深圳惠泰医疗器械股份有限公司 独立董事提名人声明与承诺 提名人成正辉，现提名白云霞为深圳惠泰医疗器械股份有限 公司第三届董事会独立董事候选人，并已充分了解被提名人职业、 学历、职称、详细的工作经历、全部兼职、有无重大失信等不良 记录等情况。被提名人已书面同意出任深圳惠泰医疗器械股份有 限公司第三届董事会独立董事候选人（参见该独立董事候选人声 明）。提名人认为，被提名人具备独立董事任职资格，与深圳惠 泰医疗器械股份有限公司之间不存在任何影响其独立性的关系， 具体声明并承诺如下： 一、被提名人具备上市公司运作的基本知识，熟悉相关法律、 行政法规、规章及其他规范性文件，具有五年以上法律、经济、 会计、财务、管理等履行独立董事职责所必需的工作经验。 被提名人已经参加培训并取得证券交易所认可的相关培训 证明材料。 （五）中共中央组织部《关于进一步规范党政领导干部在企 业兼职（任职）问题的意见》的相关规定（如适用）； 二、被提名人任职资格符合下列法律、行政法规和部门规章 的要求： （一）《中华人民共和国公司法》等关于董事任职资格的规 定； （二）《中华人民共和国公务员法》关于公务员兼任职务的 规定（如适用）； （三）中国 ...

深圳惠泰医疗器械股份有限公司 独立董事候选人声明与承诺 本人白云霞，已充分了解并同意由提名人成正辉提名为深圳 惠泰医疗器械股份有限公司第三届董事会独立董事候选人。本人 公开声明，本人具备独立董事任职资格，保证不存在任何影响本 人担任深圳惠泰医疗器械股份有限公司独立董事独立性的关系， 具体声明并承诺如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行 政法规、部门规章及其他规范性文件，具有五年以上法律、经济 会计、财务、管理等履行独立董事职责所必需的工作经验。 （一）《中华人民共和国公司法》等关于董事任职资格的规 定； （二）《中华人民共和国公务员法》关于公务员兼任职务的 规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》和上海证 券交易所自律监管规则有关独立董事任职资格和条件的相关规 定； （四）中共中央纪委、中共中央组织部《关于规范中管干部 辞去公职或者退（离）休后担任上市公司、基金管理公司独立董 事、独立监事的通知》的规定（如适用）； （五）中共中央组织部《关于进一步规范党政领导干部在企 业兼职（任职）问题的意见》的相关规定（如适用）； 二、本人任职资格符合下列法律、行政法规和部门规章 ...

深圳惠泰医疗器械股份有限公司 独立董事候选人声明与承诺 本人李光，已充分了解并同意由提名人成正辉提名为深圳惠 泰医疗器械股份有限公司第三届董事会独立董事候选人。本人公 开声明，本人具备独立董事任职资格，保证不存在任何影响本人 担任深圳惠泰医疗器械股份有限公司独立董事独立性的关系，具 体声明并承诺如下： 一、本人具备上市公司运作的基本知识，熟悉相关法律、行 政法规、部门规章及其他规范性文件，具有五年以上法律、经济 会计、财务、管理等履行独立董事职责所必需的工作经验。 二、本人任职资格符合下列法律、行政法规和部门规章以及 公司规章的要求： （一）《中华人民共和国公司法》等关于董事任职资格的规 定； （二）《中华人民共和国公务员法》关于公务员兼任职务的 规定（如适用）； （三）中国证监会《上市公司独立董事管理办法》和上海证 券交易所自律监管规则有关独立董事任职资格和条件的相关规 定； （四）中共中央纪委、中共中央组织部《关于规范中管干部 辞去公职或者退（离）休后担任上市公司、基金管理公司独立董 事、独立监事的通知》的规定（如适用）； （五）中共中央组织部《关于进一步规范党政领导干部在企 业兼职（任职）问题的意见》的 ...

证券代码：688617 证券简称：惠泰医疗 公告编号：2025-049 深圳惠泰医疗器械股份有限公司 关于召开2025年第三次临时股东会的通知 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。 重要内容提示： 股东会召开日期：2025年11月21日 本次股东会采用的网络投票系统：上海证券交易所股东会网络投票系统 一、 召开会议的基本情况 （一） 股东会类型和届次 2025年第三次临时股东会 （二） 股东会召集人：董事会 （三） 投票方式：本次股东会所采用的表决方式是现场投票和网络投票相 结合的方式 （四） 现场会议召开的日期、时间和地点 召开日期时间：2025 年 11 月 21 日 9 点 30 分 召开地点：上海市徐汇区田林路 487 号宝石园 20 栋宝石大厦 22 楼会议室 （五） 网络投票的系统、起止日期和投票时间。 网络投票系统：上海证券交易所股东会网络投票系统 网络投票起止时间：自2025 年 11 月 21 日 至2025 年 11 月 21 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为 ...

