证券时报e公司讯，10月24日，由惠泰医疗全资子公司上海宏桐实业有限公司自主研发的HIERS 多道生 理记录仪（国械注准20243072121）获得国家药品监督管理局（NMPA）批准上市。 HIERS是一款集成多道电生理记录仪、刺激仪为一体，同时具备血氧饱和度、有创血压及无创血压测量 功能的高度集成化产品，可用于电生理射频消融术、起搏器植入术、冠脉介入，结构性心脏病等多种介 入手术的诊断及生理体征监测。 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [5]. Core Views - The company is a leading player in the cardiovascular intervention field, demonstrating significant product advantages and rapid growth. It has established a strong market presence in cardiac electrophysiology and vascular intervention devices, with a notable increase in surgical volumes and product safety and efficacy recognized in the market [6][8]. Summary by Sections Company Overview - The company, established in 2002, focuses on the research, production, and sales of cardiac electrophysiology and interventional medical devices. It has achieved significant milestones, including being the first domestic manufacturer to obtain market access for electrophysiology electrode catheters and radiofrequency ablation catheters [13][14]. Financial Performance - The company has shown robust revenue growth, with projected revenues of CNY 1.65 billion in 2023, increasing to CNY 3.61 billion by 2026. The net profit is expected to grow from CNY 534 million in 2023 to CNY 1.24 billion in 2026, reflecting a strong compound annual growth rate [4][6][23]. Product Development - The company has a comprehensive product lineup, including electrophysiology, coronary access, and peripheral intervention devices. It has obtained numerous medical device registrations and certifications, positioning itself competitively against foreign products [19][20]. Market Demand - The domestic market for cardiac electrophysiology is rapidly developing, with a significant unmet demand for treatment of tachyarrhythmias. The company is well-positioned to capture market share due to its first-mover advantage and ongoing product development [27][29]. Competitive Landscape - The company has established itself as a leading domestic manufacturer in the electrophysiology sector, with a market share that continues to grow. The competitive landscape shows a low domestic replacement rate, indicating substantial growth potential [7][20]. Strategic Initiatives - The acquisition by Mindray in 2024 is expected to enhance the company's competitive edge through improved resource integration and product performance [13][14]. The company is also focusing on expanding its product offerings in peripheral intervention and non-vascular intervention areas [8][18].

