High performance - analysis of the situation of some medical device listed companies in the first three quarters

Recently, many listed medical device companies have successively released their third quarter 2022 performance reports
.
According to the statistics of Medical Equipment Data Cloud, as of October 31, a total of 120 listed medical device companies have issued performance reports, and more than 90% of the company's revenue and net profit in the first three quarters have maintained a growth trend
.
Among them, there are 11 enterprises with revenue of more than 7 billion yuan (see figure for details), and 63 enterprises with revenue of more than 1 billion yuan
.
However, there are also 12 companies (including Medical Hejia, Guanhao Biotechnology, Lanfan Medical, etc.
) with negative net profit growth
.

 

The revenue of Jiuan and Mindray exceeded 20 billion yuan

 

Among the listed companies that have released their third-quarter performance reports, Jiuan Medical and Mindray Medical's revenue in the first three quarters exceeded 20 billion yuan
.

 

Jiuan Medical's revenue in the first three quarters of 2022 reached 24.
589 billion yuan, a year-on-year increase of 3010.
77%; The net profit attributable to the parent reached 16.
050 billion yuan, a year-on-year increase of 31918.
64%.

Among them, the company's revenue in the third quarter was 1.
323 billion yuan, a year-on-year increase of 497.
31%; The net profit attributable to the parent was 807 million yuan, a year-on-year increase of 17452.
26%.

The company's revenue mainly comes from iHeal t h new crown antigen home self-test OTC kit, which is in strong demand in the US market
.

 

According to Mindray's medical performance report, in the first three quarters of this year, the company's revenue reached 23.
296 billion yuan, a year-on-year increase of 20.
13%; The net profit attributable to the parent reached 8.
102 billion yuan, a year-on-year increase of 21.
60%.

Among them, the company achieved revenue of 7.
940 billion yuan in the third quarter, a year-on-year increase of 20.
07%; The net profit attributable to the parent was 2.
815 billion yuan, a year-on-year increase of 21.
40%.

Mindray's profit mainly comes from three business segments
: Life Information & Support, In Vitro Diagnostics, and Medical Imaging.
In the first three quarters of this year, benefiting from good product sales, the revenue of the above three business segments achieved higher growth
.
At the same time, Mindray launched a number of new products
in the above three areas in the first three quarters.
It is worth noting that life information and support was the business segment with the highest revenue in the first three quarters of Mindray, involving monitoring equipment, ventilators and external defibrillator equipment
.

 

Outstanding performance in the IVD field

 

As more and more companies deploy in the field of in vitro diagnostics (IVD), the increase in production capacity and the continuous adjustment of the price of new coronavirus test kits have made the IVD industry face challenges
.
The performance reports released by many companies (such as Dean Diagnostics, Golden Mile Medical, Oriental Biotechnology, etc.
) show that the sales revenue of new coronavirus test kits is still the main source of
the company's revenue.

 

According to the performance report of Dean Diagnostics, the company achieved revenue of 15.
630 billion yuan in the first three quarters, a year-on-year increase of 67.
37%; The net profit attributable to the parent was 2.
428 billion yuan, a year-on-year increase of 96.
94%.

Among them, the revenue of the company's diagnostic service business achieved rapid growth, reaching 9.
875 billion yuan, a year-on-year increase of 117%.

 

According to the performance report of Jinyu Medical, the company achieved revenue of 12.
208 billion yuan in the first three quarters, a year-on-year increase of 41.
67%.

According to the announcement released by Jinyu Medical, the change in revenue was mainly due to the increase in testing demand during the reporting period, resulting in rapid business growth
.

 

According to the performance report of Oriental Biotechnology, the company achieved revenue of 7.
858 billion yuan in the first three quarters, a year-on-year increase of 6.
18%.

As a leading rapid testing service provider in the industry, Oriental Biotech's layout and product research and development in the field of new coronavirus detection have created good business performance
for the company.

 

Subsidized interest loans accelerate the construction of new medical infrastructure

 

With the implementation of the policy of financial discount loans to update and transform medical equipment, medical institutions in various places have started a wave
of equipment renewal procurement.
There are many types of equipment included in the scope of procurement, including ventilators, multi-function ECG monitors, defibrillators, sequencers, CT equipment, DR systems, color ultrasound equipment, etc
.
It is foreseeable that medical device manufacturers will continue to benefit from this policy and achieve further revenue growth
.
Some insiders said that the introduction of financial discount loans to support the renewal and transformation of medical equipment will become an important part
of accelerating the construction of new medical infrastructure.

 

Overall, despite the current global new crown pneumonia epidemic, benefiting from the vigorous development of new domestic medical infrastructure and the continuous recovery of global conventional business, medical device companies are expected to achieve stable and healthy growth
in revenue and net profit by continuously strengthening internal management and improving operational efficiency.
(Contributed by Zhongcheng Medical Equipment Research Institute)