SWS Q1 2023 earnings exceeded 2022 full year results, Stock soared 135%, the top among all listed Chongqing companies

SWS delivered strong performance for first quarter 2023, with a net profit of about ¥74.59 million.

Source:ShangYou News


[Chongqing, April 27, 2023]: On the evening of April 27, Chongqing SWS Hemodialysis Care Co., Ltd. (stock code: 688410), the first Chongqing-based company listed on the SSE Science and Technology Innovation Board, released its results for the first quarter of 2023. SWS reported revenue of ¥193 million for the Q123, a increase of 187.14% over the last year. The net profit attributable to shareholders accounted for ¥74.59 million, a substantial year-on-year increase of 866.83%, exceeding the ¥59.24 million for the entire year of 2022. The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥71.08 million, an impressive year-on-year growth of 1103.68%.

On April 28, SWS closed at ¥59.59, hitting a 20% daily up trading limit, with a dynamic P/E ratio of 68.39 and a total market value of ¥8.62 billion. SWS stocks have increased by 135.81% since the beginning of this year.

Commenting on the sharp increase, SWS stated that the company's blood purification equipment have been recognized by growing number of hospitals both at home and abroad over the years. The company has continuously increased distribution efforts to cover more locations, achieving rapid growth in sales revenue. The disposables also maintained a steady growth and its medical service sector has been optimized and recorded gains during the reporting period.

In addition, SWS has ramped up global expansion. Since the end of 2022, the company has obtained registration certificates for hemodialysis machines in Russia, Brazil, Panama, etc. In the future, SWS will explore key markets such as Europe while further exploring the covered markets. Building on the company's technology advancement, SWS will continue to promote its brand by participating in more global academic conferences and product expositions. The next step, SWS will set up marketing branches overseas to enhance global marketing capabilities and after-sales services.