Core Insights - Meihao Medical achieved operating revenue of 1.594 billion yuan in 2024, representing a year-on-year growth of 19.19%, and a net profit of 364 million yuan, up 16.11% year-on-year [1] - The company plans to distribute 1 yuan per 10 shares to all shareholders and to increase capital by converting 4 shares for every 10 shares held [1] Company Performance - Meihao Medical is a leading player in the global home respiratory machine and cochlear implant CDMO market [1] - Revenue from home respiratory machine components grew by 25.58% year-on-year, while revenue from cochlear implant components increased by 18.74% [1] - Revenue from other medical product components rose by 21.08% year-on-year [1] Business Diversification - In 2024, the company expanded its business into blood glucose management, cardiovascular, and in vitro diagnostics [1] - The insulin injection pen project has entered large-scale production, with core R&D for the "Meihao Pen" nearly completed, and CGM component products are in the delivery preparation phase [1] - Multiple cross-departmental teams have been established in the cardiovascular field, achieving breakthroughs in various product technology directions [1] - The company has accumulated several R&D achievements in the in vitro diagnostics field, with multiple client products undergoing small batch delivery verification [1] R&D Investment - R&D expenses reached approximately 141 million yuan, an increase of 16.75% year-on-year, accounting for 8.82% of operating revenue [1] Market Outlook - The global medical device industry is experiencing steady growth, with a market size of approximately 640.5 billion USD in 2024, expected to grow at a compound annual growth rate of 6% post-2025, reaching 1,147 billion USD by 2034 [1] Future Goals - Meihao Medical aims to become a leading global medical technology CDMO service provider, focusing on medical technology innovation and creating a customer-centric global organization to provide one-stop services for leading companies in niche medical device markets [1]
美好医疗：24 年业绩亮眼 未来规划宏大