Summary of Key Points Core Viewpoint - On February 11, a total of 7 companies had their restricted shares unlocked, with a total unlocking volume of 730 million shares, amounting to a market value of 12.451 billion yuan based on the latest closing prices [1] Group 1: Unlocking Volume - The companies with the highest unlocking volumes were Hailianxun, Qingsong Jianhua, and Mailande, with unlocking shares of 426 million, 226 million, and 6.317 million respectively [1] Group 2: Unlocking Market Value - In terms of unlocking market value, Hailianxun, Mailande, and Qingsong Jianhua led with market values of 7.696 billion yuan, 2.818 billion yuan, and 1.03 billion yuan respectively [1] Group 3: Proportion of Total Share Capital - The companies with the highest proportion of unlocked shares relative to total share capital were Mailande, Hailianxun, and Qingsong Jianhua, with unlocking ratios of 63.17%, 28.07%, and 14.08% respectively [1]

Core Viewpoint - On February 10, a total of 7 listed companies will have their restricted shares unlocked, with a total market value of approximately 5.102 billion yuan [1] Group 1: Company Specifics - Qingsong Jianhua (Stock Code: 600425) will unlock 226 million shares from the issuance of A-shares to original shareholders [1] - Wuchan Jinlun (Stock Code: 002722) will unlock 31.07 million shares from the issuance of A-shares to legal persons [1] - Igor (Stock Code: 002922) will unlock 872,400 shares from equity incentive restrictions [1] - Laisentongling (Stock Code: 603900) will unlock 1.155 million shares from equity incentive restrictions [1] - Xidiwei (Stock Code: 688173) will unlock 1.7208 million shares [1] - Mailande (Stock Code: 688273) will unlock 63.1732 million shares [1] - Yutaiwei (Stock Code: 688515) will unlock 30.1806 million shares [1]

Economic Data - The People's Bank of China will release January CPI and PPI on February 11 [1] - The National Bureau of Statistics will publish the monthly report on January commodity residential sales price index on February 13 [1] - Financial data including January social financing and new RMB loans will also be released next week [1] - In the US, December retail sales month-on-month will be announced on February 10, followed by January unemployment rate and non-farm employment data on February 11 [1] Earnings Reports - The US earnings season continues with several notable companies reporting next week, including BP, Barclays, Marriott, Coca-Cola, and AstraZeneca on February 10 [2] - Other companies such as NetEase, Youdao, and Total will report on February 11, while TripAdvisor and Hyatt will report on February 12 [2] - In Hong Kong, SMIC will report earnings on February 10, followed by Budweiser APAC and NetEase Cloud Music on February 11 [2] New Stock Issuance - One new stock, Tongbao Optoelectronics, will be available for subscription on February 9, with Ai De Technology listing on the Beijing Stock Exchange on February 10 [2] - Several new stocks will list in Hong Kong, including Lanke Technology on February 9 and Aixin Yuanzhi on February 10 [2] Stock Unlocking - A total of 33 restricted stocks will be unlocked next week, with a total market value exceeding 36 billion yuan, led by Hunan YN with 24.096 billion yuan [3][10] Central Bank Operations - The central bank will have 4.055 billion yuan of reverse repos maturing next week, with specific amounts maturing each day [3][10] Government Bonds - The Ministry of Finance will issue the first phase of RMB government bonds in Hong Kong on February 11, with a scale of 14 billion yuan [13]

中国1月CPI、PPI数据将公布；1月金融数据或将公布；2025年第四季度恒生指数系列检讨结果将发布。 1月CPI、PPI数据将公布 2月11日，国家统计局将公布1月CPI、PPI数据。 财通证券预计1月CPI同比增速为0.4%。1月猪肉价格小幅上行，鲜菜价格回落，鲜果价格上行，金价大幅上升，但高基数下，预计1月CPI同比增速小幅下行 至0.4%。 PPI方面，财通证券预计1月PPI同比增速为-1.5%。1月出厂价格指数上升1.7个百分点至50.6%，主要原材料购进价格指数上升3个百分点至56.1%。 从解禁市值来看，2月9日是解禁高峰期，12家公司解禁市值合计307.41亿元，占下周解禁规模的84.71%。按2月6日收盘价计算，解禁市值居前三位的是：湖 南裕能（240.96亿元）、甘肃能化（40.08亿元）、麦澜德（27.44亿元）。从个股的解禁量看，解禁股数居前三位的是：甘肃能化（16.23亿股）、湖南裕能 （3.74亿股）、青松建化（2.26亿股）。 | | | 下周解禁个股 | | | | | --- | --- | --- | --- | --- | --- | | 个股代码 | 公司简称 | 解禁 ...

