图片由AI生成 惠泰医疗日前发布的2025年半年报显示，公司上半年实现营业收入12.14亿元，同比增长21.26%。归母净利润4.25亿元，同比增长24.11%；扣非净 利润4.11亿元，同比增长25.33%，均高于营收增速；73.5%的毛利率则来到上市以来的最高水平。 此外，经营活动产生的现金流量净额同比增长29.45%，达到4.45亿元，表明迈瑞医疗入主后，惠泰医疗不仅业绩平稳增长，经营获现能力也在提 升。 在高值耗材集采常态化、终端采购预算趋紧的背景下，这份成绩单跑赢了行业平均水平。国家药监局数据显示，2024年中国医疗器械市场规模达 到1.11万亿元，同比增长12.3%，预计2025年将突破1.3万亿元，增速来到17%以上。 特殊之处在于，这份迈瑞控股后的首份完整半年报，一边宣告业绩与现金流双增，一边却出现创始人套现逾50亿的对照。而惠泰医疗年初锁定的 全年保底3000台PFA产品终端手术量，目前仅完成800台，剩余2200台下半年能否如期落地，关键取决于医保报销与集采政策的走向。 全年PFA手术量距保底目标还差2200例 惠泰医疗专注于心脏电生理和介入医疗器械的研发、生产和销售。公司上半年多个核心指 ...

来源：金融界 2025年8月22日，惠泰医疗主力资金净流入4010.52万元，占流通市值比为0.1%。近五日主力资金净流入 12099.95万元，占流通市值比为0.31%。 风险提示：投资有风险，入市需谨慎。本文所载信息仅供参考，不构成任何投资建议。 截至2025年8月22日15时，惠泰医疗股价为280.59元，较前一交易日下跌1.20%。当日开盘价为284.27 元，最高触及294.50元，最低下探272.23元，成交量为44978手，成交金额达12.70亿元。 惠泰医疗属于医疗器械行业，专注于心脏电生理和介入医疗器械的研发、生产和销售。公司主要产品包 括冠脉通路类产品和电生理类产品，其中冠脉通路类产品主要用于PCI手术，涵盖造影导管、导引导丝 等；电生理类产品包括三维心脏电生理标测系统等。公司已形成以完整冠脉通路和心脏电生理医疗器械 为主导，外周血管和非血管介入医疗器械为重点发展方向的业务布局。 惠泰医疗披露2025年半年报显示，公司上半年实现营业收入12.1亿元，同比增长21.3%；归母净利润 4.25亿元，同比增长24.11%。公司拟与关联方共同投资上海栗亮医疗科技有限公司，合计投资1500万 元。报 ...

Core Insights - After the acquisition by Mindray Medical, Huatai Medical maintains double-digit growth while its founder, who lost control, continues to cash out [1][3] Financial Performance - In the first half of 2025, Huatai Medical reported revenue of 1.21 billion yuan, a year-on-year increase of 21.3% - The net profit attributable to shareholders was 425 million yuan, up 24.11% year-on-year - Operating cash flow net amount reached 445 million yuan, reflecting a growth of 29.5% [1] Strategic Investments - Huatai Medical announced a strategic investment of 15 million yuan in Shanghai Liliang Medical Technology Co., focusing on varicose vein closure glue, which is in the leading tier for domestic clinical approval [1][6] Product Development and Market Position - The electrophysiology device market is gradually closing the gap with foreign brands, with Huatai's magnetic positioning pressure-sensing ablation catheter breaking the monopoly of imported products in atrial fibrillation treatment [2] - The company’s coronary access products and electrophysiology products generated revenues of 654 million yuan and 264 million yuan, accounting for 53.9% and 20.2% of total revenue, respectively [1] Market Expansion - Huatai Medical's overseas business saw significant growth, with overseas revenue reaching 143 million yuan, a year-on-year increase of 34.56% [4] - The penetration rate of vascular intervention products and the number of hospitals using coronary products increased by over 18% compared to the same period last year [4] Founder’s Cash-Out - The founder of Huatai Medical, Cheng Zhenghui, plans to reduce his holdings by up to 2% of the total share capital through block trading, amounting to a maximum of 800 million yuan based on the latest closing price [6][7] - Cheng has already cashed out approximately 5.1 billion yuan through previous share reductions [7]

Company Overview - Weisi Medical's closing price on July 1 was 47.9 yuan, reflecting a 3.03% increase, with a rolling PE ratio of 40.44, marking a 16-day low, and a total market capitalization of 4.587 billion yuan [1] - The company specializes in the research, production, and sales of medical devices, with key products including magnetic stimulation, electrical stimulation, electrophysiology, consumables and accessories, and laser radiofrequency [1] Financial Performance - In the first quarter of 2025, Weisi Medical reported revenue of 95.9127 million yuan, representing a year-on-year increase of 9.40%, and a net profit of 33.2201 million yuan, up 52.71%, with a gross profit margin of 66.65% [1] Shareholder Information - As of March 31, 2025, Weisi Medical had 5,933 shareholders, an increase of 637 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares per shareholder [1] Industry Comparison - The average PE ratio for the medical device industry is 51.70, with a median of 37.36, placing Weisi Medical at the 81st position within the industry [1][2] - The static PE ratio for Weisi Medical is 44.99, and the price-to-book ratio is 2.76 [2]