格隆汇8月28日丨爱迪特(301580.SZ)在互动平台表示，公司目前生产和销售的3D打印机暂时不能实现自 动上下料。爱迪特3D打印机在设计时充分考虑了材料兼容性问题，市面上一些通用的齿科树脂材料， 若其性能指标符合爱迪特打印机的要求，经过适当的参数调整后能够进行打印作业。 ...

Core Viewpoint - Aidi Te (301580.SZ) is focusing on the dental restoration materials and digital dental equipment sectors, aiming to enhance operational quality and build a smart dental ecosystem while achieving stable growth across its business segments [1][2]. Financial Performance - In the first half of 2025, Aidi Te achieved revenue of 486 million yuan, a year-on-year increase of 17.22%, and a net profit of 92 million yuan, up 19.86%. The net profit excluding non-recurring items was 84 million yuan, reflecting a growth of 9.35%. The net cash flow from operating activities surged by 141.72% to 79 million yuan [1]. - In Q2 2025, the company reported revenue of 280 million yuan, marking a 16.61% increase year-on-year, with expectations for continued revenue growth [1]. Business Segments - The dental restoration materials segment generated revenue of 358 million yuan, a 19.19% increase, accounting for 73.74% of total revenue. The company has optimized its product structure and improved brand penetration and operational capabilities [2]. - The digital dental equipment segment achieved revenue of 96 million yuan, a 3.64% increase, representing 19.80% of total revenue, demonstrating steady growth [2]. Research and Development - Aidi Te, recognized as a national high-tech enterprise, invested 28.26 million yuan in R&D, a 36.12% increase, and holds 163 valid patents with complete independent intellectual property rights [3]. - The company obtained 9 new medical device registrations from NMPA, FDA, and CE during the reporting period, emphasizing its commitment to innovation and market differentiation [3]. Future Outlook - Aidi Te plans to enhance capabilities in clinical product and material R&D, digital technology development, market promotion, and industry chain collaboration, while actively seeking external acquisition opportunities to further develop the smart dental ecosystem [4].

Core Viewpoint - The company aims to deepen its overseas market presence by focusing on value customers and top-tier clients in key regions, leveraging brand marketing and workshops to reach smaller clients [1] Group 1: Overseas Market Strategy - The company is concentrating on value customers and top-tier clients in overseas markets to expand its reach [1] - Brand marketing activities and workshops are utilized to assist distributors in connecting with smaller clients [1] Group 2: Performance and Growth - The European and African markets showed growth that was nearly in line with the company's overall growth last year [1] - In the first half of this year, these markets experienced faster growth, driven by the successful implementation of the major client strategy [1] - The overseas market is expected to continue growing at a rate higher than the company's overall growth, becoming a significant source of revenue [1]

Core Viewpoint - The company reported a revenue contribution of 0.96 billion yuan from oral digital equipment, reflecting a year-on-year growth of 3.64% [1] Group 1: Digital Equipment Performance - The company indicated that due to in-house production of equipment, the competitiveness of its products has improved to some extent [1] - It is expected that by the first half of 2025, both the unit price and gross margin of digital equipment products will increase [1] Group 2: 3D Printing Business - Following the launch of new products at the beginning of the year, the 3D printing business experienced a small peak in orders starting in May, with current sales aligning with company expectations [1] - The company successfully obtained FDA certification for its crown bridge printing resin, and the full-arch removable denture printing/implant immediate load temporary tooth solution has been validated in the market, completing hundreds of successful validations at partner processing facilities [1]

证券日报网讯爱迪特（301580）8月27日发布公告，在公司回答调研者提问时表示，韩国沃兰公司2025 年上半年收入规模同比提升，集采政策落地后，种植手术价格大幅下降，老百姓对种植支付能力得以提 升，拉动全口种植的市场需求，公司全口即刻负重的解决方案为种植医生提供精度高、速度快、成本低 的术中戴牙的服务，患者在一期种植手术后即可获得六个月时间零缺牙的尊严。这对公司拓展中国种植 体市场具有积极意义。未来，公司将积极拥抱集采政策，做好供应链的整合，保证产品品质的前提下做 好成本管控，提供市场更具性价比的产品。通过公司渠道优势，建立种植的品牌知名度，提高市场渗透 率。 ...

Core Viewpoint - The company, Aidi Te (301580.SZ), has successfully developed and produced its own 3D printer products, marking a significant milestone in its technological capabilities [1]. Company Summary - Aidi Te has launched its self-researched and self-manufactured 3D printer products, indicating a strong commitment to innovation and self-sufficiency in technology development [1].