Financial Performance - The company's operating revenue for Q3 2024 reached ¥523,869,294.35, representing a year-on-year increase of 23.05%[2] - Net profit attributable to shareholders was ¥185,586,095.90, reflecting a growth of 27.24% compared to the same period last year[2] - The basic earnings per share (EPS) for the period was ¥1.91, an increase of 27.33% year-on-year[4] - The net profit excluding non-recurring gains and losses for the year-to-date was ¥180,393,121.65, up 53.15% from the previous year[8] - The net profit attributable to shareholders for the year-to-date increased by 30.97% compared to the previous year[7] - In the first three quarters of 2024, the net profit reached CNY 522,050,612.64, an increase of 31.6% compared to CNY 396,563,367.77 in the same period of 2023[18] - The operating profit for the first three quarters of 2024 was CNY 589,309,852.67, up from CNY 455,012,658.28 in 2023, reflecting a growth of 29.5%[18] - The total comprehensive income for the first three quarters of 2024 was CNY 532,643,770.84, compared to CNY 410,753,518.73 in 2023, an increase of 29.7%[19] Assets and Liabilities - Total assets as of the end of the reporting period were ¥2,803,921,171.32, an increase of 8.98% from the end of the previous year[4] - The company's total assets as of September 30, 2024, amounted to CNY 2,803,921,171.32, up from CNY 2,572,982,295.44 at the end of 2023, reflecting a growth of approximately 8.9%[16] - The company's total liabilities decreased to CNY 367,807,271.76 from CNY 610,981,432.09, a reduction of approximately 39.9%[16] - The equity attributable to shareholders reached CNY 2,388,153,365.00 as of September 30, 2024, compared to CNY 1,907,142,308.67 at the end of 2023, representing an increase of about 25.2%[16] Cash Flow - The company's cash and cash equivalents as of September 30, 2024, were approximately ¥599.61 million, down from ¥1.28 billion at the end of 2023[13] - The net cash flow from operating activities for the first three quarters of 2024 was ¥523,837,422.35, an increase from ¥484,558,878.95 in the same period of 2023, representing a growth of approximately 8.5%[21] - Total cash inflow from investment activities was ¥362,194,716.19, significantly lower than ¥1,198,081,615.15 in the previous year, indicating a decline of about 69.7%[21] - The net cash flow from investment activities was -¥877,740,822.75, compared to -¥47,913,952.10 in the same period of 2023, reflecting a substantial increase in cash outflow[21] - Cash flow from financing activities resulted in a net outflow of -¥320,399,560.82, worsening from -¥238,959,527.67 in the previous year[22] - The total cash and cash equivalents at the end of the period stood at ¥599,613,654.94, down from ¥451,530,046.17 in the same period last year, indicating a decrease of approximately 32.8%[22] Shareholder Information - The total number of common shareholders at the end of the reporting period was 3,995[9] - The largest shareholder, Shenzhen Mindray Technology Co., Ltd., holds 20,474,450 shares, accounting for 21.04% of the total shares[10] - The second-largest shareholder, Cheng Zhenghui, holds 18,153,056 shares, representing 18.65% of the total shares[10] - The top ten shareholders include various investment funds, with the largest fund holding 4,064,287 shares, or 4.18%[10] - There are no significant changes in the shareholding structure due to margin trading activities during the reporting period[12] Research and Development - Research and development (R&D) expenses totaled ¥68,962,644.09, accounting for 13.16% of operating revenue, a decrease of 0.79 percentage points from the previous year[4] - Research and development expenses increased to CNY 202,856,157.35 in 2024 from CNY 168,316,723.06 in 2023, marking a rise of 20.5%[18] Operational Updates - The company has not reported any new strategies or significant operational changes in the current quarter[13] - The report does not indicate any ongoing or planned mergers or acquisitions[13] - There are no new product launches or technological developments mentioned in the current report[13] - The company has not provided specific future guidance or performance outlook in the current report[13] Revenue and Costs - Total operating revenue for the first three quarters of 2024 reached CNY 1,524,828,925.89, an increase from CNY 1,213,709,560.43 in the same period of 2023, representing a growth of approximately 25.6%[17] - Total operating costs for the first three quarters of 2024 were CNY 970,562,004.58, compared to CNY 822,000,174.52 in 2023, indicating an increase of about 18.1%[17] - Total revenue for the first three quarters of 2024 was CNY 1,664,312,497.91, compared to CNY 1,338,983,063.61 in 2023, indicating a growth of 24.3%[20] Employee Compensation - The company paid cash for employee compensation amounting to ¥424,613,716.97, which is an increase from ¥328,541,327.58 in the same period of 2023, reflecting a growth of about 29.2%[21]

公司董事会对褚晓佳女士在公司持续督导期间所做出的贡献表示衷心感谢！ 特此公告。 深圳惠泰医疗器械股份有限公司董事会 2024 年 10 月 10 日 附件：赵岩先生简历 赵岩，保荐代表人，现任中信证券投资银行管理委员会医疗健康行业组高级 副总裁。赵岩先生 2015 年开始从事投资银行业务，曾负责或参与了惠泰医疗、 金迪克、思睦瑞科、中和药业等 IPO 项目；利亚德再融资、三诺生物可转债、 益丰药房可转债、银星能源再融资等再融资类项目。 证券代码：688617 证券简称：惠泰医疗 公告编号：2024-047 深圳惠泰医疗器械股份有限公司 关于变更持续督导保荐代表人的公告 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。 深圳惠泰医疗器械股份有限公司（以下简称"公司"）于近日收到公司保荐 机构中信证券股份有限公司（以下简称"中信证券"）出具的《关于更换保荐代 表人的函》。 由于公司原保荐代表人褚晓佳女士已离职，中信证券现委派保荐代表人赵岩 先生（简历见附件）接替褚晓佳女士工作，继续履行持续督导职责。本次保荐代 表人变更后，公司首 ...

