截至6月30日，春立医疗股东户数5920.00，较上期减少17.57%；人均流通股48836股，较上期增加 341.41%。2025年1月-6月，春立医疗实现营业收入4.88亿元，同比增长28.27%；归母净利润1.14亿元， 同比增长44.85%。 来源：新浪证券-红岸工作室 春立医疗今年以来股价涨87.83%，近5个交易日涨3.46%，近20日涨9.26%，近60日涨29.59%。 资料显示，北京市春立正达医疗器械股份有限公司位于北京市通州区通州经济开发区南区鑫觅西二路10 号，成立日期1998年2月12日，上市日期2021年12月30日，公司主营业务涉及北京市春立正达医疗器械 股份有限公司是一家主要从事植入性骨科医疗器械研发、生产及销售业务的中国公司。该公司主要产品 为关节假体产品及脊柱类植入产品。关节假体产品涵盖髋、膝、肩、肘四大人体关节。脊柱类植入产品 为脊柱内固定系统的全系列产品组合。该公司的产品出口至亚洲、南美洲、非洲、大洋洲及欧洲等多个 国家和地区。主营业务收入构成为：医疗器械产品99.89%，其他(补充)0.11%。 春立医疗所属申万行业为：医药生物-医疗器械-医疗耗材。所属概念板块包括：口 ...

Investment Rating - The report recommends focusing on leading companies in various segments of the high-value consumables and medical device sectors, indicating a positive outlook for recovery and growth in these areas [4][30]. Core Insights - High-value consumables have begun to recover from the impacts of centralized procurement, with leading companies regaining profitability levels seen before the procurement initiatives [4][32]. - The medical device and IVD sectors are expected to show signs of recovery, with significant improvements anticipated in financial performance by Q3 2025 for device companies and by Q4 2025 for IVD companies [4][30]. - The report highlights specific high-growth segments, including vascular intervention, orthopedics, and IVD, suggesting that these areas will continue to attract investment due to their growth potential and market dynamics [4][30]. Summary by Sections Medical Devices - The medical device sector is projected to experience a revenue decline in 2024, with a further drop of -5.18% expected in the first half of 2025, but recovery is anticipated thereafter [9][12]. - Despite revenue challenges, the overall gross margin and net profit margin have remained stable, with R&D expenses increasing from approximately 7% pre-pandemic to around 10% currently [10][12]. - Companies in the imaging equipment segment are expected to see improved performance in Q3 2025 as inventory issues are resolved and new procurement projects are executed [13][18]. High-Value Consumables - The high-value consumables sector has shown revenue growth in the first half of 2025, indicating a recovery from previous declines, with profit margins returning to levels seen in 2021 [32][33]. - Specific segments such as vascular intervention and orthopedics are highlighted for their resilience and growth potential, with companies like Huatai Medical and Weigao Orthopedics showing significant revenue increases [38][43]. IVD and Other Segments - The IVD sector is expected to see improvements by Q4 2025, with overall industry recovery projected for the first half of 2026 [4][30]. - The report emphasizes the importance of innovation and market expansion for companies in the rehabilitation and home medical device sectors, with firms like Sanofi and Kefu Medical showing strong growth despite market challenges [24][26].

