Core Viewpoint - The stock of Lifesense Instruments has shown a positive trend, with a year-to-date increase of 27.68% and a market capitalization of 8.121 billion yuan as of November 27 [1]. Financial Performance - For the period from January to September 2025, Lifesense Instruments reported a revenue of 1.446 billion yuan, representing a year-on-year growth of 4.63%. The net profit attributable to shareholders was 257 million yuan, marking a significant increase of 49.29% compared to the previous year [2]. Shareholder Information - As of November 10, 2025, the number of shareholders for Lifesense Instruments was 23,500, a decrease of 3.61% from the previous period. The average number of tradable shares per person increased by 3.74% to 14,407 shares [2]. - The company has distributed a total of 1.128 billion yuan in dividends since its A-share listing, with 360 million yuan distributed over the past three years [3]. Stock Market Activity - On November 27, 2025, Lifesense Instruments experienced a stock price increase of 2.04%, reaching 14.01 yuan per share, with a trading volume of 75.793 million yuan and a turnover rate of 1.63% [1]. - The net inflow of main funds was 5.928 million yuan, with significant buying activity from large orders [1]. Business Overview - Lifesense Instruments, established on August 2, 1995, and listed on April 21, 2011, specializes in the research, production, sales, and service of medical electronic devices and in vitro diagnostic products. The main revenue sources include patient monitoring (29.38%), in vitro diagnostics (20.94%), ultrasound imaging (16.26%), maternal and child health (15.36%), and electrocardiogram diagnostics (15.25%) [1].

Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Insights - The company achieved a revenue of 914 million yuan in the first half of 2025, a slight decrease of 0.91% year-on-year, while the net profit attributable to shareholders was 154 million yuan, an increase of 23.47% [8] - The company maintains stable gross margins across its product lines, with patient monitoring gross margin at 55.77% and in-vitro diagnostics at 58.80% [8] - The company is expected to achieve net profits of 203 million yuan, 254 million yuan, and 304 million yuan for 2025, 2026, and 2027 respectively, corresponding to a PE ratio of 39, 31, and 26 times [8] Financial Performance Summary - Total revenue for 2023 is projected at 1,938 million yuan, with a year-on-year growth of 11.22% [1] - The net profit attributable to shareholders for 2023 is estimated at 221.30 million yuan, reflecting a year-on-year decrease of 5.00% [1] - The latest diluted EPS for 2023 is 0.38 yuan per share, with a projected PE ratio of 35.39 times [1] Revenue Breakdown - In the first half of 2025, revenue from patient monitoring was 269 million yuan (up 11.61%), while in-vitro diagnostics revenue was 191 million yuan (down 2.95%) [8] - The second quarter of 2025 saw a revenue of 493 million yuan, a quarter-on-quarter increase of 17.39%, with international market revenue reaching 303 million yuan, up 19.02% [8]