证券代码：688581 证券简称：安杰思 公告编号：2024-054 杭州安杰思医学科技股份有限公司 4、2023 年 8 月 31 日，公司召开 2023 年第二次临时股东大会，审议通过了 《关于公司<2023 年限制性股票激励计划（草案）>及其摘要的议案》《关于公 司<2023 年限制性股票激励计划实施考核管理办法>的议案》《关于提请股东大 会授权董事会办理 2023 年限制性股票激励计划相关事宜的议案》等议案。次日， 公司于上海证券交易所网站（www.sse.com.cn）披露了《杭州安杰思医学科技股 份有限公司关于 2023 年限制性股票激励计划内幕信息知情人及激励对象买卖公 司股票情况的自查报告》（公告编号：2023-019）。 5、2023 年 9 月 7 日，公司召开第二届董事会第七次会议和第二届监事会第 五次会议，审议通过了《关于向 2023 年限制性股票激励计划激励对象首次授予 限制性股票的议案》。公司独立董事对该事项发表了独立意见，认为授予条件已 经成就，激励对象主体资格合法有效，确定的授予日符合相关规定。监事会对授 予日的激励对象名单进行核实并发表了核查意见。 关于作废部分已授予但尚未归 ...

证券代码：688581 证券简称：安杰思 公告编号：2024-052 杭州安杰思医学科技股份有限公司 公司 2023 年限制性股票激励计划首次授予部分第一个归属期规定的归属条件已经 成就，同意符合归属条件的 66 名激励对象归属 119,994股限制性股票，本事项符合《公 司法》《证券法》《上市公司股权激励管理办法》《上海证券交易所科创板股票上市 规则》《科创板上市公司自律监管指南第 4 号——股权激励信息披露》等法律法规、规 范性文件及本次激励计划的相关规定，不存在损害公司及股东利益的情形。 表决结果：3票同意、0票反对、0票弃权。 具体内容详见公司同日披露于上海证券交易所网站（www.sse.com.cn）的《关于 2023年限制性股票激励计划首次授予部分第一个归属期符合归属条件的公告》（公告 编号：2024-051）。 第二届监事会第十三次会议决议公告 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。 杭州安杰思医学科技股份有限公司（以下简称"公司"）第二届监事会第十三次 会议于 2024 年 11 月 15 日以现场结合 ...

证券代码：688581 证券简称：安杰思 公告编号：2024-050 杭州安杰思医学科技股份有限公司 关于召开2024年第三季度业绩说明会的公告 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。 重要内容提示： 会议召开时间：2024 年 11 月 18 日(星期一) 上午 09:00-10:00 会 议 召 开 地 点 ： 上海证券 交易所上证路演中心（ 网 址 ： https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络文字互动 投资者可于 2024 年 11 月 11 日(星期一) 至 11 月 15 日(星期五)16:00 前登 录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 IR@bioags.com 进行提问。公司将在说明会上对投资者普遍关注的问题进行回答。 本次投资者说明会以网络文字互动形式召开，公司将针对 2024 年三季度的 经营成果及财务指标的具体情况与投资者进行互动交流和沟通，在信息披露允 许的范围内就投资者普遍关注的问题进行回答。 二、 说明会召开的时间 ...

