Core Insights - The company successfully launched its TAVR product, achieving revenue of 250 million yuan in H1 2025, a year-on-year increase of 30.1%, and a net profit attributable to shareholders of 70 million yuan, up 102.9% year-on-year, with a 64.7% increase after excluding share-based payment impacts [1] - The TAVR product has received broad market recognition and has been patented in Japan and registered in Indonesia, laying a solid foundation for international expansion [1] - The company maintains a high gross margin of 90.5% in Q2 2025, attributed to the new product launch, while actively promoting academic initiatives to enhance market presence [1] Financial Performance - In H1 2025, the company reported a gross margin of 90.5%, an increase of 1.2 percentage points year-on-year and 4.7 percentage points quarter-on-quarter [1] - The sales expense ratio, excluding share-based payment costs, remained stable at 24.0% in H1 2025 [1] Research and Development - The company invested 70 million yuan in R&D in H1 2025, accounting for 30.0% of revenue, with plans for 12 products to enter the registration review process by 2025, marking the highest number of products in review since its establishment [2] - Several products, including ophthalmic biological patches and ePTFE pericardium, have received feedback on their registration reviews, while others are in the clinical trial phase [2] Future Outlook - The company has adjusted its earnings per share forecasts for 2025-2027 to 1.43, 1.94, and 2.51 yuan respectively, with a target price of 119.45 yuan based on DCF valuation, maintaining a "buy" rating [2]

截至2025年5月23日收盘，佰仁医疗（688198）报收于106.79元，较上周的109.54元下跌2.51%。本周， 佰仁医疗5月20日盘中最高价报110.96元。5月23日盘中最低价报106.47元。佰仁医疗当前最新总市值 146.72亿元，在医疗器械板块市值排名14/126，在两市A股市值排名1036/5148。 本周关注点 公司公告汇总 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 公司公告汇总：佰仁医疗2024年年度权益分派实施，每股现金红利0.80元（含税） 公司公告汇总：佰仁医疗消化外科生物补片注册申请获得国家药品监督管理局受理 佰仁医疗关于自愿披露消化外科生物补片注册申请获得受理的公告，公司在研产品消化外科生物补片注 册申请获国家药品监督管理局正式受理，受理号为CQZ2500902。该产品是国内首个采用牛心包组织作 为原材料的软组织修复产品，有助于减少消化外科胃肠手术常见并发症，促进吻合口愈合。该产品临床 试验结果显示明显优效于对照组，但能否通过注册审批取得注册证具有一定的不确定性。 佰仁医疗2024年年度权益分 ...