深圳开立生物医疗科技股份有限公司 深圳开立生物医疗科技股份有限公司董事会 关于 2025 年第三季度报告披露的提示性公告 2025 年 10 月 28 日 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 深圳开立生物医疗科技股份有限公司 2025 年第三季度报告于 2025 年 10 月 29 日在中国证监会指定的创业板信息披露网站巨潮资讯网（http://www.cninfo.co m.cn/）上披露，敬请投资者查阅。 证券代码：300633 证券简称：开立医疗 公告编号：2025-047 特此公告。 ...

证券代码：300633 证券简称：开立医疗 公告编号：2025-046 深圳开立生物医疗科技股份有限公司 第四届监事会第十一次会议决议公告 具体内容详见公司在中国证监会指定的创业板信息披露网站巨潮资讯网披 露的《2025 年三季度报告》。 表决结果：3 票同意，0 票反对，0 票弃权。同意票数占总票数的 100%。 三、备查文件 1、第四届监事会第十一次会议决议。 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 2025 年 10 月 27 日，深圳开立生物医疗科技股份限公司（以下简称"公司"） 第四届监事会第十一次会议在深圳市光明区光电北路 368 号开立医疗大厦一楼 会议室召开。本次会议由监事会主席陈欣主持。应出席监事 3 名，实际出席监事 3 名。符合《公司章程》规定的法定人数，本次监事会会议决议合法有效。 二、监事会会议审议情况 经与会监事审议表决，一致通过了如下决议： 1、审议通过《关于公司<2025 年三季度报告>的议案》 经审核，监事会认为：董事会编制和审核公司 2025 年三季度报告的程序符 合法律、行政法规和中国证监会 ...

深圳开立生物医疗科技股份有限公司 第四届董事会第十二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，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 2025 年 10 月 27 日，深圳开立生物医疗科技股份有限公司（以下简称"公 司"）第四届董事会第十二次会议以现场和通讯表决相结合的方式在深圳市光明 区光电北路 368 号开立医疗大厦一楼会议室召开。本次会议已于 2025 年 10 月 22 日以电话、电子邮件等方式通知全体董事。 本次会议应出席董事 7 人，实际出席董事 7 人，会议由董事长陈志强先生主 持，符合《公司章程》规定的法定人数，会议的召集、召开符合《公司法》和《公 司章程》的有关规定。 证券代码：300633 证券简称：开立医疗 公告编号：2025-045 二、董事会会议审议情况 经与会董事投票表决，审议通过了如下决议： 1、审议通过《关于公司<2025 年三季度报告>的议案》 经审议，董事会一致认为：公司 2025 年三季度报告真实反映了公司 2025 年前三季度的财务状况和经营成果，符合法律、行政法规、中国证监会和深圳证 券交易所的相关规定，报告内容 ...

Group 1 - The core viewpoint of the article highlights that the company reported a revenue of 495 million yuan for the third quarter, representing a year-on-year growth of 28.42% [1] - The net profit for the third quarter was a loss of 13.52 million yuan [1] - For the first three quarters, the company achieved a revenue of 1.459 billion yuan, which is a year-on-year increase of 4.37% [1] Group 2 - The net profit for the first three quarters was 33.51 million yuan, showing a significant year-on-year decline of 69.25% [1]

