证券代码：002223 证券简称：鱼跃医疗 公告编号：2025-011 江苏鱼跃医疗设备股份有限公司 二、董事会会议审议情况 1、关于《公司 2024 年度总经理工作报告》的议案 表决结果：同意：9 票；反对：0 票；弃权：0 票 2、关于《公司 2024 年度董事会工作报告》的议案 表决结果：同意：9 票；反对：0 票；弃权：0 票 《江苏鱼跃医疗设备股份有限公司 2024 年度董事会工作报告》内容具体详 见《2024 年年度报告》第三节《管理层讨论与分析》部分及第四节《公司治理》 部分。 第六届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 2025 年 4 月 25 日，江苏鱼跃医疗设备股份有限公司（以下简称"公司"） 以通讯表决的方式召开了第六届董事会第四次会议。公司于 2025 年 4 月 16 日以 书面送达及电子邮件方式发出了召开公司第六届董事会第四次会议的通知以及 提交审议的议案，经全体董事一致同意，豁免本次董事会的通知时限。会议应出 席董事 9 名，实际出席会议董事 9 名。本次会议的召集、召 ...

Financial Performance - The company's operating revenue for 2024 was ¥7,565,819,017.28, a decrease of 5.09% compared to ¥7,971,734,452.47 in 2023[19]. - Net profit attributable to shareholders for 2024 was ¥1,805,700,655.26, reflecting a decline of 24.63% from ¥2,395,853,276.49 in 2023[19]. - The net cash flow from operating activities decreased by 14.61% to ¥1,816,269,732.77 in 2024, down from ¥2,126,977,841.98 in 2023[19]. - Basic earnings per share for 2024 were ¥1.81, a drop of 24.90% compared to ¥2.41 in 2023[19]. - Total assets at the end of 2024 were ¥15,645,782,499.04, down 2.01% from ¥15,967,458,083.34 at the end of 2023[20]. - The net assets attributable to shareholders increased by 6.56% to ¥12,535,332,607.69 in 2024, compared to ¥11,763,562,138.83 in 2023[20]. - The company reported a significant decrease in non-recurring gains, with a total of ¥412,861,542.07 in 2024 compared to ¥560,231,652.24 in 2023[28]. - The company achieved total revenue of 7.566 billion yuan, a year-on-year decrease of 5.09%[47]. - Operating profit was 1.932 billion yuan, down 33.24% year-on-year[47]. - The company has a total asset of 15.646 billion yuan and a debt-to-asset ratio of 19.12%[48]. - The company's cash flow from operating activities was 1.816 billion yuan, a decrease of 14.61% year-on-year[48]. Dividend Distribution - The company plans to distribute a cash dividend of 4.00 yuan per 10 shares (including tax) to all shareholders[4]. - The company distributed a cash dividend of CNY 8.00 per 10 shares (including tax) totaling CNY 802 million for the 2023 annual profit distribution, and plans to distribute CNY 4.00 per 10 shares (including tax) totaling CNY 401 million for the 2024 interim dividend[112]. - The cumulative cash dividend for 2024 is expected to reach CNY 802 million, accounting for 44.40% of the net profit attributable to shareholders of the listed company[112]. Market and Industry Insights - The global medical device market size reached $582.6 billion in 2023, with a compound annual growth rate (CAGR) of approximately 6.37% from 2018 to 2023, and is expected to grow further in 2024[30]. - China's medical device market size reached 1,032.8 billion RMB in 2023, with a CAGR of 16.12% from 2016 to 2023, making it the second-largest market globally[30]. - The medical device industry in China is experiencing consolidation and increased R&D investment, with a focus on smart and diversified products driven by technological advancements[32]. - The Chinese medical device industry is transitioning from rapid growth to high-quality development, driven by policy support, demographic changes, and increased health awareness[92]. - The home medical device market is expanding due to the aging population and rising health management needs, leading to increased demand for home health monitoring and rehabilitation equipment[90]. Product Development and Innovation - The company focuses on home medical devices, clinical products, and related services, with core business areas including respiratory therapy, blood glucose management, and home health monitoring[34]. - The company has established a comprehensive technology and product system in diabetes management, recently launching the new "Anytime" continuous glucose monitoring series[37]. - The company is leveraging its scale, intelligence, and lean production capabilities to enhance its competitive edge in the diabetes management sector[37]. - The company has launched several new products, including advanced endoscope cleaning products and new generation AEDs, to enhance market competitiveness[68]. - The company is currently developing new high-flow humidification therapy devices and advanced non-invasive ventilators, which are in clinical trials[63]. - The company is expanding its product line with new continuous glucose monitoring (CGM) systems, enhancing market competitiveness and aiming for overseas sales[67]. Research and Development - R&D expenses amounted to 547 million yuan, a year-over-year increase of 8.39%, indicating the company's commitment to innovation and technology enhancement[54]. - The company has increased its R&D personnel by 18.23% from 1,031 in 2023 to 1,219 in 2024, with a corresponding increase in the proportion of R&D personnel from 16.86% to 19.21%[70]. - R&D investment has risen by 8.39% from approximately ¥504.37 million in 2023 to ¥546.68 million in 2024, with R&D investment as a percentage of operating revenue increasing from 6.33% to 7.23%[70]. Corporate Governance and Management - The company emphasizes investor relations management and has received an "A" rating in the 2023-2024 information disclosure assessment by the Shenzhen Stock Exchange[111]. - The company has established independent financial and operational systems, ensuring compliance with relevant laws and regulations[114][122]. - The board of directors has held multiple meetings to review and approve the company's quarterly reports, ensuring transparency and accountability[145]. - The company has implemented a performance evaluation system for its directors and senior management, determining their annual salary based on company performance and individual achievements[143]. - The company has maintained a stable shareholding structure with no significant increases or decreases reported[124]. Social Responsibility and Sustainability - The company actively engages in social responsibility, focusing on protecting the rights of shareholders, creditors, employees, suppliers, customers, and consumers, while also promoting environmental protection and sustainable development[178]. - The company has implemented various measures to reduce carbon emissions, including the establishment of a smart central energy system and water resource management system, which have improved production efficiency and reduced energy consumption[176]. - During the reporting period, the company donated essential medical equipment to grassroots health institutions in the southwest region as part of its targeted poverty alleviation projects[179]. Risk Management - The company emphasizes the importance of risk awareness regarding future plans and performance forecasts, indicating potential industry challenges[4]. - The company will implement a risk management system to mitigate potential risks and ensure stable and sustainable growth[96].

