Chimin Health Management Co.Ltd(603222) ( Chimin Health Management Co.Ltd(603222) ) disclosed the annual report of 2021 on March 23. Last year, the company achieved an operating revenue of 1.098 billion yuan, an increase of 25.16% year-on-year. Thanks to the improvement of the company’s medical device business, the company achieved a net profit of 148 million yuan last year, a significant year-on-year increase of 220602%, and a net profit of 111 million yuan after non deduction, a year-on-year increase of 393.08%. A cash dividend of 0.90 yuan (including tax) will be distributed for every 10 shares converted into 4 shares.
Chimin Health Management Co.Ltd(603222) said that during the reporting period, the company achieved a high profit growth rate and the overall financial situation was good. However, there is still a certain capital gap in the projects under construction, and the company must retain sufficient funds to fully ensure the stable operation and healthy development of the company.
It is understood that Chimin Health Management Co.Ltd(603222) main business includes three business segments: R & D, production and sales of medical devices, medical service business, and R & D, production and sales of large infusion series products. In the context of the normalization of global epidemic prevention and control, the company’s business has been affected to varying degrees. On the one hand, due to the strengthening of protective measures, the number of outpatients and inpatients in the hospital has decreased, and the demand for medicine and medical services has decreased; On the other hand, with the spread of the global epidemic, the demand for covid-19 testing and vaccine injection has increased, driving the growth of the demand for medical devices.
According to the annual report, during the reporting period, Chimin Health Management Co.Ltd(603222) focused on the development strategy of medical devices and medical service industry with the “big health industry” as the main line, seized the market opportunity, timely expanded the production capacity of safety syringes (needles), achieved a record high production and sales volume of safety syringes (needles), and driven the overall performance of the company to achieve a significant growth.
In terms of breakdown, the contribution of Chimin Health Management Co.Ltd(603222) various business segments to the performance is different. Among them, the medical device business achieved an operating revenue of 591 million yuan, a year-on-year increase of 52.21%; The medical service business realized an operating revenue of 244 million yuan, a year-on-year increase of 10.50%; The large infusion business realized an operating revenue of 260 million yuan, which was basically the same as that of the previous year.
It is worth mentioning that the sales of safety syringes (needles) produced by Jumin biology, a wholly-owned subsidiary of Chimin Health Management Co.Ltd(603222) reached about 600 million throughout the year, an increase of 138.94% over the same period of last year; The net profit was 152 million yuan, an increase of 193.33% over the same period last year Chimin Health Management Co.Ltd(603222) said that in order to meet the market demand, Jumin biology invested and built four safety syringe (needle) production lines in 2021. By September 2021, after the above four new production lines are put into operation, the company’s safety syringe (needle) production capacity will be increased to 850 million pieces / year. During the reporting period, under the condition of continuous full production and full sales, the timely expansion of production capacity provided a basic guarantee for the substantial growth of Chimin Health Management Co.Ltd(603222) performance.
At the same time, in September 2021, Chimin Health Management Co.Ltd(603222) received the product registration certificate of pre filled catheter rinser issued by the State Drug Administration, and then started the construction project with an annual output of 250 million pre filled catheter rinser. The first phase of the project has a capacity of 50 million tubes / year, which is expected to be put into operation in the second quarter of 2022. The company said that at present, a special sales team has been established for the project, and the core members have many years of marketing experience in the pre filled catheter washer. In the future, the pre filled catheter washer is expected to become an important profit contribution point of the company.
In addition, Chimin Health Management Co.Ltd(603222) in 2021, the new hospital of Ezhou No. 2 hospital, a fixed increase in capital and raised capital investment project, was delayed due to the impact of the epidemic, which failed to achieve the goal of opening by the end of 2021. It is understood that up to now, the internal decoration, supporting facilities construction and equipment commissioning of the project are accelerating. The company said that it will strive to open the new hospital of Ezhou No. 2 hospital as soon as possible and become a new performance growth point of the company.
