Financial Performance - The company's revenue for the year ended December 31, 2024, was approximately RMB 851.95 million, an increase of about 13.17% compared to RMB 752.84 million for the year ended December 31, 2023[3]. - Gross profit for the reporting period was approximately RMB 537.66 million, with a gross margin increase from approximately 58.19% to about 63.11% compared to the previous year[5]. - Net profit for the year was approximately RMB 190.05 million, representing a growth of about 24.03% from RMB 153.23 million in the prior year[5]. - Basic and diluted earnings per share were both approximately RMB 1.10, an increase of about 19.57% from RMB 0.92 in the previous year[5]. - Revenue from the sale of medical devices was approximately RMB 773.33 million, up about 15.23% from RMB 671.10 million for the year ended December 31, 2023[5]. - The company reported a total comprehensive income of approximately RMB 190.83 million for the year, compared to RMB 153.69 million in the previous year[10]. - The company's total revenue primarily comes from the sale of medical devices, with specific return policies in place[20]. - Revenue from cardiovascular devices was RMB 662,220 thousand in 2024, up 8.9% from RMB 608,231 thousand in 2023[24]. - Revenue from neuro and peripheral devices surged to RMB 108,018 thousand, a significant increase of 81.0% compared to RMB 59,721 thousand in 2023[24]. - The external customer revenue from the heart intervention business was RMB 736,802 thousand in 2024, compared to RMB 625,952 thousand in 2023, reflecting a growth of 17.7%[31]. Expenses and Costs - Research and development expenses for the year were approximately RMB 149.13 million, compared to RMB 125.85 million in the previous year[7]. - The company's total operating expenses increased to RMB 269,865 thousand in 2024, up from RMB 231,934 thousand in 2023, marking a rise of 16.4%[38]. - Distribution costs increased by approximately 17.79% to RMB 79.39 million, accounting for about 9.32% of total revenue, compared to 8.95% for the year ended December 31, 2023[99]. - Administrative expenses rose by approximately 21.54% to RMB 120.84 million, primarily due to increased employee costs, depreciation, and amortization[100]. - The total employee cost for the reporting period was approximately RMB 269.87 million, an increase from RMB 231.93 million in the previous year[111]. Assets and Liabilities - Non-current assets increased to RMB 1,175,027 thousand in 2024 from RMB 1,078,218 thousand in 2023, representing an increase of 8.99%[12]. - Current assets rose to RMB 892,133 thousand in 2024, up from RMB 724,289 thousand in 2023, marking a growth of 23.19%[12]. - Total liabilities increased to RMB 434,456 thousand in 2024 from RMB 316,829 thousand in 2023, reflecting a rise of 37.06%[12]. - Net assets grew to RMB 1,786,492 thousand in 2024, compared to RMB 1,678,378 thousand in 2023, an increase of 6.44%[13]. - The company's cash and cash equivalents increased to RMB 521,954 thousand in 2024 from RMB 423,668 thousand in 2023, a growth of 23.19%[12]. - Trade and other receivables rose to RMB 118,881 thousand in 2024, up from RMB 125,193 thousand in 2023, indicating a decrease of 5.06%[12]. - The company's equity attributable to shareholders increased to RMB 1,774,227 thousand in 2024 from RMB 1,649,241 thousand in 2023, a rise of 7.58%[13]. - The company reported a trade and other receivables impairment loss of RMB (625,000) in 2024, contrasting with a gain of RMB 407,000 in 2023[41]. - Trade payables increased from RMB 32,854,000 in 2023 to RMB 44,229,000 in 2024, reflecting a rise of approximately 34.7%[60]. Research and Development - Research and development expenses for the year were approximately RMB 189.93 million, an increase of 5.92% compared to RMB 179.31 million for the year ended December 31, 2023[101]. - The R&D team consists of professionals with doctoral and master's degrees, and the company holds 406 registered patents and 215 pending patent applications[75]. - The company aims to expand its product pipeline and increase R&D investment to accelerate core product development and new product certification[90]. Corporate Governance and Compliance - The company has adopted the standard code of conduct for securities trading by directors and supervisors, confirming compliance during the reporting period[133]. - The company has adhered to all provisions of the corporate governance code, except for the separation of roles between the Chairman and CEO, which is currently held by Dr. Liang Dongke[135]. - The Audit Committee, consisting of three members, has reviewed the audited consolidated annual results and confirmed compliance with applicable accounting principles and sufficient disclosure[136]. - The preliminary financial figures for the year ending December 31, 2024, have been verified by KPMG, confirming consistency with the audited financial statements[138]. Future Plans and Strategies - The company plans to continue expanding its product offerings and market presence, particularly in the heart intervention and neuro intervention sectors[28]. - The company plans to utilize approximately RMB 110.00 million for the construction of a new factory in Zhuhai and RMB 156.33 million for the Shandong Yingtai Innovative Medical Device Industrial Park project[109]. - The company plans to issue 5,000,000 shares at a price of RMB 12.00 per share under the restricted share plan, with RMB 5 million allocated to share capital and RMB 55 million to capital reserves[64]. - The company has entered into a sales framework agreement with Kangdelai for the period from 2025 to 2027, with an annual transaction amount not exceeding RMB 20 million[87]. - The establishment of joint ventures, including Shanghai Yingtai Asset Management and Shanghai Yingtai Shenghuo Trading, is expected to enhance the company's asset management and sales capabilities in cosmetics and healthcare products[88][89]. Shareholder Information - The company’s major shareholder, Kang De Lai, holds approximately 24.35% of the company's shares, qualifying as a related party under listing rules[86]. - The company has repurchased 800,000 H-shares at a maximum price of HKD 26.00 per share, totaling approximately RMB 18.92 million[65]. - The company agreed to repurchase approximately 5.0% equity in a non-wholly owned subsidiary for a total price of RMB 60,081,753.42, increasing its ownership to approximately 61.36%[80]. - The company issued 5,000,000 new domestic shares under the 2023 equity incentive plan, increasing the total number of shares to 176,000,000[83]. Employee and Workforce - The group employed 1,735 employees as of December 31, 2024, an increase from 1,567 employees as of December 31, 2023[111].
康德莱医械(01501) - 2024 - 年度业绩