Company Overview - Beijing Yihe Jiaye Medical Technology Co., Ltd. was established in 2001 and launched its first multi-channel sleep monitor in 2003. The first CPAP sleep machine was introduced in 2007, followed by CE certification in 2008 and FDA certification in 2012. The company successfully listed on the Shenzhen Stock Exchange's Growth Enterprise Market on November 1, 2022 [1]. - The company focuses on providing comprehensive treatment solutions for OSA and COPD patients, covering the entire cycle from diagnosis to treatment and chronic disease management. It is a leading domestic company in non-invasive ventilators and masks, being the first domestic listed company to receive FDA certification for non-invasive ventilator products, with sales in over 100 countries and regions [1]. Market Performance - Since Q2 2023, company performance has been impacted by inventory issues in the U.S. market, but inventory pressure is gradually decreasing. It is expected that the U.S. market will begin to improve in Q3 2024 [2]. - The company has established a subsidiary in France in 2023 to address local medical insurance reimbursement issues, which is expected to enhance collaboration with more agents in the European market [3]. Supply Chain and Investment - The investment in Shenzhen Deda Xing Drive Technology Co., Ltd. is aimed at ensuring the stability and security of core component supplies, aligning with the company's long-term strategic direction and enhancing core competitiveness [2]. - The company’s consumables business has seen an increase in revenue share due to high usage frequency and high gross margin. In 2023 and Q1 2024, the consumables revenue share has risen, particularly in the U.S. market where a consumables team was established [2]. Financial Insights - The company anticipates a continuous increase in gross margin in 2024, driven by a higher proportion of high-margin products and improvements in regional revenue structure, with domestic revenue share on the rise [3].
怡和嘉业(301367) - 投资者关系活动记录表