Investment Rating - The investment rating for the company is "Buy" [8] Core Views - The company has shown strong growth in its endoscope and optical businesses, with a revenue increase of 40.47% year-on-year for the first three quarters of 2025, reaching 448 million yuan, and a net profit increase of 40.03%, amounting to 136 million yuan [4][5] - The endoscope business grew by 40% in the first three quarters of 2025, with a significant increase of over 100% in the third quarter compared to the same period in 2024 [5] - The optical business also experienced over 30% growth, driven by collaborations with domestic and international diagnostic equipment companies and the expansion into other optical applications [5] Financial Performance - For 2025, the company is projected to achieve revenues of 602 million yuan, 724 million yuan in 2026, and 869 million yuan in 2027, with year-on-year growth rates of 35.89%, 20.30%, and 20.11% respectively [6] - The net profit attributable to the parent company is expected to be 184 million yuan in 2025, 227 million yuan in 2026, and 281 million yuan in 2027, with growth rates of 36.22%, 22.97%, and 23.78% respectively [6] - The company's price-to-earnings (P/E) ratio is projected to decrease from 29.45 in 2025 to 19.35 in 2027, indicating improving valuation metrics [6]

每经AI快讯，海泰新光1月5日晚间发布公告称，截至2025年12月31日，青岛海泰新光科技股份有限公 司通过上海证交易所交易系统以集中竞价交易方式回购公司股份约145万股，占公司总股本约1.2亿股的 比例为1.2076%，回购成交的最高价为51.95元/股，最低价为28.53元/股，支付的资金总额为人民币 52580091.9。 每经头条（nbdtoutiao）——秒光！1499元飞天茅台上线即空，i茅台App冲上苹果购物榜第一，10万用 户已下单！经销商同价做回馈，1000箱很快卖完 （记者 王晓波） ...

证券代码：688677 证券简称：海泰新光 公告编号：2026-002 青岛海泰新光科技股份有限公司 实际控制人的一致行动人减持股份结果公告 本公司董事会、全体董事及相关股东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： 股东持有的基本情况 本次减持计划实施前，股东马敏女士直接持有青岛海泰新光科技股份有限公 司（以下简称"公司"）股份 1,008,000 股，占公司总股本的 0.8409%。马敏女 士与公司控股股东、实际控制人郑安民先生为一致行动人。郑安民先生直接持有 公司股份 14,700,000 股，其一致行动人青岛普奥达企业管理服务有限公司（以 下简称"普奥达"）直接持有公司股份 15,288,000 股、FOREAL SPECTRUM, INC. （以下简称"飞锐"）直接持有公司股份 14,000,000 股、青岛杰莱特企业管理服 务合伙企业（有限合伙）（以下简称"杰莱特"）直接持有公司股份 1,274,000 股、辜长明先生直接持有公司股份 168,000 股。上述一致行动人合计持有公司股 份 46,438,000 ...

重要内容提示： | 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贷款资金通过上海证券交易所交易系统以集中竞价交 易方式回购公司已发行的部分人民币 ...

格隆汇1月5日丨海泰新光(688677.SH)公布，截至2025年12月31日，青岛海泰新光科技股份有限公司通 过上海证交易所交易系统以集中竞价交易方式回购公司股份144.76万股，占公司总股本的比例为 1.2076%，回购成交的最高价为51.95元/股，最低价为28.53元/股，支付的资金总额为人民币5258万（不 含印花税、交易佣金等交易费用）。 ...

格隆汇1月5日丨海泰新光(688677.SH)公布，公司于2026年1月5日收到股东马敏女士发来的《关于股份 减持结果的告知函》，马敏女士于2025年10月28日～2026年1月5日通过集中竞价交易方式减持公司股份 252,000股，占公司总股本的0.2102%,本次减持计划实施完毕。 ...

海泰新光公告称，公司于2025年3月3日审议通过回购方案，预计回购5000万元-10000万元股份用于员工 持股计划或股权激励，回购期限至2026年3月2日。截至2025年12月31日，累计回购144.76万股，占总股 本1.2076%，累计回购金额5258.01万元，回购价格区间为28.53元/股-51.95元/股。 ...

格隆汇1月5日丨海泰新光(688677.SH)公布，截至2025年12月31日，青岛海泰新光科技股份有限公司通 过上海证交易所交易系统以集中竞价交易方式回购公司股份144.76万股，占公司总股本的比例为 1.2076%，回购成交的最高价为51.95元/股，最低价为28.53元/股，支付的资金总额为人民币5258万（不 含印花税、交易佣金等交易费用）。 ...

