Core Viewpoint - Jiangxi Sanxin Medical Technology Co., Ltd. reported a revenue increase of 10.83% in the first half of 2025, driven by strong performance in blood purification products, which account for over 80% of total revenue [11][12]. Financial Performance - The company's operating income for the first half of 2025 was approximately 760.81 million yuan, compared to 686.45 million yuan in the same period last year, reflecting a growth of 10.83% [3]. - Net profit attributable to shareholders was approximately 115.12 million yuan, an increase of 8.35% from 106.25 million yuan year-on-year [3]. - The net cash flow from operating activities increased by 38.94% to approximately 189.19 million yuan [3]. Industry Overview - The global medical device market is projected to reach 623 billion USD in 2024, with a compound annual growth rate (CAGR) of approximately 8.1% from 2020 to 2024, and is expected to exceed 1 trillion USD by 2033 [4][5]. - The medical device industry is characterized as a knowledge-intensive and capital-intensive sector, with significant regulatory oversight due to its direct impact on human health [4]. - China's medical device market is the second largest globally, with a projected market size of approximately 595 billion yuan in 2024, growing at a rate of 2.9% year-on-year [4][5]. Company Positioning - The company is a key player in the medical device industry, focusing on research, manufacturing, and sales of blood purification products, drug delivery devices, and cardiothoracic surgery products [11]. - The company has established a comprehensive product chain for blood dialysis equipment and consumables, serving over 5,000 hospitals and dialysis centers domestically and internationally [11][12]. - The company has achieved significant advancements in domestic production of key materials for dialysis membranes, breaking the monopoly of foreign brands in this sector [12]. Market Trends - The medical device industry is experiencing a shift towards innovation, with policies encouraging the development of high-quality medical devices to enhance international competitiveness [7][8]. - The government has implemented measures to support the internationalization of medical device companies, including financial incentives and export credit insurance [5][6]. - The trend of centralized procurement is becoming normalized, with a focus on quality improvement and expansion of service coverage in the medical device sector [6][7].

Core Viewpoint - Jiangxi Sanxin Medical Technology Co., Ltd. reported a revenue increase of 10.83% and a net profit increase of 8.35% for the first half of 2025, indicating strong business performance and growth potential in the medical device sector [1][4]. Financial Performance - The company's operating revenue for the reporting period was CNY 760.81 million, compared to CNY 686.45 million in the same period last year, reflecting a growth of 10.83% [1][4]. - The net profit attributable to shareholders was CNY 115.12 million, up from CNY 106.25 million, marking an increase of 8.35% [1][4]. - The net cash flow from operating activities was CNY 189.19 million, a significant increase of 38.94% compared to the previous year [1][4]. - Basic earnings per share rose to CNY 0.2207 from CNY 0.2045, representing a growth of 7.92% [1][4]. Business Segments - Blood purification products generated revenue of CNY 625.59 million, a 19.73% increase year-on-year, accounting for 82.23% of total revenue [4][5]. - Revenue from drug delivery devices decreased by 15.06% to CNY 82.41 million, representing 10.83% of total revenue [5]. - Cardiothoracic products achieved revenue of CNY 34.98 million, a slight increase of 0.74%, making up 4.60% of total revenue [5]. - Other business segments contributed CNY 17.83 million, accounting for 2.34% of total revenue [5]. Market Expansion - The company successfully registered products in international markets, including Indonesia, Peru, and Mexico, and is advancing certification processes in Turkey, Vietnam, and Brazil, enhancing its global competitiveness [5][6]. - Overseas business revenue reached CNY 187.00 million, a substantial increase of 67.30%, becoming a key driver of overall performance [5][6]. Production and R&D - The company is optimizing its production layout and expanding its capacity to meet the growing demand for blood dialysis products, with new production bases established in Sichuan and expanded facilities in Jiangxi [6][7]. - The Jiangxi blood dialysis product R&D and production base is progressing well, with plans for a large-scale production line for dialysis concentrates [6][7]. Digital Transformation - The company is focusing on building an intelligent manufacturing system, integrating digital technologies to enhance operational efficiency and product quality [7][8]. - It has received recognition for its achievements in smart manufacturing and digital transformation, including awards from national and provincial authorities [7][8]. Collaborative Innovation - The company leads a high-performance medical device industry technology innovation consortium, collaborating with various research institutions and enterprises to drive technological advancements and industry upgrades [8][9]. - It organizes academic forums and learning exchanges to promote innovation and share best practices within the medical device industry [8][9].

