上海凯利泰医疗科技股份有限公司 2020 年第一季度报告 上海凯利泰医疗科技股份有限公司 二 0 二 0 年第一季度报告 证券代码：300326 股票简称：凯利泰 披露日期：二 O 二 0 年四月二十九日 1 上海凯利泰医疗科技股份有限公司 2020 年第一季度报告 第一节 重要提示 1、公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导性陈 述或者重大遗漏，并承担个别和连带的法律责任。 2、所有董事均已出席了审议本次季报的董事会会议。 3、公司负责人袁征、主管会计工作负责人李元平及会计机构负责人(会计主管人员)李元平声明：保证季度报告中财务报表 的真实、准确、完整。 4、公司第一季度财务报告未经会计师事务所审计。 非标准审计意见提示 □ 适用 √ 不适用 2 上海凯利泰医疗科技股份有限公司 2020 年第一季度报告 截止披露前一交易日的公司总股本： 截止披露前一交易日的公司总股本（股） 722,976,333 公司报告期末至季度报告披露日股本是否因发行新股、增发、配股、股权激励行权、回购等原因发生变化且影响所有者权益 金额 □ 是 √ 否 | 支付的优先股股 ...

Financial Performance - The company's operating revenue for 2019 was CNY 1,222,288,041.86, representing a 31.30% increase compared to CNY 930,906,810.95 in 2018[16]. - The net profit attributable to shareholders decreased by 34.64% to CNY 302,327,376.55 from CNY 462,567,219.32 in the previous year[16]. - The net profit after deducting non-recurring gains and losses increased by 94.06% to CNY 282,640,638.37, compared to CNY 145,645,168.36 in 2018[16]. - The net cash flow from operating activities surged by 168.35% to CNY 255,608,624.59, up from CNY 95,252,512.27 in 2018[16]. - The total assets at the end of 2019 were CNY 3,770,168,570.79, a 5.61% increase from CNY 3,569,768,864.18 at the end of 2018[16]. - The net assets attributable to shareholders increased by 9.99% to CNY 2,748,305,113.69 from CNY 2,498,692,654.24 in 2018[16]. - The basic earnings per share decreased by 35.03% to CNY 0.4189 from CNY 0.6448 in 2018[16]. - The company reported a significant increase in product registrations, with 53 new medical devices approved, including various types of bone fixation plates and screws[52]. Dividend Distribution - The company reported a cash dividend of 0.5 RMB per 10 shares (including tax) for a total of 722,962,682 shares, with no bonus shares issued[6]. - The cash dividend distribution represents 100% of the total profit distribution amount[196]. - The company’s distributable profits as of December 31, 2019, amounted to RMB 808,843,011.08[197]. - The company has a policy of distributing at least 10% of the annual distributable profits as cash dividends[192]. - The proposal for the 2019 profit distribution is subject to approval at the 2020 annual general meeting[198]. Product Development and Innovation - The company plans to focus on developing minimally invasive orthopedic products, particularly in the field of sports medicine, leveraging its existing orthopedic channel resources[26]. - The company has expanded its product line from a single spinal product to a comprehensive range covering orthopedic trauma, spinal, joint minimally invasive, and sports medicine[26]. - The company is actively pursuing product registration renewals and changes, indicating ongoing innovation and compliance efforts[51]. - The company is committed to enhancing its technological capabilities in the medical device sector[51]. - The company is focused on expanding its product offerings in the field of minimally invasive surgery, including various surgical tools and systems[55]. - The company is committed to ongoing research and development to support its product pipeline and address emerging market needs[57]. Market Expansion and Strategic Partnerships - The company has invested in the establishment of a regional medical device distribution platform in collaboration with China National Pharmaceutical Group, aiming to improve market penetration[33]. - The company is focusing on optimizing its sales model and marketing system to ensure sustainable growth in core business areas[30]. - The company is actively pursuing market expansion in regions such as Argentina, Brazil, and Colombia, with plans for long-term product availability[57][58]. - The company is focused on expanding its international market presence, particularly in the US and Europe, leveraging partnerships and existing sales networks[168]. - The company aims to strengthen its competitive edge by providing stable products and professional clinical services in the medical device sector[162]. Acquisitions and Investments - The company has successfully integrated the acquisition of Aideer, optimizing the orthopedic product line and sales channels, enhancing overall core competitiveness[30]. - The company acquired 100% equity of Elliquence, LLC for approximately $77.15 million (about RMB 495 million), with an initial payment of $61.55 million and the remaining $15.6 million to be paid in installments over three years[37]. - The company has established a joint venture with TECRES S.P.A for the development of bone cement products, which will enhance its product line and core competitiveness[39]. - The company has made significant investments in sports medicine, with multiple products approved, including a Class III medical device for soft tissue repair[32]. - The company has invested in Axis360 Surgical, Incorporated to enhance its customer resources in the U.S. market and improve the promotion of orthopedic products[44]. Regulatory Compliance and Quality Control - The company has a comprehensive quality control system, emphasizing product quality as a core value and ensuring strict compliance with national regulations[47]. - The company is focused on regulatory compliance and maintaining a robust pipeline of medical device registrations to support its growth strategy[56]. - The company has obtained all necessary production and operational licenses, with a low likelihood of failing to renew them in the future[178]. - The company has not faced any product liability claims or related legal issues, thanks to its robust product quality control system[179]. Risks and Challenges - The company anticipates intensified market competition as a potential risk to its growth strategy[175]. - The company faces risks from centralized procurement policies that could affect product sales and pricing, and plans to enhance product quality and market presence to mitigate these risks[182]. - Regulatory changes in the medical device industry may lead to price reductions, posing challenges to the company's market competitiveness[183]. - The company's accounts receivable have increased, posing a risk of delayed collections, but it has implemented strict management measures to mitigate this risk[186]. - The company may encounter management risks as it expands internationally, requiring adaptation to different market environments and customer needs[187].

