董秘： 尊敬的投资者，您好！感谢您的建议。公司高度重视市值表现与投资者关系管理，已建立专业 的团队负责信息披露、投资者沟通与资本市场研究。我们也将持续优化相关工作，提升市场对公司的认 知与信任。感谢您的关注与支持！ 投资者： "人争一口气,佛争一柱香"，那怕加速回购、极速增持也要将市值拉回合理范围内，维护公司 形象与尊严。公司业绩逐年增长且极度优秀的今天，公司股价仍然暴跌不止，目前只有区区240亿左右 的市值，不及很多绩差股、ST股的市值，在同行上市公司中市值垫底（同行振德市值将近300亿） 董秘： 尊敬的投资者，您好！二级市场股价受宏观经济、行业政策、市场情绪等多重因素影响。稳健 集团以"呵护健康、关爱生命、保护环境，让世界更美好"为愿景，旗下拥有"winner 稳健医 疗"和"Purcotton 全棉时代"两大主品牌。近年来，公司始终致力于提升经营业绩和股东价值，产品力和 品牌力逐步得到市场广泛认可，美誉度越来越高，随着核心竞争力的增强，公司未来前景越来越广阔！ 感谢您的关注与支持！ 截至2025年11月18日收盘，稳健医疗(300888)报收于41.31元，下跌0.86%，换手率0.67%，成交量3.9 ...

稳健医疗回复：尊敬的投资者，您好！二级市场股价受宏观经济、行业政策、市场情绪等多重因素影 响。稳健集团以"呵护健康、关爱生命、保护环境，让世界更美好"为愿景，旗下拥有"winner 稳健医 疗"和"Purcotton 全棉时代"两大主品牌。近年来，公司始终致力于提升经营业绩和股东价值，产品力和 品牌力逐步得到市场广泛认可，美誉度越来越高，随着核心竞争力的增强，公司未来前景越来越广阔！ 感谢您的关注与支持！ 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 投资者提问："人争一口气,佛争一柱香"，那怕加速回购、极速增持也要将市值拉回合理范围内，维护 公司形象与尊严。公司业绩逐年增长且极度优秀的今天，公司股价仍然暴跌不止，目前只有区区240亿 左右的市值，不及很多绩差股、ST股的市值，在同行上市公司中市值垫底（同行振德市值将近300亿） 证券之星消息，稳健医疗(300888)11月19日在投资者关系平台上答复投资者关心的问题。 ...

投资者提问：曾与奥美医疗、振德医疗并称为"国内三大医用敷料龙头"的稳健医疗，如今市值跌落万丈 深渊，市值持续锐减，稳健业绩在同行中是最优秀的、业绩增速是最强的，每股收益等于同行振德和奥 美的总和，但稳健的市值管理却是最差的，上市至今仍然破发，究竟什么原因？ 稳健医疗回复：尊敬的投资者，您好！二级市场股价受宏观经济、行业政策、市场情绪等多重因素影 响。稳健集团以"呵护健康、关爱生命、保护环境，让世界更美好"为愿景，旗下拥有"winner 稳健医 疗"和"Purcotton 全棉时代"两大主品牌。近年来，公司始终致力于提升经营业绩和股东价值，产品力和 品牌力逐步得到市场广泛认可，美誉度越来越高，随着核心竞争力的增强，公司未来前景越来越广阔！ 感谢您的关注与支持！ 证券之星消息，稳健医疗(300888)11月19日在投资者关系平台上答复投资者关心的问题。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Core Viewpoint - The company,稳健医疗, is currently experiencing stable production and operational conditions, with a focus on expanding its capacity based on order demand and exploring opportunities in the healthcare sector. Group 1: Company Performance - As of November 11, 2025, the stock price of 稳健医疗 closed at 42.95 yuan, down 0.81%, with a turnover rate of 1.01%, a trading volume of 59,000 shares, and a transaction amount of 253 million yuan [1]. - On November 11, the net outflow of main funds was 957.08 million yuan, while retail investors saw a net inflow of 1,168.17 million yuan [3]. Group 2: Strategic Direction - The company has a global production capacity spread across China, the United States, Vietnam, and the Dominican Republic, and is currently managing its production based on order levels [2]. - The company is exploring potential breakthroughs in the ophthalmology, dentistry, and orthopedics sectors, with some medical consumables already entering these fields [2]. - The company is committed to a "medical + consumer" dual-driven strategy, continuously tracking opportunities for technological upgrades and industry consolidation to enhance core competitiveness [2].

