江苏鱼跃医疗设备股份有限公司 2025 年半年度报告全文 江苏鱼跃医疗设备股份有限公司 2025 年半年度报告 2025 年 8 月 1 江苏鱼跃医疗设备股份有限公司 2025 年半年度报告全文 第一节 重要提示、目录和释义 公司董事会、监事会及董事、监事、高级管理人员保证半年度报告内容 的真实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担 个别和连带的法律责任。 公司负责人吴群、主管会计工作负责人刘丽华及会计机构负责人(会计主 管人员)史永红声明：保证本半年度报告中财务报告的真实、准确、完整。 所有董事均已出席了审议本次半年报的董事会会议。 本半年度报告中如有涉及未来计划、业绩预测等方面的内容，均不构成 公司对投资者的实质承诺，投资者及相关人士均应当对此保持足够的风险认 识，并且应当理解计划、预测与承诺之间的差异。 公司在本半年度报告第三节管理层讨论与分析关于公司面临的风险和应 对措施中，描述了可能面对的挑战和存在的行业风险，敬请广大投资者注意 投资风险。 公司经本次董事会审议通过的利润分配预案为：以未来实施分配方案时 股权登记日的总股本为基数，向全体股东每 10 股派发现金红利 2 元（含税 ...

Group 1 - The stock price of Yuyue Medical (002223) closed at 36.69 yuan on August 21, 2025, with an increase of 1.35% and a trading volume of 15.83 million shares, resulting in a transaction amount of 582 million yuan [1] - On August 21, the net inflow of main funds was 23.70 million yuan, accounting for 4.07% of the total transaction amount, while retail investors had a net inflow of 19.53 million yuan, accounting for 3.36% [1][2] - The company reported a total market value of 36.78 billion yuan, ranking 5th in the medical device industry, with a net profit of 625 million yuan, ranking 2nd in the industry [3] Group 2 - Yuyue Medical's Q1 2025 report showed a main revenue of 2.436 billion yuan, a year-on-year increase of 9.17%, while the net profit decreased by 5.26% to 625 million yuan [3] - The company has received ratings from 6 institutions in the last 90 days, with 5 buy ratings and 1 hold rating, and the average target price set by institutions is 42.84 yuan [4]

8月21日，鱼跃医疗今日收盘36.69元，上涨1.35%，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20.77倍，创52天以来新低，总市值367.81亿元。 从行业市盈率排名来看，公司所处的医疗器械行业市盈率平均60.02倍，行业中值41.17倍，鱼跃医疗排 名第42位。 截至2025年一季报，共有69家机构持仓鱼跃医疗，其中基金69家，合计持股数5595.24万股，持股市值 19.92亿元。 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，2025年一季报，公司实现营业收入24.36亿元，同比9.17%；净利润6.25亿元，同 ...

Group 1 - The medical device industry experienced a slight increase of 0.07% on August 21, with a net outflow of 596 million yuan in main capital [1] - Among the component stocks, 55 stocks rose while 41 stocks fell [1] - The companies with the highest net outflow of main capital included Xinhua Medical (11.58 million yuan), Libang Instruments (10.77 million yuan), and Jiukang Bio (10.73 million yuan) [1] Group 2 - The latest prices and performance of selected medical companies include: Meihua Medical at 23.41 with an increase of 8.09% and a net inflow of 6.44 million yuan [2] - Mindray Medical at 245.71 with an increase of 3.87% and a net inflow of 879.86 million yuan [2] - Other notable companies include Yingke Medical at 37.43 with an increase of 1.08% and a net inflow of 599.81 million yuan, and Aibo Medical at 77.31 with an increase of 1.15% and a net inflow of 4360.64 million yuan [2]