Investment Rating - The report maintains a "Buy" rating for the company [3]. Core Views - The company has shown steady revenue growth in Q3 2024, with a year-on-year increase of 16.34% to reach 163 million yuan, while net profit grew by 13.40% to 73 million yuan. The overall revenue for the first three quarters of 2024 was 427 million yuan, reflecting a 23.53% increase year-on-year [1]. - The slowdown in growth is attributed to domestic procurement policies, but the overseas market is performing well, with significant growth in North America (48.28%) and Asia-Pacific (81.93%) [1]. - The company is actively pursuing localization strategies in overseas markets, with a new subsidiary in the Netherlands set to begin operations and plans for a factory in Thailand expected to start production by Q2 2025 [1]. - The company continues to invest in R&D, with a notable increase in the proportion of R&D personnel, which reached 22.18% by the end of Q3 2024 [1]. Financial Performance Summary - For Q3 2024, the gross margin was 73.07%, an increase of 2.96 percentage points year-on-year. The sales expense ratio decreased to 8.57%, while the R&D expense ratio increased to 9.55% [1]. - The company forecasts revenues of 655 million yuan, 855 million yuan, and 1.12 billion yuan for 2024, 2025, and 2026, respectively, with corresponding net profits of 274 million yuan, 348 million yuan, and 445 million yuan [2][11]. - The projected P/E ratios for the next three years are 18X, 14X, and 11X, indicating a favorable valuation trend [1][2].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 20% relative to the market benchmark within the next six months [15]. Core Insights - The company reported a revenue of 427 million yuan for the first three quarters of 2024, representing a year-on-year increase of 23.5%, with a net profit of 197 million yuan, up 37.9% year-on-year [1]. - The overseas revenue growth remains strong, with a 33.2% increase in international sales, particularly notable growth in North America (48.3%) and the Asia-Pacific region (81.9%) [2]. - The company is actively expanding its overseas channels, including the establishment of a subsidiary in the Netherlands and plans for a factory in Thailand, expected to commence production in Q2 2025 [2]. - Continuous investment in R&D is evident, with R&D expenses increasing by 46.8% year-on-year, and the proportion of R&D personnel reaching 22.2% [2]. Financial Performance Summary - For Q3 2024, the company achieved a revenue of 163 million yuan, a 16.3% increase year-on-year, and a net profit of 73 million yuan, up 13.4% year-on-year [1]. - The company forecasts net profits of 274 million yuan, 358 million yuan, and 464 million yuan for 2024, 2025, and 2026 respectively, with a compound annual growth rate (CAGR) of 28.8% [2]. - The gross profit margin for the first three quarters of 2024 was reported at 72.23%, an increase of 2.71 percentage points year-on-year [1]. Market Position and Strategy - The company has adjusted its sales strategy in response to domestic centralized procurement policies, focusing on non-volume areas and accelerating platform model development [2]. - The addition of 20 new overseas clients highlights the company's commitment to expanding its market presence, particularly in South America and the Asia-Pacific region [2]. - The successful domestic and international promotion of new products, such as the convertible hemostatic clip, indicates a strong market acceptance and growth potential [2].

| 回购方案首次披露日 | 2024/2/8，由董事长提议 | | --- | --- | | 回购方案实施期限 | 2024/2/7~2025/2/6 | | 预计回购金额 | 3,000 万元~5,000 万元 | | 回购用途 | □减少注册资本 √用于员工持股计划或股权激励 | | | □用于转换公司可转债 | | | □为维护公司价值及股东权益 | | 累计已回购股数 | 万股 40.14 | | 累计已回购股数占总股本比 | 0.50% | | 例 | | | 累计已回购金额 | 万元 3,096.79 | | 实际回购价格区间 | 元/股~82.70 元/股 72.95 | 注：上述累计已回购股份数占总股本比例中的总股本已按照送股后的总股本 80,858,800 股计算。 一、 回购股份的基本情况 证券代码：688581 证券简称：安杰思 公告编号：2024-049 杭州安杰思医学科技股份有限公司 关于以集中竞价交易方式回购公司股份的进展公告 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、准确性和完整性承担法律责任。 重要内容提示： 二、 ...

Financial Performance - The company's main business revenue for the first three quarters of 2023 reached 427 million CNY, representing a year-over-year increase of 23.50% [2] - Net profit attributable to shareholders was 197 million CNY, up 37.91% year-over-year [2] - The company's net profit after deducting non-recurring gains and losses was 192 million CNY, reflecting a 36.52% increase [2] - Earnings per share stood at 2.45 CNY, marking a 19.38% rise [2] Sales Breakdown - Domestic sales revenue amounted to 203 million CNY, with a year-over-year growth of 14.44% [3] - Overseas sales revenue reached 222 million CNY, showing a significant increase of 33.20% [3] - The overall product gross margin was 72.23%, an increase of 2.71 percentage points compared to the same period last year [3] Research and Development - The proportion of R&D personnel in the company reached 22.18%, an increase of 6 percentage points year-over-year [3] - The percentage of R&D staff with master's degrees or higher was 34.55%, up 18.38 percentage points from the previous year [3] - The company has obtained 10 new registration certificates for its products this year [5] Market Expansion - The North American market grew by 48.28%, the Asia-Pacific market by 81.93%, and the South American market by 42.69% from January to September 2024 [4] - The company is establishing a factory in Thailand, expected to commence production and sales by Q2 2025, and is also looking for suitable targets in the US and Europe for potential acquisitions or restructuring [3] Industry Outlook - Despite current challenges in the Chinese economy and healthcare sector, the future remains optimistic due to aging population and increasing medical demands [6] - The market is expected to normalize as policy directions become clearer [6]

