| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 关于间接控股股东变更暨权益变动的提示性公告 股东淄博蓝帆投资有限公司保证向本公司提供的信息内容真实、准确、完整，没 有虚假记载、误导性陈述或重大遗漏。 本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 特别提示： 3、受公司公开发行可转换公司债券持有人陆续转股影响，公司总股本不断增加， 蓝帆投资及一致行动人李振平先生持股比例持续被稀释，根据相关规定公司将及时履 行信息披露义务。 4、上述权益变动不触及要约收购，不会导致公司控股股东及实际控制人发生变化， 不涉及公司控制权变更，不会导致公司业务结构发生变化，不会对公司主营业务和财 务状况产生重大不利影响，亦不会影响公司的人员独立、财务独立和资产完整，不存在 损害公司及中小股东利益的情形。 近日，公司收到控股股东蓝帆投资通知，获悉蓝帆投资原控股股东蓝帆集团与朗 晖石化等签署了《淄博蓝帆投资有限公司之增资协议》（以下简称"《增资协议》"）， ...

Group 1: Financial Performance - Bluefan Medical's cardiovascular business faced significant impacts from national stent procurement, but sales revenue improved, reaching over 1.1 billion yuan in 2024, with a net profit increase in Q1 2025 [2] - The health protection division's Q1 2025 performance declined due to U.S. tariffs, resulting in a significant drop in orders for nitrile gloves [4][10] - The company repurchased 5,532,200 shares in 2024, amounting to approximately 30 million yuan, to enhance shareholder value [6] Group 2: Market Strategy - Post-2018, Bluefan Medical shifted focus from the U.S. market to Europe and emerging markets, achieving 99% localization of raw materials [3] - The company is exploring polyurethane gloves as a new competitive product in the U.S. market, which could provide a pricing advantage over nitrile gloves [3] Group 3: Investor Relations and Confidence - The company is committed to enhancing investor confidence through a valuation improvement plan, which includes share buybacks and optimizing investor relations [5][6] - Management has consistently increased their shareholdings, indicating confidence in the company's future [7] Group 4: Operational Challenges - The company faces challenges in maintaining competitive gross margins due to differences in product structure and sales channels compared to competitors [10][12] - High energy costs at the Zibo base have led to a significant cost disadvantage, with costs exceeding industry standards by over 15% [13] Group 5: Future Outlook - Bluefan Medical plans to continue improving operational efficiency and exploring mergers and acquisitions to enhance its market position [5] - The company is closely monitoring the evolving trade environment and is prepared to adjust its strategies accordingly [12][14]

Core Insights - Zhengzhou Airport is emerging as a hub for headquarters economy, particularly with the establishment of "Central Plains Innovation Valley" focusing on various industries including artificial intelligence and biomedicine [1][2][3] Group 1: Headquarters Economy Development - The establishment of the Central Plains headquarters by Longxin Zhongke and the launch of various projects signify the growth of headquarters economy in Zhengzhou Airport [2][3] - Longxin Zhongke has set up a base in Zhengzhou Airport, contributing to the local economy and promoting the application of domestic CPU solutions across various sectors [2][3] - The opening of the International Headquarters Center project marks a significant step in enhancing the connectivity and development of the Zhengzhou Airport area [4] Group 2: Policy Support and Industry Focus - Zhengzhou Airport has introduced policies to support the development of headquarters economy, targeting high-quality enterprises across various sectors [5][6] - Key industries supported by the policies include biomedicine, electronic information, new energy vehicles, and artificial intelligence, aligning with the region's strategic development goals [6] - The establishment of the Zhengzhou Airport Innovation Industry Association and the launch of several key projects demonstrate the area's commitment to fostering innovation and collaboration [3][6]

| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 关于参加2025年山东辖区上市公司投资者 网上集体接待日活动的公告 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。 为进一步加强与投资者的互动交流，蓝帆医疗股份有限公司（以下简称"公司"） 将参加由山东证监局、山东上市公司协会与深圳市全景网络有限公司联合举办的"2025 年山东辖区上市公司投资者网上集体接待日活动"，现将相关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net）；或关注微信公众号（名称：全景财经）；或下载全景路演 APP，参 与本次互动交流。活动时间为 2025 年 5 月 15 日（周四）下午 15:00-16:30。 届时公司董事、总裁钟舒乔先生，副总裁、首席财务官崔运涛先生，董事会秘书王 梓漪女士将在线就公司 2024 年度业绩、公司治理、发展战略、经营状况、融资计划和 ...

