China-based Zhejiang Dian Diagnostics Co., Ltd (SHE: 300244) has released its financial report for the first half of 2023, recording revenues of RMB 6.842 billion (USD 938.7 million), marking a year-on-year (YOY) decrease of 36.37%. Net profits were reported at RMB 453 million, reflecting a significant YOY decrease of 75.89%.
Growth in Device Approvals and Product Portfolio
Despite the financial downturn, the company expanded its self-manufactured product portfolio with one Category III, two Category II, and 37 Category I device approvals during the period. Product business revenue reached RMB 4.343 billion, a YOY decrease of 8.38%. Excluding emergency business, the self-produced product business revenue increased by 50.65% YOY to RMB 229 million. The channel product business saw growth, with revenue rising 7.10% YOY to RMB 4.114 billion. The diagnostic service business, excluding emergency business, brought in RMB 2.727 billion, an increase of 23.73% YOY. Notably, ICL contributed RMB 2.478 billion, up 27.53% YOY after excluding emergency business.
Comprehensive Solutions and Strategic Partnerships
Dian Dx offers a comprehensive suite of solutions to its customers, including diagnostic products, services, supply chain optimization, information management, laboratory quality, cold chain logistics, intelligent warehousing, sample library management, and scientific research services. The company prides itself on providing professional, standardized, information-based, intensive, and large-scale services. Zhejiang Dian Diagnostics is also a pioneer in China for cooperating with county-level hospitals in second-tier cities to establish precision centers with Class 3 hospitals. As of the reporting date, the company holds 6 Category III and 29 Category II approvals. Additionally, it boasts a leading independent medical laboratory capable of conducting 3,300 testing programs and serving over 22,000 medical institutions.-Fineline Info & Tech
