证券代码：688236 证券简称：春立医疗 公告编号：2026-002 北京市春立正达医疗器械股份有限公司 2025 年年度业绩预增公告 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。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 （1）经财务部门初步测算，预计 2025 年年度实现归属于母公司所有者的净 利润为 24,498.80 万元至 28,798.80 万元，与上年同期相比，将增加 12,000.00 万元至 16,300.00 万元，同比上升 96.01%至 130.41%。 （2）归属于母公司所有者的扣除非经常性损益的净利润为 22,953.60 万元 至 26,953.60 万元，与上年同期相比，将增加 13,500.00 万元至 17,500.00 万元， 同比上升 142.80%至 185.11%。 （三）本次业绩预告未经注册会计师审计。公司已就业绩预告有关事项与年报审 计会计师事务所进行了预沟通，公司与会计师事务所在业绩 ...

南财智讯1月29日电，春立医疗公告，预计2025年全年归属于上市公司股东的净利润为2.45亿元—2.88亿 元，同比预增96.01%—130.41%；预计2025年全年归属于上市公司股东的扣除非经常性损益的净利润为 2.30亿元—2.70亿元，同比预增142.80%—185.11%；主要变动原因为：2025年度，公司归属于上市公司 股东的净利润及扣除非经常性损益的净利润较上年同期均实现大幅增长。报告期内，公司各产品线纳入 集采后逐步释放增长潜力，同时公司持续贯彻国际化发展战略，稳步推进国际化业务布局，内外并举推 动营业收入实现持续稳定健康发展。此外，公司聚焦经营管理水平提升，优化资源配置等举措，进一步 提升经营效率、增强整体盈利能力，为业绩增长提供了坚实有力的支撑。 ...

春立医疗融资融券信息显示，融资方面，当日融资买入740.78万元，融资偿还656.02万元，融资净买入 84.76万元。融券方面，融券卖出0.0股，融券偿还0.0股，融券余量1.24万股，融券余额31.99万元。融资 融券余额4090.05万元。 证券之星消息，截至2026年1月27日收盘，春立医疗(688236)报收于25.8元，下跌3.04%，换手率 0.87%，成交量2.5万手，成交额6458.86万元。 1月27日的资金流向数据方面，主力资金净流出13.76万元，占总成交额0.21%，游资资金净流入263.09 万元，占总成交额4.07%，散户资金净流出249.34万元，占总成交额3.86%。 近5日资金流向一览见下表： 该股主要指标及行业内排名如下： 春立医疗2025年三季报显示，前三季度公司主营收入7.56亿元，同比上升48.75%；归母净利润1.92亿 元，同比上升213.21%；扣非净利润1.81亿元，同比上升311.07%；其中2025年第三季度，公司单季度主 营收入2.68亿元，同比上升109.51%；单季度归母净利润7706.19万元，同比上升531.12%；单季度扣非 净利润7451. ...

Group 1 - The core viewpoint is that innovative drugs are expected to show significant excess returns in 2025, driven by continuous BD overseas expansion, excellent clinical data, and policy support [1] - The CXO sector is anticipated to experience substantial growth due to the recovery in demand and improved investment environment in the global pharmaceutical industry [1] - The report emphasizes the importance of focusing on new technologies, particularly bispecific antibodies, small nucleic acid drugs, AI healthcare, and brain-computer interface innovations [3] Group 2 - Domestic supply and demand are relatively stable, with national health expenditure showing a year-on-year growth of 4.7% from January to November 2025, marking a positive turnaround after two years of decline [2] - The medical insurance fund's income and expenditure growth rates continue to decline, with total income of 2.63 trillion yuan (+2.9%) and expenditure of 2.11 trillion yuan (+0.5%) from January to November [2] - The report suggests that the commercialization of new drug forms is entering a critical phase, with significant clinical data supporting the application of B-cell depletion therapies in autoimmune diseases [3] Group 3 - Investment recommendations include focusing on innovative overseas expansion and new technology directions, with suggested stocks such as Mindray Medical, WuXi AppTec, and others [4] - The report highlights the potential for explosive growth in the global market for brain-computer interfaces, supported by policy incentives and technological breakthroughs [3]

