INTCO Medical 2024 Annual Report

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

In 2024, despite a complex global economic landscape, INTCO Medical demonstrated remarkable resilience and delivered outstanding performance:

• Operating revenue reached RMB 9.523 billion, marking a year-on-year increase of 37.65%.

• Net profit attributable to shareholders of the listed company soared to RMB 1.465 billion, a growth of 282.63%.

• Net profit excluding non-recurring gains and losses surged by 1239.10% to RMB 1.167 billion, highlighting significant improvement in core business profitability.

• Net cash flow from operating activities reached RMB 1.079 billion, up 114.78%, reflecting enhanced financial health.

• Net assets attributable to shareholders stood at RMB 17.404 billion, a year-on-year increase of 8.58%, indicating steady asset expansion.

Surging Momentum, Full-Capacity Operations

As a global leader in disposable gloves, INTCO Medical leveraged over 30 years of technical expertise and the synergy of seven manufacturing bases across China and Vietnam (Zibo, Qingzhou, Huaibei, Anqing, Zhenjiang, Jiujiang, and Vietnam). In 2024, the company achieved 100% capacity utilization, with an annualized production capacity of 56 billion nitrile gloves and 31 billion PVC gloves, maintaining its top-tier global position.

Innovation-Driven Upgrades

In 2024, INTCO invested ¥398 million in R&D, focusing on material innovation and smart manufacturing while advancing its digital transformation strategy. The company launched a series of green products, such as Dust-free clean nitrile gloves, EU-standard low-weight nitrile gloves,  biodegradable nitrile gloves, and syntex™ synthetic latex gloves reflecting its commitment to sustainable development.

INTCO also introduced standout rehabilitation equipment, including the E-LITE electric wheelchair and CAREFLEX nursing bed. These innovations, alongside a comprehensive range of physiotherapy care and household cleaning products, cater to diverse needs across medical, industrial, and consumer markets, ensuring INTCO remains at the forefront of medical technology.

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

INTCO achieved notable milestones in ESG performance, underscoring its dedication to sustainable, high-quality development. Key accolades include:

• WIND Rating A

• MSCI ESG Rating BBB

• EcoVadis Committed Status

• BSCI certification

INTCO also took an active role in fulfilling its social responsibilities and supporting China’s dual-carbon goals by intensifying green technology innovation and strengthening climate governance through low-carbon operations.

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.