Core Insights - The pharmaceutical industry is experiencing a structural change driven by the growth cycles of major products, with significant opportunities emerging in innovative drugs, medical devices, and consumer healthcare [3][6][31] - The demand for pharmaceuticals is expected to improve in 2026, supported by policies encouraging innovation and a recovery in domestic consumption [3][7] - The supply side of the pharmaceutical industry is characterized by high entry barriers due to patent protections and government regulations, which helps maintain a stable competitive environment [4][5] Group 1: Industry Trends - The aging population, urbanization, and changing disease patterns are making the pharmaceutical industry a perpetual growth sector [3] - The global pharmaceutical market has seen rapid expansion from 2009 to 2019, followed by a surge in demand due to COVID-19, and is now entering a phase of recovery and growth [3][6] - The Chinese pharmaceutical industry is expected to gradually produce world-class companies, with increasing recognition of Chinese innovative drug assets by multinational corporations (MNCs) [4][5] Group 2: Investment Opportunities - Opportunities in innovative drugs are highlighted, particularly in oncology, metabolic diseases, and autoimmune diseases, with a focus on next-generation therapies and precision medicine [6][31] - The demand for innovative drugs is expected to remain strong, with policies improving medical insurance payments and the upcoming launch of commercial insurance drug catalogs [7][31] - The medical device sector is anticipated to recover, with a focus on domestic demand and international expansion, particularly in areas with low domestic production rates [7][8] Group 3: Company Performance - Major pharmaceutical companies like Eli Lilly, AbbVie, and AstraZeneca are experiencing significant growth driven by key products, with Eli Lilly's Tirzepatide generating $24.8 billion in sales [12][15] - The report identifies specific companies such as Hengrui Medicine, Hansoh Pharmaceutical, and BeiGene as outperformers in the market, with strong pipelines and global competitiveness [7][8] - The report emphasizes the importance of mergers and acquisitions (M&A) and business development (BD) strategies for MNCs, with China becoming a significant source of projects for top global pharmaceutical companies [22][24]

每经AI快讯，太平洋11月5日发布研报称，给予惠泰医疗（688617.SH，最新价：287.45元）"买入"评 级。评级理由主要包括：1）多地收费政策落地，PFA手术量预计超过5000例；2）冠脉、外周市占率稳 步提升，渠道库存处于正常水平；3）毛利率趋稳，单三季度费用率有所上升。风险提示：集采降价的 风险，PFA推广不及预期的风险，产品研发不及预期的风险。 每经头条（nbdtoutiao）——大量苹果用户中招！手机秒变别人的"提款机"，一场以"电商伪装"精心设 计的骗局 （记者 王瀚黎） 免责声明：本文内容与数据仅供参考，不构成投资建议，使用前请核实。据此操作，风险自担。 每日经济新闻 ...

Group 1 - The core viewpoint of the news is that Shenzhen Huatai Medical has seen a stock price increase of 5.11%, reaching 289.48 CNY per share, with a total market capitalization of 40.821 billion CNY [1] - Shenzhen Huatai Medical specializes in the research, production, and sales of electrophysiology and vascular interventional medical devices, with its main business revenue composition being: coronary access 53.90%, electrophysiology 20.23%, peripheral intervention 17.51%, OEM 6.01%, non-vascular intervention 1.88%, and others 0.46% [1] Group 2 - According to data from the top ten holdings of funds, one fund under Jianxin Fund has a significant position in Huatai Medical, specifically the Jianxin CSI All-Share Medical Equipment and Services ETF (159891), which reduced its holdings by 400 shares in the third quarter, now holding 12,400 shares, accounting for 2.88% of the fund's net value [2] - The Jianxin CSI All-Share Medical Equipment and Services ETF (159891) has a current scale of 137 million CNY, with a year-to-date return of 6.28%, ranking 3906 out of 4216 in its category, and a one-year return of 1.71%, ranking 3744 out of 3901 [2] Group 3 - The fund manager of Jianxin CSI All-Share Medical Equipment and Services ETF (159891) is Gong Jiajia, who has been in the position for 6 years and 259 days, with the fund's total asset size at 1.056 billion CNY [3] - During Gong Jiajia's tenure, the best fund return was 44.21%, while the worst return was -53.64% [3]

