CONTEC MEDICAL SYSTEMS CO. (SZ:300869) Zheng Quan Shi Bao Wang·2025-10-14 06:01Core Viewpoint - 康泰医学 has experienced a dramatic decline in stock price and financial performance since its IPO, with a significant drop in market capitalization and continuous losses in revenue and profit over the years [1][2][5]. Financial Performance - 康泰医学's revenue has declined for four consecutive years, with a notable drop of 35.15% in 2021 and a further decline of 35.76% in 2024, while net profit saw a staggering loss of 7790.26 million yuan in 2024 [2][4]. - The company reported a slight revenue increase of 4.89% in 2023, but net profit continued to decline by 15.51% [2][4]. - In the first half of 2025, 康泰医学 reported revenue of 2.18 billion yuan, a year-on-year increase of 2.72%, and a net profit of 1693.76 million yuan, a significant increase of 107.39% [2]. Stock Price Movement - 康泰医学's stock price has fallen continuously since its debut, with a decline of over 94% from its peak of 308 yuan per share to the latest price of 16.15 yuan [1][5]. - The stock experienced a drop of nearly 66% in 2024, following declines of approximately 19% in 2022 and over 36% in 2023 [5]. Shareholder Actions - Since 2021, 康泰医学 has seen over 138 instances of share reductions by major shareholders and executives, totaling more than 1.6 billion yuan [6][7]. - The company's chairman, 胡坤, notably reduced his holdings by nearly 1.6 billion yuan during a period of historically low stock prices [6][8]. Regulatory Issues - 康泰医学 received a warning letter from the FDA regarding non-compliance with medical device quality system regulations, which could impact its sales in the U.S. market [3]. - In 2024, the company generated 1.14 billion yuan in sales from the U.S., accounting for 23.84% of its total revenue [3].