心脉医疗(688016) - 2025 Q2 - 季度财报

Important Notice and Profit Distribution Plan This report confirms the semi-annual report's integrity, highlights major risks, and details the 2025 semi-annual profit distribution plan, including a 13.00 yuan cash dividend per 10 shares - The report is unaudited, and all directors attended the board meeting, declaring the financial report to be true, accurate, and complete[5] - The company has detailed potential risks in Section III "Management Discussion and Analysis", "IV. Risk Factors" of this report[4] 2025 Semi-Annual Profit Distribution Plan | Indicator | Amount/Ratio | | :--- | :--- | | Cash Dividend per 10 Shares (tax incl.) (yuan) | 13.00 | | Total Proposed Cash Dividend (tax incl.) (yuan) | 157,408,999.80 | | Total Cash Dividend and Repurchase Amount (yuan) | 236,817,953.61 | | As % of H1 2025 Net Profit Attributable to Parent | 75.26% | | Total Cash Dividend and Repurchase and Cancellation Amount (yuan) | 157,408,999.80 | | As % of H1 2025 Net Profit Attributable to Parent | 50.03% | Section I Definitions This section defines common and professional terms, including company names, regulatory bodies, medical technologies, and policies, for clear report understanding - Common terms include company and related party names such as "CardioFlow Medical", "Shanghai Lanmai", "MicroPort Medical", and regulatory and certification terms like "NMPA" and "CE Certificate"[13] - Professional terms cover anatomical concepts like "aorta", "thoracic aorta", "abdominal aorta", "aortic arch", "peripheral vessels", and medical technologies and policies such as "aortic dissection", "TEVAR procedure", "TIPS", and "DRGs payment policy"[13][14] Section II Company Profile and Key Financial Indicators This section outlines company basics, stock info, and key financial indicators for H1 2025, noting a year-on-year decline in revenue and net profit I. Company Basic Information This section details the company's registration, contact information, stock overview, and information disclosure channels - The company's full name is Shanghai MicroPort CardioFlow Medical Technology (Group) Co., Ltd., abbreviated as CardioFlow Medical, with Zhu Qing as its legal representative[16] - The company's stock code is 688016, listed on the STAR Market of the Shanghai Stock Exchange[20] - The company's information disclosure newspapers are China Securities Journal, Shanghai Securities News, Securities Times, and Securities Daily, with the semi-annual report available at http://www.sse.com.cn[19](index=19&type=chunk) II. Key Accounting Data and Financial Indicators H1 2025 saw revenue, total profit, and net profit decline, with basic and diluted EPS also decreasing, alongside reduced ROE and R&D intensity Key Accounting Data (Jan-Jun 2025 vs Prior Period) | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue (yuan) | 714,429,779.98 | 787,174,656.18 | -9.24 | | Total Profit (yuan) | 366,935,691.12 | 471,155,238.14 | -22.12 | | Net Profit Attributable to Listed Company Shareholders (yuan) | 314,647,223.94 | 403,523,612.05 | -22.03 | | Net Cash Flow from Operating Activities (yuan) | 318,603,321.20 | 342,138,859.57 | -6.88 | Key Financial Indicators (Jan-Jun 2025 vs Prior Period) | Indicator | Current Period (Jan-Jun) | Prior Period | YoY Change (%) | | :--- | :--- | :--- | :--- | | Basic EPS (yuan/share) | 2.55 | 3.27 | -22.02 | | Diluted EPS (yuan/share) | 2.55 | 3.27 | -22.02 | | Weighted Average ROE (%) | 8.16 | 10.15 | Decrease by 1.99 percentage points | | R&D Investment as % of Operating Revenue (%) | 8.85 | 11.98 | Decrease by 3.13 percentage points | Balance Sheet Data (Current Period End vs Prior Year End) | Indicator | Current Period End | Prior Year End | Change (%) | | :--- | :--- | :--- | :--- | | Net Assets Attributable to Listed Company Shareholders (yuan) | 4,030,319,620.37 | 3,791,843,035.70 | 6.29 | | Total Assets (yuan) | 4,604,264,927.34 | 4,291,597,451.31 | 7.29 | III. Differences in Accounting Data Under Domestic and Overseas Accounting Standards There are no differences in the company's accounting data under domestic and overseas accounting standards during the reporting period - There are no differences in the company's accounting data under domestic and overseas accounting standards[24] IV. Non-Recurring Gains and Losses Items and Amounts This section lists H1 2025 non-recurring gains and losses, totaling 43,821,611.68 yuan, primarily from government grants and financial asset fair value changes Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Government Grants Recognized in Current Profit/Loss | 44,905,553.42 | | Fair Value Changes and Disposal Gains/Losses from Financial Assets/Liabilities Held by Non-Financial Enterprises (Excluding Effective Hedging Related to Normal Operations) | 7,659,856.97 | | Non-Current Asset Disposal Gains/Losses | -3,956.26 | | Other Non-Operating Income and Expenses Apart from the Above | -170,595.42 | | Less: Income Tax Impact | 7,325,665.13 | | Minority Interest Impact (After Tax) | 1,243,581.90 | | Total | 43,821,611.68 | V. Net Profit After Deducting Share-Based Payment Impact (Optional for Companies with Equity Incentive/Employee Stock Ownership Plans) Net profit attributable to shareholders after deducting share-based payment impact for H1 2025 was 322,883,294.70 yuan, a 21.64% year-on-year decrease Net Profit After Deducting Share-Based Payment Impact | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Net Profit After Deducting Share-Based Payment Impact (yuan) | 322,883,294.70 | 412,043,720.68 | -21.64 | VI. Explanation of Non-GAAP Performance Indicators The company has no non-GAAP performance indicators to explain during the reporting period - The company has no non-GAAP performance indicators to explain[28] Section III Management Discussion and Analysis This section discusses the company's industry, operations, core competencies, and risks, noting leading market position but declining H1 revenue and profit due to market changes I. Industry and Main Business Overview During the Reporting Period The company leads in aortic and peripheral vascular interventional devices, expanding globally, but H1 2025 revenue and profit declined due to market and pricing adjustments - The company's main business covers R&D, production, sales, and services of aortic and peripheral vascular interventional medical devices, committed to providing medical solutions for blood circulation diseases[29] - The company has a comprehensive product portfolio and leading scale in aortic interventional medical devices, successfully developing several domestically first-of-its-kind or globally first products, such as Castor® Branched Aortic Stent Graft[29][30] - In H1 2025, Cratos® Bran