关于召开 2024 年度股东大会的提示性公告 证券代码：300206 证券简称：理邦仪器 公告编号：2025-026 深圳市理邦精密仪器股份有限公司 关于召开2024年度股东大会的提示性公告 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。 深圳市理邦精密仪器股份有限公司（以下简称"公司"）第五届董事会 2025 年 第一次会议决定于 2025 年 5 月 15 日（星期四）在深圳市坪山区坑梓街道金沙社 区金辉路 15 号理邦仪器工业园会议室召开 2024 年度股东大会，具体内容详见公 司于 2025 年 4 月 24 日在巨潮资讯网（www.cninfo.com.cn）披露的《关于召开 2024 年度股东大会的通知》，现将本次会议的有关事项提示如下： 一、召开会议的基本情况 1、 股东大会届次：2024 年度股东大会 2、 股东大会的召集人：公司第五届董事会 3、会议召开的合法、合规性： 公司于 2025 年 4 月 23 日召开的第五届董事会 2025 年第一次会议审议通过 了《关于提请召开 2024 年度股东大会》的议案，本次会议的召开程序符合有关 法律法 ...

Group 1 - The core viewpoint of the articles highlights the performance and market position of the company, Libang Instrument, within the medical device industry, noting its stock price, market capitalization, and financial metrics [1][2] - As of May 6, the stock price of Libang Instrument closed at 11.85 yuan, with a PE ratio of 36.41, which is the lowest in the past 20 days, and a total market value of 6.869 billion yuan [1] - The average PE ratio for the medical device industry is 48.90, with a median of 36.41, placing Libang Instrument at the 75th position in the industry ranking [1][2] Group 2 - For Q1 2025, the company reported an operating income of 420 million yuan, a year-on-year decrease of 5.25%, while net profit reached 65.0882 million yuan, reflecting a year-on-year increase of 68.98% [2] - The company's gross profit margin stands at 58.34%, indicating a strong profitability despite the decline in revenue [2] - The main business of Libang Instrument includes the research, production, sales, and service of medical electronic devices and in vitro diagnostic products, with a diverse range of offerings [1]

Group 1 - The core viewpoint of the articles highlights the performance and valuation of the company, Ribang Instrument, within the medical device industry, noting its recent stock price increase and market capitalization [1][2] - As of April 30, Ribang Instrument's closing price was 11.68 yuan, reflecting a 2.01% increase, with a rolling PE ratio of 35.88, marking a new low in 19 days, and a total market value of 6.77 billion yuan [1] - The average PE ratio for the medical device industry is 48.11, with a median of 35.88, positioning Ribang Instrument at the 75th rank within the industry [1][2] Group 2 - For the first quarter of 2025, Ribang Instrument reported an operating income of 420 million yuan, representing a year-on-year decrease of 5.25%, while net profit reached 65.09 million yuan, showing a significant increase of 68.98% [2] - The company's gross profit margin stands at 58.34%, indicating a strong profitability despite the decline in revenue [2] - As of the first quarter of 2025, two institutions held shares in Ribang Instrument, with a total holding of 48.78 million shares valued at 591 million yuan [1]

Financial Performance - In Q1 2025, the company achieved a revenue of 420 million CNY, a decrease of approximately 5% year-on-year [3] - Domestic sales revenue was 166 million CNY, down about 20% year-on-year, while international sales revenue was 254 million CNY, up approximately 7% [3] - The overall gross margin for 2024 reached 57.92%, showing an improvement due to an increase in high-margin product sales [8] Market Outlook - The company maintains an optimistic outlook for domestic sales growth in 2025, anticipating recovery in market demand and the introduction of competitive new products [3] - The overseas patient monitoring business is expected to grow at a double-digit rate, with positive performance in Q1 2025 [11] AI Integration - The company established an AI-focused organization in March 2025, aiming to enhance efficiency and create value in ultrasound imaging and smart healthcare [4] - AI applications have significantly reduced examination times and improved patient flow management in emergency settings [4] Supply Chain and Tariff Impact - Components imported from the U.S. account for approximately 0-10% of the main product costs, with ongoing adjustments to ensure supply chain stability amid tariff uncertainties [9] - The company has initiated capacity expansion for its U.S. subsidiary to mitigate the impact of increased tariffs, with completion expected by June 2025 [7] Product Development and Strategy - The i500 wet blood gas product has been cautiously promoted since Q4 2024, with a focus on long-term market leadership and customer satisfaction [12] - The company is actively monitoring the impact of price reductions in IVD products due to centralized procurement policies, which have limited effects on its business [14] Inventory Management - By the second half of 2024, domestic channel inventory levels have returned to normal, allowing for a more stable sales environment [13] - The company has optimized its internal sales team to enhance competitiveness in the domestic market [7] Health Care Product Promotion - The domestic market strategy for personal health care products includes leveraging e-commerce platforms and extending the company's strong brand influence in obstetrics [15]

