January 10, 2024VISHEE (688580)Published the "Record of Investor Relations Activities," which provided a detailed introduction and answers regarding the company's performance, product layout, and market strategy.When discussing the synergy between the optoelectronic medical aesthetics business currently being developed and the existing pelvic floor business, the company statedMedical Beauty Energy Source ProductsThe overall logic of expansion isFocus on clinically effective and registration-compliant productsCarry out the layout, toDomestically Produced Replacing Imported, Compliance Replacing Non-ComplianceAs the main logical thread, providing women with mainstream medical beauty solutions such as private health, body restoration, and skin treatment, which can meet diversified needs in the fields of pelvic floor, women's health, body, and skin across gynecology, dermatology, medical aesthetics, and lifestyle beauty scenarios.▲VISHEE Medical Announcement Partial Screenshot# VISHEE Medical Q&A Review#Can the company achieve the 2023 equity incentive target?A: The company's financial data for the year 2023 is still in the process of being calculated. The annual report for 2023 will be disclosed on April 26, 2024. For more details, investors are advised to pay attention to the subsequently disclosed financial data.# How are the company's performance expectations for 2024?A: According to the company's 2023 Restricted Stock Incentive Plan, the performance assessment targets at the company level for 2024 are that the company needs to meet one of the following two conditions: 1. Based on the 2022 revenue, the revenue growth rate in 2024 shall be no less than 80%; 2. Based on the 2022 net profit, the net profit growth rate in 2024 shall be no less than 110%. The company will strive to achieve the equity incentive assessment targets for 2024.# Can you briefly introduce the next development layout of the company's rehabilitation specialty business?Answer: As a medical device company in the rehabilitation industry that went public relatively early, the company has previously focused more on the pelvic floor and postpartum rehabilitation and mental psychological rehabilitation markets. In comparison, the overall scale of revenue related to the rehabilitation treatment department is relatively small.After the company's IPO, it has continued to increase the layout of core products in the rehabilitation specialty, enriching the company’s product portfolio in this field. Currently, a comprehensive "Rehabilitation Loop" solution has been launched for rehabilitation departments in tertiary hospitals, covering areas such as neuromodulation, critical care rehabilitation, sports rehabilitation, pelvic floor rehabilitation, and psychological cognitive rehabilitation. Going forward, more high-quality solutions tailored to clinical needs will be introduced for the development of sub-specialty rehabilitation services. This will further enhance the multi-dimensional and fully-covered channel system, promoting robust growth in the foundational rehabilitation specialty business.# May I ask what product layouts does your company have in the field of pediatric rehabilitation?A: In the fields of children's neurodevelopment and mental psychological rehabilitation, the company has developed a mature solution for children's rehabilitation, providing safe and effective non-drug rehabilitation treatment for children. The current product portfolio includes transcranial magnetic stimulators for children, bio-stimulation feedback devices, multi-parameter biofeedback devices, and more. In the future, the company will also...Actively deploying in the fields of children's dedicated group biofeedback devices and cognitive dysfunction software, which can be used for rehabilitation treatments such as autism, ADHD, cerebral palsy, and developmental delays, supporting children's healthy growth.#How will the company continue its growth in the psychiatric and neurorehabilitation business, which performed well in the first three quarters of 2023?Answer: Mental rehabilitation has always been one of VISHEE's core strengths. Since the company’s founding in 2001, VISHEE entered the psychiatric field and has now become one of the companies with the most comprehensive range of psychiatric medical devices in China. Moving forward, VISHEE will continue to expand its coverage and increase market penetration, particularly by seizing opportunities in pediatric mental health rehabilitation and the development of private psychiatric hospitals. In the narrow sense, rehabilitation services refer to neurorehabilitation, physical rehabilitation, etc., mainly targeting stroke and elderly patient populations. This part of VISHEE’s business previously had a smaller revenue scale, but going forward, we will leverage the advantages of our dedicated transcranial magnetic stimulation (TMS) rehabilitation device, combining it with rehabilitation electrotherapy and rehabilitation training equipment for bundled sales. We aim to accelerate the strategic layout of our core products, enrich our product portfolio, and quickly develop a premium solution package tailored for the rehabilitation department.