一张护理垫背后的"隐形冠军" 公司长期深耕专业康复护理与医疗防护领域，核心产品为医用护理垫、手术铺单等一次性医用耗材，通 过ODM/OEM模式为国际知名医疗器械品牌商提供产品。公司通过ODM/OEM模式，与包括美国Medline 集团、波兰Zarys集团、韩国Sejong Healthcare在内的多家国际知名医疗器械品牌商建立了长期、稳固的 战略合作关系。 爱舍伦成功登陆北交所 1月21日，爱舍伦正式登陆北交所，开启了资本市场的崭新篇章。 爱舍伦成立于2015年，长期专注于医疗健康事业，主要从事应用在专业的康复护理与医疗防护领域的一 次性医用耗材的研发、生产和销售，通过ODM/OEM等方式为国际知名医疗器械品牌厂商提供相关产 品。长期以来，爱舍伦紧紧围绕医疗工作者和患者的专业需求，以康复护理、手术感控产品为核心，不 断向消毒清洁、家庭防护、急救防护等领域拓展，持续开发新产品，拓展产品线的深度和广度。 技术实力与质量体系是爱舍伦赢得国际市场的通行证。交流中披露，公司已取得包括ISO13485、欧盟 CE、美国FDA企业注册和产品列名在内的多项国际权威认证，这是产品进入欧美高端市场的硬性门 槛，也是其质量过硬的 ...

Investment Rating - The investment rating for the company is "Buy," indicating an expected relative increase of over 15% compared to the relevant market index within the next 6-12 months [37]. Core Insights - The company, Aisheren (920050.BJ), specializes in the research, production, and sales of disposable medical consumables in the rehabilitation and medical protection fields. It has established itself as a leading player in the domestic medical dressing industry and has significant competitive advantages in specific segments like medical care pads [2][30]. - The company reported revenues of CNY 574 million in 2022, with a slight growth forecast to CNY 691.6 million in 2024, representing a year-over-year growth of 20.36%. The net profit attributable to the parent company is expected to grow from CNY 63 million in 2022 to CNY 81 million in 2024, with a projected growth rate of 20.54% [8][4]. - The company has a strong partnership with Medline Group, which has been its largest customer since 2007, contributing over 70% of its revenue. This long-term relationship is expected to remain stable [30][31]. Financial Performance - The company achieved revenues of CNY 573.6 million, CNY 574.7 million, and CNY 691.6 million for the years 2022, 2023, and 2024, respectively, with year-over-year growth rates of 0.03%, 0.19%, and 20.36% [4][8]. - The net profit attributable to the parent company for the same years was CNY 62.8 million, CNY 67 million, and CNY 80.7 million, with year-over-year growth rates of -37.12%, 6.62%, and 20.54% [4][8]. Industry Overview - The medical dressing industry is a significant segment of the low-value medical consumables market, accounting for approximately 21%. The global market for medical dressings is projected to grow from USD 9 billion in 2011 to USD 23.5 billion by 2026, driven by increasing demand due to an aging population and rising healthcare expenditures [15][18]. - In China, the medical dressing market is expected to grow from CNY 7 billion in 2011 to CNY 33.3 billion by 2026, indicating a robust growth trajectory supported by improved healthcare infrastructure and rising health awareness among the population [20][18]. Competitive Positioning - Aisheren is positioned among the top ten domestic medical dressing companies and is the largest manufacturer of medical care pads in China. The company differentiates itself through a focus on product research and development, automation in production, and a global supply chain strategy [30][31]. - The company plans to expand its product line to include OTC products and medical collection bags, which are expected to enhance future revenue streams significantly [31][32]. Investment Projects - The company plans to invest CNY 30 million in the construction of a public health medical supplies industrial park, which aims to enhance production capacity and quality control [33][32].