Core Insights - The report highlights that the total salary of A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - A total of 1,144 company secretaries earned over 1 million yuan, accounting for more than 21% of the total [1] Salary Distribution - The average annual salary of company secretaries in the medical consumables sector is 817,000 yuan [2] - Salary distribution among company secretaries is as follows: below 500,000 yuan (30%), 500,000-1,000,000 yuan (41%), 1,000,000-2,000,000 yuan (27%), and above 2,000,000 yuan (2%) [2] - The top three highest-paid company secretaries are: Gong Xingliang from Nanwei Medical (2.2161 million yuan), Zhu Yu from Microelectrophysiology (1.6764 million yuan), and Lin Qing from Weigao Orthopedics (1.6142 million yuan) [2] Age and Education Distribution - The age distribution of company secretaries shows that those aged 40-50 constitute 45%, while those over 50 account for 14%, and those aged 30-40 make up 36% [1] - The educational background of company secretaries is as follows: 7% have an associate degree, 45% hold a bachelor's degree, 43% possess a master's degree, and 5% have a doctoral degree [1] Salary Changes - Among company secretaries with over two years of tenure, the largest salary decrease was observed for Bai Xue from Xishan Technology, with a year-on-year decline of 54.09% [2] - The highest salary increase was recorded for Chen Bin from Weili Medical, with a year-on-year increase of 191.72% [2]

Core Insights - The report highlights that in 2024, the total salary for A-share listed company secretaries reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - A total of 1,144 company secretaries earned over 1 million yuan, accounting for more than 21% of the total [1] Salary Distribution - The average annual salary for company secretaries in the medical consumables sector is 817,000 yuan [2] - Salary distribution among company secretaries is as follows: below 500,000 yuan (30%), 500,000-1,000,000 yuan (41%), 1,000,000-2,000,000 yuan (27%), and above 2,000,000 yuan (2%) [2] - The top three highest-paid company secretaries are: Gong Xingliang from Nanwei Medical (2.2161 million yuan), Zhu Yu from Microelectrophysiology (1.6764 million yuan), and Lin Qing from Weigao Orthopedics (1.6142 million yuan) [2] Age and Education Distribution - The age distribution of company secretaries shows that those aged 40-50 constitute 45%, while those over 50 account for 14%, and those aged 30-40 make up 36% [1] - The educational background of company secretaries is as follows: 7% have an associate degree, 45% hold a bachelor's degree, 43% possess a master's degree, and 5% have a doctoral degree [1] Salary Changes - Among company secretaries with over two years of tenure, the largest salary decrease was observed for Bai Xue from Xishan Technology, with a decline of 54.09% year-on-year [2] - The highest salary increase was recorded for Chen Bin from Weili Medical, with a rise of 191.72% year-on-year [2]

Core Insights - The report highlights that the total salary of A-share listed company secretaries in 2024 reached 4.086 billion yuan, with an average annual salary of 754,300 yuan [1] - A total of 1,144 company secretaries earned over 1 million yuan, accounting for more than 21% of the total [1] Salary Distribution - The average annual salary of company secretaries in the medical consumables sector is 817,000 yuan [2] - Salary distribution among company secretaries is as follows: below 500,000 yuan (30%), 500,000-1,000,000 yuan (41%), 1,000,000-2,000,000 yuan (27%), and above 2,000,000 yuan (2%) [2] - The top three highest-paid company secretaries are: Gong Xingliang from Nanwei Medical (2.2161 million yuan), Zhu Yu from Microelectrophysiology (1.6764 million yuan), and Lin Qing from Weigao Orthopedics (1.6142 million yuan) [2] Age and Education Distribution - The age distribution of company secretaries shows that those aged 40-50 constitute 45%, while those over 50 account for 14%, and those aged 30-40 make up 36% [1] - The educational background of company secretaries is as follows: 7% have an associate degree, 45% hold a bachelor's degree, 43% possess a master's degree, and 5% have a doctoral degree [1] Salary Changes - The largest salary decrease was observed for Bai Xue from Xishan Technology, with a year-on-year decline of 54.09% [2] - The largest salary increase was recorded for Chen Bin from Weili Medical, with a year-on-year increase of 191.72% [2]

