产品矩阵持续优化，新品蓄势待发。1）现有产品：核心能量源设备如 Soprano、Harmony等持续迭代， 在脱毛、皮肤紧致等领域保持竞争力。2）注射新品进展：全球首款长效肽制剂神经调节剂 Daxxify 已 获 NMPA 批准，正组建销售团队备战中国上市；溶脂针完成 II 期临床，丝素蛋白复合凝胶等管线推进 中；3）联合治疗生态落地：推出 AI 驱动的个性化护肤系统 Universkin 及智能皮肤分析平台 Alma IQ， 前者在美国快速放量，后者重构咨询服务价值链。 机构：申万宏源研究 研究员：王立平/王盼 作为能量源医美器械头部企业，公司依托直销网络强化亚太优势，注射填充业务打开第二增长曲线。短 期北美拖累不改长期逻辑，达希斐上市及联合治疗生态放量有望驱动下半年业绩反弹。我们维持盈利预 测，预计公司 25-27 年归母净利润为0.38/0.46/0.54 亿美元，同比+52%/+21%/+16%，对应 PE 为 11/9/8 倍，维持"买入"评级。 公司发布 2025 年中报，业绩符合预期。1）整体情况：25H1 营收1.65 亿美元，同比降2.5%；归母净利 润0.06 亿美元，同比降41.3%；2 ...

Sisram Medical (01696) H1 2025 Earnings Call August 21, 2025 08:30 AM ET Speaker0And so good afternoon and good evening. Thank you everyone for joining us today. Welcome to Sisram Medical's first half twenty twenty five earnings call. This is Jinpeng He from Citi Securities, and joining me today is our chief analyst, Yifan Du. So now I would like to introduce our speakers on the call.So with us today on the line are mister Yi Liu, Sisram's chairman mister Liu Daiyan, Sisram's chief executive officer and mis ...

Sisram Medical 2025 Interim Earnings Presentation Stock Code: 1696.HK Disclaimer This presentation and the accompanying slides (the "Presentation") which have been prepared by Sisram Medical Ltd (the "Company") do not constitute any offer or invitation to purchase or subscribe for any securities, and shall not form the basis for or be relied on in connection with any contract or binding commitment whatsoever. This Presentation has been prepared by the Company based on information and data which the Company ...