Financial Performance - Operating revenue for the reporting period was CNY 291,529,821.17, representing a year-on-year increase of 26.38%[9] - Net profit attributable to shareholders of the listed company reached CNY 68,043,416.92, up 41.77% year-on-year[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 64,327,835.08, an increase of 42.28% compared to the same period last year[9] - Basic earnings per share for the reporting period were CNY 0.0942, reflecting a growth of 40.60% year-on-year[9] - The weighted average return on net assets was 2.94%, an increase of 0.68 percentage points compared to the previous year[9] - The company reported a net profit of CNY 84.96 million for Q3 2019, compared to CNY 60.68 million in Q3 2018, reflecting a growth of 40%[59] - Net profit for Q3 2019 reached CNY 68,011,187.10, up from CNY 48,510,467.74 in the same period last year, representing a growth of approximately 40.5%[60] - The total profit for Q3 2019 was CNY 83,363,517.48, up from CNY 60,267,341.06 in the previous year, marking an increase of approximately 38.3%[60] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,514,958,420.18, a decrease of 1.54% compared to the end of the previous year[9] - The company's total assets as of September 30, 2019, were CNY 2.79 billion, down from CNY 2.99 billion at the end of 2018[55] - Total liabilities decreased to CNY 879.51 million in Q3 2019 from CNY 1.07 billion in the previous year[52] - The total amount of prepayments was CNY 16,568,940.25[87] - The company has a long-term payable of CNY 81,900,000.00[88] - Total liabilities reached CNY 687,643,451.00, with current liabilities totaling CNY 583,507,138.25[89] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 63,102,196.67, an increase of 32.26%[9] - The cash inflow from operating activities totaled CNY 850,562,058.82, an increase of 13.5% compared to CNY 749,216,963.44 in the previous period[74] - The net cash flow from operating activities was CNY 63,102,196.67, up from CNY 47,709,154.61, representing a growth of 32.5%[75] - The cash outflow from investing activities was CNY 758,375,890.57, slightly higher than CNY 757,471,034.49 in the previous period[75] - The cash inflow from sales of goods and services was CNY 819,072,092.81, an increase from CNY 716,699,073.53 in the previous period[74] Shareholder Information - The company reported a total of 19,316 common shareholders at the end of the reporting period[13] - The top ten shareholders held a combined 56.67% of the shares, with the largest shareholder holding 6.93%[13] - The company plans to distribute a cash dividend of RMB 0.70 per 10 shares, amounting to a total distribution based on 722,180,029 shares[41] Investments and Joint Ventures - The company established a joint venture with TECRES S.P.A., holding 51% of the equity, with a registered capital of 14 million yuan[31] - The company reported a loss of CNY 2,405,843.48 from investments in associates and joint ventures, compared to a loss of CNY 948,306.75 in the previous period[62] - The investment income from associates and joint ventures showed a loss of ¥4,110,753.47, worsening from a loss of ¥1,558,007.48 in the previous year[66] Research and Development - Research and development expenses for Q3 2019 amounted to CNY 12.17 million, representing an increase from CNY 10.75 million in Q3 2018[59] - Research and development expenses for Q3 2019 amounted to CNY 8,772,187.97, an increase from CNY 6,546,220.57 in the previous year, indicating a focus on innovation[62] - Research and development expenses rose to ¥32,565,970.01, a 9.9% increase compared to ¥29,613,159.23 in the previous year[64] Stock and Equity - Net assets attributable to shareholders of the listed company increased by 5.27% to CNY 2,630,421,692.41[9] - The company granted a total of 8,500,000 restricted stocks to 24 incentive objects at a price of RMB 4.94 per share, later adjusted to RMB 4.87 per share[34] - The company has completed the registration procedures for the granted restricted stocks by July 30, 2019[34] Financial Management - The company incurred financial expenses of CNY 773,986.58, a decrease from CNY 3,302,345.37 in the previous year, indicating improved financial management[62] - The company has implemented new financial instrument standards from January 1, 2019, affecting prior financial data[89] Future Plans - The company plans to continue investing in new product development and market expansion strategies to drive future growth[59] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[62] - The company plans to continue expanding its market presence and investing in new product development to drive future growth[66]

Financial Performance - Total operating revenue for the first half of 2019 was RMB 568,398,441.34, an increase of 24.49% compared to RMB 456,584,632.45 in the same period last year[16]. - Net profit attributable to shareholders of the listed company reached RMB 153,792,625.34, reflecting a growth of 38.56% from RMB 110,991,615.68 year-on-year[16]. - Net profit after deducting non-recurring gains and losses was RMB 145,368,254.44, which is a 50.32% increase compared to RMB 96,708,887.07 in the previous year[16]. - Basic earnings per share increased to RMB 0.2133, up 37.79% from RMB 0.1548 in the same period last year[17]. - Diluted earnings per share rose to RMB 0.2132, representing a 38.17% increase from RMB 0.1543 year-on-year[17]. - The weighted average return on net assets improved to 6.13%, compared to 5.24% in the previous year[17]. - The company’s net profit after deducting non-recurring gains and losses was CNY 145.37 million, a year-on-year increase of 50.32%[66]. - The sales revenue of orthopedic medical devices reached CNY 395.08 million, an increase of 56.44% year-on-year, driven by strong performance in vertebral expansion balloon catheter products[67]. Cash Flow and Assets - The net cash flow