| 证券代码：688301 | 证券简称：奕瑞科技 | 公告编号：2025-098 | | --- | --- | --- | | 转债代码：118025 | 转债简称：奕瑞转债 | | 奕瑞电子科技集团股份有限公司 关于股东减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 股东持有的基本情况 本次减持计划实施前，奕瑞电子科技集团股份有限公司（以下简称"公司" "奕瑞科技"）股东天津红杉聚业股权投资合伙企业（有限合伙）（以下简称"天 津红杉"）、北京红杉信远股权投资中心（有限合伙）（以下简称"北京红杉"）分 别持有公司股份 11,785,883 股和 5,547,286 股，分别占本次减持前公司总股本的 5.89%和 2.77%。上述股份均为公司 IPO 前及上市后权益分派资本公积转增股本 取得的股份，该部分股份已于 2021 年 9 月 22 日、2023 年 4 月 24 日、2024 年 6 月 17 日、2025 年 6 月 19 日上市流通。 减持计划的实施结果情况 2 ...

Core Viewpoint - The Medical Health Index (980016) closed at 6572.66 points, down 0.65%, with a trading volume of 23.397 billion yuan and a turnover rate of 0.87% on November 14 [1] Group 1: Index Performance - Among the index constituents, 16 stocks rose while 33 stocks fell, with Ganli Pharmaceutical leading the gainers at a 2.0% increase and Yirui Technology leading the decliners at a 3.74% decrease [1] - The top ten constituents of the Medical Health Index include major companies such as WuXi AppTec, Hengrui Medicine, and Mindray Medical, with respective weights of 13.66%, 11.00%, and 7.57% [1] Group 2: Market Capitalization and Stock Prices - The total market capitalization of the top ten constituents ranges from 553.09 billion yuan for Kelun Pharmaceutical to 4603.55 billion yuan for Rihai Shenzhou, with stock prices varying from 12.25 yuan to 298.80 yuan [1] - The performance of the top ten stocks shows a mix of slight declines, with WuXi AppTec down 1.49% and Hengrui Medicine down 1.04% [1] Group 3: Capital Flow - The Medical Health Index constituents experienced a net outflow of 472 million yuan from major funds, while retail investors saw a net inflow of 388 million yuan [1] - Detailed capital flow data indicates that Ganli Pharmaceutical had a net inflow of 62.98 million yuan from major funds, despite a net outflow from retail investors [2]

| 证券代码：688301 | 证券简称：奕瑞科技 公告编号：2025-097 | | --- | --- | | 转债代码：118025 | 转债简称：奕瑞转债 | 奕瑞电子科技集团股份有限公司 关于持股 5%以上股东权益变动触及 1%刻度的 提示性公告 持股 5%以上股东天津红杉聚业股权投资合伙企业（有限合伙）及其一致行 动人北京红杉信远股权投资中心（有限合伙）保证向本公司提供的信息真实、准 确、完整，没有虚假记载、误导性陈述或重大遗漏。 本公司董事会及全体董事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： | 权益变动方向 | 比例增加□ | | 比例减少 | ☑ | | --- | --- | --- | --- | --- | | 权益变动前合计比例 | 7.66% | | | | | 权益变动后合计比例 | 6.78% | | | | | 本次变动是否违反已作出的承诺、意向、 | 是□ | 否☑ | | | | 计划 | | | | | | 是否触发强制要约收购义务 | 是□ | 否☑ | | | | | □ | 控股股东/实控人 | | | --- | --- | --- | -- ...

Core Points - The company Yirui Technology (688301.SH) announced a share reduction by Tianjin Sequoia and Beijing Sequoia through block trading, decreasing their total shareholding from 15,330,985 shares to 14,330,985 shares [1] - The shareholding percentage of the information disclosure obligor decreased from 7.66% to 6.78% due to changes in the company's total share capital resulting from the vesting of restricted stock, completion of registration for shares issued to specific objects, and convertible bonds conversion [1] - The equity change triggered a passive adjustment in shareholding percentage, reaching a 1% threshold [1]

Core Points - The company Yirui Technology (688301.SH) announced a share reduction by Tianjin Sequoia and Beijing Sequoia through block trading, decreasing their total shareholding from 15,330,985 shares to 14,330,985 shares [1] - The reduction in shareholding percentage for the information disclosure obligor decreased from 7.66% to 6.78% due to changes in total share capital resulting from the vesting of restricted stock, completion of share registration for specific issuance, and convertible bond conversion [1] - The equity change triggered a passive adjustment in shareholding ratio, reaching a threshold of 1% [1]