Core Insights - The report highlights significant target price increases for several companies from September 15 to September 21, with Guizhou Moutai, Hanwang Technology, and Chunli Medical leading the way with target price increases of 77.12%, 72.37%, and 64.90% respectively, indicating strong bullish sentiment in the liquor, software development, and medical device sectors [1][2]. Target Price Increases - Guizhou Moutai (600519) received a target price of 2600.00 CNY, reflecting a 77.12% increase [2]. - Hanwang Technology (002362) has a target price of 42.23 CNY, with a 72.37% increase [2]. - Chunli Medical (688236) has a target price of 37.73 CNY, showing a 64.90% increase [2]. - Other notable companies include Ruip Bio (300119) with a 64.74% increase and Xindian Software (688232) with a 62.82% increase [2]. Broker Recommendations - A total of 510 companies received broker recommendations during the same period, with Huajin Technology and Hengxuan Technology each receiving 4 recommendations, and Chuangjiang New Material receiving 3 [3][4]. - Huajin Technology (603296) had a closing price of 97.93 CNY and was recommended by 4 brokers [4]. Rating Adjustments - Brokers raised ratings for 15 companies, including Bertley (10356) from "Hold" to "Buy" and Placo New Materials (300811) from "Hold" to "Buy" [5][6]. - Conversely, 15 companies had their ratings lowered, such as Jianshi Yuan (603369) from "Buy" to "Hold" [6]. First-Time Coverage - During the same period, 92 instances of first-time coverage were reported, with notable mentions including Rhein Biotech receiving a "Buy" rating from CITIC Securities and Xiamen Port receiving a "Recommended" rating from Huachuang Securities [7].

Group 1 - The core viewpoint of the article highlights significant target price increases for certain companies, with Guizhou Moutai, Hanwang Technology, and Chunli Medical leading the rankings with target price increases of 77.12%, 72.37%, and 64.90% respectively, across the liquor, software development, and medical device industries [1] Group 2 - From September 15 to September 21, a total of 223 target price adjustments were made by brokerages for listed companies, indicating active market analysis and adjustments [1] - During the same period, 15 companies had their ratings downgraded, including Jinsiyuan, which was downgraded from "Buy" to "Hold" by Zhongtai Securities, Nova Star Cloud from "Strong Buy" to "Recommended" by Huachuang Securities, and Qianli Technology from "Buy" to "Hold" by Zhongyou Securities [1]

证券之星消息，9月19日南向资金增持5.62万股春立医疗（01858.HK）。近5个交易日中，获南向资金增 持的有3天，累计净增持1.93万股。近20个交易日中，获南向资金减持的有9天，累计净减持232.25万 股。截至目前，南向资金持有春立医疗（01858.HK）4318.62万股，占公司已发行普通股的45.38%。 北京市春立正达医疗器械股份有限公司是一家主要从事植入性骨科医疗器械研发、生产及销售业务的中 国公司。该公司主要产品为关节假体产品及脊柱类植入产品。关节假体产品涵盖髋、膝、肩、肘四大人 体关节。脊柱类植入产品为脊柱内固定系统的全系列产品组合。该公司的产品出口至亚洲、南美洲、非 洲、大洋洲及欧洲等多个国家和地区。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 | 交易日 | 持股总数(股) | 持股变动(股) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-19 | 4318.62万 | 5.62万 | 0.13% | | 2025-09-18 | 4313.00万 | 14. ...

证券之星消息，截至2025年9月19日收盘，春立医疗(688236)报收于22.88元，上涨0.88%，换手率 1.18%，成交量3.4万手，成交额7882.82万元。 该股最近90天内共有5家机构给出评级，买入评级5家；过去90天内机构目标均价为31.46。 | | | | | 日期 收盘价 涨跌幅 主力净流入 主力净占比 游资净点比 散户净流入 散户净占比 | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-09-19 | 22.88 | 0.88% | 16.92万 | 0.21% | -20.05万 | -0.25% | 3.12万 | - 0.04% | | 2025-09-18 | 22.68 | -2.03% | -229.42万 | -5.21% | 67.17万 | 1.53% | 162.25万 | 3.69% | | 2025-09-17 | 23.15 | -1.45% | -197.25万 | -4.60% | -45.49万 | -1.06% | 242.75万 | 5.66% | | 2 ...

