Core Insights - The article highlights the successful approval of SkuHeal™ artificial bone repair material by the Vietnamese Ministry of Health, following its previous registrations in China and Indonesia [1][3] - The company, Aojing Medical Technology Co., Ltd., specializes in high-end biomedical materials and has developed a series of mineralized collagen artificial bone repair materials [8] Company Overview - Aojing Medical was established on December 22, 2004, and was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on May 21, 2021 [8] - The company focuses on the research, production, and sales of biomedical materials, with key products including "Gaojin," "Chibei," and "Curu" [8] - Aojing Medical's products have been clinically applied in over 600 hospitals in China, with more than one million cases, and have received FDA 510(k) market access approval [8] Product Details - SkuHeal™ is developed using proprietary in vitro biomimetic mineralization technology, closely mimicking the composition and microstructure of natural bone tissue [6] - The product is primarily used for bone defect repair in neurosurgery, including fractures, non-union, and bone defects, demonstrating significant potential for clinical application [7] - Other key products include Gaojin for orthopedic bone defect repair, Chibei for oral or plastic surgery, and Curu for neurosurgery [9]

Core Viewpoint - The company has issued a correction to its 2024 annual report, specifically regarding the sales dependency on major customers, indicating that two of the top five customers were new in 2024, which was not previously disclosed [1][2]. Group 1: Business Performance and Strategy - In 2024, the company accelerated its market expansion, developing over 900 new hospitals, with 800 of these due to the nationwide implementation of centralized procurement for orthopedic artificial bones, resulting in a 90% increase in terminal hospitals compared to the previous year [4][5]. - The company completed the acquisition of HumanTech Dental in April 2024, entering the dental implant market and establishing a diversified distribution system, which has shown rapid growth and is expected to become a new revenue driver [5]. - The company has made significant progress in international market expansion, obtaining medical device registrations in multiple Southeast Asian and Latin American countries, which is expected to enhance its global market presence [5]. Group 2: Operational Efficiency and Cost Management - The company has optimized its production operations, establishing a new production line capable of producing 2 million boxes of mineralized collagen artificial bone repair materials annually, which supports the increased clinical demand following centralized procurement [7][8]. - In 2025, the company plans to implement cost-reduction measures, enhance internal control management, and improve operational quality by optimizing production efficiency and managing inventory effectively [8][9]. Group 3: Innovation and R&D - The company is committed to long-term R&D investments, achieving significant breakthroughs in 2024, including the registration of new medical devices and the establishment of a postdoctoral research station to foster innovation and talent development [10]. - In 2025, the company aims to expand its R&D team and enhance collaboration mechanisms to improve product competitiveness and market share [10]. Group 4: Governance and Investor Relations - The company is focused on strengthening its governance structure and decision-making processes to enhance operational efficiency and accountability [11]. - The company emphasizes the importance of investor communication and aims to improve the quality of information disclosure while ensuring stable and continuous profit distribution policies [12][13].