Financial Performance - The company's revenue for Q1 2025 was ¥2,435,873,177.34, representing a 9.17% increase compared to ¥2,231,209,294.86 in the same period last year[5] - Net profit attributable to shareholders decreased by 5.26% to ¥624,758,641.94 from ¥659,412,768.43 year-on-year[5] - The net cash flow from operating activities was ¥657,714,515.09, down 2.64% from ¥675,553,263.28 in the previous year[5] - Total operating revenue for the current period reached ¥2,435,873,177.34, an increase of 9.2% compared to ¥2,231,209,294.86 in the previous period[30] - Net profit for the current period was ¥623,182,616.76, a decrease of 5.7% from ¥661,025,126.81 in the previous period[32] - Basic and diluted earnings per share were both ¥0.6271, down from ¥0.6619 in the prior period[32] - The company reported a total profit of ¥737,099,415.22, down from ¥778,193,564.96 in the previous period, reflecting a decline in overall profitability[32] Assets and Liabilities - Total assets increased by 4.93% to ¥16,416,376,751.82 from ¥15,645,782,499.04 at the end of the previous year[5] - The company's total liabilities as of March 31, 2025, were CNY 3,189,273,124.05, with current liabilities totaling CNY 2,900,863,483.46[28] - The company's total equity as of March 31, 2025, was CNY 13,227,103,627.77, reflecting a strong financial position[28] - Cash and cash equivalents increased to CNY 7,079,594,847.56 from CNY 6,618,648,637.69, indicating improved liquidity[26] Cash Flow - The net cash flow from investing activities decreased by 589.34%, mainly due to strategic investments in directed share placements[9] - The company experienced a 97.64% increase in net cash flow from financing activities, primarily due to last year's loan repayments[9] - Cash flow from operating activities generated a net amount of ¥657,714,515.09, slightly down from ¥675,553,263.28 in the previous period[34] - The company received cash inflows from operating activities totaling ¥2,358,650,181.12, an increase from ¥2,281,354,434.16 in the previous period[34] Shareholder Information - The total number of common stock shareholders at the end of the reporting period is 49,184[11] - Jiangsu Yuyue Technology Development Co., Ltd. holds 24.54% of shares, totaling 245,983,450 shares[11] - The top ten shareholders collectively hold significant stakes, with the largest shareholder owning 24.54%[11] - As of February 26, 2025, the employee stock ownership plan holds 6,010,616 shares, accounting for 0.60% of the company's total share capital[21] Investments and Partnerships - The company has invested up to RMB 60 million in the Nanjing Shengyu Heike New Intelligent Manufacturing Venture Capital Partnership[14] - The company subscribed to 2,626,425 shares of Inogen, representing 9.9% of Inogen's issued common stock after the investment[16] - The company has established a strategic cooperation agreement with Inogen for international distribution, trademark licensing, joint R&D, and supply chain optimization[16] - The company has completed the capital contribution to the partnership and will not need to make further contributions[14] Product Development and Innovation - The company received a medical device registration certificate for its 15-day calibration-free/calibrated dual-mode continuous glucose monitoring system[18] - The company aims to enhance product offerings in diabetes care solutions, focusing on accuracy, comfort, convenience, and digital management[18] - The company received the medical device registration certificate for the Continuous Glucose Monitoring System (CGM), which has a maximum usage time of 16 days and does not require user calibration, enhancing user experience and expanding the product matrix in blood glucose management[19] - The company’s automatic external defibrillator (AED) has obtained EU MDR certification, enhancing its competitiveness in the emergency medical field and facilitating business development in EU countries[23] - Research and development expenses increased to ¥156,329,663.86, up 25.6% from ¥124,450,232.82 in the prior period, indicating a focus on innovation[31] Operational Costs - Total operating costs amounted to ¥1,816,105,564.51, up 14.6% from ¥1,584,225,003.71 in the prior period, with operating costs specifically rising to ¥1,210,554,322.86, a 8.4% increase from ¥1,116,936,863.37[31] - Sales expenses rose by 32.67%, primarily due to increases in salaries, bonuses, and advertising costs[8] Other Financial Information - Other comprehensive income after tax showed a net loss of ¥53,795,499.78, compared to a loss of ¥2,952,891.55 in the previous period[32] - The first quarter report has not been audited[36] - The new accounting standards will be implemented starting in 2025[36] - The financial statement items related to the first year of implementation will be adjusted accordingly[36] - The board of directors of Jiangsu Yuyue Medical Equipment Co., Ltd. issued the report on April 26, 2025[36]

