Kangjie Medical Reports 190.66% Net Profit Surge in 2020 Amid Reduced Exhibition Expenses Due to Pandemic

Source: Wabei.com

Wabei.com, April 25 – Kangjie Medical (430521) recently released its 2020 annual report. During the reporting period, the company achieved operating revenue of RMB 51,484,630.49, a year-on-year decrease of 8.47%; the net profit attributable to shareholders of the listed company amounted to RMB 10,122,619.25, representing a year-on-year increase of 190.66%.

During the reporting period, the net cash flow from operating activities amounted to RMB 2,525,631.64, and the net assets attributable to shareholders of the listed company stood at RMB 54,145,475.22 as of the end of 2020.

During the reporting period, the operating revenue amounted to RMB 51.4846 million, representing a year-on-year decrease of 8.47%. This change was primarily attributable to a reduction in company orders due to the impact of the epidemic, particularly a significant decline in orders for ophthalmic medical supporting products.

Operating costs for the current period amounted to RMB 36.7546 million, representing a year-on-year decrease of 12.31%. This decline exceeded the decrease in operating revenue, resulting in an increase in gross profit margin compared to the same period last year. The primary reasons for this change were as follows: Due to the impact of the pandemic, the company experienced a reduction in orders, particularly for its ophthalmic medical supporting products. During the reporting period, sales were primarily concentrated on proprietary ophthalmic products, which carried higher gross profit margins.

Selling expenses for the current period amounted to RMB 1.2084 million, representing a year-on-year decrease of 28.02%. The change was primarily attributable to the impact of the pandemic, which led to a reduction in the Company’s exhibition fees.

Operating profit amounted to RMB 11.1321 million, representing a year-on-year increase of 218.79%. The primary reasons for this change were the recovery of long-outstanding accounts receivable, the reversal of credit impairment losses, and an increase in government grants received during the reporting period.

According to data from Wabei.com, Kangjie Medical is a high-tech enterprise primarily engaged in the field of optometry and ophthalmology, integrating research and development, production, and sales.