Summary of Conference Call Company Overview - The conference call involved Angis, which reported stable growth in its Q3 2024 performance despite macroeconomic challenges and industry disruptions. The company achieved over 50% growth in its credit flow, indicating strong development quality [1][2]. Financial Performance - For Q3 2024, Angis reported total sales revenue of 163 million yuan, a 16.3% increase year-over-year. Cumulative sales revenue reached 427 million yuan, reflecting a 23.5% year-over-year growth. The company achieved a completion rate of 63.3% of its annual budget target, consistent with the previous year [1][2]. - Domestic sales amounted to 203 million yuan, up 14.4% year-over-year, while overseas sales reached 222 million yuan, marking a 33.2% increase, indicating stronger overseas performance [2]. Profitability and Margins - The company’s net profit and gross margin showed positive trends, with gross margins continuing to rise due to effective cost management and operational efficiencies. Sales and management expense ratios decreased, attributed to internal adjustments rather than external factors [6][7]. Industry Dynamics - The call discussed the impact of centralized procurement policies, particularly in the domestic market. The implementation of these policies has been uneven, with ten provinces fully executing procurement processes, while others, like Anhui, have faced delays [4][5]. - The company anticipates that centralized procurement is a transitional policy, with a shift towards a nationwide price linkage system expected to be fully implemented by January 1, 2025. This could diminish the significance of centralized procurement [5][14]. Market Challenges - The domestic market faces significant challenges, including reduced hospital budgets and a decline in procurement activities, with only about 20% of expected tenders being executed. This has led to a decrease in sales of certain medical devices, particularly in the dual-polarity segment [9][12][36]. - The ongoing anti-corruption measures have created uncertainty in the market, affecting hospitals' willingness to engage in procurement and impacting overall sales volumes [11][12]. Future Outlook - Angis is optimistic about its overseas expansion, with significant growth reported in North America (54%), Asia-Pacific (80%), and South America (42%) for Q3. The company has established partnerships for clinical evaluations in Europe and plans to expand its product offerings in these regions [20][21]. - The company is committed to increasing its R&D investments, with plans to launch 10-15 new products in the next two years, despite current market challenges [24][25]. Strategic Initiatives - Angis is focusing on enhancing its product offerings and service capabilities domestically while maintaining a balanced approach to international markets. The company aims to deepen its market penetration and improve service quality to drive growth [30][31]. - The management emphasized the importance of adapting to market conditions and maintaining flexibility in pricing strategies to remain competitive in both domestic and international markets [37][38]. Key Takeaways - Angis has demonstrated resilience in its financial performance amidst challenging market conditions, with a strong focus on overseas growth and product innovation. - The company is navigating complex regulatory environments and market dynamics, with a strategic emphasis on R&D and service enhancement to sustain long-term growth.

Investment Rating - The report maintains a "Recommended" rating for the company [2][5] Core Views - The company has demonstrated steady revenue growth, with a 23.5% year-on-year increase in revenue for the first three quarters, reaching 427 million yuan, and a 37.9% increase in net profit attributable to shareholders, totaling 197 million yuan [3][4] - The company is focusing on product innovation and research and development, particularly in endoscopic diagnosis and treatment, fiber imaging technology, and auxiliary robotics, which are expected to drive long-term growth [4][5] - The company has successfully launched new products, including a replaceable hemostatic clip and an innovative coated guidewire, which have been well-received in the market [4][5] Financial Summary - For the first three quarters of 2024, the company achieved a gross margin of 73.07%, with a slight increase from the previous quarter, indicating strong operational efficiency [4] - The company’s sales expense ratio was 8.57%, down by 1.49%, while the management expense ratio was 7.78%, up by 0.23%, and the R&D expense ratio was 9.55%, up by 2.26%, reflecting a balanced approach to cost management and investment in growth [4] - The projected financial performance for 2024-2026 includes revenue growth from 657 million yuan in 2024 to 1,131 million yuan in 2026, with net profit expected to increase from 268 million yuan to 438 million yuan during the same period [4][6][8]

