Medical device stocks rose in the afternoon. As of press release, Weigao shares (01066) rose 9.25% to HK$5.08; Elken Healthcare (01,789) rose 4.35% to HK$4.08; and minimally invasive robot-B (02252) rose 1.91% to HK$13.88.
The Zhitong Finance App learned that medical device stocks rose in the afternoon. As of press release, Weigao shares (01066) rose 9.25% to HK$5.08; Elken Healthcare (01789) rose 4.35% to HK$4.08; and minimally invasive robot-B (02252) rose 1.91% to HK$13.88.
According to the news, several medical device companies announced their annual results. Elken Healthcare's revenue in 2023 was 1,094 million yuan, up 4% year on year; it recorded a net profit of 182 million yuan, a decrease of 11.1%. Weigao Co., Ltd. announced the 2023 results of Weigao Orthopedics. Operating revenue was about 1,283.5 billion yuan, a year-on-year decrease of 37.63%; net profit was about 112 million yuan, a year-on-year decrease of 81.3%. Minimally Invasive Healthcare updated data. It is estimated that it will record a loss of no more than 650 million US dollars in 2023, compared with a loss of 588 million US dollars in the previous year.
CMB International pointed out that collection continues to be a major factor affecting China's high-value consumables business; growth expectations for Chinese medical device companies in 2024 have generally improved. In-hospital procurement and surgery requirements are quite rigid. With the normalization of industry regulation, in-hospital procurement and surgery volumes may gradually recover in 2024, and medical equipment companies and orthopedic companies are resilient in recovering their performance. Among them, the renewal of artificial joint collection contracts is expected to continue the previous moderate trend. It is expected that the price difference between companies will narrow, and the market share of leading domestic companies such as Elken Healthcare, Chunli Medical, and Weigao Orthopedic will continue to increase.