无锡祥生医疗科技股份有限公司 2025 年第一次临时股东大会会议资料 证券代码：688358 证券简称：祥生医疗 无锡祥生医疗科技股份有限公司 2025 年第一次临时股东大会 会议资料 二〇二五年九月 1 无锡祥生医疗科技股份有限公司 2025 年第一次临时股东大会会议资料 无锡祥生医疗科技股份有限公司 2025 年第一次临时股东大会会议须知 为了维护全体股东的合法权益，确保股东大会的正常秩序和议事效率，保 证大会的顺利进行，根据《中华人民共和国公司法》《中华人民共和国证券法》 《上市公司股东大会规则》以及《无锡祥生医疗科技股份有限公司章程》《无 锡祥生医疗科技股份有限公股东大会议事规则》等相关规定，无锡祥生医疗科 技股份有限公司（以下简称"公司"）特制定本次股东大会会议须知： 一、为确认出席大会的股东或其代理人或其他出席者的出席资格，会议工 作人员将对出席会议者的身份进行必要的核对工作，请被核对者给予配合。 二、为保证本次大会的严肃性和正常秩序，切实维护股东的合法权益，请 出席大会的股东或其代理人或其他出席者准时到达会场签到确认参会资格。会 议开始后，会议登记应当终止，由会议主持人宣布现场出席会议的股东和代 ...

Core Points - The company, Wuxi Chison Medical Technology Co., Ltd., will hold a collective performance briefing for the medical device industry on September 17, 2025, from 15:00 to 17:00 [1][2] - The briefing aims to provide investors with a comprehensive understanding of the company's operating results and financial status for the first half of 2025 [1] - The event will be conducted in an interactive text format via the Shanghai Stock Exchange's online platform [2][3] Meeting Details - The meeting will take place at the Shanghai Stock Exchange Roadshow Center [2][3] - Key participants include the Chairwoman and General Manager, Mo Ruoli, along with other board members and the investor relations officer [2] - Investors can participate online and submit questions from September 10 to September 16, 2025, prior to the meeting [2][3] Contact Information - The company’s securities affairs department can be contacted at 0510-85271380 or via email at info@chison.com.cn for further inquiries [3]

证券代码：688358 证券简称：祥生医疗 公告编号：2025-027 无锡祥生医疗科技股份有限公司 关于召开 2025 年半年度科创板医疗器械及医疗设备 行业集体业绩说明会的公告 本公司董事会及全体董事保证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。 （二） 会议召开地点：上证路演中心（网址：http://roadshow.sseinfo.com） （三） 会议召开方式：上证路演中心网络文字互动 重要内容提示 无锡祥生医疗科技股份有限公司（以下简称"公司"）已于2025年8月29日在 上海证券交易所网站（www.sse.com.cn）披露公司《2025年半年度报告》，为便 于广大投资者更全面深入地了解公司2025年半年度经营成果、财务状况，公司计 划于2025年9月17日（星期三）15:00-17:00参加由上海证券交易所主办的2025年 半年度科创板医疗器械及医疗设备行业集体业绩说明会，就投资者关心的问题进 行交流。 一、说明会类型 本次说明会以网络文字互动方式召开，公司将针对 2025 年半年度经营成果 及财务指标的具体情况与投资者进行互动交 ...

Investment Rating - The investment rating for Xiangsheng Medical (688358) is not explicitly stated in the provided documents, but the report indicates a positive outlook on revenue growth and profitability potential, suggesting a favorable investment perspective [1][2]. Core Viewpoints - The company reported a revenue of 236 million yuan for the first half of 2025, reflecting a year-over-year decline of 4.61%, primarily due to global geopolitical conflicts, currency fluctuations, and trade barriers affecting traditional export markets. However, revenue showed a positive growth of 1.37% in Q2 2025 compared to Q1 2025 [2]. - The gross profit margin remained stable at 60.65% in H1 2025, with expectations of improved profitability as the revenue share from high-end intelligent ultrasound products increases [2]. - The company is focusing on AI and robotics to enhance growth opportunities, with significant R&D investment of 37.61 million yuan, representing 15.93% of revenue. The launch of the SonoAI solution aims to upgrade ultrasound diagnostics across various clinical applications [2]. - Revenue projections for 2025-2027 are estimated at 534 million, 626 million, and 728 million yuan, with corresponding net profits of 165 million, 192 million, and 222 million yuan, indicating growth rates of 13.9%, 17.3%, and 16.3% respectively [2][3]. Financial Summary - For 2025, the expected total revenue is 534 million yuan, with a year-over-year growth rate of 13.9%. The projected net profit is 165 million yuan, reflecting a growth rate of 17.6% [3]. - The gross margin is expected to be around 58.9% in 2025, with a gradual increase to 59.4% by 2027 [3]. - The earnings per share (EPS) is projected to be 1.47 yuan in 2025, with a price-to-earnings (P/E) ratio of 20.32 [3].

