DIRUI(SZ:300396) Xin Lang Cai Jing·2025-10-31 06:58Core Viewpoint - Dierui Medical, a leading manufacturer of medical testing instruments and reagents in China, is facing challenges in revenue and profitability, with a significant decline in domestic sales while experiencing growth in overseas markets [2][5][6]. Group 1: Company Overview - Dierui Medical was established on December 26, 1994, and listed on the Shenzhen Stock Exchange on September 10, 2014. The company is headquartered in Changchun, Jilin Province [1]. - The main business of Dierui Medical includes the research, production, and sales of medical testing instruments and supporting reagents, categorized under the pharmaceutical and biological industry, specifically in medical devices and in vitro diagnostics [1]. Group 2: Financial Performance - For Q3 2025, Dierui Medical reported revenue of 469 million yuan, ranking 19th among 39 companies in the industry. The industry leader, New Industries, achieved revenue of 3.428 billion yuan, while the industry average was 708 million yuan [2]. - The net profit for the same period was -87.25 million yuan, placing the company 32nd in the industry. The top performer, Ji'an Medical, reported a net profit of 1.588 billion yuan, with the industry average at 110 million yuan [2]. Group 3: Financial Ratios - As of Q3 2025, Dierui Medical's debt-to-asset ratio was 31.92%, slightly up from 31.73% year-on-year, which is higher than the industry average of 18.29% [3]. - The gross profit margin for Q3 2025 was 33.41%, down from 43.41% in the previous year, and below the industry average of 56.20% [3]. Group 4: Management Team - The chairman, Guo Ting, has extensive experience in the industry, having held various senior positions in pharmaceutical companies. The general manager, Lang Tao, also has a strong background in the pharmaceutical sector [4]. Group 5: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 6.48% to 16,800, while the average number of shares held per shareholder increased by 6.92% to 16,200 shares [5]. - The company has seen a decline in domestic sales, with reagent revenue down 22.75% and instrument revenue down 75.97%. However, overseas market revenue increased by 24.02% [5]. Group 6: Market Outlook - The company is adjusting its revenue forecasts for 2025-2026 to 679 million yuan and 720 million yuan, respectively, with a projected net profit of -28 million yuan and 53 million yuan for the same years [5]. - The company is focusing on optimizing its sales structure and expanding its overseas market presence, particularly in Southeast Asia and Belt and Road Initiative countries [6].