Investment Rating - The report maintains a "Buy" rating for the company [4][14]. Core Insights - The company reported a revenue of 1.378 billion yuan in 2023, a year-on-year increase of 12.96%, and a net profit of 275.59 million yuan, up 5.26% year-on-year. In Q1 2024, revenue surged to 663 million yuan, reflecting a 99.60% year-on-year growth, with net profit reaching 122 million yuan, a 56.73% increase [2][4]. - The company is focusing on enhancing channel capabilities and expects significant growth in reagent sales, supported by a series of measures to empower distribution channels and optimize sales teams [3][7]. - The international market is showing promising growth, with revenue from overseas markets increasing by 31.61% in 2023, contributing to 39.7% of total revenue. The company is implementing a large customer strategy and local management upgrades to drive this growth [3][8]. Financial Performance Summary - In 2023, the company achieved a gross margin of 50.53%, with a net profit margin of 20%. The revenue growth rates for 2024 and 2025 are projected at 67.74% and 31.36%, respectively, with net profit growth rates of 57.25% and 31.54% [4][8][12]. - The company's revenue forecast for 2024 and 2025 has been adjusted to 2.311 billion yuan and 3.036 billion yuan, respectively, with net profit forecasts of 433.36 million yuan and 570.03 million yuan [4][5]. - The report highlights a significant increase in earnings per share (EPS), projected to rise from 1.00 yuan in 2023 to 2.08 yuan in 2025 [5][13].

Investment Rating - The report maintains a "Buy" rating for the company, expecting the stock price to outperform the Shanghai Composite Index by more than 20% in the next six months [32]. Core Views - The company achieved a revenue of 1.378 billion yuan in 2023, representing a year-on-year growth of 12.96%, and a net profit attributable to shareholders of 276 million yuan, up 5.26% year-on-year. The growth rate has slowed down mainly due to the revenue recognition schedule, with some overseas income deferred to Q1 2024 [5][38]. - The company’s instrument business is expected to maintain steady growth, while the reagent business is anticipated to see significant expansion starting in 2024. Projected revenues for 2024-2026 are 2.102 billion, 2.599 billion, and 3.190 billion yuan, with corresponding net profits of 400 million, 492 million, and 608 million yuan [9][39]. Summary by Sections Financial Performance - In 2023, the company’s instrument business generated 821 million yuan in revenue, a year-on-year increase of 19.89%, accounting for 59.61% of total revenue. The reagent business brought in 550 million yuan, growing 4.62% year-on-year, making up 39.94% of total revenue [21]. - The company’s gross margin for the year was 50.53%, down 1.46 percentage points, while the net margin was 20.00%, down 1.45 percentage points. The sales expense ratio increased to 18.17%, reflecting increased spending to capture market share [5]. Market Expansion - The company has been enhancing its overseas sales system, achieving rapid business growth. In 2023, domestic revenue was 831 million yuan, up 3.89%, while overseas revenue reached 547 million yuan, a 32.96% increase [40]. - The company has established a comprehensive sales and service network globally, with products sold in over 120 countries, indicating a strong potential for continued overseas market expansion [40].

Investment Rating - The report maintains a "Buy" rating for the company in 2024 [7] Core Views - The company achieved a significant revenue growth of 55.53% year-on-year in Q1 2024, with total revenue reaching 1.378 billion yuan and a net profit attributable to shareholders of 276 million yuan, marking a 99.60% increase year-on-year [7][8] - The report highlights the company's strong performance in the medical device sector, with a focus on enhancing sales capabilities and expanding into global markets [7] - The company is expected to continue its growth trajectory, with projected revenues of 2.063 billion yuan in 2024, reflecting a growth rate of 49.7% [8] Summary by Sections Financial Performance - In Q1 2024, the company reported a revenue of 1.378 billion yuan, a year-on-year increase of 55.53%, and a net profit of 276 million yuan, up 99.60% year-on-year [7] - The company’s revenue from instrument sales grew by 4.62% in 2023, while reagent sales growth was slower, indicating a need for improvement in reagent performance [7] Market Position and Strategy - The company has established subsidiaries in Thailand, Indonesia, and Russia to promote local production of instruments and reagents, which is expected to drive rapid growth in overseas markets [7] - The report emphasizes the importance of optimizing assessment mechanisms to enhance sales performance and accelerate reagent growth [7] Earnings Forecast - The company is projected to achieve revenues of 2.063 billion yuan in 2024, with net profits expected to reach 402 million yuan, reflecting a growth rate of 45.8% [8] - Earnings per share (EPS) are forecasted to be 1.46 yuan in 2024, with continued growth anticipated in subsequent years [8]

迪瑞医疗科技股份有限公司 关于控股股东部分股份质押的公告 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。 迪瑞医疗科技股份有限公司（以下简称"公司"）于近日接到公司控股股东 深圳市华德欣润股权投资企业（有限合伙）（以下简称"华德欣润"）的通知，获 悉其所持有本公司的部分股份办理了质押手续，具体事项如下： | | 是否为 第一大 | 本次质押 | 占其 所持 | 占公司 | 是否 | 是否 为补 | 质押开 | | 质押到期 | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 股东 | 股东及 | 股份数量 | | 总股本 | 为限 | | | | | | 质权人 | 质权用途 | | 名称 | | | 股份 | | | 充质 | 始日期 | | 日期 | | | | | | 一致行 | (股) | 比例 | 比例 | 售股 | 押 | | | | | | | | | 动人 | | | | | | | | | | | | | 华德 | ...