#Energy-based medical devices are an important R&D pipeline for the company. What competitive advantages do the company's products have?Answer: At present, the National Medical Products Administration (NMPA) has increasingly stringent compliance policy requirements for medical devices, especially for medical aesthetics devices. As a listed company, VISHEE has invested substantial resources in verifying the clinical efficacy and compliance of its products. In China, we will fully consider clinical needs and solutions, technically keeping pace with or even surpassing imported brands. Through our cost advantages and channel promotion strengths, we aim to expand our market presence and capture market share.# Does the photomedicine aesthetics business laid out by your company have synergy with the original pelvic floor business?Answer: In the development of energy-based medical aesthetic products, the company’s overall logic is to focus on clinically effective and registration-compliant products. The main strategy is to replace imported products with domestically produced ones and non-compliant products with compliant ones. It provides mainstream medical aesthetic solutions for women, including intimate health, body contouring, and skin treatment, which can meet diverse needs such as pelvic floor, female health, body, and skin across scenarios like obstetrics and gynecology, dermatology, medical aesthetics, and lifestyle beauty.The "Outline for the Development of Chinese Women (2021-2030)" clearly states that a comprehensive health management model for women throughout their entire life cycle should be established. It aims to provide all-around health management services catering to the health needs of women in adolescence, childbearing age, pregnancy and childbirth, menopause, and old age.In order to achieve this goal, VISHEE has been committed to building a women's full life cycle health management center, establishing service modules with distinctive features such as postpartum rehabilitation, pelvic floor rehabilitation, and light medical aesthetics. These modules target perinatal and perimenopausal women as important groups, extending from pelvic floor functional rehabilitation to multi-dimensional fields including intimate care, body shaping, and skin care, to meet the diverse needs of different mothers and beauty seekers.#What is the current status of the company's share repurchase?A: As of December 31, 2023, Nanjing Vishee Medical Technology Co., Ltd. has cumulatively repurchased 100,000 shares through centralized bidding on the Shanghai Stock Exchange, accounting for 0.1457% of the company’s total share capital of 68,623,867 shares. The highest price for the repurchased shares was RMB 65.88 per share, and the lowest price was RMB 61.60 per share. The total amount of funds paid was RMB 6,411,421.50 (excluding stamp duty, transaction commissions, and other transaction fees). Going forward, the company will make and implement repurchase decisions based on market conditions within the repurchase period and will fulfill its information disclosure obligations in a timely manner according to the progress of the share repurchase.VISHEE was founded in 2001 and is mainly engaged inResearch, Development, Production and Sales of Medical Devices, with innovation in R&D as the driving force for development, continuously investing inElectrical Stimulation, Magnetic Stimulation, Electrophysiology, Rehabilitation Robots, Medical Aesthetic Energy DevicesAdvanced technology research and development in various fields, while improving product layout. The company is committed to ushering in a new era of rehabilitation through pulsed magnetic technology and rehabilitation robots, aiming to become a leading supplier in the rehabilitation field in China. It also strives to be a global leader in the magnetic stimulation field.Comprehensive Layout of Picosecond Lasers, Radio Frequency (Intimate, Fat Dissolving, Anti-Aging), and Body Shaping Magnets。In the first three quarters of 2023, the company achieved a total operating revenue of 332 million yuan, representing a year-on-year increase of 53.19%; net profit attributable to shareholders of the listed company was 102 million yuan, marking a year-on-year increase of 63.56%, and the net profit attributable to shareholders of the listed company excluding non-recurring gains and losses was 91 million yuan, reflecting a year-on-year increase of 89.49%.
Editor-in-Chief | Zhao Qing Reviewed by | Yi He
