Mocular Medical Reports 15.41% Net Profit Growth in 2020 Amid Strong Demand for Ophthalmic Medical Products

Source: Wabei.com

Wabei.com, March 26Mocular Medical(832652) Recently released its 2020 annual report. During the reporting period, the company achieved operating revenue of RMB 86,061,844.36, a year-on-year increase of 36.67%; the net profit attributable to shareholders of the listed company was RMB 18,380,313.90, a year-on-year increase of 15.41%.

During the reporting period, the net cash flow from operating activities was -3,532,331.29 yuan, and as of the end of 2020, the net assets attributable to shareholders of the listed company amounted to 101,381,456.92 yuan.

In 2020, the Company achieved operating revenue of RMB 86.0618 million, representing an increase of RMB 23.0911 million, or 36.67%, compared to RMB 62.9707 million in the same period of the previous year. Among this, revenue from product sales amounted to RMB 81.0559 million, an increase of RMB 22.6915 million, or 38.86%, compared to RMB 58.3944 million in the same period of the previous year; revenue from technical services amounted to RMB 4.4274 million, a decrease of RMB 0.1489 million, or 3.25%, compared to RMB 4.5763 million in the same period of the previous year. The year-over-year growth in the Company’s operating revenue was primarily attributable to increased investment in product research and development, intensified market expansion efforts, and further penetration into both domestic and international markets, which collectively drove a substantial increase in turnover.

The Company achieved an operating profit of RMB 20.3565 million, an increase of RMB 2.7742 million, or 15.78%, compared to RMB 17.5823 million in the same period last year. Net profit amounted to RMB 18.0776 million, an increase of RMB 2.4728 million, or 15.85%, compared to RMB 15.6048 million in the same period last year. The increase in net profit was primarily attributable to the Company’s R&D investment in its product portfolio, which enhanced both the market competitiveness of its products and the Company’s profitability. Amidst growing demand for ophthalmic medical products, the Company plans to further increase its R&D investment in the future, particularly in the development of ophthalmic surgical microscopes, motorized phoropters, digital portable slit lamps, optical coherence tomography (OCT) scanners, and intelligent corneal topographers. This strategy aims to provide customers with a more comprehensive product system, strengthen market competitiveness, and thereby improve the Company’s profitability.

Financial expenses during the period amounted to RMB 11,249,456.08, representing a year-on-year decrease of 0.66%, primarily attributable to interest expenses incurred from new short-term borrowings by the subsidiary Hangzhou Aishijie Medical Device Co., Ltd. and new long-term borrowings by Hangzhou Linhui Technology Co., Ltd.

According to data from Wabei.com, Mocular Medical is a high-tech enterprise integrating R&D, production, sales, and services of ophthalmic big-data cloud-based consultation services, medical informatics integration systems, and digital ophthalmic equipment, providing users with rational and high-quality visual health solutions.