最新一期业绩显示，2025年一季报，公司实现营业收入2.96亿元，同比5.05%；净利润5187.50万元，同 比-10.62%，销售毛利率39.28%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)13美好医疗29.8929.383.04106.89亿行业平均 53.5248.844.67111.58亿行业中值37.1437.112.5651.72亿1九安医疗10.9411.060.86184.59亿2英科医疗 12.7713.771.14201.84亿3新华医疗15.2014.091.2497.43亿4奥美医疗15.9515.631.6457.63亿5山东药玻 15.9516.001.83150.91亿6振德医疗16.0515.131.0258.27亿7康德莱16.5816.591.3735.73亿8九强生物 17.0215.832.0984.31亿9奥泰生物17.6018.561.4256.13亿10维力医疗17.8218.532.0940.65亿11三鑫医疗 19.1519.163.1543.57亿12安图生物19.3418.462.48220.51亿 来源：金融界 7月23日，美好医疗今日 ...

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Meihao Medical, which closed at 18.72 yuan, up 3.83%, with a rolling PE ratio of 29.78, marking a new low in 28 days, and a total market capitalization of 10.649 billion yuan [1] - In comparison to the industry, Meihao Medical's PE ratio of 29.78 is significantly lower than the average PE ratio of 52.06 and the median of 37.22 within the medical device sector, ranking 66th among its peers [1][2] - As of June 30, 2025, Meihao Medical had 12,487 shareholders, an increase of 119 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares per shareholder [1] Group 2 - Meihao Medical specializes in the design, development, manufacturing, and sales of precision components and products for medical devices, including home ventilator components and cochlear implant components [1] - The latest quarterly report for Q1 2025 shows that the company achieved a revenue of 296 million yuan, a year-on-year increase of 5.05%, while net profit was 51.875 million yuan, reflecting a year-on-year decrease of 10.62%, with a gross profit margin of 39.28% [1]

Company Overview - Meihua Medical closed at 18.05 yuan, up 1.69%, with a rolling PE ratio of 28.71 times and a total market value of 10.268 billion yuan [1] - The company ranks 65th in the medical device industry, which has an average PE ratio of 51.05 times and a median of 36.62 times [1] - As of the first quarter of 2025, 30 institutions held shares in Meihua Medical, including 24 funds, 4 others, and 2 insurance companies, with a total holding of 42.1394 million shares valued at 1.23 billion yuan [1] Business Operations - Meihua Medical specializes in the design, development, manufacturing, and sales of precision components and products for medical devices [1] - The main products include home respiratory machine components, artificial cochlear components, other medical product components, precision molds, automation equipment, and home and consumer electronics components [1] - The company is recognized as a national high-tech enterprise and a national intellectual property advantage enterprise, as well as a champion in a specific manufacturing sector in Guangdong Province [1] Financial Performance - In the first quarter of 2025, Meihua Medical achieved an operating income of 296 million yuan, a year-on-year increase of 5.05% [1] - The net profit for the same period was 51.875 million yuan, reflecting a year-on-year decrease of 10.62% [1] - The sales gross margin stood at 39.28% [1]

Investment Rating - The investment rating for the company is "Buy" with a first-time coverage [1] Core Insights - The company has shown stable growth in its two core businesses, with a revenue of 1.594 billion yuan in 2024, representing a year-on-year increase of 19.19%. The net profit attributable to the parent company was 364 million yuan, up 16.11% year-on-year [4][5] - The company is diversifying its business into areas such as blood glucose management and cardiovascular health, indicating the emergence of second and third growth curves [5] - The company has made significant progress in its global industrial layout, with new production facilities in Daya Bay and Malaysia, enhancing its delivery capabilities for overseas business expansion [6] Financial Performance - In Q1 2025, the company achieved a revenue of 296 million yuan, a year-on-year growth of 5.05%, but the net profit decreased by 10.62% to 52 million yuan [4] - The company forecasts revenue growth from 1.942 billion yuan in 2025 to 2.859 billion yuan in 2027, with corresponding net profits expected to rise from 452 million yuan to 668 million yuan during the same period [7][9] - The projected PE ratios for 2025, 2026, and 2027 are 22.2, 18.3, and 15.0 respectively, indicating a favorable valuation trend [7][9]

Core Viewpoint - The company anticipates gradual improvement in performance in Q2 2025 and the second half of the year, following the end of inventory destocking by downstream customers in the home respiratory device component sector [3]. Group 1: Home Respiratory Devices and Cochlear Implants - The company's core business involves the development, manufacturing, and sales of home respiratory devices and cochlear implant components [3]. - In 2024, the company expects a return to normal growth rates for home respiratory device component orders, supported by the Malaysian base potentially avoiding tariff risks, which is expected to drive long-term revenue growth [3]. - Revenue from cochlear implant components is showing steady growth, and new product component revenues are rapidly increasing, indicating effective diversification in business segments [3]. - Due to the impact of the Spring Festival on Q1 2025, revenue growth has slowed compared to the full year of 2024, but performance is expected to improve gradually as order deliveries resume [3]. Group 2: Blood Glucose Management and Production Expansion - The company has made breakthroughs in core technologies such as precision molds and liquid silicone, focusing on products like disposable injection pens, continuous glucose monitoring (CGM) devices, and insulin patch pumps [4]. - Collaborations with global medical device leaders are ongoing in the fields of blood glucose management, IVD diagnostics, and cardiovascular devices [4]. - A fully automated production project for insulin injection pens developed for international clients has achieved large-scale production in 2024 [4]. - The company has completed the core R&D work for its self-designed "Beautiful Pen," which includes three major technology directions [4]. - The Malaysian production base has successfully completed the first two phases of capacity construction, with the third phase expected to be operational by the end of 2025 [4]. Group 3: Stock Incentive Plan - The company has announced a stock incentive plan for 2025, granting a total of 5 million shares to no more than 304 core employees, representing 1.23% of the total share capital [5]. - The performance assessment for the stock incentive plan is based on revenue or net profit for 2023, with target growth rates for 2025-2027 set at no less than 56.25%, 95.31%, and 144.14% respectively [5]. - The triggering growth rates for 2025-2027 are set at no less than 44.00%, 72.80%, and 107.36% respectively, reflecting the company's confidence in long-term growth [5].

