Blue Sail Medical Forecasts over 155.74% Net Profit Growth in 2020 H1
The Chinese surgical masks provider has stumbled into a 'golden time' as the COVID-19 pandemic continues.
Blue Sail Medical (002382:SZ) announced its semi-annual revenue forecast, with an expected net profit from CNY 600 million to CNY 750 million, or 155.74% – a 219.68% increase compared to the first half of 2019.
The company explained that, because the continued COVID-19 significantly increased the urgent demand for surgical protective products, it has received a soaring number of orders of medical and protective gloves, masks and suits.
Founded in 2002, the Shandong-based medical device company engages in the production of low- and high-value consumables. Its star product, PVC (Polyvinyl Chloride) gloves, represents 22% of the global market, with a 2019 output of approximately 15 billion, according to the company.