Weisi Medical (688580.SH) Reports 2020 Net Profit Up 44.07% Year-over-Year to RMB 144 Million

Gelonghui, February 22 |VISHEE(688580.SH) disclosed its 2020 annual performance flash report, with the company’s total operating revenue for 2020378 millionyuan, a year-on-year increase of 18.66%; operating profit165 millionyuan, a year-on-year increase of 43.76%; total profit166 millionyuan, a year-on-year increase of 44.67%; net profit attributable to owners of the parent company144 millionyuan, a year-on-year increase of 44.07%, net profit attributable to owners of the parent company after deducting non-recurring gains and losses128 millionyuan, a year-on-year increase of 35.82%; basic earnings per share amounted to RMB 2.46.

In 2020, the Company effectively mitigated the adverse impacts of the pandemic, maintaining a positive growth trajectory in its business operations. The Company continued to increase R&D investment, adhering to an innovation-driven strategy. Positive progress in core markets drove growth in product sales volume. Meanwhile, the Company strengthened cost management and reduced operating expenses, laying a solid foundation for sustained business growth.

Operating profit increased by 43.76% year-on-year, total profit increased by 44.67% year-on-year, net profit attributable to shareholders of the parent company increased by 44.07% year-on-year, and net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses increased by 35.82% year-on-year. The primary reasons were that the impact of the pandemic on the Company’s core business gradually weakened during the reporting period, leading to a restoration of growth; revenue from magnetic stimulation products grew significantly; and strengthened cost management and expense control, along with improved operational efficiency, ensured the Company’s sustained profit growth.