格隆汇9月8日丨麦澜德(688273.SH)在投资者互动平台表示，在人工智能领域，1）公司持续深化AI在盆 底康复领域的应用。依托临床大数据与大模型技术，实现对评估数据的智能深度分析，并为患者提供高 度个性化诊疗方案； 2）公司积极推动AI智能体在企业级场景的深度应用，构建了以大语言模型(LLM) 为核心、垂直领域知识库为支撑的智能交互系统，并推出报告解读智能体与盆底健康知识问答智能体， 为盆底疾病患者提供专业的医疗报告解析及个性化家庭训练方案规划； 3）依托PI-ONE系统的技术积 累，公司将多维度生物数据整合与AI算法深度融合，构建覆盖"检测-评估-方案-干预"全流程的智能美容 诊疗平台，实现从皮肤状态量化分析到个性化美容方案的智能决策支持。 在脑机接口领域，公司聚焦 非侵入式脑机接口方向，目前已在上肢和手部运动机器人、无创神经调控、多模态生理信号采集等领域 形成技术积累。公司也在积极推进多模态闭环神经调控系统及情感交互认知诊疗系统的研发工作，后续 将按计划推动相关产品的产业化进程，致力于构建更为完整的脑机接口产品矩阵。在研项目方面，1） 公司牵头的国家重点研发计划"多模态情感交互式诊疗装备研发"，目前处 ...

2022 年 8 月 11 日，南京麦澜德医疗科技股份有限公司（以下简称"麦澜德"或 "公司"）在上海证券交易所科创板上市。根据《证券发行上市保荐业务管理办法》 《上海证券交易所科创板股票上市规则》等相关规定，南京证券股份有限公司（以 下简称"南京证券"或"保荐机构"）作为麦澜德的保荐机构，对麦澜德进行持续督导， 持续督导期为 2022 年 8 月 11 日至 2025 年 12 月 31 日。 南京证券股份有限公司 关于南京麦澜德医疗科技股份有限公司 2025 半年度持续督导跟踪报告 三、重大风险事项 2025 上半年度，南京证券对麦澜德的持续督导工作情况如下： | 序号 | 工作内容 | 持续督导情况 | | --- | --- | --- | | 1 | 建立健全并有效执行持续督导工作制度，并针对 具体的持续督导工作制定相应的工作计划 | 保荐机构已建立并有效执行了持 续督导制度，并制定了相应的工 | | | | 作计划 | | | 根据中国证监会相关规定，在持续督导工作开始 前，与上市公司或相关当事人签署持续督导协 | 保荐机构已与麦澜德签订保荐协 议，该协议明确了双方在持续督 | | 2 | | | ...

Core Viewpoint - The company, 麦澜德, reported a decline in net profit for the first half of 2025 despite a revenue increase, primarily due to the disposal of a subsidiary's bad assets [2][3][7]. Financial Performance - For the first half of 2025, the company achieved a revenue of 241 million yuan, representing a year-on-year growth of 5.62% [2][3][7]. - The net profit attributable to shareholders was 63.92 million yuan, showing a year-on-year decrease of 11.96% [2][3][7]. Business Segments - The reproductive rehabilitation and anti-aging product lines were the main contributors to revenue growth, with a 42.45% increase in income from these segments, amounting to 79.84 million yuan [4][7]. - The company focuses on non-invasive brain-computer interface technology, with existing technical accumulations in upper limb and hand robotics, non-invasive neural regulation, and multi-modal physiological signal collection [4]. Strategic Initiatives - The company is developing emotional interaction products based on a national key research and development project, with plans to conduct clinical pre-experiments within the year [4]. - The overseas business primarily focuses on pelvic floor products, targeting Southeast Asia, with efforts to enhance promotion through exhibitions and academic exchanges [5]. Corporate Governance - The company plans to hold a second extraordinary general meeting in 2025 to discuss three proposals, including the reappointment of an auditing firm and the cancellation of the supervisory board [6].

Core Points - The company is holding its second extraordinary general meeting of shareholders in 2025 to ensure the rights of all shareholders and the orderly conduct of the meeting [1][2] - The meeting will include voting on key proposals, including the reappointment of the accounting firm and amendments to the company's articles of association [5][6] Meeting Procedures - All attendees must comply with legal obligations to maintain the rights of shareholders and the order of the meeting [1] - Only authorized personnel, including shareholders, directors, supervisors, and legal representatives, are allowed to attend the meeting [2] - Shareholders must sign in 30 minutes before the meeting and present necessary identification documents [3] - Voting will be conducted both on-site and online, with each share carrying one vote [5][6] Agenda Items - Proposal One: Reappointment of Zhongxinghua Accounting Firm as the auditor for the fiscal year 2025, which has been approved by the board's audit committee [6] - Proposal Two: Cancellation of the supervisory board and amendments to the company's articles of association to enhance corporate governance [7][8]

