SHENZHEN, China, Aug. 30, 2024 /PRNewswire/ -- LifeTech Scientific Corporation (the "Company" or "LifeTech", Stock code: 1302.HK), a company specializing in minimally invasive interventional medical devices for cardio-cerebrovascular and peripheral vascular diseases, together with its subsidiaries (the "Group") announced the consolidated results for the six months ended 30 June 2024 (the "Reporting Period").
International business achieved sustained rapid growth: The revenue of the Group was approximately RMB652.8 million during the Reporting Period, representing a year-on-year growth of approximately 2.1%. Overseas sales of the Group increased by approximately 29.8% as compared with the corresponding period of 2023, has maintained sustained rapid growth, showing the sound and fast development of the international business of the Group.
Stable profitability: Gross profit of the Group increased by approximately 2.1% year-on-year to approximately RMB515.4 million for the six months ended 30 June 2024. Gross profit margin was approximately 78.9%, being the same with the corresponding period of 2023. Excluding non-recurring items[1], net profit attributable to owners of the Company was approximately RMB233.6 million, and the net profit margin attributable to owners of the Company was approximately 35.8%, fully demonstrating the Company's consistently stable profitability.
[1] Such non-recurring items included (i) the other gains arising from financial assets at FVTPL were approximately RMB32.9 million, and (ii) the share-based payment expenses were approximately RMB61.3 million.
International Business Achieved Significant Growth, Domestic Market Solidified Foundation for Development
In the first half of 2024, the Company steadfastly pursued its mission to meet unmet clinical treatment needs worldwide through a strategic lens focused on innovation and global outreach. During the Reporting Period, the Group has showcased its commitment by rolling out a rich product portfolio of cutting-edge technology and premium academic services, alongside the synergistic amalgamation of its expertise in branding, patents, distribution networks, clinical trials, market registration, and management of global operations. With the effective implementation of the internationalization development strategies, the Group's international business has maintained sustained rapid growth. The revenue generated from overseas market of the Group increased by approximately 29.8% as compared with the corresponding period of 2023, which accounted for about 24.9% of the total revenue. Meanwhile, Asia (excluding China's mainland) and Europe were the two largest overseas market of the Group, which accounted for approximately 10.9% and 10.0%, respectively.
China's mainland remained the foundation and the largest market of the Group. During the Reporting Period, the domestic sales of the Group decreased by approximately 4.7% as compared with the corresponding period of 2023, which accounted for approximately 75.1% of the total revenue. The Group's key products, including ...
