Core Insights - The report highlights the strong growth potential of Huakang Clean (301235) in the cleanroom integration service sector, focusing on both medical and electronic fields [2][3][5] - The company has a robust order backlog, with orders in hand for medical and laboratory cleanrooms increasing from 1.727 billion to 3.706 billion from 2022 to the first half of 2025, indicating sustained revenue growth [3][12] - The establishment of an electronic division in 2024 aims to leverage existing expertise and local resources, targeting a larger market in electronic cleanrooms [3][12] - The report projects significant revenue growth for Huakang Clean, estimating revenues of 2.542 billion, 3.547 billion, and 4.598 billion for 2025-2027, with corresponding net profits of 153 million, 225 million, and 332 million [3][12] Company Overview - Huakang Clean has been operating in the cleanroom integration service industry for 17 years, providing a full range of services including design, construction, procurement, and after-sales support [3][12] - The company serves over 800 high-quality clients across various sectors, including major hospitals and electronics firms [3][12] Market Dynamics - The medical cleanroom market is characterized by fragmentation, but Huakang Clean has successfully expanded its business despite challenging macroeconomic conditions [3][12] - The electronic cleanroom market is expected to grow, with Huakang Clean's strategy of targeting high-tier clients and their supply chains showing early success [3][12] Financial Projections - The report anticipates a compound annual growth rate (CAGR) of 49%, 40%, and 30% for revenues from 2025 to 2027, alongside a significant increase in net profit margins [3][12] - The estimated market valuation for Huakang Clean is projected at 5.1 billion, suggesting a potential upside of approximately 43% from its market value as of September 15, 2025 [3][12]

Market Overview - The Shanghai Composite Index closed at 3821.83 points, with a decline of 0.18% [1] - The total trading volume of A-shares reached 25,184.71 billion yuan [1] Technical Analysis - A total of 171 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Innovation Medical: 5-day MA at 22.60 yuan, 10-day MA at 23.25 yuan, a difference of -2.80% [1] - Xiangyu Medical: 5-day MA at 54.48 yuan, 10-day MA at 55.33 yuan, a difference of -1.54% [1] - Northern Long Dragon: 5-day MA at 122.21 yuan, 10-day MA at 123.92 yuan, a difference of -1.38% [1] Stock Performance - Key stocks with notable declines include: - Innovation Medical: down 2.97% with a turnover rate of 16.99% [1] - Xiangyu Medical: down 5.95% with a turnover rate of 2.14% [1] - Northern Long Dragon: down 2.23% with a turnover rate of 20.67% [1] - Other stocks with significant declines include: - Aorui: down 5.25% [1] - Changbai Mountain: down 7.15% [1] - Hengbao Shares: down 6.73% [1]

Market Overview - The Shanghai Composite Index closed at 3781.61 points, with a decline of 1.23% [1] - The total trading volume of A-shares reached 1713.539 billion yuan [1] Technical Analysis - A total of 228 A-shares experienced a death cross, where the 5-day moving average fell below the 10-day moving average [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Innovation Medical: 5-day MA at 22.55 yuan, 10-day MA at 23.23 yuan, a difference of -2.92% [1] - North Long Dragon: 5-day MA at 121.67 yuan, 10-day MA at 123.65 yuan, a difference of -1.60% [1] - Xiangyu Medical: 5-day MA at 54.49 yuan, 10-day MA at 55.34 yuan, a difference of -1.53% [1] Individual Stock Performance - Significant declines in stock prices include: - Innovation Medical: down 4.27% with a turnover rate of 14.36% [1] - North Long Dragon: down 4.52% with a turnover rate of 13.85% [1] - Xiangyu Medical: down 5.86% with a turnover rate of 1.42% [1] - Other notable declines: - Shandong Mining Machine: down 4.43% [1] - Huakang Clean: down 6.50% [1] - Beautiful Ecology: down 5.15% [1] Additional Stock Data - The following stocks also showed significant declines: - Yuyin Co.: down 5.46% [2] - Kexin Information: down 5.22% [1] - Visual China: down 3.88% [1] - Stocks with notable trading activity include: - Hengbao: down 6.64% with a turnover rate of 10.88% [2] - Changbai Mountain: down 6.53% with a turnover rate of 4.05% [2]

证券日报网讯 9月22日晚间，华康洁净发布公告称，公司实际控制人、控股股东谭平涛先生、胡小艳女 士在云南国际信托有限公司办理了股票解除质押业务。本次解除质押股份共计15，000，000股，占公司 总股本比例13.92%。 （文章来源：证券日报） ...