江苏鱼跃医疗设备股份有限公司的主营业务是研发、制造和销售医疗器械产品及提供相关解决方案。公 司产品主要集中在呼吸制氧、糖尿病护理、感染控制解决方案、家用类电子检测及体外诊断、急救与临 床及康复器械等业务领域。公司目前拥有"鱼跃yuwell"、"洁芙柔"、"华佗Hwato"、"金钟JZ"、"安尔 碘"、"普美康PRIMEDIC"、"六六视觉"等几大主要品牌。"鱼跃"品牌深入人心，依托鱼跃产品力的不断 提升及有效的品牌传播，以及旗下产品在海内外医疗一线的卓越表现，公司品牌价值和品牌优势显著提 升。 最新一期业绩显示，2024年三季报，公司实现营业收入60.28亿元，同比-9.53%；净利润15.32亿元，同 比-30.09%，销售毛利率50.13%。 4月25日，鱼跃医疗今日收盘33.21元，下跌3.26%，滚动市盈率PE（当前股价与前四季度每股收益总和 的比值）达到19.17倍，总市值332.92亿元。 序号股票简称PE(TTM)PE(静)市净率总市值(元)44鱼跃医疗19.1713.902.66332.92亿行业平均 45.1147.464.59101.63亿行业中值33.8331.852.2945.98亿1 ...

从指数持仓来看，中证全指医疗行业指数十大权重分别为：迈瑞医疗（14.15%）、爱尔眼科 （8.89%）、联影医疗（7.82%）、爱美客（4.05%）、惠泰医疗（4.0%）、鱼跃医疗（3.12%）、上海 医药（3.09%）、新产业（3.03%）、益丰药房（2.65%）、美年健康（2.5%）。 金融界4月22日消息，A股三大指数收盘涨跌不一，中证全指医疗行业指数 (医疗行业，932131)报537.08 点。 数据统计显示，中证全指医疗行业指数近一个月下跌5.24%，近三个月下跌0.28%，年至今下跌5.24%。 据了解，中证全指行业优选指数系列从中证全指行业中选取符合一定流动性与市值筛选条件的上市公司 作为指数样本，以反映各个行业内较具代表性与可投资性的上市公司证券的整体表现。该指数以2021年 12月31日为基日，以1000.0点为基点。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。遇临时调整时，当中证全指指数调整样本时，中证全指行业指数 ...

金融界4月21日消息，上证指数低开高走，中证全指医疗保健设备与服务指数 (医疗保健，H30178)上涨 1.17%，报13221.28点，成交额109.71亿元。 跟踪医疗保健的公募基金包括：南方中证全指医疗保健设备与服务联接A、南方中证全指医疗保健设备 与服务联接C、南方中证全指医疗保健设备与服务联接I、天弘中证全指医疗保健设备与服务ETF、南方 中证全指医疗保健设备与服务ETF、建信中证全指医疗保健设备与服务ETF、大成中证全指医疗保健设 备与服务ETF、华泰柏瑞中证全指医疗保健设备与服务ETF。 从中证全指医疗保健设备与服务指数持仓的市场板块来看，深圳证券交易所占比60.12%、上海证券交 易所占比39.88%。 从中证全指医疗保健设备与服务指数持仓样本的行业来看，医药卫生占比100.00%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时，将其从指数样 本中剔除。样本公司发生收购、合并、分 ...

