INTCO Medical 2024 Annual Report

Business Highlights of 2024: A Year of Record-Breaking Achievements

In 2024, despite a complex and evolving global economic environment, INTCO Medical demonstrated strong resilience and delivered outstanding overall performance. The company achieved operating revenue of RMB 9.523 billion, representing a year-on-year increase of 37.65%. Net profit attributable to shareholders reached RMB 1.465 billion, up 282.63%, while net profit excluding non-recurring items surged by 1239.10% to RMB 1.167 billion, highlighting substantial improvement in core business profitability. In addition, net cash flow from operating activities rose by 114.78% to RMB 1.079 billion, and net assets attributable to shareholders increased steadily to RMB 17.404 billion, reflecting a solid financial foundation and sustainable growth trajectory.

Strengthened Operations and Global Supply Capabilities

Throughout the year, INTCO maintained high-efficiency operations across its global manufacturing network, ensuring stable supply and consistent product quality for international markets. By continuously optimizing production processes and enhancing supply chain coordination, the company further reinforced its ability to respond to growing global demand in the physical therapy and homecare sectors.

Supported by its integrated production bases in China and Vietnam, the company has established large-scale capacity for disposable hot and cold therapy products, with an annual output of approximately 149 million instant cold & hot packs and 106 million heat patches. This robust production scale, combined with ongoing supply chain optimization and process improvements, enables INTCO Medical to efficiently meet growing global demand while ensuring stable quality and reliable delivery, further consolidating its competitive position in the international market.

Innovation-Driven Upgrades

Innovation remains a central pillar of INTCO’s long-term strategy. In 2024, the company invested RMB 398 million in research and development, focusing on new materials, advanced manufacturing processes, and digital transformation. Within the physical therapy segment, INTCO continued to expand its portfolio of physiotherapy care and homecare solutions, introducing a range of products designed for everyday health management, recovery support, and hygiene protection. These innovations reflect the company’s commitment to addressing diverse application scenarios while aligning with global trends toward preventive care and wellness-oriented lifestyles.

Organizational Renewal and Talent Empowerment

INTCO actively advanced its talent strategy in 2024 by expanding campus recruitment and implementing the “YOUNG” talent program, injecting fresh vitality into the company. By fostering a competitive and growth-oriented work environment, INTCO has built a vibrant and capable workforce.

Green Development & ESG Recognition

Sustainability continues to be a key focus for INTCO’s development strategy. In 2024, the company achieved multiple ESG recognitions, including WIND Rating A, MSCI ESG Rating BBB, EcoVadis Committed Status, and BSCI certification, underscoring its commitment to high standards in environmental responsibility, social governance, and ethical operations.

At the same time, INTCO actively contributed to broader sustainability goals by advancing green technologies, promoting low-carbon manufacturing practices, and strengthening climate governance. These efforts reflect the company’s dedication to balancing business growth with environmental stewardship.

Expanding Global Presence & Brand Influence

To enhance global brand awareness, INTCO developed a comprehensive communication matrix by integrating traditional and new media across platforms like WeChat, Weibo, Xiaohongshu, Douyin, TikTok, and Facebook. The company also expanded its e-commerce presence on Tmall, JD.com, Pinduoduo, and Douyin Mall to improve consumer services.

In market development, INTCO participated in 31 domestic and international exhibitions throughout the year, significantly boosting brand exposure. Through extensive client engagement and high-frequency showcasing, the company unlocked new market potential.

INTCO also launched three dedicated marketing websites covering rehabilitation equipment, medical consumables, and physiotherapy care. These platforms serve as a foundation for global online advertising campaigns, enabling targeted and efficient brand communication while accelerating international growth.

Award-Winning Performance, Poised for the Future

Thanks to its strong business performance and innovation achievements, INTCO received numerous honors in 2024, including:

• “Anhui Province Outstanding Private Enterprise”

• “Shandong Province Top 200 Private Enterprises”

• “Huaibei City Digital Transformation Benchmark Enterprise”

• “New Quality Enterprise Golden Bull Award”

These accolades reflect INTCO’s industry leadership and widespread recognition.

Looking ahead to 2025, INTCO Medical will continue to pursue synergistic growth across its three core business areas—medical consumables, rehabilitation equipment, and physiotherapy care. With global capacity expansion and technological innovation at its core, INTCO remains committed to high-quality development, delivering greater value to the global healthcare sector with Chinese expertise and enterprise strength.