Core Viewpoint - The company Steady Medical (300888) is actively engaging with investors regarding strategic opportunities and product development aligned with health and sustainability goals [2]. Group 1: Stock Performance - As of November 3, 2025, Steady Medical's stock closed at 40.91 yuan, down 0.94%, with a turnover rate of 1.08%, a trading volume of 62,900 shares, and a transaction value of 258 million yuan [1]. Group 2: Investor Relations - The company is open to introducing strategic investors and will disclose any significant plans in accordance with legal requirements [2]. - The chairman has emphasized the goal of creating sustainable products that promote longevity, safety, and health, aligning with the company's vision of "caring for health, loving life, and protecting the environment" [2]. Group 3: Product Offerings - Steady Medical offers a range of products under its main brands "winner Steady Medical" and "Purcotton," covering various segments such as wound care, infection protection, surgical supplies, personal care, family care, maternal and infant care, and home textiles [2]. - The company has multiple models of varicose vein socks available for purchase through its official online platforms [2]. Group 4: Market Activity - On November 3, the net outflow of funds from major investors was 9.61 million yuan, while retail investors saw a net inflow of 17.91 million yuan [2].

Investment Rating - The report maintains a "Buy" rating for the company with a target price of RMB 60.06 [6][4]. Core Views - The company is positioned as a "healthcare enterprise driven by both consumption and medical sectors," with its brands "Winner" and "Purcotton" gaining influence. The consumption segment is expected to maintain growth momentum despite short-term fluctuations due to public sentiment events, while the medical segment is anticipated to recover due to both internal and external growth drivers [1][3]. - The company has shown strong performance in its core product categories, particularly during the 618 shopping festival, with significant sales growth in key items such as facial towels and baby products [2][3]. Summary by Sections Consumption Segment - In Q1 2025, the consumption segment achieved revenue of RMB 1.34 billion, representing a year-on-year increase of 28.8%. Although Q2 revenue growth is expected to slow due to industry sentiment issues, core categories continue to perform well. The company has implemented product innovation and precise marketing strategies, leading to significant sales in e-commerce platforms [2][3]. - The marketing strategy has focused on product safety and brand recognition, particularly in the sanitary napkin category, which is expected to see continued growth alongside innovations in adult underwear and cotton soft towels [3][4]. Medical Segment - The medical segment is benefiting from ongoing product innovation and channel expansion, with a focus on domestic hospital channels and consumer medical channels. The acquisition of GRI is expected to enhance export capabilities due to its global production capacity [3][4]. Financial Forecast and Valuation - The company is projected to achieve net profits of RMB 1.061 billion, RMB 1.301 billion, and RMB 1.589 billion for the years 2025, 2026, and 2027, respectively, with corresponding EPS of RMB 1.82, RMB 2.23, and RMB 2.73. The report maintains a target PE of 33 times for 2025, reflecting the dual growth drivers of consumption and medical sectors [4][10].

Group 1: Company Overview - Steady Medical Group, founded in 1991, has evolved into a health enterprise focusing on medical and consumer sectors, listed on the Shenzhen Stock Exchange in 2020 [13] - The company aims to "protect health, care for life, and protect the environment" with its main brands being "Winner Medical" and "Purcotton" [13] Group 2: Annual Performance Review - In 2024, the company achieved a total revenue of 89.8 billion CNY, a 9.7% increase from 2023's 81.9 billion CNY [18] - Excluding infection protection product revenue, the adjusted revenue was 86.2 billion CNY, reflecting an 18.6% year-on-year growth [18] - The revenue structure for 2024 was 43% from medical consumables and 56% from consumer products [18] Group 3: Profitability - The net profit attributable to shareholders reached 7.0 billion CNY, a 19.8% increase compared to 2023 [21] - The net profit margin improved to 7.7%, up 0.7 percentage points from the previous year [21] - The gross profit margin for 2024 was 47.3%, indicating a stable profitability trend [20] Group 4: Asset Quality and R&D Investment - Total assets at the end of 2024 were 184 billion CNY, a 7.5% increase from the previous year [26] - The asset-liability ratio stood at 35.4%, maintaining a low level [26] - The company emphasized R&D, with a steady increase in the number of patents and medical product registrations [26] Group 5: Shareholder Returns - The proposed cash dividend for 2024 is 3.8 billion CNY, representing 54% of the net profit [30] - Cumulative cash dividends since listing amount to 26.1 billion CNY, accounting for 93% of the net proceeds from the IPO [30] Group 6: Medical Consumables Business - The medical segment generated 39.1 billion CNY in revenue for 2024, showing resilience despite a high base from infection protection products [34] - Excluding infection protection, the medical consumables revenue was 35.5 billion CNY, a 20.4% increase year-on-year [34] - Core categories such as high-end dressings and surgical consumables saw revenue growth exceeding 30% [34] Group 7: Consumer Products Business - The consumer segment, led by Purcotton, achieved 49.9 billion CNY in revenue, a 17.1% increase from 2023 [43] - Online sales contributed 62% of the revenue, while offline stores accounted for 30% [46] - The company added 92 new offline stores in 2024, bringing the total to 487 [46] Group 8: Q1 2025 Performance Overview - In Q1 2025, total revenue reached 26.1 billion CNY, a 36.5% increase year-on-year [53] - The medical business revenue for Q1 2025 was 12.5 billion CNY, up 46.3% [54] - The consumer business generated 13.4 billion CNY, reflecting a 28.8% growth [54]