Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected relative price increase of over 20% compared to the benchmark index within six months [15]. Core Insights - The company reported a significant increase in revenue and net profit for 2024, with revenue reaching 413 million yuan, a year-on-year growth of 25.51%, and net profit of 52 million yuan, a staggering increase of 815.36% [3][9]. - For Q1 2025, the company achieved a revenue of 104 million yuan, up 16.77% year-on-year, and a net profit of 18 million yuan, reflecting a growth of 328.63% [3]. - The company has expanded its market presence, with over 4,000 procedures performed using its pressure monitoring magnetic navigation radiofrequency ablation catheter in the domestic market, and has successfully conducted surgeries in 21 countries internationally [4][8]. Company Overview - The latest closing price of the company's stock is 21.64 yuan, with a total market capitalization of 10.2 billion yuan [2]. - The company has a total share capital of 471 million shares, with 125 million shares in circulation [2]. - The largest shareholder is Ningbo Meishan Bonded Port Area Huajie Equity Investment Management Co., Ltd. [2]. Financial Performance - The company forecasts revenue growth from 539 million yuan in 2025 to 956 million yuan in 2027, with corresponding year-on-year growth rates of 30.5%, 34.5%, and 31.9% respectively [9][11]. - The projected net profit for the same period is expected to rise from 74 million yuan in 2025 to 172 million yuan in 2027, with growth rates of 41.5%, 57.8%, and 47.6% [9][11]. - The company's PE ratio is projected to decrease from 142 times in 2025 to 61 times in 2027, indicating improving valuation metrics [9][11]. Product Development and Market Strategy - The company is focusing on enhancing its product matrix, including the launch of new products such as the Magbot™ catheter and the PulseMagic™ pressure pulse catheter, which are in various stages of regulatory approval [5][6]. - The company plans to increase its hospital coverage and promote core and new products in both domestic and international markets, aiming to enhance the penetration rate of its three-dimensional surgeries [8]

Company Overview - Shanghai MicroPort EP MedTech Co., Ltd. focuses on the development, production, and sales of innovative medical devices in the field of electrophysiology interventional diagnosis and ablation treatment [2] - The company aims to provide globally competitive integrated solutions for diagnosis and ablation treatment centered on precise interventional navigation [2] Product Portfolio - Major products include the Columbus 3D cardiac electrophysiology mapping system, EasyFinder 3D magnetic positioning adjustable mapping catheter, and various disposable mapping and ablation catheters [2] - The company’s cryoablation devices and balloon-type cryoablation catheters have been approved for inclusion in the "2024 Shanghai Biomedical 'New Excellent Drugs and Devices' Product Directory" [2] - The fourth-generation 3D cardiac electrophysiology mapping system is also listed in the "2024 Shanghai Innovative Product Recommendation Directory" [2] Financial Performance - For the fiscal year 2024, the company reported revenue of 413 million yuan, representing a year-on-year increase of 25.51% [3] - Net profit reached 52.07 million yuan, showing a significant year-on-year growth of 815.36% [3] - The gross profit margin stood at 58.73% [3] Market Position - As of April 15, the company's stock closed at 19.77 yuan, with a rolling price-to-earnings (PE) ratio of 178.68, significantly higher than the industry average PE of 46.44 [1][3] - The total market capitalization is approximately 9.304 billion yuan [1] - The company ranks 113th in terms of PE ratio within the medical device industry [1] Institutional Holdings - As of the latest report, 187 institutions hold shares in the company, including 184 funds, with a total holding of approximately 74.29 million shares valued at 1.415 billion yuan [1]

报名：首届全球眼科大会 | 议程更新 报名：首届全球心血管大会 | 奖项申报 报名：首届全球骨科大会 | 奖项评选 合作伙伴征集：2025全球手术机器人大会 近日， 上海微创电生理医疗科技股份有限公司（简称"微创电生理"）发布了截至2024年12月31日的年度业绩 公告。 # 财报数据 国内市场 2024年，公司 压力监测磁定位射频消融导管 手术量 超过4000例 ，覆盖医院 400余家 ，较上年医院覆盖量 增 长70%以上 ； 三维手术覆盖医院超过1100 余家，三维消融系列产品自上市以来累计手术量超过70000例。 2024年营业收入 为 4.13亿元 ，同比增长 25% ； 归 母净利润为5207万元，同比增长815%； 扣非归母净利润为508万元（上年同期为-3547万元）； 基本每股收益为0.11元/股，同比增长814%。 经营活动产生的现金流量净额为6733万元（上年同期为-3797万元）。 2024 Q4 营业收入 为 1.22亿元 ，同比增长 31% ； 归母净利润为1034万元，同比增长277%； 扣非归母净利润为583万元（上年同期为-1802万元）。 2024年主营业务收入 分产品 ： ...