WEGO Corporate and Strategy Overview
Key business highlights of 2022
Robust growth despite
the pandemic
Despite the challenges posed by the COVID-19,
VBP, and stock channeling, WEGO's key
products have maintained an upward growth
trend in terms of market share, resulting in
higher-than-industry revenue growth rate
In 2022, revenue was RMB13.62 billion,
representing a y-o-y growth of 3.1%; Net profit
attributable to owners of the company was
RMB2.72 billion, representing a y-o-y growth of
19.7%
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Sales channel integration
Continuous promotion of sales channel
integration, redirecting marketing resources to
core customer development and retention,
improving product penetration of key account
as well as average customer value
Increased the customer reach to include more
county-level hospitals and established more
city-level satellite offices, demonstrating the
unwavering commitment to providing
exceptional customer services to hospitals at
all levels
New business initiatives
Grew various new business segments such as
digital clinical care production, life science
information and support solutions, urology,
endocrinology, endoscopy and rehabilitation
related products
Digital clinical care products are expected to
boom in 2023. In rehabilitation, introduced
international leading brain-computer interactive
rehabilitation training system
WEGO威高
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Blood irradiators
for civil use
Revenue of Rad Source was RMB0.43 billion,
representing a y-o-y growth of 29%.
Since 2018, Rad Source started developing
direct-to-consumer irradiators for irradiation of
raw materials, particles and seeds to eliminate
pathogens and parasites.
With leading technology and global leadership
position, the product has significant market
potential and a broad range of application
areas including high-end traditional Chinese
medicines and raw meat & seafood
China's leading
medical device
conglomerate
.
Fruitful R&D achievements
Boosted R&D investment in 2022 with RMB
550mm R&D expenditure in total, marking a y-
o-y growth of 9%, continuously iterating
existing product portfolio and proactively
develop new products.
Invested in 4 healthcare funds to participate in
startup incubation and to closely track industry
trends
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Global development
opportunities
In 2022, WEGO established new overseas
business development based on original
strategy, proactively expanded overseas
market and explored global clients and
partners
Overseas business recorded significant growth
as its revenue increased by 19.2% on y-o-y
basis
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