Core Viewpoint - Xiangsheng Medical (688358) experienced a decline in stock price and significant net outflow of funds on September 2, 2025, indicating potential investor concerns about the company's performance and market sentiment [1][2]. Financial Performance - As of September 2, 2025, Xiangsheng Medical's stock closed at 29.94 yuan, down 4.35% with a trading volume of 26,200 hands and a transaction amount of 79.1551 million yuan [1]. - The company reported a main revenue of 236 million yuan for the first half of 2025, a year-on-year decrease of 4.61%, and a net profit attributable to shareholders of 69.6963 million yuan, down 14.32% year-on-year [3]. - In Q2 2025, the company achieved a single-quarter main revenue of 108 million yuan, up 1.37% year-on-year, but the net profit attributable to shareholders decreased by 21.57% to 28.0818 million yuan [3]. Market Position and Ratios - Xiangsheng Medical's total market value is 3.357 billion yuan, with a net asset of 1.378 billion yuan and a net profit of 69.6963 million yuan, ranking 98th, 90th, and 45th respectively in the medical device industry [3]. - The company has a price-to-earnings ratio (P/E) of 24.08, significantly lower than the industry average of 65.2, indicating a potentially undervalued stock [3]. - The gross margin stands at 60.65%, higher than the industry average of 51.85%, while the net margin is 29.51%, compared to the industry average of 10.39% [3]. Fund Flow Analysis - On September 2, 2025, the main funds saw a net outflow of 12.2648 million yuan, accounting for 15.49% of the total transaction amount, while retail investors had a net inflow of 14.9967 million yuan, representing 18.95% of the total [1][2]. - Over the past five days, the stock has experienced fluctuating fund flows, with notable outflows from main funds on multiple days, indicating a trend of selling pressure [2]. Institutional Ratings - In the last 90 days, two institutions have given buy ratings for Xiangsheng Medical, suggesting some level of confidence in the company's future performance despite recent stock price declines [4].

Core Viewpoint - Xiangsheng Medical (688358) has experienced a decline in stock price and financial performance, indicating potential challenges in the medical device sector [1][4]. Stock Performance - As of August 29, 2025, Xiangsheng Medical's stock closed at 31.32 yuan, down 8.04% from the previous week [1]. - The stock reached a peak of 35.27 yuan on August 27, 2025, and a low of 30.96 yuan on August 29, 2025 [1]. - The company's current market capitalization is 3.512 billion yuan, ranking 102 out of 126 in the medical device sector and 4147 out of 5152 in the A-share market [1]. Shareholder Changes - As of June 30, 2025, the number of shareholders increased to 6,631, up by 122 from March 31, 2025, representing a growth of 1.87% [3][7]. - The average number of shares held per shareholder decreased from 17,200 shares to 16,900 shares, with an average holding value of 501,400 yuan [3]. Financial Performance - For the first half of 2025, Xiangsheng Medical reported a main revenue of 236 million yuan, a year-on-year decrease of 4.61% [4][7]. - The net profit attributable to shareholders was 69.696 million yuan, down 14.32% year-on-year [4][7]. - The second quarter of 2025 saw a main revenue of 108 million yuan, an increase of 1.37% year-on-year, but the net profit decreased by 21.57% to 28.0818 million yuan [4]. Company Announcements - The company plans to abolish the supervisory board, transferring its powers to the audit committee of the board of directors, pending approval at the 2025 first extraordinary general meeting [5][7]. - The company reported a net fundraising amount of 919 million yuan from its initial public offering, with 743 million yuan invested in projects by June 30, 2025 [5]. - Research and development expenses for the first half of 2025 amounted to 37.6131 million yuan, representing 15.93% of revenue, with R&D personnel accounting for 34.3% of the workforce [5]. - The company has signed an agreement with the Gates Foundation to jointly develop innovative obstetric and breast ultrasound equipment [5].

Financial Performance - The company reported total revenue of 236 million yuan for the first half of 2025, a decrease of 4.61% year-on-year [1] - The net profit attributable to shareholders was 69.696 million yuan, down 14.32% compared to the previous year [1] - In Q2 2025, total revenue was 108 million yuan, showing a slight increase of 1.37% year-on-year, while net profit for the same quarter was 28.0818 million yuan, a decline of 21.57% [1] Key Financial Ratios - The gross margin was 60.65%, an increase of 0.93% year-on-year, while the net margin decreased by 10.18% to 29.51% [1] - The total of selling, administrative, and financial expenses reached 30.1444 million yuan, accounting for 12.76% of revenue, which is an increase of 28.3% year-on-year [1] - Earnings per share (EPS) decreased by 15.07% to 0.62 yuan, while the net asset per share increased by 1.18% to 12.29 yuan [1] Accounts Receivable and Cash Flow - The accounts receivable amounted to 184 million yuan, representing a 4.33% increase year-on-year, and accounted for 130.71% of the net profit [1][3] - Operating cash flow per share remained stable at 0.48 yuan, with a slight decrease of 1.03% year-on-year [1] Investment Insights - The company's return on invested capital (ROIC) was 7.82% last year, indicating average capital returns, with a historical median ROIC of 9.47% since its listing [3] - The company has a healthy cash asset position, which is favorable for its debt repayment capabilities [3] Fund Holdings - The largest fund holding in the company is the Xingyin Xinghui One-Year Holding Mixed A Fund, with 171,700 shares, showing an increase in holdings [4] - Other funds have shown mixed changes in their positions, with some increasing and others decreasing their holdings in the company [4]