Revenue and Profitability - Q3 2025 revenue reached ¥495,046,605.15, a 28.42% increase compared to ¥385,505,275.46 in the same period last year[5] - Net profit attributable to shareholders was ¥13,519,199.57, down 78.05% from ¥61,587,550.89 year-on-year[5] - Total operating revenue for the current period reached ¥1,459,311,230.15, an increase of 4.4% compared to ¥1,398,196,592.81 in the previous period[21] - Net profit for the current period was ¥33,511,062.11, a decrease of 69% compared to ¥108,985,799.47 in the previous period[22] - Basic earnings per share decreased to -¥0.0312, a decline of 78.09% from -¥0.1424 in the same period last year[5] - Basic earnings per share decreased to ¥0.0774 from ¥0.2520 in the previous period, reflecting a significant decline in profitability[23] - The total comprehensive income for the current period was ¥43,270,305.45, down from ¥111,317,494.35 in the previous period, indicating a decline in overall financial health[23] Cash Flow and Financial Position - The net cash flow from operating activities was ¥380,972,060.00, a significant increase of 1,294.04% compared to ¥31,906,075.99 in the previous year[5] - Cash flow from operating activities decreased to ¥1,453,350,399.53 from ¥1,500,680,815.11, indicating a decline in cash generation from core operations[25] - Operating cash inflow totaled $1,620,769,293.86, a decrease from $1,694,856,768.64 in the previous period[26] - Operating cash outflow increased to $2,001,741,353.86 from $1,662,950,692.65, resulting in a net cash flow from operating activities of -$380,972,060.00 compared to $31,906,075.99 previously[26] - Cash paid to employees increased to $713,772,007.99 from $651,268,066.41[26] - Cash paid for other operating activities rose to $367,302,857.01 from $301,322,900.11[26] Assets and Liabilities - Total assets at the end of the reporting period were ¥4,116,016,210.53, a decrease of 4.57% from ¥4,312,997,155.23 at the end of the previous year[5] - Total current assets decreased from CNY 2,974,995,087.77 to CNY 2,673,062,414.67, a reduction of about 10.1%[16] - Total liabilities decreased to ¥996,867,693.17 from ¥1,204,774,675.82, indicating a reduction in financial obligations[22] - Short-term borrowings decreased from CNY 262,207,517.28 to CNY 224,260,541.20, a reduction of about 14.5%[18] - Accounts payable decreased from CNY 331,545,887.07 to CNY 304,032,262.04, a decline of approximately 8.3%[18] Inventory and Investments - Inventory increased by 38.13% to ¥902,073,900.00, attributed to increased stockpiling[8] - The company reported a 96.68% decrease in trading financial assets, with a balance of ¥14,556,100.00 compared to the beginning of the year[8] - Investment income rose by 183.53% to ¥2,078,200.00, mainly due to increased returns from financial products[10] - Cash flow from investing activities increased by 176.08% to ¥325,548,400.00, reflecting reduced cash outflows related to investments[11] Shareholder Information - Total number of common shareholders at the end of the reporting period is 16,131[13] - The top two shareholders, Chen Zhiqiang and Wu Kunxiang, each hold 22.12% of shares, totaling 95,725,200 shares[13] Other Financial Metrics - The company reported a financial expense of -¥38,303,603.88, which is an increase in net financial income compared to -¥27,355,896.24 in the previous period[22] - Other comprehensive income after tax for the current period was ¥9,759,243.34, significantly higher than ¥2,331,694.88 in the previous period, reflecting improved financial performance in this area[23] - The company has a goodwill of CNY 110,530,076.89, slightly down from CNY 112,506,143.69[18] - The company has no preferred shareholders or related matters to report[15]

Core Viewpoint - The stock of Kaili Medical (300633) has shown a slight increase of 2.04% on October 24, 2025, closing at 33.56 yuan, despite a net outflow of major funds [1][2]. Financial Performance - For the first half of 2025, Kaili Medical reported a main revenue of 964 million yuan, a year-on-year decrease of 4.78%, and a net profit attributable to shareholders of 47.03 million yuan, down 72.43% year-on-year [3]. - The company's second-quarter results showed a main revenue of 534 million yuan, a slight increase of 0.17% year-on-year, but a net profit decline of 44.65% year-on-year [3]. Market Position - Kaili Medical's total market capitalization is 14.522 billion yuan, which is higher than the industry average of 11.653 billion yuan, ranking 21st out of 124 in the medical device industry [3]. - The company's price-to-earnings ratio (P/E) stands at 154.39, significantly higher than the industry average of 94.97, ranking 79th out of 124 [3]. Investment Sentiment - In the last 90 days, 22 institutions have rated the stock, with 14 buy ratings and 8 hold ratings, indicating a generally positive outlook [4]. - The average target price set by institutions over the past 90 days is 41.63 yuan, suggesting potential upside from the current price [4].

