北京金诚同达律师事务所 关于 内蒙古福瑞医疗科技股份有限公司 2023 年年度股东大会的 法律意见书 电话：010—5706 8585 传真：010—8515 0267 金诚同达律师事务所 法律意见书 北京金诚同达律师事务所 关于内蒙古福瑞医疗科技股份有限公司 2023 年年度股东大会的 法律意见书 金证法意[2024]字 0521 第 0268 号 致：内蒙古福瑞医疗科技股份有限公司 金证法意[2024]字 0521 第 0268 号 中国北京市建国门外大街1号国贸大厦A座十层 100004 根据《中华人民共和国公司法》（以下简称"《公司法》"）、《中华人民 共和国证券法》（以下简称"《证券法》"）、《上市公司股东大会规则》（以 下简称"《股东大会规则》"）、《深圳证券交易所创业板股票上市规则》等中 华人民共和国（以下简称"中国"，为本法律意见书之目的，不包括香港特别行 政区、澳门特别行政区和台湾地区）截至本法律意见书出具之日现行有效的法律、 行政法规、部门规章、规范性文件及《内蒙古福瑞医疗科技股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，北京金诚同达律师事务所（以下简 称"本所"）接受内蒙古 ...

内蒙古福瑞医疗科技股份有限公司 2023 年年度股东大会决议公告 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。 特别提示： 证券代码：300049 证券简称：福瑞股份 公告编号：2024-030 1、本次股东大会未出现否决议案的情形； 2、本次股东大会未涉及变更以往股东大会已通过的决议； 3、为尊重中小投资者利益，提高中小投资者对公司股东大会决议的重大事项的参与 度，本次股东大会对中小投资者单独计票。 3、会议召开的合法性、合规性：经公司第八届董事会第七次会议审议通过，决定召 开 2023 年年度股东大会，本次股东大会的召开符合有关法律法规、深圳证券交易所业务 规则和公司章程等的规定。 4、会议召开的日期、时间： （1）现场会议时间：2024 年 5 月 21 日（星期二）14:00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的具体时间为：2024 年 5 月 21 日 9:15~9:25、9:30~11:30、13:00~15:00；通过深圳证券交易所互联网投票系 统投票的时间为 2024 年 5 月 21 日 9:15~15:00 期间任 ...

证券代码：300049 证券简称：福瑞股份 公告编号：2024-029 内蒙古福瑞医疗科技股份有限公司 2024 年限制性股票激励计划内幕信息知情人及激励对象 买卖公司股票情况的自查报告 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。 内蒙古福瑞医疗科技股份有限公司（以下简称"公司"）于2024年1月31日召开 第八届董事会第六次会议及第八届监事会第六次会议，审议通过了《关于 <2024 年限制性股票激励计划（草案）>及其摘要的议案》，于2024年4月25日召开的第 八届董事会第七次会议和第八届监事会第七次会议审议通过《关于<2024年限制性 股票激励计划（草案修订稿）>及其摘要的议案》等相关议案。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）和《深圳证 券交易所创业板上市公司自律监管指南第1号——业务办理》等相关法律、法规的 规定，通过向中国证券登记结算有限责任公司深圳分公司查询，公司对2024年限 制性股票激励计划（以下简称"本激励计划"）内幕信息知情人及激励对象在本激励 计划草案首次公开披露前6个月内（即2023年7月31日至2024年1 ...

证券代码：300049 证券简称：福瑞股份 公告编号：2024-028 内蒙古福瑞医疗科技股份有限公司 监事会关于 2024 年限制性股票激励计划激励对象名单的核查意见 及公示情况说明 本公司及监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。 内蒙古福瑞医疗科技股份有限公司（以下简称"公司"）于2024年4月25日召开 第八届董事会第七次会议和第八届监事会第七次会议审议通过《关于<2024年限制 性股票激励计划（草案修订稿）>及其摘要的议案》等相关议案。具体内容详见公 司于2024年4月29日在巨潮资讯网（http://www.cninfo.com.cn）上披露的相关公告。 根据《上市公司股权激励管理办法》（以下简称"《管理办法》"）、《深圳证 券交易所创业板股票上市规则》（以下简称"《上市规则》"）、《深圳证券交易所 创业板上市公司自律监管指南第1号——业务办理》（以下简称《" 监管指南第1号》"） 等有关法律、法规、规范性文件以及《内蒙古福瑞医疗科技股份有限公司章程》 （以下简称"《公司章程》"）的相关规定，公司对2024年限制性股票激励计划（以 下简称"本激励计划 ...