Core Viewpoint - The company has announced a mid-term profit distribution plan for 2025, proposing a cash dividend of 1 yuan (including tax) for every 10 shares, with no bonus shares or capital reserve transfers [1][2][3]. Group 1: Board and Supervisory Committee Review - The board of directors has unanimously approved the profit distribution plan, stating it aligns with the company's actual situation and benefits long-term development and investor interests [1][2]. - The supervisory committee also agrees with the plan, emphasizing its compliance with relevant laws and regulations while balancing the company's financial status and future funding needs [2]. Group 2: Profit Distribution Plan Details - The profit distribution plan is based on the company's strong and stable profitability, with a net profit of 115,118,078.10 yuan for the first half of 2025 and a total distributable profit of 650,157,687.80 yuan [2][3]. - The total cash dividend amount proposed is 52,223,752.50 yuan (including tax) [3]. Group 3: Justification for Cash Dividend - The cash dividend plan complies with various legal and regulatory frameworks, ensuring the company's normal operations and long-term development while considering shareholder interests [3][4].

证券代码：300453 证券简称：三鑫医疗 公告编号：2025-041 江西三鑫医疗科技股份有限公司 第五届董事会第二十一次会议决议公告 本次会议审议通过以下议案： （一）审议通过《关于<2025 年半年度报告全文>及其摘要的议案》 经审议，董事会认为：公司《2025 年半年度报告全文》及《2025 年半年度 报告摘要》的内容真实、准确、完整地反映了公司的实际情况，不存在任何虚假 记载、误导性陈述或者重大遗漏；报告的编制和审核程序符合法律、行政法规的 要求，符合中国证监会和深交所的相关规定。 具体内容详见公司于同日在中国证监会指定的创业板信息披露网站刊登的 《2025 年半年度报告全文》（公告编号：2025-039）、《2025 年半年度报告摘 要》（公告编号：2025-040），敬请广大投资者查阅。 本公司及董事会全体成员保证公告内容真实、准确和完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 江西三鑫医疗科技股份有限公司（以下简称"公司"）第五届董事会第二十 一次会议已于 2025 年 7 月 26 日以书面方式通知全体董事，并于 2025 年 8 月 7 日以现场及远程方式在公司会议 ...

Meeting Overview - The 19th meeting of the 5th Supervisory Board of Jiangxi Sanxin Medical Technology Co., Ltd. was held on August 7, 2025, in compliance with relevant laws and regulations [1][2]. Financial Reporting - The Supervisory Board approved the company's 2025 semi-annual report, confirming that the report accurately reflects the company's actual situation without any false records or omissions [1][3]. Profit Distribution Plan - The company proposed a mid-term profit distribution plan, which includes a cash dividend of 1 yuan (including tax) for every 10 shares based on a total of 522,237,525 shares, after deducting 160,000 shares held in the repurchase account [2][3]. Stock Incentive Plan - The Supervisory Board approved the achievement of conditions for the first unlock period of the 2024 restricted stock incentive plan, allowing 112 eligible participants to unlock a total of 3,849,575 shares [3][4]. Convertible Bond Issuance - The company confirmed its eligibility to issue convertible bonds to unspecified investors, with a total fundraising target of up to 530 million yuan [5][6]. - The convertible bonds will be issued at face value, with a term of six years and an annual interest payment structure [6][7]. Fund Utilization - The proceeds from the bond issuance will be allocated to projects including the expansion of blood dialysis membrane production and the construction of high-performance blood purification equipment production lines, totaling 530 million yuan [17][18]. Governance and Compliance - The company established rules for the bondholders' meeting and outlined measures to mitigate the dilution of immediate returns for existing shareholders due to the bond issuance [21][22].

Core Points - The company has approved the first unlock period of the 2024 restricted stock incentive plan, confirming that the conditions for unlocking have been met [2][4] - A total of 112 individuals are eligible for the unlock, having satisfied the necessary conditions outlined in the incentive plan [3][4] - The company will adjust the repurchase price and cancel 313,250 shares of restricted stock that do not meet the unlock conditions [5] Summary by Sections Unlock Conditions - The company has verified that it meets the qualifications to implement the stock incentive plan and has not encountered any disqualifying events [2] - Specific disqualifying events include negative audit opinions, improper profit distribution, and other regulatory restrictions [2][3] Eligible Participants - The monitoring committee has confirmed that all 112 individuals on the unlock list meet the criteria set forth in the incentive plan [3][4] - The criteria include not being deemed inappropriate by regulatory bodies within the last 12 months and not having any major legal violations [3] Repurchase and Cancellation - The monitoring committee has approved the adjustment of the repurchase price for the restricted stock and the cancellation of shares that do not meet the unlock conditions [4][5] - The repurchase and cancellation process is deemed compliant with relevant regulations and will not adversely affect the company's financial status [4]

