Core Insights - Lepu Medical reported a revenue decline of 23.52% to 6.103 billion yuan and a net profit drop of 80.37% to 247 million yuan for the year 2024 [1] Group 1: Medical Device Segment - The medical device segment is the largest revenue-generating area for the company, with three main sub-segments: cardiovascular intervention, in vitro diagnostics, and surgical anesthesia [1] - The cardiovascular intervention segment generated revenue of 3.326 billion yuan, a decrease of 9.47% year-on-year, with coronary intervention revenue at 1.622 billion yuan, an increase of 6.35%, and structural heart disease revenue at 469 million yuan, an increase of 44.03% [1] - The surgical anesthesia business achieved revenue of 541 million yuan, a slight increase of 0.27% [1] Group 2: In Vitro Diagnostics and Pharmaceutical Segment - The in vitro diagnostics segment reported revenue of 333 million yuan, a significant decline of 51.31%, attributed to intensified competition and price reductions, with personnel and strategic adjustments causing some business fluctuations [2] - The pharmaceutical segment generated revenue of 1.758 billion yuan, down 42.25%, with formulations (generic drugs) at 1.409 billion yuan, a decrease of 46.50%, and raw materials at 349 million yuan, down 14.99% [2] - The company shifted its focus to OTC retail after core products were included in national procurement [2] Group 3: Medical Services and Health Management - The medical services and health management segment reported revenue of 1.019 billion yuan, a decline of 19.24%, while the Hefei Cardiovascular Hospital experienced significant growth, with revenue increasing by 15.60% under new leadership [2]