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活力中国调研行|医疗界“智造标杆”!看江苏的医疗设备何以“卖全球”
Nan Jing Ri Bao· 2025-10-21 06:54
转自:新华日报·交汇点 在家用医疗器械行业迈向数智化与国际化的浪潮中,企业的发展和转型路径成为重要观察样本。10月20 日,记者跟随"活力中国调研行"团队走进江苏鱼跃医疗设备股份有限公司(以下简称"鱼跃医疗"),以 这家研发投入强度达8%左右的行业代表性企业为窗口,探寻江苏的家用医疗设备企业在技术创新、智 能制造与拓展全球布局中的生动实践。 为了提升智能制造水平,鱼跃医疗以"数据驱动"为核心,持续推动产线智能化,搭建面向多品种、小批 量医疗柔性制造智能排产与生产及物流优化智能调度管理系统,实现车间设备、生产、人员、质量、物 料、环境等方面全流程可视化、信息化、智能化管理;搭建产销协同运营体系,提高协作效率;搭建产 品物联网大数据平台,提升管理效率;部署产品一物一码方案,实现产品从原料到终端的全流程精准管 理。 "通过智转、数改、网联的持续投入,推动公司成为了国内规模最大、制造工艺领先、效率领先、数字 化领先的医疗器械企业之一。"江苏鱼跃医疗设备股份有限公司副总经理郑洪喆告诉记者,"2021年,鱼 跃智能制造工厂被认定为全国'智能制造试点示范工厂',是医疗器械领域为数不多的国家级智能制造试 点企业。" 如今,鱼 ...
可孚医疗股价涨5.23%,天弘基金旗下1只基金重仓,持有17.24万股浮盈赚取36.03万元
Xin Lang Cai Jing· 2025-10-15 02:58
天弘臻选健康混合A(014708)基金经理为刘盟盟。 截至发稿,刘盟盟累计任职时间7年273天,现任基金资产总规模12.67亿元,任职期间最佳基金回报 57.37%, 任职期间最差基金回报-7.95%。 风险提示:市场有风险,投资需谨慎。本文为AI大模型自动发布,任何在本文出现的信息(包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等)均只作为参考,不构成个人投资建 议。 责任编辑:小浪快报 从基金十大重仓股角度 数据显示,天弘基金旗下1只基金重仓可孚医疗。天弘臻选健康混合A(014708)二季度减持4.19万股, 持有股数17.24万股,占基金净值比例为6.91%,位居第五大重仓股。根据测算,今日浮盈赚取约36.03 万元。 天弘臻选健康混合A(014708)成立日期2022年3月17日,最新规模6694.14万。今年以来收益33.2%, 同类排名2108/8161;近一年收益23.59%,同类排名3302/8015;成立以来收益24.33%。 10月15日,可孚医疗涨5.23%,截至发稿,报42.05元/股,成交1.14亿元,换手率1.41%,总市值87.84亿 元。 资料显示,可孚医疗科 ...
功效争议不断却年卖5亿,“背背佳”母公司可孚医疗赴港上市寻输血
Sou Hu Cai Jing· 2025-10-14 11:36
近日,可孚医疗向港交所递交主板上市申请,正式启动"A+H"双重上市进程。 这家以"背背佳"闻名的企业,在2025年上半年业绩双降的背景下,仍向大股东高额分红,同时寻求港股 上市。 作为国内家用医疗器械行业的领军企业,可孚医疗面临着主力产品增长乏力、营销投入高企、研发投入 缩减、海外市场尚未形成有效支撑等多重挑战。 2022年4月,可孚医疗以1.77亿元收购背背佳运营主体橡果贸易,并重新战略定位其为"体态管理专 家"。随后公司加大推广力度,布局抖音赛道、赞助综艺《快乐再出发》,2024年还官宣白鹿为品牌代 言人等。 背背佳也不负众望,为可孚带来可观业绩回报。2024年,包含背背佳在内的矫姿带产品收入5亿元,市 场份额达到27.2%,成为公司康复辅具板块的重要收入来源。 营利双降与高分红并存 招股书披露,可孚医疗是中国最大的家用医疗器械企业之一。专业从事家用医疗器械的研发、生产、销 售和服务,可孚医疗覆盖健康监测、康复辅具、呼吸支持、医疗护理及中医理疗五大领域。2021年10 月,可孚医疗以93.09元发行价登陆创业板,募资37.24亿元。但上市首日即破发,开盘跌超10%,收盘 市值为142.35亿元。截至记者发 ...
