WEIGAO GROUP (01066): Shandong Weigao Orthopaedic Device (688161.SH) achieved a net profit attributable to the parent of 222 million yuan in 2024, an increase of 97.49% year-on-year.

WEIGAO GROUP (01066) released the 2024 performance report of Shandong Weigao Orthopaedic Device Material Co., Ltd. (688161.SH), with a total operating income of 1.452 billion yuan, a year-on-year increase of 13.14%; net profit attributable to owners of the parent company was 222 million yuan, a year-on-year increase of 97.49%; basic earnings per share were 0.55 yuan. The announcement stated that during the reporting period, the company actively implemented the orthopedic consumables quantity procurement policy, reorganized product lines, optimized cost control, expanded diversified market channels, and strengthened cooperation with medical institutions to comprehensively increase market share and customer coverage. The company promoted the transformation of sales models, built synergistic sales capabilities focusing on key surgical procedures, enhanced clinical service capabilities, implemented a major customer strategy, optimized product structure, promoted synergistic sales, and increased gross profit margin. Meanwhile, new business lines steadily developed, overseas product registrations landed, and brand influence gradually increased. In addition, the company strengthened refined performance management, optimized marketing structure and inventory management, improved supply chain efficiency, reduced sales expense ratio, and achieved performance growth in the reporting period. During the reporting period, the company's operating profit was 272 million yuan, an increase of 107.61% over the same period last year, total profits were 271 million yuan, an increase of 105.88% over the same period last year, net profit attributable to owners of the parent company was 222 million yuan, an increase of 97.49% over the same period last year, and net profit attributable to owners of the parent company excluding non-recurring gains and losses was 212 million yuan, an increase of 96.29% over the same period last year. The main reason was the steady implementation of the orthopedic consumables quantity procurement policy during the reporting period, active adjustment of business strategies by the company, comprehensive increase in market share and customer coverage, and achievement of performance growth in the reporting period.