Succeeder(SH:688338) Xin Lang Cai Jing·2025-04-24 22:06Core Viewpoint - Beijing Saike Xide Technology Co., Ltd. (hereinafter referred to as "Saike Xide") has released its 2024 annual report, showcasing resilience amid challenges such as medical insurance cost control policies and market competition while also highlighting significant financial metrics and business developments [1]. Financial Performance - Revenue increased to CNY 305,870,242.02, a growth of 11.03% year-on-year, driven by an increase in coagulation product installations and user numbers [2]. - Net profit attributable to shareholders decreased by 3.35% to CNY 112,999,583.01, primarily due to increased depreciation, operational maintenance, and relocation costs following the commissioning of new production facilities [2]. - The non-recurring net profit was CNY 110,486,685.01, down 3.97% year-on-year, indicating a decline in core business profitability [2]. Expense Changes - Sales expenses rose by 6.52% to CNY 37,294,513.91, reflecting continued investment in market expansion [3]. - Management expenses surged by 90.55% to CNY 25,773,452.43, largely due to increased costs associated with new facility operations [3]. - Financial expenses were reported as -CNY 25,208,978.88, indicating a decrease in interest income due to lower bank deposit rates [3]. - R&D expenses amounted to CNY 19,604,679.27, a 2.23% increase, emphasizing the company's commitment to innovation [3]. Cash Flow Situation - Net cash flow from operating activities was CNY 122,983,903.25, up 12.17%, indicating improved cash generation capabilities [4]. - Net cash flow from investing activities was -CNY 269,818,221.94, reflecting increased outflows for structured deposit investments [4]. - Net cash flow from financing activities was -CNY 67,102,623.91, primarily due to share buybacks [4]. R&D and Market Conditions - R&D investment was CNY 19,604,679.27, accounting for 6.41% of revenue, showing a slight decrease in proportion but an absolute increase in spending [5]. - The company achieved several R&D milestones, including new product registrations, enhancing its product portfolio and market competitiveness [5]. - The company is actively expanding its market presence and optimizing channel policies, with a growing number of domestic users and installations [5]. - The competitive landscape in the thrombosis and hemostasis in vitro diagnostics market is intensifying, posing challenges to the company's operations [5].