - The company is positioned to benefit from increasing patient demand and domestic product substitution trends, which are expected to support revenue recovery in the future [1]

《科创板日报》10月24日讯（记者 郑炳巽）24日晚间，国产软镜设备龙头澳华内镜（688212.SH）发布 2023年第三季度报告。 前三季度实现营收5.01亿元，同比增长16.79%，归母净利润3730.30万元，同比下降17.45%。相比之 下，澳华内镜第三季度业绩表现有所好转，Q3单季度营收1.47亿元，同比增长5.39%，归母净利润 3164.14万元，同比增长345.17%。 澳华内镜表示，第三季度归母净利润取得增长的原因在于，一方面，因为预计2024年运营结果不能满足 限制性股票归属条件，本期冲回已计提股份支付费用。另一方面，第三季度收到了大额政府补助。 具体来看，澳华内镜第三季度计入当期损益的政府补助为1664.24万元，较今年上半年的150.87万元大幅 度增加1513.37万元。 至于股份支付费用，在此之前的确给澳华内镜的净利润造成较大影响。以2024年上半年为例，澳华内镜 实现营收3.54亿元，同比增长22.29%，归母净利润566.16万元，同比下降85.13%。但是若剔除股份支 付，澳华内镜上半年实际取得归母净利润4774.02万元，同比增长7.19%。 关于股份支付费用，已有投资者在 ...

Investment Rating - The report maintains an "Overweight" rating for the company [2] Core Views - The company is a pioneer in domestic soft endoscopy, with a comprehensive product portfolio covering multiple clinical applications such as gastroenterology, respiratory, and ENT [1] - Revenue has grown rapidly, with a CAGR of 22 84% from 2019 to 2023, driven by the launch of new products like AQ-200 and AQ-300 [1] - The domestic soft endoscopy market is highly concentrated, with Japanese giants Olympus, Fujifilm, and Pentax holding over 80% of the market share, leaving significant room for domestic substitution [1] - AQ-300, the first domestic 4K soft endoscope, has broken the monopoly of foreign giants and is gaining traction in tertiary hospitals, further driving market share growth [1] - High R&D investment and a growing R&D team have accelerated product iteration, with the company transitioning from catching up to surpassing imported products [1] - The company has adopted a dual-channel strategy, focusing on both grassroots and high-end markets domestically, while driving overseas growth through a multi-product and multi-category approach [1] Market and Industry Analysis - The Chinese medical endoscopy market is expected to reach RMB 39 3 billion by 2025, with a CAGR of 12 2% from 2021 to 2025, driven by factors such as the promotion of hierarchical diagnosis and treatment policies, increased penetration of minimally invasive surgeries, and the gradual improvement of the endoscopy physician system [1] - The soft endoscopy market is highly concentrated, with Japanese companies Olympus, Fujifilm, and Pentax dominating over 80% of the market share in China [1] - Domestic companies like the report's subject and Kaile Medical have made inroads in the mid-to-low-end market and are gradually breaking into the high-end market with new products like HD-580 and AQ-300 [1] Product and Technology - AQ-300, the first domestic 4K soft endoscope, has achieved breakthroughs in imaging quality, optical staining, control design, and intelligence, gaining clinical recognition and increasing installations in tertiary hospitals [1] - The company has a rich portfolio of endoscope types, including optical magnification endoscopes, duodenoscopes, dual-focus endoscopes, and fine endoscopes, enhancing its competitiveness in tenders [1] - The company has maintained high R&D investment, with R&D expenses reaching RMB 147 million in 2023, a 52% year-on-year increase, and the R&D team expanding to 268 people by H1 2024, accounting for 21 5% of total employees [1] Financial Performance and Forecast - Revenue is expected to grow to RMB 914 million, RMB 1 199 billion, and RMB 1 528 billion in 2024, 2025, and 2026, respectively, with net profit attributable to the parent company reaching RMB 63 million, RMB 160 million, and RMB 236 million in the same periods [5] - The company's gross margin has steadily increased from 2018 to 2023, driven by the rising proportion of mid-to-high-end products and economies of scale [1] Strategic Initiatives - The company has established 15 provincial marketing branches and 34 marketing service outlets in China, enhancing product coverage and competitiveness in both grassroots and high-end markets [1] - AQ-300 obtained CE certification in H1 2024, which is expected to drive rapid growth in overseas revenue [1]

