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Finance Association, July 12 (Reporter Wang Bin) Benefiting from increased demand for health equipment, the net profit for the first half of this year is expected to double year-on-year, exceeding the net profit scale of 86.7122 million yuan for the full year of last year.

This evening, Inlova announced that in the first half of this year, it is expected to achieve net profit attributable to shareholders of listed companies of 0.13 billion yuan to 0.16 billion yuan, an increase of 130.44% to 183.62% over the previous year; net profit after deducting non-recurring profit and loss is 0.115 billion yuan to 0.15 billion yuan, an increase of 255% to 363.04% over the previous year.

According to financial data, in the first quarter of this year, Yinglova achieved net profit of 67.7694 million yuan, an increase of 74.84% over the previous year. Based on this calculation, the company's net profit for the second quarter was 62.2306 million yuan to 92.2306 million yuan, an increase of 252.52% to 422.46% over the same period last year.

Regarding the reason for the increase in performance, Inlova said that during the reporting period, the company stepped up market development efforts in the health equipment business and achieved significant growth in performance. Furthermore, the company continues to do a good job in customer optimization and inventory control, actively promotes lean management, and effectively implements cost reduction and efficiency.

In the investor research minutes disclosed in May of this year, Yinglova stated that demand in the health equipment market has continued to grow in the past two years, and the company has continued to increase investment in the health equipment business. Last year, it pioneered the application of carbon fiber materials. The market supply was in short supply, and the effect of driving the company's health equipment sector's performance was obvious.

In 2015, Yinglova established a joint venture subsidiary, Yinglova Rehabilitation, and began manufacturing and selling health equipment including electric wheelchairs, scooters for the elderly, walkers, nursing beds, etc. According to reports, the domestic market for the company's health equipment products is mainly ToC, mainly sold through online channels such as JD and Taobao; the foreign market mainly uses ODM and OEM models, and is mainly exported to European, American and Southeast Asian countries.

The Yinglova side said that with the deepening aging of the population and the continuous increase in consumer consumption levels, it is expected that the health equipment industry will have broad room for future development. In the future, the company will use its existing advantages to expand production accordingly to consolidate and enhance its position and market share in the industry.

Currently, Yingluowan mainly has three business segments: NdFeB permanent magnet materials, intelligent motor control, and health equipment. In 2023, the company's three business segments accounted for approximately 57.79%, 21.39% and 14.1% of revenue, respectively.

It is worth mentioning that the company's net profit fell 66.46% year on year last year, and the continued fluctuation and decline in rare earth raw material prices was one of the main factors in the decline in performance.

Since this year, there has been no substantial improvement in the rare earth market. In April of this year, Yinglova confessed to investors, “Judging from the situation in the first quarter of this year, magnetic materials performance is still under some pressure due to falling prices of raw materials for magnetic materials and market competition.”

The June rare earth market monthly report recently released by the Rare Earth Exchange also shows that the price of praseodymium metal continued to rise for a short month and a half (mid-April-May) due to terminal product orders falling short of expectations, then prices began to fall again.