Shanghai Sanyou Medical (SH:688085)2025-01-20 08:50Revenue and Profit Forecast - The company expects 2024 annual revenue to be between 445 million and 460 million CNY, a decrease of 0.09% to 3.34% compared to the previous year[3]. - The projected net profit attributable to the parent company for 2024 is expected to be between 8 million and 12 million CNY, representing a decline of 87.45% to 91.63% year-on-year[3]. - The net profit attributable to the parent company after deducting non-recurring gains and losses is expected to be between -7.5 million and -3.75 million CNY, indicating a decrease of 106.33% to 112.65% compared to the previous year[3]. - In 2023, the company achieved a revenue of 460.39 million CNY and a net profit of 95.58 million CNY[5][6]. Factors Affecting Performance - The decline in revenue and net profit is primarily due to significant price reductions in spinal products following the implementation of national bulk procurement policies[7]. - The company recognized asset impairment losses on inventory, impacting the net profit by approximately 15 million CNY in 2024[7]. Implanet SA Performance - Implanet SA, which was included in the consolidated financial statements starting February 2024, generated revenue of 940.60 million EUR in 2024, a year-on-year increase of 26.29%[7]. - Implanet SA's revenue in the U.S. reached 257.00 million EUR in 2024, up 86.34% from 137.90 million EUR in 2023[7]. - The international business expansion is still in its early stages, with an estimated negative impact of approximately 24 million CNY on the company's net profit due to Implanet SA's losses[7]. Audit and Reporting - The performance forecast has not been audited by external accountants and is subject to change based on the final annual report[4][9].