经济观察网微电生理于2026年2月12日发布2025年年度业绩快报，显示公司2025年实现营业总收入 46,453.20万元，同比增长12.43%；归属于母公司所有者的净利润5,115.17万元，同比下降1.76%。扣除 非经常性损益的净利润2,365.80万元，较2024年大幅增长。业绩增长主要得益于海外收入同比增幅超 40%，占总收入比例已超30%，国际化战略推进显著；国内业务中，压力监测射频消融导管使用量同比 增长超70%，推动高端术式升级。公司提示数据为初步核算，最终以年报为准。 近期事件 近期股价震荡整理，截至2026年2月12日收盘报23.50元，近7日(2月5日至12日)区间涨跌幅0.95%，振幅 4.64%。2月11日因业绩快报披露当日下跌1.43%，成交额5887.93万元；2月12日资金面显示主力净流出 510.58万元，散户资金活跃。所属医疗器械板块同期下跌0.83%，表现弱于大盘。 以上内容基于公开资料整理，不构成投资建议。 限售股解禁：2026年2月11日公告，约3.46亿股限售股将于2026年3月2日上市流通，占公司总股本 73.47%，可能对股价形成流动性压力。 股票近期走势 产 ...

Financial Performance - In 2025, the company achieved total revenue of 464.53 million yuan, representing a year-on-year growth of 12.43% [2] - The net profit attributable to the parent company was 51.15 million yuan, a decrease of 1.76% compared to the previous year [2] - The net profit attributable to the parent company after deducting non-recurring gains and losses was 23.66 million yuan, significantly increasing from 5.08 million yuan in 2024 [2] - By the end of 2025, total assets reached 1,993.07 million yuan, an increase of 5.25% from the beginning of the reporting period [2] - The equity attributable to the parent company was 1,802.17 million yuan, up 3.47% from the beginning of the reporting period [2] Business Development - The company has deepened its overseas expansion, with overseas revenue growing by over 40%, accounting for more than 30% of total revenue, validating the effectiveness of its international strategy [3] - The high-end pressure monitoring radiofrequency ablation catheter has been commercialized in over 20 countries, and the cryoablation system has received EU certification, with successful applications in Germany, Turkey, and Greece [3] - The company actively participated in major international academic conferences, showcasing its "electric fire ice" solution, which has garnered significant industry attention and recognition [3] Domestic Market Focus - The company continues to focus on high-end surgical breakthroughs and product innovation, with a steady increase in three-dimensional surgical volumes [4] - The usage of pressure monitoring radiofrequency ablation catheters increased by over 70% year-on-year, accelerating the domestic replacement process of high-end electrophysiology devices [4] - In November 2025, the company launched the PulseMagic? TrueForce? disposable pressure monitoring cardiac pulsed electric field ablation catheter, becoming the first in China to feature saline infusion capabilities [4] Profitability Factors - The net profit attributable to the parent company increased by 365.73% year-on-year, primarily due to revenue growth and cost reduction efforts [5]

Group 1: Major Announcements - Unisplendour plans to raise no more than 5.57 billion yuan through a private placement to acquire a 6.98% stake in New H3C and for other projects [2] - Zhongwei Semiconductor intends to establish an IPM production line project in Ziyang, Sichuan, using 1.21 billion yuan of leftover IPO funds [2] - Kaiying Network has signed a settlement agreement with Legend IP, which is expected to positively impact the company's profit by approximately 200 million yuan [2] Group 2: Project Developments - Blue Ocean Huaten plans to invest 8 million yuan in Wanren Technology to support its daily operations and AI project development [4] - Yuedian Power A has successfully put into operation the expansion project of the Huizhou Power Plant, which includes two 1000MW units [7] - Longmag Technology intends to raise up to 760 million yuan for its second phase project in Vietnam and chip inductor manufacturing [8] Group 3: Financial Performance - Top Group expects a net profit of 2.6 billion to 2.9 billion yuan for 2025, a decrease of 3.35% to 13.35% year-on-year due to rising raw material costs and increased market competition [20] - Jingchen Technology reported a net profit of 871 million yuan for 2025, a 6% increase year-on-year, with record high sales of over 174 million chips [21] - Guodian Xintong's net profit for 2025 is projected at 678 million yuan, a decline of 16.91% year-on-year, primarily due to increased credit impairment losses and tax expenses [22] Group 4: Shareholder Actions - Jieshun Technology's actual controller plans to reduce holdings by up to 2.8% of the company's shares [27] - Lihexing's controlling shareholder and concerted actors plan to collectively reduce their holdings by up to 1% [27] - Kory Technology's shareholders plan to reduce their holdings by a total of up to 3.13% [29] Group 5: Stock Buybacks - Quzhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan, with a maximum price of 6.48 yuan per share [30]

