BRIEF: AK Medical posts big profit gain in 2024

Orthopedic products maker AK Medical Holdings Ltd. (1789.HK) said on Sunday it expects to report its profit last year rose more than 50% year-on-year. That means the company is likely to report a 2024 profit of at least 270 million yuan, based on the 182 million yuan ($25 million) profit it reported in 2024.

AK Medical attributed the big profit increase mostly to continued strong demand for its surgical products and a higher sales volume under China’s bulk-buying national procurement system, which has accelerated import substitution driven. It also credited its relatively stable operational and administrative costs achieved through cost control measures.

Shares of AK Medical opened up 3.8% on Monday morning at HK$4.68. The company’s shares are up nearly 20% from their low this year.

By Lau Chi Hang

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