相关ETF ● 市盈率: 247.56倍 资金流向：最新份额为27.4亿份，增加了2250.0万份，主力资金 净流入1167.4万元。 估值分位: 70.35% 基金有风险,投资需谨慎. 科创100ETF华夏 (产品代码: 588800) ★ 跟踪：上证科创板100指数 近五日涨跌: 5.05% ...

（文章来源：证券日报） 证券日报网讯 7月29日晚间，惠泰医疗发布公告称，公司2025年第二次临时股东会审议通过了《关于公 司放弃部分优先购买权、向控股子公司增资构成与关联方共同投资暨关联交易的议案》。 ...

深圳惠泰医疗器械股份有限公司 2025年第二次临时股东会决议公告 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。 证券代码：688617 证券简称：惠泰医疗 公告编号：2025-036 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 7 月 29 日 （二） 股东会召开的地点：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 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 92 | | --- | --- | | 普通股股东人数 | 92 | | 2、出席会议的股东所持有的表决权数量 | 60,859,885 | | 普通股股东所持有表决权数量 | 60,859,885 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 47.9542 | | 例（%） | | | 普通股股东所持有表决权数量占公司表决权数量的比例（%） | 47.95 ...

北京市嘉源律师事务所 关于深圳惠泰医疗器械股份有限公司 2025 年第二次临时股东会的法律意见书 71 W ِ 师事务所 臺 源 信 IIA YUAN LAW OFFICES 西城区复兴门内大街 158 号远洋大厦 4 楼 中国 · 北京 x : YUAN LAW OFFICES 北京 BEIJING·上海 SHANGHAI·深圳 SHENZHEN·香港 HONG KONG·广州 GUANGZHOU·西安 XI'AN 致:深圳惠泰医疗器械股份有限公司 北京市嘉源律师事务所 关于深圳惠泰医疗器械股份有限公司 2025年第二次临时股东会的法律意见书 重大遗漏,并承担相应法律责任。 基于前述,本所律师根据相关法律法规的要求,按照律师行业公认的业务标 准、道德规范和勤勉尽责的精神,就本次股东会的相关事项出具法律意见如下; 嘉源(2025)-04-557 北京市嘉源律师事务所(以下简称"本所")接受深圳惠泰医疗器械股份有 限公司(以下简称"公司")的委托,根据《中华人民共和国公司法》(以下简称 "《公司法》")《上市公司股东会规则》(以下简称"《股东会规则》"等现行有效 的法律、行政法规、部门规章、规范性文件(以下简称 ...

简历显示，胡洁女士:中国国籍,金融学硕士。2006年6月加入华宝基金管理有限公司,先后在交易部、产品开发部和量化投资部工作,现任指数投资总监、指数 研发投资部总经理。2012年10月至2018年11月任华宝上证180成长交易型开放式指数证券投资基金联接基金基金经理,2012年10月至2019年1月任上证180成长 交易型开放式指数证券投资基金基金经理,2015年5月至2020年12月任华宝中证医疗指数分级证券投资基金基金经理,2015年6月至2018年8月任华宝中证1000指 数分级证券投资基金基金经理,2016年8月起任华宝中证军工交易型开放式指数证券投资基金基金经理,2017年1月起任华宝标普中国A股红利机会指数证券投 资基金(LOF)基金经理,2017年7月起任华宝中证银行交易型开放式指数证券投资基金基金经理,2018年11月起任华宝中证银行交易型开放式指数证券投资基金 联接基金基金经理,2019年1月至2021年3月任华宝标普中国A股质量价值指数证券投资基金(LOF)基金经理,2019年5月起任华宝中证医疗交易型开放式指数证 券投资基金基金经理,2019年7月起任华宝中证科技龙头交易型开放式指数证券投 ...

Group 1 - The Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index (000683) increased by 0.73% as of July 28, 2025, with notable gains from companies such as Junshi Biosciences (688180) up 3.74% and Zai Lab (688266) up 3.30% [1] - The recent outbreak of Chikungunya fever in Guangdong Province has led to nearly 3,000 new local cases, primarily concentrated in Foshan and Guangzhou, with a cumulative total exceeding 4,800 confirmed cases [1] - The Sci-Tech Biopharmaceutical ETF (588250) rose by 0.82%, with the latest price reported at 1.23 yuan [1] Group 2 - Short-term focus on beneficiaries of the Chikungunya fever outbreak includes the vaccine sector, which may see valuation recovery due to market sentiment stabilizing despite anticipated performance pressure in 2024 [2] - The pharmacy sector is adapting to changes in medical insurance and regulatory environments, with companies like Yao Yi Tang exploring new business models, such as health and beauty products, to enhance profitability [2] - The diagnostics sector may experience renewed demand due to the Chikungunya fever, following the normalization of COVID-19 related demand [2] Group 3 - As of June 30, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index accounted for 50.3% of the index, including companies like United Imaging Healthcare (688271) and BeiGene (688235) [3]

