Weigao Orthopaedic(SH:688161) Zheng Quan Ri Bao·2025-10-30 23:52Core Viewpoint - The company reported a revenue of 1,106.26 million yuan for the first three quarters of 2025, representing a year-on-year increase of 2.12%, while the net profit attributable to shareholders was 207.41 million yuan, up 26.24% year-on-year. However, the net profit for the third quarter decreased by 8.03% due to share-based payment expenses related to the 2025 equity incentive plan [5][6]. Financial Performance - The company achieved a revenue of 365.34 million yuan in the third quarter, a year-on-year increase of 9.80%, but the net profit attributable to shareholders was 65.45 million yuan, down 8.03% [5]. - Excluding the impact of share-based payment expenses, the net profit attributable to shareholders for the third quarter would have been 76.89 million yuan, reflecting an 8.1% year-on-year growth [5]. Business Operations - The orthopedic procurement execution remained stable, with domestic leading brands increasing their market share. The company is transforming its sales model, focusing on specialized departments to enhance marketing structure and improve clinical service levels, leading to sustained growth in revenue and sales [5][6]. - The joint product line saw a revenue of 273.22 million yuan in the first three quarters, a decrease of 9% year-on-year, while sales volume increased by 15% [5]. - The spinal minimally invasive product line reported a 3% increase in revenue and a 13% increase in sales volume year-on-year [6]. - The organization repair product line achieved sales revenue of approximately 163.69 million yuan, a year-on-year increase of 24%, with sales volume up 23% [6]. Shareholder Information - The company’s board of directors confirmed the authenticity and completeness of the quarterly report, ensuring no false records or significant omissions [2][9]. - The company’s major shareholders and their holdings were disclosed, with no changes reported in the top ten shareholders due to share lending activities [4]. Investment Activities - The company plans to invest 60 million yuan as a limited partner in a newly established partnership focused on the healthcare industry, with a total subscription amount of 300 million yuan [41][43]. - This investment is not classified as a related party transaction or a significant asset restructuring and has been approved by the board of directors without the need for shareholder meeting approval [41][45].