蓝帆医疗股份有限公司 第六届董事会第三十九次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、董事会会议召开情况 蓝帆医疗股份有限公司（以下简称"公司"）第六届董事会第三十九次会议于 2026 年 2 月 14 日以电子邮件的方式发出通知，于 2026 年 2 月 24 日以通讯表决的方式召开。 本次会议应参加会议董事 8 人，实际参加会议董事 8 人，全体董事以通讯的方式出席 会议。公司董事长刘文静女士主持了本次会议。会议的通知、召开、表决程序符合《中 华人民共和国公司法》和《蓝帆医疗股份有限公司章程》的规定。 二、董事会会议审议情况 1、审议并通过了《关于董事会提议向下修正"蓝帆转债"转股价格的议案》； | 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2026-014 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 具体内容详见刊登于公司指定的信息披露媒体《中国证券报》、《上海证券报》、《证 券时报》、《证券日报》和巨潮资讯网（http://www.cninfo.co ...

近5日资金流向一览见下表： 注：主力资金为特大单成交，游资为大单成交，散户为中小单成交 蓝帆医疗2025年三季报显示，前三季度公司主营收入41.82亿元，同比下降10.15%；归母净利润-2.86亿 元，同比下降30.09%；扣非净利润-3.64亿元，同比下降46.25%；其中2025年第三季度，公司单季度主 营收入14.01亿元，同比下降15.02%；单季度归母净利润-1.51亿元，同比下降153.64%；单季度扣非净利 润-1.55亿元，同比下降151.16%；负债率41.01%，投资收益1348.2万元，财务费用1.4亿元，毛利率 13.66%。蓝帆医疗（002382）主营业务：心脑血管业务、健康防护业务、应急救护业务、新营销业 务。 证券之星消息，截至2026年2月12日收盘，蓝帆医疗(002382)报收于5.81元，下跌1.86%，换手率 0.85%，成交量8.53万手，成交额4982.41万元。 资金流向名词解释：指通过价格变化反推资金流向。股价处于上升状态时主动性买单形成的成交额是推 动股价上涨的力量，这部分成交额被定义为资金流入，股价处于下跌状态时主动性卖单产生的的成交额 是推动股价下跌的力量 ...

Group 1: Domestic News - The Shanghai and Shenzhen Stock Exchanges have launched a package of measures to optimize refinancing, aimed at enhancing flexibility and better serving technological innovation and new productivity development. The measures emphasize support for high-quality listed companies and clarify the refinancing interval requirements for unprofitable innovative enterprises [2] - The Ministry of Finance and other departments announced tax incentives for cross-border e-commerce export return goods, exempting import duties and VAT for goods returned within six months due to unsold or returned reasons, effective from January 1, 2026, to December 31, 2027. This policy aims to reduce costs for cross-border e-commerce enterprises and support the development of new foreign trade formats [3] Group 2: International News - U.S. Treasury Secretary Basant indicated that the Federal Reserve may not quickly reduce its balance sheet, suggesting a cautious and observant approach to asset management. He mentioned that it could take up to a year for the Fed to decide on its balance sheet adjustments, alleviating concerns about rapid monetary tightening impacting market liquidity [4] Group 3: Bond Market Dynamics - On February 9, the bond market showed a warm trend, with the yield on the 10-year government bond falling to 1.8000%, down 0.20 basis points. The 10-year policy bank bond yield also decreased to 1.9210%, down 1.25 basis points [9][10] - The secondary market for credit bonds saw significant price deviations, with some bonds experiencing price changes exceeding 10%. For instance, "H9 Long Control 01" fell over 16%, while "H1 Vanke 04" rose over 13% [11] Group 4: Convertible Bonds - The convertible bond market followed the equity market's upward trend, with major indices rising. The China Convertible Bond Index, Shanghai Convertible Bond Index, and Shenzhen Convertible Bond Index increased by 1.25%, 1.16%, and 1.42%, respectively. The trading volume in the convertible bond market was 857.98 billion, down 29.57 billion from the previous trading day [21][22]

