KDL(SH:603987) Chang Jiang Shang Bao·2025-09-04 00:05Core Viewpoint - Kangdelai (603987.SH) has introduced a strategic investor, Changsha Medical, to enhance its competitive position and valuation in the medical device industry through a share transfer of 21.84 million shares, representing 5% of the total share capital [2][4]. Group 1: Strategic Investment - Kangdelai's controlling shareholder, Kangdelai Group, plans to transfer 21.84 million shares to Changsha Medical at a price of 10.81 yuan per share, which is a 16.24% premium over the market price on the announcement date, totaling approximately 236 million yuan [2][4]. - After the transaction, Changsha Medical's stake in Kangdelai will increase to 6.45% from 1.45% [5][6]. Group 2: Financial Performance - In the first half of 2025, Kangdelai reported revenue of 1.125 billion yuan, a year-on-year increase of 0.17%, and a net profit of 125 million yuan, up 18.94% [3][7]. - The company's operating costs decreased by 3.37% to 757 million yuan, while the gross profit margin improved by 2.47 percentage points to 32.66% [8]. Group 3: Business Strategy and Development - Kangdelai focuses on integrating its medical device production capabilities and optimizing its product structure to enhance its competitive edge and profitability [8][9]. - The company has established four manufacturing bases across Shanghai, Zhejiang, Guangdong, and Guangxi, leveraging regional advantages to achieve cost efficiency and scale [8]. Group 4: Research and Development - In the first half of 2025, Kangdelai invested 51.67 million yuan in R&D, accounting for 4.59% of its revenue, and completed registrations for six new products [9].