证券代码：300888 证券简称：稳健医疗 编号：2024-008 | --- | --- | --- | |-----------------------|------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------| | | □ 特定对象调研 □ | 分析师会议 | | 投资者关系活 | □ 媒体采访 □ | 业绩说明会 | | 动类别 | □ 新闻发布会 □ | 路演活动 | | | √ 现场参观 □ 其他 （电话会议） | | | 参与单位名称 | | 富国基金、国联基金、华泰证券、招商证券等 25 位机构投资者，名单详见 | | 及人员姓名 | 附件（排名不分先后） | | | 时间 | 2024 年 11 月 13 日 | | | 地点 | 总部会议室 | | | | 董事长、总经理：李建 ...

| --- | --- | --- | --- | --- | |-------|--------------|--------|----------|-------------------------------| | 序号 | 公司名称 | 姓名 | 参会方式 | 调研时间 | | 1 | 信达证券 | 曹佳琳 | 现场调研 | 2024 年 11 月 13 日 | | 2 | 招商证券 | 刘丽 | 现场调研 | 2024 年 11 月 13 日 | | 3 | 招商证券 | 王雪玉 | 现场调研 | 2024 年 11 月 13 日 | | 4 | 招商证券 | 邓琪静 | 现场调研 | 2024 年 11 月 13 日 | | 5 | 国联基金 | 项薇 | 现场调研 | 2024 年 11 月 13 日 | | 6 | 国泰君安证券 | 曲世强 | 现场调研 | 2024 年 11 月 13 日 | | 7 | 红思客资产 | 杨岌 | 现场调研 | 2024 年 11 月 13 日 | | 8 | 红思客资产 | 张学聪 | 现场调研 | 2024 年 11 月 13 日 | | 9 | 深圳泽 ...

北京市中伦（深圳）律师事务所 关于稳健医疗用品股份有限公司 2024 年第四次临时股东大会的 法律意见书 $$\underline{{{\ \ \ }}}\,\mathsf{O}\,\underline{{{\ \ \ }}}\,\mathsf{D}\,\mathsf{H}\,\mathsf{H}\,\mathsf{H}\,\mathsf{H}$$ 北京 • 上海 • 深圳 • 广州 • 武汉 • 成都 • 重庆 • 青岛 • 杭州 • 南京 • 海口 • 东京 • 香港 • 伦敦 • 纽约 • 洛杉矶 • 旧金山 • 阿拉木图 Beijing • Shanghai • Shenzhen • Guangzhou • Wuhan • Chengdu • Chongqing • Qingdao • Hangzhou • Nanjing • Haikou • Tokyo • Hong Kong • London • New York • Los Angeles • San Francisco • Almaty 2024 年第四次临时股东大会的 法律意见书 致：稳健医疗用品股份有限公司 根据中国证券监督管理委员会发布 ...

证券代码：300888 证券简称：稳健医疗 公告编号：2024-080 稳健医疗用品股份有限公司 2024 年第四次临时股东大会决议公告 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。 特别提示： 1、本次股东大会无增加、变更、否决提案的情况； 2、本次股东大会未涉及变更前次股东大会决议的情形。 一、会议召开和出席情况 （一）股东大会届次：2024 年第四次临时股东大会 （二）会议召集人：公司董事会 （三）会议召开时间： 1.现场会议召开时间：2024 年 11 月 13 日（星期三）下午 15:00； 2.网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2024 年 11 月 13 日的交易时间，即 9:15-9:25，9:30-11:30 和 13:00-15:00； 通过深圳证券交易所互联网投票系统（http://wltp.cninfo.com.cn）投票 的具体时间为：2024 年 11 月 13 日 9:15-15:00。 （四）会议召开地点：广东省深圳市龙华区民治街道北站社区汇隆商务中心 2 号楼 42 层。 （五）会议召开方式：采取 ...

证券代码：300888 证券简称：稳健医疗 公告编号：2024-079 稳健医疗用品股份有限公司 关于 2024 年限制性股票激励计划内幕信息知情人 买卖公司股票情况的自查报告 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。 稳健医疗用品股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日召开第四 届董事会第四次会议和第四届监事会第四次会议，审议通过《关于公司<2024 年限制性 股票激励计划（草案）>及其摘要的议案》等相关议案。具体内容详见公司在中国证监 会指定创业板信息披露网站上披露的公告。 根据《上市公司股权激励管理办法（2018 年修订）》（以下简称"《管理办法》"）、 《深圳证券交易所创业板上市公司自律监管指南第 1 号——业务办理（2024 年修订）》 （以下简称"《业务办理指南》"）等法律、法规和规范性文件的相关规定，通过向中 国证券登记结算有限责任公司深圳分公司查询，公司对 2024 年限制性股票激励计划（以 下简称"本激励计划"）的内幕信息知情人在本激励计划（草案）公开披露前 6 个月内 （以下简称"自查期间"）买卖公司股票的 ...

Investment Rating - The investment rating for the company is "Buy" and is maintained [7]. Core Insights - The company achieved revenue, net profit attributable to shareholders, and net profit excluding non-recurring items of 2.04 billion, 170 million, and 140 million yuan in Q3 2024, representing year-on-year changes of +16.8%, -88.5%, and +104.5% respectively. For the first three quarters, the cumulative revenue, net profit attributable to shareholders, and net profit excluding non-recurring items were 6.07 billion, 550 million, and 470 million yuan, with year-on-year changes of +1.0%, -74.3%, and -24.0% respectively [3][4]. Revenue Analysis - In Q3, revenue accelerated with a year-on-year increase of 20.6% to 1.08 billion yuan, driven by core product categories. The core product, the dry and wet cotton soft towel, led the growth with a year-on-year increase of 47.1%. The sanitary napkin and adult clothing categories also saw year-on-year growth rates of 17.1% and 23.8% respectively. Both online and offline channels contributed to growth, with online and offline revenues increasing by 14% and high double digits year-on-year respectively [4][5]. - Medical revenue in Q3 increased by 13.1% to 940 million yuan, with conventional consumables growing by 14.3% to 850 million yuan. Core categories such as high-end dressings and health personal care maintained growth rates of +33.5% and +36.2% year-on-year respectively. Overseas revenue increased by 12.7% year-on-year, supported by the completion of the GRI acquisition, which is expected to enhance overseas capacity and localization [4][5]. Profitability Analysis - The gross margin in Q3 was 47.0%, remaining stable year-on-year. The year-on-year decline of 88.5% in net profit attributable to shareholders was primarily due to a significant profit boost from an urban renewal project in the same period last year, which added 1.36 billion yuan to profits. Excluding this impact, net profit attributable to shareholders increased by 62.2% year-on-year. The reduction in asset impairment losses and income tax expenses contributed positively to profitability [5][6]. - The company effectively controlled sales expenses, with sales, management, R&D, and financial expense ratios decreasing by 2.3 percentage points, 0.3 percentage points, and increasing by 0.1 percentage points and 1.0 percentage points year-on-year respectively, leading to a 3.1 percentage point increase in net profit margin excluding non-recurring items to 7.1% [5][6]. Future Outlook - The company aims to become a one-stop dressing provider by extending its product categories in the medical sector. In the consumer sector, it focuses on optimizing pricing and reducing costs to enhance profitability, with positive results starting from 2022. The strategy for 2023 is to concentrate on core products to gradually boost revenue. From 2024 onwards, the company plans to consolidate its conventional business and continue high-quality growth. The projected net profit attributable to shareholders for 2024-2026 is 800 million, 930 million, and 1.08 billion yuan, corresponding to P/E ratios of 24, 21, and 18 times [6][7].

证券代码：300888 证券简称：稳健医疗 公告编号：2024-078 稳健医疗用品股份有限公司 监事会关于 2024 年限制性股票激励计划激励对象名单的公示情况 说明及核查意见 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。 稳健医疗用品股份有限公司（以下简称"公司"）于 2024 年 10 月 25 日召开了第 四届董事会第四次会议、第四届监事会第四次会议审议通过了《关于公司<2024 年限制 性股票激励计划（草案）>及其摘要的议案》等相关议案。根据《上市公司股权激励管理 办法（2018 年修订）》（以下简称"《管理办法》"）、《深圳证券交易所创业板股票 上市规则（2024 年修订）》（以下简称"《上市规则》"）的相关规定，公司对 2024 年 限制性股票激励计划（以下简称"本激励计划"）激励对象的姓名和职务进行了内部公 示。公司监事会结合公示情况对激励对象的相关信息进行了核查，具体情况如下： 一、公示情况 1、公示内容：本激励计划激励对象的姓名及职务。 2、公示时间：2024 年 10 月 29 日至 2024 年 11 月 7 日。 3、公示方式：公司 ...

Investment Rating - The report maintains a "Buy" rating for the company, indicating a positive outlook for its performance relative to the market [6]. Core Insights - The company reported a 17% year-on-year increase in revenue for Q3 2024, reaching 2.04 billion yuan, aligning with expectations. However, net profit attributable to shareholders fell by 88% to 170 million yuan due to a high base effect from the previous year [6][7]. - The medical business showed a recovery with a 13.1% year-on-year revenue growth in Q3, while the consumer goods segment accelerated with a 20.6% increase in the same period [6][7]. - The company has implemented an equity incentive plan aimed at achieving a revenue growth target of 13-18% from 2025 to 2027, reflecting confidence in future performance [6]. Financial Performance Summary - For the first three quarters of 2024, total revenue was 6.07 billion yuan, a 1% increase year-on-year, while net profit attributable to shareholders decreased by 74% to 553 million yuan [7]. - The gross margin for Q3 2024 was 48.1%, down 2 percentage points year-on-year, primarily due to high raw material costs [6][7]. - The company’s total revenue projections for 2024 are set at 8.75 billion yuan, with expected growth rates of 6.9% [7]. Business Segments - The medical segment accounted for 43.7% of total revenue in Q3 2024, with core products like high-end dressings and personal health care showing significant growth [6]. - The consumer goods segment represented 55.4% of total revenue, with standout products such as wet and dry cotton towels experiencing a 31.3% increase in sales [6][7]. Future Outlook - The company anticipates gradual recovery in gross margins as high-cost inventory is depleted, and it expects to benefit from the acquisition of GRI in future quarters [6]. - The forecast for net profit attributable to shareholders for 2024-2026 is adjusted to 790 million, 1.03 billion, and 1.16 billion yuan respectively, reflecting a slight downward revision for 2024 and upward adjustments for 2025 and 2026 [6][7].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company has achieved a revenue of 6.07 billion yuan in Q1-Q3 2024, representing a year-on-year growth of 1.0%. However, the net profit attributable to shareholders has decreased by 74.3% to 550 million yuan, and the net profit excluding non-recurring items has decreased by 24.0% to 470 million yuan. Excluding the high base effect from the urban renewal project, the net profit attributable to shareholders has decreased by 29.6% year-on-year [1] - In Q3 2024, the revenue growth has accelerated, with a year-on-year increase of 16.8%. The company has adjusted its profit forecast for 2024 downwards while raising the forecasts for 2025-2026, expecting net profits of 805 million, 1.062 billion, and 1.208 billion yuan for 2024-2026 respectively [1] - The medical consumables segment has shown a revenue of 2.66 billion yuan in Q1-Q3 2024, down 11.5% year-on-year, but Q3 revenue has increased by 13.1% to 940 million yuan. The core product categories have seen significant growth, with high-end dressings and health personal care products increasing by 33.5% and 36.2% respectively [1] - The health consumer goods segment has achieved a revenue of 3.36 billion yuan in Q1-Q3 2024, up 13.7% year-on-year, with Q3 revenue growth accelerating to 20.6%. Key products such as wet and dry cotton towels, sanitary napkins, and adult clothing have seen substantial increases in sales [1] Financial Summary - For Q1-Q3 2024, the gross margin is 48.1%, a decrease of 2.0 percentage points year-on-year, primarily due to rising raw material prices. The net profit margin is 7.8%, down 2.6 percentage points year-on-year [1] - The company has announced a restricted stock incentive plan, proposing to grant up to 7.476 million shares to no more than 308 individuals, with performance assessment requirements for the compound growth rates of the company's three major business segments from 2025 to 2027 [1] - The financial forecast indicates a revenue of 8.78 billion yuan for 2024, with a year-on-year decline of 27.9%, followed by a recovery in 2025 and 2026 with expected growth rates of 25.2% and 13.3% respectively [3]

请务必阅读正文之后的免责声明及其项下所有内容 稳健医疗（300888.SZ） 优于大市 第三季度收入增长 17%，消费与医疗板块增长均提速 第三季度收入同比增长 17%，毛利率持平。2024 年第三季度摆脱了去年感染 防护产品带来的高基数影响，营业收入同比+16.8%至 20.4 亿元。毛利率为 47.0%，同比持平。公司严控费率，销售费用率和管理费用率分别同比 -2.3/-0.3 百分点。主要受益于费用率改善，扣非归母净利润同比+104.6% 至 1.4 亿元，扣非归母净利率同比+3.1 百分点至 7.1%。由于去年同期稳健 工业园城市更新项目贡献的资产处置收益接近 13.6 亿元，资产处置收益占 收入比例为 91.6%，进而导致今年三季度归母净利润同比-88.5%至 1.7 亿元。 由于 GRI 收购后并入资产负债表，库存增加，期末存货金额同比+35.7%，存 货周转天数同比增加 10 天。 医疗业务增长提速，并购 GRI 后协同效应将逐渐显现。疫情基数影响消除后， 第三季度收入增长提速至双位数，同比+13.1%至 9.4 亿元，其中常规医用耗 材产品同比增长 14.3%至 8.5 亿元。渠道方面，前三季 ...