Core Insights - The pharmaceutical industry is positioned as a perennial growth sector due to aging populations, urbanization, and changing disease profiles, with a strong recovery expected in 2025 after a downturn from 2022 to 2024, driven by both innovative drugs and medical devices [2][3] - Demand and supply dynamics will remain central to the pharmaceutical industry's research, with innovation cycles and policy adjustments influencing demand growth [2][3] - The supply side is characterized by limited supply and high entry barriers, with increasing participation of Chinese companies in international competition, leading to the emergence of world-class enterprises in the pharmaceutical sector [3][4] Industry Overview - The pharmaceutical industry is expected to see significant growth in 2025, driven by a resurgence in demand for innovative drugs and a recovery in domestic medical device needs, alongside strong external demand [2] - The demand for pharmaceuticals typically fluctuates with innovation and policy cycles, with a notable increase in overseas business development (BD) opportunities anticipated in 2025 [2][5] - The Chinese pharmaceutical sector is increasingly recognized globally, with local companies making strides in various niche markets [3][4] Investment Opportunities - Opportunities in innovative drugs are highlighted, particularly in oncology, metabolic diseases, and autoimmune diseases, with a focus on next-generation therapies and precision medicine [5][29] - The report emphasizes the importance of understanding the supply-demand structure and industry upgrades when conducting detailed research on specific segments within the pharmaceutical industry [4][5] - The report identifies key players and segments for investment, including CXO services, medical devices, and consumer healthcare, with specific companies recommended for increased holdings [6][5] Market Dynamics - The report outlines the competitive landscape among top global pharmaceutical companies, noting significant changes in rankings due to the performance of key products [11][19] - Chinese companies are becoming a major source of projects for multinational corporations (MNCs), with increasing transaction volumes and values in recent years [19][21] - The report discusses the strategic focus of MNCs on acquiring innovative assets and technologies to strengthen their market positions, particularly in oncology and metabolic disease sectors [12][18] Future Trends - The report anticipates breakthroughs in various therapeutic areas, including oncology, metabolic diseases, and autoimmune diseases, with a focus on innovative treatment modalities such as TCE and in vivo CAR-T [29][30] - The small nucleic acid field is expected to accelerate, with significant advancements anticipated in 2026 across multiple indications [29][30] - The report highlights the importance of collaboration and co-development models as a means for Chinese companies to enhance their global competitiveness [25][28]

Investment Rating - The report maintains an "Overweight" rating for the medical device sector [6] Core Insights - The medical device sector is entering a turning point, driven by innovation and international expansion as key growth drivers [12][29] - The overall revenue for medical device companies in the first three quarters of 2025 was 183.45 billion yuan, a year-on-year decrease of 3.90%, while the net profit excluding non-recurring items was 22.70 billion yuan, down 17.70% [8][15] - Different sub-sectors show significant divergence in performance, with high-value consumables showing a growth of 5.12%, while in vitro diagnostics faced a decline of 13.94% [8][15] Summary by Sections Medical Device Sector Overview - The medical device sector is experiencing a recovery with improved bidding processes and a gradual clearing of high-cost consumables [8][15] - The revenue growth rate for the medical device sector in Q3 2025 was 9.99%, with a net profit growth of 4.87% [9][16] High-Value Consumables - High-value consumables saw a revenue increase of 5.12% in the first three quarters of 2025, with a net profit growth of 1.18% [29] - The sector is stabilizing as it enters the post-collection phase, with significant growth driven by innovation and international expansion [29] Medical Equipment - The medical equipment sector's revenue decreased by 1.02% in the first three quarters of 2025, but showed a positive trend in Q3 with a revenue increase of 9.99% [9][16] - The sector is expected to experience structural differentiation in demand as bidding processes improve [9] Low-Value Consumables - Low-value consumables experienced a revenue decline of 0.75% in the first three quarters of 2025, with a significant drop in net profit by 21.68% [9][16] - The sector's performance is heavily influenced by international market conditions, but there is potential for recovery in Q4 2025 [9] In Vitro Diagnostics - The in vitro diagnostics sector faced a revenue decline of 13.94% in the first three quarters of 2025, with net profit down 32.20% [9][16] - The sector is expected to stabilize by the end of 2025 as negative impacts from policies begin to clear [9]

Core Viewpoint - The company reported strong financial performance for Q1-Q3 2025, with significant year-over-year growth in revenue and net profit, driven by the successful launch of high-end products and an increase in market share in key business segments [1][2]. Financial Performance - For Q1-Q3 2025, the company achieved revenue of 1.867 billion yuan, representing a year-over-year increase of 22.47%, and a net profit attributable to shareholders of 623 million yuan, up 18.02% year-over-year [1]. - In Q3 2025, the company recorded revenue of 654 million yuan, a year-over-year increase of 24.77%, and a net profit of 198 million yuan, reflecting a year-over-year growth of 6.77% [1]. Business Growth Drivers - The launch of PFA and other high-end products has led to a steady increase in market share in the coronary and peripheral business segments, with an annual market share growth of 1-2 percentage points [2]. - The overall market share for the coronary business reached approximately 20%, while the market share for tumor intervention products in the peripheral vascular business exceeded 30% [2]. Research and Development - The company increased its R&D expenditure to 255 million yuan, accounting for 13.7% of revenue, focusing on expanding clinical indications for PFA ablation catheters and developing next-generation ablation devices [3]. - The company has successfully registered its three-dimensional electrophysiology system and PFA ablation solutions in Indonesia and is progressing towards CE certification for its systems, expected in Q2 2026 and Q2 2027 [3]. Future Revenue Projections - Revenue forecasts for 2025-2027 are 2.604 billion yuan, 3.308 billion yuan, and 4.197 billion yuan, with year-over-year growth rates of 26.06%, 27.02%, and 26.87% respectively [4]. - Net profit projections for the same period are 856 million yuan, 1.096 billion yuan, and 1.398 billion yuan, with growth rates of 27.16%, 28.05%, and 27.55% respectively [4].