maccura(SZ:300463)2022-10-27 10:28Group 1: Financial Performance - In Q3 2022, the company achieved revenue of 940 million CNY, a year-on-year decrease of 11%, and a net profit of 190 million CNY, down 26% year-on-year [1] - For the first three quarters, total revenue was 2.7 billion CNY, with a net profit of 600 million CNY, representing a year-on-year decline of 10% and 25% respectively [1] - The revenue from COVID-19 nucleic acid testing products accounted for approximately 20% of total revenue, with a 93.06% increase in testing numbers compared to the same period last year, but a 23.08% decline in revenue year-on-year [2] Group 2: Impact Factors - The decline in performance is attributed to four main factors: price reductions from centralized procurement of COVID-19 nucleic acid tests, proactive adjustments in agency business, increased asset impairment provisions, and the impact of non-recurring gains and losses [2] - The average sales gross margin for COVID-19 nucleic acid testing products decreased by about 20 percentage points [2] - Agency product sales in Q3 decreased by approximately 24% year-on-year, with a cumulative decline of about 21% for the first three quarters [2] Group 3: Product and Market Strategy - The company is transitioning from traditional product sales to a fully automated product series, with self-owned product revenue increasing to 88% [3] - The sales of self-owned conventional products grew by 27% year-on-year in Q3, and 13% for the first three quarters, with no significant change in gross margin [3] - The company aims to achieve a revenue structure where self-owned products account for no less than 80% by 2025, targeting a revenue scale of 4 to 5 billion CNY [7] Group 4: Research and Development - The company has over 800 R&D personnel, with R&D investment around 200 million CNY for the first three quarters, a year-on-year increase of about 10% [4] - The company plans to continue enhancing its product offerings, including the introduction of new products like D700 and digital PCR instruments [6] Group 5: Regional Performance - As of Q3, the Southwest region accounted for approximately 37% of total revenue, with a year-on-year increase of about 2% [6] - The North China and Northeast regions also showed significant contributions, with East China’s share rising from 13% to 16% [6]