证券代码：300396 证券简称：迪瑞医疗 公告编号：2024-017 迪瑞医疗科技股份有限公司 关于公司续聘会计师事务所的公告 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。 迪瑞医疗科技股份有限公司（以下简称"公司"）于 2024 年 4 月 17 日召开 的第六届董事会第二次会议和第六届监事会第二次会议，审议通过了《关于续聘 2024 年度审计机构的议案》，公司拟聘任大信会计师事务所（特殊普通合伙） （以下简称"大信所"）为公司 2024 年度审计机构，聘期为一年。2024 年度审 计费用由董事会提请股东大会授权公司管理层根据具体审计要求和审计范围与 大信所所协商确定，本事项需提交公司股东大会审议批准。现将相关情况公告如 下： 机构性质：特殊普通合伙企业 注册地址：北京市海淀区知春路 1 号学院国际大厦 22 层 统一社会信用代码：91110108590611484C 业务资质：具备会计师事务所执业证书 是否曾从事过证券服务业务：是 一、拟续聘会计师事务所事项的情况说明 大信会计师事务所具备会计师事务所执业证书和证券、期货相关业务许可证， 该公司在执业过 ...

证券代码：300396 证券简称：迪瑞医疗 公告编号：2024-008 迪瑞医疗科技股份有限公司 第六届董事会第二次会议决议公告 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。 一、会议召开情况 迪瑞医疗科技股份有限公司（以下简称"公司"）第六届董事会第二次会议 （以下简称"本次会议"）于 2024 年 4 月 17 日在公司以现场方式召开，本次会 议由董事长宋清先生主持，应出席公司会议的董事 9 人，实际出席公司会议的董 事 9 人，公司监事、高级管理人员列席会议。根据《公司章程》的规定，本次会 议通知于 2024 年 4 月 7 日以电子邮件送达方式发出，会议召开符合《中华人民 共和国公司法》、《公司章程》的规定，会议合法有效。 二、会议审议情况 与会董事经认真审议，以现场表决方式审议通过了如下决议： 1、审议并一致通过《公司 2023 年度总经理工作报告》 与会董事认真审议了《公司 2023 年度总经理工作报告》，听取了公司总经理 王学敏先生汇报的公司 2023 年度各项生产经营活动的实际开展情况、公司未来 经营计划与目标展望等。 表决结果：9 票同意， ...

Financial Performance - The company's revenue for Q1 2024 reached ¥662,535,125.59, representing a 99.60% increase compared to ¥331,932,094.69 in the same period last year[5] - Net profit attributable to shareholders was ¥121,800,597.55, up 56.73% from ¥77,711,739.74 year-on-year[5] - Basic earnings per share increased to ¥0.4466, reflecting a growth of 55.88% from ¥0.2865 in the same period last year[5] - Operating profit for Q1 2024 was ¥141,411,003.12, up 65.5% from ¥85,536,589.74 in Q1 2023[29] - The company reported a total comprehensive income of ¥122,335,562.33 for Q1 2024, up from ¥77,112,800.85 in Q1 2023, indicating a growth of 58.6%[29] - Other income for Q1 2024 was ¥14,239,074.57, which is an increase from ¥5,759,205.99 in the same period last year[28] Cash Flow and Assets - The net cash flow from operating activities decreased significantly to -¥184,049,664.39, a decline of 3,005.07% compared to -¥5,927,387.04 in the previous year[5] - Cash flow from operating activities showed a net outflow of ¥184,049,664.39, compared to a smaller outflow of ¥5,927,387.04 in the same period last year[31] - The net cash flow from investment activities was 16,503,423.86, compared to a negative cash flow of -13,914,595.87 in the previous year[32] - The total cash inflow from financing activities was 45,151,555.82, with cash outflows totaling 47,987,150.92, resulting in a net cash flow of -2,835,595.10[32] - The ending balance of cash and cash equivalents was 670,694,518.02, compared to 774,335,835.87 at the end of the previous year[32] - Current assets decreased to CNY 1,960,804,503.21 from CNY 2,043,754,535.72, indicating a decline of about 4.1%[24] - Cash and cash equivalents fell to CNY 674,589,116.02 from CNY 845,730,745.23, a decrease of approximately 20.2%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period is 10,501[15] - The largest shareholder, Shenzhen Huade Xinrun Equity Investment Enterprise, holds 28.15% of shares, totaling 77,288,400 shares, with 45,600,156 shares pledged[15] - Guangdong Hengjian International Investment Co., Ltd. holds 12.06% of shares, totaling 33,123,600 shares[15] - The total number of shares held by the top 10 shareholders amounts to significant ownership concentration, with the top three shareholders alone holding over 50%[15] - The company maintains a diverse shareholder base, including institutional investors such as China Construction Bank and Taikang Life Insurance[15] - There are no reported related party transactions among the top shareholders, except for familial relationships among some[16] Liabilities and Equity - The company’s total liabilities amounted to CNY 1,091,237,710.16, down from CNY 1,281,453,034.50, indicating a decrease of about 14.8%[25] - Total current liabilities decreased to CNY 1,040,965,426.50 from CNY 1,231,843,749.69, a reduction of approximately 15.5%[25] - The company’s equity capital remained stable at CNY 274,698,458.00, with a slight decrease in capital reserve from CNY 259,045,612.47 to CNY 256,980,029.91[25] Research and Development - Research and development expenses rose by 44.13% to ¥3,200,000, driven by increased salaries for R&D personnel and material costs for ongoing projects[12] - Research and development expenses for Q1 2024 were ¥32,040,993.06, an increase of 44% from ¥22,230,348.74 in Q1 2023[28] Future Plans - The company plans to enhance its product diversification and strengthen partnerships with large clients to drive future growth[9] - The company plans to repurchase and cancel 1,379,750 shares of restricted stock due to performance conditions not being met, which includes 152,250 shares from departed employees[22] Miscellaneous - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[16] - The report indicates that there are no preferred shareholders or changes in restricted shares during the period[17] - The company has a total of 4,305,776 shares released from lock-up for Song Jie, reflecting a significant reduction in restricted shares[18] - The company has not yet audited the first quarter report[33] - The company has adopted new accounting standards starting from 2024[33]

