EDAN Announces 2020 Annual Results and 2025 Outlook: Revenues Increased 104.1%
SHENZHEN, China, March 16, 2021 /PRNewswire/ — EDAN Instruments, Inc. (“EDAN” or the “Company) (SHE: 300206) on Monday announced its results for the preceding fiscal year (FY 2020) with revenue of CNY 2.3 billion. The company also revealed its strategic 5+1 plan and its anticipation for 2025.
EDAN’s 2020 Financial Highlights (all results compared to FY 2019)
- Revenues increased 104.1% to CNY 2.3 billion, in which CNY 1.4 billion are from Patient Monitoring products with a 270.65% increment compared to FY 2019
- Net profit attributed to shareholders reached CNY 653 million vs. CNY 131.3 million
- Operating income increased 447% to CNY 745 million
- Net cash from operating activities increased 498% to CNY 689 million
- CNY 250 million in dividends paid to shareholders in 2020
For FY 2020, EDAN reported dispatching hundreds of thousands of medical equipment to over 140 countries. Apart from the 270.7% increment in patient monitoring, the report reflects all five product lines show increment in FY 2020, including a 41.5% increment in In-Vitro Diagnostics & Point-of-Care Testing to CNY 210 million. Throughout the year, EDAN established its brand and recognition in the market by delivering high-quality medical equipment to publicly funded healthcare systems, purchasing organizations, and hospitals like the Nation Health Service (NHS, UK) and AP-HP.
Under the universal operational challenges, EDAN maintained a steady increment in its R&D investments, from CNY 194.6 million to CNY 218.0 million. To ramp up the productivity, the company added production lines as well as introduced the automating supply chain.
Hao Zhang, Chairman and Chief Executive Officer of EDAN, commented in his letter to EDAN’s shareholders, “The achievements we did in 2020 were achieved by all of our employees, business partners, and stakeholders, even in such global uncertainties. What we did showed resilience, accumulates, and a sense of responsibility, especially when making decisive actions. EDAN were managed to serve our clients across the world with timely delivery while prioritizing our people and clients during the pandemic.”
The 5+1 plan, the outlook for 2020 to 2025, was further discussed in the letter. “To achieve revenue of CNY 5 billion in 2025, periodical targets were set by each unit, product-wise, operation-wise and strategic-wise. Local subsidiaries are also planned to excavate niche markets and provide better services to our clients.”
“What’s past is prologue. At the start of the 5+1 Plan, EDAN and I will keep our mission in mind, and creating value for shareholders and society as always,” Zhang concludes.
About EDAN Instruments, Inc.
Edan is a healthcare company dedicated to improving the human condition around the world by delivering value-driven, innovative, and high-quality medical products and services. For over 20 years, Edan has been pioneering a comprehensive line of medical solutions that address a broad range of healthcare practices including Diagnostic ECG, OB/GYN, Ultrasound Imaging, In-Vitro Diagnostics, Patient Monitoring, Point-of-Care Testing, and Veterinary. Healthcare professionals around the world depend on Edan’s breakthrough medical technologies and outstanding customer support.
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