鱼跃医疗：第三季度营收同比增长9.63%，拟进行首次三季度分红

Core Viewpoint - Yuyue Medical, a leading home medical device company, reported a revenue of 6.545 billion yuan for the first three quarters of 2023, marking an 8.58% year-on-year increase, and announced its first-ever third-quarter dividend since listing, reflecting strong financial performance and commitment to shareholder returns [1] Financial Performance - For the first three quarters of 2023, Yuyue Medical achieved an operating income of 6.545 billion yuan, up 8.58% year-on-year, and a net operating cash flow of 1.504 billion yuan, increasing by 8.77% [1] - In Q3 2023, the company reported an operating income of 1.886 billion yuan, representing a 9.63% year-on-year growth [1] - The total dividend after this distribution will reach 4.959 billion yuan [1] R&D and Product Development - Yuyue Medical has significantly increased its R&D investment, reaching 444.5 million yuan in the first three quarters of 2023, a 9.76% increase year-on-year, positioning it among the top four listed medical device companies in China [2] - The company’s gross margin improved to 50.35%, driven by the introduction of high-end products and continuous innovation [2] - The blood glucose management and POCT solutions segment has maintained double-digit growth since 2022, showcasing the successful transformation of R&D efforts into marketable products [2] Product Launch and Market Performance - The new CGM products, Anytime 4 and Anytime 5 series, launched in 2025, have shown significant advancements in usability, battery life, and measurement accuracy, achieving an 8.58% MARD value [2] - The mobile app "Yuyue Anai Sugar" has seen a rapid increase in downloads, ranking first in the wearable device category on Apple's App Store since June [3] - During the 618 shopping festival, the new product series achieved a 165% sales growth on JD.com, contributing to the rapid popularization of CGM products in the domestic market [3] Strategic Initiatives - The company is focusing on enhancing R&D and brand building, particularly in digital and wearable products, to increase market share in CGM products [3] - Yuyue Medical has launched the AI Health Steward application, integrating data from various medical devices for health data management and analysis [3][4] - The company is actively pursuing an internationalization strategy, establishing subsidiaries in key markets like Germany, Thailand, and the USA, and recently launched a subsidiary in Indonesia to strengthen its presence in Southeast Asia [5][6] Market Trends and Future Outlook - The rise of AI technology is expected to inject new vitality into chronic disease management, with companies that integrate data, algorithms, and ecosystems likely to dominate the market [4] - Yuyue Medical aims to redefine blood glucose management through the deep integration of AI and CGM technologies, leveraging nearly 30 years of expertise in the medical device field [4] - The company is committed to a long-term strategy focused on AI technology and global expansion, as emphasized by its chairman [7]