稳健医疗董事长、全棉时代创始人李建全：坚持长期主义 迈向品牌出海新征程

Core Viewpoint - The company, Steady Medical, is transitioning from product export to brand export, aiming to establish itself as a leading global health enterprise through high-quality products and operational excellence [1][9]. Company Development - Founded in 1991 by Li Jianquan, Steady Medical has evolved from a medical dressing exporter to a dual-driven health enterprise combining medical and consumer goods [1][4]. - The company initially focused on medical dressings, establishing its own brand "Winner Steady Medical" after starting as an OEM for foreign brands [4][6]. - In 2009, the company launched "Cotton Era," aiming to innovate from medical-grade products to consumer goods, despite facing initial losses of nearly 200 million yuan in the first four years [5][6]. Innovation and Product Quality - Steady Medical emphasizes product quality and innovation, having invested over 500 tons of cotton to develop a cotton-based non-woven fabric technology that simplifies production and addresses industry pain points [4][5]. - The company has established a dual business model of medical and consumer products, leveraging the same supply chain and technology standards for synergy [7][8]. Financial Performance - In the first half of 2025, Steady Medical achieved a revenue of 5.296 billion yuan, a year-on-year increase of 31.31%, with a net profit of 492 million yuan, up 28.07% [8]. - The medical segment generated 2.52 billion yuan in revenue, growing 46.4%, while the Cotton Era brand achieved 2.75 billion yuan, a 20.3% increase [8]. Global Expansion and M&A - The company is shifting towards brand export, highlighted by the acquisition of a 75.2% stake in the U.S. medical consumables company GRI for 120 million USD, which is expected to enhance its global strategy [9][10]. - In the first half of 2025, overseas sales reached 1.43 billion yuan, marking an 81.3% increase, with products sold in over 110 countries [9][10]. Future Strategy - Steady Medical plans to convert 90% of its overseas medical business to proprietary brands, moving away from OEM production, while Cotton Era will focus on establishing a strong domestic presence before expanding internationally [10].