Core Viewpoint - Bluefan Medical (002382) has reported a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its business operations [2]. Financial Performance - For the first three quarters of 2025, Bluefan Medical's main revenue was 4.182 billion yuan, a year-on-year decrease of 10.15% [2]. - The net profit attributable to shareholders was -286 million yuan, down 30.09% year-on-year [2]. - The net profit excluding non-recurring items was -364 million yuan, reflecting a decline of 46.25% year-on-year [2]. - In Q3 2025, the company's single-quarter main revenue was 1.401 billion yuan, a decrease of 15.02% year-on-year [2]. - The single-quarter net profit attributable to shareholders was -151 million yuan, a significant drop of 153.64% year-on-year [2]. - The single-quarter net profit excluding non-recurring items was -155 million yuan, down 151.16% year-on-year [2]. - The company's debt ratio stood at 41.01% [2]. - Investment income was reported at 13.482 million yuan, while financial expenses amounted to 140 million yuan [2]. - The gross profit margin was 13.66% [2]. Market Activity - As of February 9, 2026, Bluefan Medical's stock closed at 6.02 yuan, with an increase of 0.84% [1]. - The turnover rate was 0.95%, with a trading volume of 94,600 hands and a transaction value of 56.912 million yuan [1]. - On February 9, the net inflow of main funds was 1.728 million yuan, accounting for 3.04% of the total transaction value [1]. - The net inflow of speculative funds was 1.7175 million yuan, representing 3.02% of the total transaction value [1]. - Retail investors experienced a net outflow of 3.4455 million yuan, which was 6.05% of the total transaction value [1].

| 证券代码：002382 | 证券简称：蓝帆医疗 | 公告编号：2026-013 | | --- | --- | --- | | 债券代码：128108 | 债券简称：蓝帆转债 | | 蓝帆医疗股份有限公司 关于预计触发可转债转股价格向下修正条件 的提示性公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导 性陈述或重大遗漏。 特别提示： 1、证券代码：002382，证券简称：蓝帆医疗 2、债券代码：128108，债券简称：蓝帆转债 3、转股价格：人民币 8.50 元/股 4、转股时间：2020 年 12 月 3 日至 2026 年 5 月 27 日 （三）可转债转股期限 根据《蓝帆医疗股份有限公司公开发行可转换公司债券募集说明书》（以下简称 "《募集说明书》"）的规定，本次发行的可转债转股期自可转债发行结束之日（2020 年 6 月 3 日）满六个月后的第一个交易日（2020 年12 月 3 日）起至可转债到期日（2026 年 5 月 27 日）止。 （四）可转债转股价格调整情况 1、公司于 2021 年 5 月 17 日召开第五届董事会第十五次会议，于 2021 年 6 月 ...

Core Viewpoint - The successful listing of Beixin Life on the STAR Market marks a significant moment for domestic cardiovascular precision diagnostic device companies, highlighting the importance of global market access facilitated by Bluefan Medical, its largest overseas distributor [1][2]. Group 1: Company Overview - Beixin Life was listed at a price of 17.52 yuan per share, with its stock price surging over 200% on the first day, closing at 49.64 yuan, resulting in a market capitalization of nearly 20 billion yuan [1]. - Bluefan Medical has established itself as a key player in the global market for domestic medical devices, having built a unique channel for exporting innovative domestic products [1][2]. Group 2: Global Expansion Strategy - Bluefan Medical's acquisition of Baisheng International in 2018 allowed it to create a cardiovascular division, gaining access to a sales network covering over 100 countries and numerous international certifications [1][2]. - The company has developed a comprehensive platform for Chinese innovative medical devices, providing services such as global registration, clinical data support, and overseas sales network connections [2]. Group 3: Financial Performance - Beixin Life's overseas revenue saw a dramatic increase of 130.29% year-on-year in the first half of 2025, largely due to Bluefan Medical's channel support [2]. - Bluefan Medical's cardiovascular division achieved revenue exceeding 1.4 billion yuan in 2025, marking a growth of over 24% year-on-year and turning profitable [7]. Group 4: Product Development and Market Position - Bluefan Medical has established a full layout in the cardiovascular field, covering interventional cardiology, structural heart disease, neurointervention, and peripheral intervention, making it one of the few companies with comprehensive solutions in this area [4][5]. - The company has set up R&D centers in Germany, Singapore, and Shanghai, enabling it to respond effectively to market demands and enhance its competitive edge [3]. Group 5: Future Outlook - The listing of Beixin Life is seen as the beginning of a new logic for domestic medical device exports, emphasizing the need for effective market access and commercialization capabilities [7]. - Bluefan Medical is positioned as a "ferry operator" for domestic medical devices, facilitating the entry of innovative companies into global markets and potentially leading to a revaluation of its value as more partners join its export platform [7].

