Xintai Medical (02291) announced that the Group expects to acquire the company for the year ending December 31, 2023...
Zhitong Finance App News, Xintai Healthcare (02291) issued an announcement. The Group expects to obtain a net profit of about RMB 140 million to approximately RMB 160 million for the year ended December 31, 2023, and a loss attributable to the company owner of RMB 19.8 million for the year ended December 31, 2022. Non-IFRS profit is estimated to be approximately RMB 160 million to approximately RMB 180 million, compared to approximately RMB 111 million for the year ended 31 December 2022.
According to the announcement, the expected increase in net profit attributable to shareholders is mainly due to the following reasons: (1) The sales volume of the Group's new-generation nickel-titanium alloy blocking products during the reporting period increased significantly compared to the year ended December 31, 2022. This growth was driven by the Group's forward-looking R&D strategic thinking, strong marketing capabilities, effective academic promotion and extensive dealer network, which further increased the market sales volume of such products; and (2) in view of the Group's R&D innovation strategy, (i) the Memosorb fully degradable blocker system, which obtained the China National Drug Administration Drug Evaluation Center registration certificate in February 2022; and (ii) the Memosorb biodegradable egg pore unsealed occlusion device, which obtained the CDE registration certificate in September 2023. The innovative product achieved better sales performance during the reporting period compared to the year ended December 31, 2022.
The company believes that the Group will maintain and expand its strong business performance and strive to bring better returns to shareholders throughout 2024.