Group 1 - The A-share market showed mixed results, with the medical device ETF fund (159797) rising nearly 1%, marking a strong push for five consecutive days of gains [1] - The medical device ETF fund (159797) received a net subscription of 12 million units during the day, achieving a net inflow for 12 consecutive days, totaling over 130 million yuan [1] - Major stocks within the medical device ETF fund saw significant gains, including Mindray Medical up 4.35% and Hotgen Biotech up 6% [2][5] Group 2 - Recent high-level research in Beijing emphasized the need for increased high-quality technological supply and policy support in the biopharmaceutical industry, aiming to enhance the quality and efficiency of drug development [2] - The total bid amount for medical devices in July reached 12.643 billion yuan, a year-on-year increase of 20%, with a total of 96.785 billion yuan for the first seven months, reflecting a 57% year-on-year growth [3] Group 3 - The brain-computer interface industry is expected to accelerate due to supportive policies, with a target for key technological breakthroughs by 2027 [4] - The global market for brain-computer interfaces in medical applications is projected to reach 40 billion USD by 2030 and exceed 145 billion USD by 2040 [6] Group 4 - The medical device ETF fund (159797) covers core areas of medical devices, including high-value consumables and in vitro diagnostics, with the top ten weighted stocks accounting for over 44% of the fund [7]

Group 1 - The medical device sector is experiencing a strong performance, with the CSI All Medical Device Index rising by 1.41% as of August 21, 2025, and notable stocks such as Meihua Medical increasing by 14.12% [1] - The Medical Device ETF (159797) has shown a consistent upward trend, achieving a 1.55% increase over the past week and a 1.17% rise on the day of reporting [1] - The Medical Device ETF has seen significant liquidity, with a turnover rate of 7.13% and nearly 20 million yuan in trading volume [1] Group 2 - The Medical Device ETF has reached a new high in scale at 255 million yuan and a new high in shares at 300 million, indicating strong investor interest [2] - Over the past 11 days, the ETF has experienced continuous net inflows, totaling 122 million yuan, with a peak single-day inflow of 31.28 million yuan [2] Group 3 - Recent government initiatives emphasize the importance of high-quality technological supply and policy support for the biopharmaceutical industry, aiming to enhance the quality and efficiency of medical products [5] - The total bid amount for medical devices in July reached 12.643 billion yuan, reflecting a year-on-year growth of 20%, with a total of 96.785 billion yuan for the first seven months, marking a 57% increase [5] - The Ministry of Industry and Information Technology has issued guidelines to promote the innovation of brain-computer interface technology, aiming for breakthroughs by 2027 [5] Group 4 - The brain-computer interface industry is expected to see significant growth driven by technological innovation, policy support, and capital investment, particularly in healthcare and consumer markets [6] - The Medical Device ETF encompasses a wide range of sectors, including high-value consumables and in-vitro diagnostics, with the top ten weighted stocks accounting for over 44% of the fund [6]

□ 南京日报/紫金山新闻记者 张甜甜 实习生 高冰洁 8月17日晚，"苏超"南京队主场对阵盐城队的比赛在南京奥体中心上演。"投资南京就是投资未来"横幅 下的观众席上，旗帜、应援服构成的蓝色海洋之中，每一次冲锋、扑救，都引来"山呼海啸"，一浪高过 一浪。当终场哨声响起，菲特（中国）制药科技有限公司总经理、博士安睿史激动地从座位上一跃而 起，和周围的人们一起，边挥舞手中的充气棒边激动地呐喊。 不只有他，现场观众中还有不少"洋面孔"。他们从何处而来、为什么来观赛，记者进行了采访。 看台之上：为城而战，声浪如潮 绿茵场上，南京队从"0∶1"到"3∶2"，最终反超比分赢下比赛。置身比赛现场，就会立即被扑面而来的热 烈气氛深深感染，瞬间被永不言弃的拼搏精神彻底打动。记者注意到，不少人都保持着身体前倾的姿 势，一动不动地注视着前方，唯恐错过主队任何一个精彩瞬间。 为什么这么投入？因为投资南京，身在异乡却不是"异客"。 目睹南京队在"苏超"赛场上的披荆斩棘，这些在宁奋斗的企业家们心中的发展蓝图也更加清晰炽热。"9 月17日，我们与南京合办的2025第五届Innovation Fair创新跨境交流会暨欧洲企业代表团走进南京的活 ...