Core Viewpoint - The stock of Kaili Medical has shown fluctuations in price and trading volume, with a current market capitalization of 14.526 billion yuan, reflecting a year-to-date increase of 14.61% [1] Financial Performance - For the first half of 2025, Kaili Medical reported a revenue of 964 million yuan, a year-on-year decrease of 4.78%, and a net profit attributable to shareholders of 47.03 million yuan, down 72.43% year-on-year [2] - Cumulative cash dividends since the A-share listing amount to 381 million yuan, with 258 million yuan distributed over the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders decreased by 1.46% to 14,300, while the average circulating shares per person increased by 1.48% to 30,244 shares [2] - Major shareholders include Hua Bao Zhong Zheng Medical ETF, which increased its holdings by 134,200 shares, and Guangfa Healthcare Stock A, which increased its holdings by 836,200 shares [3] Stock Performance - As of October 24, the stock price of Kaili Medical was 33.57 yuan per share, with a trading volume of 19.4548 million yuan and a turnover rate of 0.14% [1] - The stock has experienced a 1.57% increase over the last five trading days, a 3.20% decrease over the last 20 days, and a 5.43% increase over the last 60 days [1] Business Overview - Kaili Medical, established on September 27, 2002, specializes in the research, development, production, and sales of medical diagnostic and treatment equipment, with main revenue sources being color Doppler ultrasound (58.07%) and endoscopes (40.90%) [1] - The company is categorized under the pharmaceutical and biological industry, specifically in medical devices [1]

Summary of Conference Call Records Industry Overview - The medical imaging equipment market has shown significant recovery in 2025, with MRI equipment market growing by 70% year-on-year and procurement amounts increasing by 67% [1][10] - The ultrasound equipment procurement amount increased by 61% year-on-year, with procurement volume rising by 75% [1] Key Companies and Market Performance - **United Imaging**: - Achieved a 20% market share in sales and 25%-30% in volume for CT equipment, with high-end models like UCT 960 and 860 seeing increased sales [1][6] - In the PET CT segment, United Imaging maintained a 51% market share in the first seven months of 2025 [12] - The company’s average selling price for high-end products reached 18.04 million yuan [9] - **Mindray**: - Reported a year-on-year growth rate of 40% in procurement amounts from January to September 2025 [2] - Maintained a leading position in the ultrasound equipment market with a sales volume share of 38% [18] - **Neusoft**: - Rapidly increased market share through competitive pricing strategies [1][7] Market Trends and Dynamics - The domestic market share of Chinese-made radiological imaging equipment rose from 12% in 2019 to 37% by July 2025, driven by supportive procurement policies [1][3] - The CT equipment market experienced a decline in 2024 due to policy impacts but showed recovery towards the end of the year, with a 31% year-on-year sales increase in the first seven months of 2025 [1][6] - The procurement situation for medical devices in 2025 showed significant growth, with overall procurement amounts increasing by 54% year-on-year [2] Pricing and Competition - The average price of domestic products is lower than that of imported ones, which affects total sales despite high volume [8] - High-end products are expected to gain more market recognition, which is crucial for improving competitiveness against imported brands [8] Specific Equipment Insights - **MRI Equipment**: - The market share of United Imaging in MRI sales reached 27% in 2024, surpassing GE [10][11] - The domestic sales localization rate for MRI equipment was 40% in terms of sales value [11] - **Molecular Imaging Equipment**: - The market size reached 2.2 billion yuan in the first seven months of 2025, with United Imaging holding a 59% market share in PET CT sales in 2024 [12] - **Radiotherapy Equipment**: - United Imaging's integrated CT-guided linear accelerator achieved a 15% sales market share by July 2025 [16] - The overall sales amount for radiotherapy equipment in the first seven months of 2025 was 4 billion yuan, reflecting a year-on-year growth of 14.74% [15] Future Outlook - The high-end medical imaging sector is expected to see increased investment in photon technology CT and high-performance tubes, with United Imaging leading in innovation [19][21] - Despite challenges from international policies affecting exports, companies like United Imaging continue to perform well in both emerging and developed markets [22]

