Jiangxi Rimag (2522) H2 2024 earnings summary

Executive summary

• FY2024 revenue fell 18.1% YoY to RMB760.6m; net loss was RMB58.9m versus net profit of RMB36.6m in 2023, reflecting delayed deliveries and center openings plus listing expenses.

• Management described demand and bidding delays amid macroeconomic slowdown and tighter healthcare regulation, while noting recovery in equipment-upgrade demand and imaging-service marketization from late 2024.

Financial highlights

• Gross profit declined 16.6% to RMB277.3m; operating loss was RMB27.1m versus operating profit of RMB72.2m in 2023.

• Net loss attributable to owners was RMB45.9m; basic and diluted loss per share were RMB0.132, versus earnings per share of RMB0.131 in 2023.

• Adjusted net loss was RMB16.9m versus adjusted net profit of RMB60.0m; adjusted EBITDA fell 25.0% to RMB207.2m.

Outlook and guidance

• Management expects performance to resume stable growth, citing late-2024 recovery in equipment-upgrade demand and medical-imaging service marketization; delayed solution deliveries and center launches are planned for 2025.

• Plans include expanding the imaging-center network, developing overseas markets, deepening data and AI commercialization, and strengthening partnerships across the medical-imaging value chain.