Group 1: Company Performance Overview - In 2024, the total procurement amount for medical devices in China significantly decreased due to domestic industry policy factors and the company's strategic investments, leading to a decline in revenue from ultrasound and endoscope businesses [2][3]. - In Q1 2025, the company experienced a noticeable recovery in hospital procurement, with a marked increase in successful bids, although revenue still declined due to a lag between market bids and reported income [2][3]. - The company added over 400 employees in 2024, resulting in increased R&D and sales expenses, which contributed to a significant drop in net profit in Q1 2025 [2][3]. Group 2: Revenue and Product Development Outlook - The company anticipates that the procurement from terminal hospitals in 2025 will exceed that of the previous year, with a return to revenue growth expected [2][3]. - 2025 is projected to be a significant year for new product launches, including the ultrasound 80 platform and HD-580 series endoscopes, which will support stable revenue growth [2][3]. Group 3: Gross Margin Challenges and Strategies - The decline in gross margin is attributed to several factors, including the reclassification of warranty fees to operating costs and a decrease in domestic business revenue proportion [4]. - Increased market competition and concentrated procurement projects have led to a continuous decline in terminal bid prices for ultrasound and endoscope products, impacting overall gross margins [4]. - The company aims to maintain market share while investing heavily in R&D to launch advanced products, which will help sustain higher gross margins [4]. Group 4: Impact of Tariffs and Market Trends - The company’s cost structure shows that raw materials constitute a low percentage, and recent tariff increases are not expected to significantly impact product costs [5]. - The rollout of large-scale procurement plans for medical device updates is anticipated to occur in 2025, potentially increasing market demand [6]. - The concentration of procurement projects may signal a downward trend in overall industry gross margins, prompting the company to adapt its strategy by focusing on high-end products and diversifying its product lines [6]. Group 5: New Product Lines and Growth Potential - The minimally invasive surgery product line achieved a 30% revenue growth in 2024, with expectations for over 100% growth in Q1 2025, indicating a strong upward trend [6][7]. - The cardiovascular intervention product line is still in the strategic investment phase, with plans to introduce a broader product range to improve profitability in the future [7].

Group 1 - The company reported a revenue of 430 million yuan and a net profit of 8.07 million yuan for Q1 2025, with a non-recurring net profit of 5.9981 million yuan [1] - R&D investment for Q1 2025 reached 126 million yuan, representing a year-on-year increase of 23.7% [1] - The company is focusing on integrating medical technology with clinical applications, leveraging "medical devices + AI" to drive smart development [1] Group 2 - The company has launched several key products, including the 4K iEndo smart endoscope platform, which has received NMPA registration and is now in the promotion phase [1] - The iEndo platform features an independent GPU module that enhances image processing and AI computing capabilities, introducing a new super-resolution imaging technology for clearer clinical diagnostics [1] - In the minimally invasive surgery sector, the "Lingzhu" 4K 3D fluorescence imaging platform has been certified, offering a comprehensive solution that combines various imaging technologies [2] Group 3 - The company aims to maintain its competitive edge by continuously innovating and advancing its product lines towards high-end and specialized markets [2] - With the recovery of the domestic medical device market in 2025, the company is increasing its market share in ultrasound and endoscopy, while its strategic layout in minimally invasive surgery and cardiovascular intervention products is maturing [2] - The company is expected to return to a growth trajectory, developing a comprehensive multi-product line strategy that includes "internal medicine + surgery," "diagnosis + treatment," and "equipment + consumables" [2]

Core Insights - The company reported a decline in both revenue and net profit for Q1 2025, with revenue at 430 million yuan and net profit at 8.07 million yuan, indicating a year-on-year decrease [1] - The company is focusing on multi-product line strategies and high-intensity strategic investments, aiming for sustained performance growth in 2025 through high-end and specialized product development [1] - The domestic medical equipment procurement market is expected to grow by over 20% this year, driven by a significant increase in hospital procurement scale and a surge in project approvals [1] Financial Performance - In Q1 2025, the company achieved revenue of 430 million yuan and a net profit of 8.07 million yuan, both showing a certain degree of decline compared to the previous year [1] - The company's R&D investment reached 126 million yuan in Q1, reflecting a year-on-year increase of 23.7% [1] Product Development - The company has launched several key products, including the 4K iEndo smart endoscope platform and the "Lingzhu" 4K 3D fluorescence imaging platform, enhancing its competitive edge in minimally invasive surgery [2] - The integration of AI and medical devices is being emphasized, with the company aiming to create a new engine for intelligent development [1][2] Market Position - The company is witnessing an increase in market share in ultrasound and endoscopy businesses, with a strategic focus on minimally invasive surgery and cardiovascular intervention products [2] - The company aims to establish a comprehensive multi-product line development framework, combining internal and external medicine, diagnosis and treatment, as well as equipment and consumables [2]