Financial Performance - Revenue for the third quarter reached RMB 163.26 million, a year-on-year increase of 16.34%[2] - Net profit attributable to shareholders of the listed company for the third quarter was RMB 73.00 million, up 13.40% year-on-year[2] - Cumulative revenue from the beginning of the year to the end of the reporting period was RMB 427.26 million, a year-on-year increase of 23.53%[2] - Cumulative net profit attributable to shareholders from the beginning of the year to the end of the reporting period was RMB 197.45 million, up 37.91% year-on-year[2] - Operating income for the first three quarters of 2024 reached 427,255,735.56 yuan, a significant increase from 345,881,895.73 yuan in the same period last year[17] - Net profit for the first three quarters of 2024 was 197,452,784.89 yuan, compared to 143,174,996.17 yuan in the same period last year[19] - Operating profit for the first three quarters of 2024 was 230,234,063.11 yuan, compared to 163,799,376.83 yuan in the same period last year[19] - Net profit attributable to parent company shareholders reached RMB 197,452,784.89, an increase from RMB 143,174,996.17 in the previous year[20] - Basic earnings per share (EPS) increased to RMB 2.4499 from RMB 2.0522 year-over-year[20] R&D Investment - R&D investment for the third quarter was RMB 15.58 million, a year-on-year increase of 52.36%, accounting for 9.55% of revenue[3] - Cumulative R&D investment from the beginning of the year to the end of the reporting period was RMB 41.44 million, up 46.77% year-on-year[3] - R&D expenses increased to 41,435,654.28 yuan, up from 28,231,012.70 yuan in the previous year[19] Cash Flow and Financial Position - Net cash flow from operating activities from the beginning of the year to the end of the reporting period was RMB 216.59 million, a year-on-year increase of 50.64%[2] - Cash flow from operating activities was RMB 216,593,741.59, up from RMB 143,785,401.26 in the same period last year[21] - Cash received from sales of goods and services amounted to RMB 473,853,531.45, compared to RMB 343,288,191.11 in the previous year[21] - Cash outflow from investment activities was RMB 3,639,173,424.43, significantly higher than RMB 40,349,666.82 in the prior year[22] - Cash inflow from financing activities reached RMB 1,820,326,000.00, primarily due to subsidiary minority shareholder investments[22] - Net cash flow from financing activities was RMB -114,361,075.58, compared to RMB 1,598,918,645.11 in the previous year[22] - The company's cash and cash equivalents at the end of the period stood at RMB 805,482,331.70, down from RMB 1,971,570,882.45[22] Assets and Liabilities - Total assets at the end of the reporting period were RMB 2.41 billion, a year-on-year increase of 3.29%[3] - Shareholders' equity attributable to the listed company at the end of the reporting period was RMB 2.30 billion, a year-on-year increase of 3.95%[3] - Total assets increased to 2,407,873,095.43 yuan, up from 2,331,074,065.19 yuan in the previous period[16] - Total liabilities decreased to 112,362,683.46 yuan, down from 122,834,954.30 yuan in the previous period[17] - Shareholders' equity increased to 2,295,510,411.97 yuan, up from 2,208,239,110.89 yuan in the previous period[17] - Total non-current assets increased to 193,897,039.30 yuan, up from 184,935,085.18 yuan in the previous period[16] Shareholder Equity and Share Repurchase - The company repurchased 401,398 shares through centralized bidding, accounting for 0.50% of the total shares, with a total payment of 30.9679 million yuan[13] - Basic earnings per share for the third quarter were RMB 0.9028, a year-on-year increase of 13.92%[3] Changes in Financial Assets and Liabilities - The company's monetary funds decreased from 1,954,739,150.26 yuan at the end of 2023 to 805,489,331.70 yuan as of September 30, 2024[15] - The company's trading financial assets increased significantly from 82,419,132.42 yuan at the end of 2023 to 1,280,798,993.53 yuan as of September 30, 2024[15] - The company's accounts receivable decreased from 58,505,242.13 yuan at the end of 2023 to 47,756,747.38 yuan as of September 30, 2024[15] - The company's inventory increased from 46,800,372.11 yuan at the end of 2023 to 56,516,908.76 yuan as of September 30, 2024[15] - The company's prepayments increased from 2,165,488.47 yuan at the end of 2023 to 7,153,444.98 yuan as of September 30, 2024[15] - The company's other receivables increased slightly from 1,178,489.60 yuan at the end of 2023 to 1,258,629.78 yuan as of September 30, 2024[15] - The company's fixed assets increased from 90,992,259.67 yuan at the end of 2023 to 109,448,452.08 yuan as of September 30, 2024[15] - The company's construction in progress decreased from 67,917,872.68 yuan at the end of 2023 to 59,814,909.47 yuan as of September 30, 2024[15] - The company's total current assets increased from 2,146,138,980.01 yuan at the end of 2023 to 2,213,976,056.13 yuan as of September 30, 2024[15] Sales and Interest Income - Sales expenses rose to 41,923,488.07 yuan, compared to 37,424,561.20 yuan in the same period last year[19] - Interest income for the first three quarters of 2024 was 41,053,469.49 yuan, up from 19,662,304.43 yuan in the same period last year[19]