董秘最新回复 截至2025年7月8日收盘，美好医疗(301363)报收于18.17元，下跌0.27%，换手率5.0%，成交量7.81万 手，成交额1.41亿元。 投资者： 董秘您好，1、在2024年年报的行业发展趋势里提到产业技术加快，运用生物、微纳米、信 息、计算机、微加工等高新技术，发展用于微创或无创诊疗的技术和器件，表面改性和组织诱导性生物 医用材料及组织和器官修复器械，以及用于医院及远程诊疗的信息系统。请问贵司产品使用了当下哪些 新技术？2、医疗器械产品向智能化方向转变。请问贵司产品如何体现智能化的应用，比如是否使用机 器人、传感器等提高效率？ 董秘： 尊敬的投资者，您好！公司已预约于2025年8月19日披露2025年半年度报告。感谢您对公司的关 注！ 当日关注点 交易信息汇总：7月8日主力资金净流出706.11万元，而散户资金净流入591.99万元。 交易信息汇总 董秘： 尊敬的投资者，您好！技术应用方面。公司构建了基于通用技术模块化复用与专用技术纵深攻 关的开放式研发创新平台。一方面，基于长期服务全球医疗器械头部客户积累的技术基础，公司研发团 队将医疗器械组件及产品的开发技术、塑胶和液态硅胶精密模 ...

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]

丨证券研究报告丨 公司研究丨点评报告丨美好医疗（301363.SZ） [Table_Title] 业绩符合预期，血糖板块进入兑现阶段 报告要点 [Table_Summary] 2024 年业绩符合预期，传统业务稳健增长。2024 年公司营业收入为 15.94 亿元，其中家用呼 吸机组件收入 10.89 亿元，同比增长 25.58%，主要是由于客户去库存后恢复正常增长。人工 植入耳蜗组件收入 1.35 亿元，同比增长 18.74%，增速维持稳健主要是下游客户增速稳健。第 二增长曲线逐步量产兑现：2024 年公司其他医疗产品组件收入 1.03 亿元。同比增长 21.08%。 在血糖板块，公司的胰岛素注射笔项目已实现规模化量产，自主设计开发的"美好笔"核心研 发工作已基本完成，为客户定制的 CGM 组件产品进入交付准备期。 分析师及联系人 [Table_Author] 彭英骐 徐晓欣 SAC：S0490524030005 SAC：S0490522120001 SFC：BUZ392 请阅读最后评级说明和重要声明 %% %% %% %% research.95579.com 2025-05-06 美好医疗（301363 ...

Core Insights - Meihao Medical achieved operating revenue of 1.594 billion yuan in 2024, representing a year-on-year growth of 19.19%, and a net profit of 364 million yuan, up 16.11% year-on-year [1] - The company plans to distribute 1 yuan per 10 shares to all shareholders and to increase capital by converting 4 shares for every 10 shares held [1] Company Performance - Meihao Medical is a leading player in the global home respiratory machine and cochlear implant CDMO market [1] - Revenue from home respiratory machine components grew by 25.58% year-on-year, while revenue from cochlear implant components increased by 18.74% [1] - Revenue from other medical product components rose by 21.08% year-on-year [1] Business Diversification - In 2024, the company expanded its business into blood glucose management, cardiovascular, and in vitro diagnostics [1] - The insulin injection pen project has entered large-scale production, with core R&D for the "Meihao Pen" nearly completed, and CGM component products are in the delivery preparation phase [1] - Multiple cross-departmental teams have been established in the cardiovascular field, achieving breakthroughs in various product technology directions [1] - The company has accumulated several R&D achievements in the in vitro diagnostics field, with multiple client products undergoing small batch delivery verification [1] R&D Investment - R&D expenses reached approximately 141 million yuan, an increase of 16.75% year-on-year, accounting for 8.82% of operating revenue [1] Market Outlook - The global medical device industry is experiencing steady growth, with a market size of approximately 640.5 billion USD in 2024, expected to grow at a compound annual growth rate of 6% post-2025, reaching 1,147 billion USD by 2034 [1] Future Goals - Meihao Medical aims to become a leading global medical technology CDMO service provider, focusing on medical technology innovation and creating a customer-centric global organization to provide one-stop services for leading companies in niche medical device markets [1]