Summary of Key Points Core Viewpoint - A total of 31 companies will have their restricted shares unlocked from February 9 to February 13, with a total of 2.446 billion shares being released, amounting to a market value of 36.293 billion yuan based on the closing price on February 6 [1]. Group 1: Unlocking Details - February 9 is identified as the peak day for share unlocks, with 12 companies releasing shares worth a total of 30.741 billion yuan, which constitutes 84.71% of the total unlocking scale for the week [1]. - The top three companies by market value of unlocked shares are Hunan YN (24.096 billion yuan), Gansu Energy Chemical (4.008 billion yuan), and Meilan De (2.744 billion yuan) [1]. Group 2: Unlocking Volume - The companies with the highest number of unlocked shares are Gansu Energy Chemical (1.623 billion shares), Hunan YN (374 million shares), and Qingsong Jianhua (226 million shares) [1]. Group 3: Types of Restricted Shares - The types of restricted shares being unlocked include 9 from original shareholders of the initial public offering (IPO), 8 from general equity incentives, 5 from directed placements, 5 from restricted equity incentives, 3 from strategic placements of the IPO, 2 from institutional placements of the IPO, and 1 from other types [1].

Investment Rating - The report maintains an "Outperform" rating for the pharmaceutical and biotechnology industry [1] Core Insights - The medical device bidding market is expected to maintain high prosperity in 2025, driven by policy and demand resonance, with a projected market size of CNY 193.76 billion, representing a year-on-year growth of 24% [3][11] - The upward trend for medical device companies is clear for 2026, with multiple policies expected to support the continuous development of medical innovation [4][29] - The report emphasizes the importance of high-end product localization and innovation in driving growth for leading domestic companies [33][41] Summary by Sections Bidding Review - The medical device bidding market in 2025 is projected to reach CNY 193.76 billion, with a year-on-year increase of 24%, second only to the peak in 2022 [3][11] - Monthly bidding trends show sustained high levels, with procurement amounts from July to December ranging from CNY 134 billion to CNY 285 billion [3][11] - Key segments such as medical imaging equipment and radiation therapy devices are expected to see significant growth, with year-on-year increases of 35.37% and 36.34% respectively [3][16] 2026 Outlook - The report anticipates a clear upward turning point for medical device companies in 2026, supported by policies aimed at promoting medical innovation and equipment updates [4][29] - The implementation of large-scale equipment updates and consumer replacement policies is expected to further stimulate market demand [4][29] - The report highlights the potential for domestic companies to benefit from high-end product upgrades and the commercialization of brain-computer interface technologies [4][50] Investment Recommendations - The report suggests focusing on leading domestic companies that are enhancing their high-end and intelligent medical device offerings, such as Mindray, United Imaging, and KaiLi Medical [4][33] - It also recommends monitoring companies involved in brain-computer interfaces and domestic robotics, which are expected to see significant growth in the coming years [4][50]

天眼查显示，近日，南京澜犀脑机科技有限公司成立，法定代表人为杨瑞嘉，注册资本2000万人民币， 由南京麦澜德医疗科技股份有限公司全资持股。 企业名称南京澜犀脑机科技有限公司法定代表人杨瑞嘉注册资本2000万人民币国标行业科学研究和技术 服务业>专业技术服务业>工业与专业设计及其他专业技术服务地址江苏省南京市栖霞区仙林街道纬地 路9号江苏生命科技园A3栋701、702、703、704室企业类型有限责任公司（自然人投资或控股的法人独 资）营业期限2026-2-2至无固定期限登记机关南京市栖霞区政务服务管理办公室 来源：市场资讯 序号股东名称持股比例1南京麦澜德医疗科技股份有限公司100% 经营范围含许可项目：第二类医疗器械生产；第三类医疗器械生产；第三类医疗器械经营；医疗器械互 联网信息服务（依法须经批准的项目，经相关部门批准后方可开展经营活动，具体经营项目以审批结果 为准）技术服务、技术开发、技术咨询、技术交流、技术转让、技术推广；第一类医疗器械销售；第二 类医疗器械销售；计算机软硬件及外围设备制造；计算机软硬件及辅助设备批发；计算机软硬件及辅助 设备零售；计算机系统服务；软件开发；软件销售；数据处理和存储支持 ...

