On the evening of March 28, Haier Biotech (688139. SH) released its 2024 annual performance report, and the company achieved a total operating income of 2.284 billion yuan for the whole year, resuming positive growth. After the growth rate of operating income in the third quarter turned positive year-on-year, the growth rate in the fourth quarter further increased to 10.40%, and the business recovery trend is significant. It is worth noting that in 2024, the company's new industry will perform well, with an annual growth rate of 21.25%, accounting for 45.47% of the main revenue, an increase of 7.93 percentage points year-on-year.

The data shows that Haier Biotech's digital intelligence scenario solution capabilities, which rely on scientific and technological innovation and AI deep empowerment to continuously iterate, have entered the transformation period of achievements. From the perspective of business structure, the company's new non-storage industry will maintain high growth in 2024, which is becoming a key support for it to cross the industrial cycle and achieve sustainable growth. At the same time, the company focused on reducing costs and improving efficiency in the whole process driven by digitalization, continued to strengthen working capital management, and achieved a gross profit margin of 47.99%, a year-on-year decrease of 2.43% in expenses in the three periods, and a year-on-year increase of 17.01% in net cash flow from operating activities.

The echelon layout of the three major industries The whole industry is expanding in parallel to create new growth poles

Since anchoring the life science and medical innovation strategy, Haier Biotech has realized the rapid expansion from cryogenic storage to multi-category non-storage new industries through "endogenous + epitaxy" based on independent innovation. On the one hand, the core equipment matrix covering the whole scene of the laboratory has been built, the carbon dioxide incubator has advanced to the top three in the country with the market share of precise temperature control technology, and the water-jacketed incubator, animal experiment cage and other products have completed the coverage of key scenarios, and the superimposed acquisition of Shanghai Yuanxi reinforcement spectral analysis technology has formed a complete technology chain from basic equipment to high-end instruments; On the other hand, relying on the differentiated EPS model, its scenario-based solutions have shown strong explosive power, and the hospital drug automation solution has extended from a single device to a scenario-based solution through innovative products such as tumor dispensing robots and desktop dispensing robots, and its business growth has nearly doubled. The technical barriers of core products and the superposition of scenario service capabilities drove the domestic revenue to 1.559 billion yuan, a year-on-year increase of 4.75%, of which the scenario solution business revenue accounted for more than 1/3, the growth rate exceeded 50%, and the value of a single user increased by more than 50%.

Its traditional cryogenic storage products, which have always had advantages, have achieved contrarian growth under the background of industry pressure, and the market share of ultra-low temperature products, cryogenic liquid nitrogen tanks, and constant temperature medical refrigerators ranks first in China, and the full range of ultra-low temperature, low temperature, and constant temperature products have maintained double-digit growth in overseas markets. On the basis of continuing to lead the forefront of technology, the company reconstructs industrial logic with digital intelligence technologies such as AI and big data, and continuously improves user experience through AI+ to drive the upgrade of digital intelligence scenarios. In 2024, the company launched the world's first fourth-generation biobank "Ark of Life" equipped with three AI core technologies such as Kuidou AI self-decision-making model, realizing the intelligence of the whole process of sample processing, storage, and quality control, and has landed in Beijing, Dalian and other places. The AI vaccine storage and distribution system has built a smart vaccination network in Hefei, Shenzhen, Fuzhou and other places, and more than 1,200 new vaccination sites have been launched.

In addition, Haier Biotech is also actively laying out future industries and tapping the company's long-term growth value. For the blood industry, based on the first-mover advantage of smart blood, Haier Biotech has achieved a revenue growth rate of 1.3 times that of the industry growth rate of plasma collection solutions, and with the empowerment of the "Haiyihui" platform, it has cooperated with the Institute of Hematology of the Chinese Academy of Medical Sciences to expand blood treatment and blood testing scenarios. In the cell therapy industry, the company's panoramic solution for intelligent cell management has also made breakthroughs, and the automated cell culture workstation has landed in Jimerissen, Ritz Carr and other institutions, which is expected to further explore more possibilities in the field of CGT.

In 2024, the company's R&D investment will reach 306 million yuan, accounting for 13.41% of revenue, through the continuous upgrading of the UADV open R&D system and the differentiated R&D model of self-research, joint research, mergers and acquisitions, and incubation, the company has realized the improvement of R&D efficiency and the rapid industrialization of technological achievements, with the timely rate of new products on the market increasing by 9%, and the compliance rate of new product projects increasing by 5%. It has obtained a total of 1,595 patents and 392 software copyrights, and 32 international leading achievements. In addition to endogenous power, Haier Biotech is also actively expanding its extension, integrating and optimizing targets through the "concentric circle" model, realizing synergy and complementary advantages of various industries, further expanding the company's business boundaries, and forming a strong market competitive advantage.

The

globalization strategy accelerates the expansion of the "one country, one policy" localization layout and has achieved remarkable results

Based on an international perspective, Haier Biotech continues to deepen its global market system for direct users, and improve its interaction, customization and delivery capabilities for scenario solutions. In 2024, the company will focus on "de-disturbance + capacity improvement", the impact of special factors such as the solar vaccine program will be gradually cleared, and the overseas market will achieve double-digit revenue growth after excluding the influencing factors, and the business will resume positive year-on-year growth in the fourth quarter; On the other hand, the company continues to promote the localization strategy of "one country, one policy", builds regional delivery capabilities and local technology response mechanisms, realizes rapid insight and response to the needs of local users, and realizes the transformation and upgrading from cryogenic storage products to multi-category progress, In 2024, the company added 56 new product models to obtain overseas localization certification, and has a total of more than 400 overseas product certifications.

Relying on the market advantages of leading technology and localized layout, new categories such as centrifuges, incubators, and laboratory consumables have been rapidly scaled up to achieve rapid growth, among which laboratory equipment such as incubators and centrifuges have entered the Royal Institute of Technology, the National University of Singapore and other universities, and the cryopreservation program has achieved large-scale breakthroughs in European pharmaceutical channels; The whole range of products such as ultra-low temperature, low temperature and constant temperature maintained double-digit growth, and the liquid nitrogen storage solution entered the laboratory of Oxford University, and the smart blood solution entered more than 10 countries such as Italy, Brazil, Tanzania and Morocco, marking that the company has achieved a comprehensive expansion of new industries and traditional industries based on global R&D and local innovation.

In the future, based on the global layout of the three major industries, Haier Biotech will continue to consolidate its strong industrial advantages, accelerate the expansion of new industries, deepen the future industrial layout, and focus on the digital and intelligent upgrading of scenarios driven by AI by further strengthening its technological innovation capabilities, so as to achieve a "strategic leap" from "cycle repair" to "strategic leap".

Source: Promotion