Group 1 - Haitai Xinguang, based in Qingdao, specializes in the research, production, and sales of medical endoscope instruments and optical products, being a leading enterprise in the domestic medical endoscope optical field [1][30] - The company has established long-term collaborations with international medical giants such as Karl Storz and Olympus, and its high-definition optical imaging technology supports navigation equipment for neurosurgery [1][30] - By 2026, the market demand for its high-end optical components is expected to further release due to the recovery of the medical device sector and the advancement of brain-computer interface medical applications [1][30] Group 2 - Huqiang Technology, registered in Yichang, focuses on special protective equipment, pharmaceutical packaging, and medical devices, with a strong advantage in public health emergency material supply [2][31] - Its medical protective equipment is applicable in sterile operating environments for brain-computer interface implantation surgeries, enhancing product competitiveness in the medical device sector [2][31] Group 3 - Zhengde Medical, headquartered in Shaoxing, is a leading enterprise in the medical dressing industry, with a product matrix covering medical dressings, infection control, and rehabilitation care [3][32] - The company's surgical infection control products meet the sterile operation requirements for brain-computer interface implantation surgeries, and its rehabilitation products cater to post-operative patient management needs [3][32] - By 2026, the surgical infection control consumables business is expected to see market growth as brain-computer interface medical applications accelerate [3][32] Group 4 - Linuo Pharmaceutical Packaging, based in Jinan, specializes in the research, production, and sales of pharmaceutical packaging materials, including sterile medical device packaging suitable for brain-computer interface components [4][33] - The company is gradually expanding into the high-end medical device packaging market, seizing opportunities in the brain-computer interface industry [4][33] Group 5 - Rendu Biotech, located in Shanghai, focuses on RNA molecular diagnostic technology, with applications in infection detection post-brain-computer interface implantation surgeries [5][34] - The company’s post-operative infection detection reagents are expected to see new demand growth by 2026 as brain-computer interface clinical surgeries are promoted [5][34] Group 6 - Huangshan Capsule, based in Anhui, specializes in the research and production of pharmaceutical hollow capsules, gradually expanding into medical device auxiliary materials [6][36] - The company’s medical capsule carriers can adapt to the encapsulation needs of sustained-release bioelectrodes in brain-computer interface devices [6][36] Group 7 - ST Kelly, headquartered in Suzhou, focuses on medical device research and production, particularly in ultrasound equipment and rehabilitation devices [7][37] - The company’s ultrasound diagnostic equipment can be used for pre-operative brain tissue imaging assessments in brain-computer interface surgeries [7][37] Group 8 - Aotai Biotech, based in Hangzhou, specializes in rapid diagnostic reagents, with its rapid infection detection reagents applicable in brain-computer interface clinical settings [8][38] - The company is developing rapid detection products for post-operative neurological function assessment related to brain-computer interfaces [8][38] Group 9 - Dongfang Ocean, located in Yantai, focuses on marine biological medical materials, with collagen materials applicable as coatings for brain-computer interface electrodes [9][39] - The company is increasing its R&D investment in the medical device sector, particularly in the integration of biological medical materials with brain-computer interface devices by 2026 [9][39] Group 10 - Shuoshi Biotech, based in Taizhou, specializes in nucleic acid detection technology, with products applicable for precise diagnosis of post-operative brain infections in brain-computer interface surgeries [10][40] - The company is exploring detection technologies related to neurotransmitters in brain-computer interfaces, aiming for breakthroughs in neurological disease diagnostics [10][40] Group 11 - Guofa Co., located in Beihai, focuses on pharmaceutical manufacturing and medical device sales, with a distribution network covering Guangxi and surrounding areas [11][41] - The company plans to increase its agency layout for high-end medical devices related to brain-computer interfaces by 2026 [11][41] Group 12 - Nanwei Co., based in Nantong, specializes in medical dressings and hygiene products, with its adhesive dressings suitable for post-operative care in brain-computer interface surgeries [12][42] - The company is enhancing its R&D on functional medical dressings, launching products tailored for long-term post-operative care in brain-computer interfaces [12][42] Group 13 - Mingde Biotech, located in Wuhan, is a leading enterprise in the field of rapid diagnostic reagents, with products applicable for monitoring vital signs during brain-computer interface surgeries [13][43] - The company is developing rapid assessment devices for post-operative neurological