本报记者 刘钊 在青岛市崂山区的青岛海泰新光科技股份有限公司（以下简称"海泰新光"）研发中心，工程师们正在对4K荧光腹腔镜进行 最后的调试。这台高清手术镜头有个神奇的本领——手术中产生的雾气在3秒内一键自动消散，高清影像实时传输至显示屏， 让医生始终看得清清楚楚。这是海泰新光在内窥镜领域取得的重要技术成果。 2003年，海泰新光以光学镀膜技术起家，经历投影显示领域的挫折，公司敏锐抓住LED光源和荧光腹腔镜两大关键技术机 遇，成功切入内窥镜行业。通过深度绑定国际巨头完成技术积累，海泰新光最终迈向自主品牌建设，走出了一条清晰的"自我 进化"之路。近年来，海泰新光相继攻克三维内窥镜荧光摄像系统、多片式CMOS模组及专用图像处理技术等难题，构建了技 术护城河。 是什么让这家从光学镀膜起步的企业叩开医疗器械的大门？海泰新光又是如何从一根硬性内窥镜（硬镜）出发，织就覆盖 内窥镜全产业链的网络？带着这些疑问，近日《证券日报》记者走进海泰新光，探寻企业发展背后的故事。 海泰新光始终向更纤细的目标不断迈进，当前临床对超细镜需求迫切——镜头越细，越能为器械让出通道，减少创伤。海 泰新光已将内窥镜直径从最初的10.5毫米缩小至2. ...

证券日报网讯8月15日晚间，海泰新光发布公告称，公司计划于2025年8月25日(星期一)15：00-16：30举 行2025年半年度业绩说明会。 ...

证券代码：688677 证券简称：海泰新光 公告编号：2025-043 青岛海泰新光科技股份有限公司 关于召开 2025 年半年度业绩说明会的公告 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、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025 年 08 月 25 日（星期一）15:00-16:30 会议召开地点：上海证券交易所上证路演中心（网址： （一）会议召开时间：2025 年 08 月 25 日（星期一）15:00-16:30 （二）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/） （三）会议召开方式：上证路演中心音频直播和网络互动 https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心音频直播和网络互动 投资者可于 2025 年 08 月 18 日（星期一）至 08 月 22 日（星期五）16:00 前登录上证路演中心网站首页点击"提问预征集"栏目或通过公司邮箱 investment@novelbeam.com 进行提问。公司将在说明会 ...

证券之星消息，8月14日医疗器械板块较上一交易日下跌2.16%，利德曼领跌。当日上证指数报收于 3666.44，下跌0.46%。深证成指报收于11451.43，下跌0.87%。医疗器械板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 300289 | 利德曼 | 10.06 | -11.21% | 106.05万 | | 10.85 Z | | 300981 | 中红医疗 | 16.00 | -9.91% | 26.13万 | | 4.31亿 | | 688677 | 海泰新光 | 45.30 | -7.93% | 4.91万 | | 2.28亿 | | 301235 | や康浩浄 | 29.72 | -7.90% | 15.14万 | | 4.42亿 | | 832278 | 鹿得医疗 | 11.23 | -7.88% | 9.33万 | | 1.07亿 | | 688212 | 澳华内镜 | 49.14 | -7.79% | 4.70万 | | 2.34亿 ...

Group 1 - The core viewpoint of the article highlights the performance and valuation of Qindao Haitai Newlight Technology Co., Ltd. in the medical device industry, noting its current stock price and market capitalization [1] - As of August 13, the company's stock closed at 49.2 yuan, down 1.15%, with a rolling price-to-earnings (PE) ratio of 41.07 times, and a total market value of 5.898 billion yuan [1] - The average PE ratio for the medical device industry is 57.48 times, with a median of 40.95 times, positioning Haitai Newlight at the 77th rank within the industry [1] Group 2 - As of the first quarter of 2025, nine institutions hold shares in Haitai Newlight, all of which are funds, with a total holding of 10.4214 million shares valued at 407 million yuan [1] - The company's main business includes the research, development, manufacturing, sales, and service of medical endoscope instruments and optical products, with key products being 4K fluorescence/white light laparoscopes, endoscope light source modules, and camera adapters/lenses [1] - The latest performance report for the first quarter of 2025 shows the company achieved an operating revenue of 147 million yuan, a year-on-year increase of 24.86%, and a net profit of 46.6887 million yuan, up 21.45%, with a gross profit margin of 64.98% [1]