近5日资金流向一览见下表： 证券之星消息，截至2026年1月26日收盘，春立医疗(688236)报收于26.61元，下跌1.11%，换手率 0.79%，成交量2.28万手，成交额6098.04万元。 1月26日的资金流向数据方面，主力资金净流出372.24万元，占总成交额6.1%，游资资金净流出24.28万 元，占总成交额0.4%，散户资金净流入396.52万元，占总成交额6.5%。 春立医疗2025年三季报显示，前三季度公司主营收入7.56亿元，同比上升48.75%；归母净利润1.92亿 元，同比上升213.21%；扣非净利润1.81亿元，同比上升311.07%；其中2025年第三季度，公司单季度主 营收入2.68亿元，同比上升109.51%；单季度归母净利润7706.19万元，同比上升531.12%；单季度扣非 净利润7451.86万元，同比上升439.4%；负债率15.65%，投资收益321.7万元，财务费用-972.34万元，毛 利率67.27%。春立医疗（688236）主营业务：植入性骨科医疗器械的研发、生产与销售。 该股最近90天内共有8家机构给出评级，买入评级8家；过去90天内机构目标均价为31 ...

Core Insights - Southbound funds increased their holdings in Chuangli Medical (01858.HK) by 21,200 shares on January 23 [1] - Over the past five trading days, there have been five days of net increases in holdings, totaling 995,300 shares [1] - In the last twenty trading days, there were eight days of net reductions, amounting to 2,141,500 shares [1] - Currently, southbound funds hold 42,367,800 shares of Chuangli Medical, representing 44.52% of the company's issued ordinary shares [1] Company Overview - Beijing Chuangli Zhengda Medical Device Co., Ltd. primarily engages in the research, development, production, and sales of implantable orthopedic medical devices [1] - The company's main products include joint prosthetics, spinal implants, trauma products, sports medicine products, platelet-rich plasma (PRP) products, oral products, and surgical robots [1] - Joint prosthetics cover four major human joints: hip, knee, shoulder, and elbow [1] - The company's products are sold in both domestic and international markets [1]

Core Viewpoint - Spring Medical (688236) shows significant growth in revenue and net profit for the first three quarters of 2025, indicating strong performance in the orthopedic medical device sector [2] Financial Performance - For the first three quarters of 2025, the company reported a main revenue of 756 million yuan, an increase of 48.75% year-on-year [2] - The net profit attributable to shareholders reached 192 million yuan, up 213.21% year-on-year [2] - The non-recurring net profit was 181 million yuan, reflecting a substantial increase of 311.07% year-on-year [2] - In Q3 2025 alone, the company achieved a main revenue of 268 million yuan, a remarkable rise of 109.51% year-on-year [2] - The quarterly net profit attributable to shareholders was 77.06 million yuan, soaring by 531.12% year-on-year [2] - The quarterly non-recurring net profit stood at 74.52 million yuan, an increase of 439.4% year-on-year [2] - The company's debt ratio is reported at 15.65%, with investment income of 3.217 million yuan and financial expenses of -9.7234 million yuan [2] - The gross profit margin is noted at 67.27% [2] Market Activity - As of January 23, 2026, the stock closed at 26.91 yuan, with a 1.17% increase [1] - The turnover rate was 0.73%, with a trading volume of 21,200 hands and a transaction amount of 57.25 million yuan [1] - On January 23, the net outflow of main funds was 145,000 yuan, accounting for 0.25% of the total transaction amount [1] - Retail investors saw a net inflow of 3.0137 million yuan, representing 5.26% of the total transaction amount [1] - Over the past 90 days, 8 institutions have rated the stock, all giving a buy rating, with an average target price of 31.7 yuan [2]

