FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2024年4月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 北京市春立正達醫療器械股份有限公司 呈交日期: 2024年5月7日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 01858 | 說明 | H股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 95,140,500 | RMB | | 1 RMB | | 95,140,500 | | 增加 / 減少 (-) | | | 0 | | | RMB | | 0 | | 本月底結存 | | | 95,140,500 | RMB | | 1 RMB | | 95,140,500 | | 2. 股份分類 | 普通股 | 股份類別 | A | ...

Financial Performance - For Q1 2024, the company's operating revenue was RMB 221,850,180.79, representing a decrease of 9.95% compared to the same period last year[5]. - The net profit attributable to shareholders was RMB 55,199,616.28, reflecting a decline of 1.18% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was RMB 48,882,462.10, down by 1.46% compared to the previous year[6]. - Basic and diluted earnings per share were both RMB 0.14, a decrease of 6.67% year-on-year[6]. - Operating profit for Q1 2024 was $59.33 million, a decrease of 3.25% from $62.34 million in Q1 2023[19]. - Total profit for Q1 2024 was $60.16 million, down from $62.23 million in the same period last year, representing a decline of 3.41%[19]. - Net profit attributable to shareholders for Q1 2024 was $55.20 million, compared to $55.86 million in Q1 2023, reflecting a decrease of 1.18%[19]. Cash Flow - The net cash flow from operating activities was negative at RMB -129,613,339.07, indicating a significant cash outflow[6]. - Cash inflow from operating activities for Q1 2024 was $217.43 million, slightly up from $212.80 million in Q1 2023, an increase of 2.54%[20]. - Cash outflow from operating activities totaled $347.04 million in Q1 2024, compared to $333.00 million in Q1 2023, an increase of 4.22%[20]. - Net cash flow from operating activities was -$129.61 million in Q1 2024, worsening from -$120.20 million in Q1 2023[20]. - Cash inflow from investment activities was $837.23 million in Q1 2024, up from $771.18 million in Q1 2023, an increase of 8.56%[21]. - Cash outflow from investment activities was $753.50 million in Q1 2024, slightly down from $769.63 million in Q1 2023, a decrease of 2.09%[21]. - Net cash flow from investment activities was $83.73 million in Q1 2024, significantly up from $1.55 million in Q1 2023[21]. - Cash and cash equivalents at the end of Q1 2024 were $1.22 billion, compared to $838.34 million at the end of Q1 2023, an increase of 45.66%[22]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 3,542,662,190.69, down 2.93% from the end of the previous year[6]. - Total liabilities decreased to CNY 608,374,106.90 from CNY 770,325,491.93, a reduction of 21.03%[16]. - Current liabilities totaled CNY 514,691,217.05, down 23.99% from CNY 676,672,835.51 in the previous year[16]. - The company's cash and cash equivalents as of March 31, 2024, amount to ¥1,220,478,879.78, a decrease from ¥1,266,367,522.67 at the end of 2023[14]. - The company's inventory as of March 31, 2024, is ¥476,158,025.23, an increase from ¥434,485,725.70 at the end of 2023[14]. - The company's accounts receivable increased to ¥418,285,561.50 from ¥405,895,527.39 at the end of 2023[14]. - The total trading financial assets decreased to ¥741,195,087.52 from ¥832,019,095.90 at the end of 2023[14]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 6,133, with 6,116 A-share holders and 17 H-share holders[11]. - The largest shareholder, Shi Chunbao, holds 114,840,685 shares, representing 29.94% of the total shares[10]. - The second-largest shareholder, Yue Shujun, holds 95,447,900 shares, accounting for 24.88% of the total shares[10]. - The company has not reported any changes in the top 10 shareholders due to securities lending activities[12]. - The company has not disclosed any related party relationships among the top 10 shareholders[11]. Research and Development - Research and development expenses totaled RMB 34,991,868.71, accounting for 15.77% of operating revenue, an increase of 2.26 percentage points year-on-year[6]. - Research and development expenses increased to CNY 34,991,868.71, up 5.18% from CNY 33,270,315.66 in Q1 2023[18]. Government Subsidies - The company recognized government subsidies amounting to RMB 2,607,636.22 as part of non-recurring gains[7]. - The company reported a total of RMB 6,317,154.18 in non-recurring gains after tax, indicating ongoing financial impacts from certain government policies[8]. Operational Situation - There are no significant reminders regarding the company's operational situation during the reporting period[13].

