Maider Medical Industry Equipment (SH:688310) Xin Lang Zheng Quan·2025-10-31 06:58Core Viewpoint - Midea Medical, established in 2003 and listed in 2019, specializes in the research, production, and sales of medical consumables and intelligent equipment, holding several patents in the field [1]. Group 1: Business Performance - For Q3 2025, Midea Medical reported revenue of 225 million yuan, ranking 21st among 25 companies in the industry, with the industry leader achieving 3.653 billion yuan [2]. - The net profit for the same period was -5.46 million yuan, placing the company 18th in the industry, while the top performer reported a net profit of 417 million yuan [2]. Group 2: Financial Ratios - As of Q3 2025, Midea Medical's debt-to-asset ratio was 29.86%, lower than the industry average of 35.98% [3]. - The gross profit margin for Q3 2025 was 40.19%, which is above the industry average of 33.21% [3]. Group 3: Executive Compensation - The chairman, Lin Junhua, received a salary of 1.3803 million yuan in 2024, an increase of 909,300 yuan from the previous year [4]. Group 4: Shareholder Information - As of September 30, 2025, the number of A-share shareholders increased by 19% to 4,528, while the average number of shares held per shareholder decreased by 15.97% to 36,700 shares [5]. Group 5: Future Outlook - According to Guosheng Securities, Midea Medical's performance in the first half of 2025 declined due to fluctuations in downstream demand, but showed significant improvement in Q2 [6]. - The company has a strong order backlog for new products, with 21 units of drug-device combination products expected to drive growth [6]. - Revenue projections for 2025 to 2027 are 501 million, 606 million, and 734 million yuan, with corresponding net profits of 80 million, 108 million, and 131 million yuan, indicating substantial growth [6].