Winner Medical(SZ:300888)2025-08-25 03:42Financial Performance - In the first half of 2025, the company achieved a total revenue of 5.3 billion yuan, representing a year-on-year growth of 31.3% [11] - The revenue for Q1 and Q2 was 1.9 billion yuan and 2.6 billion yuan respectively, showing a steady increase [12] - The overall gross profit margin remained stable, with the operating profit margin increasing by 0.7 percentage points compared to the same period last year [16] Profitability - The net profit attributable to shareholders was 490 million yuan, with a year-on-year growth of 28.1% [16] - The net profit excluding non-recurring gains and losses was 460 million yuan, reflecting a growth of 40.9% [16] - The company's asset-liability ratio decreased to 32%, indicating improved asset quality [18] Business Segments Medical Consumables - The medical segment generated a revenue of 2.52 billion yuan, with a year-on-year increase of 46.4% [29] - Excluding the contribution from the newly acquired GRI, the revenue was 1.95 billion yuan, up 13.2% year-on-year [29] - Key product categories such as surgical consumables and high-end dressings showed strong growth [29] Consumer Products - The consumer segment achieved a revenue of 2.75 billion yuan, growing by 20.3% year-on-year [40] - The core product, the Nai Si Princess sanitary napkin, significantly contributed to the overall growth [40] - The online sales channel generated 1.71 billion yuan, with a year-on-year increase of 23.6% [45] R&D and Innovation - The company emphasized R&D investment, with a steady increase in the number of patents and medical product registrations [18] - The focus on product innovation led to the development of high-end materials and improved product offerings [25][35] Shareholder Returns - The mid-term profit distribution plan for 2025 includes a cash dividend of 4.5 yuan per 10 shares, totaling 260 million yuan, which is 53% of the net profit attributable to shareholders [23] - Cumulatively, the company has distributed 2.88 billion yuan in cash dividends since its listing [23]