Group 1: Agricultural Products - Company received approval from the China Securities Regulatory Commission for a stock issuance to specific targets, valid for 12 months from the date of approval [1] Group 2: Shareholder Reductions - Guangdong Science and Technology Venture Investment Co., Ltd. plans to reduce its stake in Hongqiang Co. by up to 211.6 million shares, representing 1% of total shares [1] - Huizhou Junqiang Equity Investment Partnership plans to reduce its stake in Green Precision by up to 123.8 million shares, representing 0.2995% of total shares [2] - Philips (China) Investment Co., Ltd. plans to reduce its stake in Chuangye Huikang by up to 46.33 million shares, representing 3% of total shares [2] - Chengdu Dijing Financial Consulting Center and Zhuo Yuqing plan to reduce their stake in Ruidi Zhichu by up to 194.65 million shares, representing 2.52% of total shares [4] - Ruizhong Life Insurance Co. plans to reduce its stake in Tongzhou Electronics by up to 752.44 million shares, representing 1% of total shares [5] - Zhejiang Taian Tai Investment Consulting Partnership plans to reduce its stake in Zhejiang Agricultural Shares by up to 15.2853 million shares, representing 3% of total shares [13] - Company executives plan to reduce their stake in Zhimi Intelligent by up to 47,000 shares, representing 0.0187% of total shares [18] Group 3: Financial Transactions - Shenzhen Metro Group will provide Vanke A with a loan of up to 1.681 billion yuan for debt repayment, with a term of no more than 3 years and an interest rate of 2.34% [6] - Sichuan Road and Bridge received a commitment letter for a stock repurchase loan of up to 180 million yuan from China Minsheng Bank, with a term of no more than 3 years [8] Group 4: Company Developments - Xiangyuan Cultural Tourism plans to upgrade the Danxia Mountain scenic area with a budget of approximately 26.8511 million yuan [7] - ST Kelly plans to sell a 36.9% stake in Jieno Medical and exit its investment in Jingzheng Medical [10] - Yifan Pharmaceutical's subsidiary's application for the registration of melatonin granules has been accepted by the National Medical Products Administration [12] - Aishide plans to acquire a 13.6365% stake in Gongqingcheng Aishide Innovation for approximately 1.0157 billion yuan [20] - Roman Co. intends to acquire a 39.23% stake in Wutong High-Tech, becoming its largest shareholder [22]

风险提示：股市有风险，投资需谨慎。 来源:金融界 从资金流向来看，英科医疗8月4日主力资金净流出1215.11万元，近五个交易日累计净流出3050.90万 元。盘中该股曾出现快速波动，分别在13点35分和13点54分出现超过2%的快速反弹和回调。 英科医疗8月4日收盘报38.80元，较前一交易日上涨1.52元。该股当日开盘价为36.60元，最高触及39.18 元，最低下探35.35元，全天振幅达10.27%。成交量为390511手，成交金额14.41亿元。 英科医疗主营业务涵盖医疗防护、康复护理、保健理疗等领域，主要产品包括一次性手套、轮椅等医疗 耗材。公司产品广泛应用于医疗机构、养老护理等场景。 ...

从指数持仓来看，上证科创板医疗指数十大权重分别为：惠泰医疗（9.47%）、联影医疗（9.08%）、 热景生物（8.33%）、爱博医疗（6.07%）、奕瑞科技（6.05%）、南微医学（5.62%）、心脉医疗 （4.81%）、圣湘生物（4.6%）、海尔生物（3.76%）、天智航（3.29%）。 金融界8月4日消息，上证指数低开高走，上证科创板医疗指数 (科创医疗，950255)报807.76点。 数据统计显示，上证科创板医疗指数近一个月上涨8.56%，近三个月上涨13.65%，年至今上涨11.39%。 据了解，上证科创板医疗指数从科创板中选取不超过30家医疗领域的上市公司证券作为指数样本，以反 映科创板中医疗上市公司证券的整体表现。该指数以2022年12月30日为基日，以1000.0点为基点。 来源：金融界 从上证科创板医疗指数持仓的市场板块来看，上海证券交易所占比100.00%。 从上证科创板医疗指数持仓样本的行业来看，医疗耗材占比42.88%、医疗设备占比28.80%、体外诊断 占比28.32%。 资料显示，指数样本每季度调整一次，样本调整实施时间分别为每年3月、6月、9月和12月的第二个星 期五的下一交易日 ...

Investment Rating - The industry investment rating is "Overweight" (maintained) [4] Core Views - The medical consumables sector saw a 1.08% increase last week, with the overall medical sector performing well [6][14] - The current PE (ttm) for the medical consumables sector is 36.1X, with a PB (lf) of 2.62X, indicating a slight increase in valuation metrics [7][20][21] - The upcoming sixth batch of national procurement for high-value medical consumables is set to begin, with a focus on product information maintenance for drug-coated balloons and urological intervention consumables [8][23] Summary by Sections Industry Performance - The medical consumables sector reported a 1.08% increase, while the broader medical sector outperformed the CSI 300 index by 4.7 percentage points [6][14] - The sector's performance over the past 12 months shows a relative return of 3% compared to the CSI 300 [6] Valuation Metrics - The current PE for the medical consumables sector is 36.1X, up 0.4 percentage points from the previous week, with a one-year range of 28.42X to 41.66X [20] - The current PB is 2.62X, with a one-year range of 1.99X to 2.92X [21] Industry Dynamics and Announcements - A notification was issued regarding the centralized maintenance of product information for drug-coated balloons and urological intervention consumables, starting August 1, 2025 [8][23] - The sixth batch of national procurement is expected to include a wide range of products, with ongoing updates to procurement rules anticipated [8][25] Investment Recommendations - The report suggests closely monitoring the performance forecasts of individual stocks within the medical consumables sector, particularly those showing signs of performance recovery [9][26] - Two main investment themes are highlighted: recovery opportunities post-procurement pressure and increased penetration of innovative products [9][27] - Specific companies to watch include those in orthopedic consumables and leading high-value consumables firms with diverse product lines [9][27]

