Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 761.8 million, an increase of 14.4% from RMB 665.6 million in 2023[4]. - The company's net profit for the fiscal year was RMB 248.9 million, representing an 84.9% increase compared to RMB 134.6 million in the previous year[4]. - Adjusted net profit, according to non-HKFRS, was RMB 281.7 million, up 44.2% from RMB 195.4 million in 2023[5]. - The company achieved a revenue of RMB 761.8 million in 2024, representing a 14.4% increase compared to the previous year[13]. - Net profit reached RMB 248.9 million, showing a strong growth of 84.9% year-on-year, while adjusted net profit was RMB 281.7 million, up 44.2%[13]. - Revenue for the year ended December 31, 2024, increased to RMB 761,762 thousand, up 14.4% from RMB 665,624 thousand in 2023[71]. - Gross profit rose to RMB 555,927 thousand, representing a gross margin of 73% compared to 76.8% in the previous year[71]. - Operating profit significantly improved to RMB 326,821 thousand, a 48.7% increase from RMB 219,822 thousand in 2023[71]. - Basic and diluted earnings per share increased to RMB 0.44, compared to RMB 0.25 in the previous year[71]. - Other net income for 2024 was RMB 56,580,000, a significant increase of 41.1% compared to RMB 40,035,000 in 2023, driven by government grants and fair value changes in financial assets[86]. - Pre-tax profit for 2024 was RMB 302,733,000, a substantial increase of 86.7% from RMB 162,051,000 in 2023[94]. - Income tax expenses surged by 96.1% to RMB 53.9 million in FY2024, driven by an increase in pre-tax operating profit[118]. Market Expansion and Product Development - The significant revenue growth was driven by a 137.6% increase in overseas business and a notable rise in market share for atherosclerosis products[4]. - The company expanded its sales channels by adding approximately 450 hospitals, bringing the total coverage to around 3,400 hospitals, including over 2,000 tertiary hospitals[15]. - The NUMEN® coil entered approximately 520 new hospitals, totaling clinical applications in nearly 1,450 hospitals[16]. - The Bridge® vertebral artery drug-eluting stent entered about 380 new hospitals, covering approximately 1,500 hospitals in total[17]. - The APOLLO™ intracranial stent system expanded its market presence by entering nearly 190 new hospitals, now covering about 2,340 hospitals[18]. - The Neurohawk® thrombectomy stent entered over 230 new hospitals, totaling around 520 hospitals[18]. - The company has established partnerships with over 400 distributors, ensuring nationwide coverage across 31 provinces, municipalities, and autonomous regions[14]. - The company's international business achieved significant progress, with overseas revenue reaching RMB 75.3 million, a year-on-year increase of 137.6%[21]. - The company has successfully commercialized 8 products in 30 overseas countries, including significant markets in the APAC, NA, LATAM, and EMEA regions[21]. - The company is expanding its market presence with new product launches and regulatory approvals across various countries, including Mexico and Japan[27]. - The company is focused on developing innovative technologies in neurovascular devices, enhancing its product portfolio[27]. Research and Development - The company has a research and development team of 124 members, with over 60% holding doctoral or master's degrees, focusing on innovative solutions for clinical needs[64]. - Research and development costs decreased to RMB 96,482 thousand from RMB 165,133 thousand, reflecting a strategic focus on cost management[71]. - Research and development expenses decreased to RMB 150,523,000 in 2024 from RMB 199,665,000 in 2023, reflecting a reduction of 24.6%[91]. - The company plans to continue leveraging its R&D capabilities to enhance product offerings and expand into new markets, supported by favorable tax incentives for high-tech enterprises[93]. Regulatory Approvals and Compliance - The company received regulatory approvals in Argentina and Brazil for its products, with expected NMPA approval in 2024[27]. - The company is actively pursuing clinical trials and design validations for new products, ensuring compliance with regulatory standards[27]. - The company is committed to compliance with the standards set by the Hong Kong Stock Exchange[158]. - The financial results will be prepared in accordance with Hong Kong Financial Reporting Standards[158]. Dividends and Shareholder Returns - The company plans to distribute a final dividend of HKD 0.11 per ordinary share for the fiscal year 2024[5]. - The company declared a mid-term dividend of RMB 42.5 million and a final dividend of RMB 59.1 million for FY2024, maintaining the same per-share amount as FY2023[106]. Corporate Governance - The company has complied with all applicable corporate governance codes during the reporting period[147]. - The board of directors includes both executive and non-executive members, ensuring a diverse governance structure[160]. - The board of directors includes independent non-executive directors to enhance oversight and accountability[160].
微创脑科学(02172) - 2024 - 年度业绩