Summary of the Conference Call for 理邦仪器 (Ribao Instrument) Company Overview - **Company**: 理邦仪器 (Ribao Instrument) - **Industry**: Medical Devices and Diagnostics Key Points Financial Performance - In 2024, the company's revenue was 1.83 billion yuan, a decrease of approximately 5% year-on-year, while profit was 160 million yuan, down about 26% [3] - For Q1 2025, revenue was 420 million yuan, a slight decline, but profit increased by over 60% to 65 million yuan due to reduced marketing bonus provisions [2][5] - Domestic sales fell by about 26%, while international sales grew by 14%, with overseas revenue now accounting for 60% of total sales [2][3] Sales and Market Dynamics - The company adjusted its domestic sales system, limiting distributor inventory to 25% of annual sales to improve business health and transparency, which temporarily affected sales [2][7] - The company expects domestic sales to benefit from economic recovery and improved product competitiveness in 2025 [2][8] - In Q1 2025, domestic sales were approximately 160 million yuan, down about 15%, while international sales reached 254 million yuan, an increase of 8% [6] Product Development and AI Integration - The company established an AI application project team to explore AI applications in ultrasound imaging, patient monitoring, and in vitro diagnostics, aiming to enhance efficiency and reduce software testing time [2][10] - The I500 real-time blood gas analyzer holds an 80% market share and has reached mass supply status after successful clinical testing [26] International Expansion and Trade Challenges - The US-China tariff war has led to a pause in direct exports to the US, but the company has mitigated impacts by building inventory and expanding production capacity in the US [4][15] - The company has opened new offices in France and Mexico to enhance its international presence and local operations [14][24] Future Outlook - The company is optimistic about the domestic market in 2025, expecting recovery in purchasing demand and improved sales performance due to recent adjustments in the sales system [7][8] - The company anticipates continued growth in international markets, with a focus on high-margin products and the development of new technologies [18][21] Challenges and Opportunities - The company faces challenges from pricing policies and competition in the domestic market but sees opportunities in the blood gas product line, which has significant growth potential [20][22] - The company aims to enhance operational efficiency and maintain steady growth through strategic adjustments and technological advancements [22][32] Miscellaneous - The company received recognition as the best partner in a collaboration with the Gates Foundation for developing handheld ultrasound devices, indicating its rising status in global medical projects [2][13] This summary encapsulates the key insights from the conference call, highlighting the company's financial performance, market dynamics, product development, international expansion, and future outlook.

证券研究报告·公司点评报告·医疗器械 理邦仪器（300206） 2024 年报及 25Q1 季报点评：业绩符合预期， 海外市场稳步推进 买入（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 1,938 | 1,834 | 2,020 | 2,226 | 2,454 | | 同比（%） | 11.22 | (5.35) | 10.10 | 10.19 | 10.28 | | 归母净利润（百万元） | 221.30 | 162.11 | 202.85 | 253.60 | 304.13 | | 同比（%） | (5.00) | (26.75) | 25.13 | 25.02 | 19.93 | | EPS-最新摊薄（元/股） | 0.38 | 0.28 | 0.35 | 0.44 | 0.52 | | P/E（现价&最新摊薄） | 29.57 | 40.37 | 32.26 | 25.81 | 21.52 | [Table ...

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company's performance in 2024 is in line with expectations, with total revenue of 1.834 billion yuan, a decrease of 5.35% year-on-year, and a net profit attributable to shareholders of 162.11 million yuan, down 26.75% year-on-year [8] - The company is focusing on six major medical fields and has seen strong performance in overseas markets, with overseas revenue reaching 1.098 billion yuan, an increase of 14.54% [8] - The introduction of innovative products, such as the i500 wet blood gas analyzer, has significantly improved testing efficiency and patient experience [8] - The company has adjusted its net profit forecasts for 2025-2026 due to short-term pressures from domestic procurement, with expected net profits of 203 million yuan and 254 million yuan respectively [8] Financial Summary - Total revenue forecast for 2024 is 1.834 billion yuan, with a projected increase to 2.020 billion yuan in 2025 and 2.226 billion yuan in 2026 [1][9] - The net profit attributable to shareholders is expected to decline to 162.11 million yuan in 2024, with a recovery to 202.85 million yuan in 2025 and 253.60 million yuan in 2026 [1][9] - The earnings per share (EPS) is projected to be 0.28 yuan in 2024, increasing to 0.35 yuan in 2025 and 0.44 yuan in 2026 [1][9] - The company maintains a high gross margin of 58.34% in Q1 2025, despite rising raw material costs [8]

