一、审议通过《关于公司<2025 年第三季度报告>的议案》 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）上披露的《深圳 市亚辉龙生物科技股份有限公司 2025 年第三季度报告》。 证券代码：688575 证券简称：亚辉龙 公告编号：2025-054 深圳市亚辉龙生物科技股份有限公司 第四届监事会第六次会议决议公告 本公司监事会及全体监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。 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）第四届监事会第六 次会议（以下简称"本次会议"）于 2025 年 10 月 28 日以现场方式召开，会议应到 监事 3 人，实到监事 3 人，出席监事占应出席人数的 100%。本次会议的召集、召开 程序符合《公司章程》和有关法律、法规的要求。经与会监事审议和表决，会议形 成如下决议： 表决结果：3 票同意；0 票反对；0 票弃权。 二、审议通过《关于调整 2023 年限制性股票激励计划授予价格的议案》 公司本次对 2023 年限制性股票激励计划授予价格的调整符合《上市公司股权激 励管理办法》 ...

证券代码：688575 证券简称：亚辉龙 公告编号：2025-053 深圳市亚辉龙生物科技股份有限公司 第四届董事会第七次会议决议公告 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。 深圳市亚辉龙生物科技股份有限公司（以下简称"公司"）第四届董事会第七 次会议（以下简称"本次会议"）于 2025 年 10 月 28 日以现场加通讯方式召开，会 议应到董事 7 人，实到董事 7 人，出席董事占应出席人数的 100%。本次会议的召集、 召开程序符合《深圳市亚辉龙生物科技股份有限公司章程》（以下简称"《公司章 程》"）和有关法律、法规的要求。经与会董事审议和表决，会议形成如下决议： 一、审议通过《关于公司<2025 年第三季度报告>的议案》 具体内容详见同日在上海证券交易所网站（www.sse.com.cn）上披露的《深圳 市亚辉龙生物科技股份有限公司 2025 年第三季度报告》。 二、审议通过《关于调整 2023 年限制性股票激励计划授予价格的议案》 鉴于公司 2024 年年度权益分派方案已于 2025 年 6 月 27 日实 ...

Core Insights - The company Achieva (688575.SH) reported its Q3 2025 earnings, showing significant growth in both revenue and profit metrics [2] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 1.287 billion yuan and a net profit attributable to shareholders of 60.42 million yuan, with a non-recurring net profit of 101 million yuan [2] - R&D investment reached 209 million yuan, accounting for 16.23% of total revenue [2] International Expansion - The company's internationalization efforts are yielding results, with overseas self-produced main business revenue reaching 208 million yuan, a year-on-year increase of 39.39%, representing 16.16% of total revenue [2] - Revenue from overseas chemiluminescence business was 190 million yuan, up 41.96% year-on-year, while revenue from overseas chemiluminescence reagents (including consumables) was 117 million yuan, reflecting a 50.79% increase [2] Quarterly Breakdown - In Q3 (July to September), the overseas self-produced main business generated revenue of 79.17 million yuan, a year-on-year growth of 68.53% and a quarter-on-quarter increase of 9.78% [2] - The overseas chemiluminescence business revenue for the same period was 74.24 million yuan, marking a year-on-year increase of 75.64% and a quarter-on-quarter growth of 16.24% [2] - Revenue from overseas self-produced chemiluminescence reagents (including consumables) was 43 million yuan, up 52.41% year-on-year [2] Market Coverage - The company has expanded its international market presence, covering 120 countries and regions across the Americas, Europe, Asia, and Africa, with the establishment of 6 international offices/service centers and 1 R&D center [2]

深圳市亚辉龙生物科技股份有限公司 2025 年第三季度报告 （一） 主要会计数据和财务指标 证券代码：688575 证券简称：亚辉龙 深圳市亚辉龙生物科技股份有限公司 2025 年第三季度报告 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。 重要内容提示： 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存 在虚假记载、误导性陈述或重大遗漏，并承担个别和连带的法律责任。 公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）保证季度报告中财务信息 的真实、准确、完整。 第三季度财务报表是否经审计 □是 √否 一、主要财务数据 单位：元 币种：人民币 项目 本报告期 本报告期比 上年同期增 减变动幅度 (%) 年初至报告期末 年初至报告期 末比上年同期 增减变动幅度 (%) 营业收入 478,273,760.85 10.25 1,286,711,447.77 -7.69 利润总额 41,549,908.17 -10.52 64,477,689.50 -70.72 归属于上市公司股东的 ...

亚辉龙公告，第三季度营收为4.78亿元，同比增长10.25%；净利润为3415.16万元，同比下降25.12%。 前三季度营收为12.87亿元，同比下降7.69%；净利润为6042.09万元，同比下降72.36%。 ...