from operating activities improved to -RMB 6,398,760.55, a 48.28% improvement from -RMB 12,371,486.08 in the same period last year[17]. - Cash and cash equivalents at the end of the period amounted to 629.96 million yuan, a decrease of 39.76% compared to the beginning of the period, primarily due to changes in cash flows from operating, investing, and financing activities[32]. - Accounts receivable at the end of the period reached 510.42 million yuan, an increase of 33.71% compared to the beginning of the period, driven by expanded sales scale and credit policies[32]. - The net cash flow from operating activities was RMB 89,838,400, an increase of 48.28% compared to the same period last year, primarily due to increased sales and cash received from operations[80]. - The cash and cash equivalents decreased significantly by RMB 415,834,097.82, reflecting a 1,013.37% decline compared to the previous year[80]. Investments and Acquisitions - The acquisition of Aideer has allowed the company to optimize and integrate its orthopedic product lines and sales channels[26]. - The acquisition of 100% equity in Elliquence, LLC enhances the company's capabilities in surgical energy platforms and high-value consumables[29]. - The company plans to invest 77.15 million USD in acquiring 100% equity of Elliquence, LLC, with 20.56 million yuan sourced from raised funds[104]. - The company has invested significantly in acquiring equity stakes, including 69.87 million yuan for acquiring equity in Yisheng Technology (Beijing) Co., Ltd.[101]. - The company completed the acquisition of US-based Elliquence in August 2018, which began contributing to profits during the reporting period[66]. Research and Development - The company focuses on the R&D, production, and sales of orthopedic medical devices, particularly minimally invasive surgical systems for treating osteoporotic vertebral compression fractures[25]. - The company is actively developing multiple new products, including spinal anterior fixation systems and metal locking bone plate systems, which are in various stages of design and clinical trials[69]. - R&D investment totaled RMB 22.21 million, slightly down compared to the same period last year[70]. - The company plans to strengthen R&D investment focusing on minimally invasive surgical products in orthopedics and sports medicine[70]. - The company has been actively recruiting high-level talents in R&D, quality, and sales, which will enhance its core competitiveness in the long term[40]. Product Development and Regulatory Approvals - The company has launched multiple new medical devices, including a titanium metal screw for fracture fixation, expected to be registered by December 2023[46]. - The company is focusing on the development of advanced surgical tools, such as a medical endoscope imaging system, expected to be available by March 28, 2023[46]. - The company is currently applying for 20 domestic medical device product registration certificates[48]. - The company has received regulatory approval for a variety of surgical instruments, including a spinal fixation device and a metal locking plate system, enhancing its market offerings[46]. - The company is actively pursuing regulatory approvals for its innovative medical devices in compliance with national food and drug administration regulations[48]. Market Position and Strategy - The company has a strong market presence with sales covering over 2,000 hospitals, positioning it as a leader in the domestic minimally invasive spinal surgery field[37]. - The company aims to enhance its market presence through the introduction of innovative medical technologies[52]. - The company is strategically positioning itself in the orthopedic market by introducing a range of new fixation devices and surgical instruments[46]. - The company is expanding its market presence with new product registrations and clinical applications in international markets[49]. - The company is focused on maintaining regulatory compliance while expanding its product offerings in the medical device sector[46]. Shareholder and Corporate Governance - The company plans not to distribute cash dividends or bonus shares, nor to increase capital from reserves[8]. - The company held two temporary shareholder meetings and one annual shareholder meeting during the reporting period, with investor participation rates of 32.97% and 29.37% for the temporary meetings, and 20.74% for the annual meeting[146]. - The half-year financial report has not been audited, indicating that the financial data may be subject to further review[152]. - The company has implemented a stock option incentive plan, granting 5.554 million stock options to 125 eligible participants, with an exercise price set at 29.64 yuan[157]. - The company has ongoing commitments related to shareholding restrictions, with a limit of 25% on the transfer of shares held by certain individuals within six months after their departure[149]. Risks and Challenges - The company faces risks from centralized procurement policies that could affect sales and pricing, and it plans to enhance product quality and market influence to mitigate these risks[138]. - The company is expanding its international presence, which may introduce management risks if it cannot adapt to different market environments and customer needs[142]. - The company has made acquisitions that have diversified its product line, but there is a risk of goodwill impairment if the acquired companies do not meet performance expectations[140]. - The company's accounts receivable have increased, and while it has provisions for bad debts, there remains a risk of delayed collections due to uncertainties in customer financial situations[141]. - The company is adapting to regulatory changes in the medical device industry, which may require adjustments to its marketing system to maintain competitiveness[139].