Investment Rating - The report initiates coverage with a "Buy" rating for the company [1] Core Views - The company is a leading domestic player in electrophysiology and vascular intervention, with a diversified product portfolio and strong channel expansion [1] - The acquisition by Mindray Medical is expected to enhance the company's R&D and global sales capabilities [1] - The electrophysiology market is highly promising, with significant potential for domestic substitution [1] - The company's vascular intervention platform is steadily improving, with rapid growth in peripheral and non-vascular intervention segments [1] Financial Performance - Revenue is projected to grow from RMB 2,083 million in 2024 to RMB 3,578 million in 2026, with a CAGR of 26.2%, 30.9%, and 31.2% respectively [1] - Net profit attributable to shareholders is expected to increase from RMB 707 million in 2024 to RMB 1,276 million in 2026, with a CAGR of 32.4%, 35.1%, and 33.7% respectively [1] - EPS is forecasted to rise from RMB 7.26 in 2024 to RMB 13.11 in 2026 [1] Electrophysiology Business - The company's electrophysiology business revenue grew from RMB 97 million in 2017 to RMB 368 million in 2023, with a CAGR of 24.86% [1] - The company completed approximately 7,500 3D electrophysiology surgeries in H1 2024, a year-on-year increase of over 100% [1] - The domestic electrophysiology market is expected to grow from RMB 6.58 billion in 2021 to RMB 15.73 billion in 2025, with a CAGR of 24.34% [1] Vascular Intervention Business - The company's vascular intervention business revenue surged from RMB 10 million in 2017 to RMB 791 million in 2023, with a CAGR of 105.77% [1] - The company's vascular intervention products are now used in nearly 4,000 hospitals, with peripheral product adoption increasing by over 30% and coronary product adoption by nearly 20% in H1 2024 [1] - The domestic PCI device market is projected to grow from USD 1.27 billion in 2021 to USD 3.75 billion in 2030, with a CAGR of 12.78% [1] Peripheral and Non-Vascular Intervention - The company's peripheral intervention business has grown rapidly since its launch in 2019, with a CAGR of 67.05% from 2019 to 2023 [1] - The domestic peripheral intervention market is expected to grow from RMB 3.5 billion in 2015 to RMB 18.6 billion in 2023, with a CAGR of 23.22% [1] - The company is actively developing non-vascular intervention products, aiming to create new growth drivers [1] R&D and Innovation - The company's R&D expenses increased from RMB 50 million in 2017 to RMB 238 million in 2023, with a CAGR of 29.70% [1] - The company has 479 R&D personnel, accounting for 19.78% of total employees, and has obtained 91 domestic medical device registration certificates [1] - Several key R&D projects, including pulse ablation products and high-density catheters, are in the registration review stage [1] Market and Industry Trends - The electrophysiology market is dominated by foreign players, with Johnson & Johnson, Abbott, and Medtronic holding 86.9% of the market share in 2020 [1] - The domestic electrophysiology market is expected to benefit from centralized procurement policies, accelerating the substitution of domestic products [1] - The company's products are competitive with imported brands in terms of performance, and the company is well-positioned to capitalize on the growing market [1]

2024 年 09 月 19 日，深圳惠泰医疗器械股份有限公司（以下简称"公司"） 全资子公司湖南埃普特医疗器械有限公司获得一项医疗器械注册证，具体情况如 下： 证券代码：688617 证券简称： 惠泰医疗 公告编号：2024-046 深圳惠泰医疗器械股份有限公司 关于自愿披露取得医疗器械注册证的公告 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。 上述医疗器械注册证的取得，有利于丰富公司的产品种类，扩充公司在外周 领域产品布局，不断满足多元化的临床需求，进一步增强公司的核心竞争能力。 三、风险提示 一、产品基本信息 | 产品名称 | 栓塞弹簧圈 | | --- | --- | | 注册分类 | 第三类无源医疗器械 | | 注册证编号 | 国械注准 20243131782 | | 预期用途 | 该产品用于外周动脉瘤、动静脉畸形和动静脉瘘的栓塞。 | 二、对公司的影响 上述产品后续需取得医疗器械生产许可证之后方可上市销售，实际销售情况 取决于未来市场的推广效果，公司目前尚无法预测上述产品对公司未来营业收入 的影响，敬请广大投 ...