Financial Performance - In 2023, the company achieved operating revenue of RMB 1,208.52 million, a year-on-year increase of 0.58%[9]. - The net profit attributable to shareholders of the listed company was RMB 277.82 million, a decrease of 9.72% year-on-year[9]. - The basic earnings per share were RMB 0.72, reflecting a decline of 10.00% year-on-year[9]. - The company's gross profit decreased by 4.12% from approximately RMB 913.53 million in 2022 to approximately RMB 875.89 million in 2023, with a gross profit margin dropping from 76.03% to 72.48%[29]. - The company's net profit decreased from approximately RMB 307.72 million in 2022 to approximately RMB 277.82 million in 2023, primarily due to the impact of national procurement policies on product pricing[32]. - The total comprehensive income for the year was RMB 277,818,116.48, down from RMB 307,719,145.65 in the previous year[192]. - The company reported an investment income of RMB 12,012,452.06, significantly up from RMB 6,748,241.12 in the previous year[191]. - The operating profit decreased to RMB 305,975,463.53, down 6.9% from RMB 328,908,764.68 in the prior year[191]. Assets and Liabilities - The total assets of the company reached RMB 3,649.56 million, an increase of 7.03% compared to the end of the previous year[9]. - The total equity attributable to shareholders of the listed company was RMB 2,877.47 million, an increase of 5.80% year-on-year[9]. - The company's cash and cash equivalents increased by 32.30% from approximately RMB 957.19 million in 2022 to approximately RMB 1,266.37 million in 2023, mainly due to increased customer payments[33]. - Total liabilities increased to RMB 770,325,491.93 from RMB 690,066,911.19, reflecting a growth of approximately 11.6%[186]. - The company's retained earnings increased to RMB 1,267,513,008.25 from RMB 1,136,732,358.10, marking a growth of about 11.5%[187]. Research and Development - In 2023, the company's R&D investment reached CNY 157,445,504.26, accounting for 13.03% of its operating revenue[11]. - The company is actively involved in national key R&D projects, including the development of porous tantalum bone repair materials and clinical applications[13]. - The company is expanding its research and development capabilities by establishing a product R&D center at its new production base in Daxing, focusing on joint products, spinal products, and trauma products[48]. - The company is committed to continuous product innovation and aims to narrow the gap with international leaders in the orthopedic sector, aspiring to become a world-class orthopedic innovation enterprise[23]. Market Strategy and Expansion - The company aims to maintain its leading position in the domestic joint prosthesis market and increase its market share while expanding its orthopedic product line[18]. - The company accelerated the development of new products and expanded its domestic and international market share[8]. - The company adopted a multi-channel marketing strategy, including offline distribution and direct sales, to promote its products domestically[10]. - The company plans to enhance its market share by seeking advanced technologies and excellent products in related orthopedic fields[26]. - A strategic plan to enter the Southeast Asian market is underway, with an initial investment of $5 million allocated for market research and local partnerships[60]. Corporate Governance - The company emphasizes the importance of governance structure and internal control effectiveness, having revised the Independent Director Work System in 2023 to align with regulatory requirements[20]. - The company aims to improve investor relations by enhancing information disclosure quality and maintaining transparent communication through various channels, thereby establishing a positive corporate image in the capital market[21]. - The board of directors consists of eight members, including four executive directors, one non-executive director, and three independent non-executive directors, complying with listing rules[107]. - The company has adopted a standard code for securities trading by directors and supervisors, confirming compliance for the year ended December 31, 2023[58]. Environmental and Social Responsibility - The company has implemented a comprehensive environmental management system to minimize its impact on natural resources and comply with relevant environmental laws[149]. - The company aims to reduce electricity consumption from 60.9 kWh per RMB 10,000 in 2020 to 43 kWh by 2030, achieving a 29.4% decrease[154]. - The company has established a whistleblowing procedure for employees to report concerns regarding criminal offenses or financial misconduct[145]. - The company has been actively involved in community investment, donating over CNY 100,000 in flood relief materials in 2023[168]. Employee Management - The company has approximately 1,231 employees as of December 31, 2023, with total salary and related costs amounting to RMB 233.87 million for the year[51]. - The company continues to implement a talent development policy and has established an effective incentive mechanism to motivate employees[50]. - The turnover rate for employees under 30 years old was 36.48%, significantly higher than other age groups[155]. - The training completion rate for new employees was 100%, with an average training duration of 137 hours[158]. Future Outlook - The company projects a revenue growth of 25% for the next fiscal year, driven by new product launches and market expansion strategies[60]. - The company plans to enhance its capital operation channels and improve its risk resistance through active communication in the capital market[16]. - The company aims to enhance its research and development capabilities for new technologies[199]. - The company is exploring potential mergers and acquisitions to strengthen its market position[199].

