Core Viewpoint - Xiangsheng Medical (688358) has shown a positive stock performance with a 4.61% increase, reflecting strong market interest and ongoing innovation in the ultrasound medical device sector [1]. Group 1: Financial Performance - As of September 12, 2025, Xiangsheng Medical's stock closed at 31.12 yuan, up from 29.75 yuan the previous week, with a market capitalization of 3.483 billion yuan [1]. - The company reported a research and development investment of 37.6131 million yuan in the first half of 2025, which constitutes 15.93% of its revenue [3]. Group 2: Product Development and Innovation - The entire range of digital color ultrasound diagnostic products received certification under the EU Medical Devices Regulation (MDR) in July 2025, positioning the company among the few in China with a complete product line certified in one upgrade [1]. - The "Breast Artificial Intelligence Ultrasound Robot" has obtained a medical device testing report, integrating ultrasound, robotics, and AI for automated management of breast health screening and treatment [1]. - The SonoVet series of veterinary ultrasound products has been launched, addressing the needs of large animal reproduction and small animal abdominal and cardiovascular examinations, and has entered the global pet ultrasound market [2][3].

Core Viewpoint - The company, Xiangsheng Medical, has experienced a decline in revenue and net profit in the first half of 2025, while continuing to invest in research and development for innovative ultrasound technologies [1][4]. Financial Performance - For the first half of 2025, the company reported revenue of 236.15 million yuan, a year-on-year decrease of 4.61% - The net profit attributable to shareholders was 69.70 million yuan, down 14.32% year-on-year - The net profit after deducting non-recurring items was 63.83 million yuan, a decline of 14.10% year-on-year [1][4]. Research and Development - The company invested 37.61 million yuan in research and development, accounting for 15.93% of its revenue - The workforce includes 178 R&D personnel, representing 34.30% of the total staff - Ongoing projects include the development of "I+ cardiac ultrasound," "I+ obstetric ultrasound," "I+ animal ultrasound," and "I+ ultrasound scanning robots" [1][4]. Product Development - The company launched the "I+ Robot Scanning" series, integrating visual recognition, precise robotic control, and AI-assisted screening systems - The breast artificial intelligence ultrasound robot has received a medical device testing report, featuring a touchscreen, electric examination bed, six-degree-of-freedom robotic arm, automatic image transmission, and AI-assisted reading capabilities - A partnership with the Gates Foundation was established in July 2025 to jointly develop intelligent obstetric and breast ultrasound screening equipment [2]. Corporate Announcements - Xiangsheng Medical will participate in a collective performance briefing for the medical device industry on September 17, 2025, with key personnel attending [3]. - The company plans to hold its first extraordinary general meeting of 2025 to discuss the cancellation of the supervisory board and amendments to the Articles of Association, with voting conducted both on-site and online [3][4].

Core Viewpoint - Wuxi Xiangsheng Medical Technology Co., Ltd. is actively implementing a "Quality Improvement and Efficiency Enhancement" action plan to enhance investor returns and strengthen its core competitiveness through continuous innovation and talent development [1][2]. Group 1: Innovation and R&D - The company has maintained a research and development (R&D) personnel ratio of 34.3%, with 178 R&D staff, averaging over 10 years of experience, contributing to sustained innovation [1]. - As of the reporting period, the company holds 391 authorized patents, including 158 invention patents and 99 software copyrights, demonstrating its strong R&D capabilities [2]. - The company has accelerated its international product registration process, obtaining 43 new foreign market access licenses during the reporting period, thereby expanding its overseas market share [2]. Group 2: Commercialization and Market Presence - The company showcased its full range of products and AI-assisted diagnostic solutions at over 70 global industry events, enhancing brand exposure and clinical value [2]. - The "SonoGlobal 2025" agent conference and the "Evergreen Elite Project" were launched to upgrade core partners' capabilities from product sales to solution delivery, establishing a sustainable strategic cooperation system [2]. Group 3: Investor Communication and Disclosure - The company has established a comprehensive information disclosure management system to fulfill its obligations and has actively communicated with investors through various channels [3][4]. - Regular performance briefings and visual presentations of reports have been implemented to enhance investor understanding of the company's operations [4]. Group 4: Investor Returns - Since its listing in 2019, the company has maintained an average dividend payout ratio exceeding 65%, with a total dividend distribution of RMB 464 million [5]. - For the 2024 fiscal year, the company plans to distribute cash dividends of RMB 10 per 10 shares, totaling RMB 112 million, which represents 79.62% of the net profit attributable to shareholders [5]. Group 5: Corporate Governance - The company emphasizes the importance of a sound governance structure and effective internal control systems to enhance operational compliance and decision-making [6]. - The company has organized training for key personnel to ensure compliance with regulations and improve understanding of market dynamics [6].

Group 1 - The core viewpoint of the article highlights that Wuxi Xiangsheng Medical Technology Co., Ltd. has successfully obtained the EU Medical Devices Regulation (MDR) certification for its entire range of digital color ultrasound diagnostic products, marking a significant achievement in aligning with international safety and quality standards [1][2] - The MDR certification serves as a "hard currency" for entering the EU market and provides strong international credibility for the company's expansion into potential markets in Asia-Pacific, the Middle East, and Latin America [1] - Xiangsheng Medical has established a comprehensive technological capability in ultrasound imaging, covering various aspects from core components to clinical applications, thereby creating differentiated advantages in portability, specialization, and intelligence [1][2] Group 2 - The company's products are already utilized in over 30% of tertiary hospitals in China and have been exported to more than 100 countries and regions globally, establishing solid strategic partnerships with renowned international medical device companies [2] - In the field of ultrasound AI diagnostics, Xiangsheng Medical has developed an intelligent standard framework that encompasses device research and development, image acquisition, and diagnostic decision-making, with its breast ultrasound analysis software receiving medical device registration approval in 2022 [2] - The company aims to enhance its global market penetration with the MDR certification as a new starting point, focusing on providing smarter, more precise, and more accessible ultrasound diagnostic services worldwide, thereby strengthening the "China Intelligent Manufacturing" brand in the high-end medical device sector [2]