Summary of Key Points Core Viewpoint - Yirui Technology conducted two block trades on November 11, totaling 1 million shares and amounting to 108 million yuan, with a transaction price of 107.70 yuan, reflecting a 2% discount compared to the closing price of the day [2] Group 1: Block Trade Details - The total transaction volume for the two block trades was 1 million shares, with a total transaction value of 108 million yuan [2] - Both transactions had a price of 107.70 yuan, which is a 2% discount relative to the closing price of the day [2] - Institutional proprietary seats were involved in both the buying and selling sides of the transactions, with a net purchase amounting to 108 million yuan [2] Group 2: Recent Trading Activity - Over the past three months, Yirui Technology has recorded five block trades, with a cumulative transaction value of 341 million yuan [2] - The closing price of Yirui Technology on the day of the report was 109.90 yuan, reflecting a 2.65% increase, with a daily turnover rate of 1.10% and a total transaction amount of 240 million yuan [2] - The stock experienced a net outflow of 13.63 million yuan in main funds throughout the day, while over the past five days, the stock has risen by 3.58% with a total net outflow of 1.02 million yuan [2] Group 3: Margin Financing Data - The latest margin financing balance for Yirui Technology is 659 million yuan, which has decreased by 14.89 million yuan over the past five days, representing a decline of 2.21% [2]

Core Viewpoint - The company has recently completed a private placement project, which will enhance its production capacity for X-ray solutions and tubes, positioning it to become a leading one-stop supplier of core components and solutions for X-ray technology [1] Group 1 - The company announced the completion of a private placement project on November 5 [1] - The funding from the private placement will help expand the production capacity for X-ray solutions and tubes [1] - The company aims to accelerate its growth towards becoming a world-leading supplier in the X-ray core components and solutions market [1]

Core Insights - The medical device sector experienced a rise of 1.13% on October 31, with Caina Co., Ltd. leading the gains [1] - The Shanghai Composite Index closed at 3954.79, down 0.81%, while the Shenzhen Component Index closed at 13378.21, down 1.14% [1] Medical Device Sector Performance - Caina Co., Ltd. (301122) saw a closing price of 30.38, with a significant increase of 19.98% and a trading volume of 91,000 shares, amounting to a transaction value of 259 million [1] - Spring Medical (688236) closed at 28.88, up 14.47%, with a trading volume of 84,200 shares and a transaction value of 235 million [1] - ZhenDe Medical (603301) closed at 95.00, increasing by 9.07% with a trading volume of 211,900 shares, resulting in a transaction value of 1.951 billion [1] - Other notable performers included TuoJing Life (300642) with an 8.81% increase, and Rejing Bio (688068) with an 8.70% increase [1] Capital Flow Analysis - The medical device sector saw a net inflow of 475 million from institutional investors, while retail investors experienced a net outflow of 108 million [2][3] - Major stocks like Mindray Medical (300760) had a net inflow of 262 million from institutional investors, but a net outflow of 1.27 billion from retail investors [3] - Other stocks such as Furuishi (300049) and Lepu Medical (300003) also showed significant net inflows from institutional investors, indicating strong institutional interest [3]