Financial Performance - The company's operating revenue for Q1 2024 was ¥221,850,180.79, representing a decrease of 9.95% compared to the same period last year[9]. - The net profit attributable to shareholders for Q1 2024 was ¥55,199,616.28, down by 1.18% year-on-year[9]. - The net profit after deducting non-recurring gains and losses was ¥48,882,462.10, a decrease of 1.46% compared to the previous year[9]. - The total comprehensive income attributable to the parent company was CNY 55,199,616.28, a decrease from CNY 55,861,404.05 in the previous period[23]. - The company reported a decrease in comprehensive income total to CNY 55,107,063.21 from CNY 55,861,404.05[23]. - Basic and diluted earnings per share were both CNY 0.14, down from CNY 0.15 in the previous period[23]. Cash Flow - The net cash flow from operating activities was negative at ¥129,613,339.07, indicating a significant cash outflow[9]. - The cash flow from operating activities showed a significant impact from the changes in cash and cash equivalents[25]. - In Q1 2024, the company reported cash inflows from operating activities totaling CNY 217,425,731.31, compared to CNY 212,802,558.95 in Q1 2023, reflecting a slight increase of approximately 1.5%[42]. - The net cash outflow from operating activities was CNY -129,613,339.07, which is a decrease in outflow compared to CNY -120,197,574.28 in the same period last year[43]. - The company achieved cash inflows from investment activities of CNY 837,229,065.92, up from CNY 771,181,481.64 in Q1 2023, indicating an increase of about 8.6%[43]. - The net cash flow from investment activities was CNY 83,728,306.55, significantly higher than CNY 1,551,246.27 in Q1 2023[43]. - The company reported a significant increase in cash received from investment recoveries, totaling CNY 831,300,000.00 in Q1 2024, compared to CNY 765,000,000.00 in Q1 2023[43]. Assets and Liabilities - The total assets at the end of Q1 2024 were ¥3,542,662,190.69, a decrease of 2.93% from the end of the previous year[12]. - Total current assets as of March 31, 2024, were CNY 2,899,501,388.96, down from CNY 3,005,359,817.46 at the end of 2023, representing a decrease of approximately 3.5%[45]. - The company's cash and cash equivalents decreased to CNY 1,220,478,879.78 from CNY 1,266,367,522.67, a decline of about 3.6%[45]. - The total liabilities decreased from CNY 676,672,835.51 to CNY 514,691,217.05, indicating a reduction of approximately 23.9%[42]. - Total liabilities amounted to CNY 608,374,106.90, down from CNY 770,325,491.93 in the previous period[47]. - The company's intangible assets slightly decreased from CNY 136,270,839.38 to CNY 133,622,900.88, a decline of about 2.0%[42]. - Minority interests decreased to CNY 1,621,614.17 from CNY 1,768,579.61, indicating a reduction in minority shareholder equity[47]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 6,133[14]. - The largest shareholder, Shi Chunbao, holds 29.94% of the shares, totaling 114,840,685 shares[14]. - The total number of ordinary shareholders was 6,133, with 6,116 holding A shares and 17 holding H shares[34]. - The top ten shareholders included HKSCC NOMINEES LIMITED with 95,125,175 shares, representing 24.80% of total shares[30]. Research and Development - Research and development expenses totaled ¥34,991,868.71, which accounted for 15.77% of operating revenue, an increase of 2.26 percentage points year-on-year[12]. Other Financial Metrics - The weighted average return on equity was 1.90%, a decrease of 0.13 percentage points compared to the previous year[12]. - The basic and diluted earnings per share were both ¥0.14, reflecting a decline of 6.67% year-on-year[12]. - The company's retained earnings increased to CNY 1,322,712,624.53 from CNY 1,267,513,008.25, reflecting a growth of approximately 4.36%[47]. - Non-current liabilities totaled CNY 93,682,889.85, slightly up from CNY 93,652,656.42[47]. - The company reported no net profit from the merged entity prior to the merger, consistent with the previous period[50]. - The company has not adopted new accounting standards for the current year, indicating stability in financial reporting practices[53].

（於 中 華 人 民 共 和 國 註 冊 成 立 的 股 份 有 限 公 司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 表 明 概 不 就 因 本 公 告 全 部 或 任 何 部 分 內 容 而 產 生 或 因 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 北京市春立正達醫療器械股份有限公司 Beijing Chunlizhengda Medical Instruments Co., Ltd.* * 僅供識別 北京市春立正達醫療器械股份有限公司（「本公司」）之董事會（「董事會」）謹此宣 佈將於2024年4月29日（星 期 一）舉 行 董 事 會 會 議，藉 以（其 中 包 括）批准本公司及 其附屬公司截至2024年3月31日止三個月之第一季度業績公佈及考慮派付中期 股 息（如 有）。 代表董事會 北京市春立正達醫療器械股份有限公司 董事長 史文玲 中 國，北 京，2024年4月17日 截 至 本 公 告 日 期，執 行 董 事 為 史 春 寶 先 生、岳 術 俊 女 ...