Financial Performance - Total revenue for Q1 2019 reached ¥288,758,284.84, an increase of 24.49% compared to the same period last year[7] - Net profit attributable to shareholders was ¥72,766,130.83, reflecting a growth of 48.88% year-over-year[7] - Net profit after deducting non-recurring gains and losses was ¥67,967,311.48, up 61.68% from the previous year[7] - Basic earnings per share increased to ¥0.1011, representing a 48.02% rise year-over-year[7] - Operating profit for the quarter was ¥88,579,200, an increase of 56.96% year-over-year[14] - Net profit attributable to ordinary shareholders was 7,276.61 million, an increase of 48.88% compared to the same period last year[26] - The company achieved significant growth in operating profit and total profit, with increases of 56.96% and 59.70% respectively compared to the previous year[26] - The company reported a total comprehensive income of CNY 67,433,141.27 for Q1 2019, compared to CNY 48,110,991.27 in the same quarter last year, an increase of 40.2%[71] Cash Flow and Liquidity - Operating cash flow for the quarter was negative at -¥19,549,300.95, a decline of 55.49% compared to the same period last year[7] - The net cash flow from operating activities was -1,954.93 million, a decrease of 697.63 million or 55.49% year-over-year, due to increased procurement and labor costs[24] - The company's cash and cash equivalents at the end of the period amounted to 93,065.95 million, a decrease of 11,513.34 million or 11.01% compared to the beginning of the period, primarily due to changes in cash flows from operating, investing, and financing activities[17] - The cash flow from operating activities showed a net outflow of CNY 19,549,300.95, worsening from a net outflow of CNY 12,572,972.32 in the same quarter last year[78] - The net cash flow from financing activities was -160,884,761.27 CNY, compared to a positive cash flow of 8,145,238.17 CNY in the previous year[82] Assets and Liabilities - The company’s total assets at the end of the quarter were ¥3,591,568,196.65, a slight increase of 0.61% from the end of the previous year[7] - Total current assets amounted to CNY 1,873,372,295.88, an increase from CNY 1,844,436,422.34 as of December 31, 2018, reflecting a growth of approximately 1.5%[59] - Total liabilities decreased to CNY 1,005,099,829.70 from CNY 1,067,674,889.95, a reduction of about 5.8%[62] - The company's equity attributable to shareholders increased to CNY 2,583,004,244.65 from CNY 2,498,692,654.24, reflecting a growth of approximately 3.4%[62] Market and Product Development - The company continues to focus on product R&D and technological innovation, expanding its product line and exploring new business areas[25] - The company has integrated the newly acquired low-temperature radiofrequency business, contributing positively to profits[26] - The company has established a series of orthopedic medical device product lines through acquisitions, occupying a certain market share in the domestic orthopedic market, but competition is expected to intensify in the future[28] - The company plans to continue expanding its market presence and invest in new product development to drive future growth[70] Investments and Acquisitions - The company acquired 100% equity of Elliquence, LLC for $77,152,000, with the first payment of $61,552,000 made on August 21, 2018[43] - The company sold 100% equity of its subsidiary, Yisheng Technology, for a total transaction price of approximately RMB 879 million, with a performance guarantee of up to RMB 310 million[44] - The company plans to invest RMB 28 million in a joint venture with TECRES S.P.A., holding a 51% stake in the new company[42] - The company has a total of RMB 8,500 million allocated for the acquisition of Yisheng Technology, with 100% completion on the investment[50] Regulatory and Compliance - The company has obtained all necessary production and operation licenses, and the likelihood of failing to renew these licenses is low[31] - The company has not experienced any product liability claims or related legal issues since its establishment, indicating strong product quality control[32] - The company has implemented a strict accounts receivable management policy to ensure timely collection and minimize bad debt risks[40] - The company is actively adapting to regulatory changes and enhancing its quality control systems to mitigate policy risks[36] Shareholder and Financial Management - As of March 29, 2019, the company repurchased 412,600 shares, accounting for 0.057% of the total share capital, with a total transaction amount of RMB 4,175,512[48] - The company plans to use a total of RMB 80 million to RMB 150 million for share repurchase, with a maximum repurchase price of RMB 12.00 per share[46] - The company has a commitment to use its own funds or raised funds for share repurchase within 12 months from the board's approval date[47] - The company has not disclosed any issues regarding the timely, truthful, accurate, and complete disclosure of related information[53]

Financial Performance - The company reported a cash dividend of 0.7 RMB per 10 shares for all shareholders, with no bonus shares issued[7]. - The company's operating revenue for 2018 was approximately ¥930.91 million, representing a 16.03% increase compared to ¥802.27 million in 2017[17]. - Net profit attributable to shareholders reached approximately ¥462.57 million, a significant increase of 137.24% from ¥194.98 million in 2017[17]. - The net profit after deducting non-recurring gains and losses was approximately ¥145.65 million, showing a decrease of 20.03% compared to ¥182.12 million in 2017[17]. - The total assets of the company increased by 32.48% to approximately ¥3.57 billion at the end of 2018, up from ¥2.69 billion at the end of 2017[17]. - The basic earnings per share for 2018 was ¥0.6448, reflecting a 136.45% increase from ¥0.2727 in 2017[17]. - The weighted average return on equity was 20.45%, up from 10.09% in the previous year, indicating improved profitability[17]. - The company's net profit for the reporting period was 24,322,100 CNY, with overseas