VISHEE(SH:688580)2024-04-30 07:38Company Overview - VISHEE Medical was established in 2001 and is headquartered in Nanjing, focusing on innovative medical devices. It is recognized as a national high-tech enterprise and listed on the Sci-Tech Innovation Board [3]. - The company specializes in rehabilitation medicine, offering high-quality products and solutions in areas such as pelvic floor rehabilitation, mental health recovery, neurological rehabilitation, and pediatric rehabilitation [3]. Financial Performance - In 2023, the company achieved total revenue of CNY 462.22 million, a year-on-year increase of 43.72%. The net profit attributable to shareholders was CNY 136.26 million, up 45.22% [3]. - The net profit after deducting non-recurring gains and losses was CNY 121.73 million, reflecting a significant increase of 58.93% [3]. - The company plans to distribute a high cash dividend, proposing a distribution of CNY 1.02 billion, with a plan to convert capital reserves into shares at a ratio of 4 shares for every 10 shares held [4]. Stock Incentive Plan - The performance assessment targets for the stock incentive plan remain unchanged, with the company aiming for an 80% revenue growth or a 110% net profit growth compared to 2022 [4]. - In Q1 2024, the stock incentive plan incurred a post-tax expense of CNY 599.96 million, with an expected increase in total stock payment for the year compared to 2023 [4]. Market Strategy and Product Development - The company is actively expanding into overseas markets, having received FDA certification for several products and participating in international exhibitions [4]. - The focus on medical aesthetics includes developing compliant products that replace imports, targeting women's health and aesthetic needs [5]. - The company has established six major technology platforms, including magnetic stimulation and robotic rehabilitation, to support its product offerings [6]. Future Outlook - The company anticipates a gradual increase in demand for medical equipment due to new policies, with expected performance growth in Q2 and Q3 of 2024 [7]. - The pelvic floor rehabilitation market is projected to maintain stable growth, with the company expanding its offerings to include comprehensive solutions for women's health throughout their life cycle [5].