Eyebright Medical disclosed its half-year report on the evening of August 26. In the first half, it achieved operating revenue of 933 million yuan, up 18.57 percent year on year, but net profit attributable to the parent was 183 million yuan, down 14.39 percent, and non-GAAP net profit attributable to the parent was 177 million yuan, down 13.47 percent. The company said the profit decline was affected by multiple factors including lower intraocular lens revenue, higher overseas selling expenses, increased investment in contact lens channel and brand building, and higher interest on acquisition loans. Among these, revenue from its core product, intraocular lenses, was 305 million yuan in the first half, down 11.33 percent year on year, affected by contraction in medical institution business and adjustments to medical insurance payment structures. Orthokeratology lens revenue rose 4.24 percent to 124 million yuan, but growth slowed. The contact lens business became a bright spot, with revenue reaching 281 million yuan, surging 30.09 percent year on year, and its share of total revenue rose to 30.09 percent. In addition, in February this year the company acquired a 68.31 percent stake in Demei Medical for 683 million yuan, entering the sports medicine sector, and in the first half this segment achieved revenue of more than 23 million yuan.
Eyebright Medical Technology Beijing Co LtdFirst-half net profit fell 14.39% due to lower intraocular lens revenue and higher expenses.
Acquired by Eyebright Medical, contributing over 23 million yuan in revenue in the first half.
