APON(300753)2023-05-16 10:31Financial Performance - 2022 annual revenue was 323.8081 million yuan, a decrease of 29.79% year-on-year [7] - Pain management business revenue was 117.3916 million yuan, down 53.46% year-on-year [7] - Nasal care business revenue was 126.1041 million yuan, down 5.82% year-on-year [7] - Net profit attributable to shareholders was -76.3774 million yuan, a decrease of 241.27% year-on-year [7] - Q1 2023 revenue was 94.0682 million yuan, up 29.22% year-on-year [11] - Q1 2023 net profit was 1.2156 million yuan, up 111.06% year-on-year [11] Business Segments Pain Management - Focused on acute, chronic, and intractable pain management [11] - New non-DEHP material infusion devices launched for pregnant women and adolescents [11] - Developed MCB pump + non-DEHP infusion device + iPainfree pain management system [7] - Expanding into non-public hospitals and non-anesthesia departments [11] Nasal and Upper Airway Management - Nasal care products revenue accounted for 38.94% of total revenue in 2022 [10] - Retail business revenue reached 107.1526 million yuan, up 14.26% year-on-year [10] - Expanded indications for Noseclean nasal spray to include acute upper respiratory infections [10] - Increased online investment in nasal care products [7] CXO Business - Established medical device CXO project incubation centers in 2020 [8] - Provides capital, R&D, registration, production, and marketing support [8] - Set up a 50 million yuan private equity fund for project incubation [8] R&D and Innovation - 2022 R&D investment was 34.9463 million yuan, accounting for 10.79% of revenue [9] - 16 R&D projects across 9 major categories in pain and nasal management [9] - Key projects include pain assessment algorithms, anesthesia depth monitors, and nasal irrigation materials [9] - Launched new products including Noseclean nasal spray and non-DEHP infusion devices [9] Market Trends and Opportunities - Domestic anesthesia depth monitors gaining market share due to government procurement policies [8] - Epidural analgesia included in medical insurance in over 10 provinces [11] - Nasal irrigation market potential supported by COVID-19 expert consensus [12] - Allergic rhinitis prevalence in China is 17.6% [12] Strategic Initiatives - Building a smart product and service ecosystem focused on single disease management [5] - Expanding into perioperative rapid recovery and medical aesthetic safety [7] - Strengthening market access and hospital entry for new products [7] - Enhancing brand exposure and customer loyalty for nasal care products [7]