未来三年（2024 年-2026 年）股东分红回报规划 上海澳华内镜股份有限公司 根据中国证券监督管理委员会发布的《关于进一步落实上市公司现金分红 有关事项的通知》和《上市公司监管指引第 3 号——上市公司现金分红（2023 修订）》等相关规定和要求，为明确公司对股东的合理投资回报规划，完善现金 分红政策，增加利润分配决策透明度和可操作性，便于股东对公司经营和利润 分配进行监督，公司制定了《上海澳华内镜股份有限公司未来三年（2024 年- 2026 年）股东分红回报规划》（以下简称"本规划"），具体内容如下： 一、制定本规划考虑的因素 公司着眼于长远和可持续发展，在制定本规划时，综合考虑所处行业的特 点及其发展趋势、公司经营发展规划、盈利能力、现金流情况、股东回报、社 会资金成本以及外部融资环境等重要因素，建立对投资者科学、持续、稳定的 回报规划与机制，从而对利润分配做出制度性安排，以保证利润分配政策的连 续性和稳定性。 二、制定本规划遵循的原则 ①公司该年度实现的可分配利润（即公司弥补亏损、提取公积金后所余的 税后利润）及累计未分配利润为正值，且现金流充裕，实施现金分红不会影响 公司的后续持续经营； ②审计 ...

证券代码：688212 证券简称：澳华内镜 公告编号：2024-045 上海澳华内镜股份有限公司 第二届监事会第十三次会议决议公告 本公司监事会及全体监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。 一、监事会会议召开情况 上海澳华内镜股份有限公司（以下简称"公司"）于 2024 年 10 月 23 日以现场结合 通讯的方式召开了第二届监事会第十三次会议（以下简称"本次会议"）。本次会议的通 知已于 2024 年 10 月 18 日以电子邮件的方式送达全体监事。本次会议由公司监事会主席 徐佳丽女士召集并主持，会议应出席监事 3 名，实际出席监事 3 名。本次会议的召集、召 开程序和方式符合《公司法》等法律法规以及《上海澳华内镜股份有限公司章程》（以下 简称"《公司章程》"）的有关规定，会议决议合法、有效。 二、监事会会议审议情况 会议经与会监事审议并书面表决通过了如下议案： （一）审议通过《关于公司 2024 年第三季度报告的议案》 监事会认为：公司《2024 年第三季度报告》编制和审议程序符合法律法规、《公司章 程》及监管机构的规定。公司《 ...

上海澳华内镜股份有限公司 章程 二〇二四年十月 | 第一章 | 总则 | 2 | | --- | --- | --- | | 第二章 | | 经营宗旨和范围 3 | | 第三章 | 股份 | 3 | | 第一节 | | 股份发行 3 | | 第二节 | | 股份增减和回购 5 | | 第三节 | | 股份转让 6 | | 第四章 | | 股东和股东大会 7 | | 第一节 | 股东 | 7 | | 第二节 | | 股东大会的一般规定 9 | | 第三节 | | 股东大会的召集 13 | | 第四节 | | 股东大会的提案与通知 15 | | 第五节 | | 股东大会的召开 16 | | 第六节 | | 股东大会的表决和决议 19 | | 第五章 | 董事会 | 24 | | 第一节 | 董事 | 24 | | 第二节 | 董事会 | 27 | | 第三节 | | 董事会专门委员会 32 | | 第四节 | | 董事会秘书 34 | | 第六章 | | 总经理及其他高级管理人员 35 | | 第七章 | 监事会 | 37 | | 第一节 | 监事 | 37 | | 第二节 | 监事会 | 38 | | 第八章 ...

证券代码：688212 证券简称：澳华内镜 公告编号：2024-043 关于变更董事、监事暨调整董事会专门委员会委员的公告 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。 上海澳华内镜股份有限公司（以下简称"公司"） 于 2024 年 10 月 23 日召开第二 届董事会第十四次会议，审议通过了《关于变更公司董事的议案》及《关于调整公司董 事会专门委员会委员的议案》。同日召开第二届监事会第十三次会议，审议通过了《关 于变更公司监事的议案》。具体情况如下： 一、关于变更董事、监事的情况说明 上海澳华内镜股份有限公司 2024 年 10 月 25 日 公司董事周瑔先生、监事刘海涛女士为公司首发前投资人股东君联资本推荐并当选的 董事、监事，监事朱正炜先生为公司首发前投资人股东招商局资本推荐并当选的监事。 因特定股东陆续减持退出，经与股东协商，结合公司的战略调整和工作需要，公司拟对 相应人员进行调整。具体如下： 周瑔先生不再担任公司董事、审计委员会委员及战略委员会委员职务，刘海涛女士、 朱正炜先生不再担任公司非职工代表监事职务。董 ...