迪瑞医疗科技股份有限公司 非经营性资金占用及其他关 联资金往来情况汇总表的专 项审计报告 大信专审字[2024]第 1-02496 号 大信会计师事务所（特殊普通合伙） WUYIGE CERTIFIED PUBLIC ACCOUNTANTS LLP. 邮编 100083 网址 Internet： www.daxincpa.com.cn 大信会计师事务所 北京市海淀区知春路 1 号 学院国际大厦 22 层 2206 WUYIGE Certified Public Accountants.LLP Room 2206 22/F, Xueyuan International Tower No.1 Zhichun Road, Haidian Dist. Beijing, China, 100083 电话 Telephone：+86（10）82330558 传真 Fax： +86（10）82327668 非经营性资金占用及其他关联资金往来情况汇总表的 专项审计报告 大信专审字[2024]第 1-02496 号 迪瑞医疗科技股份有限公司全体股东： 我们接受委托，审计了迪瑞医疗科技股份有限公司（以下简称"贵公司"）的财务报表 ...

关于减少注册资本暨修改《公司章程》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。 迪瑞医疗科技股份有限公司（以下简称"公司"）于 2024 年 04 月 17 日召开 第六届董事会第二次会议审议通过了《关于减少公司注册资本的议案》《关于修 改<公司章程>的议案》等事项。根据《公司法》《公司章程》等相关规定，公司 拟减少注册资本并修改《公司章程》。 一、基本情况 1、由于公司本次涉及回购注销限制性股票公司 1,865,750 股。其中，涉及 2021 年限制性股票激励计划限制性股票回购注销数量为 486,000 股；2022 年限 制性股票激励计划限制性股票回购注销数量为 1,379,750 股。具体内容详见巨潮 资讯网同日发布的相关公告。 鉴于上述 1,865,750 股限制性股票进行注销，公司总股本将由 274,565,911 股减少至 272,700,161 股，公司注册资本也将由 274,565,911 元减少至 272,700,161 元。 2、结合上述实际情况，同时并根据《上市公司章程指引》《深圳证券交易所 上市公司自律监管指引第 2 号—— ...

根据《企业内部控制基本规范》及其配套指引的规定和其他内部控制监管要 求（以下简称"企业内部控制规范体系"），结合迪瑞医疗科技股份有限公司（以 下简称"公司"）内部控制制度，在内部控制日常监督和专项检查的基础上，我 们对公司截至 2023 年 12 月 31 日（内部控制评价报告基准日）的内部控制有效 性进行了评价。 一、重要声明 迪瑞医疗科技股份有限公司 2023 年度内部控制自我评价报告 迪瑞医疗科技股份有限公司全体股东： 按照企业内部控制规范体系的规定，建立健全和有效实施内部控制，评价其 有效性，并如实披露内部控制评价报告是公司董事会的责任。监事会对董事会建 立和实施的内部控制进行监督。经理层负责组织领导企业内部控制的日常运行。 公司董事会、监事会及董事、监事、高级管理人员保证本报告内容不存在任何虚 假记载、误导性陈述或重大遗漏，并对报告内容的真实性、准确性和完整性承担 个别及连带法律责任。 公司内部控制的目标是合理保证经营管理合法合规、资产安全、财务报告及 相关信息真实完整，提高经营效率和效果，促进实现发展战略。由于内部控制存 在的固有局限性，故仅能为实现上述目标提供合理保证。此外，由于情况的变化 可能 ...