Industry Overview - Molecular sieve oxygen production, also known as pressure swing adsorption oxygen production, is a type of ambient temperature air separation technology that utilizes the larger diameter of nitrogen molecules to separate oxygen from air [1][2] - The demand for medical oxygen is continuously growing due to the aging population, increasing chronic disease patients, and the strengthening of grassroots medical institutions [1][11] - The market size of China's medical molecular sieve oxygen industry has expanded from 220 million yuan in 2018 to 425 million yuan in 2024 [1][11] Industry Status - The aging population in China is projected to reach 22.023 million people aged 65 and above by 2024, increasing from 8.9% in 2010 to 15.6% of the total population [9] - The medical molecular sieve oxygen industry has developed a complete industrial chain, including raw material supply, production, and application of oxygen machines [7][11] Competitive Landscape - Major companies in the medical molecular sieve oxygen market include Yuyue Medical, Tai Rui Medical, and Mindray Medical, which leverage strong technical capabilities and brand influence to capture significant market shares [13][14] - New and emerging companies are adopting differentiated strategies to compete, focusing on specific niches or customized services [13] Development Trends - The market for medical molecular sieve oxygen machines is expected to grow significantly, with projections indicating a rise to 706 million yuan by 2029 [18] - Technological innovations in new molecular sieve materials are enhancing the performance of oxygen machines, leading to faster adsorption speeds and improved user experience [19] - Government policies supporting the medical health industry, including funding subsidies and tax incentives, are accelerating technological advancements and industry upgrades [20]

2024年前三季，鱼跃医疗实现归母净利润15.32亿元，下滑了30.09%，显现业绩承压。 在市值变化方面，虽然鱼跃医疗的市值从14.73亿元稳步增长，目前已达到340.44亿元，增长幅度显著。但鱼跃医疗股价股价巅峰时 期在2015年4月17日，当日市值高达415.77亿元，报收41.90元。然而，最近4月17日交易数据集显示，总市值未340.44亿元，收盘价为 33.96元，市值较高位蒸发了18.12%。 鱼跃医疗（002223）自2008年4月18日上市以来，已走过17年的风雨历程。从初始市值仅为14.73亿元，到今天的340.44亿元，公司的 发展变化折射出中国医疗器械行业的飞速进步，然而鱼跃医疗的市值巅峰停留在2015年，至今10年仍未突破！作为一家专注于呼 吸、急救、康复等领域的医疗企业，鱼跃医疗不仅在国内市场占据了重要位置，也在全球范围内逐步开辟新的竞争空间。 鱼跃医疗的主营业务覆盖了医疗器械的多个重要领域，尤其在呼吸机、制氧机、自动体外除颤器(AED)等产品上具备明显优势。近年 来，公司更是在急救产品的研发和国际化扩展上不断加大投入。例如，其自主研发的AED产品已成功获得欧盟MDR认证，这不仅为 ...

据悉，本届德国iF设计奖由131位顶尖设计专家，从创新性、功能性、美学价值等九大维度对全球超 11000件作品展开评选。红点奖的评审团亦由30余国设计权威组成，获奖率不足5%的严苛筛选标准，使 每一件获奖作品都代表行业最高水准。 今年鱼跃医疗获奖产品呈现多方面亮点，在呼吸治疗、急救等多个领域都取得了优异的成绩。其中，斩 获双料大奖的HeartSave H7自动体外除颤器表现尤为抢眼，其独具新意的外观形态、便携形式和交互界 面设计都获得了高度评价，标志着该产品在多个设计领域的显著突破。 值得注意的是，HeartSave H7系列的创新之处不仅在于设计，其背后还蕴藏着一系列能与实际使用需求 深度结合的创新技术。例如，通过搭载内置摄像头，H7可实时传输急救画面至远程医疗平台，并结合 AI技术，精准捕捉按压频率、深度和位置等心肺复苏的操作细节，确保施救过程的规范性和有效性。 另一款在评选中脱颖而出的产品是Yuwell POCKET 呼吸机，它凭借出色的便携特性，以及追求极致的 设计品质，为有睡眠呼吸辅助需求的人群提供卓越的移动解决方案。通过与血氧指环搭配使用，可实时 监测血氧饱和度数据，为用户量身打造更为精准、安全的 ...