Group 1 - The stock price of Dabo Medical (002901) closed at 49.25 yuan on November 10, 2025, with an increase of 0.43% and a trading volume of 14,700 shares, resulting in a transaction amount of 72.50 million yuan [1][2] - On November 10, the net outflow of funds from major investors was 2.05 million yuan, while retail investors saw a net inflow of 4.86 million yuan [2] - The first exercise period of the 2024 stock option incentive plan was completed, with 643 participants exercising a total of 2.1559 million shares, accounting for 0.52% of the company's total share capital, at an exercise price of 23.39 yuan per share [1][2] Group 2 - The shares from the stock option plan will be listed and tradable starting November 7, 2025, and the company has completed the necessary procedures for the exercise [1][2]

Core Points - The stock of Dabo Medical (002901) closed at 49.25 yuan on November 10, 2025, marking a 0.43% increase from the previous trading day, with a total market capitalization of 20.39 billion yuan [1] - The company announced that the first exercise conditions of the 2024 stock option incentive plan have been met, allowing 643 participants to exercise a total of 2.1559 million shares, which represents 0.52% of the total share capital [1] - The exercise price for the stock options is set at 23.39 yuan per share, with the shares sourced from A-shares repurchased from the secondary market [1] Trading Information - On the day of the report, Dabo Medical opened at 48.99 yuan, reached a high of 49.43 yuan, and a low of 48.83 yuan, with a trading volume of 72.5032 million yuan and a turnover rate of 0.51% [1] Stock Option Plan - The stock options will be exercised in a centralized manner, and the shares will be listed for trading starting November 7, 2025 [1] - The company has completed the necessary procedures for the stock option exercise, and the total number of shares remains unchanged, maintaining compliance with listing conditions [1]

Group 1 - Xiamen Fuchuang Dabo Medical Industry Venture Capital Partnership has been established with a capital contribution of 300 million yuan [1] - The partnership focuses on venture capital investments, specifically limited to investing in unlisted companies [1] - The partnership is co-funded by Fujian Investment Development Group Co., Ltd. and Guangxi Dabo Shangtong Venture Capital Co., Ltd. among others [1]

Group 1 - The stock price of Dabo Medical (002901) closed at 49.04 yuan on November 7, 2025, down by 1.15% with a turnover rate of 0.56% and a trading volume of 16,000 shares, resulting in a transaction amount of 78.4578 million yuan [1][2] - On November 7, the net outflow of main funds was 6.2212 million yuan, while retail investors saw a net inflow of 7.1333 million yuan [2] - The company announced the completion of the first exercise period of its 2024 stock option incentive plan, with 2.1559 million shares being exercised, accounting for 0.52% of the total share capital, at an exercise price of 23.39 yuan per share [1][2] Group 2 - The exercised shares will be listed and circulated on November 7, 2025, and the company has completed the relevant exercise procedures, maintaining the total number of shares and ensuring compliance with listing conditions [1]

Investment Rating - The industry investment rating is maintained as "Outperform the Market" [2][57]. Core Insights - The orthopedic consumables sector has shown continuous improvement in performance during the first three quarters of 2025, with a positive trend in overseas expansion [3][10]. - The overall revenue of the orthopedic consumables sector increased by 17% year-on-year for Q1-Q3 2025, with net profit attributable to shareholders rising by 81% [5][10]. - The gross profit margin for the sector improved to 66% in Q1-Q3 2025, reflecting effective cost control and optimization [4][10]. - The trend of companies actively pursuing international markets is expected to become a significant growth driver [10][27]. Summary by Sections 1. Orthopedic Consumables Q3 2025 Report Analysis - The orthopedic consumables sector's revenue for Q1-Q3 2025 reached 49.18 billion, with a year-on-year growth of 17% [9]. - The gross profit margin for Q3 2025 was reported at 67%, an increase of 2.06 percentage points compared to the previous year [10]. - The net profit attributable to shareholders for Q3 2025 doubled year-on-year, indicating significant performance improvement [10]. 2. Segment Analysis - The joint business segment has seen stable growth due to the continuation of centralized procurement and an increase in both volume and price for leading companies [19][24]. - The spinal segment is experiencing a steady execution of centralized procurement, with leading domestic brands increasing their market share [25]. - The trend of domestic companies expanding overseas is gaining momentum, with a focus on product innovation and international development [27][29]. 3. Related Company Q3 Report Summary - Major companies in the sector, such as Dabo Medical, Weigao Orthopedics, and Spring Medical, have shown strong revenue growth and profitability improvements in Q3 2025 [12][41][45]. - Dabo Medical reported a revenue of 18.76 billion, up 22.69% year-on-year, with a net profit of 4.25 billion, reflecting a 77.03% increase [45]. - Spring Medical achieved a remarkable revenue growth of 109.5% in Q3 2025, turning a previous loss into a profit of 770.6 million [33].

