United Imaging Medical: Revenue in the first three quarters increased by 25.55% year-on-year, and overseas markets continued to grow rapidly

On the evening of October 28, United Imaging Medical (688271) released its third quarter report for 2022. From January to September this year, United Imaging Medical achieved operating income of 5.859 billion yuan, an increase of 25.55% over the same period of the previous year; net profit attributable to the parent was 899 million yuan, an increase of 16.62% year-on-year; basic earnings per share was 1.22 yuan per share.

According to public information, United Imaging Medical was established in 2011 and is committed to providing global customers with high-performance medical imaging equipment, radiotherapy products, life science instruments and medical digital and intelligent solutions.

Regarding the reasons for the growth in performance, United Imaging said that in the first three quarters of 2022, the company continued to strengthen internal management and improve operating efficiency. Domestic business grew steadily, while overseas market and after-sales service revenue continued to maintain rapid growth, achieving operating income and Stable and healthy growth of net profit.

Since the beginning of this year, the company has continued to ensure high-intensity R&D investment and strengthen scientific and technological innovation. From January to September, the R&D investment totaled 1.005 billion yuan, a year-on-year increase of about 27.47%. Further breakthroughs are achieved, such as the ultra-high-field whole-body magnetic resonance system (uMR Jupiter 5.0T) in the industry with more clinical research value, and the standard aperture 3.0T uMR NX superconducting magnet with industry-leading performance and stability focused on nerves and scientific research Innovative products such as the resonance system and the United Imaging full-core digital PET-CT (uMIPanorama) with the industry’s highest time resolution of 196 picoseconds have been continuously certified and launched to the market.

In addition, the company also pays attention to protecting independent intellectual property rights through patents. As of September 30, 2022, the company has applied for 6,807 patents, including 5,524 invention patents (81%); a total of 3,140 patents have been authorized, of which 2,146 are invention patents (68%). The company’s patent layout has been continuously improved. Combining its own technology path, industry-leading technology and market development direction, the company will continue to build an intellectual property highland for high-end medical equipment, and grasp the initiative and voice of innovation.

United Imaging Medical said that in the future, the company will further develop its global marketing system, strengthen the construction of overseas localization platform capabilities, seize the transformation and upgrading of China’s high-end medical equipment manufacturing industry, and adhere to the “hold high” market strategy. Breakthroughs drive breakthroughs in all products, and continue to improve the company’s comprehensive competitiveness and market coverage; at the same time, the company adheres to the principle of innovation-driven, continues to comprehensively strengthen product R&D innovation, and continuously launches innovative products that effectively solve clinical and scientific research problems for the market.

Guosen Securities believes that after years of technology accumulation, domestic medical equipment companies have entered a golden age of double-drive high growth of “market expansion + import substitution”. United Imaging Medical’s “high-end product breakthrough to drive the penetration of all products” represents the world level of “intelligent manufacturing in China” in the medical equipment industry.