Group 1 - The core viewpoint of the article highlights the recent increase in southbound capital holdings in Chunli Medical (01858.HK), with a net increase of 113,800 shares on January 22 [1] - Over the past five trading days, Chunli Medical has seen an increase in southbound capital for four days, totaling a net increase of 865,300 shares [1] - In the last twenty trading days, there were eight days of net reduction in southbound capital, amounting to a total decrease of 1,949,000 shares [1] Group 2 - As of now, southbound capital holds 42,346,600 shares of Chunli Medical, representing 44.5% of the company's total issued ordinary shares [1] - Chunli Medical is primarily engaged in the research, production, and sales of implantable orthopedic medical devices, with key products including joint prosthetics, spinal implants, trauma products, sports medicine products, PRP products, oral products, and surgical robots [1] - The company's joint prosthetic products cover major human joints such as hip, knee, shoulder, and elbow, and its products are sold in both domestic and international markets [1]

Core Viewpoint - Spring Medical (688236) shows strong financial performance with significant year-on-year growth in revenue and net profit, indicating a positive outlook for the company in the orthopedic medical device sector [2]. Financial Performance - For the first three quarters of 2025, Spring Medical reported a main revenue of 756 million yuan, an increase of 48.75% year-on-year [2]. - The net profit attributable to shareholders reached 192 million yuan, up 213.21% year-on-year [2]. - The net profit excluding non-recurring items was 181 million yuan, reflecting a substantial increase of 311.07% year-on-year [2]. - In Q3 2025 alone, the company achieved a main revenue of 268 million yuan, a remarkable rise of 109.51% year-on-year [2]. - The quarterly net profit attributable to shareholders was 77.06 million yuan, soaring by 531.12% year-on-year [2]. - The quarterly net profit excluding non-recurring items was 74.52 million yuan, up 439.4% year-on-year [2]. - The company's debt ratio stands at 15.65%, with investment income of 3.217 million yuan and financial expenses of -9.7234 million yuan [2]. - The gross profit margin is reported at 67.27% [2]. Market Activity - As of January 22, 2026, Spring Medical's stock closed at 26.6 yuan, down 0.64%, with a turnover rate of 0.72% and a trading volume of 20,700 hands, amounting to a transaction value of 55.49 million yuan [1]. - On January 22, the net outflow of main funds was 4.5364 million yuan, accounting for 8.18% of the total transaction value, while retail investors saw a net inflow of 1.1627 million yuan, representing 2.1% of the total [1]. Analyst Ratings - In the last 90 days, 8 institutions have rated Spring Medical with a "buy" recommendation, and the average target price set by these institutions is 31.7 yuan [3].

Investment Rating - The industry investment rating is "Increase Holding" [2][5] Core Insights - The recent release of the "Guidelines for the Pricing of Surgical and Treatment Auxiliary Medical Services" by the National Medical Insurance Administration aims to standardize pricing for innovative medical technologies, including surgical robots, which is expected to accelerate clinical application [4] - The guidelines introduce a tiered pricing model based on the level of participation and clinical value of surgical robots, allowing for higher fees for more advanced functionalities [4] - The establishment of a new pricing project for "Remote Surgical Assistance" facilitates the practical application of remote surgery, enhancing access to quality medical resources across regions [4] - The guidelines clarify the boundaries between consumable costs and technical service fees, promoting transparency and reducing unreasonable price increases in the industry [4] - The inclusion of medical data storage and device operation records in the pricing structure is expected to support future technological iterations and application expansions [4] Summary by Sections Industry Overview - The industry comprises 133 listed companies with a total market value of 14,628.56 billion and a circulating market value of 13,032.75 billion [2] Policy Impact - The new pricing guidelines are anticipated to break the commercialization bottleneck of surgical robots, emphasizing the need for continuous innovation among companies [4] - Companies with technological accumulation and high product maturity, such as Tianzhihang-U, Jingfeng Medical-B, and others, are expected to benefit from the inclusion of robotic-assisted surgery projects in local medical insurance directories [4]