assets accounting for 2.57% of total net assets[36]. - The company achieved operating revenue of 930.91 million yuan in 2018, representing a growth of 16.03% compared to the previous year[55]. - Net profit attributable to ordinary shareholders was 462.57 million yuan, an increase of 137.24% year-on-year[55]. Acquisitions and Investments - The company successfully acquired Aideer, optimizing and integrating product lines and sales channels in the orthopedic sector[28]. - The company completed the acquisition of 100% equity in Elliquence, LLC, a US company specializing in surgical energy platforms and high-value consumables, which will enhance the company's capabilities in orthopedic equipment and expand its market presence[31]. - The company plans to sell its wholly-owned subsidiary, Yisheng Technology, to focus resources on the orthopedic medical device sector, completing the transfer of ownership as of the reporting period[32]. - The company has made significant investments, including a total of 55.84 million yuan in R&D, which accounted for 6% of the operating revenue[61]. - The acquisition of Elliquence, LLC was completed for a total price of 77.15 million USD, enhancing the company's product offerings[65]. - The company has invested a total of 236,125,310.39 CNY in Shanghai Xianfeng Investment Management Co., with a 100% ownership stake[111]. - The company has made a significant investment of CNY 510,000,000 in Shaanxi Kailitai Rui Medical Equipment Trading Co., holding a 51% stake[111]. Product Development and Innovation - The company has obtained medical device registration certificates for arthroscopic threaded cannulas, medical cold light sources, and endoscopic imaging systems, which are primarily used in arthroscopic surgeries[29]. - The orthopedic product line has expanded from a single spinal product to cover trauma, spinal, and minimally invasive joint products, with a focus on developing arthroscopic products in the sports medicine field[30]. - The company is focused on expanding its product offerings in the orthopedic sector, particularly in minimally invasive surgery[46]. - Continuous innovation in product development is a key strategy for the company to enhance its competitive position in the medical device market[46]. - The company is currently applying for 25 medical device product registrations, including a dual-frequency radiofrequency surgical knife and a hydraulic vertebroplasty system[49]. - The company has launched multiple Class II and Class III medical devices, including a "Hollow Bone Screw" and "Metal Locking Plate System," aimed at enhancing orthopedic surgical procedures[47][48]. - The company aims to enhance its product portfolio with new technologies that address specific medical needs in the surgical field[49]. Market Presence and Strategy - The company has a strong market presence, with sales covering over 2,000 hospitals, solidifying its leading position in the domestic minimally invasive spinal field[39]. - The company is focused on enhancing its marketing system and regional management to ensure sustainable growth in core business areas[28]. - The company plans to optimize resource allocation and focus on areas with stronger competitive advantages, which is expected to improve its asset structure and reduce the asset-liability ratio[135]. - The company aims to expand its market share through acquisitions of domestic and international medical device companies, targeting high-barrier, technology-intensive projects to achieve rapid low-cost expansion[157]. - The company plans to invest RMB 390 million to increase capital in its wholly-owned subsidiary, Yisheng Technology, and acquire 100% equity of DeepTech, with a total valuation of RMB 405 million[140]. Regulatory Compliance and Quality Control - The company emphasizes that forward-looking statements do not constitute a commitment to investors, highlighting potential risks and countermeasures in future operations[6]. - The company operates in the medical device industry, which requires compliance with specific disclosure requirements[5]. - The company is committed to ensuring the accuracy and completeness of its financial reports, with key personnel affirming this responsibility[5]. - The company emphasizes strict quality control, implementing a comprehensive quality management system across all operational stages[42]. - The company has obtained necessary production and operation licenses, with a low risk of failing to renew these licenses in the future[161]. - The company emphasizes product quality control and has not faced any product liability claims or related legal issues to date[162]. Financial Management and Fundraising - The company has maintained a significant portion of its fundraising in dedicated accounts, ensuring proper management and allocation of funds[117]. - The company’s fundraising management adheres to regulatory guidelines, ensuring transparency and compliance in its financial activities[119]. - The total amount of fundraising utilized by the company as of the report period is RMB 82,896.16 million, with 35.24% of the total amount remaining unused[117]. - The company has a consistent cash dividend policy, distributing at least 10% of the distributable profit as cash dividends each year[176]. - The company reported a total investment commitment of 64,804.9 million, with a cumulative investment of 66,067.9 million, achieving a progress rate of 20,958.7 million or 38.6%[124]. Human Resources and Talent Acquisition - The company has introduced high-level management talent in R&D, quality, and sales, enhancing its core competitiveness[41]. - The workforce has been enhanced with the recruitment of mid-to-senior level talents, particularly in the sports medicine field, to strengthen core competitiveness[70]. - The company emphasizes the importance of attracting high-end talent across multiple disciplines to support product development in the minimally invasive medical device industry[153]. - The company is focused on retaining core technical talent amidst increasing competition for skilled professionals in the industry[163].

