Jiangsu Yuyue Medical Equipment & Supply (002223) Q4 2024 earnings summary

Executive summary

• 2024 revenue was RMB 7.57 billion, down 5.09% year-over-year; net profit attributable to shareholders was RMB 1.81 billion, down 24.63%.

• Operating profit was RMB 1.93 billion, down 33.24% year-over-year; cash flow from operations was RMB 1.82 billion, down 14.61%.

• Company maintained a strong financial position with total assets of RMB 15.65 billion and an asset-liability ratio of 19.12%.

• Board proposed a cash dividend of RMB 4.00 per 10 shares, with total annual cash dividends expected to reach RMB 801.8 million, 44.4% of net profit.

Financial highlights

• Revenue: RMB 7.57 billion, down 5.09% year-over-year; net profit: RMB 1.81 billion, down 24.63%.

• Gross margin: 50.14%, down 1.22 percentage points year-over-year.

• Basic and diluted EPS: RMB 1.81, down 24.90% year-over-year.

• Net assets attributable to shareholders: RMB 12.54 billion, up 6.56% from prior year.

• Cash flow from operations: RMB 1.82 billion, down 14.61% year-over-year.

Outlook and guidance

• Company will focus on core businesses: respiratory therapy, blood glucose management, home health monitoring, clinical and rehabilitation solutions, and emergency solutions.

• Plans to increase R&D investment, optimize product structure, and accelerate internationalization.

• 2025 strategy emphasizes innovation, quality, and global market expansion.