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山外山2024年财报:营收利润双降,研发投入逆势增长

Core Viewpoint - The company reported a significant decline in revenue and profit for 2024, but it continues to invest heavily in R&D, market expansion, and quality management, indicating resilience despite financial challenges [1][4][5]. Financial Performance - Total revenue for 2024 was 567 million yuan, a year-on-year decrease of 17.80% - Net profit attributable to shareholders was 71 million yuan, down 63.55% year-on-year - Non-recurring net profit was 57.18 million yuan, a decline of 67.53% compared to the previous year [1]. R&D Investment - R&D expenditure reached 54.24 million yuan, an increase of 42.62% year-on-year - The R&D team expanded significantly, with personnel numbers rising by 45.77% compared to the previous year - The company established national-level technology centers and has made breakthroughs in new product development, including new blood dialysis machines and continuous blood purification devices [4]. Market Performance - In the domestic market, the company increased its promotion efforts in top-tier hospitals, achieving a market share of 15.97% for blood dialysis machines, ranking first among domestic brands - However, policy factors led to a temporary delay in medical device bidding activities, impacting business [5]. - Internationally, overseas sales reached 128 million yuan, a year-on-year increase of 29.74%, with notable performance in emerging markets like South America and Africa [6]. Sales of Consumables - Sales revenue from self-produced consumables grew rapidly, increasing by 208.15% year-on-year, indicating early success in this area - The sustainability of this high growth remains to be seen, depending on market competition and policy changes [6]. Quality Management and Digital Transformation - The company upgraded production lines and implemented automation, establishing systems for unique device identification (UDI) and manufacturing execution (MES) - The integration of ERP and PLM systems improved decision-making and operational efficiency - Despite improvements in quality management, the gross profit margin decreased by 25.51% year-on-year, highlighting the need for better cost control and supply chain management [7]. Overall Outlook - The company faces dual pressures of declining revenue and profit in 2024, but its increased R&D investment, market expansion efforts, and quality management optimization lay a solid foundation for future growth - Balancing technological advantages with market performance will be a key challenge moving forward [7].