证券代码：300049 证券简称：福瑞股份 公告编号：2024-027 内蒙古福瑞医疗科技股份有限公司 关于取消 2023 年年度股东大会部分提案暨 2023 年 年度股东大会补充通知的公告 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。 内蒙古福瑞医疗科技股份有限公司（以下简称"公司"）于 2024 年 4 月 25 日召开 的第八届董事会第七次会议，审议通过了《关于召开 2023 年年度股东大会的议案》。公 司决定于 2024 年 5 月 21 日召开 2023 年年度股东大会，具体内容详见公司于 2024 年 4 月 29 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于召开 2023 年年度股东大会的 通知》（公告编号：2024-012）。 公司于 2024 年 5 月 15 日召开了第八届董事会第八次会议，会议审议通过了《关于 取消 2023 年年度股东大会部分提案的议案》。鉴于公司拟聘的大华会计师事务所（特殊 普通合伙）近期收到中国证监会江苏监管局的行政处罚决定，被暂停从事证券服务业务 6 个月，根据相关法律法规规定，公司决定取消原 ...

Group 1: Company Strategy and Development - The company emphasizes the importance of R&D and has increased its R&D investment over the past three years, aligning with its strategic transformation towards managed medical care [2][3] - Future plans include enhancing R&D planning and market promotion of products and services, with specific arrangements to be detailed in regular reports [3] - The company aims to protect its intellectual property through a comprehensive strategy, including domestic and international patent protections [3] Group 2: Product and Market Performance - The sales volume of diagnostic instruments reported in the 2023 annual report was 1,142 units, excluding the GO model data [3] - The GO model is projected to generate approximately 200 million yuan in revenue for 2023, with an average annual output per unit estimated between 30-60 euros [3] - As of December 31, 2023, a total of 275 units of Fibroscan GO have been installed, with further installation data to be disclosed in upcoming reports [5] Group 3: Financial Goals and Performance Expectations - The company has set ambitious performance targets for 2024, aiming for a 100% year-on-year growth, with specific goals of 200 million, 300 million, and 400 million yuan over the next three years [4] - The company plans to enhance overseas investments and initiate internationalization efforts while improving internal management and corporate culture [4] Group 4: Investor Engagement and Feedback - Investors have suggested the development of health consumer products, particularly liver health supplements, to fill a gap in the company's offerings [2] - The company is open to strategic partnerships that align with its goals and can create synergies for rapid growth [3][4] - The management is committed to timely information disclosure regarding shareholder changes and other significant developments [4][5]

Investment Rating - The investment rating for the company is "Buy" [21][35]. Core Insights - The company experienced a slight revenue growth of 14.37% in 2023, achieving a total revenue of 1.154 billion yuan, while the net profit attributable to shareholders increased by 3.77% to 102 million yuan. The first quarter of 2024 showed a significant growth in net profit by 228.57% to 43 million yuan, driven by a recovery in the pharmaceutical business and sustained demand in the medical device sector [1][22]. - The company has launched a new pricing model based on per-use charges for its FibroScan devices, which is expected to generate continuous cash flow and open new growth avenues. The approval of NASH treatment drugs is anticipated to further boost the demand for related testing and screening, enhancing the sales volume of FibroScan products [2][18]. - A stock incentive plan was introduced in early 2024, aiming to grant 2.5 million shares, representing 1.14% of the total share capital, to 109 key personnel, indicating strong confidence in future growth [3][28]. Financial Performance Summary - In 2023, the company reported a revenue of 1.154 billion yuan, with a net profit of 102 million yuan. The revenue for Q4 2023 was 347 million yuan, while the first quarter of 2024 saw a revenue of 323 million yuan, marking a 33.35% increase [1][22]. - The company’s medical device segment achieved a revenue of 830 million yuan in 2023, reflecting a year-on-year growth of 35.4%, while the pharmaceutical segment faced a decline of 20.8% due to intensified market competition [1][22]. - The projected revenues for 2024-2026 are 1.607 billion yuan, 2.201 billion yuan, and 2.804 billion yuan, respectively, with expected growth rates of 39%, 37%, and 27% [7][35]. Profitability Metrics - The gross margin for 2023 was 74.74%, with a slight increase of 1.28 percentage points, while the net profit margin was 8.80%, showing a decrease of 0.90 percentage points [15]. - The company’s return on equity (ROE) is projected to rise significantly from 6.6% in 2023 to 25.4% by 2026, indicating improved profitability [9][31].

