Group 1 - On September 5, a block trade of 100,000 shares of Anjisi was executed, with a transaction amount of 7.249 million yuan, accounting for 10.88% of the total transaction volume for the day [1] - The transaction price was 72.49 yuan, which represents a discount of 0.79% compared to the market closing price of 73.07 yuan [1]

Financial Performance - In the first half of 2025, the company achieved operating revenue of 302 million yuan, a year-on-year increase of 14.56% [1] - The net profit attributable to shareholders was 126 million yuan, a year-on-year increase of 1.26% [1] - The net profit excluding non-recurring items was 112 million yuan, a year-on-year decrease of 7.06%, primarily due to financial expenses [1] - In Q2 2025, the company reported operating revenue of 174 million yuan, a year-on-year increase of 14.03% [1] - The net profit attributable to shareholders in Q2 was 70 million yuan, a year-on-year decrease of 2.65% [1] Revenue Growth - Domestic revenue grew by 10.50% year-on-year, while overseas revenue increased by 18.29% [2] - European revenue saw a significant increase of 38.28%, Asian revenue grew by 29.05%, and South American revenue surged by 58.95% [2] - North American revenue declined by 9.89% due to the impact of US tariffs [2] Business Optimization and R&D - The company follows a "sales generation, R&D generation, exploration generation" strategy to optimize existing products and explore new pipelines [3] - Innovations include a redesigned hemostatic clip in the GI field and a comprehensive ESD solution combining various treatment systems [3] - The company is advancing multiple R&D pipelines, including reusable flexible endoscopes and AI-based clinical diagnostic products [3] Financial Metrics - The overall gross margin in the first half of 2025 decreased by 1.34 percentage points to 70.21% [4] - The financial expense ratio increased significantly by 10.52 percentage points, influenced by increased financial management activities [4] - In Q2 2025, the comprehensive gross margin was 69.86%, with notable changes in various expense ratios [4] Profit Forecast - Projected operating revenues for 2025-2027 are 779 million, 978 million, and 1.198 billion yuan, with year-on-year growth rates of 22.36%, 25.55%, and 22.49% respectively [5] - Expected net profits for the same period are 315 million, 384 million, and 476 million yuan, with growth rates of 7.27%, 21.90%, and 24.10% respectively [5] - The current stock price corresponds to a PE ratio of 20, 17, and 13 for 2025-2027 [5]

Core Points - The stock price of Anjiasi (688581) closed at 75.89 yuan, down 9.21% from last week [1] - The company's market capitalization is currently 6.145 billion yuan, ranking 59th out of 126 in the medical device sector and 2814th out of 5152 in the A-share market [1] Company Performance - In the first half of 2025, the company's operating revenue increased by 14.56% year-on-year [2] - The total profit rose by 2.78% year-on-year, while the net profit attributable to shareholders increased by 1.26% year-on-year [1][2] - The net cash flow from operating activities decreased by 34.90% year-on-year [2] Research and Development - R&D investment grew by 33.29% year-on-year, with its proportion of operating revenue increasing by 1.60 percentage points [2] Compliance and Oversight - During the continuous supervision period, no major issues or violations were found [2]