可孚医疗10月9日获融资买入777.80万元,融资余额1.14亿元
Xin Lang Cai Jing· 2025-10-10 01:33
分红方面,可孚医疗A股上市后累计派现12.35亿元。近三年,累计派现9.78亿元。 机构持仓方面,截止2025年6月30日,可孚医疗十大流通股东中,国泰医药健康股票A(009805)位居 第九大流通股东,持股230.12万股,相比上期增加23.66万股。香港中央结算有限公司退出十大流通股东 之列。 责任编辑:小浪快报 融资方面,可孚医疗当日融资买入777.80万元。当前融资余额1.14亿元,占流通市值的1.42%,融资余 额超过近一年70%分位水平,处于较高位。 融券方面,可孚医疗10月9日融券偿还3900.00股,融券卖出1200.00股,按当日收盘价计算,卖出金额 4.62万元;融券余量2.10万股,融券余额80.64万元,超过近一年80%分位水平,处于高位。 资料显示,可孚医疗科技股份有限公司位于湖南省长沙市雨花区振华路816号,香港新界葵涌工业街23- 31号美联工业大厦22楼B单元,成立日期2009年11月19日,上市日期2021年10月25日,公司主营业务涉 及从事家用医疗器械的研发、生产、销售和服务。主营业务收入构成为:康复辅具类产品43.12%,医 疗护理类产品32.45%,健康监测类产品20 ...
鱼跃医疗九月全球布局提速:亮相9场海外展 成立印尼分公司
Jiang Nan Shi Bao· 2025-09-30 12:03
Core Viewpoint - Yuyue Medical is accelerating its globalization strategy, with significant actions taken in September 2023, including the establishment of a subsidiary in Indonesia and participation in major medical exhibitions across nine countries, highlighting its commitment to expanding its international presence [1][2]. Group 1: Financial Performance - In the first half of 2023, Yuyue Medical reported a revenue of 4.659 billion yuan, representing a year-on-year growth of 8.16%, with overseas business revenue reaching 607 million yuan, up 26.63%, accounting for 13.03% of total revenue [1]. Group 2: Market Expansion - The establishment of the Indonesian subsidiary marks a strategic move following success in the Thai market, targeting the Southeast Asian region where approximately 90% of medical devices are imported, and the market is projected to grow at a compound annual growth rate of 10.8% from 2021 to 2026 [2]. - Yuyue Medical aims to strengthen collaboration with medical institutions, build distribution networks, and enhance after-sales service in Indonesia, leveraging its experience from the Thai market [2]. Group 3: Product Innovation and Strategy - The company is focusing on three core directions: globalization, digitalization, and wearability, with over 30 innovative products launched, including IoT-enabled devices and AI health management solutions [2]. - Yuyue Medical plans to establish branches in Europe, South America, and the Middle East, and is set to create its first shared service center in the Netherlands to improve global operational efficiency [3]. Group 4: Industry Outlook - The global medical device market is expected to reach $899.2 billion by 2030, while the home healthcare device market is projected to exceed $80.37 billion by 2033, indicating significant growth opportunities for Yuyue Medical [3].
鱼跃医疗20250926
2025-09-28 14:57
Summary of Yuyue Medical Conference Call Company Overview - **Company**: Yuyue Medical - **Industry**: Home Medical Devices Key Points Business Strategy and Growth Areas - Yuyue Medical focuses on core businesses like wheelchairs and oxygen concentrators for stable income while targeting high-growth areas such as respiratory therapy (sleep apnea machines) and blood glucose management (CGM) [2][3] - The company aims to expand into emergency medical equipment (AED) and has a dual strategy of maintaining existing business while exploring new opportunities [2][3] Financial Performance - From 2018 to 2024, Yuyue Medical has maintained double-digit compound growth [2][8] - In the first half of 2025, revenue reached 4.659 billion yuan, a year-on-year increase of 8.2% [2][8] - The gross margin remains around 50%, with the blood glucose management segment showing the highest margin [2][8] Market Position and Potential - Yuyue Medical holds a 35% market share in the domestic oxygen concentrator market, which is valued at approximately 5 billion yuan and expected to grow at a compound annual growth rate of around 10% [2][10] - The penetration rate of home respiratory machines in China is significantly lower than international levels, indicating substantial growth potential [2][11] Product Development and Innovation - The respiratory therapy segment includes products like oxygen concentrators and sleep apnea machines, with a significant market potential due to the large number of patients suffering from OSA and COPD [9][10] - The blood glucose management segment has seen rapid growth, with online sales during the 618 shopping festival increasing by over 160% [2][13] International Expansion - Yuyue Medical has been actively expanding its overseas market, with a 26.6% increase in overseas revenue in the first half of 2025 [4][16] - The company plans to establish overseas factories and collaborate with leading international companies to enhance its global footprint [4][16] Technological Advancements - The company is investing in AI and smart wearable devices, planning to launch products that monitor sleep and women's health indicators [4][18] - The upgrade of the online health management platform to "Yuyue AI Agent" is expected to enhance patient engagement and product penetration [4][18] Management and Governance - The actual controller of Yuyue Medical, Wu Guangming, and the current chairman, Wu Qun, are father and son, indicating a family-run structure [6] Future Outlook - The company is optimistic about achieving double-digit revenue growth for the year, driven by the full sales cycle of new products [19] - Yuyue Medical's valuation is considered low compared to peers, with a projected PE ratio of 18-19 times for 2025, suggesting over 30% growth potential in market value [19] Other Business Segments - Yuyue Medical also operates in clinical instruments, rehabilitation devices, and emergency equipment, with the latter showing significant growth potential [14][15] Conclusion - Yuyue Medical is well-positioned in the home medical device industry, with a strong focus on growth areas, innovative product development, and international expansion, while maintaining a solid financial performance and market leadership in key segments [2][19]
背背佳不是“万能药”!可孚医疗上半年业绩双降,2024年分红金额超净利润
Sou Hu Cai Jing· 2025-09-22 11:17
Core Viewpoint - The article discusses the challenges and opportunities faced by Kefu Medical, particularly in relation to its acquisition of the brand "Beibeijia" and its upcoming plans for a Hong Kong IPO amid declining revenues and profits [2][3][4]. Group 1: Company Overview - Kefu Medical acquired the brand "Beibeijia" in 2022 for 177 million yuan, reviving a once-popular posture correction product that had faced significant challenges in the past [2][4]. - The company has a diverse product portfolio, including home medical devices, rehabilitation aids, and health monitoring products, with "Beibeijia" being a notable part of its offerings [5][12]. - Kefu Medical ranks second among home medical device companies in China, with a market share of nearly 30% in the posture correction segment [5]. Group 2: Financial Performance - In the first half of 2025, Kefu Medical reported revenues of approximately 1.5 billion yuan, a decline of 4% year-on-year, and a net profit of about 170 million yuan, down 9.5% [3][9]. - The company's revenue growth has been hindered by a significant reliance on a few major clients, with the top five clients contributing 36.7% of revenue in the first half of 2025 [9][10]. - The overall revenue has increased from about 2.4 billion yuan in 2020 to an estimated 3 billion yuan in 2024, but net profit has decreased from 424 million yuan in 2020 to an estimated 312 million yuan in 2024 [7][9]. Group 3: Market Challenges - "Beibeijia" has faced criticism regarding its effectiveness, with many consumers expressing dissatisfaction on social media and complaint platforms, leading to a divided market perception [10][12]. - The product is classified as a consumer-grade item rather than a medical device, which has led to consumer confusion regarding its intended use and effectiveness [12][15]. - Kefu Medical's marketing efforts have included significant advertising expenditures, which increased by 51% in 2024, but these have not translated into sustained revenue growth [10][18]. Group 4: Strategic Moves - Kefu Medical is pursuing a Hong Kong IPO to address funding needs for overseas expansion and ongoing acquisitions, as its previous fundraising efforts from the A-share market have been largely exhausted [24]. - The company has engaged in multiple acquisitions to expand its product offerings and market presence, including recent purchases of medical product companies [18][20]. - The firm has maintained a consistent dividend policy, distributing a total of 1.235 billion yuan in dividends since its IPO, even as it faces financial pressures [22][23].