证券代码：301235 证券简称：华康洁净 公告编号：2025-111 转债代码：123251 转债简称：华医转债 武汉华康世纪洁净科技股份有限公司 关于公司实际控制人、控股股东股份解除质押的公告 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。 武汉华康世纪洁净科技股份有限公司（以下简称"公司"）近日接到公司实 际控制人、控股股东谭平涛先生、胡小艳女士的通知，获悉其所持有的公司股份 办理了解除质押业务，具体事项如下： 注 1：因公司可转债进入转股期，截至 2025 年 9 月 19 日，公司总股本为 107,767,268 股，本公告中计算占公司总股本比例以此为基数计算。 注 2：计算持股比例时，公司总股本未剔除回购专用账户中的股份数，下同。 二、股东股份累计质押情况 截至公告披露日，上述股东及其一致行动人所持质押股份情况如下： | | | | | 本次解 | | | 已质押股份情况 | | 未质押股份情况 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | ...

Core Viewpoint - The stock of Huakang Clean has experienced fluctuations, with a year-to-date increase of 60.86% but a recent decline in the last five and twenty trading days [1][2]. Company Overview - Huakang Clean is based in Wuhan, Hubei Province, and was established on November 12, 2008, with its listing date on January 28, 2022. The company specializes in the research, design, implementation, and operation of medical purification systems, along with the sale of related medical equipment and consumables [1]. - The revenue composition of Huakang Clean includes: 85.24% from purification system integration, 8.53% from medical consumables sales, 3.74% from medical equipment sales, 1.88% from operation services, and 0.61% from other sources [1]. Financial Performance - For the first half of 2025, Huakang Clean achieved an operating income of 835 million yuan, representing a year-on-year growth of 50.73%. The net profit attributable to the parent company was 18.68 million yuan, showing a significant increase of 273.48% [2]. - Since its A-share listing, Huakang Clean has distributed a total of 40.02 million yuan in dividends, with 29.46 million yuan distributed over the past three years [3]. Shareholder Information - As of September 10, 2023, Huakang Clean had 10,300 shareholders, a decrease of 8.37% from the previous period. The average number of circulating shares per person increased by 9.14% to 7,056 shares [2]. - Notable institutional holdings include Anxin Medical Health Stock A as the fifth largest shareholder with 652,800 shares, and Nuoan Multi-Strategy Mixed A as the tenth largest shareholder with 429,900 shares, both being new shareholders [3].

高举高打，强势切入电子洁净领域：依托在医疗领域积累的经验技术，以及武汉光谷当地资源禀赋，公 司2024 年成立电子事业部，切入市场更大的电子洁净领域，先后中标浙江晶引、宏茂微电子、海微科 技、先导芯光多个项目。公司采取高举高打策略，通过切入高层次客户及其供应链，已经实现了电子业 务的顺利起步。凭借光谷产业集群优势，公司电子业务可期。 投资要点： 17 年深耕洁净室集成：公司成立于2008 年，在洁净室集成服务领域深耕17 年，是国家级高新技术企 业，具备集"设计+施工+采购+售后"为一体的全产业链能力，业务覆盖医疗专项、实验室、电子洁净三 大战略领域，业务范围遍布全国20 多个省市自治区。公司已服务上海宏茂微电子（长江存储控股子公 司）、浙江晶引电子、海微科技、四川大学华西医院、山东大学齐鲁医院、浙江大学医学院附属第一医 院、武汉大学、上海交通大学等超800 余家优质客户。 医疗业务高增长，在手订单充沛：医疗洁净室市场格局分散。过去几年，面对医疗不利宏观环境，公司 采取积极策略，实现了快速业务扩张，收入持续高增长。凭借公司在医院业务积累的技术经验资源，公 司还成功切入到实验室洁净领域。在手订单（医疗+实验室） ...