Financial Performance - The company's operating revenue for Q3 2024 was ¥147,029,290.25, representing a 5.39% increase compared to ¥139,509,193.05 in the same period last year[4] - Net profit attributable to shareholders for Q3 2024 was ¥31,641,404.05, a significant increase of 345.17% from ¥7,107,658.35 in the previous year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥16,158,766.30, up 378.59% from ¥3,942,969.70 in the same period last year[4] - The company's basic earnings per share for Q3 2024 was ¥0.24, an increase of 380.00% compared to ¥0.05 in the same period last year[4] - Total operating revenue for the first three quarters of 2024 reached ¥500,553,520.06, an increase of 16.8% compared to ¥428,593,935.58 in the same period of 2023[17] - The total profit for Q3 2024 is CNY 30,088,217.24, a decrease from CNY 38,515,167.46 in Q3 2023, reflecting a decline of approximately 21.5%[19] - The net profit for Q3 2024 is CNY 36,958,353.67, down from CNY 45,489,239.23 in Q3 2023, representing a decrease of about 18.5%[19] - The net profit attributable to shareholders of the parent company is CNY 37,303,031.49, compared to CNY 45,187,021.40 in the previous year, indicating a decline of approximately 17.5%[19] - The net profit for the first three quarters of 2024 was CNY 28,139,163.17, down from CNY 38,025,753.96 in the previous year, indicating a decline of approximately 26.0%[27] Expenses and Costs - Research and development expenses totaled ¥25,771,300.30, a decrease of 29.37% from ¥36,487,271.90 in the previous year, accounting for 17.53% of operating revenue[5] - Total operating costs for the first three quarters of 2024 were ¥504,921,469.56, up from ¥424,465,174.16 in 2023, reflecting a rise of 18.9%[18] - Research and development expenses for the first three quarters of 2024 were ¥113,108,128.27, slightly up from ¥106,088,757.05 in 2023, indicating a growth of 6.3%[18] - The company's total equity increased to ¥1,397,343,158.38 from ¥1,395,158,777.46, a marginal increase of 0.2%[16] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,676,603,833.96, reflecting a 5.11% increase from the previous year[5] - Non-current assets totaled ¥729,740,584.30, compared to ¥586,862,434.46 in the previous year, marking an increase of 24.2%[16] - Current liabilities rose to ¥208,141,386.77, up from ¥141,811,852.13, reflecting a significant increase of 46.7%[16] - Non-current liabilities totaled ¥71,119,288.81, compared to ¥58,073,139.91 in the previous year, an increase of 22.4%[16] - The total liabilities increased to CNY 283,045,780.02 from CNY 168,015,854.10, representing a growth of about 68.3%[26] Cash Flow - The net cash flow from operating activities for the year-to-date was negative at -¥137,907,116.60, impacted by slower receivables and increased investments[9] - Cash inflow from operating activities for the first three quarters of 2024 is CNY 528,105,962.51, an increase from CNY 474,516,059.19 in the same period of 2023, reflecting a growth of approximately 11.3%[22] - Cash outflow from operating activities for the first three quarters of 2024 is CNY 666,013,079.11, compared to CNY 511,047,225.62 in 2023, an increase of about 30.4%[22] - The net cash flow from investing activities for Q3 2024 is CNY -11,990,148.86, an improvement from CNY -20,746,416.63 in Q3 2023[24] - The net cash flow from financing activities for Q3 2024 is CNY 50,113,987.87, compared to CNY 6,351,995.57 in Q3 2023, indicating a significant increase[24] Shareholder Information - The company reported a total of 3,811 shareholders at the end of the reporting period[10] - The largest shareholder, Gu Xiaozhou, holds 21,740,500 shares, representing 16.15% of total shares[10] - Gu Kang, the second-largest shareholder, owns 16,950,200 shares, accounting for 12.59%[10] - The company has no reported related party transactions among the top shareholders[13] Other Information - The company received significant government subsidies, contributing to the increase in net profit for the quarter[8] - The company has not indicated any new product launches or significant market expansion strategies in the current report[14] - The company did not apply new accounting standards for the first time in 2024[30]

一、修订《公司章程》的相关情况 证券代码：688212 证券简称：澳华内镜 公告编号：2024-044 上海澳华内镜股份有限公司 关于修订《公司章程》及公司部分管理制度的公告 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。 上海澳华内镜股份有限公司（以下简称"公司"）于2024年10月23日召开第二届董 事会第十四次会议，审议通过了《关于修订<公司章程>的议案》以及修订公司部分管理 制度的相关议案。章程及部分制度的修订尚需提交公司股东大会审议，同时董事会提请 股东大会授权董事会办理工商变更登记等事宜。现将有关情况公告如下： 为进一步完善公司治理结构，更好促进规范运作，结合《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》等相关法律法规以及公司实际情况，公司拟对 公司章程中部分条款进行修订。 具体修订内容如下： 为进一步完善公司治理结构，更好地促进公司规范运作，结合公司的实际情况，并 根据《公司法》《证券法》《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 ...