三友医疗公布股份回购计划，最高金额1.8亿元用于员工激励

回购计划主要内容

上海三友医疗器械股份有限公司（证券代码：688085）于2026年7月27日发布公告，正式披露以集中竞价交易方式回购股份的详细方案。

• 回购资金总额：不低于人民币9,000万元（含），不超过18,000万元（含）。
• 资金来源：公司自有资金及股票回购专项贷款。公司已取得上海浦东发展银行嘉定支行的《贷款承诺函》，承诺为公司回购提供专项贷款。
• 回购股份用途：未来适时用于股权激励或员工持股计划。若三年内未使用完毕，剩余股份将注销。
• 回购价格上限：不超过18.90元/股，不高于董事会通过回购决议前30个交易日均价的150%。
• 回购方式：上海证券交易所集中竞价方式。
• 回购期限：董事会通过方案之日起6个月内。
• 回购股份数量：以当前股本3.67亿股计，按上限测算约回购476.19万至952.38万股，占总股本1.30%-2.60%。
• 回购专用账户：B888637478。

对股东和股价的潜在影响

• 回购股份主要用于未来员工持股计划或股权激励，若政策调整，则按调整后政策执行。
• 本次回购不会导致公司控制权变更，亦不会影响公司上市地位。
• 回购资金占公司2026年3月31日（未经审计）总资产的7.65%，归母净资产的8.49%，流动资产的15.78%。公司自评不会影响偿债和持续经营能力。
• 若三年内未全部授出股份，未授出部分将被注销并减少注册资本。
• 若未来发生资本公积转增股本、派送红利、股票拆细等事项，将相应调整回购价格上限及数量。
• 实际控制人、董事高管及持股5%以上的股东在未来3/6个月暂无减持计划，若有调整将及时披露。

重要风险提示

1. 回购期间公司股价如持续高于回购上限，可能导致回购无法实施。
2. 若资金筹措不到位，或经营环境变化，回购或因故终止或变更。
3. 如员工持股或激励方案未获董事会/股东会通过，或激励对象放弃认购，回购股份可能无法全部授出并被注销。
4. 政策法规如有调整，回购条款需作相应调整。

董事和高管近期股份变动情况

• 实际控制人刘明岩于2026年2-3月通过大宗交易减持445.7万股，占总股本1.34%；无内幕交易与市场操纵行为。
• 徐农一致行动人“混沌天成18号”于同期减持221.2万股，占0.66%。
• 董事任崇俊于2026年7月2日增持20万股，占0.05%。
• 除上述外，其余董事、高管、实际控制人在决议前6个月无买卖行为，也无利益冲突或内幕交易。

后续安排

• 公司已开立专用证券账户，专用于本次回购。
• 董事会已授权管理层全权办理回购相关事宜，含择机回购、调整方案、处理后续股份转让或注销等。
• 公司将在回购实施过程中持续履行信息披露义务，投资者需关注相关风险和公告。

总结

本次股份回购计划显示公司对未来持续发展的信心和对当前估值的认可，旨在提升员工积极性并增强投资者信心。大额回购、明确用途及董事高管无减持计划，均属重要利好，或对公司股价产生积极影响。投资者需关注回购进展、政策变化及市场环境对实施效果的影响。

免责声明：本文基于公司公告整理，仅供投资者参考，不构成任何投资建议。投资者据此操作，风险自担。

英文版：

Sanyou Medical Announces Major Share Buyback Plan up to RMB 180 Million for Employee Incentives

Key Points of the Buyback Plan

Shanghai Sanyou Medical Co., Ltd. (Stock code: 688085) announced on July 27, 2026, its detailed plan to repurchase shares via centralized bidding on the Shanghai Stock Exchange.

• Total Buyback Amount: Not less than RMB 90 million (inclusive) and not more than RMB 180 million (inclusive).
• Funding Source: Company’s own funds and a dedicated share buyback loan. The company has obtained a “Loan Commitment Letter” from SPD Bank Jiading Branch, promising a special loan for the buyback.
• Purpose of Buyback: To be used for future employee stock ownership plans or equity incentives. If not used within three years, the unused shares will be cancelled.
• Buyback Price Cap: No more than RMB 18.90/share, which is not higher than 150% of the average trading price for the 30 trading days prior to the board resolution.
• Buyback Method: Centralized bidding via the Shanghai Stock Exchange.
• Buyback Period: Within 6 months from the date of board approval.
• Number of Shares to Buy Back: Based on the current 366.8 million shares, the plan is to buy back approximately 4.76 million to 9.52 million shares, accounting for 1.30% to 2.60% of the total share capital.
• Special Account for Buyback: B888637478.

Potential Impact on Shareholders and Share Price

• The buyback shares are mainly for future employee stock ownership or incentives; policy changes will be followed if any.
• This buyback will not affect company control or listing status.
• Buyback funds represent 7.65% of total assets, 8.49% of equity attributable to shareholders, and 15.78% of current assets (as of March 31, 2026, unaudited). The company believes this will not impact solvency or ongoing operations.
• If not fully granted to employees within 3 years, unused shares will be cancelled and registered capital reduced.
• If corporate actions such as stock splits, dividends, etc., occur, the buyback price cap and number of shares will be adjusted accordingly.
• Controlling shareholders, directors, senior management, and holders of 5%+ shares have no reduction plans for the next 3/6 months; any changes will be promptly disclosed.

Key Risk Warnings

1. If the share price remains above the buyback price cap during the period, the buyback may fail.
2. If funds are not secured due to external or business factors, the buyback may be terminated or changed.
3. If the employee incentive plan is not approved or employees decline participation, not all shares may be granted and some may be cancelled.
4. If regulations change, buyback terms may be adjusted.

Recent Share Transactions by Directors and Executives

• Controlling shareholder Mingyan Liu sold 4.46 million shares (1.34% of total) via block trades in Feb-Mar 2026; no insider trading or market manipulation.
• Xunong’s concerted actor “Chaos Tiancheng 18” sold 2.21 million shares (0.66%) in the same period.
• Director Chongjun Ren bought 200,000 shares (0.05%) on July 2, 2026.
• No other directors, executives, or controllers traded company shares in the 6 months prior to the resolution; no conflicts of interest or insider trading.

Follow-up Arrangements

• The company has opened a dedicated securities account for the buyback.
• The board has fully authorized management to handle the buyback, including timing, price, adjustments, and handling of subsequent transfers or cancellations.
• The company will continue to make timely disclosures during the buyback; investors should pay attention to related risks and announcements.

Summary

This buyback plan demonstrates the company’s confidence in its long-term development and current valuation, aiming to boost employee motivation and investor confidence. The scale, purposes, and absence of reduction plans by key insiders are positive signals that could influence the share price. Investors should monitor the progress, policy changes, and broader market environment.

Disclaimer: This article is based on official company disclosures and is for reference only. It does not constitute investment advice. Investors should make decisions at their own risk.

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