Group 1 - The core viewpoint of the news is that Aihuilong's stock price increased by 5.27%, reaching 15.39 CNY per share, with a total market capitalization of 8.779 billion CNY as of the report date [1] - Aihuilong Biotechnology Co., Ltd. specializes in the research, production, and sales of in vitro diagnostic instruments and related reagents, primarily using chemiluminescent immunoassay methods [1] - The company's revenue composition includes 58.57% from self-produced reagents (non-COVID products), 12.60% from self-produced consumables (non-COVID products), and 11.92% from self-produced instruments (non-COVID products) [1] Group 2 - Huabao Zhongzheng Medical ETF (512170) is among the top ten circulating shareholders of Aihuilong, having increased its holdings by 171,400 shares in the second quarter, now holding 11.4185 million shares, which is 2% of the circulating shares [2] - The fund has achieved a year-to-date return of 14.75% and a one-year return of 6.63%, ranking 3345 out of 4218 and 3530 out of 3878 in its category, respectively [2]

Group 1 - The overall revenue and net profit of the IVD sector in A-share listed companies declined in Q2 2025, with a year-on-year decrease of 10.3% in revenue and 18.4% in net profit [2] - The gross profit margin for the sector slightly decreased to 57.3% in Q2 2025, attributed to the impact of medical reform policies such as DRG/DIP payment reforms [2][3] Group 2 - The medical reform has led to a decline in IVD product prices, creating a significant opportunity for domestic companies to replace imports [3] - Companies like Mindray and New Industries are experiencing revenue declines but are positioned to capture market share due to their relatively low market penetration in key segments [3] - The international IVD market presents substantial growth potential, being 4-5 times larger than the Chinese market, with emerging markets like China, India, Turkey, Russia, and Brazil showing rapid growth [4]

Core Insights - The company has established six major R&D centers and a production base in Xiangtan, Hunan, undertaking several significant national and provincial scientific projects [1] - The "High-Performance Immuno Rapid Detection System R&D" project is included in the "14th Five-Year" National Key R&D Program, addressing clinical issues such as complex interference in whole blood sample testing, low sensitivity, and long detection times [1] - Since the project's inception, the company has applied for 18 invention patents and has obtained a registration certificate for myocardial marker composite quality control products [1] - As of August 31, 2025, the company plans to apply for a total of 760 patents, with 59% being invention patents [1] - The company emphasizes industry-academia-research collaboration, establishing joint laboratories with prestigious institutions like Peking University and the Chinese Academy of Sciences to foster high-level professional talent and advance technology in the in vitro diagnostics field [1]

Investment Rating - The investment rating for the company is "Buy" with a target price not specified [6] Core Views - The company's domestic performance is under short-term pressure due to factors such as medical insurance cost control and intensified market competition, while its overseas business continues to grow significantly [2][4] - The company has seen a decline in its main business revenue domestically, with a 21.08% decrease to 5.42 billion yuan, while overseas revenue increased by 26.00% to 1.29 billion yuan [2] - The company is advancing its self-produced instruments and assembly lines steadily, with a total of 546 new installations domestically and 544 installations overseas in the first half of 2025 [3] - The company has launched innovative digital business initiatives, including a diabetes management platform and an intelligent clinical laboratory software system, enhancing its AI+IVD strategy [4] Financial Performance Summary - In H1 2025, the company achieved operating revenue of 808 million yuan, a decrease of 15.79% year-on-year, and a net profit attributable to the parent company of 26.27 million yuan, down 84.82% year-on-year [1] - The company’s R&D expense ratio increased to 17.41%, reflecting a focus on innovation despite the revenue decline [3] - The financial forecast estimates operating revenues of 2.19 billion yuan, 2.58 billion yuan, and 3.05 billion yuan for 2025, 2026, and 2027 respectively, with net profits projected at 564 million yuan, 580 million yuan, and 583 million yuan for the same years [4][10]

Investment Rating - The report recommends focusing on leading companies in various segments of the high-value consumables and medical device sectors, indicating a positive outlook for recovery and growth in these areas [4][30]. Core Insights - High-value consumables have begun to recover from the impacts of centralized procurement, with leading companies regaining profitability levels seen before the procurement initiatives [4][32]. - The medical device and IVD sectors are expected to show signs of recovery, with significant improvements anticipated in financial performance by Q3 2025 for device companies and by Q4 2025 for IVD companies [4][30]. - The report highlights specific high-growth segments, including vascular intervention, orthopedics, and IVD, suggesting that these areas will continue to attract investment due to their growth potential and market dynamics [4][30]. Summary by Sections Medical Devices - The medical device sector is projected to experience a revenue decline in 2024, with a further drop of -5.18% expected in the first half of 2025, but recovery is anticipated thereafter [9][12]. - Despite revenue challenges, the overall gross margin and net profit margin have remained stable, with R&D expenses increasing from approximately 7% pre-pandemic to around 10% currently [10][12]. - Companies in the imaging equipment segment are expected to see improved performance in Q3 2025 as inventory issues are resolved and new procurement projects are executed [13][18]. High-Value Consumables - The high-value consumables sector has shown revenue growth in the first half of 2025, indicating a recovery from previous declines, with profit margins returning to levels seen in 2021 [32][33]. - Specific segments such as vascular intervention and orthopedics are highlighted for their resilience and growth potential, with companies like Huatai Medical and Weigao Orthopedics showing significant revenue increases [38][43]. IVD and Other Segments - The IVD sector is expected to see improvements by Q4 2025, with overall industry recovery projected for the first half of 2026 [4][30]. - The report emphasizes the importance of innovation and market expansion for companies in the rehabilitation and home medical device sectors, with firms like Sanofi and Kefu Medical showing strong growth despite market challenges [24][26].