Core Insights - Nanshan District in Shenzhen is emerging as a leading innovation hub, with 218 listed companies and over 5,500 national high-tech enterprises by October 2025, showcasing a robust innovation ecosystem [1][3]. Group 1: Innovation Ecosystem - The innovation vitality in Nanshan stems from respect for market rules and careful cultivation of the innovation ecosystem, featuring major players like Tencent and DJI alongside numerous innovative SMEs [2]. - Nanshan has implemented supportive policies since 2013, including the "Six Actions to Support Innovation and Entrepreneurship" plan, which provides financial, spatial, and application scenario incentives to stimulate entrepreneurial activity [3][4]. - The region boasts an impressive patent ownership rate, with 826 invention patents per 10,000 people, which is 23 times the national average [3]. Group 2: Policy and Financial Support - Nanshan's policy approach encourages market-driven innovation without strictly defining industries, leading to the emergence of key sectors such as fintech, robotics, and logistics, as well as new fields like semiconductors and artificial intelligence [4]. - A strategic direct investment seed fund and angel fund totaling 500 million yuan have been established to support startups in AI and robotics, allowing for a high-risk tolerance in funding [4]. Group 3: Talent Attraction and Development - Nanshan has developed a talent-centric environment, providing various support measures for young professionals, including rent-free housing for recent graduates and affordable industrial research spaces [6][7]. - The district has a talent pool of 1.2 million, with high-level talents constituting over 50% of the total, fostering collaboration and innovation across different sectors [7]. Group 4: Global Integration - Nanshan is positioning itself as a global innovation resource hub, with the establishment of the Global Service Center to assist companies in international expansion and facilitate cross-border collaborations [9]. - The district's enterprises, such as ZTE and DJI, have successfully penetrated international markets, demonstrating the effectiveness of its global outreach strategies [9][10]. Group 5: Industry Collaboration - The integration of academia and industry in Nanshan has created a robust innovation ecosystem, with partnerships between leading companies and universities enhancing technology transfer and collaborative research [10]. - The presence of major enterprises and research institutions has established Nanshan as a global center for the robotics industry, showcasing the importance of diverse business models and sustainable growth [10].

Group 1: Key Recommendations - The report highlights the strong performance of Cambricon (688256), with a year-on-year revenue increase of 2386.38% to 4.607 billion yuan and a net profit increase of 321.49% to 1.605 billion yuan for the first three quarters of 2025 [5][6][8] - The report emphasizes the significant growth in revenue and net profit driven by the cloud AI chip products, particularly the Siyuan 590, which is expected to benefit from increasing demand and domestic market penetration [6][8] - The company has completed a 3.985 billion yuan private placement, enhancing its financial stability and providing strong funding for future research and development [8][10] Group 2: Industry Insights - The biopharmaceutical sector experienced a decline of 2.48% in the week of October 13-17, 2025, underperforming the CSI 300 index by 0.26 percentage points, with a current PE valuation of 30.71 times [12][13] - The ESMO 2025 conference showcased significant clinical research advancements, with 448 abstracts from Chinese companies, highlighting the growing influence of Chinese pharmaceutical firms in the global market [13][14] - The report suggests focusing on leading companies with promising data in the innovative drug sector, as well as opportunities in CXO, medical devices, and healthcare services [14][15]