来源：新浪证券-红岸工作室 2月2日，海泰新光跌1.01%，成交额1.17亿元，换手率2.04%，总市值56.22亿元。 异动分析 医疗器械概念+人民币贬值受益+专精特新 1、公司始终致力于将光学技术与医疗器械行业的前沿应用趋势相结合，研究发展高性能的尖端内窥镜 器械产品。目前，公司是国内少有的具备从核心部件、关键设备到系统集成的行业垂直整合能力的企 业。 2、根据2024年年报，公司海外营收占比为69.12%，受益于人民币贬值。 3、专精特新"小巨人"企业是全国中小企业评定工作中最高等级、最具权威的荣誉称号，是指专注于细 分市场、创新能力强、市场占有率高、掌握关键核心技术、质量效益优的排头兵企业，对于提升中小企 业自身的竞争力，以及提升产业链、供应链稳定性和竞争力具有重大意义。公司已入选工信部专精特新 小巨人企业名单。 资金分析 今日主力净流入-772.68万，占比0.07%，行业排名100/135，连续2日被主力资金减仓；所属行业主力净 流入-6.62亿，连续3日被主力资金减仓。 区间今日近3日近5日近10日近20日主力净流入-772.68万-837.92万-850.46万-1696.85万-747.98 ...

证券代码：688677 证券简称：海泰新光 公告编号：2026-003 | 回购方案首次披露日 | 2025/3/5 | | | | | --- | --- | --- | --- | --- | | 回购方案实施期限 | 2025 年 3 月 3 3 月 2 | 日~2026 | 年 | 日 | | 预计回购金额 | 5,000万元~10,000万元 | | | | | 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 | 144.76万股 | | | | | 累计已回购股数占总股本比例 | 1.2076% | | | | | 累计已回购金额 | 5,258.01万元 | | | | | 实际回购价格区间 | 28.53元/股~51.95元/股 | | | | 一、回购股份的基本情况 公司于 2025 年 3 月 3 日召开第四届董事会第三次会议，审议通过了《关于以 集中竞价交易方式回购公司股份方案的议案》（以下简称"本次回购方案"），同意 公司以自有资金及回购专项 ...

证券日报网讯1月28日，海泰新光（688677）在互动平台回答投资者提问时表示，2026年公司将完成重 点科室产品补全，预计获批上市的产品种类较多，包括3D内窥镜系统、特殊光源、专科小镜种、手术 器械、一次性内窥镜以及配套外科设备等。 ...

每经AI快讯，海泰新光（688677.SH）1月28日在投资者互动平台表示，2026年公司将完成重点科室产 品补全，预计获批上市的产品种类较多，包括3D内窥镜系统、特殊光源、专科小镜种、手术器械、一 次性内窥镜以及配套外科设备等。 （文章来源：每日经济新闻） ...

Investment Rating - The industry investment rating is maintained at "Overweight" [2] Core Insights - The report highlights that the pharmaceutical sector is showing resilience, with a focus on capturing opportunities from companies that can deliver on their growth potential. The report suggests that investors should continue to allocate to pharmaceutical bottom assets as fund holdings have returned to a low level [3][10] - The report indicates that the A-share funds' top ten holdings in the pharmaceutical sector account for 9.15%, a decrease of 1.93 percentage points from the previous period. Excluding pharmaceutical funds, the allocation drops to 3.43%, down 1.39 percentage points [3][10] - The report emphasizes the strong performance of certain pharmaceutical companies, particularly in innovative drugs and upstream life sciences, with notable profit growth forecasts for companies like Zhaoyan New Drug and Kangchen Pharmaceutical [3][10] Summary by Sections Market Dynamics - The pharmaceutical sector has outperformed the broader market, with a return of 6.66% compared to the CSI 300's 1.57% since the beginning of 2026, indicating a 5.10 percentage point advantage [14] - Recent performance shows a mixed trend, with pharmaceutical commercial, traditional Chinese medicine, and medical devices showing positive growth, while chemical pharmaceuticals and medical services have declined [10][14] Valuation Metrics - The current valuation of the pharmaceutical sector is at 23.3 times PE based on 2026 earnings forecasts, which is a premium of 11.3% compared to the overall A-share market (excluding financials) at approximately 21.0 times PE [17] - Using the TTM valuation method, the pharmaceutical sector is valued at 30.3 times PE, which is below its historical average of 34.9 times PE, indicating a relative premium of 11.2% over the broader market [17] Recommended Stocks - Key recommended stocks include WuXi Biologics, Sangfor Technologies, Tigermed, and others, with an average increase of 13.41% in January, outperforming the pharmaceutical sector by 6.74 percentage points [26][27] - The report notes that the top ten pharmaceutical stocks held by public funds include companies like Hengrui Medicine and WuXi AppTec, with a strong preference for innovative drugs and leading players in niche markets [3][10]

