理邦仪器公告，第三季度营收为5.32亿元，同比增长15.72%；净利润为1.02亿元，同比增长118.28%。 前三季度营收为14.46亿元，同比增长4.63%；净利润为2.57亿元，同比增长49.29%。 ...

深圳市理邦精密仪器股份有限公司 2025 年第三季度报告 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完 整。 3.第三季度财务会计报告是否经过审计 □是 否 证券代码：300206 证券简称：理邦仪器 公告编号：2025-035 深圳市理邦精密仪器股份有限公司 2025 年第三季度报告 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。 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 | | --- | --- | --- | --- | --- | | | | 增减 | | 年同期增减 | | 营业收入（元） | 532,269,656.86 | 15.72% | 1,446,076,915.63 | ...

Core Viewpoint - The establishment of a localized manufacturing center in San Diego by Shenzhen Lifang Precision Instrument Co., Ltd. marks a significant step towards achieving full localization of its medical instrument products, enhancing its competitiveness in the North American market [2][3]. Group 1: Localization and Market Strategy - The new manufacturing center spans approximately 1,940 square meters and has received MDSAP certification, indicating compliance with international regulatory standards [2]. - This facility will enable Lifang to shorten service response times for North American clients and provide stable instrument supply and localized technical support, particularly in high-end monitoring and diagnostic equipment [2][3]. - The MDSAP certification covers major markets including the US, Canada, Australia, Japan, and the EU, which strengthens Lifang's competitive position in North America and lays the groundwork for future expansion into Asian and European high-end medical instrument markets [2][3]. Group 2: Implications for Procurement and Manufacturing - For scientific instrument purchasers, Lifang's localization means shorter delivery times, lower transportation costs, and more flexible customization services [3]. - Instrument manufacturers are encouraged to accelerate technological iterations to adapt to the restructuring of global supply chains, potentially leading to a new model of "local production + global collaboration" in the medical device industry [3]. Group 3: Company Overview and R&D Investment - Lifang focuses on innovation and clinical proximity, covering six major business segments: patient monitoring, ECG diagnosis, women's health, in vitro diagnostics, ultrasound imaging, and smart health [4]. - In 2024, the company's R&D investment is projected to account for 18.55% of its revenue, with cumulative R&D spending exceeding 2.71 billion since its listing in 2011, establishing strong partnerships with over 50,000 medical institutions [4].

Core Insights - The company, Libang Instruments, reported that as of September 30, 2025, the number of shareholders is 22,710 [1] Summary by Categories Company Information - Libang Instruments has a projected shareholder count of 22,710 by September 30, 2025 [1]

Core Viewpoint - The introduction of handheld ultrasound technology is set to revolutionize maternal safety in Africa, allowing for early detection of pregnancy complications and reducing the need for long-distance travel to medical facilities [1][3]. Group 1: Technology and Innovation - The World Health Organization (WHO) recommends that pregnant women undergo an ultrasound scan before 24 weeks of pregnancy to estimate gestational age and identify potential fetal abnormalities [1]. - Handheld ultrasound devices, which are portable and user-friendly, are being developed to address the lack of access to traditional ultrasound services in many African countries [1][6]. - Chinese companies are entering the African market with these innovative products, aiming to improve maternal healthcare [1][8]. Group 2: Market Dynamics - In 2023, over 700 women die daily from preventable pregnancy and childbirth complications, with 70% of these deaths occurring in sub-Saharan Africa [3]. - The market for medical devices in Africa is characterized by a large population base, which presents significant opportunities despite lower purchasing power [7][8]. - Chinese medical devices are favored in Africa for their solid basic functionality and stable quality, despite competition from lower-priced Indian products [8]. Group 3: Implementation Challenges - The introduction of medical devices in Africa requires not only the equipment but also adequate training for healthcare workers to ensure effective usage [9][10]. - WHO statistics indicate that 50% to 80% of medical equipment in developing countries is not functioning properly due to lack of management and maintenance [9]. - Successful implementation of new technologies hinges on regular and effective training programs for healthcare professionals [9][11].

Core Insights - The establishment of a local manufacturing center in San Diego, California, marks a significant step for the company in localizing production in the U.S. [1] - The new facility, covering an area of 20,882 square feet (approximately 1,940 square meters), aims to enhance supply chain resilience and overall service capabilities in North America [1] - The center has already received MDSAP certification and California FDB medical device production license, indicating compliance with regulatory standards [1] Group 1 - The company has been operating in the U.S. market for 15 years, developing a comprehensive market penetration and customer service network [1] - The new manufacturing center will leverage the existing marketing network to extend upstream and downstream capabilities, aiming to meet the growing medical demands in North America more effectively [1] - The president of the company emphasized the commitment to user proximity and clinical service, aiming for faster market response and product innovation tailored to local needs [1][3] Group 2 - The opening ceremony coincided with the company's 30th anniversary and the 15th anniversary of its U.S. subsidiary, highlighting its long-term commitment to the region [3] - The San Diego region is recognized for its strong life sciences industry cluster, providing a favorable environment for business development and talent support [3] - The company aims to continuously improve its global supply chain service system to create sustainable competitive advantages in the North American and global medical markets [5]

