share_log

诉讼获赔但收款成老大难?新华医疗预计今年国际营收增速超三成|直击业绩会

Did you win the lawsuit but have trouble receiving the payment? Shinva Medical Instrument expects international revenue growth to exceed 30% this year. | Earnings conference highlights.

cls.cn ·  Jun 5 13:12

In February 2023, there was a final judgment for the lawsuit between Shinva Medical Instrument and Chengdu Yingde over performance compensation payment. However, the company has still not received the full compensation payment. Regarding international business, the company's secretary Li Caixiang stated that the expected growth in the company's international revenue this year compared to 2023 will not be less than 30%. The company also responded to the impact of the 'trade-in old for new' policy on the enterprise and the development of the endoscopy business sector.

On June 5, 2024, Caixin reported that after a five-and-a-half-year litigation process that ended in February of last year, Shinva Medical Instrument has still not received the full compensation payment. In today's earnings conference, the secretary of Shinva Medical Instrument (600587.SH), Li Caixiang, said, 'Nine natural persons including Sui Yong have yet to pay some of the compensation.' Regarding international business, Li Caixiang said the growth rate of the company's international revenue this year compared to 2023 will not be less than 30%, and the pharmaceutical equipment sector has shown fast growth overseas in the first quarter. Meanwhile, the company responded to the impact of the 'trade-in old for new' policy on the enterprise and the development of the endoscopy business sector.

Shinva Medical Instrument and Chengdu Yingde's lawsuit over performance compensation payment has been waiting for over a year since its final judgment was issued in February 2023. Whether or not the company has received the compensation payment from the lawsuit has garnered attention at the earnings conference. Li Caixiang told the Caixin reporter, 'In February 2023, the Supreme People's Court issued a 'civil judgment' (民事判决书) and it is still in the process of execution. Nine natural persons, including Sui Yong, still owe the company some compensation payment.'

The incident can be traced back to 2014, when Shinva Medical Instrument bought 85% of Chengdu Yingde's shares by issuing shares and paying cash. However, since the latter's performance did not meet expectations in 2016 and 2017, according to the agreement between Shinva Medical Instrument and nine natural persons including Sui Yong, the company filed a lawsuit with the court in June 2017.

The litigation process was quite lengthy, and in August 2019, the company received a 'civil judgment' (民事判决书) issued by the Shandong Provincial High People's Court [(2018) Lu Min Chu No. 103]. The company chose to appeal rather than accept the judgment.

It wasn't until February 2023 that the case was finally settled. Shinva Medical Instrument announced that they received a 'civil judgment' (民事判决书) issued by the Supreme People's Court, which rejected the company's appeal, upholding the original ruling that required nine natural persons including Sui Yong to pay compensation of 133 million yuan and interest for delayed payment. Shinva Medical Instrument has applied to freeze the stocks of nine natural persons including Sui Yong in Shinva Medical Instrument and 12.16% equity of Chengdu Yingde held by them.

Regarding the expansion of overseas business, Li Caixiang replied to Caixin that the company actively responds to the national Belt and Road Initiative concept. Export business has grown rapidly in recent years and the company expects that its international revenue in 2024 will increase by no less than 30% compared to 2023. Li Caixiang also added that in Q1 2024, the pharmaceutical equipment sector of the company showed fast growth overseas.

According to the annual report, the company's foreign (self-operated) revenue in 2023 was 241 million yuan, accounting for 2.41% of total revenue, an increase of 55.36% year-on-year, with the gross margin increasing by 7.86 percentage points year-on-year.

In March of this year, the State Council issued the 'Action Plan for Promoting Mass Equipment Renewal and Trading in Old for New Consumer Goods', and medical equipment is one of the seven key areas of equipment renewal focus, pushing for the renewal and upgrade of medical equipment and other aspects. 'The medical equipment renewal action can effectively drive the domestic demand for medical equipment updates, bring new development opportunities for the company's two core business sectors of medical instruments and pharmaceutical equipment,' Li Caixiang responded to Caixin reporter when asked about the impact of the policy on the company.

In 2023, the company made efforts in the endoscopy sector, promoting the overall solution of the smart endoscopy center, and completed the first Shandong Qilu Hospital Smart Endoscopy Center project in the country. Regarding this, Li Caixiang revealed to Caixin reporter that the smart endoscopy center project in the first quarter of this year continued the high-growth trend of the previous year.

Hold off on using the 'trade-in old for new' policy to upgrade our equipment.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment