Summary of the Conference Call Company Overview - The conference call was held by **稳健医疗** (Steady Medical) at their Shenzhen headquarters on January 23, focusing on updates and insights from the company’s management team, including the Secretary of the Board and Investor Relations representatives [1]. Key Points Discussed - The management provided insights into the company's current operational status and future strategies, emphasizing their commitment to innovation and market expansion [1]. - The company highlighted recent product launches and their impact on revenue growth, indicating a positive trend in sales performance [1]. - There was a discussion on the competitive landscape within the medical supplies industry, noting the challenges and opportunities presented by market dynamics [1]. Financial Performance - Specific financial metrics were not detailed in the provided content, but the management indicated a focus on improving profitability and operational efficiency [1]. - Future projections were mentioned, suggesting a cautious optimism regarding revenue growth in the upcoming quarters [1]. Industry Context - The call addressed broader industry trends, including regulatory changes and technological advancements that could affect market conditions [1]. - The management acknowledged the importance of adapting to these changes to maintain a competitive edge [1]. Additional Insights - The company expressed a commitment to sustainability and corporate social responsibility, which may enhance brand reputation and customer loyalty [1]. - There was a mention of potential partnerships and collaborations that could further strengthen the company’s market position [1]. This summary encapsulates the key discussions and insights from the conference call, providing a comprehensive overview of the company's current status and future outlook within the medical supplies industry.

Group 1 - The Sichuan Provincial Drug Administration announced the results of medical device supervision and sampling inspections, revealing that 17 batches of products did not meet standard requirements [1] - The non-compliant products included medical protective masks produced by Steady Medical (300888) Co., Ltd., with issues related to filtration efficiency and fit [1] - The inspection was conducted by the Sichuan Provincial Drug Inspection Research Institute, and relevant local market supervision authorities were instructed to investigate and take administrative action against the companies involved [1] Group 2 - Another batch of medical protective masks from Steady Medical (300888) Co., Ltd. was found to have non-compliance issues related to microbial limits, with the sampling unit being Ziyang Mental Hospital [2] - The financial report indicates that Steady Medical (Huanggang) Co., Ltd. is a wholly-owned subsidiary of the company [3]

Core Viewpoint - The company,稳健医疗, is currently operating normally without any undisclosed major risks, and it is actively expanding its international business in the medical supplies sector while also exploring consumer goods [2]. Group 1: Company Performance - As of January 19, 2026, the stock price of the company closed at 36.55 yuan, with a slight increase of 0.55% and a trading volume of 61,600 shares, amounting to a total transaction value of 225 million yuan [1]. - The company has been asked about the potential decline in its 2025 annual performance, with the management indicating that the situation will be clarified in future periodic reports [2]. Group 2: International Business Expansion - The company has established a solid foundation in overseas markets, having entered multiple countries and regions including Europe, the United States, Japan, South Korea, and Southeast Asia, with a focus on enhancing its competitive advantages and increasing the sales proportion of its proprietary brands [2]. - The consumer goods segment, particularly the全棉时代 brand, is in a phase of gradual exploration for global brand expansion [2]. Group 3: Regulatory Environment and Market Opportunities - The company’s core product,全棉时代, aligns well with the national quality supervision policies that emphasize high-quality cotton products, presenting potential market opportunities and positive impacts on performance [2]. - The company plans to leverage product innovation, quality control, and brand promotion to enhance consumer perception of "全棉=高品质安全" and strengthen its brand advantage [2]. Group 4: Investor Communication - The company values communication with investors and is considering the suggestion of releasing performance reports to boost market confidence and effectively showcase its brand to core consumer groups [3]. - The management is open to evaluating the feasibility of regular performance updates as part of its investor communication strategy [3].

Core Viewpoint - The company, Weigao Medical (300888), is currently operating normally and steadily, with no undisclosed major risks. Future performance for the year 2025 will be confirmed in subsequent periodic reports [1]. Group 1: Business Operations - The company has a solid foundation in its international medical business and is actively expanding into markets in Europe, America, Japan, South Korea, and Southeast Asia [1]. - The company is focusing on enhancing its competitive advantages by increasing the sales proportion of prominent categories and its own brands as part of its international supply chain development [1]. Group 2: Consumer Products - The overseas division of the company's consumer goods brand, All Cotton Era, is steadily testing the waters and will gradually promote the brand on a global scale [1].

Core Viewpoint - The company,稳健医疗, aims to enhance health, care for life, and protect the environment, striving to make the world a better place through its vision [1] Group 1: Company Overview - The company operates under two main brands: "winner稳健医疗" and "Purcotton全棉时代" [1] - Its product range includes wound care, infection protection, surgical consumables, personal care, home care, maternal and infant care, and home textiles and clothing [1] Group 2: Brand Strategy - The company plans to continuously convey brand value through appropriate channels [1] - There is a focus on enhancing the recognition and reputation of its two main brands [1]

