For the year ended
Gross profit margin
Profit attributable to owners of the Company
Adjusted net profit *
Note *: To supplement its consolidated financial statements which are presented in accordance with HKFRS, the Group also uses adjusted net profit as an additional financial measure to evaluate the financial performance by eliminating the impact of items that the Group does not consider indicative of the performance of its business. The Group's adjusted net profit was derived from its net profit for the year excluding share-base compensation expenses, listing-related expenses as well as the expenses incurred in the acquisition of Tianxinfu.
During the period, revenue amounted to
Acquisition of Tianxinfu and Enter the Biological Materials Segment and Neurosurgery Segment
Expansion of Product Portfolio
In order to fully seize market opportunities in the advanced infusion set and orthopedic implant markets, the Group continued to broaden the product portfolio by strengthening its R&D efforts and entering into strategic acquisitions.
With regard to the infusion sets business, the Group has been developing a series of advanced infusion set products with new functions and features. In view of delivering safer and improved infusion treatments, the Group plans to enhance the precision filter infusion sets by including more precise filter pore sizes, new features such as precise flow control, automatic air venting, etc. Further, in an effort expand the Group's non-PVC-infusion set portfolio, improve product features and broaden its applications fields, the Group is currently developing new non-PVC materials, in order to replace the existing PVC-based infusion set.
The orthopedic implant business had seen much progress with the Group's continued research on perfecting the three main product categories: trauma products, spine products and joint products. For the trauma implants, the Group is seeking to further improve properties of the bridge-link combined fixation system which was commercially launched inJuly 2012; the spine implants sees the on-going development of the PEEK (polyethereth erketone) fusion cage and vertebro plasty tools. The Group will continue to devise new ideas and develop advanced materials to satisfy varied patient demands for the hip and knee implants.
As for regenerative medical biological materials business, Tianxinfu has been working with large scale Class III hospital to upgrade the current products to develop a series of regenerative medical biological materials products with new applications, functions and features in order to diversify product portfolio.
Emphasis on Innovation and Research and Development
As a leader in development of innovative products, the Group currently possesses an experienced R&D team comprising of approximately 100 members. As atJune 30, 2014, the Group has obtained 50 patents, including 25 for infusion set products and 25 for orthopedic implant products, and has applied for 34 patents. The Group will continue to invest in product innovation and R&D in future, and cooperate closely with surgeons, hospitals, university research centers and other research institutions to integrate results from R&D and develop products which meet market demands.
Expansion of Distribution Network
The Group currently has three experienced and dedicated sales and marketing teams to support and consolidate nationwide distribution network and strengthen product promotion. Approximately 50% of the sales and marketing staffwho have medical experience; with key salespersons in each business segment have an average of 10 years' experience in their respective areas. Their experience and expertise helps them to communicate with doctors and nurses in a succinct and effective manner.
In response to the ever-increasing market demand, the Group will make further efforts to develop the sales and marketing teams in order for them to support the Group's extensive distribution network and, promote the Group's products and brand name to surgeons, nurses and hospitals. For the Orthopedic Implant Business, the Group will continue to focus on expanding its business at Class 2 hospitals in the second and third tier cities, and concentrate on developing sales and marketing capabilities for the newly acquired joint implant business. In relation to the advanced infusion set business, the Group will focus initially on the Class 3 hospitals in larger-than-average cities in the more developed regions ofChina, and then penetrate into smaller hospitals and cities.
Increase Production Capacity
In view of the growing potential of the orthopedic implants market in
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Listed on the main board of Hong Kong Exchange on
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