Company Overview - Meihao Medical closed at 17.25 yuan on June 26, down 1.09%, with a rolling PE ratio of 27.44 times and a total market capitalization of 9.813 billion yuan [1] - The company operates in the medical device industry, which has an average PE ratio of 49.45 times and a median of 35.92 times, placing Meihao Medical at the 63rd position in the industry ranking [1] Shareholding Structure - As of the first quarter of 2025, 30 institutions held shares in Meihao Medical, including 24 funds, 4 others, and 2 insurance companies, with a total shareholding of 42.1394 million shares valued at 1.23 billion yuan [1] Business Operations - Meihao Medical specializes in the design, development, manufacturing, and sales of precision components and products for medical devices, including home ventilator components, cochlear implant components, and other medical product components [1] - The company is recognized as a national high-tech enterprise and a national intellectual property advantage enterprise, as well as a champion in a specific manufacturing sector in Guangdong Province [1] Financial Performance - In the first quarter of 2025, Meihao Medical reported revenue of 296 million yuan, a year-on-year increase of 5.05%, and a net profit of 51.875 million yuan, reflecting a year-on-year decrease of 10.62%, with a gross profit margin of 39.28% [1]

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Meihao Medical, which closed at 17.48 yuan with a PE ratio of 27.81 times, significantly lower than the industry average of 50.64 times [1][2] - Meihao Medical's total market capitalization is reported at 99.44 billion yuan, ranking 59th in the medical device industry based on PE ratio [1][2] - The company specializes in the design, development, manufacturing, and sales of precision components and products for medical devices, including home ventilator components and cochlear implant components [1] Group 2 - For the first quarter of 2025, Meihao Medical reported revenue of 296 million yuan, reflecting a year-on-year increase of 5.05%, while net profit decreased by 10.62% to 51.875 million yuan [1] - The gross profit margin for the company stands at 39.28% [1] - As of May 30, 2025, the number of shareholders for Meihao Medical increased to 11,265, with an average holding value of 352,800 yuan per shareholder [1]

最新一期业绩显示，2025年一季报，公司实现营业收入2.96亿元，同比5.05%；净利润5187.50万元，同 比-10.62%，销售毛利率39.28%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)59美好医疗26.6926.242.7195.46亿行业平均 50.9748.964.68108.42亿行业中值36.6736.602.4749.87亿1天益医疗-1782.30-3052.891.9022.71亿2澳华内 镜-692.58347.365.5572.99亿3诺唯赞-414.64-490.412.2788.73亿4爱朋医疗-382.20290.364.6031.36亿5博晖 创新-331.28525.693.5448.61亿6奥精医疗-149.94-219.761.9827.83亿7硕世生物-138.80-2028.201.2440.60亿 8睿昂基因-101.98-83.721.4513.20亿9康泰医学-86.93-73.453.1057.22亿10中红医疗-72.23-57.610.9150.19亿 11热景生物-59.61-68.684.40131.18亿 来源：金融界 截至202 ...

Group 1 - The core viewpoint of the articles indicates that Meihao Medical's stock closed at 24.15 yuan, down 1.43%, with a rolling PE ratio of 27.46 times and a total market value of 9.821 billion yuan [1] - In comparison to the medical device industry, which has an average PE ratio of 48.71 times and a median of 35.37 times, Meihao Medical ranks 62nd in terms of PE ratio [1][2] - The main business of Shenzhen Meihao Chuangyi Medical Technology Co., Ltd. includes the design, development, manufacturing, and sales of precision components and products for medical devices [1] Group 2 - For the first quarter of 2025, Meihao Medical reported an operating income of 296 million yuan, a year-on-year increase of 5.05%, and a net profit of 51.875 million yuan, a year-on-year decrease of 10.62%, with a gross profit margin of 39.28% [1] - The company is recognized as a national high-tech enterprise and a national intellectual property advantage enterprise, and it is a champion in a specific manufacturing sector in Guangdong Province [1]

Group 1 - The core viewpoint of the articles highlights the performance and valuation of Meihao Medical, which closed at 26.16 yuan with a PE ratio of 29.75 times, significantly lower than the industry average of 49.84 times [1][2] - Meihao Medical's total market capitalization is reported at 10.638 billion yuan, ranking 68th in the medical device industry based on PE ratio [1][2] - As of the first quarter of 2025, 30 institutions hold shares in Meihao Medical, with a total holding of 42.1394 million shares valued at 1.23 billion yuan [1] Group 2 - The main business of Shenzhen Meihao Chuangyi Medical Technology Co., Ltd. includes the design, development, manufacturing, and sales of precision components and products for medical devices [1] - Key products include home respiratory machine components, cochlear implant components, and other medical product components, positioning the company as a national high-tech enterprise [1] - The latest financial results for the first quarter of 2025 show revenue of 296 million yuan, a year-on-year increase of 5.05%, while net profit decreased by 10.62% to 51.875 million yuan, with a gross profit margin of 39.28% [1]