Xin Lang Cai Jing·2025-06-19 15:07Core Viewpoint - The announcement from Spring Medical indicates that a significant number of restricted shares, totaling 209 million shares or 54.52% of the total share capital, will be unlocked for trading on June 30, 2025, which may impact the company's stock liquidity and market dynamics [1][2]. Share Structure Changes - Before the unlocking, the number of restricted shares was 209.13 million, and after the unlocking, the number of unrestricted shares will increase to 383.56 million [2]. - The number of circulating shares before the unlocking was 17.44 million, which will rise to 38.4 million post-unlocking [1][2]. Stock Performance - As of June 19, the closing price of the company's stock was 16.85 CNY per share, with an initial offering price of 29.81 CNY per share, reflecting a decline of 43.48% from the offering price [2]. - The current stock price is 15.97 CNY per share, with a trailing twelve-month (TTM) price-to-earnings (P/E) ratio of 47.91, significantly higher than the industry average of 29.92 [3]. Financial Performance - For the most recent reporting period, the company reported revenue of 230 million CNY, a year-on-year increase of 3.6%, and a net profit attributable to shareholders of 58.07 million CNY, up 5.2% year-on-year [2]. - The net profit after excluding non-recurring items was 52.70 million CNY, reflecting a year-on-year increase of 7.81% [2]. - The net cash flow from operating activities was -75.34 million CNY, a year-on-year decline of 41.87% [2]. Company Overview - Spring Medical is primarily engaged in the research, development, production, and sales of implantable orthopedic medical devices, including joint prosthetics and spinal implants [3]. - The company's products are exported to various regions, including Asia, South America, Africa, Oceania, and Europe [3].