HK Stock Market Move | Beijing Chunlizhengda Medical Instruments (01858) fell more than 5% due to the impact of centralized procurement policy. The company's net profit last year decreased by 55% year-on-year.

Beijing Chunlizhengda Medical Instruments (01858) fell by more than 5%, dropping 5.13% to HKD 8.7 with a turnover of HKD 2.8645 million at the time of writing. In terms of news, Beijing Chunlizhengda Medical Instruments released its 2024 annual performance report, with total operating income of RMB 806 million, a year-on-year decrease of 33.32%; net profit attributable to shareholders was RMB 125 million, a year-on-year decrease of 55.01%; and basic earnings per share were RMB 0.33. The announcement stated that during the reporting period, the company's total operating income decreased by 33.32% year-on-year, mainly due to the company actively implementing the national centralized volume-based procurement policy. In the renewal procurement when the national organization's artificial joint centralized volume-based procurement agreement expires, the joint products are all successfully bid. In the national organization's centralized volume-based procurement of artificial crystals and sports medicine medical consumables, sports medicine products are all successfully bid, leading to a decrease in the company's product prices and revenue.