Core Viewpoint - Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (Mindray Medical) reported a revenue of 36.726 billion yuan for 2024, marking a year-on-year growth of 5.14%, and a net profit of 11.668 billion yuan, with a growth of 0.74% [2][3] Financial Performance - The company achieved a net cash flow from operating activities of 12.432 billion yuan, reflecting a year-on-year increase of 12.38% [2] - Mindray Medical's revenue and net profit have seen continuous growth for seven consecutive years since its listing, with 2024 revenue being 2.2 times that of 2019 and net profit being 2.5 times that of 2019 [2] Business Segments - The revenue from the Life Information and Support segment reached 13.557 billion yuan, with the minimally invasive surgery business growing over 30% year-on-year [3] - The In-Vitro Diagnostics segment generated 13.765 billion yuan, showing a year-on-year growth of 10.82%, becoming the largest business segment for the first time [3] - The Medical Imaging segment reported revenue of 7.498 billion yuan, with a year-on-year increase of 6.60% [3] R&D and Innovation - Mindray Medical invested 4.008 billion yuan in R&D for 2024, accounting for 10.91% of total revenue, emphasizing its commitment to innovation [3] - The company launched the world's first clinical large model for critical care, named "Qiyuan," enhancing diagnostic precision and quality [4] Market Position and Strategy - Mindray Medical aims to break into the top 20 global medical device rankings, leveraging its competitive advantages in R&D, production, marketing, and service [2] - The company has established numerous successful cases in high-end customer groups both domestically and internationally [5] Shareholder Returns - Mindray Medical plans to distribute a cash dividend of 5.60 yuan per 10 shares, totaling 679 million yuan for 2024, with a cumulative cash dividend of 7.602 billion yuan, representing a payout ratio of 65.15% [6] - The company has consistently paid dividends for seven years without any refinancing, with total dividends reaching 34.111 billion yuan, nearly six times its IPO fundraising amount [6]