Core Viewpoint - The announcement details the upcoming listing and circulation of restricted shares for Nanjing Mailland Medical Technology Co., Ltd., which will take place on February 11, 2026, involving a total of 63,173,210 shares, representing 63.1732% of the company's total share capital [2][4][24]. Group 1: Listing Details - The type of stock being listed is restricted shares from the initial public offering (IPO), with a total of 63,173,210 shares set for circulation [2][24]. - The shares will be available for trading starting on February 11, 2026 [4][25]. Group 2: Share Capital Changes - Following the IPO, the company's total share capital was established at 100 million shares, with 77,642,626 shares subject to restrictions and 22,357,374 shares unrestricted [4]. - The total share capital increased to 100.62 million shares after the first grant of restricted stock in May 2023, but was later reduced back to 100 million shares due to the termination of the stock incentive plan in April 2024 [5][6]. Group 3: Shareholder Commitments - Shareholders holding restricted shares have made commitments regarding the lock-up period, including not transferring shares for 36 months post-IPO and adhering to specific conditions for any future share sales [8][10][14]. - If the stock price falls below the IPO price for a specified period, the lock-up period will automatically extend by at least six months [8][10][14]. Group 4: Compliance and Verification - The sponsor institution, Nanjing Securities Co., Ltd., has verified that the shareholders have complied with their commitments regarding the restricted shares, confirming that the listing and circulation of these shares meet legal and regulatory requirements [22][23].

证券代码：688273 证券简称：麦澜德 公告编号：2026-002 南京麦澜德医疗科技股份有限公司 关于首次公开发行部分限售股上市流通公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 本次股票上市类型为首发限售股份；股票认购方式为网下，上市股数为 63,173,210股。 六次会议，审议通过了《关于向激励对象首次授予限制性股票的议案》。公司于 2023 年 5 月 9 日完成了 2023 年限制性股票激励计划第一类限制性股票授予登记工 作，公司总股本由 10,000 万股增加至 10,062 万股。具体内容详见公司于 2023 年 5 月 11 日在上海证券交易所网站（www.sse.com.cn）披露的《2023 年限制性股票激 励计划第一类限制性股票授予结果公告》（公告编号：2023-027）。 本次股票上市流通总数为63,173,210股。 本次股票上市流通日期为2026 年 2 月 11 日。 一、本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意南京麦澜德医疗科技股份有 限 ...

南京证券股份有限公司 关于南京麦澜德医疗科技股份有限公司 二、本次上市流通的限售股形成后至今公司股本数量变化情况 首次公开发行部分限售股上市流通事项的核查意见 南京证券股份有限公司（以下简称"保荐机构"）作为南京麦澜德医疗科技股 份有限公司（以下简称"麦澜德"或"公司"）首次公开发行股票并上市及持续督导 的保荐机构，根据《中华人民共和国公司法》《中华人民共和国证券法》《上海 证券交易所科创板股票上市规则》等有关规定，对麦澜德首次公开发行部分限售 股上市流通事项进行了核查，发表如下意见： 一、本次上市流通的限售股类型 根据中国证券监督管理委员会出具的《关于同意南京麦澜德医疗科技股份有 限公司首次公开发行股票注册的批复》（证监许可〔2022〕1189 号），南京麦 澜德医疗科技股份有限公司（以下简称"公司"）获准向社会公众公开发行人民币 普通股（A 股）2,500 万股，并于 2022 年 8 月 11 日在上海证券交易所科创板上 市，发行完成后公司总股本为 100,000,000 股，其中有限售条件流通股为 77,642,626 股，无限售条件流通股为 22,357,374 股。 本次上市流通的限售股均为公司首 ...