Core Viewpoint - In 2024, the company reported a revenue of 1.834 billion yuan, a year-on-year decrease of 5.35%, and a net profit attributable to shareholders of 162 million yuan, down 26.75% [2] Revenue Breakdown - Domestic market revenue decreased significantly, reaching 736 million yuan, a decline of 24.82%, while international market revenue increased to 1.098 billion yuan, a growth of 14.54% [2] - The company’s revenue from in vitro diagnostics was 374 million yuan, up 5.14%, while patient monitoring revenue fell by 15.56% to 527 million yuan [3] Cash Flow and Profitability - There was a significant difference between cash flow from operating activities and net profit due to increased accounts payable and reduced inventory, leading to higher cash flow despite lower net profit [3] - In Q1 2025, the company reported a revenue of 420 million yuan, a decline of 5.2%, but net profit increased by 69% to 65.09 million yuan [3] International Market Performance - The company’s overseas revenue proportion rose to 60%, with the U.S. market accounting for about 10% of total revenue [4] - Key international business segments such as electrocardiogram diagnostics and ultrasound imaging remained stable, while in vitro diagnostics and patient monitoring saw significant growth [4] Research and Development - Cumulative R&D investment exceeded 2.71 billion yuan since the company’s listing, with 340 million yuan spent in the reporting period, representing 18.55% of revenue [5] - R&D investment decreased by approximately 7 million yuan compared to 2023, and the number of R&D personnel reduced from 789 to 728 [5] Strategic Outlook - The company plans to strengthen its domestic sales system and leverage policy benefits in the medical device sector while continuing its global diversification strategy [5]

Core Viewpoint - In 2024, the company experienced a decline in revenue and net profit, but a significant increase in operating cash flow indicates improved operational quality [1][7]. Financial Performance Overview - The company reported a revenue of 1.83 billion yuan, a decrease of 5.35% from the previous year [2]. - Net profit attributable to shareholders was 162.11 million yuan, down 26.75% year-on-year [2]. - The net cash flow from operating activities surged by 145.99% to 371.36 million yuan, primarily due to reduced cash outflows for purchases and taxes [2]. Segment Analysis - Patient monitoring business revenue fell by 15.56% to 527.31 million yuan, largely due to weak domestic demand [4]. - Maternal and child health business revenue decreased by 5.02% to 299.71 million yuan [4]. - Electrocardiogram diagnostic business saw a slight decline of 3.25% to 283.78 million yuan [4]. - In vitro diagnostics business grew by 5.14% to 373.81 million yuan, benefiting from strong product offerings [4]. - Ultrasound imaging business revenue increased by 2.35% to 275.40 million yuan, supported by advancements in technology [4]. Research and Development - The company invested 340.24 million yuan in R&D, accounting for 18.55% of revenue, with a focus on various core technologies [5]. - New strategic products launched during the year include the i500 automatic blood gas electrolyte analyzer and the Nano series handheld ultrasound diagnostic device [5]. Financial Ratios and Indicators - The gross profit margin improved slightly to 57.92%, indicating competitive product positioning [3]. - The debt-to-asset ratio stood at 16.24%, reflecting low financial risk [3]. - Inventory at year-end decreased by 12.12% to 351.91 million yuan, suggesting effective inventory management [3].

深圳市理邦精密仪器股份有限公司 证券代码：300206 证券简称：理邦仪器 公告编号：2025-011 深圳市理邦精密仪器股份有限公司 关于向银行申请综合授信额度的公告 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。 深圳市理邦精密仪器股份有限公司（以下简称"公司"）于 2025 年 4 月 23 日召开第五届董事会 2025 年第一次会议，审议通过了《关于向银行申请综合授 信额度》的议案。为保障公司有充足的资金来支持和拓展业务，公司拟向部分商 业银行申请综合授信额度，现将具体事宜公告如下： | 序号 | 银行名称 | 综合授信额度（人民币） | | 授信期限 | | --- | --- | --- | --- | --- | | 1 | 招商银行股份有限公司深圳分行 | 2 | 亿元 | 2 年 | | 2 | 中国银行股份有限公司前海蛇口分行 | 3 | 亿元 | 1 年 | 特此公告。 深圳市理邦精密仪器股份有限公司 董事会 二○二五年四月二十四日 1 以上授信期限自上述事项审批通过及授信合同签订之日起计算，授信额度及 授信期限最终以商业银行的实际审批为 ...