Investment Rating - The report initiates coverage with a "Buy" rating for Huakang Clean Technology Co., Ltd. [1][7] Core Views - The company has a strong order backlog and a robust capability to win medical contracts, ensuring long-term stable growth in its medical business. The successful entry into the electronic cleanroom sector provides high growth potential. Revenue projections for 2025-2027 are CNY 25.42 billion, CNY 35.47 billion, and CNY 45.98 billion, with year-on-year growth rates of 49%, 40%, and 30% respectively. Net profit forecasts are CNY 1.53 billion, CNY 2.25 billion, and CNY 3.32 billion, with growth rates of 129%, 47%, and 47% respectively. The company's reasonable market capitalization is estimated at CNY 5.1 billion, indicating a potential upside of approximately 43% from its market value as of September 15, 2025 [6][7]. Summary by Sections 1. Deepening Cleanroom Field, Continuous High Growth - Huakang Clean has been deeply engaged in the cleanroom integration service sector for 17 years, providing comprehensive services including design, construction, procurement, and after-sales support. The company has served over 800 high-quality clients across various sectors, including healthcare and electronics [6][20][21]. - The company has achieved continuous revenue growth since 2017, with a CAGR of 24%. In the first half of 2025, revenue reached CNY 835 million, a year-on-year increase of 51% [23][26]. 2. Long-term Stable Medical Demand, High Prosperity in Electronics - The cleanroom market is expected to exceed CNY 500 billion by 2032, with a projected CAGR of over 7% from 2023 to 2032. The medical cleanroom market is driven by the increasing number of hospitals and the rising demand for ICU and surgical facilities [42][66]. - The electronic cleanroom market is also anticipated to grow significantly, supported by the high capital expenditure in the semiconductor industry, which is projected to remain robust [71][80]. 3. Increased Market Share in Medical Sector, Strong Entry into Electronics - The company has successfully expanded its market share in the medical cleanroom sector despite a challenging macro environment. The order backlog for medical and laboratory cleanrooms has grown from CNY 1.727 billion in 2022 to CNY 3.706 billion in the first half of 2025 [6][9]. - The establishment of the electronic cleanroom division in 2024 has allowed the company to tap into a larger market, leveraging its technical expertise and local resources [6][9]. 4. Profit Forecast and Valuation - The company is expected to maintain high growth, with revenue projections of CNY 25.42 billion, CNY 35.47 billion, and CNY 45.98 billion for 2025-2027. The net profit is forecasted to be CNY 1.53 billion, CNY 2.25 billion, and CNY 3.32 billion for the same period [5][7].

Core Viewpoint - Huakang Clean's stock experienced a decline of 1.07% on September 15, with a trading volume of 129 million yuan, indicating a potential concern in market sentiment towards the company [1]. Financing and Trading Data - On September 15, Huakang Clean had a financing buy-in amount of 8.33 million yuan and a financing repayment of 10.36 million yuan, resulting in a net financing outflow of 2.03 million yuan [1]. - As of September 15, the total financing and securities lending balance for Huakang Clean was 59.11 million yuan, which represents 1.66% of its market capitalization and is above the 80th percentile of the past year, indicating a high level of financing activity [1]. - There were no shares sold or repaid in the securities lending market on September 15, with a securities lending balance of 0, which is above the 70th percentile of the past year, suggesting a lack of short-selling activity [1]. Company Overview - Huakang Clean, established on November 12, 2008, and listed on January 28, 2022, is located in Wuhan, Hubei Province. The company specializes in the research, design, implementation, and operation of medical purification systems, along with the sale of related medical equipment and consumables [1]. - The revenue composition of Huakang Clean includes 85.24% from purification system integration, 8.53% from medical consumables sales, 3.74% from medical equipment sales, 1.88% from operation and maintenance services, and 0.61% from other sources [1]. Financial Performance - For the first half of 2025, Huakang Clean reported a revenue of 835 million yuan, reflecting a year-on-year growth of 50.73%. The net profit attributable to the parent company was 18.68 million yuan, showing a significant increase of 273.48% compared to the previous year [2]. - Since its A-share listing, Huakang Clean has distributed a total of 40.02 million yuan in dividends, with 29.46 million yuan distributed over the past three years [3]. Shareholder Information - As of September 10, Huakang Clean had 10,300 shareholders, a decrease of 8.37% from the previous period, while the average number of circulating shares per shareholder increased by 9.14% to 7,056 shares [2]. - Notable institutional holdings include Anxin Medical Health Stock A as the fifth largest circulating shareholder with 652,800 shares, and Nuoan Multi-Strategy Mixed A as the tenth largest with 429,900 shares, both being new shareholders [3].

Group 1 - The core point of the article highlights that Huakang Clean reported a decrease in the number of shareholders, with a total of 10,307 shareholders as of September 10, down by 942 from the previous period, representing a decline of 8.37% [2] - The closing price of Huakang Clean was 33.14 yuan, reflecting a decrease of 1.07%, and the stock price has cumulatively dropped by 12.28% since the concentration of shares began, with 5 days of increase and 6 days of decrease in the trading period [2] - The company's semi-annual report indicated that it achieved an operating income of 835 million yuan in the first half of the year, marking a year-on-year growth of 50.73%, and a net profit of 18.683 million yuan, which is a year-on-year increase of 273.48%, with basic earnings per share at 0.1900 yuan and a weighted average return on equity of 1.04% [2]