Core Viewpoint - Shanghai Xinwei Medical Technology Co., Ltd. has achieved a significant milestone in 2024 by reaching a breakeven point, enhancing investor confidence and positioning itself for future profitability [1][2]. Financial Performance - For the year ending December 31, 2024, the company reported revenue of 277.9 million yuan, a year-on-year increase of 19.6%, and a gross profit of 181.7 million yuan, up 11% [2]. - The pre-tax loss narrowed significantly to 12 million yuan, a reduction of 88.3% compared to the previous year, indicating a clear path towards profitability [2]. - The company's cost management efforts led to a decrease in sales and management expense ratio to 49.6%, down 16.6 percentage points year-on-year [2]. Strategic Focus - The company is concentrating on two main strategies: deepening its core business in neurointervention and accelerating overseas market expansion [3]. - In the neurointervention sector, the company has shifted resources towards differentiated therapeutic devices, achieving a 45.5% sales growth in acute ischemic stroke treatment devices and over 100% growth in hemorrhagic stroke treatment devices [3][4]. - The implementation of national centralized procurement policies has facilitated the penetration of the company's products into over 2,500 hospitals, with an active implantation hospital rate exceeding 80% [3]. Overseas Expansion - The company achieved overseas revenue of 8.395 million yuan in 2024, a staggering growth of 684% year-on-year, with Taiwan and India being the primary contributors [4]. - The company has obtained CE or FDA certifications for several key products, enabling entry into international markets, and plans to register products in over 30 countries within the next two years [4][12]. R&D and Innovation - Xinwei Medical is recognized as a leader in the neurointervention medical device sector, with a comprehensive product pipeline covering prevention and treatment of various neurological conditions [6]. - The company has received approvals for 31 medical devices from NMPA, 3 from FDA, and 1 from CE, showcasing its strong R&D capabilities [6]. - Recent product launches include innovative devices that fill gaps in the domestic market, enhancing the company's competitive edge [7]. Market Trends and Future Outlook - The aging population and increasing demand for rehabilitation technologies are expected to drive growth in the neurointervention sector [7]. - The brain-computer interface industry is projected to grow significantly, with a forecasted market size of $1.98 billion in 2023, reaching over $6 billion by 2028 [8]. - The company aims for an annual revenue growth of approximately 35% and a stable profit margin of 15%-20% once sales exceed 500 million yuan [9].
业绩会直击|心玮医疗-B (06609.HK)：海外收入增速超6倍，迈入盈亏平衡新阶段