截至2025年8月1日15时，稳健医疗股价报40.11元，较前一交易日上涨0.27%。当日成交量为46216手， 成交金额达1.86亿元。 资金流向方面，8月1日主力资金净流入61.17万元，但近五日主力资金整体呈现净流出状态，累计净流 出1.05亿元。 风险提示：投资有风险，入市需谨慎。市场变化存在不确定性，投资者应结合自身风险承受能力做出决 策。 近期，稳健医疗宣布推出新型医用敷料产品，该产品采用创新材料技术，具有更好的透气性和舒适性。 公司表示，该产品将有助于提升在医疗耗材市场的竞争力。 稳健医疗是一家专注于医疗耗材研发、生产和销售的企业，产品涵盖医用敷料、手术室耗材等多个领 域。公司所属板块包括美容护理、跨境电商等。 ...

Group 1 - The Shanghai Stock Exchange Science and Technology Innovation Board Medical Index (科创医疗) reported a value of 805.42 points, with a monthly increase of 10.37%, a three-month increase of 13.32%, and a year-to-date increase of 11.07% [1] - The index consists of no more than 30 listed companies in the medical field selected from the Science and Technology Innovation Board, reflecting the overall performance of medical listed companies [1] - The index is based on a reference date of December 30, 2022, with a base value of 1000.0 points [1] Group 2 - The top ten weighted companies in the index are: 惠泰医疗 (9.77%), 联影医疗 (9.36%), 热景生物 (7.33%), 爱博医疗 (6.23%), 奕瑞科技 (6.09%), 南微医学 (5.69%), 心脉医疗 (4.91%), 圣湘生物 (4.6%), 海尔生物 (3.79%), and 天智航 (3.3%) [1] - The index is fully composed of companies listed on the Shanghai Stock Exchange, with the following industry breakdown: medical consumables (43.55%), medical devices (29.18%), and in vitro diagnostics (27.26%) [2] - The index samples are adjusted quarterly, with adjustments implemented on the next trading day following the second Friday of March, June, September, and December [2]

Investment Rating - The report assigns an "Overweight" rating to the pharmaceutical and biotechnology industry, indicating that the industry index is expected to outperform the CSI 300 index by 10% or more over the next six months [2][40]. Core Insights - The pharmaceutical and biotechnology sector saw an overall increase of 1.90% from July 21 to July 25, 2025, ranking 19th among 31 industries in the Shenwan index, outperforming the CSI 300 index by 0.21 percentage points [4][12]. - The current PE valuation of the pharmaceutical and biotechnology sector is 30.67 times, which is at the historical median level, with a valuation premium of 140% compared to the CSI 300 index [4][18]. - The top three performing sub-sectors during the same period were medical services (6.73%), medical devices (4.43%), and pharmaceutical commerce (1.84%) [4][12]. Market Performance - In the year-to-date, the pharmaceutical and biotechnology sector has increased by 18.81%, ranking 3rd among 31 industries, and outperforming the CSI 300 index by 13.92 percentage points [4][13]. - The sub-sectors that achieved significant gains include chemical pharmaceuticals (34.25%), medical services (32.34%), and biological products (13.49%) [4][19]. Industry News - The National Healthcare Security Administration (NHSA) held two meetings to support the high-quality development of innovative drugs and medical devices, emphasizing the need for comprehensive value assessments for innovative products [5][34]. - The NHSA introduced new measures to empower innovation in drug and device pricing, aiming to support genuine innovation and improve the quality of healthcare in China [5][36]. Investment Recommendations - The report suggests focusing on high-quality stocks in the following segments: innovative drugs, CXO (Contract Research Organization), chain pharmacies, medical services, and second-class vaccines [5][37][38]. - Recommended stocks include Betta Pharmaceuticals, Teva Biopharmaceuticals, Kaili Medical, Haier Biomedical, Huaxia Eye Hospital, and Lao Bai Xing [5][38]. Stock Performance - During the last week, 337 stocks in the sector increased in value (71.10%), while 127 stocks decreased (26.79%). The top five gainers were Haitai Biological (46.93%), Zhendong Pharmaceutical (42.89%), Saili Medical (31.73%), Chenxin Pharmaceutical (30.75%), and Rendu Biological (27.82%) [4][27].