Investment Rating - The report maintains a positive outlook on Fibro, indicating a strong growth trajectory and confidence in the company's future through stock incentive plans [4][10]. Core Insights - FibroGo's per-use charging model and the launch of the new drug Resmetirom for MASH are expected to significantly expand the demand for liver fibrosis testing [2][11]. - The company reported a revenue of 1.15 billion yuan in 2023, a 14.4% increase year-on-year, with a net profit of 100 million yuan, up 3.8% [3][5]. - The first quarter of 2024 showed a remarkable revenue growth of 33.4% to 320 million yuan, with net profit soaring by 228.6% to 40 million yuan [3][5]. Summary by Sections Financial Performance - In 2023, the revenue breakdown shows medical device income at 830 million yuan (+35.4%), while pharmaceutical income decreased to 280 million yuan (-20.8%) [3][5]. - The company expects revenue growth for 2024-2026 to be 34.3%, 36.2%, and 30.2% respectively, with net profit projected to grow significantly [5][11]. Business Segments - The medical device segment is anticipated to continue its strong performance, with a projected gross margin of 90% for 2024-2026 [11][12]. - The pharmaceutical segment is transitioning to an academic-led sales model, with expected revenue growth of 18% annually from 2024 to 2026 [11][12]. Stock Incentive Plan - The company has proposed a stock incentive plan to grant approximately 3.5 million shares, representing 1.3% of the total share capital, with performance targets set for net profit over the next three years [4][10]. Market Outlook - The global market for liver fibrosis testing is expected to expand due to the new per-use charging model and the introduction of new drugs targeting MASH [2][11].

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected investment return exceeding 15% over the next 6-12 months [8]. Core Insights - The company's medical device business is experiencing rapid growth, with a projected increase in net profit margins. In 2023, the medical device segment generated revenue of 831 million yuan, a year-on-year increase of 35.4%, primarily driven by the sales of diagnostic equipment [4][15]. - The company is positioned as a leader in non-invasive screening for MASH (Metabolic Associated Steatotic Liver Disease), with its Fibroscan series products being included in liver disease detection guidelines by several authoritative institutions [4][15]. - The overall gross margin for the company improved to 74.7% in 2023, up 1.3 percentage points year-on-year, with the medical device segment achieving a gross margin of 89.8% [21]. Financial Summary - Revenue is projected to grow from 1,009 million yuan in 2022 to 2,603 million yuan by 2026, reflecting a compound annual growth rate (CAGR) of approximately 26.01% [5]. - Net profit is expected to increase significantly, from 98 million yuan in 2022 to 457 million yuan in 2026, with a notable growth rate of 105.12% in 2024 [5]. - Earnings per share (EPS) are forecasted to rise from 0.37 yuan in 2022 to 1.74 yuan in 2026, indicating strong profitability growth [5]. Profitability Metrics - The company's EBITDA margin is projected to improve from 24.5% in 2022 to 36.4% by 2026, reflecting enhanced operational efficiency [21]. - The return on equity (ROE) is expected to increase from 6.3% in 2022 to 18.0% in 2026, showcasing improved shareholder returns [5][21]. Market Position - The company is actively expanding its product distribution across major markets in Europe, Asia, and North America, enhancing its competitive position in the MASH screening market [15].