Core Viewpoint - The article highlights the strong performance and liquidity of the Science and Technology Innovation (Sci-Tech) Pharmaceutical ETF managed by Harvest, indicating significant growth in both trading volume and fund shares over the past year [2][4]. Group 1: Liquidity and Trading Performance - The Sci-Tech Pharmaceutical ETF by Harvest recorded a turnover rate of 15.19% during trading, with a transaction volume of 30.598 million yuan, reflecting active market participation [2]. - As of July 25, the average daily trading volume over the past week was 46.0799 million yuan, ranking first among comparable funds [2]. - The fund's shares increased by 67.5 million over the past year, also ranking first among comparable funds [2]. Group 2: Fund Performance and Returns - The net value of the Sci-Tech Pharmaceutical ETF increased by 52.17% over the past year, placing it in the top 16.41% among 2,938 index equity funds [2]. - Since its inception, the fund achieved a maximum monthly return of 23.29%, with the longest consecutive monthly gains lasting 5 months and a maximum cumulative increase of 23.50% [2]. - The average return during the months of increase was 7.43% [2]. Group 3: Key Holdings and Market Outlook - As of June 30, 2025, the top ten weighted stocks in the Shanghai Stock Exchange Sci-Tech Innovation Board Biopharmaceutical Index accounted for 50.3% of the index, with leading companies including United Imaging Healthcare, BeiGene, and Huatai Medical [2][4]. - Based on the current fundamentals of the pharmaceutical sector, which has undergone four years of adjustment, the market outlook suggests a positive trend for innovative drugs and the overall pharmaceutical sector [4][5]. - The recommendation is to focus on innovative drugs as the primary investment theme, while also considering sectors like CRO&CDMO and specialty raw materials that are expected to perform well [5].

Summary of Medical Device Industry Conference Call Industry Overview - The medical device sector is expected to improve in the second half of the year, with positive bidding data for three consecutive quarters, indicating potential performance growth for companies like Mindray and United Imaging after inventory clearance [1][4]. - High-value consumables are projected to see revenue and profit growth of 15%-20% for companies such as New Mai, Nanwei, and Anjias, benefiting from policy easing [1][5]. - The innovative industry chain and drug sector, particularly companies like Baile and Heng Rui, are noteworthy for their overseas instruments and drugs, with CXO companies like WuXi AppTec exceeding expectations in their mid-year reports [1][6]. Key Insights - The medical device equipment sector is likely to see performance improvement in the second half of the year, despite short-term inventory pressures [4]. - The recent increase in attention towards the medical device sector is attributed to improved mid-year performance expectations and the anticipated optimization of the 11th batch of centralized procurement policies [3]. - The domestic market's medical insurance provides a solid growth foundation for medical device companies, while the overseas market, particularly non-US markets, presents lower entry barriers and long-term growth potential [12][13]. Investment Strategy - The investment strategy for the second half of the year should focus on companies with strong mid-year performance and long-term growth potential, such as Maipu, Shanwaishan, and Feimait, as well as leading high-value consumables companies like Huitai [7][8]. - Companies like Yaming Kangda and Hailan Yin are highlighted for their excellent mid-year performance and favorable PEG ratios, indicating potential investment value [9]. Market Dynamics - The medical device sector has experienced a gradual recovery from policy adjustments, with a positive long-term outlook as the most challenging periods appear to be over [10]. - The high-value consumables centralized procurement process is expected to become more moderate, which could positively impact leading companies in the sector [10][11]. - The overall performance of the medical device sector is projected to achieve revenue growth of 15%-20% and profit growth of around 20% from 2025 to 2027, as the industry stabilizes [18]. Technological Developments - The electrophysiology field is rapidly advancing, particularly with the development of PFA technology, which is crucial for the 3D mapping systems [27][28]. - The upcoming renewal of the Fujian electrophysiology alliance's centralized procurement is expected to have a positive impact on the industry [29]. Challenges and Opportunities - Companies in the high-value consumables sector may face uncertainties due to centralized procurement, but a gradual easing of these policies could improve valuations and market sentiment [39]. - Heartbeat Medical is navigating challenges from national insurance price adjustments but is expected to see steady growth in its overseas business [38]. Conclusion - The medical device industry is poised for growth, driven by policy improvements, technological advancements, and a focus on high-value consumables. Companies with strong fundamentals and innovative products are likely to attract investor interest as the market stabilizes and expands.

