Summary of Conference Call Notes Company and Industry Overview - The company operates in the ultrasonic equipment sector, focusing on applications in the semiconductor, lithium battery, and medical device industries [2][4][31]. Key Points and Arguments Revenue and Growth - The company's accessory business has shown stable growth, with monthly revenue around 20 million RMB, totaling approximately 120 million RMB for the first half of the year [2][3]. - Revenue from the semiconductor sector is expected to reach around 100 million RMB this year, doubling from last year's 40 million RMB, driven by increased orders from power plant expansions [17][32]. - The new energy sector is projected to see a revenue increase of over 50% this year, with first-half revenue around 80 million RMB [19]. Product Development and Market Position - The company has successfully entered the large customer market for semiconductor equipment, delivering three units with a unit value of about 10 million RMB, which is half the price of similar imported equipment [10][13]. - The company plans to launch breakthrough products in the semiconductor field, including ultrasonic solid crystal and ball welding technologies [16]. - The company maintains a high market share and gross margin in the ultrasonic equipment sector, supported by a strong R&D team of over 300 personnel [4][31]. Industry Trends and Future Outlook - The domestic HBM (High Bandwidth Memory) process capacity is expected to increase rapidly, with significant order growth anticipated from both existing and new customers in the coming year [15]. - The company is actively involved in the expansion of solid-state battery technologies, with confirmed products including ultrasonic detection and welding for solid-state batteries [20][21]. - The medical device market is identified as a key future growth area, with a market size estimated in the hundreds of billions, and several medical device certifications expected to be obtained this year [38][39]. Competitive Advantages - The company has a significant competitive edge in the power ultrasonic field, with a strong focus on R&D and the ability to quickly adapt to customer needs [34]. - The transition from traditional welding methods to ultrasonic welding in solid-state battery production is driven by performance improvements rather than cost considerations [25]. Additional Important Information - The company has been testing several new products, including aluminum-plastic film welding and ultrasonic cutting, which could collectively exceed a value of 20 million RMB [24]. - The company has established a distribution model for dental medical devices, leveraging distributors to reach end customers effectively [41]. - The company is also exploring the medical aesthetics equipment market, although progress is slower due to regulatory requirements [42]. This summary encapsulates the key insights from the conference call, highlighting the company's performance, strategic direction, and market opportunities.

Core Viewpoint - The article highlights the recent financing round completed by Huanying Medical, which will enhance its research and market expansion in ultrasound technology, particularly in interventional imaging, high-frequency imaging, ultrasound liquid transfer, and ultrasound therapy. Group 1: Company Overview - Huanying Medical was established in 2020 and is headquartered in Shenzhen, being incubated by the Shenzhen Institute of Advanced Technology, Chinese Academy of Sciences [2] - The company has built three major bases for research and development, pilot testing, and production focused on cutting-edge biomedical ultrasound technology [2] - As a platform company specializing in ultrasound technology, Huanying Medical leverages proprietary technologies in ultrasound transducer, active interventional catheter, and high-frequency ultrasound imaging systems [2] Group 2: Products and Technologies - Huanying Medical has successfully developed high-resolution color ultrasound, intracardiac ultrasound catheters, and non-contact ultrasound liquid transfer devices and consumables [3] - The company possesses proprietary technologies in ultrasound transducer, active interventional catheter, and high-frequency ultrasound imaging systems [3] - Huanying Medical has overcome key technical challenges in 4D-ICE, providing a cost-effective 4D intracardiac imaging solution for global users [3] Group 3: Recent Developments - On May 12, 2025, Huanying Medical announced the completion of a new financing round, led by Nanshan Venture Capital, with participation from existing shareholder Shanghai KET Investment Co., Ltd. [1] - The amount of the financing was not disclosed, and HaoYue Capital served as the exclusive financial advisor for this round [1] - The financing will support Huanying Medical in advancing its research and market expansion in various ultrasound technology fields [1]

Core Insights - Huaying Medical, a company specializing in ultrasound technology, has completed a new round of financing led by Nanshan Venture Capital, with participation from existing shareholder Shanghai Ke Investment Co., Ltd. and exclusive financial advisory from Haoyue Capital [1] - Founded in 2020 and incubated by the Shenzhen Institute of Advanced Technology, Huaying Medical possesses proprietary technologies in ultrasound transducers, active interventional catheters, and high-frequency ultrasound imaging systems, making it one of the few companies capable of mastering the entire ultrasound technology chain [1][4] - The company has a strong technical foundation, with its founder Dr. Qiu being an expert in ultrasound engineering and a background in top global ultrasound laboratories, contributing to the development of several commercially successful ultrasound products in China [1][4] Product Development - Huaying Medical has completed the product development of 4D-ICE, which enhances 2D imaging with real-time 3D visualization, significantly improving the visualization of structural heart procedures and lowering the threshold for doctors [2] - The company has mastered the complete core technology for 4D-ICE, including imaging probes, multi-directionally adjustable catheters, 4D imaging algorithms, and imaging hosts, aiming to provide the highest cost-performance 4D intracardiac imaging solutions globally [2] Market Position and Future Prospects - Huaying Medical is breaking the import monopoly in the ultrasound field, achieving breakthroughs in various areas such as upgraded ultrasound liquid handling devices, small animal high-frequency ultrasound imaging equipment, programmable ultrasound imaging devices, and photoacoustic multimodal imaging devices, with several being national exclusives or firsts [4] - Investors express confidence in Huaying Medical's potential, highlighting the team's strong technical accumulation and diverse product pipeline, which includes interventional catheter consumables and main equipment, mitigating future development limitations [6] - The company is well-positioned to respond positively to the domestic bulk procurement environment, providing significant benefits to patients with its core products [6]

Group 1 - Huaying Medical, a company with core component autonomy in ultrasound technology, has completed a new round of financing led by Nanshan Venture Capital, with participation from existing shareholder Shanghai Ke Investment [1] - Founded in 2020 and incubated by the Shenzhen Institute of Advanced Technology, Huaying Medical specializes in ultrasound transducer technology, active interventional catheter technology, and high-frequency ultrasound imaging systems, making it one of the few companies capable of mastering the entire ultrasound technology chain [1][2] - The company has a strong technical foundation backed by the Chinese Academy of Sciences and has undertaken significant ultrasound-related projects, showcasing deep technical reserves in innovative applications such as ultrasound catheter imaging and ultrasound therapy [2] Group 2 - The rise of precision treatment is driving rapid development in intracardiac imaging (ICE), with Huaying Medical positioned to leverage its full-chain autonomous technology for transducer localization, achieving cost reduction while maintaining stability [3] - Huaying Medical has completed product development for 4D-ICE, which enhances visualization in structural heart procedures, and possesses comprehensive core technologies for 4D-ICE, including imaging probes and algorithms [3] - The company is expanding its applications in ultrasound beyond imaging, breaking import monopolies with several exclusive domestic products in areas such as ultrasound liquid handling and high-frequency imaging devices [4] Group 3 - Investors express confidence in Huaying Medical's ability to address domestic procurement challenges and provide high-quality imaging solutions, particularly in the context of 4D-ICE technology [5] - The company has established a national high-tech platform for high-frequency medical ultrasound technology, with significant funding aimed at developing advanced ultrasound products [6] - Nanshan Venture Capital and Shanghai Ke Investment highlight the company's strong technical foundation and diverse product pipeline, positioning it as a potential industry leader in ultrasound technology [7][8]