Shanghai Sanyou Medical (SH:688085)2025-02-27 11:55Financial Performance - Total revenue for 2024 was CNY 452.64 million, a decrease of 1.68% compared to CNY 460.39 million in the previous year[3] - Operating profit fell to CNY 14.75 million, down 87.75% from CNY 120.43 million year-on-year[3] - Net profit attributable to the parent company was CNY 11.30 million, a decline of 88.18% from CNY 95.58 million in the prior year[3] - The company reported a net profit of CNY -3.99 million after excluding non-recurring gains and losses, a decrease of 106.74% year-on-year[3] Research and Development - R&D expenses increased by 28.98% to CNY 84.12 million, representing 18.58% of total revenue, up 4.41 percentage points from the previous year[5] Assets and Growth - Total assets at the end of the reporting period were CNY 2.30 billion, an increase of 1.75% from CNY 2.26 billion at the beginning of the period[4] - The company achieved over 30% growth in shipment volume, despite significant revenue decline due to price reductions in spinal products[7] Market Expansion - Implanet SA, acquired in February 2024, generated revenue of EUR 940.58 million, a 26.29% increase year-on-year, contributing to the company's international expansion efforts[9] - The company is actively expanding its market share in the domestic spinal business while promoting the ultrasonic power system products of its subsidiary, with a 70% increase in sales volume[7] - The company has initiated a project to acquire remaining minority shareholder interests, with asset transfer expected to complete by February 2025[7]