Core Viewpoint - 联影医疗's stock closed at 130.89 yuan, down 1.58%, with a rolling PE ratio of 85.49 times, significantly higher than the industry average of 44.77 times [1][2] Company Summary - 联影医疗 focuses on providing high-performance medical imaging equipment, radiation therapy products, life science instruments, and digital healthcare solutions globally [1] - The company has made substantial investments in R&D, leading to a comprehensive product line that includes medical imaging devices and radiation therapy products [1] - It has undertaken nearly 40 national and provincial R&D projects, including around 20 major national science and technology projects, and has received numerous awards for its innovations [1] Financial Performance - In the latest Q3 2024 report, the company achieved a revenue of 69.54 billion yuan, a year-on-year decrease of 6.43%, and a net profit of 6.71 billion yuan, down 36.94% [2] - The gross profit margin for the company stands at 49.41% [2] Market Position - As of the Q3 2024 report, 551 institutions hold shares in 联影医疗, with a total shareholding of 13,321.64 million shares valued at 16.839 billion yuan [1] - The company's total market capitalization is 107.874 billion yuan, ranking it 106th in the medical device industry based on PE ratio [1][2]

Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown a mixed performance, with a recent increase but a decline over the past month and year-to-date [1] Group 1: Index Performance - The CSI Healthcare Equipment and Services Index rose by 0.32% to 13,285.51 points, with a trading volume of 13.924 billion yuan [1] - Over the past month, the index has decreased by 8.06%, while it has increased by 4.05% over the last three months and has declined by 3.25% year-to-date [1] Group 2: Index Composition - The index is composed of listed companies in the healthcare sector, reflecting the overall performance of these securities [1] - The top ten weighted companies in the index include Mindray Medical (9.16%), Aier Eye Hospital (8.31%), and United Imaging Healthcare (7.43%) [1] - The index is primarily composed of companies listed on the Shenzhen Stock Exchange (60.27%) and the Shanghai Stock Exchange (39.73%) [1] Group 3: Sample Adjustment and Fund Tracking - The index samples are adjusted biannually, with adjustments occurring on the second Friday of June and December [2] - Public funds tracking the healthcare index include several funds from Southern Asset Management and Tianhong Asset Management [2]

Group 1 - Company closed at 132.2 yuan, down 2.12%, with a rolling PE ratio of 86.34 times and a total market value of 1089.54 billion yuan [1] - The average PE ratio in the medical device industry is 46.21 times, with a median of 29.39 times, placing the company at the 107th position [1] - As of September 30, 2024, the number of shareholders increased to 18,812, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - For the third quarter of 2024, the company reported revenue of 6.954 billion yuan, a year-on-year decrease of 6.43%, and a net profit of 671 million yuan, down 36.94% [2] - The company's gross profit margin stands at 49.41% [2] - The company has undertaken nearly 40 national and provincial R&D projects, including about 20 national major science and technology projects [1]

Core Viewpoint - Shanghai United Imaging Healthcare Co., Ltd. has achieved significant milestones in obtaining medical device registrations, enhancing its competitive edge in the global market [1][2]. Group 1: Company Achievements - As of the end of Q1 2025, the company has registered products in over 80 countries and regions globally, with more than 140 products approved for market launch [1]. - The company has received FDA certification for 49 products and CE certification for another 49 products, including the complete uMI Panorama series [1]. - The uMR Jupiter is noted as the only full-body clinical ultra-high-field MRI system globally with NMPA, FDA, and CE approvals [1]. Group 2: Product Development and Market Strategy - The company has launched strategic innovative products in 2024, including the uLinac HalosTx precision radiotherapy system, uMR Max next-generation 3.0T MRI, and uAngio AVIVA intelligent suspension DSA [1]. - The acquisition of medical device registrations is expected to diversify the company's product offerings and meet varied clinical needs, thereby strengthening its core competitiveness [2]. - The company is developing products tailored to the specific needs of different countries and regions, facilitating the expansion of its product types available for sale internationally [2].

为便于投资者了解公司近期经营情况，现将公司 2025 年至今取得的境内和 主要境外市场医疗器械注册证情况公告如下： | 类别 | 产品名称 | 产品型号 | | | 有效期至 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | NMPA | 医用血管造影 X 射线机 | uAngio 960 X | 2027 | 年 | 12 | 月 | 29 | 日 | | | 磁共振成像系统 | uMR 600 Max | 2030 | 年 | 3 | 月 | 11 | 日 | | | 磁共振成像系统 | uMR 670 Max | 2030 | 年 | 3 | 月 | 25 | 日 | | | 正电子发射 X 射线计算机断层成 像系统 | uMI Panvivo | 2030 | 年 | 3 | 月 | 31 | 日 | | CE | 放射治疗轮廓勾画软件 | uIPW | 2029 | 年 | 12 | 月 | 29 | 日 | | | 放射治疗计划系统 | uTPS OmniplanTx | 2029 | 年 | 12 | 月 | 29 ...