2025 年 9 月 南京麦澜德医疗科技股份有限公司 2025 年第二次临时股东大会会议资料 目 录 | 年第二次临时股东大会会议须知 3 2025 | | --- | | 2025 年第二次临时股东大会会议议程 5 | | 议案一：关于续聘会计师事务所的议案 7 | | 议案二：关于取消监事会、修订《公司章程》并办理工商变更登记的议案 8 | | 议案三：关于修订及新增公司部分治理制度的议案 41 | 南京麦澜德医疗科技股份有限公司 2025 年第二次临时股东大会会议资料 证券代码：688273 证券简称：麦澜德 南京麦澜德医疗科技股份有限公司 2025 年第二次临时股东大会会议资料 南京麦澜德医疗科技股份有限公司 2025 年第二次临时股东大会会议资料 南京麦澜德医疗科技股份有限公司 2025 年第二次临时股东大会会议须知 为维护全体股东的合法权益，确保南京麦澜德医疗科技股份有限公司（以下 简称"公司"）股东大会顺利进行，根据《中华人民共和国证券法》《中华人民共和 国公司法》等法律法规及《南京麦澜德医疗科技股份有限公司章程》和公司《股 东大会议事规则》的相关规定，制定以下会议须知，请出席股东大会的全体人员 ...

Group 1: Aohua Endoscopy - The company anticipates a decline in overall gross margin due to an increase in overseas revenue share and changes in product structure by the first half of 2025 [1] - Sales, R&D, and management expenses have decreased year-on-year, primarily due to the reversal of share-based payment expenses [1] - The overseas business has shown growth due to progress in multi-country access and marketing layout, enhancing global brand influence [1] - The domestic market strategy focuses on both tertiary hospitals and county-level markets, with multiple academic events and grassroots training conducted [1] - Demand for flexible endoscopes is driven by the popularization of early cancer screening, leading to sustained growth in new equipment, replacements, and endoscope body replacements [1] - The company is expanding its product lines beyond gastroenterology to include respiratory, urology, ENT, and hepatobiliary surgery [1] Group 2: Xingqi Eye Medicine - The company is developing an innovative drug, SQ-22031 eye drops, which is a Class 1 biopharmaceutical for treating neurotrophic keratitis and dry eye syndrome [2] - The Phase I clinical trial for this product has successfully obtained a clinical research report [2] Group 3: Mylande - The company achieved revenue of 241 million yuan, a year-on-year increase of 5.62%, while net profit attributable to shareholders was 63.92 million yuan, a decrease of 11.96%, mainly due to the disposal of non-performing assets [3] - Revenue from reproductive rehabilitation and anti-aging business reached 79.84 million yuan, a year-on-year increase of 42.45% [3] - The decline in gross margin is attributed to adjustments in new product promotion strategies and an increase in orders from major clients [3] - The company is focusing on non-invasive brain-machine interfaces and has accumulated technology in multi-modal physiological signal acquisition [3] - Emotional interaction products have reached the prototype stage, with plans to conduct clinical pre-experiments within the year [3] - Multi-center clinical research is aiding product entry into hospitals, and the overseas business is primarily targeting the Southeast Asian market [3] - The company aims to establish a model in Jiangsu and Zhejiang provinces for its health management center this year [3] - The company adheres to a dual-driven strategy of "one end more serious, one end more consumer" [3] Group 4: Company Overview - Shanghai Chengrui Investment Management Co., Ltd. was established in May 2010 with a registered capital of 110 million yuan [4] - The company became a private equity fund manager in April 2014 and has been recognized for its stable development and diverse client base, including banks, private banks, securities firms, insurance companies, trusts, and various institutional investors [4] - The investment research team consists of 33 highly qualified professionals with strong educational backgrounds and extensive investment experience [4] - The company has received numerous awards and recognitions, including being listed among the top private equity firms in China and winning various industry awards [4]

Core Viewpoint - The company, 麦澜德 (688273), reported a revenue increase of 5.62% year-on-year for the first half of 2025, but a decline in net profit by 11.96% due to the disposal of a subsidiary's bad assets [2][11]. Financial Performance - The company achieved a revenue of 241 million yuan in the first half of 2025, with a net profit of 63.92 million yuan [2][11]. - The gross profit margin was reported at 70.9%, with a decline attributed to adjustments in sales strategies during the new product promotion phase and an increase in orders from major clients [3][11]. - In Q2 2025, the company recorded a revenue of 123 million yuan, a decrease of 0.89% year-on-year, and a net profit of 24.06 million yuan, down 33.76% year-on-year [11]. Business Segments - The reproductive rehabilitation and anti-aging product lines generated revenue of 79.84 million yuan, reflecting a growth of 42.45% year-on-year [4]. - The company focuses on a dual strategy of serious medical and consumer medical services, leveraging clinical data to support consumer medical offerings [11]. Technological Development - The company is developing non-invasive brain-machine interface technologies, with ongoing projects in upper limb and hand movement robotics, non-invasive neural regulation, and multi-modal physiological signal collection [5]. - A key project, "Multi-modal Emotional Interactive Diagnostic Equipment Development," is expected to conclude in 2027, aiming to identify early risks of diseases like Alzheimer's through multi-modal signal recognition [6]. Market Expansion - The company is actively promoting its overseas business, primarily focusing on pelvic floor products in Southeast Asia, despite facing challenges [8]. - The 康美 center initiative aims to create a new model of health management centers in collaboration with hospitals, with plans to establish pilot centers in regions like Jiangsu and Zhejiang [9]. Clinical Research - Ongoing multi-center clinical studies are enhancing the medical evidence for the pelvic floor magnetic stimulation device in urology, facilitating faster hospital access for the product [7].