Financial Performance - The company's operating revenue for the third quarter reached ¥482,434,143.61, representing a year-on-year increase of 46.18%[3] - Total profit for the quarter was ¥142,976,213.33, reflecting a significant increase of 70.81% compared to the same period last year[3] - Net profit attributable to shareholders was ¥135,984,923.22, up 64.43% year-on-year[3] - The net profit after deducting non-recurring gains and losses was ¥111,320,274.88, which is a substantial increase of 121.53% compared to the previous year[3] - Basic earnings per share for the quarter were ¥0.68, an increase of 63.90% year-on-year[4] - Operating profit for the first three quarters of 2025 was ¥506,397,403.73, compared to ¥416,117,101.45 in 2024, marking a growth of 21.7%[19] - Net profit for the first three quarters of 2025 was ¥456,733,352.35, an increase of 20.7% from ¥378,558,987.37 in the previous year[19] - Basic earnings per share (EPS) increased to 2.35 CNY from 1.95 CNY year-over-year, representing a growth of approximately 20.51%[21] - Diluted EPS rose to 2.31 CNY from 1.91 CNY, reflecting an increase of about 20.95%[21] Cash Flow - The net cash flow from operating activities was ¥281,011,838.27, showing a remarkable increase of 2,110.80% compared to the same period last year[3] - Operating cash flow for the first three quarters of 2025 reached 2,949,653,370.22 CNY, up from 1,630,736,658.59 CNY in the same period of 2024, marking a growth of approximately 80.83%[23] - Net cash flow from operating activities was 1,098,744,614.76 CNY, compared to 198,474,543.58 CNY in the previous year, indicating a significant increase of about 438.36%[23] - Cash inflow from investment activities totaled 149,986,725.96 CNY, a substantial increase from 4,137,674.00 CNY year-over-year[24] - Net cash flow from investment activities was -913,615,429.87 CNY, an improvement from -1,061,774,088.05 CNY in the previous year[24] - Cash inflow from financing activities amounted to 1,485,822,814.96 CNY, compared to 1,292,976,070.45 CNY in the same period last year, reflecting an increase of approximately 14.92%[24] - Net cash flow from financing activities was 1,139,296,582.66 CNY, up from 592,383,817.10 CNY, indicating a growth of about 92.36%[24] - The ending cash and cash equivalents balance reached 3,400,289,425.75 CNY, significantly higher than 1,433,081,057.05 CNY at the end of the previous year[24] Assets and Liabilities - Total assets at the end of the reporting period amounted to ¥11,328,755,969.44, representing a growth of 24.72% from the end of the previous year[4] - The company's total assets increased to ¥11,328,755,969.44, up from ¥9,083,006,463.92, representing a growth of 24.7%[16] - Total liabilities rose to ¥5,257,694,314.52, compared to ¥4,436,602,437.53, indicating an increase of 18.5%[16] - Shareholders' equity increased to ¥6,071,061,654.92 from ¥4,646,404,026.39, reflecting a growth of 30.6%[16] - The equity attributable to shareholders reached ¥6,076,819,900.38, marking a 31.00% increase from the end of the previous year[4] Research and Development - The company's R&D investment totaled ¥73,693,580.02, which is a decrease of 22.06% year-on-year, accounting for 15.28% of operating revenue[4] - Research and development expenses for the first three quarters of 2025 were ¥227,930,143.48, down from ¥247,679,395.02, a decrease of 7.9%[18] Shareholder Information - Total number of common shareholders at the end of the reporting period is 8,011[11] - The largest shareholder, Shanghai Yiyuan He Rui Investment Consulting Co., Ltd., holds 32,696,549 shares, accounting for 16.33% of total shares[12] - The total number of shares held by the top 10 unrestricted shareholders is 78,000,000 shares[12] - Hainan Heyi Investment Co., Ltd. holds 11,721,318 shares, representing 5.85% of total shares, with 2,100,000 shares pledged[11] - The company has no significant changes in the shareholding structure compared to the previous period[13] Inventory and Current Assets - Total current assets amount to RMB 5.22 billion, up from RMB 3.95 billion in the previous year[14] - The total inventory as of September 30, 2025, is approximately RMB 837.92 million, compared to RMB 798.28 million in the previous year[14] Other Information - The company reported cash and cash equivalents of approximately RMB 3.41 billion as of September 30, 2025, an increase from RMB 2.10 billion at the end of 2024[14] - The company has a long-term equity investment valued at RMB 98.34 million, an increase from RMB 72.31 million[14] - The company did not report any net profit from the merged entity prior to the merger, consistent with the previous period[21] - The company has not disclosed any new product developments or market expansion strategies in the current reporting period[13]

Investment Rating - The report maintains a "Recommended" rating for the company, with a current price of 111.68 yuan [5]. Core Views - The company achieved a cumulative operating revenue of 1.55 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 14.2%. The net profit attributable to the parent company was 470 million yuan, up 20.6% year-on-year [1]. - In Q3 2025, the company reported an operating revenue of 480 million yuan, a significant year-on-year increase of 46.2%, and a net profit of 140 million yuan, up 64.4% year-on-year [1]. - The increase in net profit is attributed to the growth in solution services, core component business, and detector business compared to the same period last year [1][2]. Summary by Sections Financial Performance - The gross profit margin for Q3 2025 was 49.8%, a decrease of 3.8 percentage points year-on-year, while the net profit margin increased by 64.4% to 1.4% [1]. - The company’s expense ratio decreased by 2.7 percentage points year-on-year, with sales, management, R&D, and financial expense ratios at 5.1%, 4.8%, 15.3%, and 0.2%, respectively [1]. Market Trends - The medical device bidding market in China showed robust growth, with overall market sizes in the first three quarters of 2025 increasing by 67.5%, 61.7%, and 29.8% year-on-year, respectively [2]. - The public bidding market for medical imaging equipment grew by 55.02% year-on-year in Q3 2025, indicating strong demand [2]. Business Development - The company has made significant progress in the development of various medical tube products, including micro-focus tubes and dental tubes, with several products entering the commercialization phase [2]. - The solution business is expected to continue driving growth, benefiting from the recovery in downstream demand, with projected revenues of 2.16 billion, 2.61 billion, and 3.20 billion yuan for 2025, 2026, and 2027, respectively [3][4].