htmlOn the evening of October 24, Yuyue Medical released its 2022 third quarter report, with revenue of 5.116 billion, a decrease of 3.65% from the same period last year; net profit of 1.135 billion, a decrease of 15.99% from the same period last year.
This is the first third-quarter report with a decline in performance in the company's nearly 15 years since its listing.
Data source: Tonghuashun iFind, drawing: Poetry and Starry Sky
What happened to the company?
actually doesn’t have to worry, because starting from 2022, a large number of listed medical and pharmaceutical companies will experience similar situations: their performance has declined significantly.
Because of the core business of this type of company, it is closely related to the new crown epidemic.
Yuyue Medical's performance surge stems from the surge in demand for ventilator business starting in 2020, especially the huge demand for medical and household ventilators overseas. The sales of ventilators of Mindray , Yuyue and other related companies hit a new high.
Considering that the third quarter report data is not comprehensive enough, taking the semi-annual report as an example, the company's respiratory equipment sales fell from 1.3 billion in the same period last year to 1.1 billion in the 2022 semi-annual report.
In addition to respiratory equipment, the company's other sectors are basically growing.
Data source: Tonghuashun iFind, drawing: Poetry and Starry Sky
Respiratory treatment plan achieved operating income of 1.1 billion yuan, a year-on-year decrease of 16.9%;
household electronic detection and in vitro detection achieved operating income of 810 million yuan, a year-on-year increase of 27.4%;
rehabilitation and clinical equipment achieved operating income of 650 million yuan, a year-on-year decrease of 13.1%;
infection control solution achieved operating income of 630 million yuan, an increase of 40.9% year-on-year;
diabetes care solution achieved operating income of 280 million yuan, an increase of 35.3% year-on-year;
first aid achieved operating income of 63.9 million yuan, a decrease of 32.1% year-on-year;
Yuyue’s old business is blood pressure instrument and glucose instrument . Judging from the semi-annual report data, most routine businesses have maintained normal positive growth.
Almost all medical and pharmaceutical industries related to the epidemic have begun to encounter similar situations, but their respective situations are not exactly the same. For example, in the field of COVID-19 testing, overseas business is still booming, and the raw material business related to COVID-19 treatment drugs is also in full swing.
But overall, the explosive growth of overseas exports has entered a period of decline, gradually becoming a normalized overseas sales, forming a short-term suppression effect on the performance of such listed companies.
According to the company's semi-annual report, in recent years, overseas business has continued to improve after the catalysis of the epidemic, the marketing capabilities of have continued to improve, the export channels have continued to expand, and the system elements of Yuyue have become more sound. In addition, the company has set up R&D centers in Tutlingen, Germany, Taipei , Shanghai, Nanjing, Suzhou , Tibet and Danyang , focusing on the three core tracks of respiration and oxygen production, blood sugar and POCT, disinfection and sensing control, and actively incubating high-potential businesses such as first aid, ophthalmology, and intelligent rehabilitation, covering products in multiple fields.