Group 1 - The core business of the company is focused on the research, production, and sales of implantable orthopedic medical devices, including joint prosthetics and spinal implants [2] - As of June 30, 2025, the company achieved a revenue of 488 million yuan, representing a year-on-year growth of 28.27%, and a net profit attributable to shareholders of 114 million yuan, with a year-on-year increase of 44.85% [2] - The company has distributed a total of 359 million yuan in dividends since its A-share listing, with 309 million yuan distributed over the past three years [3] Group 2 - As of September 18, 2023, the company's financing balance was 36.84 million yuan, accounting for 0.56% of its market capitalization, indicating a high level of financing activity [1] - The company had a total of 5,920 shareholders as of June 30, 2025, with a decrease of 17.57% compared to the previous period, while the average circulating shares per person increased by 341.41% [2] - The top ten circulating shareholders include significant institutional investors, with notable changes in holdings, such as an increase in shares held by Ping An Low Carbon Economy Mixed A [3]

| 交易日 | 持股总数(股) | 持股变动(股) | 变动幅度 | | --- | --- | --- | --- | | 2025-09-18 | 4313.00万 | 14.62万 | 0.34% | | 2025-09-17 | 4298.38万 | -17.12万 | -0.40% | | 2025-09-16 | 4315.50万 | -10.82万 | -0.25% | | 2025-09-15 | 4326.32万 | 9.62万 | 0.22% | | 2025-09-12 | 4316.70万 | -12.75万 | -0.29% | 证券之星消息，9月18日南向资金增持14.62万股春立医疗（01858.HK）。近5个交易日中，获南向资金 减持的有3天，累计净减持16.45万股。近20个交易日中，获南向资金减持的有9天，累计净减持230.32万 股。截至目前，南向资金持有春立医疗（01858.HK）4313.0万股，占公司已发行普通股的45.32%。 北京市春立正达医疗器械股份有限公司是一家主要从事植入性骨科医疗器械研发、生产及销售业务的中 国公司。该公司主要产品为关节假体产品及脊柱类植 ...

Core Viewpoint - The stock of Chunli Medical (688236) has experienced a decline in price and significant net outflow of funds, indicating potential investor concerns about its performance and market position [1][2]. Financial Performance - As of the latest report, Chunli Medical's total revenue for the first half of 2025 was 488 million yuan, representing a year-on-year increase of 28.27% [3]. - The net profit attributable to shareholders for the same period was 114 million yuan, up 44.85% year-on-year, while the net profit excluding non-recurring items reached 106 million yuan, marking a 61.09% increase [3]. - In Q2 2025, the company reported a single-quarter revenue of 258 million yuan, a significant year-on-year increase of 62.85%, and a net profit of approximately 56.4 million yuan, up 136.7% year-on-year [3]. Market Position and Valuation - Chunli Medical's total market capitalization is 8.699 billion yuan, which is below the industry average of 12.073 billion yuan, ranking 44 out of 123 in the medical device sector [3]. - The company's price-to-earnings (P/E) ratio is 38, compared to the industry average of 67.82, indicating a relatively lower valuation [3]. - The gross margin stands at 67.09%, significantly higher than the industry average of 51.85%, while the net margin is 23.48%, compared to the industry average of 10.39% [3]. Fund Flow Analysis - On September 18, 2025, Chunli Medical's stock price closed at 22.68 yuan, down 2.03%, with a turnover rate of 0.66% and a trading volume of 19,100 hands, resulting in a total transaction amount of approximately 43.997 million yuan [1]. - The net outflow of main funds on that day was 2.2942 million yuan, accounting for 5.21% of the total transaction amount, while retail investors saw a net inflow of 1.6225 million yuan, representing 3.69% of the total [1][2].

Group 1 - The core point of the news is that southbound funds have reduced their holdings in Chunli Medical (01858.HK) by 171,200 shares on September 17, 2025, marking a total net reduction of 251,000 shares over the last five trading days and 2,212,200 shares over the last twenty trading days [1][2] - As of now, southbound funds hold 42,983,800 shares of Chunli Medical, which represents 45.17% of the company's total issued ordinary shares [1][2] Group 2 - Chunli Medical is primarily engaged in the research, development, production, and sales of implantable orthopedic medical devices, with its main products including joint prosthetics and spinal implants [2] - The company's joint prosthetic products cover major human joints such as hip, knee, shoulder, and elbow, while its spinal implant products include a full range of spinal fixation systems [2] - Chunli Medical's products are exported to various countries and regions across Asia, South America, Africa, Oceania, and Europe [2]