VISHEE(SH:688580)2023-10-20 10:24Company Overview - Weish Medical was established in 2001 and is headquartered in Nanjing, recognized as a national-level "little giant" enterprise and a high-tech enterprise [2] - The company focuses on the research, development, production, and sales of medical devices, aiming to become a leading supplier in the rehabilitation field in China and a global leader in magnetic stimulation [2] Financial Performance - As of the first half of 2023, total assets amounted to CNY 1,713.27 million, with net assets attributable to shareholders at CNY 1,550.06 million [2] - The company achieved total operating revenue of CNY 219.80 million, a year-on-year increase of 63.87% [2] - Net profit attributable to shareholders reached CNY 70.56 million, up 84.43% year-on-year [2] - The net profit after deducting non-recurring gains and losses was CNY 65.34 million, reflecting a 141.60% increase [3] Market and Business Strategy - The company has adapted to recent anti-corruption policies in the medical industry, which may cause delays in some academic activities but believes the long-term impact on business will be limited [4] - The revenue from the private market has been increasing, and the company is focusing on adjusting strategies to enhance sales directly to end customers [4] - The company has maintained participation in academic exchanges and plans to increase market penetration [5] Product Portfolio - Weish Medical has developed a comprehensive solution for mental rehabilitation, including over 20 products such as transcranial magnetic stimulators and cognitive dysfunction treatment software [8] - The company’s pelvic floor rehabilitation business has seen growth, although its overall contribution has decreased to around 40% of total business, while other areas like neurological and mental rehabilitation have surpassed 50% [8] - The company is expanding its laser and radiofrequency technology platform into aesthetic fields and surgical applications, which are expected to provide new growth points [8] Future Outlook - The company is actively developing core products in the rehabilitation specialty market to enhance its product matrix and support the growth of basic rehabilitation services [8] - The aesthetic energy source product line includes various applications in gynecology, dermatology, and medical beauty, addressing diverse end-user needs [9]