Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown a decline in recent trading, with a drop of 0.34% to 13,489.07 points, despite a 4.10% increase over the past month [1] Group 1: Index Performance - The China Securities Index for Healthcare Equipment and Services has decreased by 3.47% over the past three months and by 1.13% year-to-date [1] - The index is based on a sample of listed companies in the healthcare sector, reflecting the overall performance of these securities [1] Group 2: Index Composition - The top ten weighted companies in the index are: Mindray Medical (9.53%), Aier Eye Hospital (7.89%), United Imaging (7.72%), Aimeike (3.51%), New Industry (3.21%), Huatai Medical (3.16%), Yuyue Medical (3.1%), Meinian Onehealth (2.21%), Lepu Medical (2.06%), and Jiuan Medical (2.02%) [1] - The index's holdings are primarily listed on the Shenzhen Stock Exchange (60.50%) and the Shanghai Stock Exchange (39.50%) [1] - The index exclusively comprises companies from the pharmaceutical and healthcare sector, with a 100% allocation [1] Group 3: Index Adjustment and Fund Tracking - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [2] - Public funds tracking the healthcare index include various Southern and Tianhong funds, as well as ETFs from multiple financial institutions [2]

Core Viewpoint - The credit rating agency maintains the credit rating of Lepu Medical Technology (Beijing) Co., Ltd. at AA+ with a stable outlook, reflecting the company's strong position in the cardiovascular medical device sector, robust R&D capabilities, and good financial flexibility, despite concerns over declining profitability and operational cash flow [2][30]. Financial Overview - Total assets increased from 244.85 billion in 2022 to 250.22 billion in 2023, with a projected rise to 252.33 billion in 2025 [6]. - Total liabilities decreased from 81.13 billion in 2022 to 75.25 billion in 2023, with a slight increase to 80.74 billion in 2025 [6]. - Net profit dropped significantly from 22.46 billion in 2022 to 12.92 billion in 2023, with a further decline to 3.77 billion in 2025 [6]. - Operating revenue fell from 106.09 billion in 2022 to 79.80 billion in 2023, with a projected decrease to 61.03 billion in 2025 [6]. Business Performance - The company maintains a leading position in the cardiovascular medical device market, with a market share ranking among the top in China [11]. - Revenue from the medical device segment decreased by 9.47% in 2024, while the in vitro diagnostic business saw a significant decline of 51.31% [12]. - The pharmaceutical segment's revenue was heavily impacted by national pricing policies, leading to a substantial drop in sales [14]. R&D and Innovation - The company continues to invest heavily in R&D, with expenditures amounting to 12.84 billion in 2024, representing 12.10% of total revenue [19]. - The R&D pipeline includes significant innovations in cardiovascular interventions, with several products expected to enter commercialization in the next three years [16]. Market Environment - The external environment for the medical device market remains favorable, with substantial growth in downstream demand [7]. - The overall pharmaceutical market is expected to maintain strong demand in 2025, with continued resilience in the industry [10]. Credit Rating and Outlook - The credit rating agency emphasizes that the company's credit quality is supported by its strong market position and financial flexibility, despite recent declines in revenue and profitability [30]. - The stable outlook indicates that the company is expected to maintain its credit rating unless significant adverse changes occur in its financial or operational performance [30].

乐普（北京）医疗器械股份有限公司 2025 年度跟踪评级报告 编号：信评委函字[2025]跟踪 0302 号 乐普（北京）医疗器械股份有限公司 2025 年度跟踪评级报告 声 明 中诚信国际信用评级有限责任公司 2025 年 5 月 29 日 2 ⚫ 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 ⚫ 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 ⚫ 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 ⚫ 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 ⚫ 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报告采取投资、借贷等交易行为，也不能作为任何人购买 ...

Company Overview - Lepu Medical's closing price on May 28 was 11.12 yuan, down 1.42%, with a rolling PE ratio of 145.62 times and a total market value of 20.912 billion yuan [1] - The company operates in the medical device, pharmaceutical, medical services, and health management sectors, with its main products being medical devices, pharmaceuticals, and health management services [1] Financial Performance - For Q1 2025, Lepu Medical reported revenue of 1.736 billion yuan, a year-on-year decrease of 9.67%, and a net profit of 379 million yuan, down 21.44% year-on-year, with a gross profit margin of 64.03% [1] Shareholder Information - As of March 31, 2025, Lepu Medical had 94,228 shareholders, an increase of 583 from the previous count, with an average holding value of 352,800 yuan and an average holding quantity of 27,600 shares [1] Industry Comparison - The average PE ratio for the medical device industry is 48.81 times, with a median of 35.46 times, placing Lepu Medical at the 113th position in the industry ranking [2]

乐普（北京）医疗器械股份有限公司发布了关于"乐普转2"回售的第五次提示性公告。回售价格设定为 100.242元人民币/张（含息、税），回售期为2025年5月19日至2025年5月23日。发行人资金到账日定为 2025年5月28日，回售款划拨日为2025年5月29日，投资者回售款到账日为2025年5月30日。值得注意的 是，回售期内"乐普转2"将停止转股，但此次回售不具有强制性。回售权利方面，"乐普转2"持有人可以 选择回售部分或全部未转股的"乐普转2"。回售程序和付款方式详见公告。备查文件包括公司关于实 施"乐普转2"回售的申请、法律意见书及核查意见。 截至2025年5月23日收盘，乐普医疗(300003)报收于11.23元，上涨0.45%，换手率0.86%，成交量13.87万 手，成交额1.57亿元。 当日关注点 交易信息汇总 5月23日，乐普医疗的资金流向显示，主力资金净流出628.38万元；游资资金净流出91.33万元；而散户 资金则净流入719.71万元。 公司公告汇总关于"乐普转2"回售的第五次提示性公告 关于"乐普转2"恢复转股的提示性公告 乐普（北京）医疗器械股份有限公司还发布了关于"乐普转2" ...