本次财报公布的各项数据指标表现不尽如人意。其中，毛利率60.65%，同比增0.93%，净利率29.51%， 同比减10.18%，销售费用、管理费用、财务费用总计3014.44万元，三费占营收比12.76%，同比增 28.3%，每股净资产12.29元，同比增1.18%，每股经营性现金流0.48元，同比减1.03%，每股收益0.62 元，同比减15.07% 据证券之星公开数据整理，近期祥生医疗（688358）发布2025年中报。截至本报告期末，公司营业总收 入2.36亿元，同比下降4.61%，归母净利润6969.63万元，同比下降14.32%。按单季度数据看，第二季度 营业总收入1.08亿元，同比上升1.37%，第二季度归母净利润2808.18万元，同比下降21.57%。本报告期 祥生医疗公司应收账款体量较大，当期应收账款占最新年报归母净利润比达130.71%。 | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 2.48亿 | 2.36亿 | -4.61% | | 归母净利润（元） | 8134.36万 | 6969. ...

Core Points - The document outlines the independent director system of Wuxi Xiangsheng Medical Technology Co., Ltd, emphasizing the importance of independent directors in corporate governance and their role in protecting the interests of minority shareholders [5][17][23] Group 1: Independent Director Responsibilities - Independent directors must perform their duties independently, free from influence by the company or its major shareholders [2][5] - They are required to participate in decision-making, supervision, and provide professional advice to safeguard the overall interests of the company and protect the legal rights of minority shareholders [2][17] - The board must include at least one-third independent directors, with a majority of independent directors on the audit committee [3][5] Group 2: Independence Requirements - Independent directors must not have any direct or indirect interests that could affect their independent judgment [5][6] - They can serve as independent directors for a maximum of three domestic listed companies to ensure they have sufficient time and energy to fulfill their responsibilities [3][5] Group 3: Nomination and Election Process - The board of directors and shareholders holding more than 1% of the company's shares can propose independent director candidates, who must be elected by the shareholders' meeting [8][10] - The nomination process requires thorough verification of the candidate's qualifications and independence [10][11] Group 4: Rights and Powers - Independent directors have the right to independently hire intermediaries for auditing, consulting, or verification of specific company matters [17][21] - They can propose the convening of temporary shareholders' meetings and board meetings [17][21] Group 5: Performance and Reporting - Independent directors must submit an annual performance report detailing their attendance at meetings and their involvement in various committees [36][37] - The company is required to provide necessary support and resources for independent directors to perform their duties effectively [37][38] Group 6: Compliance and Accountability - Independent directors must report to the stock exchange if they are dismissed or if there are obstacles to their ability to perform their duties [23][22] - The company is responsible for covering the costs incurred by independent directors when hiring professional institutions [42]

Core Points - The document outlines the rules governing the board of directors of Wuxi Xiangsheng Medical Technology Co., Ltd, aiming to standardize the decision-making process and enhance the board's operational efficiency [1][22] - The board consists of six members, including two independent directors and one chairman [2][4] - The board has established specialized committees, including a strategy committee, audit committee, nomination committee, and compensation and assessment committee, with specific requirements for their composition [1][4] Board Composition and Responsibilities - The board is responsible for convening shareholder meetings, executing shareholder resolutions, and determining the company's operational plans and investment strategies [4][5] - The board must hold at least two regular meetings annually, with the chairman responsible for convening these meetings [5][10] - Major company matters not authorized to management require board review and, if necessary, submission to the shareholders' meeting [3][4] Meeting Procedures - Regular meetings require a 10-day notice, while temporary meetings require a 5-day notice [11][12] - In urgent situations, temporary meetings can be called with immediate notification, but explanations must be provided during the meeting [6][10] - A quorum for meetings requires the presence of more than half of the directors [14][17] Voting and Decision-Making - Each proposal must be discussed thoroughly before voting, with decisions made based on a majority of the board members present [15][22] - Directors must avoid voting on proposals where they have a conflict of interest, ensuring that decisions are made by independent directors [19][22] - The board's resolutions must be documented, and the results of votes must be communicated promptly [16][21] Documentation and Record-Keeping - The board secretary is responsible for maintaining records of meetings, including notices, attendance, and decisions made [20][34] - Meeting records must be signed by attending directors, and any dissenting opinions should be documented [31][34] - The board meeting archives must be preserved for at least ten years [34]