Core Viewpoint - Shenzhen Kaili Biomedical Technology Co., Ltd. reported its Q1 2025 performance, showing a focus on multi-product line development and high strategic investment to drive growth in high-end and specialized products [1][2] Financial Performance - The company achieved a revenue of 430 million yuan in Q1 2025, with a net profit attributable to shareholders of 8.07 million yuan and a non-recurring net profit of 5.9981 million yuan [1] Research and Development - R&D investment reached 126 million yuan, reflecting a year-on-year increase of 23.7%, indicating a strong commitment to integrating medical technology with clinical applications [1] Product Innovation - The company launched several new products, including the 4K iEndo smart endoscope platform, which has received NMPA registration and is now in the market promotion phase [1] - The new endoscope features an independent GPU module for enhanced image processing and AI computation, along with a novel ultra-high-resolution imaging technology [1] Market Positioning - The company is focusing on high-end and specialized product development, which is expected to enhance its technological leadership and market share [2] - Future growth is anticipated through a comprehensive multi-product line strategy encompassing "internal medicine + surgery," "diagnosis + treatment," and "equipment + consumables" [2]

Core Viewpoint - The company, Kaili Medical, reported a strong performance in Q1 2025, with a focus on high-end and specialized product development, which is expected to drive continuous revenue growth throughout the year [1][4]. Financial Performance - In Q1 2025, Kaili Medical achieved a revenue of 430 million yuan and a net profit attributable to shareholders of 8.07 million yuan, with a non-recurring net profit of 5.9981 million yuan [1]. - The company’s R&D investment in Q1 2025 was 126 million yuan, reflecting a year-on-year increase of 23.7% [2]. Product Development and Innovation - Kaili Medical launched several high-end products, including the 4K iEndo smart endoscope platform, which has received NMPA registration and is now in the market promotion phase [2]. - The iEndo platform features an independent GPU module that enhances image processing and AI computing capabilities, providing clearer and more precise imaging for clinical diagnosis [2]. - New products in the digestive and respiratory endoscope categories include advanced gastric and intestinal endoscopes, designed with ergonomic improvements to enhance usability and reduce fatigue for physicians [3]. Market Trends and Opportunities - The domestic medical equipment market is expected to grow by over 20% compared to last year, driven by government policies supporting equipment updates and procurement [1]. - The company is positioned to benefit from the increasing market share in ultrasound and endoscopy, alongside the maturation of its minimally invasive surgery and cardiovascular intervention product lines [4]. - Kaili Medical aims to establish a comprehensive multi-product line development strategy, integrating diagnostics and treatment across various specialties [4].

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。 深圳开立生物医疗科技股份有限公司 2025 年一季度报告于 2025 年 4 月 26 日在中国证监会指定的创业板信息披露网站巨潮资讯网（http://www.cninfo.com. cn/）上披露，请投资者注意查阅。 特此公告。 深圳开立生物医疗科技股份有限公司董事会 2025 年 4 月 25 日 证券代码：300633 证券简称：开立医疗 公告编号：2025-023 深圳开立生物医疗科技股份有限公司 2025 年第一季度报告披露提示性公告 ...

第四届监事会第七次会议决议公告 本公司及监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。 一、监事会会议召开情况 2025 年 4 月 24 日，深圳开立生物医疗科技股份限公司（以下简称"公司"） 第四届监事会第七次会议在深圳市光明区光电北路 368 号开立医疗大厦一楼会 议室召开。本次会议由监事会主席陈欣主持。应出席监事 3 名，实际出席监事 3 名。符合《公司章程》规定的法定人数，本次监事会会议决议合法有效。 二、监事会会议审议情况 证券代码：300633 证券简称：开立医疗 公告编号：2025-025 深圳开立生物医疗科技股份有限公司 经审核，监事会认为：公司《2025 年一季度报告》的编制和审议程序符合法 律、法规、公司章程和公司内部管理制度的规定，公司《2025 年一季度报告》的 内容和格式符合中国证监会和深圳证券交易所的各项规定，所披露的信息真实、 准确、完整地反映了公司的实际经营情况，不存在虚假记载、误导性陈述或者重 大遗漏。 特此公告。 表决结果：3 票同意，0 票反对，0 票弃权。同意票数占总票数的 100%。 三、备查文件 1、第四届监事会第七次会议 ...

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。 一、董事会会议召开情况 证券代码：300633 证券简称：开立医疗 公告编号：2025-024 深圳开立生物医疗科技股份有限公司 第四届董事会第八次会议决议公告 三、备查文件 1、第四届董事会第八次会议决议。 2025 年 4 月 24 日，深圳开立生物医疗科技股份有限公司（以下简称"公司"） 第四届董事会第八次会议以现场和通讯表决相结合的方式在深圳市光明区光电 北路 368 号开立医疗大厦一楼会议室召开。本次会议已于 2025 年 4 月 18 日以 电话、电子邮件等方式通知全体董事。 特此公告。 本次会议应出席董事 7 人，实际出席董事 7 人，会议由董事长陈志强先生主 持，符合《公司章程》规定的法定人数，会议的召集、召开符合《公司法》和《公 司章程》的有关规定。 二、董事会会议审议情况 经与会董事投票表决，审议通过了如下决议： 1、审议通过《关于公司 2025 年第一季度报告的议案》 董事会认为：公司《2025 年一季度报告》的内容真实、准确、完整地反映了 公司 2025 年一季度经营的实际情况，不存在任何 ...

