Lanfan Medical Receives Research from 148 Institutions; Performance Expected to Turn Around and Become Profitable by 2026

This week (March 16–March 20), a total of 94 A-share listed companies were surveyed by institutions. From the perspective of profitability, about 20% of the surveyed stocks achieved positive returns, with Shengyuan Environmental (rights protection) rising 17.95% during the week.

Regarding popular survey targets, this week Blue Sail Medical and Hailianxun received surveys from over 100 institutions, while Guangli Technology, Dawei Co., Ltd., Shenkeda, COFCO Technology, Haineng Technology, Xinnuowei, Aidi Te, and others were surveyed by more than 40 institutions.

Blue Sail Medical expects to achieve additional performance this year.
Blue Sail Medical held an investor communication meeting during the week, with 148 institutions participating. During the survey, Blue Sail Medical revealed that the company’s glove business is benefiting from an industry recovery cycle and cost optimization, with a potential turnaround by 2026; its cardiovascular business has achieved substantial profitability, with growth driven by innovative products and global expansion.

In the survey, Blue Sail Medical stated: “By early 2026, before accounting for raw material and glove price increases, the company’s original performance guidance based on raw material and end-product prices estimates that 2026 will see the glove business turn profitable and contribute profit. This guidance considers existing capacity, the consolidation of Zibo Hongda Thermal Power at the end of 2025, and the expected commissioning of Weifang Luyuan Thermal Power in Q2 2026, among other cost optimization factors. Recently, domestic and international glove prices have been gradually rising, and additional performance growth is expected to be reflected in the Q2 reports.”

Blue Sail Medical also disclosed during the survey that overseas revenue accounts for over 60%, with overseas revenue exceeding $100 million in 2025. The company’s strong overseas performance is attributed to its local sales teams in Europe, emerging markets, and Asia-Pacific, each with over 100 staff, as well as a sales network covering more than 100 countries.

Blue Sail Medical’s 2025 earnings forecast shows a loss of 650 million to 850 million yuan. When asked about the reasons for the loss, the company explained that it mainly results from operational losses in the health protection business, compounded by tax payments, fixed asset impairments, and other factors. The cardiovascular division is performing well and has achieved operational profit, but overall profitability is affected by fair value changes in its investment in Tongxin Medical, resulting in a slight profit.

Hailianxun focuses on expanding overseas markets.
This week, Hailianxun was surveyed by 130 institutions. The company has been deeply involved in industrial steam turbines for over 60 years, with products widely used in oil, refining, coal chemical industry, textiles, metallurgy, papermaking, solar thermal power, biomass power, combined heat and power, and large power plant supporting fields. In 2005, the company officially entered the gas turbine business.

Institutions mainly focus on Hailianxun’s overseas expansion. The company stated that overseas markets have been a key focus in recent years. It expands through partnerships with agents and by opening overseas offices, mainly in Central Asia, Southeast Asia, the Middle East, and Africa—countries involved in the Belt and Road Initiative. The business model primarily involves supporting domestic EPC contractors in going abroad, with some projects directly signed with overseas owners, though these account for a small proportion.

Hailianxun indicated that overseas markets are an important direction for its independent gas turbine business expansion, especially in regions with low natural gas prices such as the Middle East, North America, Southeast Asia, and Central Asia, where prospects are broad. The company believes that successful product testing, smooth demonstration projects, and quality assurance and technical support will gradually strengthen customer confidence.

Additionally, the gas turbine business is one of the core directions of Hailianxun’s “14th Five-Year” strategic transformation. Currently, the company is focusing on commercializing 50MW models and will continue to expand its gas turbine product line to meet a wider range of application scenarios.

Guangli Technology’s semiconductor equipment business continues to break through.
This week, Guangli Technology was surveyed by 68 institutions, including leading domestic public funds such as Huaxia Fund, China-Europe Fund, Bank of Communications Schroder Fund, and China Securities Global Fund. The main focus of the survey was on the company’s layout in semiconductors and IoT, as well as capacity planning.

Guangli Technology explained that benefiting from the upward development opportunities in the semiconductor industry and the widespread application of its domestically produced die-cutting equipment in advanced packaging, its domestic semiconductor business has grown rapidly since July 2025. Its IoT business has maintained stable growth over the years, helping customers build smarter mines with better products and services.

In the semiconductor equipment sector, institutions are particularly interested in the progress of laser dicing machine R&D and its substitution logic. Guangli Technology pointed out that laser dicing machines are not a replacement for mechanical dicing machines but are complementary in different processes and scenarios—mechanical dicing remains the mainstream process, while laser dicing is rapidly growing in specific applications due to its technical advantages. The company’s developed laser grooving and laser invisibility machines are now in client validation stages, with plans to accelerate validation to quickly generate sales orders.

Guangli Technology emphasizes that its domestically produced semiconductor mechanical dicing equipment has reached comparable quality and efficiency to top international models, gaining recognition and repeat orders from leading domestic packaging and testing companies. The product lineup currently includes over twenty models, offering various configurations based on customer needs. The 12-inch dual-axis fully automatic wafer dicing machine 8230 is the best-selling standard model; since 2025, the proportion of customized co-developed models has gradually increased.

Regarding capacity planning, Guangli Technology stated that the first phase of the airport port factory is expected to be completed and put into operation in 2026, with the second phase expected to be completed in Q1 2027. To meet customer delivery needs, the company will adopt a “build and operate simultaneously” approach and dynamically adjust capacity expansion based on market demand.