Core Insights - The 18th Health Industry Ecological Conference (Xipu Conference) was held in Boao, Hainan, focusing on the theme "Rapid Transformation, Crossing New Cycles," gathering over 8,000 industry elites to explore solutions for industry breakthroughs amid technological revolutions and market changes [1][3] - Yuyue Medical, a leading domestic medical device company, was invited to the conference and awarded the "Xipu Gold Award" as part of the "2025 Healthy China Brand List," marking its 11th consecutive year on the list [1][3] Company Developments - At the conference, Yuyue Medical showcased an innovative product matrix in areas such as respiratory therapy, diabetes management, infection control, and emergency equipment [3] - The company introduced the Yuyue AI Health Steward (AI agent), which integrates its product matrix with an intelligent health management ecosystem, capable of analyzing user-uploaded health data and providing personalized health status reports and professional advice [3] - Yuyue Medical is increasing its R&D investment to advance a series of AI-driven healthcare products [3] Industry Trends - The "Healthy China Brand List" evaluation system is based on four dimensions: product value, market value, profit expectations, and user praise, reflecting Yuyue Medical's ability to grasp trends and continuously break boundaries [3] - The committee noted that Yuyue Medical has successfully transitioned professional medical-grade products into home settings, facilitating a critical leap from "manufacturing" to "intelligent manufacturing" in China's medical device industry [3] - As the health industry shifts from "incremental competition" to "value reconstruction," Yuyue Medical sets a benchmark for the Chinese medical device sector and injects strong momentum into global health industry innovation [3]

Group 1 - The top three brands in the consumer index are Notland, Durex, and Yuwell, with scores of 1.72, 1.63, and 1.53 respectively, indicating a significant lead over other brands [1][2] - The consumer index report aims to objectively present trends in the consumption world, helping industries and brand owners track market trends and enhance competitive strength [5] Group 2 - Young professionals are increasingly seeking "fragmented health management" solutions in office settings, leading to a rise in demand for portable health products [3] - Notland has expanded its product offerings to include instant energy supplements for cyclists and complex vitamins for high-intensity mental workers, solidifying its position in the health and fitness sector [3] - Brands like Yuwell and Cofos are integrating traditional Chinese medicine concepts with micro-technology to create portable health devices, catering to the need for convenient wellness solutions [3] Group 3 - The eye care market is evolving into a "beauty and health dual-core" driven era, with brands focusing on material science breakthroughs and comprehensive health management services [3] - Fashion brands such as Moody and Kela are leveraging technological innovation and style to attract young consumers, with Moody launching a new silicone hydrogel series and Kela promoting seasonal designs [4] - Professional brands like CooperVision and Alcon are addressing vision correction and eye health with high-end daily care products, tapping into the premium market segment [4]

内容概要：微量注射泵作为现代医疗的关键设备，正以给药、智能控制为核心，推动着临床治疗的安全 性与效率升级。随着人口老龄化与慢性病管理需求激增，微量注射泵的市场规模持续扩张。数据显示， 2019年中国微量注射泵行业市场规模达到24.77亿元，到了2024年行业市场规模增长至33.56亿元，年复 合增长率为6.3%。预计未来随着医疗技术的不断进步以及对精准医疗需求的上升，微量注射泵的市场 渗透率持续提高，行业整体呈现出稳步增长的态势。 相关上市企业：迈瑞医疗（300760）、华阳智能（301502）、微创医疗（00853）、鱼跃医疗 （002223）、中红医疗（300981）等。 相关企业：深圳圣诺医疗设备股份有限公司、上海安洁电子设备有限公司、浙江史密斯医学仪器有限公 司、郑州瑞宇科技有限公司、大连万德电子有限公司、苏州泽德医疗器械有限公司、上海蓝德医疗器械 有限公司、广州欧浦瑞医疗科技有限公司、北京思路高高科技发展有限公司、深圳麦科田生物医疗技术 股份有限公司等。 关键词：微量注射泵行业相关政策、微量注射泵行业产业链、微量注射泵行业市场规模 一、微量注射泵行业相关概述 微量注射泵（简称微量泵）是一种新型泵力仪 ...