VISHEE(SH:688580)2024-07-24 08:28Company Overview - Weisi Medical was established in 2001 and is headquartered in Nanjing, focusing on innovative medical devices and solutions for rehabilitation medicine, including pelvic and postpartum rehabilitation, mental health rehabilitation, and pediatric rehabilitation [3][4]. - The company is recognized as a national high-tech enterprise and a "little giant" in specialized and innovative sectors [3]. Financial Performance - In 2023, the company achieved total revenue of CNY 462.22 million, an increase of 43.72% year-on-year; net profit attributable to shareholders was CNY 136.26 million, up 45.22% [4]. - For Q1 2024, revenue was CNY 87.67 million, a decrease of 8.24% year-on-year; net profit attributable to shareholders was CNY 21.75 million, down 27.69% [4][5]. - The company implemented an equity incentive plan, resulting in a post-tax share-based payment expense of CNY 16.70 million in 2023 [4]. Business Strategy and Product Development - The company aims to enhance its market share in core businesses (pelvic and postpartum rehabilitation, mental health rehabilitation, and neurological rehabilitation) while expanding into new business areas (optical medical aesthetics and urology) [5][6]. - New product launches in 2024 include advancements in magnetic stimulation and electrical stimulation technologies, targeting clinical applications for depression and anxiety [5][6]. Market Expansion and Internationalization - Weisi Medical is actively pursuing international market expansion, having obtained FDA certification for its shaping magnetic and pelvic function magnetic products in 2023 [8]. - The company is building an international sales network and accelerating compliance and registration processes for overseas markets [8]. Shareholder Returns and Dividends - The company maintained a high cash dividend payout ratio, reaching 75% in 2023, with a total cash dividend amount of CNY 102 million, the highest since its listing [11]. - Future dividend policies will continue to balance total cash dividends, payout ratios, profitability, and development needs [11]. Regulatory and Policy Impact - The recent medical equipment update policies are expected to boost market demand for new equipment, with over 20 provinces announcing implementation plans [9]. - The company is responding to these policies by offering "old-for-new" product combinations to meet market needs [9].