第一个行权期行权结果暨股份上市的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 特别提示： 1、本次实际行权的激励对象共 643 名，行权股票的上市流通数量为 215.59 万股，占公司目前总股本 41,401.9506 万股的 0.52%，行权价格为 23.39 元/股（调 整后）。 2、本次行权的股票期权代码：037472，期权简称：大博 JLC1。 3、本次股票期权行权采用集中行权模式。 4、本次行权股票来源：公司从二级市场回购的本公司人民币 A 股普通股股 票。 5、本次股票期权行权后，公司股份仍具备上市条件。 证券代码：002901 证券简称：大博医疗 公告编号：2025-050 大博医疗科技股份有限公司 关于 2024 年股票期权激励计划首次授予股票期权 6、本次行权股票上市流通时间为：2025 年 11 月 7 日。 大博医疗科技股份有限公司（以下简称"公司"）于 2025 年 10 月 28 日召 开第三届董事会第二十次会议和第三届监事会第十九次会议，审议通过了《关于 2024 年股票期权激励计划首次授予股票期权第一个行权期行权条件成就的 ...

Group 1 - The stock price of Dabo Medical (002901) closed at 51.85 yuan on November 3, 2025, with an increase of 3.62% and a trading volume of 51,100 shares, resulting in a transaction amount of 260 million yuan [1] - On November 3, the net inflow of main funds was 5.9671 million yuan, accounting for 2.29% of the total transaction amount, while retail investors experienced a net outflow of 5.7894 million yuan, representing 2.22% of the total transaction amount [1][3] Group 2 - On November 3, Dabo Medical announced that its shareholder, Dabo Medical International Investment Co., Ltd., reduced its holdings by 1,968,000 shares on October 31, 2025, which is 0.4753% of the total share capital [2][3] - Following the reduction, the combined shareholding of Dabo International and its concerted parties decreased from 84.24% to 83.77%, in line with a previously disclosed reduction plan [2][3]

Core Viewpoint - The company DaBo Medical (002901.SZ) announced a share reduction by its shareholder DaBo International, which may impact the ownership structure and investor sentiment [1] Summary by Relevant Sections Shareholder Activity - DaBo International reduced its holdings by 1.968 million shares through block trading on October 31, 2025, representing 0.48% of the company's total share capital [1] - Following this reduction, DaBo International and its concerted parties hold a total of 347 million shares, decreasing their ownership percentage from 84.24% to 83.77% of the total share capital [1]

Core Points - The company DaBo Medical announced that its shareholder DaBo International reduced its stake by 1.968 million shares through block trading on October 31, 2025, accounting for 0.48% of the total share capital [1] - Before the reduction, DaBo International held 82.9269 million shares, representing 20.03% of the total shares; after the reduction, its holdings decreased to 80.9589 million shares, reducing its stake to 19.55% [1] - The combined shareholding ratio of DaBo International and its concerted parties decreased from 84.24% to 83.77%, reaching a 1% integer threshold [1] - This reduction aligns with the previously disclosed plan, and the reduction plan has not yet been fully implemented [1]

证券代码：002901 证券简称：大博医疗 公告编号：2025-049 大博医疗科技股份有限公司 关于持股 5%以上股东减持股份触及 1%整数倍的公告 股东大博医疗国际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信息披露内容的真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 董事会 大博医疗科技股份有限公司（以下简称"公司"）于 2025 年 8 月 27 日披露 了《关于持股 5%以上股东股份减持计划的预披露公告》（公告编号：2025-033）。 持有公司 82,926,901 股股份（占公司当前总股本 414,019,506 股的比例为 20.03%， 占剔除回购专户股份数量后公司总股本 406,609,606 股的比例为 20.39%）的股东 大博医疗国际投资有限公司（以下简称"大博国际"）计划自本公告披露之日起 15 个交易日后的 3 个月内（即 2025 年 9 月 18 日至 2025 年 12 月 17 日，根据相 关法律法规禁止减持的期间除外）以集中竞价或大宗交易方式减持公司股份不超 过 8,280,390 ...