% 1 个月 3 个月 12 个月 相对收益 -2.7 15.5 44.1 绝对收益 -7.9 5.1 28.7 注：相对收益与沪深 300 相比 证券研究报告 2024 年 09 月 13 日 湘财证券研究所 公司研究 惠泰医疗（688617.SH）首次覆盖 电生理业务高速增长，海内外业绩持续向好 核心要点： 公司评级：增持（首次覆盖） 近十二个月公司表现 -20% 0% 20% 40% 60% 惠泰医疗 沪深300 分析师：聂孟依 证书编号：S0500524040001 Tel：(8621) 50299667 Email：nmy06967@xcsc.com 地址：上海市浦东新区银城路 88 号 中国人寿金融中心 10 楼 ❑ 2024 年 H1 业绩稳健增长 2024 年上半年，公司实现营业收入 10.01 亿元，较上年同期增长 27.03%； 实现归属于上市公司股东的净利润 3.43 亿元，较上年同期增长 33.09%；归 属于上市公司股东的扣除非经常性损益的净利润 3.28 亿元，较上年同期增 长 35.20%。2024H1 销售毛利率约 72.75%，销售净利率约 33.77%。公司业 绩稳健，连续 ...

中信证券股份有限公司 关于深圳惠泰医疗器械股份有限公司 2024 年半年度持续督导跟踪报告 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为深圳惠 泰医疗器械股份有限公司（以下简称"惠泰医疗"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，并出具本持续督导半年度跟踪报告。 （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）核查公司与控股股东、实际控制人及其关联方之间是否存在资金往来 明细及相关内部审议文件、信息披露文件； （4）查阅公司募集资金管理相关制度、募集资金使用信息披露文件和决策 程序文件、募集资金专户银行对账单、募集资金使用明细账； 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 ...

证券代码：688617 证券简称：惠泰医疗 公告编号：2024-045 深圳惠泰医疗器械股份有限公司 关于参与 2024 年半年度科创板医疗器械及医疗设备 专场集体业绩说明会的公告 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 9 月 19 日(星期四)14:00-16:00 会 议 召 开 地 点 ： 上 海 证 券 交 易 所 上 证 路 演 中 心 （ 网 址 ： http://roadshow.sseinfo.com/） 会议召开方式：网络文字互动 投资者可于 2024 年 9 月 18 日(星期三)16:00 前通过邮件、电话等形式将 需要了解和关注的问题提前提供给公司。公司将在说明会上对投资者普遍关注的 问题进行回答。 深圳惠泰医疗器械股份有限公司（以下简称"公司"）已于 2024 年 8 月 23 日发布公司 2024 年半年度报告，为便于广大投资者更全面深入地了解公司 2024 年半年度经营成果、财务状况，公司参与了上交所于 2024 年 9 月 19 日(星期 ...

证券代码：688617 证券简称： 惠泰医疗 公告编号：2024-043 深圳惠泰医疗器械股份有限公司 第二届监事会第十五次会议决议公告 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。 深圳惠泰医疗器械股份有限公司（以下简称"公司"）第二届监事会第十四 次会议于 2024 年 9 月 6 日以现场结合通讯方式召开，会议应到监事 3 人，实到 监事 3 人，出席监事占应出席人数的 100%。本次监事会会议的召集、召开程序 符合《中华人民共和国公司法》等有关法律、行政法规、规范性文件和《深圳惠 泰医疗器械股份有限公司章程》的规定，会议决议合法有效。经与会监事审议和 表决，会议形成决议如下： 一、审议通过《关于增加2024年度日常关联交易预计的议案》 经审议，监事会认为，本次增加 2024 年度日常关联交易事项遵循了市场公 允、合理的原则，公司对上述日常关联交易的表决程序合法，不存在损害公司及 其他股东特别是中小股东利益的情形。 具体内容详见公司同日在上海证券交易所网站(www.sse.com.cn)披露的《深 圳惠泰医疗器械股 ...