——Reprinted from Daily Economic News
"To be frank, 2023 is a very difficult and changeable year for Robust. We are not very satisfied with this answer, but it is really a hard won answer." On the afternoon of May 8, Li Jianquan, chairman of Robust Medical, said at the performance briefing.
In 2023, Robust Medical will achieve an operating revenue of 8.19 billion yuan, and a net profit attributable to shareholders of listed companies of 580 million yuan. In the first quarter of this year, the revenue and net profit were 1.909 billion yuan and 182 million yuan respectively, both of which fell significantly compared with the same period last year. The difficulties mentioned by Li Jianquan are obvious to all. In 2023, the macro environment will be full of challenges, the demand for infection prevention products will drop significantly, and the consumer market will be stratified and changeable, all of which will have a huge impact on the production and operation of sound medical care.
When the whole industry chain is facing a cold winter, how does robust medical care as the leader go through the cycle? When will the performance which has been falling for several consecutive years reach the bottom and rebound? The overall recovery in the consumer market, consumption stratification, happy and reasonable Under the trend of coexistence of sex, how will the medical and consumer sectors become "two wheel driven"? In this performance presentation meeting The senior executives of Robust Healthcare responded to many questions from investors and gave true answers.
Adhere to the strategic cycle of "leading products and excellent operation"
The main business of Robust Medical is composed of medical consumables and healthy living consumables. In 2023, the income of medical consumables will be 3.861 billion yuan, down 46.74% year on year. It accounted for 47.18% of the company's revenue, and the revenue from healthy consumer goods was 4.263 billion yuan, up 6.36% year on year.
In terms of products, the demand for infection prevention products decreased significantly from the second quarter of last year, and the annual revenue of this category decreased by 3.82 billion yuan, or 80.7%, on a year-on-year basis under the condition of high market inventory and low dynamic sales. In addition, the business of conventional medical consumables has developed steadily.
Li Jianquan said that in 2023, the whole industrial chain of infection prevention products will face the problem of excess inventory. On the one hand, the company will resolutely and efficiently clean up the inventory and dispose of equipment. On the other hand, in order to ensure the sustainable development of the company's industrial chain, the company will actively work with suppliers, dealers and customers to digest the inventory, seek a common way out and share the pressure. In the whole year, the above related treatment reduced the net profit by about 250 million yuan Nearly half of the company's net profit last year.
"Many medical enterprises have a certain inventory pressure, but we did not transfer the inventory to our dealers, partners, especially hospitals and pharmacies. On the contrary, we helped them to deal with the inventory in a large area. Although the profits were greatly reduced, we won the trust and reputation of all partners, including hospitals and pharmacies, and won the market. ”Li Jianquan said proudly that the core principle of the company last year was to always regard the difficulties of partners as the difficulties of stabilizing themselves. If the obstacles in front of sales are not solved, the sales in the future will be almost impossible. So the company invested a lot of energy in inventory. Under such circumstances, it is not easy for conventional products to achieve double-digit growth.
For the consumer goods sector, he also said that consumption is cautious and "reasonable" "Sex" does not mean low price, "reason" The core of "sex" should be the value for money. Because of this, it is prudent to always maintain strategic concentration, adhere to product leadership, adhere to the development of the whole cotton category, adhere to discount control, and adhere to providing consumers with high-quality and differentiated cotton products at reasonable prices.
Li Jianquan also said that facing the current situation The problem we need to solve in the environment of sexual consumption is not to cater to short-term trends, but to create comfortable, healthy and environmentally friendly products for consumers with heart and action. Steady will not cater to The cost performance ratio is to reduce the product quality to reduce the production cost, and the price will not be cut casually.
Significant progress of domestic substitution
As shown in the annual report, excluding infection prevention products, the operating revenue of conventional medical consumables business was 2.95 billion yuan, and that of consumer goods business was 4.26 billion yuan, up 17.3% and 6.4% year on year, respectively, reflecting the tenacity of long-term development of stable medical care Sex.
Zhang Yan, the rotating CEO of Robust Medical, said that in the past three years of public health emergencies, the company made every effort to ensure the supply of protective materials. While making due contributions to the society, the brand awareness and reputation were highly improved, and the channel construction was further consolidated. Driven by the strategy of "leading products and excellent operation", the sales growth of a variety of core items, including surgical kits, film applications, oral and nasal cavity, incontinence care categories, exceeded 35% year on year.
Previously, Robust Healthcare acquired Longtai Healthcare Ping An, Robust Guilin and other brands have increased their product lines in high-end wound dressings, injection and puncture consumables, latex gloves, condoms and other fields. However, due to changes in the medical consumables industry and market, it is stable The performance of two subsidiaries of Ping An and Robust Guilin fell short of expectations last year, resulting in a total goodwill impairment of 190 million yuan.
Zhang Yan revealed that after a full year of in-depth empowerment and resource integration in 2023, M&A companies have achieved positive results in business collaboration and value optimization. In order to enhance the comprehensive competitiveness Ping An has made every effort to build the second phase of the benchmark project of the medical device industrial park, leaping to the smart factory of precision manufacturing, standardization, automation, intelligence and digitalization, and successfully introduced overseas strategic cooperation customers, carried out high-end injection products and sales markets in Europe and the United States, and worked hard to realize the dual wheel drive of overseas and domestic sales.
At the same time, Robust Guilin acquired the Robust Jingzhou Glove Factory with cost advantages and 10 glove production lines, increased automation investment, continued to improve cost competitiveness, broke through production bottlenecks, and worked hard to promote the increase of domestic and overseas market shares. In addition, Soundness also won the bid for the centralized purchase project of some provincial alliances by expanding the product line.
"Previously, these fields were dominated by imported brands. In recent years The progress of domestic substitution is significant. Now through such large-scale centralized purchase, our admission progress has been accelerated a lot. " Zhang Yan also said that as a medical enterprise, steady medical care is not afraid of centralized purchase, and multi provincial alliances even The national centralized purchase is good for the industry leaders, but it is possible for the national purchase of low value consumables Not very sexual. And, although Many manufacturers of low value consumables such as masks were born in the epidemic, but with the industry access threshold becoming higher and demand The total volume has declined, and only a few leading enterprises are still working hard. The prudent strategy is to continue to increase R&D investment and make products better.
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