Net profit of 14 billion in the first quarter! Jiuan Medical's performance soared

Since the outbreak of the epidemic, overseas markets have increased import orders for medical protective equipment. Under this circumstance, many cross-border medical sellers have received orders from overseas, and Jiuan Medical is one of them. Recently, Jiuan Medical released its first quarter 2022 performance forecast and 2021 full-year performance express report, and then the company's stock price rose to the daily limit.

Net profit exceeds 14 billion, iHealth's performance soars

On April 12, Jiuan Medical released its performance forecast for the first quarter of 2022. Data showed that Jiuan Medical's profit in the first quarter of 2022 was between 14 billion yuan and 16 billion yuan, an increase of 36,707.43% to 41,965.63% year-on-year , while the profit in the same period last year was 38.0358 million yuan.

Net profit after deducting non-recurring gains and losses was 14 billion to 16 billion yuan, an increase of 738,452.44% to 843,959.93% over the same period last year, and the profit in the same period last year was 1.8956 million yuan. Public data shows that in the first quarter of 2021, these data of Jiuan Medical were still negative year-on-year.

In the first quarter of this year, judging from the published performance forecast, many of iHealth's growth data were very impressive, equivalent to earning about 15 times the total profit of the past decade in one quarter .

In the announcement, iHealth said that due to the development of the epidemic in the United States, the local demand for COVID-19 antigen test kits has increased significantly. During the reporting period, the sales of iHealth COVID-19 antigen test kits from iHealth's US subsidiary made an important contribution to the company's performance growth .

Due to the popularity of self-testing at home abroad, the demand for test kits by foreign consumers has continued to increase. In addition, the speed and convenience of self-testing test kits have become an important advantage for the product to open up sales. In addition to test kits, sales of other products of Jiuan Medical are also increasing overseas. However, in China, Jiuan Medical's market needs to be further opened up. This year, the new crown antigen test reagents of many domestic companies have been approved for listing, but Jiuan Medical is not there.

It is understood that due to the high sales volume of iHealth coronavirus antigen testing kits on e-commerce platforms, iHealth Medical's products are mainly sold through e-commerce platforms such as Amazon. In addition, iHealth has also signed major orders with customers to expand sales channels. The 8.1 billion order that attracted attention in the industry came from this.

At the same time, iHealth also pointed out in the report that due to factors such as the unpredictable development of the epidemic, the advancement of vaccination plans, changes in market demand, and changes in the market competition environment, there is still uncertainty as to whether future performance can continue to maintain rapid growth.

While announcing its first quarter results, iHealth also released its 2021 performance report. Although it was slightly inferior to the first quarter of 2022, it was still impressive compared to 2020.

iHealth's 2021 revenue exceeds 2.5 billion yuan

Specifically, iHealth's total operating revenue in 2021 reached 2.513 billion yuan, a year-on-year increase of 25.11%, operating profit of 1.021 billion yuan, a year-on-year increase of 328.05% , net profit attributable to shareholders of the listed company was 913 million yuan, a year-on-year increase of 276.87% , and net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 832 million yuan. All figures have achieved significant growth.

This is only the preliminary accounting data for iHealth, and the final data may be different. The specific data will be subject to the annual report to be published later.

Regarding this growth, iHealth said that the main reason was that due to the impact of the epidemic, the company's revenue from COVID-19 antigen test kits in the United States has increased significantly, and profits have also increased year- on-year. iHealth used its many years of experience in IVD (in vitro diagnostic products) and FDA applications, while leveraging the geographical advantages of its US subsidiary iHealth , and obtained the authorization for the US COVID-19 home self-test kit last year.

In addition to the large orders at the beginning of this year, iHealth -related products are also often on the best-selling list on the Amazon platform. i Health 's products include forehead thermometers, blood pressure monitors, blood oximeters, test kits and other medical products. Among them, the forehead thermometer was released in September 2017, and the cumulative global sales in 2020 have exceeded 4 million.

The situation in the United States is the most serious in the global epidemic, and Amazon's epidemic-related products have also ushered in a peak period of explosive orders. Forehead thermometers and test kits are common household products during the epidemic, and the demand has increased significantly. Both are popular products of iHealth .

It is reported that in July 2020, iHealth 's forehead thermometer products achieved an excellent sales volume of more than 20,000 units on Amazon in a single day . In 2021, thanks to the iHealth home test kit, Jiuan Medical's order volume soared, and its products won the Best Seller ranking in multiple categories on Amazon . iHealth once topped the Amazon US store list.

The "iHealth" trademark has currently obtained registration certificates in many countries and regions, is sold in multiple mainstream channels, and has a wide commercial network coverage, forming a good brand effect. The recognition and repurchase rate of the company's brand by domestic and foreign customers continues to increase.

While the sales of iHealth and its series of epidemic prevention-related products in the global market have increased significantly, iHealth Medical's reputation and visibility at home and abroad have also been further enhanced.

Recognized by Harvard Medical School, Jiuan Medical's strength stands out

Tianjin Jiuan Medical Electronics Co., Ltd. was established in 1995 and listed on the Shenzhen SME Board on June 10, 2010. In the same year, it created its own innovative brand "iHealth" during its transformation to mobile Internet. In addition, the company's e-commerce products include iHealth blood pressure monitors, iHealth blood pressure monitors, etc., as well as wearable devices for personal health.

It is understood that the products of iHealth's US subsidiary are mainly sold on its own platform and Amazon, and often rank at the top of Amazon's list.

In February this year , Harvard Medical School in the United States compared the performance of rapid antigen test kits from three mainstream brands, and iHealth was one of them.

The COVID-19 antigen test kit can achieve single-person on-site testing without any additional instruments and equipment, and provide reliable test results in 15 minutes. iHealth, made in China, is not inferior to overseas brands at all. It can be said that iHealth's popularity overseas has also provided a model for brands to go overseas.

It is understood that the iHealth COVID-19 antigen test kit has been distributed free of charge to tens of millions of American households through the US government's distribution plan. The report shows that although the kits of various brands performed well on the test sample set, the iHealth kit has higher sensitivity and the best distinction between positive and negative test results.

In addition to other medical products in the industry, many Internet giants are now trying to enter the field of Internet medical care. With the continuous development of sub-sectors, Jiuan Medical will face greater market competition. At the same time, with the gradual easing of the global epidemic, consumer demand for products such as test kits will also decline. Jiuan Medical faces many challenges in its future development.

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