Core Viewpoint - Bluefan Medical (002382) has experienced a decline in revenue and net profit for the first three quarters of 2025, indicating potential challenges in its business operations [2]. Financial Performance - For the first three quarters of 2025, Bluefan Medical reported a main revenue of 4.182 billion yuan, a year-on-year decrease of 10.15% [2]. - The net profit attributable to shareholders was -286 million yuan, down 30.09% year-on-year [2]. - The net profit after deducting non-recurring items was -364 million yuan, reflecting a significant decline of 46.25% [2]. - In Q3 2025, the company recorded a single-quarter main revenue of 1.401 billion yuan, a decrease of 15.02% year-on-year [2]. - The single-quarter net profit attributable to shareholders was -151 million yuan, a drastic decline of 153.64% [2]. - The single-quarter net profit after deducting non-recurring items was -155 million yuan, down 151.16% year-on-year [2]. - The company's debt ratio stands at 41.01%, with investment income of 13.482 million yuan and financial expenses of 140 million yuan [2]. - The gross profit margin is reported at 13.66% [2]. Market Activity - As of February 6, 2026, Bluefan Medical's stock closed at 5.97 yuan, with an increase of 1.19% [1]. - The trading volume was 86,300 hands, with a total transaction amount of 51.478 million yuan [1]. - On February 6, the net inflow of main funds was 3.8895 million yuan, accounting for 7.56% of the total transaction amount [1]. - The net inflow of speculative funds was 1.1186 million yuan, representing 2.17% of the total transaction amount [1]. - Retail investors experienced a net outflow of 5.0081 million yuan, which is 9.73% of the total transaction amount [1].

Core Viewpoint - The company has focused on a core strategic direction of "rapamycin drug balloons + intravascular imaging + special balloons + vascular reduction" in its cardiovascular division over the past five years, with a key real-world study confirming the leading nature of this technology route [1] Group 1 - A significant real-world study presented at the 2025 TCT Global Interventional Cardiology Conference demonstrated that rapamycin drug balloons achieved non-inferior results compared to stents in a population with over 60% complex lesions and large vessel primary lesions [1] - The study results validate the industry trend of rapamycin drug balloons replacing traditional stents [1] - The company has made systematic arrangements for years, locking in on the rapamycin drug balloon direction while simultaneously developing supporting intravascular imaging and special balloons, creating a comprehensive advantage of "technology route + product matrix + ecological synergy" [1] Group 2 - In product development, the company has a richer new product layout in the coronary artery field compared to its peers, including future vascular reduction products that will be paired with drug balloons [1] - The medical device industry has transitioned from "imitation and following" to "original competition," necessitating deep clinical cooperation with hospitals for future research and development [1] - The company has established clinical cooperation projects with several top-ranked hospitals in the domestic coronary artery industry, maintaining a leading position in original research and development [1]

Core Viewpoint - The company has a clear ability to anticipate fluctuations in raw material prices and has proactively completed raw material reserves for the first quarter of 2026 to lock in production costs [1] Group 1: Raw Material Strategy - The company will continue to adhere to a procurement strategy that emphasizes market trends over price, engaging in wave-based operations [1] - During periods of low prices for bulk trading raw materials for health protective gloves, the company will decisively purchase in excess to prepare for future price increases [1] - When anticipating a continuous decline in bulk trading raw material prices, the company will adopt a just-in-time purchasing approach to minimize costs and maintain a competitive edge [1]

Group 1 - The core viewpoint of the article is that Blue Sail Medical has reported a positive turnaround in the gross margin of its glove products starting from the fourth quarter of 2025 [1] - As of January 2026, glove prices have shown a steady recovery [1] - The company is enhancing its cost competitiveness through various initiatives, including the integration of nitrile glove production capacity with Thai industrial investors, the acquisition of Hongda Thermal Power to address energy supply shortages, and the establishment of a self-owned power plant at its Weifang factory [1]