Group 1 - The core viewpoint of the news is that Qushi Asset Management has conducted research on two listed companies, Weisi Medical and Dongxin Co., focusing on their recent developments and financial performance [1] Group 2 - Weisi Medical's lower limb exoskeleton device has been included in the medical insurance catalog, and its electrical stimulation products are primarily used in obstetrics and gynecology-related departments [1] - Dongxin Co. reported a total profit loss of 129 million yuan for the first half of 2025, an increase in loss year-on-year due to high R&D investment, rising administrative expenses, increased financial costs, and a loss of 52.31 million yuan from its investment in Shanghai Lishuan [1] - Dongxin Co. specializes in niche storage chips such as NAND Flash, NOR Flash, and DRAM, with applications in various sectors including communication, security, consumer electronics, industrial medical, and automotive electronics [1]

Core Viewpoint - The announcement details the completion of share reduction plans by key executives of Nanjing Weisi Medical Technology Co., Ltd, including specific share amounts and percentages involved in the transactions [1][2][3]. Summary by Relevant Sections Shareholding Background - Before the reduction, the company's board member and CFO, Chen Lili, held 30,625 shares, representing 0.0320% of the total shares. Core technical personnel and vice president, Qiu Kai, held 136,500 shares, representing 0.1425% of the total shares. Both holdings originated from a restricted stock incentive plan [1][2]. Reduction Plan Implementation Results - Chen Lili planned to reduce up to 7,656 shares (0.0080% of total shares), while Qiu Kai planned to reduce up to 34,125 shares (0.0356% of total shares). The reduction period was set for three months following a 15-day post-announcement period [1][2]. Actual Reduction Details - As of the announcement date, Chen Lili reduced 7,600 shares (0.0079% of total shares) and Qiu Kai reduced 34,000 shares (0.0355% of total shares). The reductions were completed through centralized bidding on the Shanghai Stock Exchange [2][3]. - Chen Lili's shares were sold at a price range of 48.40 to 53.46 CNY per share, totaling 400,620.80 CNY. Qiu Kai's shares were sold at a price range of 45.98 to 46.90 CNY per share, totaling 1,582,713.90 CNY [3].

Summary of Key Points Core Viewpoint - WeiSi Medical announced the results of share reduction by certain directors and senior management, indicating compliance with previously disclosed reduction plans [1][3]. Reduction Subject's Pre-Reduction Situation - Before the reduction, Director and CFO Chen Lili held 30,625 shares, accounting for 0.0320% of the total share capital. Vice President and core technician Qiu Kai held 136,500 shares, representing 0.1425% of the total share capital. Both holdings originated from a restricted stock incentive plan and were unrestricted tradable shares [2]. Results of the Reduction Plan Implementation - On May 8, 2025, the company received a notice regarding the share reduction plan from the two shareholders. Chen Lili planned to reduce up to 7,656 shares (0.0080% of total shares) and Qiu Kai planned to reduce up to 34,125 shares (0.0356% of total shares) through centralized bidding within a specified period [3]. - As of the announcement date, Chen Lili had reduced 7,600 shares (0.0079% of total shares) at a price range of 48.40 - 53.46 CNY per share, totaling 400,620.80 CNY, leaving her with 23,025 shares (0.0240%) [3]. - Qiu Kai had reduced 34,000 shares (0.0355% of total shares) at a price range of 45.98 - 46.90 CNY per share, totaling 1,582,713.90 CNY, leaving him with 102,500 shares (0.1070%) [3]. - The actual reduction matched the previously disclosed plan, and the reduction period has concluded without early termination [3].

南京伟思医疗科技股份有限公司 证券代码：688580 证券简称：伟思医疗 公告编号：2025-036 关于部分董事、高级管理人员减持时间届满 暨减持股份结果的公告 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： 董事、高级管理人员持股的基本情况 本次减持计划实施前，南京伟思医疗科技股份有限公司（以下简称"公司"） 董事、副总经理、财务总监陈莉莉女士直接持有公司股份30,625股，占公司总股 本的比例为0.0320%；核心技术人员、副总经理仇凯先生直接持有公司股份 136,500股，占公司总股本的比例为0.1425%。上述董事、高级管理人员持有的公 司股份来源均为参与公司限制性股权激励计划归属获得的股份，为无限售流通股。 减持计划的实施结果情况 公司于2025年5月8日收到上述2名股东《关于股份减持计划的告知函》，具 体内容如下：董事、副总经理、财务总监陈莉莉女士计划根据市场情况拟通过集 中竞价交易方式减持公司股份数量不超过7,656股，即不超过公司股份总数的 0.0080%；核心技术人员、副总经 ...

