2025年是开立医疗新品推出大年，上半年有多款高端新品获批并上市，多产品线优势逐渐显现。报告期 内，公司近年新布局的微创外科业务动能加速释放，与公司原本优势的消化与呼吸内镜产品共同构成第 二增长曲线，带来积极的业绩增量。同时，公司持续深化"医疗设备+AI"战略，通过AI技术紧密结合临 床，打造更符合临床需求的产品，进一步增强多产品线的市场竞争力。 在超声领域，公司C-Field+天工智能平台系列产品持续放量，超高端智能超声S80/P80系列和高端便携 超声X11/E11系列以先进的智能化功能为临床提供更优的使用体验，极大丰富了公司的临床解决方案覆 盖。在消化与呼吸内镜领域，公司的全新4KiEndo智慧内镜平台已取得NMPA注册证书，已经在2025年 正式发布上市，为公司贡献高端产品新增量。在微创外科领域，开立医疗"凌珠"4K3D荧光三合一腔镜 影像平台在2025年2月正式获证。 在海外，开立医疗继续加快本地化布局的步伐，公司以深度融入区域市场为战略核心，搭建了覆盖全球 的本地化运营团队和决策体系，更通过定制化售后服务、技术培训等本地化服务体系，在提升客户黏性 的同时，构筑了深厚的品牌认知与信任基础，进一步巩固 ...

Core Viewpoint - The company, Shenzhen Kaili Biomedical Technology Co., Ltd. (Kaili Medical), reported a significant improvement in its financial performance for the first half of 2025, with a revenue of 964 million yuan and a net profit of 47.03 million yuan, indicating a recovery in the domestic medical equipment industry and the effectiveness of its strategic initiatives [1][3]. Group 1: Financial Performance - In the second quarter of 2025, the company achieved a net profit of 38.96 million yuan, representing a quarter-on-quarter increase of 382.45%, showcasing a consistent improvement in profitability [1]. - The company's revenue for the first half of 2025 was 964 million yuan, with a net profit of 47.03 million yuan, reflecting a positive trend in financial performance [1]. Group 2: Market and Strategic Developments - The domestic medical equipment industry is experiencing a revival in terminal bidding, with Kaili Medical's ultrasound and endoscope products seeing rapid growth in successful bids compared to the previous year [1][3]. - The company has established a solid foundation for growth through strategic investments, ensuring long-term product and team competitiveness [1]. - The company is expected to gradually emerge from a low performance period and accelerate its return to growth, supported by an increase in domestic market bidding scale and positive progress in international localization efforts [1][2]. Group 3: Research and Development - In the first half of 2025, the company invested 244 million yuan in research and development, accounting for 25.31% of its revenue, maintaining a steady pace of R&D investment [2]. - The company is focusing on product diversification and technological innovation, aiming to enhance the competitiveness of high-end new products and existing offerings in various fields, including ultrasound, endoscopy, minimally invasive surgery, and cardiovascular intervention [2][3]. Group 4: Global Expansion - Kaili Medical is accelerating its localization efforts overseas, establishing a global localized operation team and decision-making system, which enhances customer loyalty and builds a strong brand recognition [2]. - The company is enhancing its global brand influence through customized after-sales services and technical training, further solidifying its strategic advantages in global expansion [2].