Sanxin Medtec(SZ:300453)2024-05-23 00:52Financial Performance - In 2023, the company achieved operating revenue of 130,006.09 million yuan, a decrease of 2.69% compared to the previous year [2] - The net profit attributable to shareholders was 20,663.38 million yuan, an increase of 11.92% year-on-year [2] - In Q1 2024, the company reported operating revenue of 33,115.89 million yuan, a growth of 21.34% compared to the same period last year [2] - The net profit attributable to shareholders for Q1 2024 was 5,361.87 million yuan, reflecting a year-on-year increase of 19.72% [2] Market Expansion - The company has maintained a stable revenue contribution from international markets, ranging between 15%-20% over recent years [3] - In 2023 and Q1 2024, the company enhanced its market access in certain countries, leading to increased orders for dialysis equipment and consumables [3] Product Development and Procurement - The company has been selected for the procurement of blood dialysis devices and related products, with the implementation of centralized procurement expected to start in June 2024 [3] - The introduction of domestic products in the blood dialysis market is anticipated to accelerate, with a focus on increasing market share against imported products [3][4] - The company has developed a new disposable dialysis catheter, breaking the import monopoly and expected to see significant sales growth [4] Future Plans - The company aims to focus on blood purification and expand into vascular access and interventional fields, with ongoing development of over 10 projects in these areas [4][5] - The company is actively working on product upgrades to meet diverse patient needs, including obtaining registration for various dialysis solutions [4][5] Competitive Advantage - The company possesses a comprehensive product range in the blood dialysis sector, with a strong market presence and competitive pricing strategies [5] - The establishment of a domestic production line for hollow fiber membranes is expected to reduce costs and enhance market competitiveness [5]