Summary of Key Points - The company WeiSi Medical announced that two directors and executives have completed their share reduction plans [1] - Chen Lili reduced her holdings by 7,600 shares from June 3, 2025, to September 3, 2025, which represents 0.0079% of the company's total share capital, with a reduction price range of 48.4 to 53.46 yuan per share [1] - Qiu Kai reduced his holdings by 34,000 shares during the same period, accounting for 0.0355% of the company's total share capital, with a reduction price range of 45.98 to 46.9 yuan per share [1]

Core Viewpoint - The company reported a steady growth in revenue and profit for the first half of 2025, driven by increasing demand in rehabilitation medical services and devices, alongside improved operational efficiency [1][2]. Financial Performance - In the first half of 2025, the company achieved revenue of 210 million, a year-on-year increase of 9.85% - The net profit attributable to shareholders was 69 million, up 39.71% year-on-year - The net profit excluding non-recurring items was 64 million, reflecting a 46.30% year-on-year growth - For Q2 2025, revenue reached 115 million, with a year-on-year growth of 10.23% - The net profit attributable to shareholders for Q2 was 36 million, increasing by 29.56% - The net profit excluding non-recurring items for Q2 was 33 million, up 36.27% year-on-year [1]. Operational Efficiency - In Q2 2025, the company's sales expense ratio was 19.35%, a decrease of 7.68 percentage points year-on-year - The management expense ratio was 8.99%, down by 2.00 percentage points year-on-year - These improvements indicate enhanced operational management efficiency [2]. R&D and Product Development - The company invested 11 million in R&D in Q2 2025, accounting for 9.45% of revenue - Continued investment in traditional technology platforms like electrical and magnetic stimulation, with new product registrations enhancing market share - Increased focus on R&D for radiofrequency and laser energy sources to improve product performance and competitiveness [2]. Market Expansion - The company is focusing on leading products and solutions for pelvic floor, postpartum rehabilitation, mental health, and neurological rehabilitation in the domestic market - Efforts are being made to cultivate new growth engines in the energy source aesthetic medicine matrix - Participation in international exhibitions, such as the American Clinical Transcranial Stimulation Society Annual Meeting, has garnered positive market feedback, indicating potential for overseas business growth [3]. Profit Forecast and Valuation - The company's net profit forecasts for 2025-2026 have been slightly adjusted downwards to 131 million, 151 million, and 180 million, reflecting decreases of 6.6%, 9.4%, and 8.0% respectively from previous estimates - The current price corresponds to a PE ratio of 39, 34, and 28 for 2025-2027 - The company is positioned as a leader in magnetic and electric rehabilitation devices, benefiting from the high growth potential in the rehabilitation industry and consumer upgrades, maintaining an "accumulate" rating [3].

Investment Rating - The report maintains an "Accumulate" rating for the company [5] Core Views - The company achieved steady revenue growth in Q2 2025, with a revenue of 210 million yuan, representing a year-on-year increase of 9.85%, and a net profit attributable to shareholders of 69 million yuan, up 39.71% year-on-year [1] - The growth is attributed to the continuous demand for rehabilitation medical services and devices, alongside an expanding product matrix [2] - The company is focusing on R&D innovation, with R&D expenses amounting to 11 million yuan, which is 9.45% of revenue, and is enhancing its product offerings in traditional and emerging technology platforms [2][3] - The company is also accelerating its international expansion, with positive feedback from participation in international exhibitions, indicating potential for overseas business growth [3] Summary by Sections Financial Performance - In Q2 2025, the company reported revenue of 115 million yuan, a 10.23% increase year-on-year, and a net profit of 36 million yuan, up 29.56% year-on-year [1] - For the first half of 2025, the company’s revenue was 210 million yuan, with a net profit of 69 million yuan, reflecting a 39.71% increase [1] Operational Efficiency - The sales expense ratio decreased to 19.35%, down 7.68 percentage points year-on-year, while the management expense ratio fell to 8.99%, down 2.00 percentage points, indicating improved operational efficiency [2] R&D and Product Development - The company continues to invest in R&D, focusing on traditional technology platforms and new product registrations, which strengthens its market position [2] - The company is enhancing the performance and applicability of its PicoV picosecond laser products through increased R&D investment [2] Market Expansion - The company aims to provide leading products and solutions for pelvic and postpartum rehabilitation, as well as mental and neurological rehabilitation, to ensure stable performance growth [3] - The international market is seen as a new growth engine, with ongoing efforts to gain product access qualifications [3] Profit Forecast and Valuation - The profit forecast for 2025-2026 has been slightly adjusted downwards due to increased industry competition, with net profit estimates of 131 million yuan and 151 million yuan for 2025 and 2026, respectively [3] - The current price corresponds to a PE ratio of 39 for 2025, 34 for 2026, and 28 for 2027 [3]