Core Insights - The global trade impact from the "reciprocal tariffs" has posed significant challenges for export-oriented companies, yet opportunities arise alongside these challenges. Bluefan Medical (002382) has communicated internally to its subsidiaries, emphasizing confidence in their strategic foresight and market opportunities [1] Group 1: Strategic Transformation - Since 2018, Bluefan Medical has transitioned from a PVC glove-focused company heavily reliant on the U.S. market to a diversified entity with a comprehensive "A+X" strategy, reducing export dependency while enhancing innovative production capabilities [2] - The company has established a multinational medical device platform centered in China, with a focus on global outreach and strengthened R&D capabilities [2] Group 2: Market and Supply Chain Adjustments - Bluefan Medical has strategically exited the U.S. market, redirecting focus towards emerging markets in China, Southeast Asia, and BRICS nations, while enhancing its presence in traditional European markets [3] - The company has optimized its global supply chain to mitigate risks associated with critical raw materials, achieving a high level of domestic supplier verification for 99% of its raw materials [3] Group 3: Manufacturing and Revenue Growth - The company has developed a three-location production strategy in Germany, Singapore, and China, ensuring robust risk resilience and localizing operations to cover global non-U.S. markets [4] - Bluefan Medical's heart and brain division has achieved significant market penetration, with a projected revenue of over 1.1 billion in 2024 and a 26% year-on-year growth in Q1 2025 [4] Group 4: Domestic Market Opportunities - The trade war has created a favorable environment for domestic high-end medical device replacements, with Bluefan Medical poised to fill supply gaps left by U.S. imports due to retaliatory tariffs [7] - The company has developed innovative products that outperform U.S. imports in several medical fields, enhancing its competitive edge [7] Group 5: Investment and Future Outlook - Bluefan Medical is expanding its investment in related fields such as ventricular assist devices and minimally invasive surgery, with several products already approved [8] - The company aims to strengthen its domestic sales network and become a leading player in the domestic market for high-end medical devices, adhering to a development philosophy focused on innovation and internationalization [8]

Core Viewpoint - China's foreign trade in goods reached 10.3 trillion yuan in the first quarter of this year, showing a year-on-year growth of 1.3%, with seven provinces contributing significantly to this growth [1] Group 1: Trade Performance - Guangdong, Jiangsu, Zhejiang, Shanghai, Beijing, Shandong, and Fujian accounted for three-quarters of the national total trade value [1] - Shandong province achieved a remarkable increase in exports to 105 countries along the Belt and Road, with 89 countries experiencing double-digit growth [1][2] - In the first two months of this year, Shandong's import and export growth reached 321.8 billion yuan, the highest among all provinces [1] Group 2: Industry and Innovation - High technology has become a key factor for Shandong manufacturing to penetrate overseas markets, with companies like Zhongtong Bus leveraging energy efficiency, safety, and intelligence [2][3] - Shandong's traditional and emerging industries saw synchronized export growth, with high-tech products increasing by 41% [4][6] - Companies like Aodes and Weichai Power are successfully exporting innovative products, with Aodes achieving over 70% of its sales from exports [3][4] Group 3: Policy Support - Shandong has implemented a series of policies to boost foreign trade, including measures to expand intermediate goods trade and support for cross-border e-commerce [3][6][8] - The province plans to support enterprises in participating in over 360 overseas exhibitions and organizing 50 international procurement activities [8] Group 4: Market Demand and Adaptation - Companies are adapting to market demands by diversifying their product offerings, as seen with Blue Sail Medical's shift towards European and Belt and Road markets [7] - Jinboke Health Technology achieved record export figures by focusing on technological innovation and launching new products [7]

| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2025-036 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 关于暂不向下修正"蓝帆转债"转股价格的公告 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。 特别提示： 1、截至 2025 年 5 月 7 日，蓝帆医疗股份有限公司（以下简称"公司"）股价已 出现连续三十个交易日中至少有十五个交易日的收盘价低于当期转股价格 85%的情形， 已触发"蓝帆转债"转股价格向下修正条件。 2、经公司第六届董事会第二十二次会议审议通过，公司董事会决定本次不向下 修正"蓝帆转债"转股价格。自 2025 年 5 月 8 日之后，若再次触发"蓝帆转债"转股 价格的向下修正条件，届时公司董事会将再次召开会议决定是否行使"蓝帆转债"转 股价格向下修正权利。 一、可转债发行上市基本情况 （一）可转债发行情况 经中国证券监督管理委员会"证监许可〔2020〕710 号"文核准，公司于 2020 年 5 月 28 日公开发行了 3,144.04 万 ...

| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2025-035 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 第六届董事会第二十二次会议决议公告 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 蓝帆医疗股份有限公司（以下简称"公司"）第六届董事会第二十二次会议于 2025 年 5 月 6 日以电子邮件的方式发出通知，于 2025 年 5 月 7 日以通讯表决的方式召开。 本次会议应参加会议董事 7 人，实际参加会议董事 6 人，全体董事以通讯的方式出席 会议；董事钟舒乔先生因公务原因书面委托董事刘文静女士出席会议并代为行使表决 权。公司董事长刘文静女士主持了本次会议。会议的通知、召开、表决程序符合《中华 人民共和国公司法》和《蓝帆医疗股份有限公司章程》的规定。 二、董事会会议审议情况 审议并通过了《关于不向下修正"蓝帆转债"转股价格的议案》。 截至2025年5月7日，公司股票已出现连续三十个交易日中至少有十五个交易日的 收盘价低于当期转股 ...

Core Viewpoint - As of May 6, 2025, BluFan Medical (002382) closed at 5.13 yuan, reflecting a 1.58% increase, with a trading volume of 223,200 hands and a transaction value of 113 million yuan [1] Group 1: Financial Performance - BluFan Medical reported a main revenue of 1.478 billion yuan for Q1 2025, representing a year-on-year increase of 1.59% [2] - The net profit attributable to shareholders was 77.0223 million yuan, showing a significant year-on-year increase of 177.86% [2] - The company’s gross profit margin stood at 17.17%, while the net profit margin was 5.58% [2] Group 2: Market Position and Ratios - The total market capitalization of BluFan Medical is 5.167 billion yuan, ranking 53rd in the medical device industry [2] - The company has a price-to-earnings ratio (P/E) of 16.77, significantly lower than the industry average of 52.22, ranking 11th in the industry [2] - BluFan Medical's price-to-book ratio (P/B) is 0.64, the best in the industry, compared to the industry average of 3.09 [2] Group 3: Capital Flow Analysis - On May 6, 2025, the net outflow of main funds was 4.8817 million yuan, accounting for 4.31% of the total transaction value [1] - Retail investors experienced a net outflow of 31,800 yuan, representing 0.03% of the total transaction value [1] - Over the past five days, the stock has seen fluctuating capital flows, with notable inflows and outflows from both main and retail investors [1]

Revenue and Profit - The company reported total revenue of 1.478 billion yuan in Q1 2025, representing a year-on-year increase of 1.59% [2] - The net profit attributable to shareholders reached 77.0223 million yuan, a significant year-on-year increase of 177.86%, while the non-recurring net profit remained negative at -60.7907 million yuan, but improved by 51.02% year-on-year [2] Key Financial Indicators - The gross profit margin was 17.17%, an increase of 17.09 percentage points year-on-year, and the net profit margin was 5.58%, up 182.28 percentage points year-on-year [3] - Total operating expenses (selling, administrative, and financial expenses) amounted to 204 million yuan, accounting for 13.78% of revenue, a decrease of 12.53 percentage points year-on-year [3] - Earnings per share were 0.08 yuan, a year-on-year increase of 180.0%, while the net asset per share was 8.01 yuan, down 10.22% year-on-year [3] Cash Flow and Debt - The company had cash and cash equivalents of 2.226 billion yuan, an increase of 14.57% year-on-year, while accounts receivable rose to 1.18 billion yuan, up 20.16% year-on-year [4] - Interest-bearing debt stood at 5.292 billion yuan, an increase of 3.78% year-on-year, with a cash to current liabilities ratio of only 85.43%, indicating potential short-term repayment pressure [4] Business Model and Financing - The company's performance is primarily driven by research and marketing efforts, with total financing since its listing amounting to 6.523 billion yuan and total dividends paid reaching 1.348 billion yuan, resulting in a dividend financing ratio of 0.21 [5] Summary - Overall, the company achieved slight revenue growth and a significant rebound in net profit in Q1 2025, but the negative non-recurring net profit and cash flow and debt situation warrant further attention [6]