Core Viewpoint - The legal opinion letter from Jiangxi Huabang Law Firm confirms that Jiangxi Sanxin Medical Technology Co., Ltd. has fulfilled the necessary conditions for the first unlock period of its 2024 restricted stock incentive plan, including adjustments to the repurchase price and the repurchase and cancellation of certain restricted stocks [1][7][21] Group 1: Approval and Authorization - The company has obtained necessary approvals and authorizations for the first unlock period of the incentive plan, including the verification of the list of incentive recipients by the supervisory board [6][14] - The first unlock period for the restricted stocks begins 12 months after the completion of the stock grant registration [8][14] Group 2: Conditions for Unlocking - The conditions for unlocking the restricted stocks have been met, as the company did not receive any negative audit opinions or fail to distribute profits according to regulations [8][9][14] - The company achieved a revenue growth rate of at least 15% and a net profit growth rate of at least 10% compared to the previous year, fulfilling the performance targets set in the incentive plan [10][12][14] Group 3: Repurchase and Cancellation of Stocks - A total of 31.325 million shares of restricted stocks will be repurchased and canceled due to two incentive recipients leaving the company and 29 recipients not meeting the personal performance criteria [17][20] - The repurchase price for the restricted stocks is subject to adjustment based on the company's profit distribution plans, with the current price set at 3.5 yuan per share [19][20]

Core Viewpoint - The company has announced adjustments to the repurchase price of the 2024 restricted stock incentive plan and the repurchase and cancellation of certain restricted stocks due to changes in the eligibility of some incentive targets [1][10][11]. Summary by Sections Approval Procedures - The company has completed the necessary approval procedures for the 2024 restricted stock incentive plan, including discussions and approvals from the board and supervisory committee [1][3][10]. Repurchase and Cancellation Details - The repurchase involves 31.3250 million shares of restricted stock, with 19,000 shares being repurchased due to two individuals leaving the company and 12.325 million shares due to 29 individuals not meeting the release conditions [5][10][11]. Repurchase Price and Basis - The repurchase price is set at the grant price, which is 3.5 yuan per share. Adjustments to this price may occur based on the company's capital actions, such as dividends or stock splits [6][9][10]. Financial Impact - The repurchase and cancellation of restricted stocks are not expected to have a significant impact on the company's financial status or operational results, and the incentive plan will continue to be implemented [10][11]. Opinions from Committees - Both the board's remuneration and assessment committee and the supervisory committee have reviewed and approved the repurchase and cancellation actions, confirming compliance with relevant regulations [10][11][12].

Core Viewpoint - The announcement details the achievement of the first unlock period conditions for the 2024 restricted stock incentive plan, allowing 112 eligible participants to unlock a total of 3.849575 million shares, representing 0.7369% of the company's total share capital [1][12]. Summary by Sections Incentive Plan Overview - The 2024 restricted stock incentive plan was approved in meetings held on July 29 and August 14, 2024, with a total of 116 participants receiving 8.13565 million shares after adjustments [2][6]. - The plan's duration is up to 48 months from the date of stock grant registration [2]. Unlock Conditions - The first unlock period allows for 50% of the granted shares to be unlocked after 12 months, and the remaining 50% after 24 months [2]. - The performance assessment for the unlock conditions is based on the company's financial performance in 2024 and 2025, with specific revenue and profit growth targets set [2][4]. Performance Targets - For the first unlock period, the company must achieve either a 15% revenue growth or a 10% net profit growth compared to 2023 [3][4]. - For the second unlock period, the targets include a 26.5% revenue growth or a 15% net profit growth over the two-year period [4]. Performance Assessment Results - The company reported a revenue of 1,500.4384 million yuan for 2024, achieving a 15.41% growth, and a net profit of 209.8692 million yuan, achieving a 15.35% growth [15]. - The personal performance assessment for the participants resulted in a 100% unlock ratio for 29 individuals, while 12.325 million shares were subject to repurchase due to unmet conditions [16][17]. Approval and Legal Compliance - The board and supervisory committee confirmed that all necessary approvals and legal requirements were met for the unlock conditions to be fulfilled [19][20]. - The legal opinion from Jiangxi Huabang Law Firm affirmed the legitimacy of the unlock conditions and the eligibility of the participants [19][20].

Core Viewpoint - Jiangxi Sanxin Medical Technology Co., Ltd. plans to issue convertible bonds to unspecified objects, aiming to raise a total of no more than 530 million yuan, which will be used for various projects including the construction of a blood dialysis membrane production base and related equipment [8][20]. Group 1: Issuance Overview - The type of securities to be issued is convertible bonds that can be converted into the company's A-shares [8]. - The proposed total amount to be raised is capped at 530 million yuan, including the principal [8][20]. - The bonds will have a face value of 100 yuan each and a term of six years from the date of issuance [8][20]. - The interest rate will be determined based on market conditions and company specifics, with annual interest payments [8][20]. Group 2: Use of Proceeds - The net proceeds from the bond issuance will be allocated to specific projects, including the establishment of a production line for blood dialysis membranes and related consumables [20][21]. - If the actual funds raised are less than the planned investment amounts, the company will adjust the use of funds based on the importance and urgency of the projects [21]. Group 3: Financial Information - The company has undergone audits for the financial reports of 2022, 2023, and 2024, receiving standard unqualified opinions from the auditing firm [22]. - The financial data for the last three years is based on audited financial statements, with adjustments made for any retrospective restatements [22].