Core Insights - 麦澜德's stock price decreased by 1.51% on August 28, with a trading volume of 151 million yuan [1] - The company reported a financing buy-in of 14.69 million yuan and a financing repayment of 22.95 million yuan on the same day, resulting in a net financing outflow of 8.26 million yuan [1] - As of August 28, the total margin balance for 麦澜德 was 159 million yuan, representing 10.19% of its circulating market value, which is above the 90th percentile level over the past year [1] Financing and Margin Data - On August 28, 麦澜德 had a financing buy-in of 14.69 million yuan, with a current financing balance of 159 million yuan [1] - The margin trading data indicates that 麦澜德 had no short selling activity on that day, with a short selling balance of 0 [1] Company Overview - 南京麦澜德医疗科技股份有限公司 was established on January 16, 2013, and went public on August 11, 2022 [1] - The company's main business involves the research, development, production, sales, and service of products related to pelvic floor and postpartum rehabilitation [1] - The revenue composition of 麦澜德 includes pelvic floor rehabilitation (39.39%), consumables and accessories (28.12%), reproductive rehabilitation (25.81%), sports rehabilitation (4.25%), and other products (2.42%) [1] Financial Performance - For the first half of 2025, 麦澜德 reported a revenue of 241 million yuan, a year-on-year increase of 5.62%, while the net profit attributable to shareholders decreased by 11.96% to 63.92 million yuan [2] - Since its A-share listing, 麦澜德 has distributed a total of 268 million yuan in dividends [2] Shareholder Structure - As of June 30, 2025, 麦澜德 had 5,461 shareholders, an increase of 10.84% from the previous period [2] - The average number of circulating shares per shareholder was 6,743, a decrease of 9.78% [2] - Notable changes in institutional holdings include 华夏稳增混合 increasing its stake by 14.17% to 1.25 million shares, while several funds exited the top ten shareholders list [2]

据证券之星公开数据整理，近期麦澜德(688273)发布2025年中报。根据财报显示，麦澜德增收不增利。 截至本报告期末，公司营业总收入2.41亿元，同比上升5.62%，归母净利润6392.01万元，同比下降 11.96%。按单季度数据看，第二季度营业总收入1.23亿元，同比下降0.89%，第二季度归母净利润 2406.04万元，同比下降33.76%。 本次财报公布的各项数据指标表现一般。其中，毛利率70.9%，同比减2.87%，净利率26.7%，同比减 19.66%，销售费用、管理费用、财务费用总计7348.24万元，三费占营收比30.46%，同比增9.33%，每股 净资产13.36元，同比减0.71%，每股经营性现金流0.29元，同比减36.68%，每股收益0.65元，同比减 10.9% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.28ZZ | 2.41亿 | 5.62% | | 归母净利润(元) | 7260.67万 | 6392.01万 | -11.96% | | 扣非净利润(元) | 6605.9 ...

Financial Performance - The company reported a total revenue of 241 million yuan for the first half of 2025, an increase of 5.62% year-on-year [1] - The net profit attributable to shareholders was 63.92 million yuan, a decrease of 11.96% compared to the previous year [1] - The gross margin was 70.9%, down 2.87% year-on-year, while the net margin decreased by 19.66% to 26.7% [1] - Total expenses (selling, administrative, and financial) amounted to 73.48 million yuan, accounting for 30.46% of revenue, an increase of 9.33% year-on-year [1] Key Financial Ratios - The company's return on invested capital (ROIC) was 7.34% last year, indicating average capital returns [3] - The historical median ROIC since the company went public is 37.57%, with the lowest ROIC recorded in 2023 at 5.65% [3] - The company has a healthy cash asset position, indicating good debt repayment capability [3] Market Position and Fund Holdings - The company is primarily driven by marketing efforts, which require further analysis to understand the underlying dynamics [3] - Notably, a prominent fund manager, Zhuan Jiangwei from CITIC Jiantou Fund, has increased holdings in the company, ranking among the top fifty fund managers in 2024 [3] - The largest fund holding the company is Huaxia Stable Growth Mixed Fund, with a scale of 1.146 billion yuan and a recent net value of 3.246, reflecting a 92.71% increase over the past year [4] Business Insights - The company's pelvic floor rehabilitation business is primarily composed of an in-hospital market, which accounts for over 85% of its customer base [5] - The out-of-hospital market has seen a decline in business share due to fertility rates, but the overall business volume has stabilized in recent years [5]