Core Viewpoint - The company, Haitai Xinguang, has products exported to Europe, including Germany, Italy, the Netherlands, and the UK, primarily optical components used in beauty medical and industrial equipment [1] Group 1: Export Details - The company's sales to Europe are conducted through direct exports from domestic entities to customers [1] - Sales to Europe currently account for a small portion of the company's overall business, not exceeding 3% [1]

Core Viewpoint - The company, Haitai Xinguang (688677), exports products to Europe, including countries such as Germany, Italy, the Netherlands, and the UK, primarily focusing on optical components used in beauty medical and industrial equipment [1] Group 1: Export Details - The company's sales to Europe are conducted directly from domestic entities to customers [1] - Sales to Europe currently represent a small portion of the company's overall business, accounting for less than 3% [1]

Core Viewpoint - The company, Haitai Xinguang (688677), has products exported to Europe, including countries such as Germany, Italy, and the Netherlands, as well as the UK. The main products exported are optical components used in beauty medical and industrial equipment [1]. Group 1 - The company's sales to Europe are primarily direct exports from domestic entities to customers [1]. - The contribution of European sales to the company's overall business is minimal, accounting for less than 3% [1].

Investment Rating - The report maintains an "Overweight" rating for the pharmaceutical and biotechnology industry [2]. Core Insights - The report highlights the ongoing performance of the pharmaceutical sector, with a focus on the upcoming annual earnings forecasts and the potential for exceeding expectations. The sector has shown a return of 7.08% since the beginning of 2026, outperforming the CSI 300 index by 4.88% [8][12]. - Key catalysts in the industry include significant partnerships and acquisitions, such as AbbVie’s $6.5 billion upfront payment for RC148 and a $1 billion collaboration between Eli Lilly and NVIDIA to accelerate AI drug development [4][10]. - The report emphasizes the importance of innovative drug chains and the AI+ theme, suggesting that these areas will continue to attract investment and yield positive results [4][5]. Summary by Sections Industry Overview - The pharmaceutical sector's total market capitalization is approximately 74,744.70 billion yuan, with a circulating market value of 68,522.64 billion yuan [2]. - The report notes that the pharmaceutical sector is currently valued at 23.4 times PE based on 2026 earnings forecasts, which is a premium of 13.7% compared to the overall A-share market [15]. Market Dynamics - The report indicates that the pharmaceutical sector has experienced a mixed performance, with medical services up by 3.29% while other segments like medical devices and traditional Chinese medicine have seen declines [8][12]. - The report also mentions that the market is transitioning to a more rational and steady growth phase, moving away from the initial volatility seen at the start of the year [4]. Key Company Performances - Notable companies such as WuXi Biologics, Sangamo Therapeutics, and Tigermed have been highlighted for their strong performance, with WuXi Biologics showing a significant increase of 26.53% in January [24]. - The report suggests continued monitoring of companies involved in AI and small nucleic acid technologies, as they are expected to lead future growth in the sector [5][9]. Investment Recommendations - The report recommends focusing on companies that are well-positioned within the innovative drug chain and AI+ sectors, as these are anticipated to provide substantial returns [4][5]. - Specific stocks recommended include WuXi Biologics, Sangamo Therapeutics, and Tigermed, which have shown promising growth trajectories [24].

Core Viewpoint - The company, Qindao Haitai New Light Technology Co., Ltd., is focused on integrating optical technology with cutting-edge applications in the medical device industry, particularly in high-performance endoscope products [2] Group 1: Company Performance - As of September 30, 2025, the company achieved a revenue of 448 million yuan, representing a year-on-year growth of 40.47%, and a net profit attributable to shareholders of 136 million yuan, with a growth of 40.03% [7] - The company's main business revenue composition includes 64.86% from medical endoscope devices, 21.63% from optical products, 13.09% from maintenance services, and 0.42% from leasing [7] - The company has a total market capitalization of 5.472 billion yuan, with a trading volume of 124 million yuan and a turnover rate of 2.29% on January 7 [1] Group 2: Market Position and Recognition - The company has been recognized as a "specialized, refined, distinctive, and innovative" small giant enterprise, which is a prestigious title in China for small and medium-sized enterprises that excel in niche markets and possess strong innovation capabilities [3] - The company has a significant overseas revenue share of 69.12%, benefiting from the depreciation of the Chinese yuan [3] Group 3: Technical Analysis - The average trading cost of the company's shares is 45.92 yuan, with the stock price approaching a resistance level of 46.77 yuan, indicating potential for a price correction if this level is not surpassed [6] - The main capital inflow for the day was 745,700 yuan, with a net inflow of 19.92 million yuan over the past three days, indicating a positive trend in investor interest [5]