Financial Performance - Operating revenue for the quarter was CNY 230,684,140.62, representing a year-on-year growth of 12.24%[9] - Net profit attributable to shareholders decreased by 14.99% to CNY 47,994,391.37 compared to the same period last year[9] - The net profit after deducting non-recurring gains and losses was CNY 45,213,018.10, down 13.23% year-on-year[9] - The basic earnings per share was CNY 0.0670, a decrease of 15.19% compared to the same period last year[9] - The weighted average return on net assets was 2.26%, down 0.68% year-on-year[9] - Total operating revenue for Q3 2018 was CNY 230,684,140.62, an increase of 12.2% compared to CNY 205,533,487.98 in the same period last year[53] - Total operating costs for Q3 2018 were CNY 172,816,457.25, up from CNY 141,034,626.77, reflecting a year-on-year increase of 22.6%[53] - The company's total revenue for the year-to-date period was ¥687,268,773.07, an increase from ¥571,858,440.71 in the prior year, marking a growth of about 20.2%[61] - Net profit for Q3 2018 reached CNY 159,096,372.22, up 5.4% from CNY 151,069,820.98 in Q3 2017[64] - Basic earnings per share for Q3 2018 were CNY 0.2218, compared to CNY 0.2119 in the previous year, reflecting a growth of 4.5%[64] Assets and Liabilities - Total assets increased by 19.65% to CNY 3,223,967,910.19 compared to the end of the previous year[9] - The company's total assets reached CNY 3,223,967,910.19, compared to CNY 2,694,519,902.52 at the beginning of the year, marking a growth of 19.6%[48] - Non-current liabilities increased to CNY 469,923,450.40 from CNY 223,408,354.26, representing a significant rise of 110.8%[48] - The total liabilities of the company amounted to CNY 1,025,534,772.45, compared to CNY 652,882,799.25, an increase of 56.9%[48] - The company's cash and cash equivalents decreased to CNY 73,504,521.62 from CNY 82,433,839.08, a decline of 10.5%[50] - Accounts receivable rose to CNY 140,818,628.02, up from CNY 88,580,051.14, indicating a growth of 58.9%[50] - The company's goodwill increased to CNY 1,503,559,320.81 from CNY 1,007,651,040.53, reflecting a growth of 49.2%[48] - The company's retained earnings rose to CNY 703,757,891.45 from CNY 566,247,375.75, an increase of 24.3%[48] Cash Flow - Cash flow from operating activities for the year-to-date increased by 228.14% to CNY 47,709,154.61[9] - The net cash flow from operating activities was CNY 47.71 million, an increase of CNY 84.94 million year-on-year, driven by expanded sales scale and increased collections[28] - The net cash flow from financing activities was CNY 270.63 million, an increase of CNY 240.64 million year-on-year, mainly due to increased bank acquisition loans[29] - The net cash flow from operating activities was 41,900,598.61, an increase from 17,377,747.43 in the previous period, reflecting a growth of approximately 141.5%[73] - Total cash inflow from investment activities amounted to 463,662,374.33, significantly higher than 55,047,178.08 in the previous period[73] - Cash inflow from financing activities totaled 323,352,000.08, compared to 144,851,523.03 in the previous period, indicating a growth of approximately 123.5%[74] Shareholder Information - The company reported a total of 21,030 common shareholders at the end of the reporting period[13] - The top ten shareholders held a combined 38.50% of the company's shares, with the largest shareholder holding 6.97%[13] Investments and Acquisitions - The company plans to establish a joint venture with TECRES S.P.A. with a total investment of CNY 28 million, holding 51% of the joint venture[30] - The company plans to invest RMB 39 million in its wholly-owned subsidiary, Yisheng Technology (Beijing) Co., Ltd., and acquire 100% equity of Ningbo Shen Ce Sheng Bo Technology Co., Ltd. for the same amount[31] - The company signed an investment agreement to invest RMB 10.41 million in Jiangsu Runzhitai Medical Technology Co., Ltd., acquiring 51% equity after the capital increase[32] - The company plans to invest RMB 20 million in Hubei Ruiter Medical Technology Co., Ltd., also acquiring 51% equity after the capital increase[32] - The company has agreed to transfer its 51% equity in Kellytai Ruiter for RMB 11.25 million, receiving RMB 3 million as part of the equity transfer payment[33] - The company intends to establish a joint venture with China National Pharmaceutical Group, with a registered capital of RMB 50 million, where the company holds 49% equity[33] - The company acquired 100% equity of Elliquence, LLC for USD 77.15 million, with an initial payment of USD 61.55 million made[34] - The company plans to sell 100% equity of Yisheng Technology for a total consideration of RMB 879 million, plus performance-based payments not exceeding RMB 310 million[35] Research and Development - Research and development expenses for Q3 2018 were CNY 10,745,191.72, compared to CNY 8,952,256.51 in the previous year, reflecting a year-on-year increase of 20.0%[53] - The company incurred research and development expenses of CNY 15,507,222.09, slightly up from CNY 15,224,033.43 in the previous year[66] - Research and development expenses for the third quarter amounted to ¥6,546,220.57, up from ¥4,057,950.91 in the same period last year, indicating an increase of approximately 61.2%[58]

Financial Performance - The company reported a half-year revenue of RMB 100 million, representing a 20% increase compared to the same period last year[14]. - The net profit for the first half of 2018 was RMB 15 million, showing a growth of 10% year-on-year[14]. - Total revenue for the reporting period reached ¥456,584,632.45, an increase of 24.64% compared to ¥366,324,952.73 in the same period last year[21]. - Net profit attributable to shareholders was ¥110,991,615.68, reflecting a growth of 16.81% from ¥95,019,859.71 year-over-year[21]. - The net profit after deducting non-recurring gains and losses was ¥96,708,887.07, up 4.61% from ¥92,445,173.15 in the previous year[21]. - The company reported a net cash flow from operating activities of -¥12,371,486.08, an improvement of 75.49% from -¥50,479,900.75 in the same period last year[21]. - Operating revenue of 456.58 million yuan, a year-on-year increase of 24.64%[59]. - Operating profit and total profit were 131.31 million yuan and 132.70 million yuan, respectively, representing increases of 14.37% and 12.65% year-on-year[59]. - The company reported a net profit of 110.27 million yuan after excluding the impact of Yisheng Technology, reflecting a growth of 33.98% year-on-year[61]. User and Market Growth - User data indicates an increase in the number of active users by 30% compared to the previous year, reaching 50,000 users[14]. - Future outlook includes an expansion strategy targeting the Southeast Asian market, aiming for a 15% market share by 2020[14]. - The domestic