截至2025年10月31日收盘，普门科技（688389）报收于13.81元，较上周的13.83元下跌0.14%。本周， 普门科技10月27日盘中最高价报13.97元。10月29日盘中最低价报13.53元。普门科技当前最新总市值 59.17亿元，在医疗器械板块市值排名61/126，在两市A股市值排名2914/5163。 本周关注点 股本股东变化 截至2025年9月30日，普门科技股东户数为1.19万户，较6月30日减少500户，减幅4.05%。户均持股数量 由上期的3.47万股增至3.61万股，户均持股市值为49.93万元。 业绩披露要点 普门科技2025年三季报显示，主营收入7.63亿元，同比下降10.96%；归母净利润1.63亿元，同比下降 36.66%；扣非净利润1.53亿元，同比下降37.18%。2025年第三季度单季营收2.56亿元，同比下降 4.06%；单季度归母净利润4146.48万元，同比下降51.52%；单季度扣非净利润4188.45万元，同比下降 47.7%。负债率20.77%，财务费用-2200.29万元，毛利率63.29%。 机构调研要点 2025年前三季度研发费用1.70亿元，占营收比 ...

Core Viewpoint - The company, Pumen Technology, reported a decline in revenue and net profit for the first three quarters of 2025, with a focus on improving its product offerings and market competitiveness in the IVD and treatment sectors [2][12]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 763 million yuan, a year-on-year decrease of 10.96% - The net profit attributable to the parent company was 163 million yuan, down 36.66% year-on-year - The net profit after deducting non-recurring gains and losses was 153 million yuan, a decline of 37.18% year-on-year - In Q3 2025, the company reported revenue of 256 million yuan, a decrease of 4.06% year-on-year, and a net profit of 41.46 million yuan, down 51.52% year-on-year [2][12]. R&D and Product Development - The company invested 170 million yuan in R&D for the first three quarters, accounting for 22.23% of revenue, with a year-on-year increase of 9.20% in R&D expenses [2][8]. - The company has established two business units focusing on IVD and treatment & rehabilitation, with ongoing efforts in new product development and upgrades to existing products [8][9]. Market and Product Strategy - The domestic IVD business faced challenges due to industry policies, but the company is seeing growth in its glycated hemoglobin testing products, particularly the H100Plus model, which has been installed in several top-tier hospitals [3][4]. - The company has successfully installed its eCL9000 series and LifoLas systems in multiple hospitals, establishing a comprehensive product matrix to meet various medical institution needs [4]. - International business revenue reached 294 million yuan, accounting for 39% of total revenue, with a year-on-year growth of 16.41% [6]. Future Outlook - The company plans to continue its R&D investments and product international registrations, aiming to enhance product competitiveness and market presence [9]. - Measures to improve gross margins include technological innovation, self-research of key raw materials, and cost control strategies [10].