Group 1: Steel Industry - In July, the electrolytic aluminum capacity utilization rate reached 98.4%, marking a new high since 2012 [5] - The Ministry of Industry and Information Technology issued the "Steel Industry Normative Conditions (2025 Edition)" on February 8, 2025, and reiterated the need to promote the orderly exit of backward production capacity on July 18, indicating potential recovery in steel sector profitability [5] - The stock price-to-book ratio (PB) of steel stocks is expected to recover alongside profitability [5] Group 2: Wanhuah Chemical (600309.SH) - For the first half of 2025, Wanhuah Chemical reported revenue of 90.901 billion yuan, a year-on-year decrease of 6.35%, and a net profit attributable to shareholders of 6.123 billion yuan, down 25.10% [5] - In Q2 2025, the company achieved revenue of 47.834 billion yuan, a year-on-year decrease of 6.04%, but a quarter-on-quarter increase of 11.07% [5] Group 3: Guoguang Co., Ltd. (002749.SZ) - In the first half of 2025, Guoguang Co., Ltd. achieved revenue of 1.119 billion yuan, a year-on-year increase of 7.33%, and a net profit attributable to shareholders of 231 million yuan, up 6.05% [6] - In Q2 2025, the company reported revenue of 734 million yuan, a year-on-year increase of 8.47% and a quarter-on-quarter increase of 90.44% [6] Group 4: Aishuxin Co., Ltd. (600732.SH) - Aishuxin reported a revenue of 8.446 billion yuan for the first half of 2025, a year-on-year increase of 63.63%, with a net profit attributable to shareholders of -238 million yuan, indicating a narrowing loss [7] - In Q2 2025, the company achieved revenue of 4.311 billion yuan, a year-on-year increase of 62.77%, and a net profit of 63 million yuan, marking a return to profitability [7] Group 5: Huangshanghuang (002695.SZ) - For the first half of 2025, Huangshanghuang reported revenue of 984 million yuan, a year-on-year decrease of 7.19%, while net profit attributable to shareholders increased by 26.90% to 77 million yuan [8] - In Q2 2025, the company achieved revenue of 538 million yuan, a year-on-year decrease of 10.72%, but net profit increased by 16.08% [8] Group 6: Yanjing Beer (000729.SZ) - Yanjing Beer reported revenue of 8.56 billion yuan for the first half of 2025, a year-on-year increase of 6.4%, and a net profit attributable to shareholders of 1.1 billion yuan, up 45.4% [8] - The company experienced a significant improvement in overall net profit margin due to effective sales expense management [8] Group 7: Haitai New Light (688677.SH) - In 2024, Haitai New Light reported revenue of 443 million yuan, a year-on-year decrease of 5.90%, with a net profit of 135 million yuan, down 7.11% [9] - In 2025, the company saw a 24.9% year-on-year increase in revenue in Q1, indicating a recovery as customer inventory levels decreased [9]

Core Viewpoint - The company is expected to recover growth starting from 2025 as the impact of customer inventory reduction diminishes, leading to significant increases in shipments and revenue growth in response to recovering customer demand [3]. Group 1: Financial Performance - In 2024, the company is projected to achieve operating revenue of 443 million, a year-on-year decrease of 5.90%, and a net profit attributable to the parent company of 135 million, down 7.11% year-on-year [3]. - In Q1 2025, revenue is expected to grow by 24.9% year-on-year and 18.3% quarter-on-quarter as customer inventory levels decrease and the impact of destocking weakens [3]. Group 2: Product Development and Market Position - The second-generation 4K endoscope system began mass production and sales in 2024, showing accelerated growth in the domestic market with positive market feedback [4]. - The company is continuously developing a full range of products (cameras, light sources, various scopes) and actively developing ancillary products such as cutting and electrosurgical instruments to enhance its product matrix and market competitiveness [4]. Group 3: Research and Development Investment - In 2024, the company invested 54 million in R&D, accounting for 12.23% of its operating revenue, demonstrating strong technological innovation capabilities and market competitiveness [5]. - The company has launched several new endoscope products in the U.S. market, including a new 4mm hysteroscope and has completed product registration for various laparoscopes in the domestic market [5][6].