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688236.SH | --- | --- | --- | |----------------------------------------------|------------|---------| | | | | | 发行股数 ( 百万 ) | | 383.57 | | 流通股 ( 百万 ) | | 174.44 | | 总市值 ( 人民币 百万 ) | | 6619.13 | | 3 个月日均交易额 ( 人民币 | 百万 ) | 34.53 | | 主要股东 | | | | 史春宝 | | 29.94 | | 资料来源：公司公告， Wind | ，中银证券 | | | 以 2024 年 4 月 3 日收市价为标准 | | | yuan.xue_sh@bocichina.com 一般证券业务证书编号：S1300122110008 公司 2023 年实现营业收入 12.1 亿元，同比增长 0.6%，实现归母净利润 2.8 亿元，同比下降 9.7%，业绩短期承压，海外业务增速亮眼，预计随着集采影 响逐步出清，研发创新不断落地，公司业绩将恢复较快增长，维持买入评级。 | --- | --- | --- | - ...

FF301 本月底法定/註冊股本總額： RMB 383,568,500 | 383,568,500 | | --- | | 2. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 | 688236 | 說明 | | 於上海證券交易所上市的A股 | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 288,428,000 | RMB | | 1 | RMB | | 288,428,000 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 288,428,000 | RMB | | 1 | RMB | | 288,428,000 | 呈交日期: 2024年4月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) ...

Investment Rating - The report maintains a "Recommended" rating for the company, with a target price of approximately 26 yuan based on a 30x valuation for 2024 [25][31][43]. Core Insights - The company's revenue for 2023 was 1.209 billion yuan, showing a slight increase of 0.58% year-on-year, while the net profit attributable to shareholders was 278 million yuan, reflecting a decrease of 9.72% [30]. - The report highlights that the company's joint product revenue grew steadily to 1.101 billion yuan (+5.18%), while other product revenue declined significantly by 29.94% to 107 million yuan [3]. - Domestic revenue fell by 7.40% to 1.009 billion yuan due to factors like centralized procurement, while overseas revenue surged by 81.73% to 198 million yuan, indicating successful international market expansion [3]. - The overall gross margin decreased to 72.48% (-3.55 percentage points), with domestic gross margin at 74.21% (-3.10 percentage points) and overseas gross margin at 63.80% (+0.74 percentage points) [3]. - The report anticipates that the upcoming joint procurement renewal in January 2024 could provide performance elasticity, particularly if the company successfully regains its knee joint procurement status [3][31]. Financial Summary - The projected revenue for 2024-2026 is expected to be 1.512 billion yuan, 1.911 billion yuan, and 2.404 billion yuan, with year-on-year growth rates of 25.1%, 26.4%, and 25.8% respectively [31]. - The net profit attributable to shareholders for the same period is forecasted to be 334 million yuan, 402 million yuan, and 503 million yuan, with growth rates of 20.4%, 20.1%, and 25.1% [31]. - Earnings per share (EPS) are projected to be 0.87 yuan, 1.05 yuan, and 1.31 yuan for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings (P/E) ratios of 22, 18, and 14 [31].

Investment Rating - The report maintains a rating of "Buy" for the company, with a target price adjusted to 27.63 CNY from the previous 32.30 CNY [6][14][13]. Core Insights - The company's performance in 2023 met expectations, with total revenue of 1.209 billion CNY, reflecting a slight increase of 0.6% year-on-year. However, the net profit attributable to shareholders decreased by 9.7% to 278 million CNY [13][6]. - The report highlights a significant improvement in cash flow, with operating cash flow reaching 512 million CNY, a substantial increase compared to the previous year [13]. - Domestic sales experienced a decline of 7.4% to 1.009 billion CNY, while overseas sales surged by 81.7% to 198 million CNY, indicating strong international market performance [13][6]. - The company continues to invest in research and development, with expenditures reaching 157 million CNY in 2023, focusing on innovation in orthopedic products [13]. Financial Summary - Revenue Forecast: - 2023: 1.209 billion CNY - 2024: 1.510 billion CNY (projected growth of 25%) - 2025: 1.961 billion CNY (projected growth of 30%) [13][6]. - Net Profit Forecast: - 2023: 278 million CNY - 2024: 353 million CNY (projected growth of 27%) - 2025: 464 million CNY (projected growth of 31%) [13][6]. - Earnings Per Share (EPS) Forecast: - 2023: 0.72 CNY - 2024: 0.92 CNY - 2025: 1.21 CNY - 2026: 1.51 CNY [13][6]. Valuation Metrics - The report provides valuation metrics, including: - Price-to-Earnings (PE) ratio for 2024E: 30X - Expected dividend per share for 2024: 0.40 CNY [13][6]. - The company's market capitalization is reported at 7.226 billion CNY, with a current share price of 18.84 CNY [15][6].