Sinocare: Expected 2022 full-year earnings of CNY 400 million to 460 million with net profit up 271.85% to 327.63% year-on-year

A-share listed Sinocare (300298) issued a full-year performance forecast. The Company expects a significant rise in January-December 2022 results, net profit attributable to shareholders of the listed company is CNY 400 million to 460 million, net profit increased by 271.85% to 327.63% year-on-year. 

Sinocare made the above forecast based on the following reasons: 

The main reasons for the expected year-on-year increase in net profit attributable to shareholders of the listed company in FY2022 are as follows: 

1. Sinocare continues to generate growth from existing business of the rapid detection of chronic diseases with blood glucose monitoring products as the core. The main business income has achieved stable growth. Meanwhile, the Company has continually optimized its marketing channels, improved brand influence, kept the growth in production and sales moving forward and enhanced profitability to promote the performance growth.

2. Trividia Health Inc., the wholly-owned subsidiary of Xinnuo Health, which is the share-holding subsidiary of Sinocare, has improved operating performance and received compensation payments and interests from NIPRO CORPORATION. The impact on Sinocare’s investment income is expected to be approximately CNY 50 million.

3. The Company's FY2022 non-recurring profit or loss is expected to be approximately CNY 75 million to 85 million, compared to CNY 11,482,600 for the same period of the previous year.

The sector of Sinocare is medical devices.

About Sinocare

Sinocare Inc. is dedicated to the R & D, production and marketing of rapid detection of chronic diseases with biosensing technology. Its main products are blood glucose monitoring system, lipid testing system and glycated haemoglobin testing system.