湖南夫妇卖背背佳:年入29.83亿,全国第一,港股上市
Sou Hu Cai Jing· 2025-09-22 10:57
Core Viewpoint - The company Kefu Medical, known for its home health products, is preparing for an IPO on the Hong Kong Stock Exchange, aiming for a dual listing in both A-share and H-share markets [2] Company Overview - Kefu Medical, headquartered in Hunan, specializes in home health products such as blood pressure monitors, blood glucose meters, hearing aids, wheelchairs, nebulizers, and COVID-19 testing kits [3][4] - As of September 22, 2023, Kefu Medical has a market capitalization of 8.241 billion RMB [5] Business Development - Founded by Zhang Min in 2007, Kefu Medical started as a small medical device retail store and has since evolved into a significant player in the home medical device market [6][8] - The company launched its first online flagship store on Tmall in 2014, expanding its sales channels and reaching consumers in remote areas [10] Product Line and Revenue - Kefu Medical offers over 200 products across five core treatment areas: rehabilitation aids, medical care, health monitoring, respiratory support, and traditional Chinese medicine therapy [11] - In 2024, the revenue from rehabilitation aids is projected to be 1.039 billion RMB, accounting for 34.8% of total revenue, with the "Beibeijia" posture corrector holding a nearly 30% market share in its category [12] Sales Channels - Online sales dominate Kefu Medical's revenue structure, contributing 1.981 billion RMB (66.4% of total revenue) in 2024, with significant performance on platforms like Tmall, JD, Douyin, and Xiaohongshu [14] - The company operates 738 self-owned stores, primarily "Jianer Hearing" service centers, covering over 135 cities [14] Market Presence - Kefu Medical ranks second in the Chinese home medical device market by sales revenue and first in the rehabilitation aids segment [16] - The "Beibeijia" brand leads in sales of posture correctors, while the "Jianer Hearing" brand ranks among the top three in the hearing aid industry [17][18] Financial Performance - Kefu Medical's revenue for 2022, 2023, and 2024 was 2.977 billion RMB, 2.854 billion RMB, and 2.983 billion RMB, respectively, with a gross profit margin improvement from 37.8% in 2022 to 50.6% in 2024 [19] Industry Trends - The aging population in China, with over 310 million people aged 60 and above by 2024, drives demand for home medical devices [20] - The increasing public health awareness and the growing chronic disease patient population further enhance the need for home health management solutions [22] Future Opportunities - The home medical device industry is undergoing significant transformation, with opportunities arising from smart technology integration, diversified consumer groups, multi-functional products, and the rise of domestic brands [23][24][28]
可孚医疗向港交所提交上市申请 华泰国际、BNP PARIBAS为联席保荐人
Core Viewpoint - Kefu Medical has submitted a listing application to the Hong Kong Stock Exchange, aiming to raise funds for expanding overseas sales channels, global investments and acquisitions, research and development innovations, and domestic market promotion [1] Group 1: Company Overview - Kefu Medical is a leading enterprise in China's home medical device industry, with over 200 product categories [1] - The company ranks second in sales in China for 2024 [1] - Kefu Medical is actively expanding its online channels, covering all major e-commerce platforms, and is projected to rank second in online sales in the industry for 2024 [1] Group 2: Business Operations - As of June 30, 2025, Kefu Medical operates 738 self-owned stores, with 689 being "Jianer Hearing" service centers, covering 135 cities nationwide [1] - The rehabilitation aids segment is the most significant growth area for revenue, particularly in correction, posture correction products, and hearing aids [1]
新股前瞻|登陆创业板三年后再闯关港股可孚医疗寻求国际化新跳板
Xin Lang Cai Jing· 2025-09-21 04:38
Core Viewpoint - Company Kefu Medical is seeking to list on the Hong Kong main board after less than four years on the ChiNext, indicating a strategic move beyond mere secondary financing [1] Group 1: Company Overview - Kefu Medical has been focused on the home medical device industry since its establishment in 2007, providing convenient solutions for consumers and patients seeking high-quality and advanced home medical devices [2] - The company's product portfolio includes over 20 categories, with a significant emphasis on online sales, achieving a total online sales revenue of 1.981 billion in 2024 [2] - Revenue figures for Kefu Medical from 2022 to 2025 (first six months) are as follows: 2.977 billion, 2.854 billion, 2.983 billion, and 1.496 billion respectively, with net profits of 302 million, 253 million, and 3.02 billion [2][4] Group 2: Product Performance - The rehabilitation aids segment has shown the most significant growth, with revenues of 526 million, 718 million, and 1.039 billion from 2022 to 2024, accounting for 17.7%, 25.2%, and 34.8% of total revenue respectively [4] - Kefu Medical operates 738 self-owned stores in China, with 689 being "Jianer Hearing" service centers, covering over 135 cities [4] Group 3: Market Dynamics - The global home medical device market is projected to have a combined share of approximately 63.3% from home rehabilitation aids, medical care products, health monitoring products, and respiratory support devices in 2024, expected to rise to 64.1% by 2030 [5] - In China, online sales through platforms like Taobao, JD.com, Douyin, and Xiaohongshu are expected to account for about 44.3% of total market sales in 2024, while offline channels contribute 55.7% [5] Group 4: Strategic Expansion - Kefu Medical is actively expanding into overseas markets through platforms like TikTok Shop, Temu, and Amazon, with overseas business revenue steadily increasing since 2022 [5] - The company aims to use the funds raised from the Hong Kong listing to promote overseas sales channels and establish a distribution network, as well as for potential strategic investments and acquisitions globally [5] - If the Hong Kong listing is successful, Kefu Medical will establish an "A+H" dual capital platform, enhancing its financial strength and brand influence [5]