Group 1 - Company closed at 127.18 yuan, up 4.25%, with a rolling PE ratio of 83.06 times and a total market value of 104.816 billion yuan [1] - The average PE ratio in the medical device industry is 46.46 times, with a median of 33.07 times, placing the company at the 105th position [1] - As of the Q3 2024 report, 551 institutions hold shares in the company, with a total of 133.2164 million shares valued at 16.839 billion yuan [1] Group 2 - For Q3 2024, the company reported revenue of 6.954 billion yuan, a year-on-year decrease of 6.43%, and a net profit of 671 million yuan, down 36.94% [2] - The company's gross profit margin stands at 49.41% [2] - The company has undertaken nearly 40 national and provincial R&D projects, including around 20 national major science and technology projects [1]

Investment Rating - The report assigns a "Hold" rating for the company, indicating a cautious approach towards investment in the current market conditions [5]. Core Insights - The company has established itself as a leader in the domestic medical imaging equipment market, with a strong focus on innovation and global market penetration [3][4]. - The domestic market is expected to recover significantly starting from Q4 2024, driven by large-scale equipment upgrades and a favorable policy environment [4]. - The company is actively expanding its product line, including the introduction of groundbreaking products and the integration of AI technologies, which are expected to enhance its competitive edge [5][40]. Summary by Sections Company Overview - Founded in 2011, the company has rapidly developed a comprehensive product line in medical imaging, radiation therapy, and life sciences, achieving leading market shares in MR, CT, PET, and DR categories [3][17]. - The company has established regional headquarters and R&D centers in various countries, enhancing its global presence and collaboration with international partners [17]. Market Trends - The global medical imaging equipment market is projected to exceed $60 billion by 2030, with the domestic market expected to reach over 100 billion yuan [48][53]. - The company is well-positioned to benefit from the increasing demand for high-end medical imaging equipment, as domestic brands gradually replace imported products [67]. Financial Performance - The company has shown a compound annual growth rate (CAGR) of over 25% in revenue from 2020 to 2023, with a significant recovery in net profit following a period of losses [23][28]. - Revenue from medical imaging equipment sales constitutes approximately 87% of total revenue, with CT and MR products accounting for nearly 70% of sales [28][30]. Innovation and R&D - The company invests heavily in R&D, with an average of 19.63% of revenue allocated to research activities from 2018 to 2023, positioning it among the leaders in the industry [40][42]. - The company has developed a robust patent portfolio, with over 4,134 authorized patents, ensuring a strong competitive position in the market [47]. Product Development - The company has launched several innovative products, including the uMR Jupiter 5T and uLinac HalosTx, which have received high industry recognition [5][71]. - The integration of AI technologies into its product offerings is expected to create new business opportunities and enhance operational efficiency [5][71].

股票代码：688271 上市公司名称：上海联影医疗科技股份有限公司 股票简称：联影医疗 股票上市地点：上海证券交易所 五、本次权益变动是根据本报告书所载明的资料进行的。除信息披露义务 人外，没有委托或者授权任何其他人提供未在本报告中列载的信息和对本报告 做出任何解释或者说明。 六、信息披露义务人承诺本报告书不存在虚假记载、误导性陈述或重大遗 漏，并对其真实性、准确性、完整性承担个别和连带的法律责任。 信息披露义务人1：上海中科道富投资合伙企业（有限合伙） 住所及通讯地址：中国(上海)自由贸易试验区临港新片区环湖西二路888号C楼 信息披露义务人2：上海北元投资合伙企业（有限合伙） 住所及通讯地址：中国(上海)自由贸易试验区临港新片区环湖西二路888号C楼 股份变动性质：股份减少（询价转让） 签署日期：2025年3月21日 1 一、信息披露义务人依据《中华人民共和国公司法》、《中华人民共和国证 券法》、《上市公司收购管理办法》、《公开发行证券的公司信息披露内容与 格式准则第15号——权益变动报告书》及相关的法律、法规和规范性文件编写。 二、信息披露义务人签署本报告书已获得必要的授权和批准。 三、依据《中华人民共 ...

证券代码：688271 证券简称：联影医疗 公告编号：2025-005 上海联影医疗科技股份有限公司 股东询价转让结果报告书暨持股 5%以上股东 持有权益比例降至 5%以下的权益变动提示性公告 上海中科道富投资合伙企业（有限合伙）（以下简称"中科道富"）、上海北元 投资合伙企业（有限合伙）（以下简称"北元投资"）（以下合称"转让方"）保证向 上海联影医疗科技股份有限公司（以下简称"公司"、"上市公司"、"联影医疗"） 提供的信息内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其真实性、 准确性和完整性依法承担法律责任。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 重要内容提示: 本次询价转让的价格为 108.66 元/股，转让的股票数量为 29,086,400 股。 公司控股股东、实际控制人、董事、监事及高级管理人员不参与本次询 价转让。 本次转让不会导致公司控股股东、实际控制人发生变化。 本次权益变动后，中科道富及其一致行动人持股比例持股比例由 8.52922% 减少至 4.99999%，持有权益比例将至 5%以下。 一、 转让方情况 (一)转让方基本情况 截至 2025 年 3 ...

中国国际金融股份有限公司 关于上海联影医疗科技股份有限公司 股东向特定机构投资者询价转让股份的核查报告 中国国际金融股份有限公司（以下简称"中金公司""组织券商"）受上海联影 医疗科技股份有限公司（以下简称"联影医疗""公司""上市公司"）股东上海中 科道富投资合伙企业（有限合伙）（以下简称"中科道富"）、上海北元投资合伙企 业（有限合伙）（以下简称"北元投资"）（以下合称"出让方"）委托，组织实施 本次联影医疗股东向特定机构投资者询价转让（以下简称"本次询价转让"）。 经核查，中金公司就本次询价转让的出让方、受让方是否符合《上海证券交易所 科创板上市公司自律监管指引第 4 号——询价转让和配售》（以下简称"《询价转让 和配售指引》"）要求，本次询价转让的询价、转让过程与结果是否公平、公正，是 否符合《询价转让和配售指引》的规定作出如下报告说明。 一、本次询价转让概述 （一）本次询价转让出让方 截至2025年3月14日，出让方所持公司股份的数量、比例情况如下： | 出让方名称 | 截至2025年3月14日收盘持股数量（股） | 持股比例 | | --- | --- | --- | | 中科道富 | 41,46 ...