function related to brain-computer interfaces [13][43] Group 14 - Hualan Co., based in Wuxi, specializes in medical rubber products, with its rubber sealing components applicable in fluid control systems for brain-computer interface devices [14][44] - The company is collaborating with research institutions to develop rubber insulation components for brain-computer interface electrodes [14][44] Group 15 - Yuyue Medical, headquartered in Danyang, is a leading enterprise in home medical devices, with products applicable in brain-computer interface surgeries [15][45] - The company is increasing its R&D on medical-grade rehabilitation robots, aiming to integrate brain-computer interface technology with rehabilitation devices [15][45] Group 16 - Shengxiang Biotech, located in Changsha, focuses on nucleic acid detection technology, with products applicable for rapid diagnosis of central nervous system infections post-brain-computer interface surgeries [16][46] - The company is exploring gene detection technologies related to neurological genetic diseases, expanding the application boundaries of molecular diagnostics [16][46] Group 17 - Jiga Development, based in Jinan, focuses on high-end medical device incubation and industrialization, particularly in brain-computer interface-related medical device enterprises [17][47] - The company is responsible for industrial park construction and resource integration for brain-computer interface medical device companies [17][47] Group 18 - Anxu Biotech, located in Hangzhou, specializes in rapid diagnostic reagents, with products applicable for instant infection screening during brain-computer interface surgeries [18][48] - The company is developing rapid detection products for neurotransmitters related to brain-computer interfaces, aiming for breakthroughs in neurological function assessment [18][48] Group 19 - Wantai Biotech, based in Beijing, is a comprehensive enterprise in biopharmaceuticals and medical devices, with products applicable for biochemical index detection post-brain-computer interface surgeries [19][49] - The company is exploring biopharmaceutical development related to brain-computer interfaces, seeking new growth points in nerve repair [19][49] Group 20 - Jiuan Medical, located in Tianjin, focuses on home health devices, with products applicable for synchronized monitoring of brain signals and vital signs in brain-computer interface scenarios [20][50] - The company is increasing its R&D investment in brain-computer interface wearable devices, aiming to create an intelligent medical ecosystem [20][50] Group 21 - Jidan Biotech, based in Nanjing, specializes in POCT reagents and instruments, with products applicable for cardiovascular function assessment in brain-computer interface surgeries [21][51] - The company is developing rapid detection products for post-operative cerebrovascular diseases related to brain-computer interfaces [21][51] Group 22 - Wanfeng Biotech, located in Guangzhou, is a leading enterprise in the POCT field, with products applicable for instant infection screening during brain-computer interface surgeries [22][52] - The company is developing neurobiomarker detection reagents to assess post-operative neurological function recovery, providing comprehensive support for brain-computer interface surgeries [22][52] Group 23 - Haier Biotech, based in Qingdao, specializes in low-temperature storage devices for biological materials, with applications in brain-computer interface-related biological sample preservation [23][53] - The company is increasing its R&D on high-end medical storage devices tailored for brain-computer interface biological materials by 2026 [23][53] Group 24 - Haooubo, located in Suzhou, focuses on immune diagnostic reagents and instruments, with products applicable for immune function assessment in brain-computer interface surgeries [24][54] - The company is developing detection reagents for immune rejection post-brain-computer interface implantation, providing technical support for surgical complications [24][54] Group 25 - Shandong Pharmaceutical Glass, based in Zibo, is a leading enterprise in pharmaceutical glass, with products applicable for insulation packaging of brain-computer interface electrodes [25][55] - The company is expanding into the high-end medical device glass materials market, targeting the brain-computer interface industry [25][55] Group 26 - Innotech, located in Langfang, specializes in infectious disease diagnostic reagents, with products applicable for pre-operative lung infection screening in brain-computer interface surgeries [26][56] - The company is developing rapid detection products for post-operative lung infections related to brain-computer interfaces, aiming for breakthroughs in post-operative complication detection [26][56] Group 27 - Jianer Kang, based in Changzhou, focuses on medical dressings and rehabilitation care products, with its antibacterial medical dressings applicable for post-operative care in brain-computer interface surgeries [27][59] - The company is increasing its R&D on functional medical dressings, launching products tailored for long-term post-operative care in brain-computer interfaces [27][59]

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