Overview - The global infertility rate is rising, leading to increased demand for assisted reproductive technology (ART) and driving the growth of the reproductive medical equipment market in China [1][13] - Changing fertility concepts, delayed childbearing age, and heightened awareness of reproductive health are expanding the market opportunities for reproductive medical devices [1][13] - The aging population and government encouragement for having more children are further stimulating demand for reproductive medical equipment [1][13] - The market size of China's reproductive medical equipment industry is projected to reach 9.69 billion yuan in 2024, with a year-on-year growth of 9.86% [1][13] Market Policies - The Chinese government has issued various policies to support the development of the medical device industry, including reproductive medical equipment [7] - Policies aim to strengthen management, enhance innovation, and promote high-quality development in the medical device sector [7] Industry Chain - The upstream of the reproductive medical equipment industry includes suppliers of chemical materials, biological medical materials, electronic components, and software systems [9] - The midstream involves the research, design, and production of reproductive medical devices [9] - The downstream consists of public hospitals, private reproductive centers, and patients who benefit from these medical devices [9][11] Competitive Landscape - Historically, imported brands dominated the high-end market of reproductive medical devices in China, but domestic companies are increasingly closing the technology gap [13][14] - By 2024, domestic reproductive medical devices are expected to account for 55.11% of the market share, indicating a shift from reliance on imports to domestic alternatives [13][14] Company Analysis - Suzhou Beikang Medical Co., Ltd. focuses on reproductive health product development and achieved a revenue of 299 million yuan in 2024, with a gross profit margin of 45.54% [14][15] - Awei Technology Co., Ltd. specializes in clinical medical testing equipment and achieved a revenue of 203 million yuan in 2024, with 97.74% coming from medical device sales [15] Development Trends - Future advancements in reproductive medical devices will focus on greater intelligence, automation, and personalization, driven by technologies like gene editing and artificial intelligence [15][16] - Domestic companies are expected to continue improving their technological capabilities and market recognition, leading to an accelerated process of domestic substitution in the market [15][16]

Group 1 - The core viewpoint of the news is that a well-known private equity firm, Hongchou Investment, has conducted research on a listed company, Libang Instruments, revealing significant financial performance and market dynamics [1] Group 2 - In the first half of 2025, Libang Instruments achieved revenue of 914 million yuan and a net profit attributable to shareholders of 154 million yuan, representing a year-on-year growth of 23% [1] - Domestic market revenue was 356 million yuan, showing a year-on-year decline of 13%, primarily due to economic conditions and policy adjustments [1] - Overseas market revenue reached 557 million yuan, with a year-on-year growth of over 8% [1] - In Q2, the company reported revenue of 493 million yuan, reflecting a quarter-on-quarter growth of 17% [1] - Monitoring revenue in Q2 increased by 29% quarter-on-quarter, while ultrasound revenue grew by 19% [1] - Inventory decreased from over 400 million yuan to 330 million yuan [1] - The company has established subsidiaries in France and Mexico, with the Americas, Europe, and other regions each accounting for approximately 30% of revenue [1] - The i500 device has been installed in over 100 hospitals, including top-tier hospitals [1] - New products in blood gas and maternal and child health sectors are being launched, with AI technology serving as a growth engine [1] - The company aims to achieve year-on-year growth in domestic business by 2025 [1]

展望2025年，公司有望实现业绩稳定增长，外销将加强市场拓展与本地化建设，内销将提升人均效率， 各产品线推陈出新，技术创新尤其是AI技术应用将成为业绩增长重要因素。 8月26日15:00-16:00，深圳市理邦精密仪器股份有限公司在公司董事会议室举行业绩说明会，参与单位 包括东吴证券、西南证券、太平洋证券、国盛证券、红筹投资、汇丰晋信基金、深圳正德泰投资、东方 自营、深圳前海天成时代、华创资管及其他个人投资者。公司董事会秘书祖幼冬、证券事务代表刘思辰 接待了来访机构。 会上，公司就2025年上半年业绩、各业务板块表现、国内外市场布局、产品库存、合作项目差异、市场 招投标及设备更新展望、新设子公司影响、产品装机及市场策略、政策影响以及未来业绩展望等多方面 与投资者进行了交流。 2025年上半年，理邦仪器实现收入9.14亿元，与去年同期基本持平，归母净利润1.54亿元，同比增长约 23%。国内市场销售收入3.56亿元，同比下降约13%，主要受国内经济形势和行业政策调整影响，医疗 机构采购计划延迟。公司通过优化内部管理等措施降低不利影响。海外市场销售收入5.57亿元，同比增 长超8%，有效支撑整体业绩。第二季度公司 ...

每经AI快讯，理邦仪器（SZ 300206，收盘价：12.78元）发布公告称，2025年8月26日15:00-16:00，理 邦仪器接受东吴证券等投资者调研，公司董事会秘书祖幼冬等人参与接待，并回答了投资者提出的问 题。 截至发稿，理邦仪器市值为74亿元。 每经头条（nbdtoutiao）——世界首例基因编辑猪肺成功移植人体 对话主要参与者：距离临床应用还有 多远？ （记者 王可然） 2024年1至12月份，理邦仪器的营业收入构成为：医疗器械行业占比100.0%。 ...