Core Viewpoint - Microelectrophysiology (688351) reported a revenue of 465 million yuan for the year 2025, reflecting a year-on-year growth of 12.43%, while net profit attributable to shareholders decreased by 1.76% to 51.15 million yuan [1] Group 1: Financial Performance - The company achieved an operating income of 465 million yuan in 2025, which is a 12.43% increase compared to the previous year [1] - The net profit attributable to shareholders for 2025 was 51.15 million yuan, showing a decline of 1.76% year-on-year [1] Group 2: International Strategy - The company's overseas revenue grew by over 40% in 2025, indicating successful implementation of its internationalization strategy [1] - International revenue now accounts for more than 30% of total revenue, highlighting the company's competitive advantages in technology, products, and services [1]

Group 1 - The core viewpoint of the article is that Microelectrophysiology announced its projected financial performance for 2025, indicating a positive growth trajectory in revenue and net profit [2] - The company expects to achieve an operating revenue of 464.53 million yuan in 2025, representing a year-on-year growth of 12.43% [2] - The net profit attributable to the parent company is projected to be 51.15 million yuan [2]

Group 1 - Unisplendour Corporation has decided to terminate its plan to issue H-shares and list on the Hong Kong Stock Exchange due to strategic development considerations [2] - Yuandong Biotech is participating in a follow-up procurement for 13 products, with expected sales revenue of approximately 651 million yuan in 2024, accounting for 48.25% of total revenue [3] - Blue Lithium has terminated its participation in the GreenMei Indonesia project due to strategic adjustments by GreenMei, with no significant impact on its operations [4] Group 2 - Jinhaitong plans to invest up to 400 million yuan in the construction of a semiconductor equipment manufacturing center in Shanghai, covering an area of 55,000 square meters [5] - Kaiying Network's subsidiary has signed a settlement agreement with Legend IP, which is expected to positively impact profits by approximately 200 million yuan [6] - Newray plans to acquire 70% of PCB tool company Huilian Electronics for no more than 700 million yuan, enhancing its market position in the PCB tool sector [7] Group 3 - Longbai Group intends to acquire a 5.46% stake in Yunnan Guotai for 234 million yuan [8] - Dawi Technology's Zhangbei data center project is set to be completed by October 2025, primarily providing customized standard data center environments [9] Group 4 - Guobang Electronics reported a net profit of 508 million yuan for 2025, a year-on-year increase of 4.72%, despite a revenue decline of 7.92% [11] - Daotong Technology achieved a net profit of 935 million yuan in 2025, reflecting a significant year-on-year growth of 45.89% [12] - Jingchen Co. reported a net profit of 871 million yuan for 2025, with a growth of 6% year-on-year [13] Group 5 - Qizhou Dongfeng plans to repurchase shares worth between 50 million and 100 million yuan to implement an employee stock ownership plan [17] - Keri Technology's shareholders plan to reduce their holdings by a total of up to 3.13% of the company's shares [19] Group 6 - Roman Co. signed a 260 million yuan contract for a wind power project, with the company’s share of the contract amounting to approximately 190 million yuan [21] - Zhongke Haixun is expected to win projects totaling approximately 288 million yuan [22] - Shan Jian Co. won four construction projects with a total value of 4.834 billion yuan [23]