Company Overview - Qindao Haitai Newlight Technology Co., Ltd. specializes in the research, manufacturing, sales, and service of medical endoscope instruments and optical products [1] - The main products include 4K fluorescence/white light laparoscopes, endoscope light source modules, camera adapters, and lenses [1] Financial Performance - For Q1 2025, the company reported revenue of 147 million yuan, a year-on-year increase of 24.86% [1] - The net profit for the same period was 46.69 million yuan, reflecting a year-on-year growth of 21.45% [1] - The gross profit margin stood at 64.98% [1] Market Position - As of August 12, the closing price of the stock was 49.77 yuan, with a 5.83% increase, resulting in a rolling price-to-earnings (PE) ratio of 41.55, the lowest in 331 days [1] - The total market capitalization is 5.966 billion yuan [1] - In comparison to the industry, the average PE ratio for the medical device sector is 57.51, with a median of 41.25, placing Haitai Newlight at the 78th position in the industry ranking [1][2] Institutional Holdings - As of Q1 2025, there are 9 institutions holding shares in Haitai Newlight, all of which are funds, with a total holding of 10.4214 million shares valued at 407 million yuan [1]

2025 年 8 月 12 日 公司研究 去库影响减弱，期待二季度业绩修复 风险提示：新订单不及预期；新产品推广不及预期；贸易摩擦风险等。 公司盈利预测与估值简表 | 指标 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 471 | 443 | 552 | 669 | 816 | | 营业收入增长率 | -1.31% | -5.90% | 24.65% | 21.25% | 21.90% | | 归母净利润（百万元） | 146 | 135 | 185 | 222 | 268 | | 归母净利润增长率 | -20.19% | -7.11% | 36.77% | 19.76% | 21.09% | | EPS（元） | 1.20 | 1.12 | 1.54 | 1.85 | 2.24 | | ROE（归属母公司)（摊薄） | 11.27% | 10.38% | 13.07% | 14.09% | 17.40% | | P/E | 39 | 42 | 30 | 25 | 21 | ...

政策上，上周政策端进一步体现出对创新医疗药械的支持力度，工业和信息化部、国家发展改革委、教 育部、国家卫生健康委、 国务院国资委、中国科学院、国家药监局七部委发布《关于推动脑机接口产 业创新发展的实施意见》。国内将加强基 础软硬件攻关，打造高性能产品，将在 2027 年和 2030 年分 阶段展现出成果。其中，脑机接口赛道应用场景多元化、 产品及研发路径丰富，未来潜在空间巨大， 在国内政策加持下有望加速实现商业化普及。全球产品研发布局企业众多， 国内部分头部企业已经集 中在非侵入式领域产品取得多项技术突破，产品将迎来巨大商业化潜力 反内卷也在持续利好医疗器械行业的发展：7月3日，国家药监局关于发布优化全生命周期监管支持高端 医疗器械创新发展有关举措的公告，提出十大举措全力支持高端医疗器械重大创新。 近日，在政策反内卷号召、创新医疗器械支持下，国产医疗器械企业出海持续加速，今日盘中，全市场 规模最大的$医疗器械ETF(159883)$涨超2%，资金申购超1亿份，近一周份额增长14.8亿份，连续5天净 申购，资金持续疯狂涌入！ | 序号 | 代码 | 名称 | 涨跌幅 ▼ | | --- | --- | --- ...