medical device industry has an average growth rate of approximately 25%, significantly higher than the national economic growth rate, indicating a broad market outlook[36]. - The company aims to increase its market share in the orthopedic device sector, targeting a growth rate of 15% annually over the next five years[50][51]. - User data indicates a growing demand for minimally invasive surgical solutions, with a 30% increase in procedures utilizing the company's products[50][51]. Product Development and Innovation - The company plans to launch two new products in the next quarter, focusing on minimally invasive surgical technologies[14]. - The company has allocated RMB 5 million for research and development of new medical technologies in the upcoming year[14]. - The company is focusing on the development of minimally invasive orthopedic products, particularly in the field of sports medicine[29]. - The company has developed a strong research and development capability, transitioning from a single product manufacturer to a professional producer of high-value medical consumables across multiple medical fields[43]. - The company has introduced multiple new medical devices, including the "Hollow Bone Screws" and "Locking Bone Plates," with regulatory approvals received in 2021 and 2022[50][51]. - The company has introduced four new registered products during the reporting period, maintaining a total of 51 medical device registration certificates[48]. - The company is committed to enhancing its R&D capabilities, with a budget allocation of 10% of annual revenue towards innovation and product development[50][51]. Strategic Partnerships and Acquisitions - A strategic partnership is being formed with a leading healthcare provider to enhance distribution channels[14]. - The acquisition of Elliquence, LLC was completed, enhancing the company's capabilities in surgical energy platforms and high-value consumables[30][31]. - The company has established a joint venture with China National Pharmaceutical Group to create a regional medical device distribution platform, enhancing its market presence[34]. - The company completed the acquisition of 100% equity in Elliquence, LLC for approximately 77.15 million USD, expanding its product line into surgical energy platforms and high-value consumables[42]. - The company plans to invest approximately $77.15 million (around ¥495 million) for the acquisition of 100% equity in Elliquence, LLC, with ¥205.58 million sourced from raised funds[105]. Financial Management and Investments - The company has made significant equity investments totaling CNY 15,610,000.00 during the reporting period, with a focus on medical device production and sales[95]. - The company has committed to various investment projects with a total promised investment amount, including adjustments, yet to be fully realized[107]. - The company has ensured that all disclosed information regarding the use of raised funds is timely, truthful, accurate, and complete[110]. - The company reported a total investment commitment of 64,804.9 million CNY for various projects, with a significant focus on expanding production capabilities and R&D[108]. - The company has completed the construction of its Qingpu plant, which is expected to enhance synergies with the acquisition of Edier Medical Technology[109]. Human Resources and Management - The company has built a cross-disciplinary human resources team through continuous talent acquisition, enhancing its core competitiveness in the industry[46]. - A significant investment in human resources has been made, particularly in the sports medicine sector, enhancing the company's core competitiveness[68]. - The company is focused on human resource management to retain core technical talents, ensuring stability in its workforce[139]. Regulatory Compliance and Challenges - The company is committed to adhering to national food and drug administration regulations in its new medical device applications[52]. - The company faces challenges from regulatory policies such as price reduction in medical devices and stricter quality control requirements from the National Medical Products Administration[143]. - The company has implemented a comprehensive product quality control system to mitigate product liability risks, with no reported claims or legal issues to date[138]. Stock Options and Shareholder Information - The company implemented an employee stock option incentive plan, granting 5.634 million stock options at an exercise price of 29.64 RMB[157]. - The number of stock options granted was adjusted from 5.634 million to 5.554 million due to changes in the number of eligible participants[158]. - The company distributed a cash dividend of 0.90 RMB per 10 shares and conducted a capital reserve conversion of 10 shares for every 10 shares held[158]. - The total number of shares increased to 718,443,292 due to the exercise of stock options, with 2,593,946 shares exercised during the second quarter[194]. - The company had a total of 21,020 common stock shareholders at the end of the reporting period[200].

Financial Performance - The company reported a profit distribution plan to distribute a cash dividend of 0.3 RMB per 10 shares to all shareholders, based on a total of 715,850,773 shares[7]. - The company's operating revenue for 2017 was ¥802,266,759.21, representing a 45.71% increase compared to ¥550,596,649.69 in 2016[16]. - The net profit attributable to shareholders for 2017 was ¥194,981,405.19, a 22.75% increase from ¥158,840,872.13 in 2016[16]. - The net profit excluding non-recurring gains and losses was ¥182,119,111.84, up 23.54% from ¥147,411,918.01 in 2016[17]. - The basic earnings per share for 2017 was ¥0.2727, a 19.24% increase from ¥0.2287 in 2016[17]. - The total assets at the end of 2017 were ¥2,694,519,902.52, a 21.54% increase from ¥2,216,925,948.39 at the end of 2016[17]. - The company achieved total operating revenue of 802.27 million yuan, an increase of 45.71% compared to the same period last year[55]. - Operating profit and total profit were 231.82 million yuan and 232.55 million yuan, representing growth of 28.47% and 20.04% year-on-year, respectively[55]. - Net profit attributable to ordinary shareholders was 194.98 million yuan, up 22.75% year-on-year, while the net profit after deducting non-recurring gains and losses was 182.12 million yuan, an increase of 23.54%[55]. Risk Management and Compliance - The company emphasizes that all board members attended the meeting to review the annual report, ensuring accountability for the report's accuracy and completeness[5]. - The company is subject to special industry disclosure requirements as a medical device manufacturer, indicating compliance with regulatory standards[6]. - The company has outlined potential risks and countermeasures in its