境内外市场并行拓展 三鑫医疗2025年一季度营收稳步增长

Core Viewpoint - Sanxin Medical reported steady revenue growth in Q1 2025, with a focus on expanding both domestic and international markets [1][2] Financial Performance - The company achieved operating revenue of 361 million yuan, representing a year-on-year increase of 8.88% [1] - Net profit attributable to shareholders was 53.73 million yuan, slightly up by 0.20% year-on-year [1] - Deducting non-recurring items, net profit was 50.50 million yuan, showing a year-on-year growth of 7.93% [1] - Operating cash flow reached 56.67 million yuan, marking a significant increase of 60.02% year-on-year [1] - The net profit cash ratio stood at 105.48%, indicating high profitability quality [1] R&D Investment - The company increased its R&D expenditure to 16.25 million yuan, a year-on-year rise of 33.96%, supporting high-quality development [1] Domestic Market Expansion - Sanxin Medical's key blood dialysis products were selected for bulk procurement in 23 provinces and the Beijing-Tianjin-Hebei region, enhancing market share [2] - The company has gained procurement volume and is eligible for additional distribution of unallocated procurement quantities, improving competitive pricing [2] - The bulk procurement agreements are set for a duration of one year or more, ensuring stable sales channels for the company [2] International Market Strategy - The company focuses on emerging markets in Southeast Asia, South America, and Africa, with minimal exports to the U.S. [2] - In 2024, exports to the U.S. accounted for only 0.43% of total revenue [2] - Sanxin Medical has successfully registered in Indonesia, Peru, and Mexico, and is advancing certification in Russia and Turkey [2] - The establishment of a global self-certification system aims to strengthen the company's international market presence and enhance global competitiveness [2]