China-based cardiovascular disease solutions provider Lepu Medical Technology (Beijing) Co., Ltd (SHE: 300003) has released its financial report for 2023, reporting revenues of RMB 7.98 billion (USD 1.1 billion), a decrease of 24.78% year-on-year (YOY). The net profit attributable to shareholders of the listed company was RMB 1.26 billion (USD 170 million), down 42.91% YOY.
The medical device segment recorded revenues of RMB 3.67 billion, a decline of 37.5% YOY. The in vitro diagnostic business had seen significant sales from emergency rapid testing kits and PCR equipment in the same period of the previous year. Excluding the in vitro diagnostic business, the segment’s operating revenue increased by 6.7% compared to the same period last year. The pharmaceutical sector’s operating revenue was RMB 3.04 billion, down 11.47%, with formulated drugs recording an operating income of RMB 2.63 billion, a decrease of 11.9% YOY. Active pharmaceutical ingredients saw an operating revenue of RMB 410.63 million, down 8.6% YOY. The medical services and health management sector achieved revenues of RMB 1.26 billion, a decrease of 2.37% YOY, with Hefei High-Tech Cardiovascular Hospital’s revenue increasing by 42.45% YOY. Excluding emergency-related revenue, the sector’s operating revenue increased by 6.53% YOY.
As of December 31, 2023, Lepu Medtech holds 609 medical approvals in China, including Class II and Class III, 241 CE marks, and 33 FDA certifications.
Looking ahead, Lepu Medtech will focus on several sectors: ① Active equipment and passive consumables for various subfields of cardiovascular implant intervention, including coronary intervention, peripheral implant intervention, electrophysiology, etc.; ② Tissue regeneration engineering and plant intervention with development platforms for hydrogels, animal source patches, collagen, etc.; ③ Biodegradable materials and plant intervention with approvals and launches of coronary bioabsorbable stents, biodegradable occluders, and biodegradable patent foramen ovale occluders in China; ④ Artificial intelligence (AI) in cardiovascular disease applications, with AI integration in monitoring vital signs, detecting blood biomarkers, and medical imaging related to cardiovascular transplantation in chronic disease patients.- Flcube.com
