Jiangsu wuzhong(SH:600200) Zheng Quan Zhi Xing·2025-05-17 03:59Core Viewpoint - *ST Suwu is facing scrutiny due to disclosure violations but is experiencing strong growth in its medical aesthetics business, which is expected to drive a turnaround in overall performance [1][2][3] Group 1: Financial Performance - In 2024, *ST Suwu achieved revenue of 1.599 billion yuan and gross profit of 773 million yuan, marking a year-on-year increase of 229 million yuan, or 42.12% [1] - The net profit attributable to shareholders reached 70.48 million yuan, a significant year-on-year growth of 197.97% [1] - In Q1 2025, the medical aesthetics segment generated revenue of 113 million yuan with a gross profit of 92.57 million yuan, while the pharmaceutical segment saw a revenue decline of 218.44 million yuan [2] Group 2: Business Strategy and Market Position - *ST Suwu has shifted its strategic focus from pharmaceutical business to medical aesthetics since early 2021, which has proven to be a forward-looking decision that opened new growth avenues [2] - The launch of the "Tongyan Needle" in January 2024 marked *ST Suwu's first entry into the medical aesthetics market, quickly gaining traction despite pricing controversies [2][3] - The company has established strong marketing efforts across various well-known medical aesthetics brands, enhancing its competitive position in the market [3]