Yuyue Medical’s 1H 2020 Revenue Grows 36.74% to CNY 3.4 Bn
After the pandemic's high peak, the Chinese medical device manufacturer has come back to the 'new normal' at an escalated level.
Yuyue Medical (002223:SZ), the Jiangsu-based medical device maker, disclosed its 2020 semi-annual financials today. The company recorded revenue of CNY 3.4 billion and net profits of CNY 1.02 billion, 36.74% and 109.85% up, respectively.
The quarantine due to the COVID-19 pandemic has triggered considerable demand for family-use medical devices. During the first half-year, the top three most-sold categories were respiratory, detections and sterilization. Now other types of medical devices have gradually come up to balance the revenue structure further.
The company has also adopted an e-commerce strategy to establish an omnichannel presence. Meanwhile, it has expanded the overseas market exposure to Pakistan, Kazakhstan and China’s other neighboring countries, generating over CNY 130 million in revenue.
The company has also invested more in research and development (R&D) for customized family-use devices, with an ambition to conquer the consumer-oriented high-end medical devices market.