future development outlook, highlighting the importance of risk management[6]. - The company’s financial report is guaranteed to be true, accurate, and complete by its responsible personnel, including the CEO and accounting head[5]. - The company is actively pursuing regulatory changes to adapt its production addresses and product registrations, reflecting its commitment to compliance and operational efficiency[49]. - The company is adapting to regulatory changes and enhancing its quality control systems to meet new government policies in the medical device sector[163]. Product Development and Innovation - The company operates in the high-tech medical sector, focusing on minimally invasive surgical technologies and products[10]. - The company has registered medical devices including arthroscopic threaded cannulas and medical cold light sources, which are essential for joint surgery[31]. - The company is committed to enhancing its innovation capabilities and developing high-quality products to improve the overall technological development level of the industry[36]. - The company is focusing on expanding its market presence through the development of advanced surgical tools and technologies, which are expected to drive future growth[48]. - The company has introduced a series of new medical devices, including the KMC bone drill and KMC hydraulic bone cement delivery system, aimed at enhancing minimally invasive orthopedic surgeries[47]. - The company is currently applying for 28 medical device product registrations, including spinal anterior fixation systems and metal locking plates[50]. - The company plans to strengthen its research and development focus on minimally invasive surgical products in orthopedics and sports medicine to maintain a competitive edge in the market[59]. - The company has obtained registration for several new orthopedic products, expanding its product line into various sub-markets within the orthopedic medical device sector[151]. Acquisitions and Partnerships - The company successfully acquired Aideer, optimizing and integrating product lines and sales channels in the orthopedic sector[30]. - The company established a joint venture with TECRES S.P.A to introduce advanced products and technologies for new product development in the orthopedic field[30]. - The company completed the acquisition of 100% equity in Deep Strategy Victory and obtained 51% stakes in Jiangsu Runzhitai and Hubei Ruitai, enhancing its distribution network and market presence[34]. - The company acquired 100% equity of Yisheng Technology, with a total investment of RMB 1.7 billion for a 27.22% stake and subsequent transactions[130][131]. - The company completed the acquisition of 100% equity in Aideer Medical Technology, with a total investment of RMB 1.1 billion, following a series of share issuances and cash payments[136]. - The acquisition of Jiangsu Aideer significantly shortens the registration process for the company's orthopedic implants, expected to boost sales and market share[150]. Financial Management and Investments - The company has engaged Da Hua Accounting Firm for auditing services, ensuring professional oversight of its financial reporting[15]. - The company’s financial advisor during the reporting period was Guojin Securities, indicating ongoing financial support and guidance[15]. - The company has made significant equity investments, including CNY 39,000,000 in Ningbo Meishan Free Trade Port Area[110]. - The company reported a total fundraising amount of 803.50 million yuan, with 61.94 million yuan utilized during the reporting period, representing 10.50% of the total funds raised[115]. - The company has committed to invest 88.85 million yuan in the production technology transformation and expansion project for the vertebroplasty balloon surgical system, with 53.70 million yuan already invested, achieving a progress rate of 109.87%[120]. - The company has raised a total of 31.43 million yuan through non-public offerings, with 21.62 million yuan used to supplement working capital[118]. Market Trends and Industry Analysis - The domestic medical device industry is growing at an average rate of approximately 25%, driven by national policies and increased investment in grassroots healthcare systems[36]. - The medical device industry is experiencing accelerated consolidation, with multinational companies expanding in China and domestic firms leveraging capital to broaden their product lines[37]. - The revised Medical Device Supervision and Administration Regulations are expected to eliminate non-compliant small enterprises, further promoting industry consolidation[38]. - The medical device industry is facing both opportunities and challenges due to ongoing healthcare reforms and policies, which aim to improve the quality and competitiveness of the sector[143]. Shareholder and Dividend Policies - The company plans to distribute cash dividends of RMB 0.30 per 10 shares, totaling RMB 21,475,523.19, based on a total share capital of 715,850,773 shares for the 2017 fiscal year[174]. - The net profit attributable to shareholders for the fiscal year 2017 was RMB 192,356,405.19, with a profit distribution ratio of 11.01% for cash dividends[181]. - The company has a policy of distributing at least 10% of the annual distributable profit as cash dividends, emphasizing a stable profit distribution policy[170]. - The company has consistently maintained a cash dividend distribution policy, with cash dividends constituting 100% of the profit distribution in the latest fiscal year[174]. - The company’s cash dividend distribution plan for 2017 is subject to approval at the 2018 annual general meeting[176]. Corporate Governance and Management - The company’s independent directors have fulfilled their responsibilities in the decision-making process regarding the cash dividend policy[172]. - The company has established long-term stable partnerships with over 1,000 distributors in the orthopedic and cardiovascular fields, covering more than 2,000 hospitals[43]. - The company has implemented a reasonable employee compensation plan to retain core technical personnel, ensuring stability in its technical team[160]. - Management plans to strengthen internal controls and management systems across subsidiaries to improve operational efficiency[154].

上海凯利泰医疗科技股份有限公司 2018 年第一季度报告 上海凯利泰医疗科技股份有限公司 二○一八年第一季度报告 证券代码：300326 股票简称：凯利泰 披露日期：二○一八年四月二十四日 1 上海凯利泰医疗科技股份有限公司 2018 年第一季度报告 第一节 重要提示 1、公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真实、准确、完整，不存在虚假记载、误导性陈 述或者重大遗漏，并承担个别和连带的法律责任。 2、所有董事均已出席了审议本次季报的董事会会议。 3、公司负责人 JAY QIN (秦杰）、主管会计工作负责人李元平及会计机构负责人(会计主管人员)李元平声明：保证季度报告 中财务报表的真实、准确、完整。 4、公司第一季度财务报告未经会计师事务所审计。 非标准审计意见提示 □ 适用 √ 不适用 2 上海凯利泰医疗科技股份有限公司 2018 年第一季度报告 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | | --- | --- | --- | --- | --- | ...