Core Viewpoint - The report outlines the ongoing supervision and assessment of Hangzhou Anjisi Medical Technology Co., Ltd. by CITIC Securities, focusing on the company's compliance, financial performance, and potential risks in the medical device industry [1][2]. Group 1: Continuous Supervision Overview - CITIC Securities conducted a site inspection on July 14, 2025, as part of its ongoing supervisory responsibilities [1]. - The supervision included reviewing corporate governance documents, financial management systems, and fundraising management practices [1]. Group 2: Identified Issues and Rectification - No major issues were found during the supervision period, indicating effective management practices [2]. - The company faces core competitiveness risks due to the lengthy and complex nature of developing minimally invasive endoscopic devices [2][3]. Group 3: Major Risk Factors - The company is exposed to operational risks from increasing competition in the domestic market and potential price reductions due to healthcare cost control measures [2][4]. - Quality control is critical, as any product defects could harm the company's reputation and financial performance [3][4]. Group 4: Financial Performance - For the first half of 2025, the company reported a revenue of 302.43 million yuan, a 14.56% increase from the previous year [11]. - The total profit for the same period was 149.13 million yuan, reflecting a 2.78% increase [11]. - The net profit attributable to shareholders was 111.51 million yuan, showing a decrease of 7.06% when excluding non-recurring gains [11]. Group 5: Research and Development - The company has increased its R&D investment, with total R&D expenses reaching 34.46 million yuan, a 33.29% increase compared to the previous period [18]. - R&D efforts focus on innovative diagnostic and therapeutic devices, with a strong emphasis on integrating AI technologies [12][18]. Group 6: Market Dynamics - The company is expanding its market presence, with significant sales growth in Europe (38.28%) and Asia (29.05%), while facing a decline in North America (9.89%) due to trade tensions [16]. - The company actively adapts to new procurement policies and payment regulations in the healthcare sector to maintain competitiveness [8][9]. Group 7: Compliance and Governance - The company adheres to various international and domestic quality management standards, ensuring compliance in its operations [13]. - There were no significant violations of fundraising regulations during the supervision period, indicating sound financial governance [21][24].

中信证券股份有限公司 关于杭州安杰思医学科技股份有限公司 2025 年半年度持续督导跟踪报告 1 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为杭州安 杰思医学科技股份有限公司（以下简称"安杰思"或"公司"或"上市公司"） 首次公开发行股票并在科创板上市的保荐人，根据《证券发行上市保荐业务管理 办法》《上海证券交易所科创板股票上市规则》等相关规定，中信证券履行持续 督导职责，并出具本持续督导年度跟踪报告。 一、持续督导工作概述 1、保荐人制定了持续督导工作制度，制定了相应的工作计划，明确了现场 检查的工作要求。 2、保荐人已与公司签订保荐协议，该协议已明确了双方在持续督导期间的 权利义务，并报上海证券交易所备案。 3、本持续督导期间，保荐人通过与公司的日常沟通、现场回访等方式开展 持续督导工作，并于 2025 年 7 月 14 日对公司进行了现场检查。 4、本持续督导期间，保荐人根据相关法规和规范性文件的要求履行持续督 导职责，具体内容包括： （1）查阅公司章程、三会议事规则等公司治理制度、三会会议材料； （2）查阅公司财务管理、会计核算和内部审计等内部控制制度； （3）查阅公司与控股股东、实际 ...

Company Overview - Anjess Medical Technology Co., Ltd. is located in Hangzhou, Zhejiang Province, and was established on December 6, 2010. The company went public on May 19, 2023. Its main business involves the research, development, production, and sales of endoscopic minimally invasive diagnostic and therapeutic devices [1][2]. Financial Performance - For the first half of 2025, Anjess achieved operating revenue of 302 million yuan, representing a year-on-year growth of 14.56%. The net profit attributable to the parent company was 126 million yuan, with a year-on-year increase of 1.26% [2]. - Since its A-share listing, Anjess has distributed a total of 239 million yuan in dividends [3]. Stock Performance - As of August 22, Anjess's stock price was 82.37 yuan per share, with a market capitalization of 6.67 billion yuan. The stock has increased by 41.25% year-to-date, but has seen a slight decline of 0.19% over the last five trading days and 0.16% over the last twenty days [1]. - The stock's trading volume on August 22 was 26.16 million yuan, with a turnover rate of 0.76%. The net outflow of main funds was 3.83 million yuan, with large orders accounting for 14.80% of purchases and 29.44% of sales [1]. Shareholder Information - As of August 20, the number of shareholders for Anjess was 5,293, a decrease of 1.34% from the previous period. The average number of circulating shares per person increased by 1.36% to 7,824 shares [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited has exited the list of the top ten circulating shareholders [3]. Business Segmentation - Anjess's main business revenue composition is as follows: GI category 62.74%, EMR/ESD category 23.26%, ERCP category 11.04%, instruments category 2.21%, and others 0.74% [1].

