"人年纪大了认知会退化，慢慢就会让人讨厌，可那时候自己不知道被讨厌，甚至还以为大家很喜欢，我一 定不会让自己拖到那天。" 在2025年Q1财报分析师会议上，当被问到企业接班人问题时，方洪波给出了自己的答案，自己不会恋权，已 经为美的培养了六七个随时能接手的接班人。 从一个美的内刊的小编辑到如今美的集团董事长兼总裁，方洪波的前半生已经与美的高度绑定，是美的给了 方洪波的平台，成就了他的职业梦想，而方洪波也秉承"士为知己者死"，以一己之力帮助美的度过了"中年 危机"，开启了美的第二春。 【1】美的盛世危机 "时代的洪流中，我们总会在某一个时刻意识到，命运是不可抗拒的"，编辑出身的方洪波相信命运，认为每 个人都有自己的时代责任，而他的命运就是在美的。 据数据显示：2024年，美的营收达到4091亿，净利润为385亿，相较于2023年同比增长了9.5%、14.3%。要知 道，在2012年，美的营收只有680.7亿，净利润只有34.8亿。 也就是说，在方洪波掌舵美的的十二年间，美的营收增长了6倍，净利润增长了超11倍。 值得注意的是，与其他企业增长依靠人口红利、时代机遇不同，在2012年接手美的之初，方洪波面临的是一 ...

Group 1: Company Overview - Steady Medical Group, founded in 1991, has evolved into a health enterprise focusing on medical and consumer sectors, listed on the Shenzhen Stock Exchange in 2020 [13] - The company aims to "protect health, care for life, and protect the environment" with its main brands being "Winner Medical" and "Purcotton" [13] Group 2: Annual Performance Review - In 2024, the company achieved a total revenue of 89.8 billion CNY, a 9.7% increase from 2023's 81.9 billion CNY [18] - Excluding infection protection product revenue, the adjusted revenue was 86.2 billion CNY, reflecting an 18.6% year-on-year growth [18] - The revenue structure for 2024 was 43% from medical consumables and 56% from consumer products [18] Group 3: Profitability - The net profit attributable to shareholders reached 7.0 billion CNY, a 19.8% increase compared to 2023 [21] - The net profit margin improved to 7.7%, up 0.7 percentage points from the previous year [21] - The gross profit margin for 2024 was 47.3%, indicating a stable profitability trend [20] Group 4: Asset Quality and R&D Investment - Total assets at the end of 2024 were 184 billion CNY, a 7.5% increase from the previous year [26] - The asset-liability ratio stood at 35.4%, maintaining a low level [26] - The company emphasized R&D, with a steady increase in the number of patents and medical product registrations [26] Group 5: Shareholder Returns - The proposed cash dividend for 2024 is 3.8 billion CNY, representing 54% of the net profit [30] - Cumulative cash dividends since listing amount to 26.1 billion CNY, accounting for 93% of the net proceeds from the IPO [30] Group 6: Medical Consumables Business - The medical segment generated 39.1 billion CNY in revenue for 2024, showing resilience despite a high base from infection protection products [34] - Excluding infection protection, the medical consumables revenue was 35.5 billion CNY, a 20.4% increase year-on-year [34] - Core categories such as high-end dressings and surgical consumables saw revenue growth exceeding 30% [34] Group 7: Consumer Products Business - The consumer segment, led by Purcotton, achieved 49.9 billion CNY in revenue, a 17.1% increase from 2023 [43] - Online sales contributed 62% of the revenue, while offline stores accounted for 30% [46] - The company added 92 new offline stores in 2024, bringing the total to 487 [46] Group 8: Q1 2025 Performance Overview - In Q1 2025, total revenue reached 26.1 billion CNY, a 36.5% increase year-on-year [53] - The medical business revenue for Q1 2025 was 12.5 billion CNY, up 46.3% [54] - The consumer business generated 13.4 billion CNY, reflecting a 28.8% growth [54]