Core Viewpoint - The company reported a total revenue of 465 million yuan for the year 2025, marking a year-on-year increase of 12.43%, while the net profit attributable to the parent company decreased by 1.76% to 51.15 million yuan [1] Group 1: International Expansion - The company has deepened its overseas layout, achieving significant results in business development, with overseas revenue growing by over 40% year-on-year, now accounting for more than 30% of total revenue [1] - The high-end pressure monitoring radiofrequency ablation catheter has been commercialized in over 20 countries, and the cryoablation system has successfully obtained EU certification, with commercial applications in Germany, Turkey, and Greece [1] - The company actively participated in major international academic conferences, showcasing its "electric fire ice" comprehensive solution, which has gained widespread attention and recognition in the industry [1] Group 2: Domestic Business and Product Innovation - The company continues to focus on breakthroughs in high-end procedures and product innovation, with the usage of pressure monitoring radiofrequency ablation catheters increasing by over 70% year-on-year [2] - The company remains a leader in industry technology, with the approval of the PulseMagic TrueForce disposable pressure monitoring cardiac pulsed electric field ablation catheter, which is the first in China to feature a saline infusion function [2] - The collaboration with the affiliated company, Shangyang Medical, on the PulseMagic Spiral catheter is expected to create a complete product matrix in the pulsed ablation field, playing a key role in the iteration of cardiac electrophysiology technology and domestic replacement [2]

Core Viewpoint - The company reported a total revenue of 465 million yuan for the fiscal year 2025, marking a year-on-year increase of 12.43%, while the net profit attributable to the parent company decreased by 1.76% to 51.15 million yuan [1] Group 1: International Expansion - The company has deepened its overseas layout, achieving significant results with overseas revenue growing by over 40% year-on-year, now accounting for more than 30% of total revenue, validating the effectiveness of its international strategy [1] - The high-end pressure monitoring radiofrequency ablation catheter has been commercialized in over 20 countries, and the cryoablation system has successfully obtained EU certification, with commercial applications in Germany, Turkey, Greece, and other countries, receiving positive clinical feedback [1] - The company actively participated in major international academic conferences, showcasing its "electric fire ice" comprehensive solution through high-quality live surgeries and discussions, gaining widespread attention and recognition in the industry [1] Group 2: Domestic Business and Product Innovation - The company continues to focus on breakthroughs in high-end procedures and product innovation, with the volume of three-dimensional surgeries steadily increasing, and the usage of pressure monitoring radiofrequency ablation catheters rising by over 70% year-on-year [2] - The company remains a leader in industry technology, with its self-developed PulseMagic™ TrueForce® disposable pressure monitoring cardiac pulsed electric field ablation catheter approved for market launch in November 2025, becoming the first in China equipped with saline infusion functionality [2] - The collaboration with the affiliated company, Shangyang Medical, which previously received approval for the PulseMagic™ Spiral disposable magnetic electric positioning cardiac pulsed electric field ablation catheter, forms a strong synergy, establishing a complete product matrix in the field of pulsed ablation [2]

Group 1 - The core viewpoint of the article highlights the financial performance of Microelectronic Physiology, which reported an operating income of approximately 465 million yuan for the year 2025, representing a year-on-year increase of 12.43% [1] - The net profit attributable to shareholders of the listed company was 51.15 million yuan, showing a slight decrease of 1.76% compared to the previous year [1] - The basic earnings per share were reported at 0.1087 yuan, which is a decrease of 1.72% year-on-year [1] Group 2 - The article also mentions a significant development in the video generation technology sector, where a new Chinese video model is capable of producing 15-second videos for commercial delivery using just a few prompt words, leading to a surge in related film and television stocks [1]

证券代码：688351 证券简称：微电生理 公告编号：2026-005 上海微创电生理医疗科技股份有限公司 2025 年年度业绩快报 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。 本公告所载上海微创电生理医疗科技股份有限公司（以下简称"公司"）2025 年度主要财务数据为初步核算数据，未经会计师事务所审计，具体数据以公司 2025 年年度的定期报告为准，提请投资者注意投资风险。 | 项目 | 本报告期 | 上年同期 | 增减变动幅度（％） | | --- | --- | --- | --- | | 营业总收入 | 46,453.20 | 41,316.68 | 12.43 | | 营业利润 | 5,355.29 | 5,452.50 | -1.78 | | 利润总额 | 5,141.23 | 5,212.59 | -1.37 | | 归属于母公司所有者的净利润 | 5,115.17 | 5,207.04 | -1.76 | | 归属于母公司所有者的扣除非 经常性损益的净利润 | 2,365.80 | 507.98 | 3 ...