福瑞股份：推进肝病管理式医疗新生态，体检肝弹设备落地

Financial Performance - In 2024, the company achieved operating revenue of 1.349 billion yuan, a year-on-year increase of 16.93% [1] - The net profit attributable to shareholders was 113 million yuan, up 11.54% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 118 million yuan, reflecting a growth of 19.33% [1] - In Q1 2025, the company experienced a slight increase in operating revenue, primarily due to a high base from the previous year, while profits declined due to foreign exchange losses and stock incentive expenses [1] Strategic Initiatives - The company is advancing a "product + service" dual-driven model, enhancing traditional pharmaceutical sales while establishing digital health management services to improve patient adherence and sales of key products [2] - The company is committed to a managed care service model, focusing on liver cancer screening standards and developing comprehensive management solutions from screening to treatment [2] - The company aims to increase liver disease detection and treatment rates while ensuring a win-win situation for insurance, doctors, and patients [2] Research and Development - A national major science and technology project focusing on the prevention and clinical evaluation of primary liver cancer has been launched, involving collaboration with 11 authoritative medical institutions [3] - The project aims to provide comprehensive health solutions for 447 million chronic liver disease patients in China [3] Product Development - The FibroScan liver elastography device has been recognized as the "best" by American guidelines, with over 5,200 clinical research publications supporting its efficacy [4] - By the end of 2024, the company had installed 651 units of FibroScan Go and box globally, with plans to expand its clinical application scenarios in 2025 [4] - The company has established itself as a leader in the fatty liver field, with significant research demonstrating the effectiveness of its products in reducing liver cancer incidence and mortality [4]