Group 1: Market Expansion and Performance - The company achieved overseas market revenue of 327 million, a year-on-year increase of 34% in the first half of 2025 [6] - The domestic market growth rate has slowed down, but the company continues to optimize coverage efficiency through new product launches, channel penetration, and digital operations [3] - The company focuses on value customers and top-tier clients in overseas markets, with a strategy to deepen market penetration through service to benchmark clients [4] Group 2: Product Development and Innovation - Revenue from digital dental equipment contributed 96 million, with a year-on-year growth of 3.64% [3] - The company invested 36% more in R&D in the first half of 2025, focusing on new materials, digital devices, and software [7] - Innovations in dental repair materials, such as fast-burning zirconia and non-sintering glass ceramics, are aimed at improving production efficiency [5] Group 3: Strategic Acquisitions and Market Positioning - The acquisition of the remaining stake in Korean company Wolan is expected to enhance the company's position in the implant market [3] - The company plans to embrace centralized procurement policies to improve supply chain integration and cost control while ensuring product quality [3] Group 4: Future Growth Expectations - The company anticipates that overseas market growth will continue to exceed overall company growth, becoming a major source of revenue [4] - The company recognizes the aging population trend and is developing products to meet the needs of elderly patients, which is expected to drive domestic business growth [5]

Core Insights - The company Aidi Te (301580) reported a revenue of 486 million yuan for the first half of 2025, marking a year-on-year increase of 17.22%, with a net profit of 92.04 million yuan, up 19.86% from the previous year [1] Financial Performance - Total revenue for Q2 2025 reached 280 million yuan, reflecting a 16.61% increase year-on-year [1] - The gross margin was 51.94%, a decrease of 1.39% compared to the previous year, while the net margin slightly increased to 18.57%, up 0.23% [1] - Total expenses (selling, administrative, and financial) amounted to 126 million yuan, accounting for 25.86% of revenue, which is an increase of 2.58% year-on-year [1] - Earnings per share (EPS) decreased by 2.27% to 0.86 yuan, while operating cash flow per share increased significantly by 72.66% to 0.74 yuan [1] Balance Sheet Highlights - Accounts receivable increased by 26.18% to 226 million yuan, with accounts receivable to net profit ratio reaching 150.13% [1][5] - Cash and cash equivalents decreased by 47.32% to 768 million yuan, attributed to increased cash receipts from sales [1][3] - Interest-bearing debt surged by 236.59% to 5.65 million yuan [1] Operational Insights - The company is expanding its business, leading to a 29.29% increase in accounts receivable and a 4.87% rise in inventory to mitigate supply chain risks [2] - Management expenses rose by 44.13% due to increased personnel costs and amortization of intangible assets [3] - Research and development expenses increased by 36.12%, reflecting a focus on innovation and new product registration [3] Cash Flow Analysis - Net cash flow from operating activities saw a significant increase of 141.72%, driven by higher cash receipts from sales and increased tax refunds [3] - Cash flow from investing activities decreased by 43.67%, indicating a focus on cash management [3] - Cash flow from financing activities dropped by 106.31%, primarily due to last year's fundraising and current dividend payments [3] Market Position and Strategy - The company's return on invested capital (ROIC) was 8.94%, indicating average capital returns, with a historical median ROIC of 13.53% since its listing [3] - The business model relies heavily on marketing-driven performance, necessitating further analysis of the underlying drivers [4]

Core Insights - The company reported a total revenue of 486 million yuan for the first half of 2025, marking an increase of 71.37 million yuan compared to the same period last year, achieving a 17.22% year-on-year growth [1] - The net profit attributable to shareholders reached 92.04 million yuan, an increase of 15.25 million yuan from the previous year, reflecting a year-on-year growth of 19.86% [1] - The net cash inflow from operating activities was 79.15 million yuan, up by 46.41 million yuan year-on-year, representing a significant increase of 141.72% [1] Financial Ratios - The latest debt-to-asset ratio stands at 12.08%, a decrease of 0.05 percentage points from the same period last year [3] - The gross profit margin is reported at 51.94%, an increase of 0.95 percentage points from the previous quarter [3] - The return on equity (ROE) is 4.52%, which is an increase of 0.52 percentage points compared to the same period last year [3] Earnings Per Share and Turnover - The diluted earnings per share (EPS) is 0.86 yuan [3] - The total asset turnover ratio is 0.21 times, while the inventory turnover ratio is 1.40 times, reflecting an increase of 0.01 times year-on-year, which is a 0.37% growth [3] Shareholder Structure - The number of shareholders is 9,412, with the top ten shareholders holding a total of 68.60 million shares, accounting for 64.37% of the total share capital [3] - The largest shareholder is Tianjin Yuan Yi Enterprise Management Consulting Center (Limited Partnership) with a holding of 17.9% [3]

Meeting Information - The company will hold its third extraordinary general meeting of shareholders on September 16, 2025, combining on-site voting and online voting [1][2] - The meeting is convened by the board of directors, following the approval of the proposal to hold the meeting during the 22nd meeting of the third board of directors on August 25, 2025 [1][2] - The meeting complies with relevant laws, regulations, and the company's articles of association [1][2] - The record date for shareholders to attend the meeting is September 10, 2025 [1][2] Voting Procedures - Shareholders can vote either in person or online, but must choose one method; duplicate votes will be counted based on the first valid vote [1][2] - The online voting will be conducted through the Shenzhen Stock Exchange's internet voting system [1][2][7] - Specific registration requirements for different types of shareholders (corporate, individual, limited partnership) are outlined [3][4] Agenda Items - The main proposal for the meeting is to increase the estimated amount of daily related party transactions for 2025, which has already been approved by the board [2][5]