IVD Medical Announces 2022 Interim Results
HONG KONG, Aug 22, 2022 - (ACN Newswire via SEAPRWire.com) - IVD Medical Holding Limited ("IVD Medical" or the "Group"), a leading distributor of In Vitro Diagnostic ("IVD(1)") products in the PRC, has announced its interim results for the six months ended 30 June 2022 ("Period"). During the Period, although hospitals were closed and other quarantine and social distancing measures were put in place in mainland China due to the COVID-19 pandemic, which resulted in a temporary decrease in end customers' demand for IVD product. With the help of its competitive and diverse product portfolio, extensive distribution network and growing maintenance services business, the Group still recorded revenue of RMB1,176,557,000 (six months ended 30 June 2021: RMB1,186,791,000), a similar level to that in the same period last year. Gross profit increased by 11% year-on-year to RMB266,423,000 and gross profit margin was up 2.4 percentage points year-on-year to 22.6%. The increases were mainly attributable to the decrease in purchase price of IVD analysers and the increase in maintenance services revenue with relatively stable maintenance cost. Driven by rising profit margin, the Group's adjusted pro...
