Meihua International Medical(US:MHUA)2025-04-25 10:36Financial Performance - Revenues for the fiscal year 2024 decreased slightly to $96.91 million from approximately $97.10 million in 2023, a change of (0.2)%[4] - Gross profit for 2024 was approximately $33.30 million, reflecting a slight increase of 0.3% year-over-year, with a consistent gross margin of 34%[4][9] - Income from operations decreased by approximately $0.36 million, or 2.5%, to $14.31 million for the year ended December 31, 2024[16] - Net income attributable to shareholders decreased by approximately $0.75 million, or 7%, to $10.84 million for the fiscal year 2024[18] Expenses - Research and development expenses increased by approximately $0.70 million, or 26%, to $3.46 million for the year ended December 31, 2024[14] - Selling expenses decreased by approximately $0.66 million, or 9%, to $6.64 million for the year ended December 31, 2024[11] - General and administrative expenses increased by approximately $1.24 million, or 19%, to $7.78 million for the year ended December 31, 2024[13] Strategic Initiatives - The company completed the sale of its controlling equity stake in Hainan Guoxie, reallocating capital towards higher-growth opportunities[5] - The company launched an AI-powered warehouse management platform in May 2024, enhancing supply chain efficiency[6] - The integrated medical industrial park in Boao Hope City is expected to be completed by mid-2025, supporting the company's long-term strategy[5]