Core Insights - Weisi Medical (688580) reported a closing price of 52.96 yuan as of August 29, 2025, down 3.22% from the previous week [1] - The company has a total market capitalization of 5.072 billion yuan, ranking 74th out of 126 in the medical device sector and 3279th out of 5152 in the A-share market [1] Shareholder Changes - As of June 30, 2025, the number of shareholders for Weisi Medical was 8095, an increase of 2162, or 36.44%, from March 31, 2025 [2][4] - The average number of shares held per shareholder decreased from 16,100 shares to 11,800 shares, with an average holding value of 550,000 yuan [2] Financial Performance - For the first half of 2025, Weisi Medical reported a main revenue of 210 million yuan, a year-on-year increase of 9.85% [3] - The net profit attributable to shareholders was 69.32 million yuan, up 39.71% year-on-year, while the net profit excluding non-recurring items was 63.57 million yuan, an increase of 46.3% [3][4] - In Q2 2025, the company achieved a single-quarter main revenue of 115 million yuan, a 10.23% year-on-year increase, with a net profit of 36.10 million yuan, up 29.56% year-on-year [3] - The company's debt ratio stands at 8.95%, with investment income of 6.59 million yuan and financial expenses of -1.90 million yuan, while the gross profit margin is 66.09% [3]

Group 1 - The company held its fourth Supervisory Board meeting on August 27, 2025, which complied with relevant laws and regulations [1] - The Supervisory Board unanimously approved the 2025 semi-annual report, confirming its compliance with legal requirements and accuracy [2][3] - The Supervisory Board also approved a special report on the use of raised funds, affirming that the funds were stored and used in accordance with regulations [4][5] Group 2 - The company approved the use of temporarily idle self-owned funds to purchase financial products, with a limit of up to RMB 1.05 billion within 12 months [6][7] - The decision to cancel the Supervisory Board and amend the Articles of Association was made to improve corporate governance [8][10] - The company plans to revise internal governance systems to enhance operational standards [11][12] Group 3 - The Board of Directors held its fifth meeting on August 27, 2025, with all members present, confirming compliance with legal and regulatory requirements [16] - The Board unanimously approved the semi-annual report and the special report on the use of raised funds, similar to the Supervisory Board's decisions [18][19] - The Board agreed to use idle funds for financial products, with the same investment limit and conditions as approved by the Supervisory Board [20][22] Group 4 - The Board proposed to elect a new independent director to replace the outgoing director, with the election scheduled for the upcoming shareholder meeting [23][25] - The Board also approved the cancellation of the Supervisory Board, with the responsibilities to be transferred to the Audit Committee [26][28] - A shareholder meeting is scheduled for September 15, 2025, to discuss various proposals [31][32] Group 5 - The company announced a half-year performance briefing scheduled for September 30, 2025, to discuss the semi-annual results and address investor inquiries [77][78] - The briefing will be conducted online, allowing for interactive communication with investors [79][81]

Core Points - The company has decided to cancel its supervisory board and will allow the audit committee of the board to exercise the functions of the supervisory board as per the new Company Law [2][3] - The company will revise its Articles of Association to reflect this change and will also update related governance systems to enhance operational standards [5][6] - The changes will be submitted for approval at the upcoming shareholders' meeting, and the management team will be authorized to handle the necessary registration procedures [5][6] Company Overview - The company is named Nanjing Weisi Medical Technology Co., Ltd., with the stock code 688580 and the announcement number 2025-032 [2] - The company emphasizes the importance of maintaining compliance with legal regulations and protecting the interests of shareholders during the transition [3][4]