Financial Performance - The company reported a significant decline in basic earnings per share, dropping to 0.0187 yuan in Q1 2025 from 0.2326 yuan in Q1 2024, representing a decrease of 91.96% [1] - Net profit for Q1 2025 was 0.08 billion yuan, down 92% from 1 billion yuan in Q1 2024 [1] - Revenue decreased to 4.3 billion yuan in Q1 2025, a decline of 10.23% compared to 4.79 billion yuan in Q1 2024 [1] - The return on equity fell to 0.26% in Q1 2025 from 3.13% in Q1 2024, marking a decrease of 91.69% [1] Shareholder Information - The top ten unrestricted shareholders collectively hold 98.7644 million shares, accounting for 22.83% of the circulating shares, with a decrease of 2.2972 million shares compared to the previous period [1] - Major shareholders include Chen Zhiqiang and Wu Kunxiang, each holding 23.9313 million shares, representing 5.53% of the total share capital, with no change in their holdings [2] - The Hong Kong Central Clearing Limited reduced its holdings by 2.1367 million shares, now holding 5.6405 million shares, which is 1.30% of the total share capital [2] Dividend Policy - The company has announced that it will not distribute dividends or transfer shares this time [3]

Financial Performance - The company's revenue for Q1 2025 was ¥430,012,001.93, a decrease of 10.29% compared to ¥479,333,865.45 in the same period last year[4] - Net profit attributable to shareholders was ¥8,074,620.52, down 91.94% from ¥100,190,827.63 year-on-year[4] - Total operating revenue for the current period is ¥430,012,001.93, a decrease of 10.3% from ¥479,333,865.45 in the previous period[17] - Net profit for the current period is ¥8,074,620.52, down 91.9% from ¥100,190,827.63 in the previous period[18] - Basic earnings per share decreased to ¥0.0187 from ¥0.2326, reflecting a significant decline in profitability[18] - The weighted average return on equity was 0.26%, down from 3.13% in the same period last year, indicating a significant decline in profitability[4] Cash Flow - The net cash flow from operating activities was -¥284,864,541.91, representing a decline of 899.07% compared to -¥28,513,064.73 in the previous year[4] - Cash flow from operating activities showed a net outflow of ¥284,864,541.91, compared to a smaller outflow of ¥28,513,064.73 in the previous period[20] - The company reported a cash inflow from investment activities of ¥499,535,533.27, a significant increase compared to ¥17,769.69 in the previous period[20] - Net cash flow from investment activities was 320,146,424.73, compared to a negative cash flow of -72,622,271.05 in the previous period[21] - Net cash flow from financing activities was -154,416,991.98, a significant decrease compared to a positive cash flow of 226,745,799.91 in the previous period[21] - Cash inflow from financing activities was 21,167,720.37, down from 259,332,185.06 in the previous period[21] - The net increase in cash and cash equivalents was -118,050,845.31, contrasting with an increase of 126,702,284.38 in the previous period[21] - Cash paid for debt repayment was 168,918,309.64, indicating a significant cash outflow in financing activities[21] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,995,840,487.69, a decrease of 7.35% from ¥4,312,997,155.23 at the end of the previous year[5] - Total current assets decreased from CNY 2,974,995,087.77 to CNY 2,645,522,089.15, a reduction of approximately 11%[14] - Total liabilities decreased to ¥871,322,477.26 from ¥1,204,774,675.82, reflecting a reduction in financial obligations[16] - Total equity attributable to shareholders increased to ¥3,124,518,010.43 from ¥3,108,222,479.41, showing a slight growth in shareholder value[16] Investments and R&D - R&D expenses increased by 23.70% to ¥125,724,100.00, reflecting the company's commitment to new product development[9] - Research and development expenses increased to ¥125,724,109.43, up 23.6% from ¥101,637,595.01 in the previous period, indicating a focus on innovation[17] - The company reported a significant increase in investment income, which rose by 150.19% to ¥979,200.00, attributed to higher returns from financial products[9] - The cash flow from investment activities showed a net increase of 540.84%, amounting to ¥320,146,400.00, due to more redemptions of financial products than purchases[9] Shareholder Information - Total number of common shareholders at the end of the reporting period is 14,519[10] - The top two shareholders, Chen Zhiqiang and Wu Kunxiang, each hold 22.12% of shares, totaling 95,725,200 shares, both of which are pledged[10] Other Information - The company received government subsidies amounting to ¥1,266,210.55, contributing positively to its financial performance[6] - The company has no preferred shareholders or changes in restricted shares during the reporting period[12] - The company did not undergo an audit for the first quarter report[22] - The new accounting standards will be implemented starting from 2025[22]