Group 1 - The core viewpoint of the news is that Steady Medical (300888) has shown significant growth in its financial performance, with a notable increase in revenue and net profit for the first three quarters of 2025 compared to the previous year [2] - As of January 19, 2026, Steady Medical's stock closed at 36.55 yuan, with a slight increase of 0.55% and a trading volume of 61,600 lots, amounting to a total transaction value of 225 million yuan [1] - The company reported a main business revenue of 7.897 billion yuan for the first three quarters of 2025, representing a year-on-year increase of 30.1%, and a net profit attributable to shareholders of 732 million yuan, up 32.36% year-on-year [2] Group 2 - In the third quarter of 2025, the company achieved a single-quarter main business revenue of 2.601 billion yuan, which is a 27.71% increase year-on-year, and a net profit of 240 million yuan, reflecting a 42.11% year-on-year growth [2] - The company has a debt ratio of 33.87% and reported investment income of 33.23 million yuan, with financial expenses of -2.036 million yuan, indicating a strong financial position [2] - The gross profit margin for Steady Medical stands at 48.32%, showcasing its efficiency in managing production costs [2]

Core Viewpoint - The personal care products sector experienced a 1.96% increase on January 19, with Yanjiang Co., Ltd. leading the gains, while the Shanghai Composite Index rose by 0.29% and the Shenzhen Component Index increased by 0.09% [1] Group 1: Market Performance - The closing price of Yanjiang Co., Ltd. was 17.78, reflecting a significant increase of 19.97% with a trading volume of 767,100 shares and a transaction value of 1.28 billion yuan [1] - Baiya Co., Ltd. closed at 21.61, up by 4.60%, with a trading volume of 130,400 shares and a transaction value of 283 million yuan [1] - Reliable Co., Ltd. saw a closing price of 13.46, increasing by 2.12% with a trading volume of 32,300 shares [1] Group 2: Fund Flow Analysis - The personal care products sector had a net outflow of 50.30 million yuan from institutional investors, while retail investors saw a net inflow of 17.49 million yuan [2] - The main funds showed a net inflow of 7.99 million yuan into Stable Medical, while the retail funds had a net outflow of 16.41 million yuan [3] - In contrast, Jingya Co., Ltd. experienced a net outflow of 3.24 million yuan from main funds, but retail funds showed a net inflow of 5.23 million yuan [3]

Core Viewpoint - The stock of Shengjian Medical (300888.SZ) has experienced a decline of 4.54%, currently trading at 36.35 yuan, indicating it is in a state of breaking its initial public offering price [1] Group 1: IPO Details - Shengjian Medical was listed on the Shenzhen Stock Exchange's Growth Enterprise Market on September 17, 2020, with an issuance of 50 million shares at a price of 74.30 yuan per share [1] - The total funds raised by Shengjian Medical amounted to 3.715 billion yuan, with a net amount of 3.559 billion yuan after deducting issuance costs, which was 2.133 billion yuan more than the original plan [1] - The company initially aimed to raise 1.426 billion yuan for projects including high-end dressing production line construction, marketing network development, research and development center establishment, and digital management system project [1] Group 2: Underwriting and Fees - The underwriting institution for Shengjian Medical's IPO was China International Capital Corporation, with representatives Shen Lulu and Wang Haonan [1] - The total issuance costs were 156 million yuan, of which the underwriting fee for China International Capital Corporation was 123 million yuan [1] Group 3: Dividend Distribution - On May 27, 2023, Shengjian Medical announced its 2022 annual equity distribution plan, proposing a cash dividend of 19.00 yuan (including tax) for every 10 shares, along with a capital increase of 4 shares for every 10 shares held, without issuing bonus shares [1]

Core Viewpoint - The personal care products sector experienced a decline of 1.75% on January 16, with the leading drop attributed to Wanjian Medical, which fell by 4.54% [1][2]. Market Performance - The Shanghai Composite Index closed at 4101.91, down 0.26%, while the Shenzhen Component Index closed at 14281.08, down 0.18% [1]. - The personal care products sector saw a net outflow of 51.73 million yuan from institutional investors, while retail investors had a net inflow of 65.66 million yuan [2]. Individual Stock Performance - Key stocks in the personal care sector included: - Jieya Co., Ltd. (301108) closed at 35.96, up 2.42% with a trading volume of 14,900 lots and a transaction value of 52.94 million yuan [1]. - Wanjian Medical (300888) closed at 36.35, down 4.54% with a trading volume of 153,800 lots and a transaction value of 568 million yuan [2]. - Other notable declines included: - Baijia Co., Ltd. (003006) down 1.38% to 20.66 [1]. - Yiyi Co., Ltd. (001206) down 1.41% to 28.06 [1]. Fund Flow Analysis - The fund flow analysis indicated: - Dongkang Oral Care (001328) had a net inflow of 5.96 million yuan from institutional investors, but a net outflow of 9.41 million yuan from retail investors [3]. - Jieya Co., Ltd. (301108) saw a net inflow of 2.70 million yuan from institutional investors, but a net outflow of 2.20 million yuan from retail investors [3]. - The overall trend showed that retail investors were more active in the market despite the overall decline in the sector [2][3].

Core Viewpoint - The Sichuan Provincial Drug Administration has announced the results of medical device quality inspections, revealing that 17 batches of products failed to meet standards, prompting investigations and administrative actions against the responsible companies [3]. Group 1: Inspection Results - A total of 17 batches of medical devices were found to be non-compliant with standards [3]. - The inspection covered various medical devices, including protective masks and therapeutic instruments [3]. - Specific products listed include medical protective masks, mid-frequency therapeutic devices, and portable suction devices, with details on manufacturers and inspection results provided [3][4]. Group 2: Actions Taken - The Sichuan Provincial Drug Administration has mandated local market supervision authorities to investigate the companies associated with the non-compliant products [3]. - Administrative decisions will be made promptly and publicly announced regarding the companies involved [3].