Group 1 - The medical device sector has gained significant attention, with 125 out of 131 companies in the A-share market experiencing stock price increases in the past month, and Sino Medical Science Technology Co., Ltd. achieving a remarkable stock price increase of 207.59% [1] - Institutional investors are actively researching the medical device industry, indicating a reassessment of growth potential in this sector [1] - The Chinese government has introduced supportive policies to accelerate the high-quality development of the medical device industry, aiming to transition from a major pharmaceutical country to a strong one [1] Group 2 - In July, the National Medical Products Administration released measures to support innovation in high-end medical devices, including medical robots and AI medical devices, highlighting the government's focus on high-end innovation [2] - The high-end medical device market in China is projected to grow rapidly, with an estimated market size of 2.8 trillion yuan by 2030, driven by technological advancements and domestic replacements [2] - The push for high-end innovation is expected to break the "low-end lock-in" in the medical device industry, enhancing the overall value and international competitiveness of the sector [2] Group 3 - Companies like Maide Medical Industrial Equipment Co., Ltd. are expanding their overseas channels through exhibitions and customer visits, with overseas orders expected to exceed 60 million yuan by the end of 2024 [3] - Anjies Medical Technology Co., Ltd. is deepening its global layout through localized operations and overseas production bases, successfully selling products to over 60 countries [3] - The global demand for medical devices is increasing, particularly in emerging markets, providing significant opportunities for Chinese medical device companies to expand internationally [3]

Group 1 - The core viewpoint of the news is that Anjiasi's stock price has increased by 6.07% to 87.93 yuan, with a rolling PE ratio of 24.14, marking a new low in 318 days, and a total market capitalization of 7.12 billion yuan [1] - Anjiasi ranks 48th in the medical device industry, which has an average PE ratio of 59.32 and a median of 39.97 [1] - As of July 31, 2025, Anjiasi has 5,365 shareholders, an increase of 202 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Group 2 - Anjiasi specializes in the research, production, and sales of minimally invasive diagnostic and therapeutic instruments, with main products including GI, EMR/ESD, and ERCP diagnostic series [1] - The company has received multiple government honors, including the title of "Zhejiang Province Export Brand" and the "Quality Award" from the Linping District Government [1] - In the latest semi-annual report for 2025, Anjiasi achieved an operating income of 302 million yuan, a year-on-year increase of 14.56%, and a net profit of 126 million yuan, with a gross profit margin of 70.21% [1]

证券之星消息，8月20日医疗器械板块较上一交易日上涨0.06%，济民健康领涨。当日上证指数报收于 3766.21，上涨1.04%。深证成指报收于11926.74，上涨0.89%。医疗器械板块个股涨跌见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 603222 | 济民健康 | 11.86 | 10.02% | 164.39万 | | 18.28亿 | | 300642 | 透景生命 | 24.81 | 7.45% | 35.17万 | | 8.65 Z | | 688581 | 安杰思 | 87.93 | 6.07% | 2.57万 | | 2.20亿 | | 301093 | 华兰股份 | 34.04 | 4.58% | 13.19万 | | 4.45亿 | | 600645 | 中源协和 | 29.66 | 3.27% | 23.37万 | | ...

Company Overview - Anjias Medical Technology Co., Ltd. specializes in the research, production, and sales of minimally invasive diagnostic and therapeutic instruments, particularly in the endoscopy sector [1] - The company's main products include GI series, EMR/ESD series, ERCP diagnostic series, and therapeutic instruments [1] - Anjias has received several government honors, including the "Zhejiang Province Export Brand" title and the "Quality Award" from the Linping District Government [1] Financial Performance - For the first half of 2025, the company reported a revenue of 302 million yuan, representing a year-on-year increase of 14.56% [1] - The net profit for the same period was 126 million yuan, with a year-on-year growth of 1.26% [1] - The sales gross margin stood at 70.21% [1] Market Position - As of the latest data, Anjias's rolling price-to-earnings (PE) ratio is 22.76, while the industry average PE ratio is 59.49 [2] - The company's total market capitalization is 6.713 billion yuan [1] - Anjias ranks 48th in the medical device industry based on PE ratio, with the industry median at 40.19 [1][2] Shareholding Structure - As of the 2025 semi-annual report, a total of 10 institutions hold shares in Anjias, including 5 other entities, 4 funds, and 1 brokerage, with a total holding of 17.6384 million shares valued at 1.143 billion yuan [1]