Summary of Key Points from the Conference Call Industry Overview - The medical device sector is experiencing accelerated approval policies, which are beneficial for the industry, driven by innovation, internationalization, and mergers and acquisitions [1][2] - Companies like Xinmai Medical, Nanwei Medical, and Chunli Medical are actively transforming and showing significant growth in international business, contributing to valuation recovery in the sector [1][2] Core Insights and Arguments - The optimization of centralized procurement policies is shifting focus from low prices to supporting innovative medical devices, which is expected to benefit the development and valuation of related companies [2][5] - The orthopedic industry is seeing a shift towards increased domestic production rates and concentration among leading companies, with significant growth potential in overseas markets [3][10] - Specific companies such as Xinmai Medical and Nanwei Medical are experiencing valuation recovery, with projected valuations around 22-25 times for 2025 [4][6] Future Opportunities in the Medical Device Industry - Future opportunities in the medical device industry are primarily in innovation, internationalization, and frequent mergers and acquisitions [5][7] - High-value consumables are expected to benefit from policy support, particularly in areas like aortic stents, digestive interventions, and minimally invasive surgical consumables [7][9] Performance Expectations for 2025 - The medical device sector is expected to show positive growth across various sub-sectors in 2025, with companies like Huatai Medical and Weidian Medical anticipated to see performance turning points [8][9] - Companies such as Union Medical and Mindray are expected to achieve significant growth in the third quarter, driven by improved bidding data and product performance [8][9] Specific Company Recommendations - Recommended companies include Xinmai Medical, Nanwei Medical, and Guichuang Tongqiao, which are expected to perform well due to their growth potential and favorable market conditions [6][20] - In the Hong Kong market, companies like Guichuang Tongqiao and Weikang Medical are highlighted for their strong performance and innovation capabilities [18][19] Notable Trends and Developments - The IVD sector is facing challenges due to previous rounds of centralized procurement, but there is optimism for gradual improvement in performance in the latter half of the year [28][29] - The high-value consumables sector, particularly in electrophysiology, is expected to see significant growth, with companies like Huatai Medical benefiting from product launches and market acceptance [26][27] Conclusion - The medical device industry is poised for recovery and growth, driven by policy support, innovation, and international expansion. Investors are encouraged to focus on companies demonstrating strong growth potential and favorable market dynamics [1][5][20]

Investment Rating - The report maintains a positive outlook on innovative drugs and the industry chain, recommending continuous attention to this sector [1][5][24]. Core Viewpoints - The report highlights the sustained high prosperity of innovative drugs, with a focus on companies likely to see a revaluation, such as Jiangsu Heng Rui Medicine, Hansoh Pharmaceutical Group, 3SBio, and Huadong Medicine. It also emphasizes Biopharma/Biotech companies with innovative pipelines entering a growth phase, including PATEO, Innovent Biologics, BeiGene, and others [1][5][24]. - The A-share pharmaceutical sector outperformed the market in the third week of July 2025, with a 4.0% increase compared to a 0.7% rise in the Shanghai Composite Index. The report notes that the premium of the pharmaceutical sector relative to all A-shares is currently at a normal level of 86.8% [7][25][16]. - The Hong Kong pharmaceutical sector showed outstanding performance, with the Hang Seng Healthcare index rising by 12.0% and the Hong Kong Biotechnology index increasing by 13.6% during the same period [21][25]. Summary by Sections 1. Continuous Focus on Innovative Drugs and Industry Chain - The report emphasizes the ongoing high demand for innovative drugs and recommends companies such as Heng Rui Medicine, Hansoh Pharmaceutical, and others for potential investment [1][5][24]. 2. Performance of A-Shares Pharmaceutical Sector - In the third week of July 2025, the A-share pharmaceutical sector led with a 4.0% increase, outperforming the overall market. Notable sub-sectors included chemical raw materials and chemical preparations, with gains of 7.0% and 6.8% respectively [7][11][25]. 3. Performance of Hong Kong and U.S. Pharmaceutical Sectors - The Hong Kong pharmaceutical sector performed exceptionally well, with significant gains in the Hang Seng Healthcare and Biotechnology indices. In contrast, the U.S. pharmaceutical sector underperformed, with a decline of 2.5% in the S&P 500 Healthcare Select Sector [21][25].