Company Overview - Steady Medical is located in Longhua District, Shenzhen, Guangdong Province, and was established on August 24, 2000. The company went public on September 17, 2020. Its main business involves the research, production, and sales of cotton products [1] - The company's revenue composition includes: consumer products - wet and dry cotton towels 19.87%, medical consumables - surgical room consumables 18.15%, medical consumables - traditional wound care and dressing products 13.88%, consumer products - sanitary napkins 13.02%, consumer products - adult clothing 12.73%, consumer products - baby clothing and supplies 11.36%, consumer products - other fiber products 5.24%, consumer products - other non-woven products 4.88%, and others 0.87% [1] Financial Performance - As of June 30, 2025, Steady Medical achieved operating revenue of 5.296 billion yuan, representing a year-on-year growth of 31.31%. The net profit attributable to the parent company was 492 million yuan, with a year-on-year increase of 28.07% [2] - Since its A-share listing, the company has distributed a total of 2.875 billion yuan in dividends, with 1.729 billion yuan distributed in the past three years [3] Shareholder Structure - As of June 30, 2025, the number of shareholders of Steady Medical was 27,900, an increase of 30.38% compared to the previous period. The average number of circulating shares per person was 6,290, a decrease of 23.30% [2] - The top circulating shareholder is Huabao Zhongzheng Medical ETF, holding 7.4347 million shares as a new shareholder. The second-largest shareholder is E Fund Growth Enterprise Board ETF, holding 4.5371 million shares, a decrease of 113,400 shares compared to the previous period [3]

Group 1 - The core viewpoint of the articles highlights the financial performance and market position of the company, Steady Medical, within the medical supplies industry [1][2] - As of July 4, the closing price of Steady Medical was 40.2 yuan, with a decline of 2.43%, resulting in a rolling PE ratio of 30.74 times and a total market capitalization of 23.41 billion yuan [1] - The average PE ratio for the beauty and healthcare industry is 38.96 times, with a median of 43.11 times, placing Steady Medical at the 13th position in the industry ranking [1][2] Group 2 - For the first quarter of 2025, the company reported a revenue of 2.605 billion yuan, representing a year-on-year increase of 36.47%, and a net profit of 249 million yuan, also reflecting a year-on-year growth of 36.26% [2] - The sales gross margin for the company stood at 48.46% [2] - The company specializes in the research, production, and sales of cotton-based products, including high-end wound dressings and various healthcare products, and has consistently ranked among the top three exporters of medical dressings in China [1]

Company Overview - Company name is稳健医疗, which focuses on the research, production, and sales of cotton-based products [1] - Main products include high-end wound dressings, traditional wound care and bandaging products, surgical consumables, infection protection products, health personal care products, cotton towels, cotton sanitary napkins, cotton wet wipes, non-woven consumer products, baby products, and adult clothing [1] - The company has consistently ranked among the top three in China's medical dressing exports for several years [1] Financial Performance - For Q1 2025, the company reported revenue of 2.605 billion yuan, a year-on-year increase of 36.47% [2] - Net profit for the same period was 249 million yuan, also reflecting a year-on-year growth of 36.26% [2] - The sales gross margin stood at 48.46% [2] Market Position - The company's current rolling price-to-earnings (PE) ratio is 30.45, while the average PE ratio for the beauty and personal care industry is 39.12 [1][2] - The industry median PE ratio is 42.46, placing the company at 13th in the industry ranking [1] - The total market capitalization of the company is 23.188 billion yuan [1] Capital Flow - On June 26, the company experienced a net outflow of main funds amounting to 2.0955 million yuan, with a total outflow of 24.8019 million yuan over the past five days [1]

Company Overview - Company name is稳健医疗, which closed at 50.47 yuan on June 10, with a 2.25% increase, resulting in a rolling PE ratio of 38.59 times and a total market value of 29.39 billion yuan [1] - The main business of the company includes research, production, and sales of cotton-based products, with key products being high-end wound dressings, traditional wound care products, surgical consumables, infection protection products, and personal health products [1] Financial Performance - For Q1 2025, the company reported revenue of 2.605 billion yuan, a year-on-year increase of 36.47%, and a net profit of 249 million yuan, also up 36.26%, with a gross profit margin of 48.46% [2] - The company's PE ratio is 38.59 (TTM) and 42.26 (static), with a price-to-book ratio of 2.58 [2] Industry Comparison - The average PE ratio for the beauty and personal care industry is 44.04, with a median of 49.17, placing the company at 14th in the industry ranking [1][2] - The total market value of the industry averages 115.99 billion yuan, with the median at 74.78 billion yuan [2] Market Position - The company has consistently ranked among the top three exporters of medical dressings in China for several years [1] - The "winner" brand has entered over 2,000 hospitals and nearly 40,000 pharmacies in China, with a significant presence in major chains [1]

Group 1 - The core viewpoint of the news highlights the performance and market position of the company, Steady Medical, in the healthcare industry, particularly in the medical dressing sector [1][2]. - As of May 9, the company's stock closed at 51.45 yuan, reflecting a 3.31% increase, with a rolling price-to-earnings (PE) ratio of 39.34 times and a total market capitalization of 29.961 billion yuan [1]. - The average PE ratio for the beauty and healthcare industry is 41.70 times, with a median of 45.39 times, placing Steady Medical at the 14th position within the industry [1][3]. Group 2 - Steady Medical specializes in the research, production, and sales of cotton-based products across various sectors, including medical, personal care, and home care [2]. - The company's main products include high-end wound dressings, traditional wound care products, infection control products, and various cotton-based personal care items [2]. - According to recent performance data, for the first quarter of 2025, the company reported revenue of 2.605 billion yuan, a year-on-year increase of 36.47%, and a net profit of 249 million yuan, also up by 36.26%, with a gross profit margin of 48.46% [2].

Investment Rating - The report maintains an "Accumulate" rating for the company [1] Core Views - The company reported strong performance in Q1, with significant contributions from both the medical and consumer goods sectors [1][13] - The revenue for 2024 reached 8.98 billion yuan, a year-on-year increase of 9.7%, while the net profit attributable to shareholders was 700 million yuan, up 19.8% [5][6] - The company has adjusted its profit forecasts for 2025 and 2026, increasing the net profit estimates by 17% and 18% respectively [13] Financial Performance - In Q1 2025, the company achieved a revenue of 2.61 billion yuan, representing a year-on-year growth of 36.5%, and a net profit of 250 million yuan, up 36.3% [6] - The medical consumables segment saw a revenue increase of 1.1% in 2024, while the consumer goods segment grew by 17.1% [7][9] - The gross profit margin for 2024 decreased by 1.7 percentage points to 47.3%, with a notable decline in the medical consumables segment [11][19] Revenue Breakdown - The medical consumables accounted for 43.5% of total revenue in 2024, with a significant contribution from the acquisition of GRI [7] - The consumer goods segment represented 55.6% of total revenue in 2024, with strong growth in online and offline sales channels [9][10] Future Projections - The company forecasts revenues of 11.17 billion yuan in 2025, with a growth rate of 24.4%, and a net profit of 1.02 billion yuan, reflecting a growth rate of 46.6% [14] - The projected EPS for 2025 is 1.75 yuan, with a P/E ratio of 30 [14][19]