Shenzhen Mindray Bio-Medical Electronics Co., Ltd (SHE: 300760) reported robust financial results for H1 2022, with revenues reaching RMB 15.3 billion (USD 2.24 billion), up 20.17% year-on-year (YOY). Net profits rose 21.71% YOY to RMB 5.28 billion (USD 773 million).
Business Segments
- In Vitro Diagnostics (IVD): Sales hit RMB 5.14 billion (USD 752 million), up 29.82% YOY, driven by overseas reagent demand recovery and strong product performance.
- Life Information and Support: Generated RMB 6.77 billion (USD 991 million) in sales, up 12.47% YOY, with minimally invasive surgery business doubling due to China’s new medical infrastructure and overseas high-end customer growth.
- Medical Imaging: Achieved RMB 3.26 billion (USD 620 million) in sales, up 22.20% YOY, boosted by resumed ultrasound procurement and uptake of new product lines.
R&D Investment
Mindray invested RMB 1.45 billion (USD 212 million) in R&D, a 25.01% YOY increase. The company has filed 7,955 patents, with 3,797 authorized, and holds 901 medical device certificates globally.-Fineline Info & Tech