证券代码：300003 证券简称：乐普医疗 公告编号：2025-049 乐普（北京）医疗器械股份有限公司 关于控股股东部分股权解除质押的公告 公司控股股东蒲忠杰先生及其一致行动人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。 乐普（北京）医疗器械股份有限公司（以下简称：公司）近日接到公司控股 股东蒲忠杰先生的通知，将其持有的本公司部分股权办理了解除质押。具体内容 如下： 一、股份解除质押基本情况 1 | | 持股数量 | 持股 | 累计质押股份 | 占其所 | 占公司 | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东名称 | | | | 持股份 | 总股本 | 已质押股份 | 占已质 | 未质押股份 | 占未质 | | | （股） | 比例 | 数量（股） | 比例 | 比例 | 限售和冻结 | 押股份 | 限售和冻结 | 押股份 | | | | | | | | 数量（股 ...

Core Viewpoint - The China Securities Index for Healthcare Equipment and Services has shown a decline of 1.26% recently, reflecting broader market trends in the healthcare sector [1]. Group 1: Index Performance - The China Securities Index for Healthcare Equipment and Services closed at 13,370.1 points with a trading volume of 11.048 billion yuan [1]. - Over the past month, the index has increased by 2.41%, but it has decreased by 7.73% over the last three months and is down 1.09% year-to-date [1]. Group 2: Index Composition - The index is composed of listed companies in the healthcare sector, selected from the broader China Securities Index to reflect the overall performance of healthcare-related securities [1]. - The top ten weighted companies in the index include Mindray Medical (9.6%), Aier Eye Hospital (8.13%), and United Imaging Healthcare (7.77%) among others [1]. - The index's holdings are primarily listed on the Shenzhen Stock Exchange (60.46%) and the Shanghai Stock Exchange (39.54%) [1]. Group 3: Fund Tracking - Several public funds track the China Securities Index for Healthcare Equipment and Services, including Southern China Securities Index Healthcare Equipment and Services Link A, and Tianhong China Securities Index Healthcare Equipment and Services ETF [2].

特别提示： 1、 债券代码：123108 债券简称：乐普转 2 2、 转股起止时间：2021 年 10 月 8 日至 2026 年 3 月 29 日 3、 暂停转股时间：2025 年 5 月 19 日至 2025 年 5 月 23 日 4、 恢复转股时间：2025 年 5 月 26 日 证券代码：300003 证券简称：乐普医疗 公告编号：2025-047 债券代码：123108 债券简称：乐普转 2 乐普（北京）医疗器械股份有限公司 关于"乐普转 2"恢复转股的提示性公告 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。 根据规定，"乐普转 2"将在回售申报期结束后的次一交易日，即 2025 年 5 月 26 日起恢复转股。敬请公司可转换公司债券持有人留意。 1 特此公告。 乐普（北京）医疗器械股份有限公司 董事会 二○二五年五月二十二日 乐普（北京）医疗器械股份有限公司（以下简称：公司）股票2025年3月30 日至2025年5月15日连续三十个交易日的收盘价格低于"乐普转2"当期转股价 27.92元/股的70%（即19.54元/股），且"乐普转2"处于最后两 ...

乐普（北京）医疗器械股份有限公司 关于"乐普转 2" 回售的第四次提示性公告 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、回售价格：100.242 元人民币/张（含息、税） 2、回售期：2025 年 5 月 19 日至 2025 年 5 月 23 日 3、发行人资金到账日：2025 年 5 月 28 日 4、回售款划拨日：2025 年 5 月 29 日 | 证券代码：300003 | 证券简称：乐普医疗 | 公告编号：2025-046 | | --- | --- | --- | | 债券代码：123108 | 债券简称：乐普转 2 | | 5、投资者回售款到账日：2025 年 5 月 30 日 6、回售期内"乐普转 2"停止转股 7、本次回售不具有强制性 8、风险提示：投资者选择回售等同于以人民币 100.242 元/张（含息、税） 卖出持有的"乐普转 2"。截至本公告发出前的最后一个交易日，"乐普转 2" 的收盘价格高于本次回售价格，投资者选择回售可能会带来损失，敬请投资者注 意风险。 乐普（北京）医疗器械股份有限公司（以下简称"公司"） ...

证券代码：300003 证券简称：乐普医疗 公告编号：2025-043 债券代码：123108 债券简称：乐普转 2 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。 乐普（北京）医疗器械股份有限公司 乐普（北京）医疗器械股份有限公司 董事会 关于公司开立募集资金专户并授权签订 募集资金专户监管协议的公告 乐普（北京）医疗器械股份有限公司（以下简称"公司"）于 2025 年 4 月 17 日召开了第六届董事会第十四次会议和第六届监事会第十次会议，并于 2025 年 5 月 15 日召开了"乐普转 2"2025 年第一次债券持有人会议、2024 年年度 股东大会，均审议通过了《关于变更募投项目部分募集资金用途及相关事项》的 议案。具体内容详见公司分别于 2025 年 4 月 19 日、2025 年 5 月 15 日在巨潮 资讯网（www.cninfo.com.cn）披露的《关于变更募投项目部分募集资金用途及 相关事项的公告》（公告编号：2025-029）、《"乐普转 2"2025 年第一次债券持 有人会议决议公告》（公告编号：2025-037）、《2024 年年度 ...